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9 May 2022

Volkswagen to Compete with Tesla to Become Largest EV Seller by 2025 – CEO

The Index Today

On Monday, Volkswagen’s CEO Herbert Diess revealed that the popular automaker will be locked in tough competition with Tesla to be crowned the world’s largest producer of electric vehicles by 2025.

According to Reuters, Diess said at the FT Future of the Car 2022 conference, "It will be a tight race but we won't give up on it." He also acknowledged, "I have to say we didn't expect our main U.S. competitor to be so fast and well-prepared."

Despite that, the CEO believes that Volkswagen still has the ability to overtake its opponent to become the global leader in EV production and sales given that the carmaker offers a more comprehensive range of products including premium and deluxe cars.

This comes after Tesla opened its first European gigafactory close to Berlin this year, becoming a significant competition to homegrown brands like Volkswagen, Mercedes-Benz, and BMW reported Reuters.

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