CEO of Volkswagen says it will soon be beating Tesla in EV sales

Volkswagen CEO Herbert Diess spoke with CNBC to predict that Volkswagen's electric vehicle sales will surpass Tesla's by 2025.

@AdamHuntTT
Published Thu, May 26 2022 5:03 AM CDT   |   Updated Thu, Jun 16 2022 4:58 AM CDT

A recent CNBC interview with Volkswagen CEO Herbert Diess revealed where he sees the company's place in the electric vehicles market going.

Diess spoke to CNBC at the World Economic Forum in Davos, Switzerland, on May 24th, claiming that once Volkswagen has addressed global supply chain constraints due to the war in Ukraine and semiconductor supplies issues. The global semiconductor has impacted a vast number of industries, including the automotive industry, restricting the number of vehicles they can produce.

Diess expects that semiconductor supply issues will alleviate as the year goes on, and Volkswagen's production can bounce back. Though Tesla had the highest market share for all-electric cars sold worldwide in 2021 at 21 percent, Volkswagen is starting to catch up with 10 percent market share. Tesla sold 936,000, while Volkswagen sold 451,000, so they still have a ways to go.

"Tesla currently is in the lead when it comes to EVs, probably also it is the most digital car company already and they have some advantages. We are still aiming at keeping up and probably overtaking by 2025 when it comes to sales," Diess said.

"I think for Tesla, also, ramping up now will probably be a bit more challenging. They are opening up new plants and we are trying to keep up speed. We think in the second half of the year, we are going to create some momentum," Diess continued.

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CEO of Volkswagen says it will soon be beating Tesla in EV sales 01 | TweakTown.com
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Adam grew up watching his dad play Turok 2 and Age of Empires on a PC in his computer room, and learned a love for video games through him. Adam was always working with computers, which helped build his natural affinity for working with them, leading to him building his own at 14, after taking apart and tinkering with other old computers and tech lying around. Adam has always been very interested in STEM subjects, and is always trying to learn more about the world and the way it works.

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