Daniel DiManna
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Volkswagen CEO Discusses the Election’s Impact on EV Industry

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Will the EV industry benefit from a Biden presidency?
Photo: Volkswagen

To say that the 2020 presidential election has been an unusual and nail-biting event would be a massive understatement. After more than a bit of drama, the results are in: Joe Biden has won the race. And according to the Volkswagen CEO, it’s a result that could mean big things for the electric vehicle industry.

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Volkswagen CEO weighs in

On Thursday, Nov. 5, America was still watching with bated breath as election results trickled in. As this period of uncertainty continued, Volkswagen CEO Herbert Diess commented on the race during a Bloomberg webcast. His stance on the situation was made clear: a Biden win would bode well for VW’s ambitious plans for the production of mass-market EVs.

“A Democratic programme would be more aligned with our worldwide strategy to fight climate change to go electric,” commented Diess. “The United States, when it comes to market share, is the weakest region in the world.”

VW has made a huge push toward electric vehicles in recent years. Research and development into EV technology and the production and promotion of vehicles like the ID.3 and ID.4 have been expensive ventures for the automaker. If this push is to succeed, VW will need continued governmental support. Diess, it seems, does not feel that such support would’ve occurred under a continued Trump administration.

Throughout his campaign, President-elect Biden made it clear that environmental concerns would be a big focus of his presidency. Specifically, a restoration of the EV tax credit is supposedly on the docket. Taking this — and the current administration’s track record when it comes to environmental matters — into account, it’s easy to see why Diess favors a Biden presidency.

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With a little over two months until Biden takes up residency in the White House, it remains to be seen how this new administration will affect the EV industry.