As per a report on Financial Times, the German automaker, Volkswagen is planning to ‘leapfrog’ the competition and become the market leader by 2025 as the brand is shifting its focus to battery-powered vehicles.
The company is targeting 1 million electric car sales by 2025 which means the company is on the clear path to clash the current biggest electric carmaker, Tesla which sold nearly 80,000 units last year and plans to touch the 1 million mark by 2020.
The report quoted “Anything Tesla can do, we can surpass," declared Herbert Diess, head of the VW brand at its Wolfsburg headquarters.
While Tesla is targeting the premium market, Volkswagen is planning to expand its electric car market in the volume market.Also Read: Royal Enfield Classic 350 Redditch Series: Five Interesting Things You Need to Know
“We are confident that in this new world we will become a market leader," Herbert added.
“[Tesla] is a competitor we take seriously. Tesla comes from a high-priced segment, however, they are moving down," Diess said, referring to the $35,000 Model 3, which enters production this summer. “It’s our ambition, with our new architecture, to stop them there, to rein them in."
The biggest challenge in front of VW to accomplish its plan is to ramp up investments in both electric and combustion engine technology, all the while cutting costs overall.
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