MSing
2022-04-25

$Tesla Motors(TSLA)$CEO Elon Musk on last Thursday praised $Volkswagen AG(VWAGY)$CEO Herbert Diess for his electrification push at the German auto giant.

The billionaire entrepreneur said the legacy automaker is “lucky to have” him and that he deserves a “lot of credit for moving VW rapidly towards electrification.”

Musk was replying to a post on $Twitter(TWTR)$, in which Diess is seen praising Musk and $Tesla Motors(TSLA)$in an interview with Lesley Stahl on CBS News.[Surprised] [Surprised] [Surprised] 

“Tesla is quite ahead currently, and they’re growing fast, I have to admit. He is taking more risks than we can,” Diess had said in the interview.

Volkswagen and other European automakers are under added pressure now that $Tesla(TSLA.US)$ has started commercial production at its Giga Berlin factory.

Volkswagen is spending $7.1 billion over the next five years on EV projects in North America. It aims to launch 25 new models in the region through 2030, with a target of 55% of U.S. vehicle sales to be fully electric.[Smart] [Smart] [Smart] 

Price Action: $VOLKSWAGEN A G(VWAGY.US)$ closed 0.8% higher at $23.5 a share on Last Thursday.

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Comments

  • AdrianTan
    2022-04-25
    AdrianTan
    It’s remarkable to see the world move towards electrification of cars and Elons vision from a decade ago becoming reality!
  • HilaryWilde
    2022-04-25
    HilaryWilde
    Electric car has become the development trend of automobile industry.
  • surfer guy
    2022-04-25
    surfer guy
    More EVs mean more potential Tesla sales smart for him
  • LouisLowell
    2022-04-25
    LouisLowell
    I can see that the management of VWAGY is working hard.
  • 叫我發先生
    2022-04-25
    叫我發先生
    Heng heng, pls give me a like
  • BurnellStella
    2022-04-25
    BurnellStella
    VWAGY is no match for Tesla in electric vehicles.
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