Meghana KandraBeing a global brand, VW is struggling to compete with the coming electric vehicles.
It wasn’t until long ago that Nokia picked up the pace, and started manufacturing smartphones. Before the smartphone era, Nokia was one of the most popular brands, their downfall is not something other corporations want them for themselves.
As per the announcement, VW is going to spend $30 Billion in partnerships, R&D, and other such innovations. While capital is important for a manufacturer, their sudden involvement of huge investment came as a surprise. Catching up with tesla is
Maybe Volkswagen can beat Tesla after all
No doubt, VW publicly coming out as a Tesla operator is not something to ignore. Volkswagen’s Herbert Diess is confident about making things work.
Since their scandalous downtime, the company has worked back to the top, and it is not ready to go back down yet. Since starting of 2021, their shares have picked up drastically by about 36%.
Technically, their $30 billion investment is not equal to Tesla’s capital. Investment doesn’t mean success. According to the experts, VW has the potential to earn through operations by 16 Billion euros.
The already existing models by VW are a huge hit in Europe and the US. The negative skepticism about VW going to fail largely seems to be impacted by the downfall the company had in 2015.
Tesla is not alone
Back in 2017, Tesla was the most popular electric vehicle manufacturer. In recent years, there is a rise in awareness about pollution reduction and renewable energy resources. Simultaneously, research focus on development in clean energy.
The automobile industry all around the world is focusing on developing a unique EV of their own. VW being the topmost automobile industry, would definitely consider Tesla as their competitor and work on being better in terms of quality and affordability.
VW, the next Samsung
If Volkswagen is not going to be the next Nokia, it is definitely going to be the next Samsung. Tesla is known as Apple in the car industry because of its innovation and new tech. VW is not backing down anytime soon, they are clear about their goals.
VW has its challenges, which they are yet to overcome. But, they were once one of the best automakers in the world, and they are prepared to be so again.
Whatsoever, Tesla started its EV journey long before others and is most likely to remain at the top. It is the second place, the other car-makers are fighting for.