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Chris Bryant

Germany Wakes Up to Tesla

Elon Musk has stung Germany's mighty carmakers into action.

Tesla has taken plenty of flak lately, notably for its tendency to burn through vast sums of cash without delivering profit. But in at least one respect it's succeeding beyond CEO Elon Musk's wildest dreams: he's forced the once-untouchable giants of Germany's auto industry to accelerate plans for their own electric cars.

Top BMW executives won't attend the Paris Motor Show this year because they're busy plotting how to expand their electric range, Reuters reports. Meanwhile, Mercedes is preparing four new electric models and Volkswagen (owner of Porsche and Audi) has pledged that electric vehicles will comprise one quarter of sales by 2025.