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Tesla Is No Niche Automaker Anymore, Volkswagen’s CEO Says

  • Model 3 sales turn Tesla into rival VW takes very seriously
  • Electric cars intensify industry’s already high capital needs
Herbert Diess speaks during the world premiere of the new VW Golf on Oct. 24.
Herbert Diess speaks during the world premiere of the new VW Golf on Oct. 24.Photographer: Markus Hibbeler/Bloomberg
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There appears to be a budding bromance between the CEOs of Volkswagen AG, the world’s largest automaker, and Tesla Inc., the electric-car company suddenly back on the ascent.

At an event where VW was presenting the new Golf hatchback late Thursday, Chief Executive Officer Herbert Diess quibbled with reporters who suggested Tesla is in trouble because it’s too small.