Electric cars

Volkswagen’s electric cars fill gaps with Tesla, says Volkswagen CEO

Source: Mint

Electric car maker Tesla now has strong competition in the market, with Volkswagen’s chief executive saying the company’s electric car business is gradually closing gaps with Tesla. The CEO also assumes the automaker can push forward in the race to dethrone Tesla from the position of most dominant electric vehicle company by the end of 2024.

It should be noted that CEO Herbert Diess made the remark just days after Musk’s (the CEO of Tesla) statement that Volkswagen was the second market leader in electric cars after Tesla was made public. .

Although the estimate suggests that Volkswagen would leave behind Tesla in terms of net sales of the electric vehicle, the CEO of Tesla doubts. He said he disagreed with the hypothesis. Musk was seen praising Chinese automakers before saying his electric vehicle company isn’t worried about its rivals. But, Musk made a statement on Volkswagen’s electric car business, suggesting his company is watching European automakers closely.

At the same time, Diess said the easing of supply chain difficulties would likely help create some momentum for the European automaker over the next two months. Asked if Tesla gets more prominence from capitalists than other traditional automakers, the Volkswagen CEO replied that markets are always looking to the future.

He added that as of now, Tesla dominates the electric car market. It is also a highly digitized automaker with many other advantages, but Volkswagen still believes it will continue to grow and best Tesla in the coming years in terms of sales.

To add to his remarks, Diess said that, in his opinion, in the current situation, it is difficult for Tesla to scale up. The company is focused on creating new manufacturing industries while Volkswagen tries to keep up the pace. The Volkswagen CEO believes that in the second half of 2022 the company would likely create a push.

The previous year, the current EV market leader supplied 936,000 or more EVs globally, while Volkswagen recorded net sales of around 453,000 all-electric cars.

According to Musk, Tesla aims to manufacture around 1.5 million electric cars in 2022. Volkswagen, on the other hand, is electrifying its number of high-speed vehicles and increasing the number of electric cars manufactured to meet growing demand.