Volkswagen Accelerates Its Electric Vehicle Push to Take on Tesla

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The Street

By Rob Lenihan The German automaker’s recently opened its electric vehicle battery lab in Chattanooga and it looks to dominate the EV market. Fifty years ago, an 11-person team got together at Volkswagen’s (VWAGY) – Get Volkswagen AG ADR Report Centre for Future Research in Wolfsburg, Germany. The team had been assembled in response to soaring oil prices and fuel shortages–sound familiar?–and the automaker wanted to explore alternative powertrains that would power Volkswagen’s first all-electric concept vehicle. The group’s efforts produced the 1972 Elecktro Bus, which was introduced at the …

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