SoylentNews is people
SoylentNews
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 ikanreed on Friday November 09 2018, @05:35PM
It's probably the huge financial losses that are making him act weird. This quarter's posted profits were some serious accounting trickery that can't be repeated, so unless Tesla Motors gets good at making cars faster and cheaper soon, the $$$ side of things looks real real bad. If I were him, cutting my losses by selling the car designs and branding to a company that can run a cost-effective factory would be the out I'd take.