Volkswagen is one of the world’s largest automakers and one of the most ambitious in the electric vehicle (EV) market. The German giant reported strong revenue growth of 13% in the first quarter of 2021, driven by a robust recovery in Europe and North America amid the pandemic.
But the company is not resting on its laurels. It invests heavily in EVs, aiming to become the global leader in battery-powered cars by 2025. Volkswagen plans to launch more than 70 new EV models by then and expects to sell 26 million EVs in total.
Volkswagen’s CEO Herbert Diess said that the company is well prepared for the growing competition in the EV market, as rivals like Tesla, Ford, and GM are also ramping up their electrification efforts. He said that Volkswagen has a competitive edge in terms of technology, scale, and global presence.
One key advantage of Volkswagen is its modular platform for EVs, called MEB. This platform allows the company to produce different types of EVs with common components and architectures, saving costs and increasing efficiency. Volkswagen is also sharing its MEB platform with other automakers, such as Ford and China’s SAIC.
Another strength of Volkswagen is its diverse portfolio of brands, ranging from mass-market to luxury. The company owns 12 brands, including Audi, Porsche, Skoda, and Bentley. Each brand has its own identity and target market, but they can also benefit from the synergies and innovations within the group.