Volkswagen’s race with Tesla will be tight, Diess says By Reuters

BERLIN (Reuters) – Tesla (NASDAQ:) works at twice the industry pace in many processes but still needs to ramp up highly complex factories and find qualified workers to win the electric vehicle race, Volkswagen (ETR:)’s chief executive said on Wednesday.

The U.S. carmaker, posing a challenge to German electric vehicle production with its new plant near Berlin, had the advantage of a blank slate start and a small number of models, Diess said, making it easier to scale.

But his own company Volkswagen was also speeding up, Diess said.

“There’s a lot coming from our side too… a lot of momentum. It will certainly be tight in coming years,” Diess said, speaking at a car industry conference in Bochum, Germany.