Tesla Is No Niche Automaker Anymore, Volkswagen’s CEO Says

Read the full article on: Bloomberg.com

There appears to be a budding bromance between the CEOs of Volkswagen AG, the world’s largest automaker, and Tesla Inc., the electric-car company suddenly back on the ascent.

At an event where VW was presenting the new Golf hatchback late Thursday, Chief Executive Officer Herbert Diess quibbled with reporters who suggested Tesla is in trouble because it’s too small.

“Tesla is not niche,” Diess said in Wolfsburg, Germany, where VW is based. “The Model 3 is a large-series model and they are one of the biggest manufacturers of electric-car batteries.”

“We have a lot of respect for Tesla,” Diess continued. “It’s a competitor we take very seriously.”

Read the full article on: Bloomberg.com


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