The chief government of Volkswagen believes Europe’s largest carmaker can overtake Tesla to turn out to be the world’s largest vendor of electrical autos by 2025.

Chatting with CNBC’s “Squawk Field Europe” on the World Financial Discussion board in Davos, Switzerland, on Tuesday, Herbert Diess stated assuaging provide chain points would doubtless assist create some momentum for the German auto big over the approaching months.

“Markets are all the time concerning the future,” Diess stated when requested why traders valued Tesla at such a premium to different conventional carmakers, reminiscent of Volkswagen.

“Tesla presently is within the lead in terms of EVs, in all probability additionally it’s the most digital automobile firm already they usually have some benefits,” he continued. “We’re nonetheless aiming at maintaining and doubtless overtaking by 2025 in terms of gross sales.”

Diess stated Tesla has been in a position to reveal good outcomes and excessive returns with a reputable enterprise mannequin. Nevertheless, he reaffirmed his perception that Volkswagen may quickly shut the hole in terms of EV gross sales.

“I feel for Tesla, additionally, ramping up now will in all probability be a bit tougher. They’re opening up new vegetation and we are attempting to maintain up velocity. We expect within the second half of the 12 months, we’re going to create some momentum,” Diess stated.

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