Volkswagen Chief Sees EV War Intensifying With Tesla

Volkswagen AG VWAGY chief saw Tesla, Inc 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.

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