Robert Besser
13 May 2022, 17:04 GMT+10
WOLFSBURG, Germany: Tesla's expansion took Volkswagen by surprise, said an official, and the German carmaker may struggle to overtake Tesla, its U.S. rival.
Speaking via video link from Germany at a Financial Times auto conference, Herbert Diess, Volkswagen's chief executive, said, "We did not expect our main U.S. competitor to be so fast. It will be tight, but we will not give up on it. I would still see a chance that by 2025 we are first. At least second."
Tesla, under Elon Musk, has become the world's largest carmaker by stock market value, at nearly $900 billion, compared with VW's €89 billion in 2021. Of the 8.9 million vehicles VW sold last year, 452,900 were EVs.
For the last two years, Toyota has sold the largest number of autos worldwide, but has decided to opt for a slower transition towards electric vehicles.
The chief executives of Volkswagen and Tesla seem to share a close relationship. In 2020, Musk test-drove one of VW's ID.3 electric cars, accompanied by Diess in Germany.
In October, Musk joined a conference call of VW executives at the invitation of Diess to discuss how to speed the transition to electric technologies.
"The first quarter of 2022 was for sure dominated by the shortage of semiconductors, but added that there were signs of improving conditions in an issue that has dogged the industry's recovery from the pandemic," he said.
"Even under these really difficult circumstances, 2022 could still be a good year for us and for the car industry," he added.
Despite its plans to be the world's largest electric car manufacturer, Volkswagen only aims for 50 to 60 percent of its sales to be EVs by 2030, while traditional manufacturing rivals, such as Volvo and General Motors, are planning to only sell gasoline-powered vehicles through 2030 and 2035, respectively.
Get a daily dose of Professional Autos news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.
More InformationNEW YORK, New York - U.S. and global stocks tumbled Wednesday as lawmakers continued to navigate their way through Congress ...
PORTLAND, Maine: Fishermen in the US's only commercial-scale fishing industry for valuable baby eels, called elvers, have recorded a productive ...
LAS VEGAS, Nevada: A bill was introduced in the Nevada Legislature to provide the Oakland Athletics up to $380 million ...
WASHINGTON D.C.: Due to one of the tightest labor markets in decades, teenagers, who have been vital for filling summer ...
NEW YORK, New York - Republicans were in uproar Tuesday over the deal hammered out by President Joe Biden and ...
DETROIT, Michigan: After Ford Motor Co announced an agreement with Tesla to allow autos to be charged using the Tesla ...
New Delhi [India], May 31 (ANI): Days after the inauguration of the new Parliament building by Prime Minister Narendra Modi, ...
Place names, along with other urban symbols, were used as a tool of control over space in many African countries ...
While hiking near a river, chances are you've seen the tell-tale tree stumps with cone-shaped tips. Who carves these? A ...
Nobel prize nominee Dr. Garry Nolan claims extraterrestrial life forms have been on Earth for a long time and are ...
Islamabad - Global and local human rights campaigners in Pakistan asked the government Wednesday to transfer political activists who are ...
Guwahati (Assam) [India], May 31 (ANI): The Assam government will provide the National Food Security Act (NFSA) card to 40 ...