Energy & Science

VW CEO Lauds Musk Over Tesla’s Earnings and Value Potential

Herbert Diess says Tesla doing what many thought impossible
Top car producer says most valuable company to be in mobility

Elon Musk
Photographer: Andrew Harrer/Bloomberg

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By Christoph Rauwald

July 24, 2020 at 11:17 AM UTC

This article is for subscribers only.

Volkswagen AG’s chief executive officer again praised Tesla Inc.’s Elon Musk, this time for showing it’s possible to profit off electric cars even in the midst of a global pandemic.

Tesla and VW group’s Porsche sports-car division will be among the few automakers who navigate the market turmoil caused by Covid-19 without suffering a quarterly loss, CEO Herbert Diess said on LinkedIn.