Volkswagen AG’s CEO Herbert Diess is one of the key reasons the automotive group has become Europe’s best-selling electric vehicle brand in 2022, but the frontman of the German automotive giant admits he was blindsided when Tesla’s speed and preparation were among the company’s biggest advantages.
“I have to say we didn’t expect our main U.S. competitor to be so fast and well-prepared,” Diess said earlier this week at the Financial Times Future of the Car 2022 Conference. “It will be a tight race, but we won’t give up on it.”
Diess and Tesla CEO Elon Musk have shared a friendly relationship with one another, even exchanging test drives in their respective company’s premiere electric vehicles. However, Diess and Musk still are ultimately competing for their automotive entities to be outdoing each other, especially as the EV sector continues to heat up in 2022.
Diess has been adamant that Volkswagen’s transition to EVs must be fast and efficient. Otherwise, the German automaker could fall behind. The CEO even admitted at one point that a lagging EV transition could cost the company some of its employee headcounts, a statement that was not well received by Volkswagen’s labor reps in Europe. Ultimately, Diess recognizes the dramatic shift in the automotive sector, realizing Tesla’s industry dominance may only be getting larger as other EV startups continue to struggle with financial woes and supply chain and production bottlenecks.
Volkswagen sold ~99k EVs out of 1.9M in Q1, seeks to gain 10% market share in North America by 2030
Tesla was Europe’s best-selling EV brand individually in 2021, narrowly outpacing Volkswagen’s ID.3 and ID.4. Globally, Tesla still holds a substantial lead, but Volkswagen is aiming to overtake Tesla by 2025. The German company believes it is possible with larger, more broad product offerings that cover luxury and premium sectors and mass-market models.
Diess believes Volkswagen can more than double its market share in the United States to 10 percent but acknowledged it would require an additional plant and local battery production.
Volkswagen recently announced a massive €10 billion investment for EV and battery manufacturing In Spain.
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Rivian and Amazon announce huge milestone with EDV
The companies announced today that they had officially launched the EDV in Canada for Amazon, as the first 50 units are out and about in Vancouver, and the company said it was “marking an exciting milestone in our five-year history of operations in Canada.”
 
														Rivian and Amazon have announced a huge milestone with their Electric Delivery Vehicle (EDV), the van that the two companies developed for the e-commerce giant to sustainably deliver packages to customers.
The EDV was first unveiled back in September 2019, when Amazon announced a massive investment in Rivian and placed an order for 100,000 electric vans, aiming to deploy them by 2030 as part of the company’s sustainability goals.
Production started in 2021 in Normal, Illinois, and entered Amazon’s fleet of active delivery vehicles over the Summer of 2022. Amazon kept the initial vehicles in major metropolitan areas and eventually started rolling them out to more delivery hubs across the United States.
In December 2024, the companies announced they had successfully deployed 20,000 EDVs across the U.S. In the first half of this year, 10,000 additional vans were delivered, and Amazon’s fleet had grown to 30,000 EDVs by mid-2025.
Amazon’s fleet of EDVs continues to grow rapidly and has expanded to over 100 cities in the United States. However, it has just reached a new milestone, and it has nothing to do with the size of its fleet.
The companies announced today that they had officially launched the EDV in Canada for Amazon, as the first 50 units are out and about in Vancouver, and the company said it was “marking an exciting milestone in our five-year history of operations in Canada.”
The first Rivian Electric Delivery Vans have arrived in Canada as @amazon announced that 50 vans are hitting the road to serve the Vancouver area – marking an exciting milestone in our five-year history of operations in Canada. 🍁 https://t.co/rc6GvSRX2v pic.twitter.com/0jAQ3ABkYt
— Rivian (@Rivian) October 30, 2025
The EDV is a model that is exclusive to Amazon, but Rivian sells the RCV, or Rivian Commercial Van, openly. It detailed some of the pricing and trim options back in January when it confirmed it had secured orders from various companies, including AT&T.
The RCV starts at $83,000, and is one of the few electric vans on the market that is suitable for package delivery in a commercial setting because of its build and interior features.
Rivian prepares to launch the EDV outside of Amazon as the RCV – Here’s when
However, it also seems to be a great option as a service vehicle for companies, which is likely why AT&T is going to utilize it.
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Tesla’s biggest rival in China reported a big profit decline once again
 
														Tesla’s biggest rival in China reported a big decline in its profitability for the second straight quarter, and a loss of one-third compared to the same quarter last year.
BYD overtook Tesla as the best-selling EV maker in China in the fourth quarter of 2023, finally surpassing the company in terms of sales in the region.
Is Tesla really losing to BYD, or just playing a different game?
The Chinese market is one of the most competitive in the world, especially for EVs, as the industry is healthy with young and scrappy companies looking to sell the best possible tech in their vehicles.
BYD reported its earnings on Thursday and said that its profit had slumped by 33 percent compared to the same quarter last year. For this year’s third quarter, BYD reported a net profit of 7.8 billion yuan ($1.1 billion), a 32.6 percent decrease compared to the same period in 2024.
Its revenue was 195 billion yuan ($27.4 billion), which was only a 3 percent decrease compared to Q3 2024.
The drop in profits and revenue can mostly be attributed to the ongoing growth of competition in the Chinese market. The increased competition in China has pushed companies to turn to overseas markets in response, according to CnEVPost.
BYD is one of those companies, and it is attempting to push sales upward by entering new markets, especially in Europe, where the company sold more than 13,000 units in EU countries in September alone.
This was a 272 percent increase year over year, a major piece of evidence that it has a lot of potential in foreign markets.
The drop in financial figures is likely a short-term issue for BYD, as it has already established itself as a formidable competitor to many companies in many markets. In Q1, it reported an increase in profit by 100 percent compared to the same time span the year prior.
As it works to expand to even more markets in the world, it will continue to build upon its already-solid reputation.
News
GM takes latest step to avoid disaster as EV efforts get derailed
There was an even larger step taken this morning, as the Detroit Free Press reported that GM was idling its Factory Zero plant in Michigan until late November, placing about 1,200 workers on indefinite layoff status.
 
														General Motors has taken its latest step to avoid financial disaster as its electric vehicle efforts have been widely derailed.
GM’s electric vehicle manufacturing efforts started off hot, and CEO Mary Barra seemed to have a real hold on how the industry and consumers were starting to evolve toward sustainable powertrains. Even former President Joe Biden commended her as being a major force in the global transition to EVs.
However, the company’s plans have not gone as they’ve drawn them up. GM has reported some underwhelming delivery figures in recent quarters, and with the loss of the $7,500 tax credit, the company is planning for what is likely a substantial setback in its entire EV division.
Earlier this month, the company reported it would include a $1.6 billion charge in its quarterly earnings results from EV investments. It was the first true sign that things with GM’s EV projects were going to slow down.
There was an even larger step taken this morning, as the Detroit Free Press reported that GM was idling its Factory Zero plant in Michigan until late November, placing about 1,200 workers on indefinite layoff status.
This is in addition to the 280 employees it has already laid off after production cuts that happened earlier this year at the Detroit-Hamtramck plant.
After November 24, GM will bring back 3,200 people to work until January 5 to operate both shifts. On January 5, GM is expected to keep 1,200 workers on indefinite layoff.
GM is not the only legacy automaker to make a move like this, as Ford has also started to make a move that reflects a cautious tone regarding how far and how committed it can be to its EV efforts.
After the tax credit was lost, it seemed to be a game of who would be able to float their efforts longest without the government’s help. Tesla CEO Elon Musk long said that the loss of these subsidies would help the company and hurt its competitors, and so far, that is what we are seeing.
Elon Musk was right all along about Tesla’s rivals and EV subsidies
However, Tesla still has some things to figure out, including how its delivery numbers will be without the tax credit. Its best quarter came in Q3 as the credit was expiring, but Tesla did roll out some more affordable models after the turn of the quarter.
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