\r\n\r\n\n \n\n\n\n \n The size of the text\n \n \n \n \n\n \n \n \n \n \n \n \n \n \n \n \n\n \n \n Charging point on a Volkswagen electric om tomobile.\n \n \n \n \n Lisa Johansson-Kopitz \/ Bloomberg\n \n \n \n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Volkswagen\n \n Wants to be a leader in electric vehicles around the world. Playing Tesla with Pepsi is not that satisfying \n \n Coca Cola.\n \n The German automaker had arranged an update of EV ambitions in the last few days at an investors \u2019event and shareholder meeting. \n \n Volkswagen\n \n (Ticker: VOW.G rum y) has always had big EV goals, but the company is doubling down on the future of all-electric personal transport. \n \n In particular, the company announced plans to build six giga factories by 2030. Has become an industry jargon for a gigafactory battery plant, thank you \n \n Tesla\n \n (TSLA). The Giga Factory is what Tesla calls the huge Nevada battery facility it built with it \n \n Panasonic\n \n (6752. Japan). Volkswagen's battery plants should have the capacity to produce 240 gigawatt-hours of batteries per year. Gigabytes is short for a billion, but what investors need to know is that that level of production capacity can power, approximately, about four to five million EVs annually. Battery plants are becoming the new engine plants of the automotive industry. \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Newsletter sign up Review and preview Every evening we publish the day's result-oriented market news and give the possibility of what matters tomorrow. \n\n\n \n \n \n \n Volkswagen, of course, will continue to buy batteries for the existing industry, and the company also has a large investment in this. \n \n QuantumScape \n \n (QS). Quantum is solid-state, lithium anode batteries that promise lower cost, better safety, longer range and faster charge time than today's lithium-ion EV battery technology. In that regard, VWA delivered about 11 million vehicles in 2019, a year before the epidemic hit industry sales. In 2020, Volkswagen sold about 230,000 all-electric vehicles and more than 400,000 electrified vehicles, including hybrid and plug-in hybrid options. Tesla sold about 500,000 EVs in 2020. Wall Street projects Tesla will deliver about 840,000 EVs in 2021. Volkswagen aims to sell 1 million electrified vehicles this year. Volkswagen also doubled its target for European EV sales by 2030. The German automaker wants 70% of European sales to be electrified vehicles, double the previous target of 35%. "In 2030, we forecast 50% [battery-electric vehicle] Share in our global delivery, \u201dCEO Herbert Diaz said Tuesday in a conversation with shareholders. "In Europe we expect about 60 percent." It\u2019s all very ambitious. Reducing costs will help the company get there. Volkswagen also believes it will reduce battery costs by about 50% between now and 2030, but the full level of cost was not disclosed. Batteries are a big part of the overall cost of an EV, so a reduction of 0% to make a sticker cost equal to that of a gasoline powered car would last a long time. More competition is not a death knell for Tesla. It is, presumably, a fatal event for a car running on gasoline. "VW Power Day confirms that EVs are about to become standard," Byrd analyst Ben Chloe wrote in a research report on Monday. Black covers Taxila, not Volkswagen, and sees the VW event as a signal that EV entry into the auto market as a whole will go faster than investors currently expect. He expects Tesla, however, to remain at the forefront. Kalo rates Tesla stock bay and has a target price of 6,736 for its shares. Wadebush analyst Dan Ives covers Tesla, not even WWW. It rates Tesla's shareholding. Ives' price target, however, is more than 50,950 per share of clones. Ives is asked by its customers whether the recent sell-off of Tesla stock is due to new competition. Shares of Tesla are down 21% from their January highs. The answer is an emphatic number. Evis writes, \u201cE.V. The party has begun. Interest rates have declined in the EV sector, which has a high growth rate, but it is not concerned. \u201cThis 2. The transformation is starting now because the industry is like a \u0aa4\u0a95 5 trillion market opportunity in the next decade. That\u2019s a huge number, but can be achieved, given the global auto sales are easily tr 2 trillion dollars every year. That\u2019s enough space for many winners and losers: both VW and Tesla can succeed. Write al route to email@example.com\n\n\n \n .