Tesla shares are staging a comeback as investors expect the electric car maker to navigate the crippling semiconductor shortage better than rivals.
Browsing: Herbert Diess
Volkswagen of America’s purported name change to “Voltswagen” was an April Fool’s joke gone bad.
Volkswagen’s boss, Herbert Diess, is realistic about the threat posed by software-savvy and richly valued rivals such as Tesla, but he’s adamant that VW can prevail. On current form, he may be right.
Just like Samsung has an edge over Apple with its superior smartphone display, there is one area where VW may be ahead of Tesla: The German car maker has placed a big bet on next-generation lithium-ion batteries.
While Volkswagen is one of the largest car producers, it’s now pitted against companies that have routinely disrupted industries, casting former leaders aside in the process.
Volkswagen is not concerned by any Apple plans for a passenger vehicle that could include the iPhone maker’s battery technology, CEO Herbert Diess said.
Tesla’s market value soared past $540-billion this week — equivalent to 250 times its expected earnings this year — meaning it’s now the world’s 10th most valuable listed business.
Volkswagen’s new electric car panned by Germany’s leading test publication. Auto Motor und Sport said the ID.3 fell short of the car maker’s usual standards of fit and finish, and had a limited operating range,
Volkswagen will narrowly meet a deadline to start deliveries of its flagship ID.3 electric car, but early buyers will have to wait months for all the features to work.
Within minutes of the stock market’s open on Tuesday, shares of Tesla shot up 17%. Which feels extraordinary, except for the fact that they gained more the previous day.