Traton Sees Opportunity in Electric Vehicles

Date : 10/02/2019 @ 8:58AM
Source : Dow Jones News
Stock : Volkswagen AG (VOW3)
Quote : 171.92  -5.6 (-3.15%) @ 1:11PM

Traton Sees Opportunity in Electric Vehicles

Volkswagen (XE:VOW3)
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By Carlo Martuscelli

 

Traton Group, the commercial vehicle arm of Volkswagen AG (VOW.XE), said it aims to invest over 1 billion euros by 2025 into research in electric mobility.

The Scania-brand owner said it sees growing demand for electric-powered commercial vehicles.

"In the midterm, we expect that the total cost of ownership of battery-powered commercial trucks used in distribution services and city buses will be comparable with vehicles powered by fossil fuels," said Andreas Renschler, chief executive of Traton SE.

The company said that it has already secured orders for electric trucks from Brazilian beverage producer Ambev, and that later in the year it will put an electric bus in operation in Stockholm.

 

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

 

(END) Dow Jones Newswires

October 02, 2019 04:43 ET (08:43 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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