Volkswagen and Toyota ‘conspiracy’ to overthrow Tesla boss

Volkswagen and Toyota 'conspiracy' to overthrow Tesla boss - Photo 1.

Volkswagen ID.3 electric car inside the production plant in Dresden (Germany) – Photo: BLOOMBERG

The epic battle over who controls the future of the auto industry is about to get a lot more interesting, according to Bloomberg News.

Tesla Inc. has timely grasped the early stage of the new energy era and is dominating the electric car market in the world.

At rest are car manufacturing giants like Germany’s Volkswagen AG and Toyota Motor Corp. of Japan. In December 2021, the two largest automakers in the world met to set out a plan to spend $ 170 billion to buy Tesla in the coming years to maintain strength in an industry they already dominate. for many decades.

Mr. Andy Palmer, former director of Aston Martin (the British manufacturer of expensive sports cars) and Nissan Motor (the Japanese car manufacturer), commented that when the world’s two largest car companies decided to invest in To invest in the production of all electric vehicles, using electric cars will be the mainstream in the future.

The giant is making all-out efforts to “occupy” billionaire Musk’s company, Volkswagen (VW). VW has grown over 84 years, to a conglomerate of dozens of brands, with production in about 120 locations around the world.

The group has about $280 billion in annual revenue with models ranging from the Tiguan and Passat to Lamborghini supercars and Scania heavy-duty trucks.

On December 9, VW CEO Herbert Diess unveiled his biggest plan, which is allocating $100 billion for electric vehicle (EV) development and software development over the next half decade. .

VW’s initial foray focused on luxury electric models like the Audi e-tron and Porsche Taycan.

“Our transformation will be faster than anything this industry has seen in the last century,” Diess said at an event in March 2021.

Meanwhile, a few months ago at a racecourse in western Japan, Toyota Corporation’s future plan also “appeared”, which is an electric SUV bearing the symbol bZ4X.

“Faced with a world of uncertainty, what we need are diverse solutions,” the group’s chairman and grandson of the Toyota founder said at a meeting of Deutsche Bank on Thursday. 11-2021.

However, the Toyoda president admitted that the company entered the all-electric car market “a little late”.

Of the $70 billion Toyota spends on electrification in the 2020s, half will go to all-electric models. The Japanese automaker is aiming to sell 3.5 million electric vehicles (EVs) a year by the end of the decade, nearly double the target set just seven months earlier.

Tesla decided to keep market share

Rushing to accelerate growth, Tesla is also working on some of its scaling activities.

By the end of 2021, Tesla had delivered more than 936,000 vehicles, an increase of nearly 90%. The company also plans to invest $188 million in a two-year-old factory in Shanghai (China) to upgrade equipment and increase production to 450,000 units per year. The company will add 4,000 more workers at the facility, bringing the total to about 19,000.

Two new Tesla assembly plants – one outside Berlin (Germany) and the other in Austin, Texas (USA) are also preparing to start production.

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