Volkswagen CEO Herbert Diess on the race to electric, the chip shortage and Elon Musk

Diess spoke to CNN Business from the International Motor Show in Munich, where Volkswagen (VLKAF) unveiled the ID. LIFE concept car, sketching out a vision for a fully electric small family car that will cost roughly €20,000 ($23,720).Diess spoke to CNN Business’ Anna Stewart on Monday:You want at least 50% of your car sales to be electric by 2030. Some of your competitors have more ambitious targets. Why are you a bit further back?Diess: In Europe we are already leading. Even in the US we have been in second place for the last months, and in China we are growing fast. We think we will become the market leader

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