“There Is Only One Way To The Future” – VW CEO Diess Warns

The CEO of Volkswagen Herbert Diess warns in a speech to fellow German auto leaders. He warns that if they continue at their current pace, the room for success will become smaller.

“The time of classic automobile manufacturers is over”

VW CEO – Herbert Diess warns

He also warns that the competition with US Electric car manufacturer Tesla and some other technology giants for supremacy in the automotive industry is getting out of hand.

He urged managers to act more courageously. Volkswagen can manage the transformation with the proceeds of today’s technology. “What we lack is above all speed and the courage to make powerful, if necessary, radical changes.” The future lay in the conversion to a digital tech company – “and only there”. 

In order to finance the realignment, Volkswagen must at least maintain profitability, emphasized the CEO. In the meantime, the long, slacking luxury brand Bentley has struggled. 10,000 deliveries are a strong achievement, said Diess. However, it would be even more impressive if Bentley also achieved a “greater than zero” return. “If I’m completely honest: I would prefer 5000 deliveries and a return of over 20 percent.”

Tesla CEO Elon Musk and VW CEO Diess.

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