VW Builds Europe's Biggest E-Car Plant to Halt Tesla's March
(Bloomberg) -- Volkswagen AG will invest 1.2 billion euros ($1.4 billion) to revamp a plant in eastern Germany into Europe’s largest electric-car factory, giving chase to Tesla Inc.’s move into affordable zero-emission vehicles. “We will lead e-mobility out of the niche and make the e-car accessible for millions of people,” Thomas Ulbrich, the VW brand’s head of electric-cars, told reporters in Zwickau Thursday. The Zwickau site, about an hour’s drive from the eastern German city of Leipzig currently churning out Golf hatchbacks, will manufacture up to 330,000 electric vehicles per year. A smooth changeover from making thousands of combustion-engine vehicles every day will be vital for VW to defend its global leadership among incumbent rivals, while fending off new alternatives to traditional car ownership.