By David McHugh
Volkswagen plans six large battery factories in Europe by 2030 to power sales of more electric cars while driving down battery prices and making electric vehicles more affordable for entry-level buyers.
Volkswagen said it would build on its existing battery production facilities at Salzgitter in Germany and with partner Northvolt in Skelleftea, Sweden, adding new production technology and a standardized cell that it said would cut battery costs by as much as 50%.
The world's second-largest carmaker by sales volume behind Toyota also outlined plans to work with partners to operate 18,000 fast-charging points in Europe by 2025, which it said would represent a five-fold expansion of what's currently available. Having more places to charge on longer trips is seen as another way to get more people to buy electric cars.
Battery costs are one reason electric cars are often more expensive than internal combustion equivalents. Europe's accelerating rollout of electric cars has been supported by expensive government and carmaker subsidies to bring the price down for consumers.
The Wolfsburg, Germany-based automaker on Monday outlined plans for a broad ramping up of its battery production during an online event dubbed “Power Day,” an apparent echo of competitor Tesla's annual “Battery Day” events where the company announces new steps in battery technology. Tesla is building a large battery factory near Berlin.
On top of the factory network, Volkswagen said it would introduce new battery technology and chemistry that aims to make production more efficient and lead to better performance, steps it said would help bring electric cars within the reach of more buyers.
“We aim to reduce the cost and complexity of the battery and at the same time increase its range and performance”, says Thomas Schmall, Volkswagen's technology chief. “This will finally make e-mobility affordable and the dominant drive technology.”
Last year Volkswagen tripled its production of electric cars to 422,000 to meet tougher European Union limits on average emissions of carbon dioxide, the primary greenhouse gas blamed by scientists for climate change. The company says it plans to produce 1.5 million a year by 2025.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
