Volkswagen Bets $50 Billion on Electric Future but Tesla Isn’t Sweating

[Lmaooo]

As cities all over the world look at ways to combat rising pollution levels, giant German automaker Volkswagen goes all in on electric as a transitional period of necessary change comes to the car industry.
The Future is Electric

No, these are not the words of democratic demagogue and enemy of the Fox people, Alexandria Ocasio-Cortez, but it is the sentiment outlined for the future of the automotive industry by the CEO of one of the world’s largest car manufacturers.

Herbert Diess, chief executive of Volkswagen, speaking at the Geneva Motor Show had this to say on how his company envisions the future:

    We are really getting into a transition period of the automotive industry and, reading between the lines of all the communications our competitors are doing, it will be tough times because we have to invest in new technology, not only electric drive trends but autonomous driving, connectivity.

Volkswagen showed that they plan to put their money where their mouth is on this claim by announcing a $50 billion plan to invest in new plants, electric cars, autonomous driving and mobility services. With this investment, VW aims to become the most profitable electric car company in the world.

CCN | https://www.ccn.com/volkswagen-bets-50-billion-on-electric-future-but-tesla-isnt-sweating

[Naida_BR]

Both groups have different target markets, and probably this is the reason why Tesla is not sweating. Also, Tesla moves towards a general innovation model that you can do anything with your car (I mean that you will not have it just to transport from one place to another).

At least at this stage, Volkswagen cannot compete with Tesla. Volkswagen has a solid European market to move around, where Tesla motors are not so familiar to the market, and Tesla can stick to the Americas so it is a win-win for both companies.

[aad140386]

This is actually amazing news. Global automotive brands are finally beginning to realize that the future is in electric vehicles. This is the least environmentally harmful transport which has an amazing future. Already, many companies are developing batteries that are able to provide a trip electric car 400-500km. Of course, prices are still very high, but progress does not stand still, and it is likely that over time electric cars will become much more affordable. Especially since the charging time has already been significantly reduced. Electric cars are a new trend for the next 50 years.

[tonyvo2017]

 This is an early step for VW. I think the market for gasoline cars is still very hot and we still have no intention of using electric cars. This is really a risky step for VW.
Tesla is calm with this because their technology is much ahead of VW. Tesla has been producing electric cars for a long time and VW is not a worthy rival.

[Beerwizzard]

Tesla is sweating during its entire existence. Elon Musk already admitted that he has made several serious mistakes as a manager. Their shares were always concidered as speculative and risky and the company could get bankrupt many times without governmental support.
Meanwhile, traditional companies like Volkswagen are developing their own cars with way fewer expenses and without getting money from the government.

[o_e_l_e_o]

This is the least environmentally harmful transport which has an amazing future.

Only when backed up with the relevant infrastructure. The electricity has to come from somewhere. If it is coming from coal, oil, or gas burning power stations, then your electric car is only marginally better for the environment than a traditional petrol or diesel car. If we look at the data here (https://www.weforum.org/agenda/2018/03/electric-cars-are-still-coal-powered/), electric vehicles in China produce 188 grams of CO₂ per mile, as the majority of China's energy comes from coal. France only produces 3 grams of CO₂ per mile, as that majority of its energy is from nuclear (without touching on the issues regarding generating and storing nuclear waste for potentially millions of years.) Norway is even less, as almost all of its energy is from renewable sources.

The electric car is obviously the future, but needs more commitment from governments and power companies, rather than just car manufacturers, to become environmentally friendly. Not to mention that electric cars are cheaper to run and easier to repair than traditional cars.

[davis196]

Should we post only economy topic/news that are somehow related to the crypto world?
Anyway,I've never really been a fan of Tesla's business model,despite the fact that Elon Musk likes bitcoin.
Volkswagen can beat Tesla very easy,but the main problem with the electric cars are the batteries.

[MakeMoneyBtc]

Sooner or later, I am sure that Tesla expected this to happen and that's probably why the are not sweating since the are prepared or it. Volkswagen is just a the beginning of the road to create their electric cars while Tesla is already doing this for years now and they have enough experience to know their company is the best and no one can compete with them.

[wuvdoll]

To begin with Tesla was not founded on the idea that they will make billions of dollars and become a huge car company that would make a lot of rich. The whole reason Tesla was founded was ideological and was based on the fact that we need electric cars to get rid of the old fuel cars and that way we could somehow manage to get rid of the dependency towards oil.

Obviously, there are tons of stuff we depend on oil on but if we somehow just change cars and trucks and so forth that works on electric that would be one way to stop it. They are also working towards (with solarcity) making homes work on renewable energy as well. So Volkswagen putting in 50 billion dollars for electric cars would be welcomed by tesla and not a scary thing, hell tesla would prefer if all car companies put their money towards electric cars instead of fuel.

[SaShiRaJaVu]

As cities all over the world look at ways to combat rising pollution levels, giant German automaker Volkswagen goes all in on electric as a transitional period of necessary change comes to the car industry.
The Future is Electric

There is no doubt that the future lies in renewable energy and less pollution will be the motto for the future and the oil industry will dry down in the future and the future lies in electric cars when it comes to automobiles as the pollution is a major concern everywhere and if that continues like this, we would be purchasing oxygen in the future like we purchase fresh water now a days. Telsa bought a revolution when it comes to electric cars and it is good to see competition as it is good for the end user.

[Oilacris]

Sooner or later, I am sure that Tesla expected this to happen and that's probably why the are not sweating since the are prepared or it. Volkswagen is just a the beginning of the road to create their electric cars while Tesla is already doing this for years now and they have enough experience to know their company is the best and no one can compete with them.

For a company tending to go with the same path then its never been too late and wont really matter if one is already ahead of you and you are just starting.
We cant really say that Tesla isn't sweating but they do already think off the possibilities of competition but well its still too early to make things collaborate and we should
focus on how these companies do try to create.

[Crypdon]

Volkswagen have made a partnership with IOTA so perhaps their new electric vehicles will will use their tokens for e.g. parts and tracking. Tesla should get on board before it's too late

[avikz]

Electric vehicles are the future just like cryptos. Almost all countries are planning to stop selling petrol/diesel vehicles within next 30 - 50 years. So at this point, $50 billion investment of VW makes sense! However, it is also true that Tesla is already 15 years ahead of VW in electric vehicle production and probably that's the reason why they aren't sweating! Tesla is the pioneer in producing electric vehicles that is commercially successful. So competing with Tesla is literally tough even for a giant car maker like VW.

But whatever happens, we as consumers are going to get benefited! That can be anything from technology to aggressive pricing!

[MakeMoneyBtc]

Sooner or later, I am sure that Tesla expected this to happen and that's probably why the are not sweating since the are prepared or it. Volkswagen is just a the beginning of the road to create their electric cars while Tesla is already doing this for years now and they have enough experience to know their company is the best and no one can compete with them.

We cant really say that Tesla isn't sweating but they do already think off the possibilities of competition but well its still too early to make things collaborate and we should
focus on how these companies do try to create.

Tesla has over 400.000 cars on the road meaning they will always be at least one step ahead of all its competitors since they will be able to work on their cars and algorithms faster to solve the problems and improve it. Tesla has also made major investments, spending $5 billions only to improve their battery manufacturing

[Oceat]

I just think that Tesla isn't sweating is because their main target is different from the Volkswagen company.

Anyway, it has a good point when making an electric car through a battery or by solar. In this way, it is more efficient when being used in daylight.

So, who would be the best that will stand out when it comes to an electric car?

[richminded]

Tesla knows that big car companies will make their own version of electric car, and I think also Mercedez Benz already announce their E-Car. Well, this is a great competition and let’s see who will offer the best with a much more affordable price. Tesla is just the first company to invent a more advance E-Car, it has no assurance that Tesla will still big in the future of bigger companies join the game.