- Volkswagen AG VWAGY CEO Herbert Diess said Volkswagen can overtake Tesla, Inc. TSLA as the world’s largest seller of electric vehicles by 2025, CNBC reported.
- Stabilizing supply chain woes would help the German carmaker to increase production in the coming months, the CEO said.
- He expects some relief from the semiconductor supply market to occur in the middle of 2022.
- “Tesla currently is in the lead when it comes to EVs, probably also it is the most digital car company already and they have some advantages,” Diess said. "We are still aiming at keeping up and probably overtaking by 2025 when it comes to sales."
- He continued, “I think for Tesla, also, ramping up now will probably be a bit more challenging. They are opening up new plants and we are trying to keep up speed. We think in the second half of the year, we are going to create some momentum.”
- Price Action: VWAGY shares closed higher by 3.27% at $20.22 on Monday.
- Photo Via Wikimedia Commons
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.