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Analysis-Volkswagen gets reality check after Tesla’s week of milestones

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Reuters

By Christoph Steitz FRANKFURT (Reuters) – It’s been a sobering week for Herbert Diess’ electric vehicle ambitions. While Tesla joined the trillion-dollar club, received a landmark order from Hertz and set a new sales record in Europe, the Volkswagen chief presented a sales and deliveries outlook cut and a drop in quarterly profits that drove home one point: dethroning Elon Musk as the king of electric vehicles (EV) has got a lot harder. “The recent achievements of Tesla are sending a clear message,” Diess told analysts during a call on third-quarter results on Thursday that ended up being main…

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