Dr. Herbert Diess, Chairman of the Board of Directors of the Volkswagen Group, will speak at the SXSW 2022 on March 12, 2022 at the Thompson Hotel in Austin, Texas. (RogerKisby / Getty Images for Volkswagen of America)
Volkswagen Group CEO Herbert Diess is not dissatisfied with Elon Musk’s Tesla building a factory just 200 kilometers (124 miles) from its home in Germany.
What happened
Mask-led Tesla is ahead of Volkswagen, growing faster and taking more risks than German legacy car maker Dís. Said Interview with Lesley Stahl on CBS News.
“Tesla is now quite advanced and growing rapidly. I have to admit. He is taking more risks than we can. He is currently building a factory in Berlin. It’s 200 kilometers away from the factory, “Dies said in an interview.
“And I think it’s very healthy for us to have new competitors.”
Important reason
Musk opened the first Giga Factory plant in Europe last month, eight months behind a licensing issue with a local government.
Volkswagen has a large manufacturing facility in Wolfsburg and is also the headquarters.
Tesla’s ability to build cars locally in Germany will help it significantly increase its market share.
By Rachit Vats
© 2022 Epoch Times. The Epoch Times does not provide investment advice. all rights reserved.
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