- Volkswagen AG (OTC:VWAGY) chief saw Tesla, Inc (NASDAQ:TSLA) needs to ramp up highly complex factories and acquire qualified workers to win the electric vehicle race despite its twice the industry pace in multiple processes, Reuters reports.
- Tesla, which posed a challenge to German EV production with its new plant near Berlin, was privileged by a blank slate to start and a small number of models, Volkswagen CEO Herbert Diess said at Germany's car industry conference.
- However, Volkswagen also sped up, Diess said.
- Diess also acknowledged that more momentum is coming at Volkswagen, which will undoubtedly be tight in the coming years.
- Diess disclosed that he saw Volkswagen beating Tesla in EV sales by 2025, alleviating supply chain issues.
- Price Action: TSLA shares traded lower by 0.69% at $753 in the premarket on the last check Wednesday.
