Volkswagen CEO says EVs will be as good as Tesla’s and half the price

herbert diessVolkswagen CEO Herbert Diess.Michael Sohn / Associated Press

  • Volkswagen CEO Herbert Diess said last week that by 2020 the automaker will make electric vehicles that are as capable as Tesla‘s for half the price, Electrek reports.
  • “We will come in 2020 with vehicles that can do anything like Tesla and are cheaper by half,” Diess reportedly said on the German television program “Maybrit Illner.”
  • Volkswagen and Tesla did not immediately respond to Business Insider’s requests for comment.

 

Volkswagen CEO Herbert Diess said last week that by 2020 the automaker will make electric vehicles that are as capable as Tesla’s for half the price, Electrek reports.

“We will come in 2020 with vehicles that can do anything like Tesla and are cheaper by half,” Diess reportedly said on the German television program “Maybrit Illner.”

The comment came on Thursday’s episode, according to the German television station ZDF, which airs the program.

Volkswagen and Tesla did not immediately respond to Business Insider’s requests for comment.

Volkswagen said last year that it plans to invest around $40 billion in electric vehicles, self-driving vehicles, and mobility services by the end of 2022. The automaker is targeting sales of three million electric vehicles per year by 2025 across 50 planed models, according to Reuters. Volkswagen’s upcoming electric vehicles include the I.D. Buzz minibus, I.D. Crozz crossover SUV, and I.D. compact car.

Tesla has been a leader in electric vehicle range and technology, but its vehicles have been criticized for quality issues. The automaker’s most recent vehicle, the Model 3 sedan, has been praised by reviewers, including Business Insider’s Matthew DeBord, who said a version priced at $57,500 was “among the small cadre of vehicles I’ve driven in my life that I have felt fit me absolutely perfectly and satisfied my every desire.”

Have a Tesla news tip? Contact this reporter at [email protected].

Get the latest Tesla stock price here.

Source link

more recommended stories

  • State abortion bans could benefit Democrats in 2020

    WASHINGTON (AP) — A flood of.

  • Renault, Fiat Chrysler reportedly in deal talks for a major tie-up

    Fiat Chrysler is in advanced talks.

  • Trump, Iran near brink of a war that would likely devastate both sides

    Tensions between the US and Iran.

  • This convertible clutch is the most stylish way to organize essentials

    Insider Pickswrites about products and services.

  • I toured a $58.5M condo for sale in a Billionaires’ Row tower in NYC

    New York City is no stranger.

  • What science says parents should do to set their kids up for success

    When kids witness mild to moderate.

  • What is a late term abortion and why do women have them?

    Democratic presidential candidate Pete Buttigieg shut.

  • Tesla cuts prices of Model S, Model X as stock slumps

    Faced with a slumping stock price.

  • Michael Cohen implicates Sekulow, Giuliani, Trump Jr. in House testimony

    Michael Cohen has long been considered.

  • ‘Game of Thrones’ Isaac Hempstead Wright defends finale, Bran’s story line

    “Game of Thrones” star Isaac Hempstead.

  • Trump speaks out against parts of extreme anti-abortion laws

    President Donald Trump has distanced himself.

  • Alexandria Ocasio-Cortez Wonder Woman comic cover upsets DC Comics

    She’s a 29 year-old congresswoman who.

  • Google suspended some business with Huawei after Trump blacklist

    NEW YORK (Reuters) – Alphabet Inc’s.

  • OnePlus 6T review: Why it’s better than expensive flagship phones

    The OnePlus 6T runs on the.

  • Tony Robbins recorded telling woman she was ‘lying’ about abuse

    According to an investigation from BuzzFeed.

  • Adidas is releasing another pair of ‘Game of Thrones’ sneakers

    Following up on their hit UltraBOOST.

  • How to make people like you immediately

    According to the “mere-exposure effect,” people.

  • Fifth grader who told classmates to stop doing the Nazi salute was pulled out of class

    An elementary school in Tennessee will.

  • Scientists develop light-activated bio-glue that could seal fatal wounds in seconds

    A new ‘biological glue’ developed by.

  • Joshua Jones speaks out after helping disarm STEM School Highlands Ranch shooter

    One of three students who helped.

  • Helicopter crashes into New York’s Hudson River

    A helicopter has crashed into the.

  • Apple’s Supreme Court loss could harm its App Store business

    Thanks to the Supreme Court, Apple.

  • How to allow pop-ups in Google Chrome from all sites or specific ones

    Pop-ups can be the scourge of.

  • Uber’s CEO sent an email to employees addressing its disastrous IPO, drawing on Amazon’s and Facebook’s rough starts (UBER)

    Getty/Spencer Platt Uber CEO Dara Khosrowshahi.

  • Watch Winnie the Pooh meet the royal family in a new video

    Disney is celebrating the birth of.

  • Times celebrities got accused of lip syncing

    One of the most legendary instances.

  • Uber CEO Dara Khosrowshahi is part of a family of impressive techies

    Led by CEO Dara Khosrowshahi, ride-sharing.

  • All the food Miss USA typically eats in a day

    On May 2, Cheslie Kryst was.

  • Where do billionaires live? Top 15 cities for billionaires worldwide

    Billionaires are increasingly becoming concentrated in.

  • House Democrats overplayed their hand to get the full Mueller report

    The war between the White House.

  • How to use Google Maps offline

    Where would we be without Google.

  • Anna Delvey: Fake heiress sentenced to prison for up to 12 years

    Socialite scammer Anna Delvey was sentenced.