August 22, 2019 / 1:07 PM / 6 months ago

UPDATE 1-Volkswagen CEO wants a stake in Tesla - Manager Magazin

* VW CEO interested in taking a Tesla stake - Manager Magazin

* VW CEO eyes Tesla's battery and software tech - Manager Magazin

* VW not available for comment (Adds source comments)

BERLIN, Aug 22 (Reuters) - Volkswagen CEO Herbert Diess wants to take a stake in Tesla to access the U.S. company's software and batteries technology, German business publication Manager Magazin reported on Thursday.

"Diess would go in right away if he could," the magazine quoted an unidentified top Volkswagen manager as saying.

Acquiring a stake would be enough for the German carmaker to access Tesla's technological expertise, the report said.

An obstacle, however, would be to get the consent of Volkswagen's controlling Piech and Porsche families to fund the stake purchase, the magazine said.

Volkswagen was not immediately available for comment.

A source close to Volkswagen said the management board was not currently in talks to acquire a Tesla stake.

Diess meets with Tesla CEO Elon Musk on a regular basis, Manager Magazin said, adding the U.S. electric carmaker has so far rebuffed efforts at striking an alliance.

A banker close to Volkswagen said that while Diess would love to have Tesla's software developers, the CEO believed it was almost impossible to justify paying $30 billion (27 billion euros) to buy the whole company.

1 euro = $1.1076 Reporting by Thomas Seythal; Additional reporting by Jan Schwartz and Edward Taylor; Editing by Mark Potter

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below