Volkswagen AG will be investing around €1 billion to fully convert its manufacturing facility in Zwickau, Germany, to electric vehicle production over the next 5 years. This is part of a broader €22.8 billion investment package for 2018–2022.
The electric car revolution is coming. In fact, it is picking up speed as companies like Volvo say that all of their cars will have a battery and electric motor by 2025. Whole nations such as India and France are suggesting they may ban the sale of cars with internal combustion engines in coming years. Most people assume that lack of charging infrastructure is the primary barrier to more electric cars being on the road, but Volkswagen believes (as others do) that a lack of batteries will be the biggest factor. In fact, Volkswagen believes the world will need the equivalent of 40 Gigafactories by 2025 to meet the demand.
BYD announced today that it has signed an agreement with the Government of Ecuador to build an electric bus factory in the South American country.
