VW looks to overtake Tesla

Posted on 16 Jun 2017 and read 493 times
VW looks to overtake TeslaVolkswagen (www.vw.com) says it is confident that it can overtake California-based Tesla to become the world leader in the electric-vehicle market.

The German car maker has set itself a target of one million electric-car sales by 2025, according to the Financial Times. However, Tesla has already said that it will produce one million vehicles by 2020.

At a press conference, VW brand chief Herbert Diess said that the company will concentrate on improving its profitability by cutting costs and enhancing productivity before 2020, after which it will shift its focus to manufacturing electric vehicles.

He said that VW will be able to use “leap-frogging cost advantages to profitably sell electric cars at the same price as diesel models go for today”.

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