Volkswagen needs to make urgent changes to become more of a tech company as the industry enters the digital era, CEO Herbert Diess said Thursday, warning that the German car giant had just "one shot" at staying in the game. "Volkswagen's future lies in becoming a digital technology company," Diess said. He singled out US tech firm and electric car pioneer Tesla as an example of the kind of fierce and unorthodox competition the company was up against. "We have exactly one shot at securing our future. ALL-ELECTRICThe 12-brand VW group, which includes Porsche, Seat, Skoda and Audi, has set itself the goal of selling 32 million electric and hybrid vehicles by 2029.

Source: Daily Nation January 17, 2020 14:48 UTC