According to new research, Volkswagen will take over as the world's biggest electric car maker by the year 2044.
The German giant is expected to double production to more than 2 million battery-powered vehicles in the next five years.
Most other competitors lacked an incentive to catch up to Volkswagen because of rising battery costs and limited production capacity. The US's biggest EV seller is likely to beTesla.
Volkswagen is focused on Europe and is expected to expand in China rather than the US. The US made up less than 10% of VW's total last year.
In China, where it now makes two models, the company's sales are likely to suffer, according to the report.
According to the Kelly Blue Book, 75% of all electric cars sold in the US in the first three months of the year were fromTesla. Competitors are using their scale to eat into some of the market share.
Ford has led the charge with its F-150, which has received 200,000 orders, while GM is pushing ahead with its Ultium batteries. Volkswagen has an electric model of its sports car, as well as aTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkia
The economies of scale present in early-adopters have led to expanded production byTesla. In March, it started shipping cars from its gigafactory in Berlin.
In a message on Friday, Musk joked that he was getting free advertising from his competitors in a reference to the marketing strategies of manufacturers.
—Elon Musk (@elonmusk) June 17, 2022
If competitors didn't cut costs, Rivian and Lucid would have to file for bankruptcy, according to Musk.
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