Exclusive: Volkswagen to discuss CEO contract extension on Friday -sources
Reuters | Jul 08, 2021 08:18 PM EDT
Herbert Diess, CEO of German carmaker Volkswagen AG, poses in an ID.3 pre-production prototype during the presentation of Volkswagen s new electric car on the eve of the International Frankfurt Motor Show IAA in Frankfurt, (Photo : REUTERS/Wolfgang Rattay/File Photo)
Volkswagen s supervisory board will discuss on Friday whether to extend the contract of Chief Executive Herbert Diess, two people familiar with the matter told Reuters.
The meeting, at which the sources said the board could decide in favour of a two-year extension for Diess until 2025, is taking place only days ahead of Volkswagen s strategy day scheduled for July 13.
No Volkswagen Isn’t Buying Tesla, But German Automaker Wants To ‘Overtake’ EV Company
03/16/21 AT 11:30 AM
The rivalry between Tesla and Volkswagen continues as the German automaker’s CEO Herbert Diess is ready to take on the EV maker but has completely ruled out a merger of the brands.
In an appearance on CNBC’s “Squawk Box Europe” on Tuesday, Diess said he hasn’t considered a deal with Tesla CEO Elon Musk to manufacturer electric cars or tie up the companies. He added, “No, we haven’t considered [that], we are going our own way.”
Diess even revealed a part of Volkswagen’s strategy against Tesla, saying, “We want to get close and then overtake.”
Traditional automakers grow electric portfolio By ZHANG DANDAN | China Daily | Updated: 2021-01-18 11:41 Share CLOSE Herbert Diess, CEO of German carmaker Volkswagen AG, poses in an ID.3 pre-production prototype during the presentation of Volkswagen s new electric car on the eve of the International Frankfurt Motor Show IAA in Frankfurt, Germany on Sept 9, 2019. [Photo/Agencies]
Bigname automakers are making strides in their electrification campaigns.
General Motors, the largest carmaker in the United States, unveiled the latest electric powertrain Ultium Drive at this year s Consumer Electronics Show, or CES, held from Jan 11-14 in Las Vegas.
Consisting of five drive units and three motors, the electric powertrain is expected to function for electric vehicles of different sizes and models, which will help the carmaker expand its electric vehicle production capacity and lower costs.
VW deal addresses board battle
‘ELECTROMOBILITY’: An executive said that there was total agreement between the supervisory board, the board of management and employee representatives
AFP, FRANKFURT, Germany
Volkswagen AG’s (VW) supervisory board on Monday announced a deal to end infighting over top jobs and strategy that risked toppling Volkswagen chief executive Herbert Diess, saying that the boss’s strategy had their “full support.”
Diess, 62, has come into conflict with Volkswagen’s worker representatives over his plans for the massive automaker to shift toward electric vehicles and break decades-old power structures that many observers blame for its “dieselgate” emissions cheating scandal.