In a wide-ranging interview that aired Sunday evening on U.S. TV community CBS’ newsmagazine, “60 Minutes,” Volkswagen Group CEO Herbert Diess spoke to Leslie Stahl about in regards to the turmoil in Ukraine, criticism in China, the corporate’s electrification ambitions, aggressive stress from Tesla, which not too long ago opened a manufacturing unit on VW’s house turf, and the automaker’s challenges within the U.S.

Following are edited highlights from the printed. You may learn/watch the interview in its entirety right here.

Stahl: How involved are you that [Vladamir] Putin may seize your factories?

Diess: It’s extremely obscure the state of affairs. I believe it’s going to rely rather a lot on how far are we getting again to negotiations.

Stahl: Volkswagen pulled out of Russia very early. I’m wondering how laborious a choice that was for you.

Diess: It’s fairly a tough resolution for us as a result of now we have about 7,000 folks — loyal folks working for us in Russia. We have now three crops there. We have now clients since a few years, so it’s totally troublesome resolution. However robust sanctions are in all probability the one measures now we have at present, as a result of what we see in Europe is actually an appalling conflict.

Stahl: Do you suppose that Volkswagen had a kind of particular obligation to behave on this case, given the corporate’s Nazi previous?

Diess: I would not go thus far. However sure, now we have this previous, and possibly we’re … extra acutely aware in regards to the … such issues.

Stahl: The world the place your manufacturing unit is is the place Uyghurs are being “re-educated.” They’re in detention camps. Do you are worried that the message is shipped that you simply’re OK with what is going on on in that a part of the world?

Diess: I believe that is not the message … we’re sending, no? We will make certain with our those who there is no such thing as a compelled labor, that persons are handled equally in our plant.

Stahl: You are certain of that?

Diess: Yeah, completely certain.

Diess: We have now to decarbonize the world, as a result of local weather change is going on. And to decarbonize the automotive sector, the one means — possible means ahead is electrification.

Stahl: You are going to have to alter the engine, the transmission.

Diess: Sure.

Stahl: Even the design. They usually say outdated canines do not be taught new methods.

Diess: That is precisely what we attempting.

Stahl: Precisely.

Diess: Yeah. It’s a massive problem. And traditionally there have not been too many instances the place the profitable firms within the outdated world might display that they’re nonetheless profitable within the new world.

Stahl: And you’ve got so many opponents within the electrification space.

Diess: Yeah. It is actually the brand new opponents that are particularly difficult for us, no, coming from software program background, battery background, Apple being mentioned to coming into at some stage, no? These are in all probability the opponents now we have to take most critically.

Diess: Tesla is sort of forward at present, they usually’re rising quick, I’ve to confess. He takes extra dangers than we will. He is now constructing a plant in Berlin. … And I believe it’s totally wholesome for us, no, to have a brand new competitor…

Stahl: There was criticism out of your employees that you simply’re setting him up because the benchmark and speaking about it, they usually do not prefer it.

Diess: Yeah, really, you are proper. They do not prefer it.

Stahl: Within the ’60s and ’70s everyone in america knew about Volkswagen. The Beetle, the Minibus. However since then Volkswagen has not performed properly in america. Why is that, do you suppose?

Diess: It is troublesome. Initially, I’ve to just accept, we misplaced floor right here within the U.S. I believe we did not take the U.S. buyer critically sufficient. No? We tried to promote the European product right here within the U.S.

Stahl: Volkswagen does brilliantly in China, in Europe, in Latin America. I imply, why put the trouble right here?

Diess: That is such an essential market. And there at all times have been discussions, though internally, “Should not we hand over the U.S. as a result of we’re dropping cash? We’re going nowhere.”

Stahl: Precisely.

Diess: No, now we have to come back again within the U.S. We have now to develop into related within the U.S. And we’re in the fitting means.