Lucid Motors and Volkswagen Auto Group CEOs Peter Rawlinson and Herbert Diess recently expressed their support towards Tesla and Elon Musk. The two automotive executives took particular note of Tesla’s growing lead in the electric car segment.
“There’s a recognition that Tesla is in a preeminent position in terms of EV technology,” Lucid Motors CEO Peter Rawlinson said at the BloombergNEF Summit. Rawlinson stated that Tesla’s lead in the EV sector is actually growing since the company continues to improve its already industry-leading products.
“They’re even further ahead than has been reported, and I think the gap is widening, not closing,” Rawlinson added.
This is a change in tune from Rawlinson as he was not always a firm supporter of Tesla, especially after he left the company. Before joining Lucid Motors, Rawlinson served as one of the chief engineers of Tesla’s flagship sedan, the Model S. In 2018, he spoke about Tesla’s lack of “truly luxury” features, arguing that the electric vehicles are “premium and high-tech, but not luxury.”
Tesla holds a considerable lead in the electric vehicle market, especially in terms of range and performance. This particular combination has eluded traditional carmakers who are dipping their feet into EVs so far. The Porsche Taycan Turbo, for example, knocks it out of the park with its classic sports car performance. But when it comes to range, the vehicle earned a paltry rating of 201 miles from the EPA.
Indeed, Tesla’s lead in electric vehicles is something that’s becoming undeniable. It’s not only the Lucid Motors CEO that seems to be open enough to admit this, either.
Volkswagen AG CEO Herbert Diess has been vocal of his support of both Tesla and Musk in the past. After Musk announced his company’s plan to create a production plant in Germany while receiving an award for the Model 3, Diess was supportive of Musk. “I know all of this competition here in Germany, this award, it’s a great achievement,” Diess stated.
When Tesla’s value eclipsed Volkswagen’s by nearly $50 billion, Diess was nothing but supportive. Diess stated that he believes cars will eventually surpass the cell phone as “the most important mobile device” and Tesla’s technology is a key contributor to that idea. “If we see that, then we also understand why Tesla is so valuable from the view of analysts,” the VW CEO said.
Tesla stock has skyrocketed over the past three months. The price per stock at the closing bell on February 4 was $887.06, a new all-time-high for the company. Tesla’s technology has been a key to the company’s success, and based on Rawlinson and Diess recent statements, it appears that other automakers are starting to recognize the hard work Tesla has dedicated in the development of its core technologies.