Volkswagen: We’re coming for you Tesla

VW CEO Herbert Diess with a pre-production ID.3 at last year’s Frankfurt Motor Show. Picture: REUTERSWhile Tesla is paving the way in electric cars, VW is buying software companies and ramping up investments in sustainable vehicles and battery cells, Diess said on Friday at the World Economic Forum in Davos, Switzerland.

Still, Tesla has a competitive edge in electric cars and software, technologies that are underpinning a shift toward cleaner mobility. Volkswagen has started building its first mass-market EV, the ID3, in Germany. The compact hatchback will be a rival to Tesla's Model 3, which has helped lift the US automaker's sales in Europe.

Source: News Formal (newsformal.com)

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