Toyota Motor TM North America CEO Jim Lentz is fond of Volvo’s move to compete with Elon Musk’s Tesla TSLA and offer an electric version on its portfolio of cars.
“I think it’s a good move on their part,” Lentz said in an interview with TheStreet. “I think [Volvo] sells about 100,000 [vehicles] here in the U.S, – we sell about 2.5 million here in the U.S. When you have a much smaller portfolio of product, it allows you to concentrate in a much smaller niche of the marketplace.”
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