Volkswagen CEO says carmaker will surpass Tesla in EV sales by 2025

Dice says he expects Germany’s auto giant to gain some momentum in the coming months.

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Volkswagen’s chief executive believes that by 2025 it could overtake Tesla, Europe’s largest carmaker, to become the world’s largest electric car dealer.

Speaking to CNBC’s “Squawk Box Europe” at the World Economic Forum in Davos, Switzerland on Tuesday, Herbert Dice said that reducing supply chain problems would probably help build some momentum for the German auto giant in the coming months.

“The market is always about the future,” Dice said, explaining why investors value Tesla at such a premium to other traditional car makers such as Volkswagen.

“Tesla is currently in the lead in the case of the EV, perhaps the most digital car company already and they have some advantages,” he continued. “We still aim to hold on to sales by 2025 and possibly overtake.”

Tesla has been able to show good results and high returns with a reliable business model, Dice said. However, he reiterated his belief that Volkswagen could close the gap on EV sales soon.

“I think for Tesla, too, ramping now might be a little more challenging. They’re opening new plants and we’re trying to keep up the pace. We think we’re going to build something in the second half of the year. Speed ​​up,” Diess said.

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