Tesla had to raise a lot of money from investors to keep the business afloat. In 2017 alone, they had to raise a debt of $2bn to keep their cash reserves alive

Tesla had to raise a lot of money from investors to keep the business afloat. In 2017 alone, they had to raise a debt of $2bn to keep their cash reserves alive so that they could continue investing on their products. Volkswagen, on the other hand, had a revenue of $230bn in 2017 alone. It doesn't seem to me that money is a problem for the already established car manufacturers. And looking at Tesla's finances, starting an electric car business wouldn't make much of a dent on Volkswagen's finances. So yes, Tesla is proof that there is some relutance in moving to a fully electric business in the car industry.