Volkswagen CEO Feels Apple Car Could Intensify Competition In EV space 

Apple's Project Titan is perhaps its worst kept secret. It has been in the works since 2014, with a vision to build a self-driving EV but apart from a bit of cloak and dagger and a report recently from Reuters that Apple's car is coming in 2024, there hasn't been much. But now Volkswagen's Group CEO Herbert Diess has indicated that Apple's entry into space will intensify competition. "We look forward to new competitors who will certainly accelerate the change in our industry and bring in new skills. The unbelievable valuation and the practically unlimited access to resources instill a lot of respect in us," he said in a LinkedIn post.

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Diess has credited Tesla and Elon Musk for pushing the industry towards electrification. He also noted that Tesla remains Volkswagen's biggest competitor, though that could change if Apple enters the space considering its prowess and resources.

He ended the blog post with an optimistic note stating that the world's most valuable company will again be an automotive giant.

Under Diess, Volkswagen is being revamped as an electric car maker

"I have said it before: the most valuable company in the world will again be a mobility company. It could be Tesla, Apple or Volkswagen," he said.

Diess took over the reins of the German giant in the wake of the diesel gate controversy. He pushed the electrification drive at the group and is responsible for projects like the Volkswagen ID.3 and ID.4 and also the Porsche Taycan which has been lauded as the most impressive electric car in recent times.