News: Volkswagen is worth 200 billion euros, CEO Diess says.
FRANKFURT (Reuters) – Volkswagen, the world’s second largest automaker, is valued at 200 billion euros ($ 238 billion), said CEO Herbert Diess, confirming a previously set target based on a share that has risen 38% so far in 2021.
“Even analysts come to the conclusion that the sum of the parts has this value,” Diess told Reuters after the group’s annual press conference.
The shares of Volkswagen, which owns the Audi and Porsche brands, rose by 8.4% on Tuesday to their highest level since July 6, 2015, giving the carmaker a current market valuation of more than 120 billion euros.
Tesla, which sells only a fraction of the cars compared to its German rival, has a current market value of around $ 680 billion.
“We have shown that we should not be underestimated when it comes to the new business areas. We’re serious gamer and we have the resources to be a part of the new game. “
($ 1 = 0.8391 euros)
Reporting by Jan Schwartz and Christoph Steitz; Adaptation by Riham Alkousaa
Original Source © Reuters