Volkswagen Chief Executive, Herbert Diess, at a meeting on Thursday anticipated that significant changes to the carmaker are needed to avoid losing ground in the electric vehicle market.
The company wants to double its market value, which currently stands at 91 billion euros, transforming its vehicle portfolio and investing in new technologies. Research and technological development must be accelerated to keep up with competing start-ups.
Herbert Diess said that “The big questions are: Are we fast enough? If we continue at our current speed, it is going to be very tough” to keep on track.