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.
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.
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