Volkswagen will scale up its production of electric vehicles to 16 factories from three now. It already has 20 billion euros ($24.8 billion) of battery contracts signed for Europe and China. North American needs are as yet unmet, which likely reflects uncertainties over rules-of-origin under revised NAFTA terms. The group has five production plants in North America, with one in the U.S. (producing the Passat) and four in Mexico (including the Audi Q5). Its Mexican operations are less exposed to the U.S. than other manufacturers’, with only 1-in-10 exports going to the U.S. Yet, it has in...
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