The Volkswagen Group has confirmed it’s delaying its fourth electric vehicle (EV) battery gigafactory for now due to European market conditions.
As reported by Reuters, Volkswagen Group CEO Oliver Blume said the company made this decision in part to the slower than expected EV demand in Europe.
Group CFO Arno Antlitz said European EV orders were down 50 per cent from 300,000 last year to 150,000.
“Based on market conditions, including the sluggish ramp up of the BEV market in…
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