VROOM: The forecast from Thomas Ulbrich, head of development at VW, is one of the starkest yet from an industry that, with some exceptions, still makes far more money selling traditional petrol engines than electric ones. Picture: Bloomberg/Liesa Johannssen-Koppiz
VROOM: The forecast from Thomas Ulbrich, head of development at VW, is one of the starkest yet from an industry that, with some exceptions, still makes far more money selling traditional petrol engines than electric ones. Picture: Bloomberg/Liesa Johannssen-Koppiz

EU emissions rules due to come into force as soon as 2025 are likely to make petrol cars less profitable than electric models, marking a landmark moment for the auto industry, according to a senior executive at Volkswagen (VW).

VW, the world’s second-largest carmaker, has set out plans to invest €35bn in electric vehicles as governments try to accelerate the transition to less polluting cars.

Financial Times

Space cowboy

The CEO of Virgin Galactic has laid out a goal of taking tourists to the edge of space at a rate of more than one flight a day, as the private space company looks to capitalise on founder Richard Branson’s successful test flight at the weekend. But Michael Colglazier, who took the helm at Virgin Galactic a year ago, hasn’t spelt out a timetable for the company to scale up its commercial operations and admits it faces big hurdles in expanding in the short term. "This is going to be a very supply-constrained business," he says.

Financial Times

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