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Volkswagen (VOWG_p.DE) intends to sell electric cars for less than 20,000 euros ($22,836) and protect German jobs by converting three factories to make Tesla (TSLA.O) rivals, a source familiar with the plans said.
VW and other carmakers are struggling to adapt quickly enough to stringent rules introduced after the carmaker was found to have cheated diesel emissions tests, with its chief executive Herbert Diess warning last month that Germany's auto industry faces extinction.
Plans for VW's electric car, known as "MEB entry" and with a production volume of 200,000 vehicles, are due to be discussed at a supervisory board meeting on Nov. 16, the source said.
Fallout from cheating on diesel emissions tests continues. If German automakers, of which VW is the largest, switch to electric vehicles (EVs), will other car companies have to follow suit?
(Score: 2) by legont on Sunday November 11 2018, @12:06AM
Company I work for has large headquarters in Manhattan and we produce our own electricity using fuel cells. Yes, we burn fossils for electricity right in the middle of the island.
The reason is that it is cheaper than to pay for grid electricity plus to have backup generators. We, however, still attached to the grid in case of emergency.
Now, look at it from the power company point of view where cheap electricity especially a reliable kind is a matter of scale which we reduce. If I were their boss, I would not give us emergency power.
Here is the punch line: imagine Lehman Brothers bankruptcy and all the follow up because it was refused power. That's where we are now.
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.