Volkswagen CEO is confident his company will one day overtake Tesla in the EV race

VW CEO Herbert Diess

Despite being overtaken this week as the second largest automaker in the world by Tesla, which sells only 3 cars currently (but that could change next week), Volkswagen CEO Herbert Diess is optimistic his company will one day overtake Tesla in the electric vehicle (EV) market.

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Deiss’ comments at the World Economic Forum in Davos paint a rosy picture for automakers trying to enter the EV race against Tesla, saying he thinks it’s an open race for the car of the future (via Bloomberg). This is despite nearly a decade of the next ‘Tesla killer’ just around the corner, but once released, fails to make even a small dent in Tesla’s market share.

He also thinks that VW is at the same level with Tesla when it comes to EV’s, saying that he believes VW “can keep the pace with Tesla and also at some stage probably overtake” the California-based automaker.

It wasn’t a good week for VW as on the same day Tesla overtook them in market capitalization, they were slapped with the largest fine in Canadian history, $196.5 million due to cheating emissions tests and knowingly importing those cars into Canada.

You can see his full interview below.

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