VW’s hopes of catching Tesla hinge on a $30 billion tech reboot

“This would be the ‘brain’ of the car, and we don’t want to give it to other parties,” CEO Diess told Bloomberg in November. “We see that probably as the most important race and decisive point for our industry in the next five to 10 years.”

In its latest five-year investment plan, the company doubled spending on digitalization efforts to 27 billion euros ($32 billion), even as the overall budget remained flat. While that represents significant resources, Google parent Alphabet spends almost that much in a year.

Sprawling effort

Infighting has dogged VW’s effort. Car.Software was initially envisioned as an

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LG hopes to make advanced battery cells for Tesla in U.S. or Europe, report says

LG Energy Solution aims to build advanced battery cells for Tesla electric vehicles in 2023 and is considering potential production sites in the United States and Europe, two people familiar with the matter told Reuters.

Tesla has not yet agreed to a deal that would expand LG’s role in its supply chain beyond China, one of the sources said.

Last week, the Korean battery maker told Korean reporters it plans to build a U.S. factory where it would make battery cells for EVs and energy storage systems, to cater to U.S. and global customers as well as startups. It did

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