Elon Musk Likes That This Tesla Rival Is Making Its Own EV Batteries

Tesla Inc (NASDAQ: TSLA ) CEO Elon Musk has reacted to the news that rival Volkswagen AG (OTC: VWAGY ) is building its own electric vehicle batteries. What Happened: Musk tweeted “Great!” in response to a Slashdot article that said Tesla’s German rival was announcing a $20 billion effort to build its own EV batteries. Great! — Elon Musk (@elonmusk) July 8, 2022 Volkswagen will create a new company called Power Co to build batteries as it vies to secure enough capacity, according to Slashdot. Why It Matters: It was recently reported that Warren Buffett -backed ... Full story available on Benzinga.com