VOW - WEEK CHARTVOW - Volkswagen AG
Hi, today we are going to talk about Volkswagen AG and its current landscape.
Volkswagen AG it's poised to gain traction on the market since Tesla today has shaken the European auto markets by announcing that it has chosen the region of Berlin in Germany over the U.K to be the new engineering and design center site. A big step for the company that until now had to rely on a single plant in Fremont, California, to sustain the whole Tesla produce chain. The new Tesla factory should become fully operational only in 2021, according to Musk estimates.
The establishing of Elon Musk company on European soil sets a significant threat to the European automakers, which can be seen in a type of allegory represented by the Golden Steering Wheel award that Musk received in Germany yesterday. The prize was due the Model 3 been elected the midsize car of the year, beating the BMW and Audi models. We must remember that several countries on the European Union like Norway, Germany, France, U.K, Scotland, Netherlands and Ireland, have been making efforts to drastically reduce its using of fossil fuels cars, as an effort to diminish pollution. With the expansion of Tesla manufacturing network, with possibilities of more accessible prices, Tesla that it's already ahead on the electric car race will have the upper hand on the sector, and it might weaken its European competitors.
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