Germany’s Volkswagen Group could grab the top electric vehicle (EV) maker crown from Tesla Inc., according to a research report by Bloomberg Intelligence.
Volkswagen’s battery electric vehicle share already tops that of Tesla in Europe and the legacy automaker needs to replicate that success in other regions, particularly China where it is currently struggling to grow the electric vehicle share.
“Tesla’s new EU capacity and buoyant global demand should enable it to retain its sales crown for at least another year, though Volkswagen is hot on its heels and could overtake in 2024,” the report said.
“Execution will be key to encroaching on Tesla’s $750 billion market capitalization.”…