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TESLA, INC.

(TSLA)
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Real-time Estimate Cboe BZX  -  04:18 2022-08-08 pm EDT
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Easing chip shortages to help Volkswagen in H2 - CEO

06/28/2022 | 07:36am EDT
FILE PHOTO: VW logo at 2022 New York International Auto Show

BERLIN (Reuters) - Volkswagen sees a strong second half of 2022 and expects progress in catching up with rival Tesla as easing chip shortages start to offset supply chain bottlenecks and rising costs, the carmaker's CEO said on Tuesday.

"We are earning more than ever," Chief Executive Herbert Diess said at a works meeting, adding Volkswagen is ramping up electric vehicle volumes in its biggest markets in Germany and China thanks to easing semiconductor shortages.

This should allow the carmaker to narrow the Volkswagen-Tesla gap this year and meet its goal of becoming market leader by 2025 if it seizes the moment while the U.S. electric car maker burns cash on large investments, the CEO said.

"Elon (Musk) has to ramp up two highly complex factories in Austin and Gruenheide at the same time - as well as expand production in Shanghai. That's going to take strength out of him," Diess said.

(Reporting by Zuzanna Szymanska; Editing by Madeline Chambers)


© Reuters 2022
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ChangeLast1st jan.
TESLA, INC. 0.78% 871.27 Delayed Quote.-18.19%
VOLKSWAGEN AG 1.58% 145.7 Delayed Quote.-19.18%
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Financials (USD)
Sales 2022 84 861 M - -
Net income 2022 12 525 M - -
Net cash 2022 19 851 M - -
P/E ratio 2022 81,9x
Yield 2022 -
Capitalization 903 B 903 B -
EV / Sales 2022 10,4x
EV / Sales 2023 7,34x
Nbr of Employees 99 290
Free-Float 82,8%
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Technical analysis trends TESLA, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 37
Last Close Price 864,51 $
Average target price 912,28 $
Spread / Average Target 5,53%
EPS Revisions
Managers and Directors
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin & Chief Financial Officer
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
James Rupert Murdoch Independent Director
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