Volkswagen to Expand in China

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The world's second largest carmaker said that over the next five years, it would invest 180 billion euros on electric vehicles. The European Union is planning to ban combustion engines by 2035. Volkswagen is quite a unique carmaker because it's decided to manufacture its own battery cells.

The Swiss central bank said it would provide a liquidity backstop to Credit Suisse, UK chancellor Jeremy Hunt unveiled a Budget that includes a £4bn expansion of free childcare, and Volkswagen is increasing its investments in electric vehicles.

Mentioned in this podcast:

Swiss central bank offers Credit Suisse liquidity backstop after share plunge

Jeremy Hunt’s “Budget for growth” boosts UK childcare

VW ramps up investments in electric car transition with €180bn injection

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