The New York Times detailed Volkswagen’s last six years, from its emission defeat devices and software to its forward-thinking investment in– and bet on– electric vehicles. Investors are happy to welcome one of the largest auto makers in the world to help with the shift from combustible engine to electric, and take on Tesla. Volkswagen boasts one of the largest auto making work force as well being replete with factories across the world for manufacturing EVs. In addition to infrastructure, the auto maker features a strong software division, which is a necessary component of emerging EVs looking to compete with Tesla. All of this simply means Volkswagen will be able to offer its electric vehicles at more competitive prices (i.e. cheaper).
It’s commitment to electric vehicles is promising but some experts warn of investing in a company that may still face fines.
Volkswagen has recently released the ID.4, its first electric SUV. Reviews have mostly been positive with a few noting that while the performance has not met that of a Tesla, it is good enough for the average consumer thinking of entering the realm of electric vehicles. There may be further fines for Volkswagen stemming from its problems back in 2015 and this is why some investors have been reluctant to recommend its stocks.