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erienewsnow.com 13 Jan, 2022 15:45 am

Volkswagen falls further behind Tesla in the race to electric - Erie News Now

Volkswagen falls further behind Tesla in the race to electric - Erie News Now
By Charles Riley, CNN Business

By Charles Riley, CNN Business Volkswagen is falling further behind Tesla in the race to dominate the market for electric cars.Europe's largest carmaker said Wednesday that it delivered 452,900 battery electric cars to customers in 2021, nearly double its total from the previous year.Volkswagen is already the top seller of electric cars in Europe, and it expects 25% of the vehicles it sells globally to be electric by 2026." Tesla had its own chip shortage issues during the year but was able to manage them.

"Taking a step back, with the chip shortage a major overhang on the auto space and logistical issues globally these [Tesla] delivery numbers were jaw dropping," Dan Ives, an analyst for Wedbush Securities, said earlier this month."While there are many competitors in the EV space, Tesla continues to dominate market share as evidenced again this quarter while battling through the chip shortage," Ives said.

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