Volkswagen says it will overtake Tesla in EV sales by 2025
The company’s CEO believes supply chain issues will start to alleviate later this year.
Volkswagen’s CEO believes the auto manufacturer will take over Tesla as the world’s best-selling electric vehicle (EV) manufacturer by 2025. Germany-based Volkswagen is the biggest auto manufacturer in Europe and its leader has big plans for the future of EVs.
Volkswagen CEO Herbert Diess spoke with CNBC during the World Economic Forum in Switzerland earlier this week. The company’s leader says that supply chain issues will start getting better for Volkswagen over the next few months, leading to a surge in EV production momentum.
“I think for Tesla…ramping up now will probably be a bit more challenging,” Diess told CNBC. “They are opening 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.”
Tesla is currently dealing with production issues due to demand
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This revelation comes at an interesting time, as Tesla has seemingly started to run into its own production issues. Tesla CEO, Elon Musk, recently said that the company is having a hard time keeping up with demand and could stop taking orders for new purchases soon.
Volkswagen, on the other hand, has a different outlook on the current supply chain crisis. Diess says the company “would see an alleviation of this [semiconductor shortage] situation towards mid-year.”
While the CEO admits that the semiconductor crisis is still far from over, he thinks that supply chains are starting to become more reliable once more.
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If true, we could see a major shift in the EV market overall. Tesla has been pioneering the technology for several years. But we’re starting to see many more established auto manufacturers, like Ford and Chevrolet, develop their own EVs.
And if what Volkswagen believes is actually true, it likely won’t be the only manufacturer to overtake Tesla in the EV market in the next few years.
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