VWAGY - EV Market Slump Leads Volkswagen To Stall Eastern Europe Battery Plant Decision: Report | Benzinga
Volkswagen AG (OTC: VWAGY) is reportedly hitting the brakes on its plans to select a new location for its fourth gigafactory dedicated to electric vehicle (EV) battery production.
The decision comes amidst a slower-than-anticipated uptake of EVs in the European market, reported Reuters, citing the company's Chairman, Oliver Blume.
After a prolonged deliberation over potential sites within Eastern Europe, the automotive giant has postponed the decision-making process.
The report noted Volkswagen has already selected sites for ...