Herbert Diess, CEO of VW, the world's second-largest automaker, announced on March 15 his ambitious plans to dominate the electric vehicle (EV) market by 2025, surpassing Tesla. VW's commitment is serious, according to analysts, and covers the entire EV ecosystem, from the development of a standard platform to underpin the production of dozens of EV models to the installation of six gigafactories to manufacture batteries for these vehicles by 2030, as well as the deployment of tens of thousands of fast-charging points for EVs in Europe, the US, and China. Will VW be able to fulfill its plans to displace Tesla? Analysts believe so, although that does not mean that Elon Musk's iconic company will lose its leadership. Tesla, with its technological innovations and seductive brand power, can aspire to be the Apple of EVs, with VW taking on a role similar to that of Samsung in the world of electronic gadgets, experts say.

GS projects that 40 million EVs will be sold in 2035, accounting for 35% of vehicle sales. (see attached table)

Faster adoption of electric vehicles in Europe and the US