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For the past few years, Switzerland-based Mindset Holding AG had been planning a sports-car EV that would rival Tesla. You can stop waiting now, since Mindset is declaring bankruptcy after its funding possibilities dried up.

The National Platfrom for Electric Mobility was officially launched in Berlin, Germany on Monday and the Volkswagen Group showed off its upcoming array of hybrid and plug-in vehicles for chancellor Angela Merkel. The platform is a public-private alliance to promote the use of electrified vehicles.