German automaker Volkswagen is working on an all-electric car that will cost only $23,000. VW is aiming to compete with Tesla’s (TSLA - Free Report) lower-cost Model 3.
Its initial production target is 200,000 vehicles and will convert 3 of its production factories in Germany. VW has been working on the MEB (modular electric drive matrix) platform to help develop its electric car.
It hopes to sell 10 million vehicles by the end of its “first wave.” VW is also partnering with SK Innovations, a South Korean batter cell manufacturer.
Since the Dieselgate scandal, VW has been under intense pressure to right the many wrongs it caused. While it has made strong headway in the EV space already, this marks VW’s biggest push yet.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
German automaker Volkswagen is working on an all-electric car that will cost only $23,000. VW is aiming to compete with Tesla’s (TSLA - Free Report) lower-cost Model 3.
Its initial production target is 200,000 vehicles and will convert 3 of its production factories in Germany. VW has been working on the MEB (modular electric drive matrix) platform to help develop its electric car.
It hopes to sell 10 million vehicles by the end of its “first wave.” VW is also partnering with SK Innovations, a South Korean batter cell manufacturer.
Since the Dieselgate scandal, VW has been under intense pressure to right the many wrongs it caused. While it has made strong headway in the EV space already, this marks VW’s biggest push yet.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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