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Volkswagen CEO: I’m not afraid of Apple

“The car industry is not a typical tech sector that you could take over at a single stroke,” Diess mentioned in an interview with German newspaper Frankfurter Allgemeine Zeitung. “Apple will not manage that overnight.”

For years, business observers have speculated that Apple (AAPL) will launch its personal electrical, self-driving automobile. That dialog was reignited in December 2020, when Reuters, citing unnamed sources, reported that Apple deliberate to supply a passenger car by 2024.

In April 2017, Apple acquired a allow from the California Department of Motor Vehicles to check self-driving automobiles there.

“There’s just so much going on in [electric and autonomous vehicles] and connected tech,” Morgan Stanley analysts wrote in a be aware to buyers 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.”

Volkswagen can also be aiming to be a dominant power within the electrical automobile discipline. The automobile firm bought 231,600 battery electrical automobiles in 2020, in response to figures revealed by the corporate in January.

Although that is lower than half the variety of gross sales Tesla made final yr, it represents a rise of 214% on the earlier yr and reveals Germany’s big auto business is starting to mount a problem to the chief in electrical automobiles.

That’s why, in terms of competitors from Apple, “We are not afraid,” Diess informed the German newspaper.

Even with the rising hypothesis, Apple has been quiet about its automobile ambitions, and the corporate nonetheless wants a associate for the iCar.

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

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