VW CEO Confident EVs Will More Than Double US Market Share By 2030

EVs from the VW, Audi, Porsche, Bentley, and Lamborghini brands will lead to 10% US market share for the VW Group by 2030, Diess says.

Volkswagen I.D. Buzz Concept at Pebble Beach

Dan Mihalascu

By: Dan Mihalascu

Jul 15, 2021 at 8:26am ET

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Volkswagen Group has been making bold claims regarding electric vehicles on a regular basis ever since first announcing its ID family of dedicated EVs.

Now with the ID.3, ID.4, and ID.6 on sale (the latter only in China), not to mention Audi’s e-trons, Q4 e-trons and e-tron GT, and Porsche’s Taycan, the company’s goals start to look more realistic. One of the latest claims comes from Volkswagen Group CEO Herbert Diess, who said earlier this week that the carmaker’s EV push could more than double its market share in the US to 10 percent.

According to Automotive News, the exec was talking about the group as a whole, including the VW, Porsche and Audi brands. Diess also said that VW believed EVs would reach parity with internal combustion engine-powered vehicles globally by 2030.

After presenting the “New Auto” 10-year strategy, the CEO told reporters and analysts the ID.4 was nearly sold out for this year in the US, and the upcoming ID.Buzz, expected to debut locally in 2023, would also prove popular with consumers.

Gallery: Volkswagen "New Auto"-Event (Juli 2021)

Volkswagen

When asked what other EVs the Volkswagen brand will offer in the US beyond the ID.4 and ID. Buzz, Diess said the carmaker is currently “reworking” those plans. He also mentioned that Audi, Porsche, Bentley and Lamborghini sales would lift the group’s US market share, hinting at the fact that all these brands will offer EVs stateside.

“We are very happy with the development in the U.S. We are of course suffering constraints with chip supply. But this is not where we want to stay. We are running over 20 percent [market share] in China and 20 percent in Europe, so this is our aspiration in the U.S., for a higher market share as well.”

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The long-term goal of reaching 20-percent market share in the US seems overly ambitious at the moment given Tesla’s dominance of the EV market, but Diess was adamant that VW’s global scale and its many different brands could make that possible.

"Scale wise, we should have advantages over Tesla for sure. This industry is also really consolidating toward very comparable solutions. The [electric motors] are becoming similar, the concepts are becoming similar. Now we are in second position, but now until 2025, we should have a good chance to overtake."