Tags: volkswagen | tesla

Volkswagen to Tesla: Look in Rearview Mirror, Here We Come

Image: Volkswagen to Tesla: Look in Rearview Mirror, Here We Come

A Volkswagen all-electric crossover utility vehicle on display. (Imaginechina via AP Images)

By    |   Tuesday, 09 May 2017 08:00 AM

Volkswagen is coming up fast on Tesla and the German automaker said it plans to surpass the upstart U.S. electric car company with sales of one million by 2025.

Herbert Diess, chairman of the board of management of the Volkswagen passenger cars brand, told the Financial Times his company's experience in mass producing cars gives it a big advantage over Tesla.

"Anything Tesla can do, we can surpass," said Diess, a former BMW executive who has worked for Volkswagen since 2015. "We are confident that in this new world we will become a market leader."

Diess said a wider rollout of its car-building architecture, allowing different Volkswagen brands to share parts, technology, and assembly sequences, will give it "leapfrogging cost advantages" over Tesla.

"(Tesla) is a competitor we take seriously," Diess said. "Tesla comes from a high-priced segment, however they are moving down. It's our ambition, with our new architecture, to stop them there, to rein them in."

Volkswagen is trying to overcome an emissions scandal that has tainted its reputation in the United States. In March, the company pleaded guilty to fraud, obstruction of justice, and falsifying statements as part of a $4.3 billion settlement reached with the U.S. Justice Department earlier in the year, reported Reuters.

As part of the settlement, Volkswagen admitted it intentionally cheated on emissions tests for at least six years, which led to the departure of its chief executive and damaged its reputation around the world.

Volkswagen agreed to spend up to $25 billion in the United States to address claims from owners, environmental regulators, states, and dealers and offered to buy back about 500,000 U.S. vehicles.

Tesla is continuing with plans to roll out its mass-market Model 3 in July, ahead of schedule, reported Business Insider, bypassing the manufacturing prototype stage and going straight to full production.

The reported $35,000 vehicle will have the ability to travel up to 200 miles on a single charge.

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Volkswagen is coming up fast on Tesla and the German automaker said it plans to surpass the upstart U.S. electric car company with sales of one million by 2025.
volkswagen, tesla
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2017-00-09
Tuesday, 09 May 2017 08:00 AM
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