Volkswagen prepared for an “arms race” with Tesla

German automaker Volkswagen has braced itself for an “arms race” in the electric vehicle market after the pandemic ends. Bloomberg writes about this with reference to the statement of the head of the German auto giant Herbert Diess.

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In the long term, climate change will become the main problem for humankind, Disss said. In the next 5-10 years, the green agenda will finally change the global car market and bring electric cars and environmentally friendly transport to the fore.

In order not to become Nokia in the world of cars and catch up with the world leader in the production of electric cars — the American company Tesla — Volkswagen is going to increase investment in technology creation, increase capacity for the production of batteries and convert entire factories for the production of electric vehicles. “If you cannot adapt to new realities quickly enough, you will not survive in the market,” Diss said.

Earlier it was reported that sales of electric vehicles in Europe are growing so rapidly that in the near future the region will be able to take the lead from China in this indicator. However, unlike China, the EU has not yet created a high-quality infrastructure, and government subsidies for the purchase of electric vehicles are unpopular.

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