Volkswagen delays key EV project as Tesla challenge stumbles
BNN Bloomberg
Volkswagen ambitious push to supplant Tesla as the global electric-vehicle leader is running into trouble.
Chief Executive Officer Oliver Blume plans to push back the key Trinity battery car project from 2026 toward the end of the decade because new software won’t be ready in time, according to a person familiar with the matter. The company may also scrap plans for a €2 billion (US$2.1 billion) EV factory in Germany, the person said, asking not to be named because the discussions are private.
The delays complicate Volkswagen’s bid to catch up with Tesla and lay bare the challenges of overhauling Europe’s biggest automaker, from retooling factories to fixing buggy software that has frustrated drivers of its electric cars.
Volkswagen “currently is taking the opportunity to look at all projects and investments and check them for viability,” the company said in an internal message to employees seen by Bloomberg. A spokesperson declined to comment further.
