new vehicles sold globally in 2018 — as it waits for them to gain greater traction with consumers. The global fleet of EVs is expected to grow quickly, surpassing 130 million by 2030, per the International Energy Agency.
Automakers that may not have the same EV research and development resources as VW could see the PPE platform as a path to enter the burgeoning market. VW's product will likely be of great interest to smaller automakers or those that haven't made inroads into EV development yet. Adopting VW's tech would enable these rival automakers to offer an EV model to capture a slice of the evolving auto market, without spending years on developing their own tech. VW's premium EV tech could also help automakers that already have EV models expand their range of offerings. Ford followed this approach in July 2019 when it
a deal to use a different VW EV platform as the base for an upcoming vehicle, enabling it to present customers with more EV options than its in-house EV tech would allow.Join thousands of top companies worldwide who trust Business Insider Intelligence for their competitive research needs. >>
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