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Benzinga
Benzinga
Technology
Rachit Vats

Volkswagen CEO Herbert Diess Says China's Nio And Xpeng Are 'Very Serious Competitors'

Volkswagen China NIO Herbert Diess Xpeng NYSE Nio Inc Xpeng Inc

Volkswagen Group (OTC: VWAGY) considers China-based electric vehicle makers Nio Inc (NYSE: NIO) and Xpeng Inc (NYSE: XPEV) as "very serious competitors", the German automaker's CEO Herbert Diess said on Tuesday.

What Happened: Nio and Xpeng have had a strong start in the European market, both foraying into Norway last year.

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