Volkswagen Receives a Huge Boost in the Fight against Tesla

Volkswagen reports that Siemens has invested $450 million into Electric Charging Company Electrify America.

It was dubbed "The Diesel Dupe." In 2015 The U.S. Environmental Protection Agency has accused Volkswagen

Find Volkswagen AG ADR Report of infringing on The Clean Air Act after the German automaker was discovered to be installing 

"cheat devices" in 490,000 of its diesel-powered vehicles. Don't miss out on the next great investment opportunity! Save money on TheStreet Smarts in Our Fourth of July Sale!

The devices could determine the time of day when cars were being tested , and manage the Co2 emissions to a minimum extent. 

The devices would turn off in normal driving conditions and emissions would rise dramatically.

Volkswagen had used the software in around 11 million cars around the world including 500,000 across the United States.

This scandal forever rocked the business and its stock prices plummeted the top executives resigned as well as its image was with a sour taste.

In an agreement for settlement to the EPA, Volkswagen created Electrify America, an electric vehicle charging company in Reston, Va.

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