VOLKSWAGEN’S TOUGH OPPOSITION CLOSING IN ON TESLA INNOVATIONS

The chief executive officer of Volkswagen AG kicked off a March 15 news conference modeled after Tesla Inc.’s “Battery Day”, Diess called his “Power Day”, by stating that the only one way to quickly reduce emissions from transportation is to go electric. Skeptics could be forgiven for raising their eyebrows at that message, coming as it was from the same carmaker that spent years gaslighting the world about “clean diesel.” But VW is finally seeing the payoff from its five-year effort to create a standardized platform to underpin dozens of electric models. “Many in the industry questioned our approach,” Diess said during the two-hour infomercial he led from VW’s headquarters in the German city of Wolfsburg. “Today they are following suit, while we are reaping the fruit.”

VW last year became the No. 1 electric-vehicle maker in Europe, where sales of battery-powered cars surged thanks to stricter carbon dioxide limits. After the introduction of the ID.3 hatchback in 2020, the ID.4 crossover, the first global model based on VW’s electric platform is starting to reach showrooms from Shanghai to Chicago. This year, VW plans to deliver 1 million plug-in hybrid and fully electric vehicles, and Diess aims to surpass Tesla in EV sales no later than 2025. Although some predict it mighy happen much sooner.

Tesla on the other hand an American electric vehicle and clean energy company based in Palo Alto, California. With current products including electric cars, battery energy storage from home to grid scale, solar panels and solar roof tiles, as well as other related products and services. It's ranked as the world's best-selling plug-in and battery electric passenger car manufacturer, with a market share of 16% of the plug-in segment and 23% of the battery electric segment in 2020 sales. Through its subsidiary SolarCity, Tesla develops and is a major installer of solar photovoltaic systems in the United States. Tesla is also one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020.

It also had a dominance projection of 20yrs or more, which subsequently makes competition with Tesla more unrealistic until the VW analysis was released some days ago, despite innovations that seems to boast longer period of dominance, VW is predicted to surpass Tesla's automobile market sales and value by 2025, by a million mile earlier than it was initially predicted.

credits-Wikipedia