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Benzinga
Benzinga
Technology
Shanthi Rexaline

Volkswagen Seeks To Pull A Ford With EV Focused Company In US Amid Tight Race With Tesla: Report

German automaker Volkswagen AG (OTC:VWAGY) is leaving no stones unturned in gaining a foothold into the lucrative U.S. electric vehicle market.

What Happened: Volkswagen is working on launching "Scout," a dedicated EV company in the U.S. and its supervisory board will vote on the proposal as early as Wednesday, TechCrunch reported, citing sources familiar with the plan.

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