VW Chairman Denies That A Tesla Tie Up Is In The Works

Recently, a rumor spread around the world that Herbert Diess - the chairman of the board of management of Volkswagen Group -  expressed interest in buying a stake in Tesla.

It was then quickly denied in an update and now Herbert Diess explained at the 2019 Frankfurt Motor Show what he really thinks:

“No, I wouldn’t consider a stake in Tesla. I really admire what it has done, which is also helpful for us because it is really pushing us. The cars are nice and I like to drive them.”

“I wouldn’t buy a stake because I think all they are doing, we can do.”

PUGPROUD - 9/11/2019 4:01:03 PM

+6 Boost

VW seems better poised and committed to EV's than other large auto companies. Don't see a big upside by aligning with Tesla.

qwertyfla1 - 9/12/2019 7:55:23 AM

-3 Boost

VW are the absolute best at denial -just look at the whole Diesel-gate fiasco for one example. Truth in Engineering, Clean Diesel...

Truthy - 9/12/2019 10:10:43 AM

+5 Boost

Elon is spreading this rumor to try to shore up Tesla share price. Likely means more bad news when 3rd quarter results are announced. YTD Tesla share price is down about 30 percent while the NASDAQ (where tesla shares are traded) is up 28 percent YTD. Quite a gap.