German Automakers Aggressively Moving Forward with EV plans

Jason Graul of Business Finance News is reports that Germany's Big Three automakers (BMW, Daimler, and VolksWagen) are beginning to ramp up their EV product goals. It's a strange concession from an industry that, less than a decade ago, thought EVs were impossible. The reason for this renewed interest in electronic vehicles?

US Automaker Tesla Motors

"Even though for Tesla, Germany has remained a low-volume market, for the German automakers, US has proved to be the key auto market. Recently, Tesla garnered overwhelming response for its latest mass-market Model 3, which indicates how much electric vehicles are being preferred by the people if they were offered at lower prices. The US electric car maker also revealed a new goal of producing half a million cars per year in 2018 — two years ahead of its actual planned date of 2020. This is reflective of the fact that the company is aggressively moving ahead with its EV plans and hence, other automakers need to ramp up their operations if they are to compete with Tesla."