By Danilo Masoni, Thyagaraju Adinarayan
5 MIN READ
A deadline set by many countries to go carbon-free by 2050 has led to rising adoption of zero-emission vehicles and Tesla has been at the forefront of this transformation, selling long-range battery electric vehicles (BEVs).
Despite a recent pullback, its stock has soared 650% in the last year, helped also by a cult following for CEO Elon Musk.
But it is no longer the only electrification play in town.
Volkswagen, the German company competing with Toyota to be the world’s biggest vehicle seller by volume, laid out its ambitious plan to turn 70% of European sales at its core VW brand electric during its “power day” last Monday.
The plan, months in the making, has helped to fuel a Tesla-esque rally in the 83-year old company’s shares, with CEO Herbert Diess even taking to Twitter, Elon Musk-style to crow as the company’s market value crossed 100 billion euros ($119 billion) earlier this month.
Continue reading “Analysis: Electric shock – German auto stocks get a new lease of life”
