Here are the biggest announcements from Volkswagen’s battery event
Volkswagen Group unveiled a massive push to drive down the cost of producing batteries for its electric vehicles in the hopes of speeding the transition away from gas-powered cars.
The automaker, which is the second largest in the world based on sales, said it would reduce the costs of producing its batteries by up to 50 percent, build multiple battery factories around the world, expand its network of charging stations, and eventually transition to solid-state technology that would cut costs and boost efficiency. The ultimate goal is to make electric cars with longer ranges and quicker charging times — two of the biggest barriers to mass EV adoption.
The race for huge improvements in battery technology is one of the most expensive and…