Another EV Giant Enters The Battery Business
January 27th, 2019Via: OilPrice.com:
German auto maker giant Volkswagen has just upped its bet on electric vehicles (EVs) by announcing it will begin manufacturing batteries and charging stations for those cars, which the company plans to also start mass producing soon.
The Wolfsburg-based company said it would invest 870 million euros (about $985 million) by 2020 to develop e-vehicle components, adding that its components division, which makes engines and steering parts, will now be in charge of producing, packing and overseeing recycling of battery cells and packs.
