Volkswagen falls further behind Tesla in the race to electric

Europe’s largest automaker said on Wednesday it had delivered 452,900 battery electric vehicles to customers in 2021, nearly double its total from the previous year. But that wasn’t enough to keep up with Tesla, which delivered more than 936,000 cars in 2021.
In total , Tesla (TSLA) Last year deliveries boosted by 436,600 compared to an increase of 220,900 in Volkswagen Group (VLKAF), which owns brands such as Audi, Porsche and Skoda.
The German company has committed to spending more than $100 billion over the next five years to electrify its fleet and pose a challenge to Tesla. Volkswagen is already the best-selling electric vehicle in Europe, and expects 25% of the cars it sells globally to be electric by 2026.

Volkswagen Group said it had begun rolling out a series of new models, including the ID.4 electric SUV, but progress last year was hampered by supply chain issues.

“The year 2021 has been challenging due to the global shortage of semiconductors, but we have nonetheless consistently applied our clear future path,” Christian Dahlheim, Head of Sales, said in a statement. “The doubling in the sizes of our electric batteries and the increasing demand for all of our cars clearly show that we are on the right track.”

Tesla had its own chip shortage issues during the year but was able to manage it. Elon Musk Company It posted record deliveries in the last three months of 2021 of 308,600 vehicles, easily topping Wall Street estimates.

“Taking a step back, with chip shortages taking a huge toll on vehicle space and logistical issues globally [Tesla] Dan Ives, an analyst at Wedbush Securities, said earlier this month that delivery numbers were dropping.

Tesla has predicted that with new plants near Austin, Texas and Berlin beginning large-scale production in 2022, it should achieve annual global sales growth of 50% or better for at least the next few years.

“While there are many competitors in the electric vehicle space, Tesla continues to dominate market share as evidenced again this quarter as it struggled with chip shortages,” Ives said.

Chris Isidore contributed to the report.


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