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Investmentswe will keep up with Tesla but not without cuts By Reuters

we will keep up with Tesla but not without cuts By Reuters


© Reuters. FILE PHOTO: Volkswagen Group Chief Executive Officer Herbert Diess at a information briefing in Barcelona, Spain September 23, 2020. REUTERS/Albert Gea

FRANKFURT (Reuters) – Volkswagen (DE:) Chief Executive Herbert Diess on Thursday mentioned he was assured that Europe’s largest carmaker may keep up with Tesla (NASDAQ:), but added this could require additional price cuts, together with headcount reductions at its Wolfsburg website.

Tesla is planning to open its plant in Gruenheide close to Berlin, its first gigafactory in Europe, this 12 months though no last approval has been given by authorities.

Diess mentioned the positioning was setting a brand new benchmark by way of productiveness, pace and lean administration.

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