It's been a sobering week for Herbert Diess' electric vehicle ambitions.
"The recent achievements of Tesla are sending a clear message," Diess told analysts during a call on third-quarter results on Thursday that ended up being mainly about Tesla.cranked up the pressure
And with Tesla worth almost eight times as much as VW while selling just 5% of the cars, and its Model 3 becoming the first-ever EV to lead monthly European sales, at this stage it's more about keeping up, not catching up. Diess, 63, who has steered the carmaker out of its Dieselgate emissions cheating scandal, said this will force local heavyweights to significantly raise their game to stop falling further behind.
Diess, who became Volkswagen's CEO in 2018, even invited Musk to speak to his managers this month, seen as a move to put pressure on senior leadership to move more quickly to catch up with the U.S. carmaker. It's also clear that this will mean fewer jobs, which carries the risk of lengthy and painful battles with labour representatives, who traditionally have wielded significant power at the world's second biggest carmaker.
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