Next 5 to 10 years could be ‘really tough’ for our competitors, VW chief says
The transition towards the electrification of vehicles is a challenge for car industry and whoever manages it best will succeed, the CEO of German automaker Volkswagen Group told CNBC Tuesday. “We are really getting into a transition period of the automotive industry and, reading between the lines of all the communications our competitors are doing, it will be tough times because we have to invest in new technology, not only electric drive trends but autonomous driving, connectivity,” Herbert Diess, chief executive of Volkswagen, told CNBC’s Annette Weisbach at the Geneva Motor Show.