VOLKSWAGEN CEO DES: ONLY KEEP UP WITH TESLA CAN THEN SURPASS IT

Today, as countries around the world become more stringent on emissions standards, major traditional fuel vehicle manufacturers are accelerating the transition to electrification. There is no doubt that Tesla, which has been aiming for electric isations from the start, is still the overlord of electric cars in the era of electrification. Volkswagen, which had previously been ill-prepared in the age of automotive electrification, is more awkward in the current market and has begun to follow in the footsteps of Tesla, making the difficult transition to electrification and intelligence.

VOLKSWAGEN CEO DES: ONLY KEEP UP WITH TESLA CAN THEN SURPASS IT

Herbert Diess, chief executive of Volkswagen Group, recently sent a signal to Elon Musk that we are pointing to Tesla,media reported.

Mr Deiss said Tesla was paving the way for electric cars, while Volkswagen was buying software companies and investing more in sustainable models and batteries. In the current market, it’s a level playing field, and Volkswagen can only overtake Tesla at some stage if it keeps up.

Although Tesla’s annual car sales are only a fraction of Volkswagen’s, it has yet to make an annual profit. But, shockingly, Tesla has surpassed Volkswagen by market capitalisation, second only to Toyota and the world’s second-largest car company by market capitalisation.

Still, Dees seems to understand the situation facing Volkswagen. At a meeting of VW’s global board last week, Mr Dees said Volkswagen was accelerating its transition from a traditional carmaker to a self-driving and smart net-link car maker. And chanted: “The era of traditional carmakers is over.” “

Meanwhile, according to Volkswagen’s latest strategic plan, Volkswagen plans to invest 60 billion euros in hybrid, electric mobility and digital transportation and digital technology between 2020 and 2024, of which 33 billion euros will be invested in electricization and the remaining 27 billion euros will be spent on hybrids and digital.

“2020 will be a very difficult year for the automotive industry, but we are doing the right thing to stay competitive,” Dees said. “