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we will keep up with Tesla but not without cuts -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Herbert Diess, Chief Executive Officer of Volkswagen Group in Barcelona (Spain), September 23, 2020. REUTERS/Albert Gea

FRANKFURT, Reuters – Volkswagen (DE) Chief Executive Herbert Diess said Thursday that he is confident Europe’s biggest carmaker can keep up with Tesla (NASDAQ.). However, he added that this will require additional cost reductions and headcount reductions at the Wolfsburg plant.

Tesla intends to open Gruenheide in Berlin this year, which will be its first gigafactory outside of Europe. However, authorities have yet not given final approval.

Diess claimed that the site set new standards in terms productivity, speed, management and lean.

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