Volkswagen Sets Eyes on $22,000 EV as It Looks to Rival Tesla, CEO Says Focus on Simplifying Company Structure, Building up Competencies

Volkswagen Sets Eyes on $22,000 EV as It Looks to Rival Tesla, CEO Says Focus on Simplifying Company Structure, Building up Competencies
The VW logo is on display at the headquarters of German carmaker Volkswagen (VW) in Wolfsburg, northern Germany, on March 26, 2021. Ronny Hartmann/AFP via Getty Images
Benzinga
Updated:
Volkswagen Group CEO Herbert Diess said on Wednesday self-driving technology will be a big game-changer in the coming years and that the German automaker is working on a $22,000 electric car as it speeds up efforts to overtake current market leader Tesla Inc. in the electric vehicle space.

VW and Self-Driving

Diess talked about autonomous driving, which he sees as the biggest gamechanger for the automotive industry.

“So this will be a long process of competition for a long period to come. We are building up competencies to become a serious competitor in this race,” Diess wrote in his first Ask Me Anything Q&A event that he held on the social media platform Reddit.