The Volkswagen Group wants to become the number 1 electric vehicle (EV) manufacturer by 2025. The Group, which in addition to the Volkswagen brand, includes Audi, Skoda, Seat, Porsche and Lamborghini, has an impressive plethora of initiatives to succeed.
The second factor is legislation initiatives in China and the European Union necessitate a rapid global transition of ALL global manufacturers to electric vehicles. China is the largest vehicle market in the world and the European Union (EU) is the third biggest. Together they represent 80% of the Volkswagen Group market.
In effect, no global automaker can afford to ignore these two markets. That includes the U.S.-based Big 3 (GM, Ford and Fiat Chrysler) which must compete with other global manufacturers, even in North America.
The third factor driving VW ambitions is the success of Tesla, proving all pessimists wrong. At the January 2020 World Economic Forum in Switzerland, Volkswagen CEO, Herbert Diess, said of Tesla, that Tesla is “paving the way.”
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