Volkswagen's CEO said it will make EVs that are as good as Tesla's for half the price in 2020: Report
- Volkswagen CEO Herbert Diess said last week that by 2020 the automaker will make electric vehicles that are as capable as Tesla's for half the price, Electrek reports.
- "We will come in 2020 with vehicles that can do anything like Tesla and are cheaper by half," Diess reportedly said on the German television program "Maybrit Illner."
- Volkswagen and Tesla did not immediately respond to Business Insider's requests for comment.
Volkswagen CEO Herbert Diess said last week that by 2020 the automaker will make electric vehicles that are as capable as Tesla's for half the price, Electrek reports.
"We will come in 2020 with vehicles that can do anything like Tesla and are cheaper by half," Diess reportedly said on the German television program "Maybrit Illner."
The comment came on Thursday's episode, according to the German television station ZDF, which airs the program.
Volkswagen and Tesla did not immediately respond to Business Insider's requests for comment.
Volkswagen said last year that it plans to invest around $40 billion in electric vehicles, self-driving vehicles, and mobility services by the end of 2022. The automaker is targeting sales of three million electric vehicles per year by 2025 across 50 planed models, according to Reuters. Volkswagen's upcoming electric vehicles include the I.D. Buzz minibus, I.D. Crozz crossover SUV, and I.D. compact car.
Tesla has been a leader in electric vehicle range and technology, but its vehicles have been criticized for quality issues. The automaker's most recent vehicle, the Model 3 sedan, has been praised by reviewers, including Business Insider's Matthew DeBord, who said a version priced at $57,500 was "among the small cadre of vehicles I've driven in my life that I have felt fit me absolutely perfectly and satisfied my every desire."
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