The big bad wolf is not scared of more competition.
Volkswagen is no stranger to overcoming challenges, regardless of how big those challenges may be. It's managed to work past a huge emissions scandal and is now at the forefront of bringing electric vehicles to the masses, although it still hasa lot of work to doto reach the level that Tesla has. Tesla is undoubtedly the biggest threat to the German automaker's dreams of ruling the EV market, but the news that Apple is still pursuing its own EV prompted Volkswagen Group CEO Herbert Diess to respond to questions over whether the tech giant is a real concern for the VW empire.
In a LinkedIn post responding to one such question, Diess said: "We look forward to new competitors who will certainly accelerate the change in our industry and bring in new skills." What he says makes sense, as the more companies there are approaching suppliers about innovating in the race to autonomy, improved battery tech, and better EVs, the quicker the industry will advance and the better it will become. Diess also mentioned how tech giants have an advantage over many automakers when it comes to finances too: "The unbelievable valuation and practically unlimited access to resources instill a lot of respect in us."
With Tesla becoming the most valuable automaker in the world, those that are always at the forefront of innovation will certainly be a big challenge for the legacy automakers that are having to adapt to a new way of doing things. Tesla is also bringing the competition closer to home by building a new Giga factory near Berlin. But for the creator of the iPhone, things could have been better. Apple missed out on the chance to get the jump on Volkswagen when CEO Tim Cook ignored the opportunity to buy Tesla a few years back when things looked dire for the EV startup. Let's hope the Volkswagen ID.4 has what it takes to keep Volkswagen on the map for many years to come.