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VW Chief Executive Says Company Will Introduce EVs Based on the Up! New Small Family in 2013; Cautions Against Electro-Hype

Green Car Congress

We have rock-solid finances. The perspective of rising oil prices is a turboboost for a change in customer behavior, he said. In May, VW and Chinese carmaker BYD signed a memorandum of understanding to explore the options for partnership in the area of hybrids and electric vehicles powered by lithium batteries.

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Can Electric Vehicles Speed Up As The Economy Slows Down?

Wallbox

Moreover, with the massive drop in oil prices , gas-powered vehicles are more economical to operate, which makes it harder to argue that EVs will help drivers save money on fuel. Chinese car producer BYD even recorded a 337.25% increase in March sales amongst its fully electric and hybrid car models.

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