Currently reading: Volkswagen boss rules out investment in Tesla
Herbert Diess says he admires Elon Musk's EV start-up, but says 'all they are doing, we can do'
Rachel Burgess
News
2 mins read
10 September 2019

Volkswagen Group boss Herbert Diess has said he would not consider buying a stake in Tesla.

Recent reports suggested that VW was eyeing an investment in the groundbreaking but controversial American EV firm.

Speaking at the Frankfurt motor show, where the firm launched the ID 3 electric hatch, Diess said: “No, I wouldn’t consider a stake in Tesla. I really admire what it has done, which is also helpful for us because it is really pushing us [in electrification]. The cars are nice and I like to drive them.

“It’s a brave move to come into automotive because it means such high investment.”

Frankfurt motor show 2019: live news and updates

He added: “I wouldn’t buy a stake because I think all they are doing, we can do.”

Diess said that he believed VW will utlimate have an edge over Tesla: “In the long run, I think we might have a bit of an advantage because of scale. On the hardware side, there is probably not so big a difference because they are are also have a dedicated electric platform and they’re quite big already for an EV manufacturer.

“But when it comes to the next big thing, which is software, Tesla is strong in software – but software really is a volume game. If you do software, you have to use ten million devices, not one million.”

When asked if Diess would consider buying Tesla if it became bankrupt, he commented: “I don’t believe that [bankruptcy will happen]. I like Elon quite a lot and I wish him all the best. Tesla is close now to profitability. Probably the biggest challenge is the stretch in category class because the investment is so big.”

Read more

The wolf of Wolfsburg: Autocar meets Herbert Diess

Frankfurt motor show 2019: live news and updates

Volkswagen ID 3 electric hatch launched at Frankfurt show

Advertisement
Advertisement

Find an Autocar review

Read our review

Car review

Could this electric-powered family hatch be the car to take the EV into the mainstream?

Join the debate

Comments
13
Add a comment…
fadyady 11 September 2019

Hands off!

Oi, Volkswagen, keep your dirty mitts off Tesla.
Make your own electric cars. If they are half as good as Tesla, many will buy.
blablawriting 11 September 2019

Tesla is rising stars

Tesla has a really good car, I love them personally. Second I love your blog and we are also writing such amazing essays and blog post. We have a blog on it and you can see it here: 

https://blablawriting.com/

xxxx 11 September 2019

Admission

Good to see people are finally realizing just how far ahead Tesla are. When existing German companies say "I think all they are doing, we can do..." 'eventually' is an admission that Tesla are actually pretty good, something some people just can't admit.

Just look at the Taycan, brand new it statistics still don't stack up against an 8 year old Model S design that sells for £40k less.

shenmue 11 September 2019

The question is: is pretty

The question is: is pretty good good enough? For EVs, they are good. But for what people want in a car? Not so much.

shenmue 11 September 2019

The question is: is pretty

The question is: is pretty good good enough? For EVs, they are good. But for what people want in a car? Not so much.

coolboy 11 September 2019

shish!

xxxx wrote:

Good to see people are finally realizing just how far ahead Tesla are. When existing German companies say "I think all they are doing, we can do..." 'eventually' is an admission that Tesla are actually pretty good, something some people just can't admit.

Just look at the Taycan, brand new it statistics still don't stack up against an 8 year old Model S design that sells for £40k less.

Mister quadrupled x:

which 8 year old Model S design are you alluding with? The Model S40 or the Model S60? Are they able to charge consistently flat at 150kW from 10% to 80% from a charger with CCS plug? That FSD capability might dazzle you a bit, though. By the look of things, Tesla might be able to pull a profit before any robotaxi cruises coast to coast teslafanboys. This week Nürburgring, next month a profitable quarter, by the end of the year FSD coast to coast, next is summon the dog-owner to rainbow farting.

Find an Autocar car review