Volkswagen CEO: I’m not afraid of Apple

Volkswagen CEO: I’m not afraid of Apple

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“The automotive industry is not a typical technological sector that you can take over at once,” Diess said in an interview with the German newspaper Frankfurter Allgemeine Zeitung. “Apple will not be able to do that overnight.”

For years, industry observers have been speculating appeal (AAPL) will release its own electric, self-driving car. The conversation was rekindled in December 2020 when Reuters, citing unnamed sources, reported that Apple planned to manufacture a passenger vehicle by 2024.

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

‘There’s just so much going on [electric and autonomous vehicles] and related technology, “Morgan Stanley analysts wrote in a December 2020 note to investors. This may be an appropriate time for the world’s most valuable company to play its part in the $ 10 billion global mobility market. “

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

Although this is less than half the number of sales Tesla made last year, it is an increase of 214% compared to the previous year, and it shows that the large car industry in Germany is a challenge for the leader in electric cars offer.

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

Even with the increasing speculation, Apple was silent about its car ambitions, and the company still needed a partner for the iCar.

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

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