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Shipments of its electric cars, which include the ID.3, fell by 24pc in Europe in the first three months of the year and dropped 16pc in the US. In May, VW indefinitely delayed the launch of its latest EV sedans in the US – a market it has long struggled to crack.
Drivers have gone off EVs globally as electricity prices have risen, while the cost of buying a new EV upfront has remained stubbornly high.
Despite this, VW must invest: the German business faces EU fines if it fails to boost its electric car…