Volkswagen CEO: I am not afraid of Apple

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“The car industry is not a typical tech sector that you can take over in one fell swoop,” said Diess in an interview with the German newspaper Frankfurter Allgemeine Zeitung. “Apple won’t be able to do that overnight.”

For years, industry observers have speculated that Apple AAPL releases its own electric self-driving car. That conversation was rekindled in December 2020, when Reuters, citing unnamed sources, reported that Apple planned to produce a passenger car by 2024.

In April 2017, Apple received a license from the California Department of Motor Vehicles to test self-driving vehicles there.

‘There is just so much going on in it [electric and autonomous vehicles] and connected technology, “Morgan Stanley analysts wrote in a note to investors in December 2020.” It may be an appropriate time for the world’s most valuable company to lend a hand in the $ 10 trillion global mobility market. “

Volkswagen also wants to become a dominant force in the field of electric cars. The car company sold 231,600 battery-powered electric vehicles in 2020, according to figures released by the company in January.

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

Therefore, when it comes to competition from Apple, “We are not afraid,” Diess told the German newspaper.

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

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

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