Home » Economy » Volkswagen CEO says building EV batteries in Europe 'practically unviable' due to soaring energy costs
Volkswagen CEO says building EV batteries in Europe 'practically unviable' due to soaring energy costs
Energy experts warn not to follow Europe’s example
Energy and Environment Legal Institute Steve Milloy discusses Europe’s energy crisis and their rapid push towards green energy on ‘Fox Business Tonight.’
Volkswagen’s CEO warned this week that manufacturing batteries for electric vehicles in the European Union will be "practically unviable" if leaders fail to rein in ballooning energy costs.
"Unless we manage to reduce energy prices in Germany and Europe quickly and reliably," Thomas Schäfer wrote in a Monday LinkedIn post, "investments in energy-intensive production or new battery cell factories in Germany and the EU will be practically unviable."