It's been a sobering week for Volkswagen Group Herbert Diess' electric vehicle ambitions. While Tesla joined the trillion-dollar club, received a landmark order from Hertz and set a new sales record in Europe, Diess presented a sales and deliveries outlook cut and a drop in quarterly profits that drove home one point: dethroning Elon Musk as the king of electric vehicles has got a lot harder. A long-time admirer of Musk, Diess this year outlined plans including setting up six large battery factories in Europe aimed at overtaking VW's U.S. rival as the world's top EV seller by 2025.
SOURCE: TIMES OF INDIA
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