TECH - Volkswagen And BMW Report Unexpected Good News Of Their EV Progress | Benzinga
With many concerns in the air about the EV revolution running out of steam as even the EV king, Tesla Inc (NASDAQ: TSLA) came short of estimates as it posted its first deliveries drop in four years, Volkswagen AG (OTC: VWAGY) and Bayerische Motoren Werke Aktiengesellschaft (OTC: BMWYY) provided some much-needed optimism on the EV front.
Helped by price cuts, Volkswagen’s e-offensive is showing results in the world’s biggest car market.
While Volkswagen faced a diminishing EV demand in Europe, Europe’s largest carmaker reported a first quarter success in China where its deliveries of both internal combustion engine and electric vehicles expanded by almost 8% during the first three months of the year. Specifically, deliveries of battery-run vehicles rose 91% YoY. Ralf Brandstätter, the head of ...