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Tesla’s German landing will fuel competition – Volkswagen CEO

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Volkswagen CEO Herbert Diess attends the Munich Auto Present, IAA Mobility 2021, in Munich, Germany, September 7, 2021. REUTERS/Wolfgang Rattay

FRANKFURT, Sept 24 (Reuters) – The deliberate opening of Tesla’s first gigafactory in Europe later this yr will drive native business to step up its sport, Volkswagen Chief Govt Herbert Diess mentioned on Friday.

Diess’ feedback, , come as Tesla continues work on its plant in Gruenheide, close to Berlin, because it awaits remaining constructing approval for the 5.8 billion euro ($6.8 billion) website.

“Effectivity is vital for the transformation of our business/Germany. Tesla develops in shorter processes, works nearer with the very best within the business and takes extra danger,” Diess, a identified admirer of the electrical automotive pioneer led by Elon Musk, mentioned.

Wolfsburg-based Volkswagen, Europe’s largest carmaker, goals to overhaul Tesla because the world’s high vendor of electrical vehicles by 2025, a declare that’s underscored by an bold plan to construct six giant battery factories in Europe by 2030.

“Gruenheide will enhance competitors in Germany – additionally with Wolfsburg.”

The EV maker is internet hosting a public tour of the Gruenheide plant on Oct. 9, days earlier than the ultimate session for objections to its development closes. Musk has confirmed he’ll attend the occasion, dubbed the “Giga-fest”, in particular person.

($1 = 0.8540 euros)

Reporting by Christoph Steitz, Modifying by Victoria Waldersee and Louise Heavens

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