Volkswagon sees the writing on the wall regarding the EV market. They want to have a truly competitive EV on the market by 2026.They realize that to be competitive with Tesla, they are going to have to spend billions to modernize their factories for EV production and that may even include demolishing some existing factories and starting over.
This is probably a sound plan. However, 2026 is a long way away. Tesla has proven to be able to go from groundbreaking for a new factory to having the first vehicles rolling off the assembly line in just one year. Will VW or any other automaker be able to do that ? By 2026 how many more factories will Tesla have operational around the world ? 3 or 4 I can imagine. And they will likely have several sub- $30k vehicles in their lineup.
Volkswagon is rightfully concerned about where the market will be in just a few years and is getting ready to make major commitments of resources to be a major player. I hope they succeed as competition is good for the consumer. Toyota may be in trouble, it doesn't look like their solid state batteries are going to be viable, at least not for many years and millions of dollars of development.
The big question is will the US automakers have the capitol to go whole hog like VW plans on doing ? Or by 2026 will they still be living in the 1980's and producing some mediocre EV's and hoping for brand loyalty and government (i.e taxpayer) bailouts to keep them in business ?
This is probably a sound plan. However, 2026 is a long way away. Tesla has proven to be able to go from groundbreaking for a new factory to having the first vehicles rolling off the assembly line in just one year. Will VW or any other automaker be able to do that ? By 2026 how many more factories will Tesla have operational around the world ? 3 or 4 I can imagine. And they will likely have several sub- $30k vehicles in their lineup.
Volkswagon is rightfully concerned about where the market will be in just a few years and is getting ready to make major commitments of resources to be a major player. I hope they succeed as competition is good for the consumer. Toyota may be in trouble, it doesn't look like their solid state batteries are going to be viable, at least not for many years and millions of dollars of development.
The big question is will the US automakers have the capitol to go whole hog like VW plans on doing ? Or by 2026 will they still be living in the 1980's and producing some mediocre EV's and hoping for brand loyalty and government (i.e taxpayer) bailouts to keep them in business ?