Volkswagen (OTC: VWAGY) was featured in a recent article on The Verge that discussed the automaker’s unveiling of its ID 4. The ID 4 is the first electric vehicle (“EV”) built on Volkswagen’s mass-manufactured modular electric vehicle platform (“MEB”) to be sold in the United States and described as “arguably the most important car to be released by VW in years.” According to the publication, the ID 4 will compete directly with Tesla Inc.’s (NASDAQ: TSLA) Model Y but is really taking aim at a market segment currently dominated by gas-powered vehicles, namely the compact SUV market. The article reads, “There are plenty of affordable EVs for sale today . . . But none of those vehicles are SUVs, the most popular vehicle type in the U.S. VW says the ID 4 has more potential to accelerate the mass adoption of electric vehicles in the U.S. than any EV released to date — though if that doesn’t work out, the automaker will probably be satisfied with just selling a bunch of them. Currently, EVs make up around 3% of total car sales in the U.S., though that number is expected to rise as prices come down.”
To view the full article, visit https://ibn.fm/P6Wou
About Volkswagen AG.
Volkswagen AG, known internationally as the Volkswagen Group, is a German multinational automotive manufacturing company headquartered in Wolfsburg, Lower Saxony, Germany and indirectly majority owned by the Austrian Porsche and Piëch families. It designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines, and turbomachinery and offers related services including financing, leasing and fleet management. In 2016, it was the world’s largest automaker by sales, overtaking Toyota and keeping this title in 2017, 2018 and 2019, selling 10.9 million vehicles. It has maintained the largest market share in Europe for over two decades. It ranked seventh in the 2018 Fortune Global 500 list of the world’s largest companies. The Volkswagen Group sells passenger cars under the Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT, Škoda and Volkswagen marques; light commercial vehicles under the Volkswagen Commercial Vehicles brand; motorcycles under the Ducati brand; and heavy commercial vehicles via the marques of listed subsidiary TRATON: MAN, Scania, and Volkswagen Caminhões e Ônibus. It is divided into two primary divisions—the Automotive Division and the Financial Services Division—and as of 2008 had approximately 342 subsidiary companies. Volkswagen also has two major joint ventures in China. The company has operations in approximately 150 countries and operates 100 production facilities across 27 countries. For more information, visit the company’s website at www.VolkswagenAG.com.
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