Tag: German automaker

Volkswagen heats up electric cars race with $40 billion spend

(Reuters) — 40-billion-dollars is roughly the size of Jordan’s GDP. And that’s also the amount of cash Volkswagen is going to splash in the next 5 years to gain ground in the electric and driverless car race. “We are seeing the first successes of this strategy. Volkswagen is in robust health. This is, above all, the result of great teamwork.” Volkswagen Chairman, Hans Dieter Poetsch, said. Competition in the sector is strong and VW has […]