VW wants to buy stake in Tesla, report said

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BERLIN — Volkswagen CEO Herbert Diess is interested in acquiring a stake in Tesla, German business publication Manager Magazin reported on Thursday, citing company sources.

“Diess would go in right away if he could,” the magazine quoted one of Diess’ top managers as saying.

Diess believes VW could profit from Tesla’s competence in the fields of batteries and software, Manager Magazin said.

VW has enough money, the report said.

A big obstacle would be to get the consent of Volkswagen’s dominating owner families, the Piechs and the Porsches.

A banker close to Volkswagen said Diess would love to have Tesla’s software developers but it is almost impossible to justify paying $30 billion to buy the whole company.

Acquiring a stake would be sufficient for a start, Manager Magazin said.

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