Volkswagen Group CEO Herbert Diess instructed high managers that the world’s largest automaker must endure a “radical overhaul” within the face of trade change or danger being pushed apart.
“The time of conventional automotive producers is over,” Diess stated in ready remarks at an inner assembly Thursday. The corporate should undertake digital know-how, he stated, citing a latest surge in electric-car rival Tesla Inc.’s share value as proof of a altering aggressive panorama.
Whereas VW proved relatively resilient final 12 months, Diess stated extra measures are wanted as a result of the trade change has solely simply begun.
He stated the German automaker must speed up its transformation to keep away from turning into one other Nokia , which misplaced its dominance within the cell phone market to Apple.
“The large query is: Are we quick sufficient?,” Diess instructed VW’s senior managers. “If we proceed at our present pace, it’ll be very robust.”
Volkswagen must get a grip on software program and car…