Herbert Diess, the chief executive officer of German based car manufacturer Volkswagen Group AG (ETR: VOW3) has declared a very tight race between the company and U.S based electric vehicle manufacturer Tesla Inc. (TSLA).
According to Diess, Tesla works at twice the EV industry pace in many processes but it still ness to increase highly complex factories and find qualified workers to win the electric vehicle race. The CEO acknowledges that Tesla poses a challenge to German electric vehicle production with its new plant near Berlin.
Diess further adds that Tesla has been enjoying the advantage of a blank slate start and a small number of models, however Volkswagen is speeding up its production of electric cars to catch up with Tesla. The CEO was making the sentiments during a car industry conference held in Berlin.
“There’s a lot coming from our side too a lot of momentum. It will certainly be tight in coming years,” added the CEO.