VW's engineer says consolidation in auto sector neccessary

Wednesday, 02. December 2020 12:45

Alexander Hitzinger, head of Volkswagen’s "Project Artemis", a project focused on electric and autonomous vehicle production, said on Wednesday that there has to be a consolidation in the auto sector.

"Not everybody will be able to afford these complex platforms. We will see emerging a smaller number of very large players who will drive this transformation," Hitzinger stated, adding that because of the complexity of nowadays cars, traditional manufacturing "does not work anymore."

Earlier this week it was revealed that Hitzinger, transferred from Porsche back to Volkswagen Group in order to build an electric car to tackle Tesla.

Related Links: Volkswagen AG
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Breaking the News / TF