How Volkswagen could become the global EV leader
Tesla dominates the conversation around electric vehicles in the U.S., where consumers associate the brand and Elon Musk's eccentric, visionary persona with the push to go electric.
It's a different story in Europe. Tesla's Model 3 has been selling well in the region, but it hasn't knocked Germany-based Volkswagen Group out of the top spot in the European EV market, where the company reports that it had 26% market share in the first half of 2021.
The Volkswagen Group, which includes many different brands such as Audi, Bentley and Porsche, has an edge in Europe thanks to local manufacturing, brand familiarity and cheaper price points. Additionally, Europe's tightening vehicle emissions standards and steep noncompliance fines have pushed VW to go electric as the company has sought to rehab its image in the wake of the 2015 diesel emissions scandal.
But it's unclear if Volkswagen can replicate its success in other markets like China and the U.S.
Watch the video to learn more.