VW CEO Herbert Diess on Electric Cars and Effects of Trade War

The transcript discusses the future of electric cars in Europe, focusing on Volkswagen's strategy to introduce a midsize compact electric car. It highlights the importance of charging infrastructure, with plans to expand fast charging networks across Europe and the US. The discussion also covers battery sourcing from various suppliers and the impact of trade wars on global car markets, particularly in China. Volkswagen's investment strategies in China, the US, and Latin America are outlined, along with the transition to electric cars in Germany, which includes reducing labor due to less labor-intensive electric car production.

What is the key feature of Volkswagen's new electric car that makes it appealing to a broad range of customers?

• Its fast charging capability

• Its low price

• Its compact size

• Its luxurious interior

What is one of the major challenges in the adoption of electric vehicles according to the transcript?

• Limited driving range

• High production costs

• Lack of customer interest

• Charging infrastructure

How does Volkswagen ensure the quality of batteries used in their electric cars?

• By using only Panasonic batteries

• By setting specific standards for suppliers

• By sourcing from a single supplier

• By manufacturing them in-house

What impact has the trade war had on the automotive market in China?

• Increased car sales

• Market recession

• Stable market conditions

• Higher import tariffs

What percentage of Volkswagen's products sold in China are locally produced?

• 50%

• 70%

• 100%

• 90%

What is Volkswagen's strategy for managing the transition to electric cars in Germany?

• Focusing on luxury cars

• Outsourcing production

• Reducing headcount

• Increasing workforce

What does the speaker hope to achieve with the help of Berlin regarding electric cars?

• Increased marketing efforts

• Lower production costs

• Better customer incentives

• Improved infrastructure and tax system