October 29 - 10:10
Volkswagen set to leapfrog Tesla in EV manufacturing
Volkswagen aims to produce one million electric cars by the end of 2022, overtaking Tesla in the EV race. The German giant has plans to open two factories in China next year which will have a production capacity of 600,000 vehicles. Tesla's current target is 500,000 per year, helped by a new facility in Shanghai. Volkswagen CEO Herbert Diess recently admitted Tesla is now a "serious competitor".
> Tweets