Volkswagen is a large conglomerate, they own both "economy" brands like VW itself (which is already simplified since the VW brand also sells low-end luxury cars like the Phaeton) but also premium brands like Porsche (well actually they don't own them, it's complicated), Bugatti, Bentley and Lamborghini. If they leverage their technology platform correctly they could outcompete Tesla in many areas, though it remains to be seen if they are actually able to.