Elon Musk joins VW executive conference as ‘surprise guest'

Asia's Tech News Daily

elon musk, volkswagen ag, tesla inc, herbert diess, electric vehicles

Elon Musk made a surprise appearance at a Volkswagen AG conference, addressing 200 executives of one of his biggest competitors about the German company’s pivot to electric vehicles, his management style, and supply chain and production issues.

In a rare move by a corporate titan addressing a competitor, Tesla Inc.’s chief executive officer spoke in the video conference at the invitation of Volkswagen CEO Herbert Diess, and even said he’s sure the German automotive icon will master the move to electric vehicles.

Under Diess, Volkswagen is seeking to become one of the world’s biggest makers of electric vehicles, and pitted its largest plant against the Tesla factory that’s under construction near Berlin. He urged his managers at the conference to make that transformation as soon as possible.

Elon Musk told the group that Tesla is more agile than other automakers because of his management style where he’s first and foremost an engineer, and that he’s fascinated by supply chains, logistics and production processes.

Diess said Tesla’s handling of the global chip shortage was “impressive” as it was able to switch to different chips within just two to three weeks using a software it developed.

“We need a new mindset at Volkswagen AG to take on the new competition,” Diess said in a Linkedin post. “Happy to hear that even our strongest competitor thinks that we will succeed the transition if we drive the transformation with full power.”

Internet Explorer Channel Network
Asia's Tech News Daily
News Related


Byju's acquires Austria's GeoGebra

(Source: ShutterStock) Continuing its aggressive acquisition spree, Byju’s on Wednesday said it has acquired Austria-headquartered GeoGebra. The acquisition will help the homegrown edtech company – which has 115 million students ... Read more »

'Lack of information' over LV= deal

Read more »

BMW closes deal for millions of chips for lighting systems

Photo: ANP German carmaker BMW has signed a long-term agreement to secure the supply of chips for lighting systems in cars. The car industry has been struggling with shortages of ... Read more »

Tighter Covid restrictions could reportedly be announced for England as omicron spreads

Prime Minister Boris Johnson gives an update on the coronavirus Covid-19 pandemic during a virtual press conference inside 10 Downing Street on March 18, 2021 in London, England.Tolga Akmen – ... Read more »

Wake Up! It's time to review and rebalance your investment portfolio

It is often said that the only thing constant in our lives is ‘change’. Indeed, this is true. Your likes and dislikes change over a period of time, your goals ... Read more »

Fewer workers at risk of poverty again

Just over 900 thousand people lived in households below the low-income threshold in 2020, 376 thousand of whom had been living for at least four years in a row (2.4 ... Read more »

Unions file complaint about office duty Nouryon

Nouryon, the former chemical branch of paint group AkzoNobel, is said to have informed staff about office duty in a memo at the end of November. According to the complainants, ... Read more »

Which financial terms are Hongkongers searching for on Google? iBonds 2021 beats GME, Kuaishou, Xiaomi, Tesla and NFTs to top the annual list

The Hong Kong government’s inflation-linked debt, known as iBonds, topped Google’s annual ranking of the most-searched financial terms, underscoring the appetite for sound investments during the Covid-19 pandemic. “iBond 2021” ... Read more »

Thai tourists prepare for weekend Survey predicts B5.72bn in spending

A tourist looks at the sunrise on Long Ruea Ta Muen Mountain, a new tourist destination in Noen Maprang district of Phitsanulok, on Monday. (Photo: Chinnawat Singha) Thai travellers are ... Read more »

Over 3.54 lakh tonnes of e-waste was collected, processed in FY21: Minister of State for Electronics and IT Rajeev Chandrasekhar

Over 3.54 lakh tonnes of e-waste was collected and processed in FY21, up from 2.24 lakh tonnes in the previous financial year, Parliament was informed on Wednesday. Based on annual ... Read more »

Check out how bank stocks are faring according to Stock Reports Plus

According to the latest analysts’ consensus collated by Stock Reports Plus, over 58% of banks in Nifty Bank index have been given a ‘Strong Buy/Buy’ recommendation. Stock Reports Plus, powered ... Read more »

Simple Energy to invest Rs 2,500 crore to set up EV manufacturing facility in Tamil Nadu

Representative image Electric two-wheeler maker Simple Energy on Wednesday said it will invest up to Rs 2,500 crore over the next five years to set up an electric vehicle manufacturing ... Read more »

Rotterdam company buys Amsterdam waste processor for 450 million euros

The Rotterdam waste company AVR has bought the Amsterdam waste processor AEB for 450 million euros. The municipality of Amsterdam reports this on Wednesday. With the sale, the municipality has ... Read more »

Think tank: bigger investments needed in oil and gas production

Photo: ANP Companies must significantly increase investment in oil and gas production to prevent energy prices from rising further. This is stated in a report by the think tank International ... Read more »

Attempts to undermine Nord Stream 2 are not from Germany, ex-chancellor says

According to Gerhard Schroeder, Nord Stream 2 is already "agreed project" and "it should be brought to an end Read more »

RBI Monetary Policy: Here are 10 rate-sensitive stocks

Five of the six members of the Reserve Bank of India’s (RBI) Monetary Policy Committee on December 8 voted in favour of keeping the repo rate unchanged at 4 percent ... Read more »

'Pharma Bro' firm reaches $40 million settlement as Shkreli faces trial

Martin Shkreli, best known for drug price-gouging and a snarky online persona, still faces an antitrust trial over his alleged role in masterminding a plot to jack up prices for life-saving drug Daraprim. Read more »

IKEA to open its first small-format city store in Mumbai on December 9

Peter Betzel, IKEA India CEO and CSO, addresing the media during the launch. IKEA, the Swedish retail major known for its large-format stores spanning 300,000-400,000 square feet, is launching a ... Read more »

Facts to know about Mi-17V5 chopper that crashed with CDS Gen Bipin Rawat on board

Latest visual from the spot (between Coimbatore and Sulur) where an IAF chopper crashed in Tamil Nadu. CDS Bipin Rawat, his staff and some family members were in the chopper. ... Read more »

RDIF partners in South Korea ready to start Sputnik Light supplies to global market

A commercial batch of the vaccine successfully passed quality control in the Gamaleya Center Read more »

RBI widens scope for digital money usage, increases UPI limits and ropes in feature phone users

Source: Shutterstock The Reserve Bank of India (RBI) announced three key measures on Wednesday to make the Unified Payments Interface (UPI) transactions more efficient. First, the transaction limit for payments ... Read more »

Airtel inks deal with Juniper Networks to expand broadband network coverage

Bharti Airtel Juniper Networks on Wednesday announced that it has been selected by Bharti Airtel (Airtel) to deliver network upgrades for the expansion of Airtel’s nationwide broadband coverage across India. ... Read more »

Amsterdam waste incinerator AEB sold to Rotterdam AVR

The Amsterdam waste processor AEB (Waste Energy Company) comes into Rotterdam hands. The company was sold to industry peer AVR Afvalprocessing, which made an offer of 450 million euros. This ... Read more »

Fewer payment problems in corona time

According to CEO Peter van den Bosch of the Credit Registration Bureau (BKR), the corona pandemic has led to fewer payment problems. “People have recently spent less money on ‘unnecessary ... Read more »

Defensive sectors lift European shares after two-day rally

European stocks inched higher on Wednesday after marking their strongest two-day gain in more than a year, with defensive stocks rising as investors weighed the effectiveness of existing vaccines against ... Read more »

Antilia bomb scare case: HC quashes NIA court's order staying bail granted to bookie Naresh Gaur

The Bombay High Court on Wednesday quashed and set aside a special court’s order staying the bail granted to cricket bookie Naresh Gaur in the Antilia bomb scare case. A ... Read more »

UAE to allow establishment of acquisition companies

The United Arab Emirates will allow the creation of companies for acquisition or merger purposes, the Economy Ministry said on twitter. The move is part of a series of amendments ... Read more »

Buy INOX Leisure; target of Rs 547: Edelweiss Securities

Edelweiss Securities’ report on INOX Leisure We recently met Mr. Siddharth Jain, Director (and promoter), and Mr. Alok Tandon, CEO, of INOX Leisure. If there is no serious wave 3 ... Read more »

McColl's eyes recovery from shortages crisis but issue remains 'major constraint'

The convenience store chain, which suffered a fall in annual revenues partly caused by the disruption, said sales were continuing to be affected into the new financial year. Read more »

Electricity production from coal doubled last quarter

Electricity production from coal doubled in the past quarter compared to a year earlier. The Central Bureau of Statistics (CBS) reports that it was 96 percent higher. On the other ... Read more »

KFC announces the return of 11 Herbs and Spices Firelog for the holidays

Photo by: KFC Press Release KFC just revealed it had brought back its popular 11 Herb and Spices Firelog that has become a favorite of most customers. The fried chicken-scented ... Read more »

Manual scavenging abolished in India, 321 die cleaning sewers in 5 years: Govt to Lok Sabha

There were no report of people dying while cleaning human excreta, said Ramdas Athawale. (Representative Image) India has achieved the target of abolition of manual scavenging, but 321 persons died ... Read more »

Moneycontrol Pro Panorama | Take guard, expect more swings in the market

Representative image Dear Reader, The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little ... Read more »

Nirmala Sitharaman, Nykaa's Falguni Nayar make it to Forbes list of 100 most powerful women

Finance Minister Nirmala Sitharaman and Nykaa CEO FAlguni Nayar (Image credit: Forbes) Forbes on Tuesday announced its 18th annual ranking of The World’s 100 Most Powerful Women, the definitive audit ... Read more »

China stocks extend gains on monetary easing

SHANGHAI: China stocks settled higher on Wednesday as a cut in banks’ reserve requirement ratios kept investor sentiment buoyed, with consumer staples and chipmakers leading the rise. The blue-chip CSI300 ... Read more »

Japanese shares extend rally as Omicron fears fade

TOKYO: Japanese shares jumped on Wednesday, as investors grew hopeful that the Omicron coronavirus variant would be less disruptive for the global economy than initially feared. The Nikkei share average ... Read more »

Need tighter regulations to deal with cybercrimes: IT minister in Lok Sabha

There is a need for tighter regulations to deal with cybercrimes, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said on Wednesday. Replying to questions in Lok Sabha, Vaishnaw ... Read more »

Aedes concerned about commercial construction of social rental homes

Photo: ANP Aedes, the umbrella organization of housing associations, is concerned about commercial parties that build cheap social rental housing, where this was previously done by housing associations. Aedes thinks ... Read more »

Volkswagen secures raw materials as part of $34 billion battery push

Volkswagen on Wednesday announced key partnerships to secure raw materials Europe’s largest carmaker needs to realise its ambitious electric vehicle strategy, eager to close a gap with rival Tesla . ... Read more »

Need tighter regulations to deal with cybercrimes: IT minister Ashwini Vaishnaw in Lok Sabha

IT Minister Ashwini Vaishnaw in Lok Sabha There is a need for tighter regulations to deal with cybercrimes, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said on Wednesday. ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic