Herbert Diess, the CEO of Volkswagen says that he is not scared of Apple.
Recently, Apple has been in the talks for an upcoming electric vehicle.
“The car industry is not a typical tech sector that you could take over at a single stroke,” Diess said in an interview with German newspaper Frankfurter Allgemeine Zeitung. “Apple will not manage that overnight.”
“There’s just so much going on in [electric and autonomous vehicles] and connected tech,” Morgan Stanley analysts wrote in a note to investors in December 2020. “It is perhaps a fitting time of the world’s most valuable company to play its hand in the $10 trillion global mobility market.”
Although that’s less than half the number of sales Tesla made last year, it represents an increase of 214% on the previous year and shows Germany’s huge auto industry is beginning to mount a challenge to the leader in electric cars.