Volkswagen chief executive Herbert Diess has acknowledged that overtaking Tesla as the world’s largest producer of electric vehicles by 2025 will not be easy but remains hopeful.
In early 2021, the German car manufacturer announced its intent to be the world’s largest EV producer by 2025 and while speaking at the recent FT Future of the Car 2022 conference, Diess said this still remains a goal for VW while acknowledging Tesla’s ongoing success.
“It will be a tight race but we won’t give up on it,” Diess said. “I have to say we didn’t expect our main U.S. competitor to be so fast and well-prepared,” he added while speaking about Tesla.
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Diess believes that VW has a chance to overtake Tesla thanks to its larger product offering that includes everything from volume brands and models through to luxury and premium cars. VW’s boss added that the company wants to more than double its market share in the U.S. to 10 per cent and said that doing so would require an additional plant as well as local battery production, Reuters reports.
In late March, VW revealed it will invest $7.1 billion to produce electric vehicles in North America and plans to offer 25 new EVs to buyers in the U.S., Canada, and Mexico by 2030. Significant investments are being made to convert existing factories into ones capable of building EVs.
“American ingenuity and manufacturing know-how are at the heart of our strategy for growth, and thousands of men and women are working hard every day throughout North America to bring the Volkswagen brand to life for consumers,” Volkswagen Group of America boss Scott Keogh said at the time. “This profound commitment to our localized capabilities will transform Volkswagen into one of the leading EV brands known for its commitment to innovation, quality, and the communities we call home.”
