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Name | Symbol | Market | Type |
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Volkswagen AG (PK) | USOTC:VWAPY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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-0.20 | -2.32% | 8.42 | 8.32 | 8.50 | 8.50 | 8.36 | 8.42 | 832,827 | 22:00:02 |
By David Sachs
Four brands under the Volkswagen Group umbrella will change their charging system to join Tesla's network in North America.
Namesake brand Volkswagen, as well as Audi, Porsche and Scout Motors, said late Tuesday that new cars will come with the North American Charging Standard port starting in 2025.
The agreement with Tesla would give customers access to more than 15,000 Tesla rapid-charging stations in North America, known as the Supercharger network, Volkswagen said. The German carmaker said more than 3,800 fast-charging outlets are already available to customers through Electrify America and Electrify Canada, a joint venture of Volkswagen and Siemens.
The companies are exploring adaptors for existing owners as well.
Concern over charging availability is a barrier to potential electric-vehicle buyers, according to carmakers and analysts. In October, Volkswagen said it expects between 8% and 10% of all sales to be electric vehicles this year, down from a previous target of 11%, as electric-car adoption rates slow.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
December 20, 2023 02:24 ET (07:24 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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