Volkswagen CEO: I’m not afraid of Apple

“The car industry is not a normal technical business that you could take over at one stroke,” Diess said in an interview with Frankfurter German newspaper Allgemeine Zeitung. night. “

For years, industry watchers have profited by that Apple (AAPL) it emits its own, self-driving electric car. That conversation was re-regulated in December 2020, when Reuters, citing anonymous sources, reported that Apple planned to produce a passenger vehicle by 2024.

In April 2017, Apple received permission from the California Department of Motor Vehicles to test self-driving vehicles there.

“There’s so much going on [electric and autonomous vehicles] and connected tech, “Morgan Stanley analysts wrote in a note to investors in December 2020.” It may be a fitting time for the world’s most valuable company to play its hand in the $ 10 trillion global moving market. “

Volkswagen also aims to be a leading force in the field of electric cars. The car company sold 231,600 battery-powered electric vehicles in 2020, according to figures released by the company in January.

While that’s less than half the number of sales made by Tesla last year, it represents a 214% increase on the previous year and shows that Germany’s big car industry is starting to challenge to the director in electric cars.

That’s why, when it comes to competition from Apple, “We’re not scared,” Diess told the German newspaper.

Even with the growing profitability, Apple has been silent about its car intentions, and the company still needs a partner for the iCar.

– CNN Business’ Clare Duffy and Charles Riley contributed to this report.