The VW Group($VOW3), with more than 650,000 employees and 10 different brands, is a giant of the global automotive industry. Last year, the company delivered nearly 9 million cars — just under 10 times as many as electric car leader Tesla($TSLA) delivered.
But when it comes to all-electric cars, Tesla is still ahead.
On the one hand, it’s easy to argue that Tesla is way ahead, having delivered more than twice as many all-electric cars as VW Group in 2021.
On the other hand, one could argue that VW Group’s 453,000 deliveries in 2021 are close to Tesla’s 500,000 deliveries in 2020, suggesting that the German giant is only 12-15 months behind Tesla’s pace, despite starting later.