Can These German Car Companies Slow Tesla?

Volkswagen is the latest carmaker to step up its game in the race to keep pace with industry and technology leader Tesla (TSLA) - Get Report  in the electric car market.

According to a company executive speaking in Shanghai, Volkswagen plans to introduce four affordable, all-electric cars over the next few years, while its Audi brand plans a luxury battery-operated crossover for 2019, according to a report from Bloomberg News.

The news agency on Tuesday quoted VW electric-car project chief Christian Senger saying the German company has made "huge progress" cutting costs for the vehicles.

READ MORE: Can These German Speed Bumps Slow Tesla's Model 3 Debut?

This article was written by a staff member of TheStreet.