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Volkswagen CEO says carmaker faces same fate as Nokia without urgent reforms


"The big questions is: are we fast enough?," Diess told VW's senior managers following a global board meeting on Thursday. "If we continue at our current speed, it is going to be very tough."

Volkswagen Chief Executive Herbert Diess said the German carmaker needs to accelerate its transformation to avoid becoming another Nokia, which lost its dominance in the handset market to Apple.

"The big questions is: are we fast enough?," Diess told VW's senior managers following a global board meeting on Thursday. "If we continue at our current speed, it is going to be very tough."

The ...


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