Volkswagen CEO says automaker will overtake Tesla in electric vehicle sales by 2025

CEO of Volkswagen believes that Europe’s largest car manufacturer can overcome Tesla become the world’s largest seller of electric vehicles by 2025.

Speaking to CNBC’s “Squawk Box Europe” at the World Economic Forum in Davos, Switzerland, on Tuesday, Herbert Diess said easing supply chain problems will likely help create some momentum. for the German auto giant in the coming months.

“The market is always looking to the future,” Diess said when asked why investors value Tesla so highly compared to other traditional automakers, such as Volkswagen.

“Tesla is currently leading the way when it comes to electric vehicles, it’s also probably the company that makes the most digital cars, and they have a number of advantages,” he continued. “We’re still aiming to keep up and possibly surpass it by 2025 when it comes to sales.”

Diess said Tesla was able to demonstrate good results and high profits with a reliable business model. However, he reaffirmed his belief that Volkswagen could soon close the gap in electric vehicle sales.

“I also think for Tesla, it’s probably going to be a little bit harder to go big right now. They’re opening new factories and we’re trying to keep up the pace. We think in the second half. year, we’re going to create some momentum,” said Diess.

Volkswagen’s Frankfurt-listed shares were trading about 0.9% lower on Tuesday morning, matching the loss in the auto sector on the pan-European Stoxx 600.

Supply chain crisis to ease

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