VW CEO says his company can challenge Tesla’s Tesla Model 3

Volkswagen Group CEO Herbert Diess holds the new ‘I.D.’ electric car during a preview of Volkswagen’s I.D. car line to reporters and editors in Riga, Latvia, Wednesday, Oct. 4, 2017. (Reuters/Ints Kalnins)

The world’s largest automaker is aiming to beat Tesla Inc. at its own game.

At an event for reporters and editors in Riga, Latvia, VW Chief Executive Herbert Diess and Chief Operating Officer Herbert Diess spoke about the German automaker’s future plans. In a nutshell, VW’s future hinges on a push into electric vehicles and ride-sharing.

“I have no doubt,” the CEO said. “If you compare Tesla to anything else you will find that they do the wrong things to reach that scale and I know we can do the right things for the right reason.”

Get ready for the Mercedes EQ, the second model to the EQ lineup. The Tesla Model 3 is similar to this generation. Check the Tesla website for pricing and updates and pricing information for the EQ crossover.

The company doesn’t have any specific plans yet, but it has the money and plans to be a driver of the transformation, the CEO said. The executives also acknowledge that it’s possible that Tesla might someday pull into VW’s fold, but it’s not likely.

Tesla’s next Model 3 update is due in January. It’s still under development but is expected to be priced lower than the current version.

Most large car makers have already announced plans to battle it out in the automotive space with more affordable electric vehicles and electric vehicles. Others will probably have to follow, says the head of Tesla’s own electric car program.

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