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Investing.com -- Volkswagen (ETR:VOWG_p) and Audi, two of the world’s leading car manufacturers, are contemplating extending the production of certain combustion engine models in Europe, according to Handelsblatt, citing sources familiar with the matter. This potential decision comes as the market for electric vehicles (EVs) is progressing slower than anticipated.
By 2033, car manufacturers aim to sell only EVs, but the slower than expected growth of the EV market might result in the continued production of some combustion engine models until they are completely phased out. This could include models due for a facelift.
The decision could be made during the upcoming investment planning round at Volkswagen scheduled for early March, as reported by insiders. This strategic move by Volkswagen and Audi could be a response to the slower market development for EVs, allowing for a more gradual transition from combustion engines to electric vehicles.
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