Volkswagen Preparing to Duke it Out with Tesla

Being one of if not the biggest auto manufacturers in the world, Volkswagen is making moves to dethrone Tesla as the default king of electric vehicles. Because of their posturing, their stocks rose while Tesla’s dropped. For most of us, though, this means that electric vehicles should be a lot more affordable soon, which will likely mean Tesla will have to start dropping its prices somehow.   German automobile giant Volkswagen has the scale and the scope to take on and beat pioneer electric car maker Tesla. And after watching Tesla pioneering the electric market, it is jumping on the electric car bandwagon with its own line of battery and hybrid cars – and according to the Wall Street Journal, has plans to create 16 plants in which to build them by the year 2025.Nine of those plants are expected be in operation by 2020. Investors have taken notice of this development, sending Volkswagen’s shares higher and Tesla’s lower at Tuesday’s Wall Street opening. The shares of the two companies have been trading in tandem in the last three months, with Volkswagen’s shares faring better in the last six months and Tesla’s faring better over the last two years—see table. Click Here to Continue  Reading

Volkswagen Preparing to Duke it Out with Tesla is republished from CarDaddy

source https://autonews.cardaddy.com/volkswagen-committing-to-electric-and-hybrid-vehicles/