Volkswagen CEO: I’m not afraid of Apple

Volkswagen CEO: I’m not afraid of Apple

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“The auto industry is not a typical technology sector that you could take over with a single stroke,” Diess said in an interview with the German newspaper Frankfurter Allgemeine Zeitung. “Apple is not going to manage this overnight.”

For years, industry observers have speculated that Apple (AAPL) will launch its own autonomous electric car. That conversation resumed in December 2020, when Reuters, citing unidentified sources, reported that Apple planned to produce a passenger vehicle by 2024.

In April 2017, Apple received a license from the California Department of Motor Vehicles to test autonomous vehicles.

“There is so much going on [electric and autonomous vehicles] and connected technology, “Morgan Stanley analysts wrote in a note to investors in December 2020.” Perhaps it is the right time for the most valuable company in the world to play its hand in the $ 10 trillion global mobility market. “

Volkswagen also aims to be a dominant force in the field of electric cars. The automaker sold 231,600 battery-powered electric vehicles in 2020, according to data published by the company in January.

Although it is less than half the number of sales that Tesla made last year, it represents a 214% increase over the previous year and shows that Germany’s huge auto industry is starting to challenge the leader in electric cars.

That is why, as far as Apple’s competition is concerned, “we are not afraid,” Diess told the German newspaper.

Despite growing speculation, Apple has been quiet about its automotive ambitions, and the company still needs a partner for iCar.

– Clare Duffy and Charles Riley of CNN Business contributed to this report.

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