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Volkswagen CEO declares “open race” to Tesla

Herbert Diess, CEO of the Volkswagen Group, said he could overtake Tesla in the future in the electric car segment. For the leader of the German group “it is an open race”.

The company led by Elon Musk remains the target to be slaughtered by all builders who invest in electric cars. Tesla has grown more and more, but Herbert Diess wants to counter this trend.

Volkswagen ID.3
Volkswagen ID.3 is the big electric bet of the German brand for 2020

“We are very optimistic that we will be able to keep pace with Tesla and probably exceed them at some point,” the executive said in an interview with Bloomberg TV.

Tesla takes the lead when it comes to electrical technology and software. For its part, Wolkswagen has made efforts to acquire several software companies, and to make a strong investment in sustainable vehicles, batteries and digitization.

Volkswagen plans to invest 60 billion in electric vehicles

To overtake Tesla, the German group plans to invest in this segment, something like 60 billion euros over the next five years. But Diess is aware that it will take much more than money to lead.

“The company that adapts the fastest and is the most innovative, but which also has sufficient scale in the world, will win the race”, he admits. Volkswagen ID.3 will be the company’s first proposal to fight the Model 3. We will see if the company achieves the same success in electric vehicles as in combustion vehicles.

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