Volkswagen has flaunted the sporty side of its electric innovation by setting an all-time record in the annual Pikes Peak International Hill Climb in Colorado. Former Le Mans winner Romain Dumas took the I.D. R Pikes Peak prototype up in just seven minutes 57.148 seconds on the 19.9 km mountain road. That was 16 seconds
Volkswagen is checking whether to seek damages from former Chief Executive Martin Winterkorn, who was a CEO of the automaker when it became known that the automaker had cheated on emissions tests, supervisory board member Stephan Weil informed a newspaper. “Damages against former management board members are under serious consideration, I’m not just stating that,”
Volkswagen and Ford Motor are in talks about jointly developing and building a series of commercial vehicles including vans, the companies verified on Tuesday. In a joint statement, Volkswagen and Ford stated they were thinking about a strategic alliance and “investigating several joint projects,” including development of a series of commercial vehicles for international markets.
A German court ruled on Friday that investors looking for damages concerning a sharp decrease in Volkswagen shares after the automaker revealed emissions cheating in 2015 can also look to redress from majority shareholder Porsche SE. Investors worldwide have submitted lawsuits at a local court in Braunschweig, asking around 9 billion euros ($10.4 billion) in
Volkswagen Truck & Bus on Friday selected mergers and acquisitions specialist Christian Schulz as its new finance chief, as the division looks to tap capital markets to fund an expansion plan which could lead to the acquisition of competitor Navistar. Volkswagen prepares to build a global trucks business by combining its MAN and Scania divisions
Volkswagen has been fined one billion euros ($1.18 billion) concerning diesel emissions cheating in what totals to one of the highest ever fines imposed by German officials against a company, public prosecutors stated on Wednesday. The German fine comes after a U.S. plea agreement from January 2017 when the automaker agreed to pay $4.3 billion
Volkswagen’s new Chief Executive Herbert Diess stated the automaker was still attempting to overcome its emissions cheating scandal following the orders from German authorities that Wolfsburg-based company should pay a 1 billion euro ($1.18 billion) fine. “By doing this, Volkswagen takes responsibility for the diesel crisis,” Diess stated on Wednesday after the automaker agreed to
Global deliveries by Volkswagen’s Czech automaker Skoda Auto increased 13.4 percent year-on-year in May, posting the best-ever result for the month due to double-digit expansion in China and Russia. Skoda stated it delivered 112,400 vehicles in May. Deliveries in western Europe, its largest regional market in the month, increased 3.3 percent and by 1.8 percent
Volkswagen expects its car sales in Argentina to increase 5 percent in this year, down from an earlier estimate of 20 percent, regional Chief Executive Pablo Di Si stated on Friday, mentioning the country’s high interest rates. A sharply weakening peso in late April spurred the country’s central bank to make a range of emergency
Russia’s standards agency stated on Tuesday it had been told about the voluntary recall of 11,003 Audi cars sold since 2017. The watchdog stated the reason for the recall by parent Volkswagen was a possible issue with the emergency call system.
Volkswagen will not showcase its major brand at the Paris motor show in 2018, the recent and most prominent automaker to swerve the biennial industry gathering. Europe’s largest automotive group has scaled back brand presentations at conventional auto shows, consisting Detroit and Frankfurt, since the Volkswagen emissions scandal emerged in 2015. This has partly been
German investigators will keep investigating former Volkswagen AG CEO Martin Winterkorn’s role in the automaker’s emissions test cheating scandal, the Braunschweig prosecutors’ office stated. “Our investigation strategy does not change only because the Americans file charges against Winterkorn,” a spokesman for the prosecutors’ office stated on Friday. The U.S. indictment of Winterkorn, submitted in secret
Volkswagen’s new chief executive has pledged to make the automaker “more honest” as it fights to recover from 2015’s diesel emissions scandal, but its wary investors asked for outside vetting of steps to restore its credibility. Europe’s largest automaker will extend its internal whistleblower system and beef up compliance to avoid the misconduct that caused
Shareholder adviser Hermes EOS stated on Wednesday it had recommended clients vote against the election of two candidates to the supervisory board of automaker Volkswagen and called for an evaluation of the company’s corporate culture. Hermes, which helps guide the voting choices of pension funds and others with 336.1 billion pounds ($458 billion) in assets,
Volkswagen’s Czech division Skoda stated it will move some production of sport-utility vehicles (SUVs) to Germany to meet increasing demand for its models. Executives at Europe’s largest automotive group and its Czech subsidiary have been finding out ways to increase output at Skoda, which consist building of a new factory outside the brand’s Czech home,