Volkswagen E-vehicle Push

The local unit of Europe's biggest automaker has cut costs to about $700 million from $1 billion for a platform it is developing to build EVs

Under an agreement announced on Thursday, Volkswagen's battery unit PowerCo will receive the licence to mass-produce battery cells based on QuantumScape technology

The target is to produce electric vehicles for the European market priced at around 20,000 euros ($21,746), Volkswagen said, adding that a world premiere was planned for 2027

M&M's product line has reached a stage of maturity where we can go and compete around the world, a company official said

Auto industry body SIAM has proposed all new vehicle sales in India to be pure electric by 2047

Production of electric cars for European markets will largely be focused at a German factory in Zwickau