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Electric powered VW vehicle

VW, China spearhead $300bn global drive to electrify cars

10 January 2019, 4:01 PM

Global automakers are planning a $300 billion surge in spending on electric vehicle technology over the next five to 10 years, with nearly half of the money targeted at China, accelerating the industry’s transition from fossil fuels and shifting power to Asian battery and electric vehicle technology suppliers.

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