"We hope the chip supply crisis will bottom out this summer and expect to see an improvement in this situation within the second half of the year," Woellenstein, told.
BMW i Ventures, based in Mountain View, California, will manage the fund, as well as continuing to disburse money from its initial 500-million-euro fund.
Its focus continues to be on early to mid-stage startup companies, many of them based in Silicon Valley.
Mercedes-Benz has finally unveiled its 2022 EQS Luxury Electric Sedan, featuring a two-tone paint design, larger battery, a huge infotainment screen, and luxurious interior.
"This name change signals that VW is transitioning away from the internal combustion engine and to e-mobility," Gock said in response to emailed questions, including about April Fool's Day.
The revised name takes effect in May and the announcement came after several outlets on Monday reported on a draft release mistakenly posted on the automaker's US website.
We might be changing out our K for a T, but what we aren't changing is this brand's commitment to making best-in-class vehicles for drivers and people everywhere.