Volkswagen pushes ahead with electric future, retools factories – report

Volkswagen has revealed it is expanding its focus on electric vehicles, investing billions to retool its factories. In a call with investors and analysts on Monday, Volkswagen CEO Herbert Diess said the car company was spending €73 billion (AU$118B) to convert two German factories to support production of electric vehicles, reports news outlet Reuters. The Volkswagen boss admitted the company was aiming to compete with electric car maker Tesla.