Volkswagen Group CEO Herbert Diess appeared on CNBC's “Squawk Box Europe” this week at the World Economic Forum in Switzerland. He noted that VW still plans to catch up and potentially overtake Tesla on EV sales by 2025.
Tesla is the global leader when it comes to electric cars, and it's growing rapidly, even amid factory shutdowns and supply chain constraints. Diess shared that once the supply chain issues are resolved, it should help Volkswagen to start ramping up momentum once again.
CNBC asked Diess why Tesla is so highly valued. More specifically, why are investors so willing to pay a massive premium for Tesla over other automakers. Diess explained that markets are "always about the future.” He added:
