 "Volkswagen CEO says Apple can mount major challenge with auto push")
Volkswagen AG Chief Executive Officer Herbert Diess said cash-rich technology giants invading the auto industry pose a much bigger challenge for the German manufacturer than traditional rivals like Toyota Motor Corp.
“We look forward to new competitors who will certainly accelerate the change in our industry and bring in new skills,” Diess said in a LinkedIn post when asked about reports that Apple Inc. is developing a self-driving car.
“The unbelievable valuation and the practically unlimited access to resources instill a lot of respect in us.” Diess, 62, received a fresh vote of confidence from the VW supervisory board this month to make the sprawling industrial conglomerate more nimble after internal wrangling had spooked investors.
“We look forward to new competitors who will certainly accelerate the change in our industry and bring in new skills,” Diess said in a LinkedIn post when asked about reports that Apple Inc. is developing a self-driving car.
“The unbelievable valuation and the practically unlimited access to resources instill a lot of respect in us.” Diess, 62, received a fresh vote of confidence from the VW supervisory board this month to make the sprawling industrial conglomerate more nimble after internal wrangling had spooked investors.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%