Volkswagen's race with Tesla will be tight, Diess says By Reuters

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Volkswagen's race with Tesla will be tight, Diess says

Published Jun 01, 2022 04:18AM ET

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Volkswagen's race with Tesla will be tight, Diess says

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BERLIN (Reuters) - Tesla (NASDAQ:TSLA) works at twice the industry pace in many processes but still needs to ramp up highly complex factories and find qualified workers to win the electric vehicle race, Volkswagen (ETR:VOWG_p)'s chief executive said on Wednesday.

The U.S. carmaker, posing a challenge to German electric vehicle production with its new plant near Berlin, had the advantage of a blank slate start and a small number of models, Diess said, making it easier to scale.

But his own company Volkswagen was also speeding up, Diess said.

"There's a lot coming from our side too... a lot of momentum. It will certainly be tight in coming years," Diess said, speaking at a car industry conference in Bochum, Germany.

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Comments (2)

Barak David Jun 01, 2022 6:08AM ET

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lol

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Fernando Saldanha Jun 01, 2022 5:34AM ET

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BYD will be the largest EV maker in a few years. VW is not a serious contender, with its market share in China going down.

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Volkswagen's race with Tesla will be tight, Diess says

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