The head of Volkswagen promised to bypass Tesla in the race of the creators of electric cars

The head of Volkswagen promised to bypass Tesla in the race of the creators of electric cars

January 25, 2020 0 By autotimesnews

Volkswagen CEO Herbert Diess believes the German concern should beat Tesla Motors in an electric car development competition. This statement was made by a top manager at the World Economic Forum in Davos, reports Automotive News.

“This is an open race. We are optimistic about the future and are confident that we will not only be able to go side by side with Tesla but also surpass it at a certain stage, ”said Diss.

At the same time, the market value of Tesla Motors’ business recently exceeded the $ 100 billion mark for the first time in history and outperformed Volkswagen in terms of investment attractiveness. In addition, Tesla intends to strengthen its position in Europe – recently, the Americans began preparations for the construction of a new automobile plant near Berlin.

Earlier, Herbert Diss announced the imminent decline of the era of traditional automobile manufacturers. The head of Volkswagen announced the task of increasing the market value of Volkswagen from the current $ 91 billion to $ 200 billion. According to the top manager, this can be achieved through a review of the assets of the concern, cost reduction, as well as additional investments in the development of new technologies, for example, in “connected” cars and unmanned control systems.

He also emphasized that he did not want to follow in the footsteps of Nokia, which in the mid-2000s dominated the mobile phone market, but subsequently refused to further develop its own operating system and was forced to sell this business line.