Volkswagen AG and Toshiba Corporation have signed a “letter of intent” in Wolfsburg with an objective to cooperate on the development of electric drive units to power Volkswagen’s planned “New Small Family” - a phrase used by Volkswagen CEO Martin Winterkorn for the prodction Up! concepts.
“Volkswagen is forging ahead with the development of future drive [...]
Volkswagen AG and Toshiba Corporation have signed a “letter of intent” in Wolfsburg with an objective to cooperate on the development of electric drive units to power Volkswagen’s planned “New Small Family” - a phrase used by Volkswagen CEO Martin Winterkorn for the prodction Up! concepts.
“Volkswagen is forging ahead with the development of future drive technologies in many different areas,” said Winterkorn in a statement. ”In order to further strengthen our position, Volkswagen is investing in the long term and is offering cooperation projects to other companies. One of the important components in this context is the cooperation with Toshiba.”
Winterkorn said that Volkswagen’s goal is to be the first manufacturer to provide emissions-free vehicles on a large-scale production electric-car. However, he warned that a considerable amount of research and development work still has to be carried out until V-dub can produce the electric vehicle.
The letter of intent was signed Winterkorn and the president and chief executive officer of the Toshiba Corporation, Atsutoshi Nishida.
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