2.1B

VW bails on its plan for a $2.1B EV plant in Germany

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Volkswagen’s $2.1 billion plan to launch a dedicated electric-vehicle factory in Wolfsburg, Germany is kaput.  The automaker instead reportedly plans to modify its existing plants in Zwickau and Wolfsburg to handle production of a new flagship EV — the postponed Project Trinity — and an all-electric Golf hatchback.  This tracks with an earlier statement from … Read more

Toyota provides $2.1B to its US battery manufacturing unit growth plans

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Toyota will spend an extra $2.1 billion to construct a brand new battery plant in North Carolina, the most recent signal that the automaker is making an attempt to meet up with an business that has embraced the transfer to electrical autos. The Japanese automaker additionally introduced Wednesday it’s going to construct its first U.S.-made … Read more