Tesla Inc. plans to expand its product portfolio in the next few years and cement its status as the world's leading electric vehicle maker, but Volkswagen Group has designs on Tesla's crown.
Volkswagen, under CEO Herbert Diess, wants to overtake Tesla to become the world's largest seller of EVs by 2025 — and analyst firm LMC Automotive says it's on track to do so.
It plans to launch about 70 battery-powered models globally by 2030 and has said it soon will reveal plans for a more aggressive U.S. strategy following the Biden administration's recent EV goals.