Volkswagen CEO Herbert Diess on Friday stated he expected the multi-brand automaking group to be the most profitable manufacturer of electric cars due to economies of scale. Even first generation vehicles, which start presenting production lines next year, are expected to make a positive impact to Volkswagen Group’s automotive margin, Diess stated. Diess further said
U.S. automakers and parts suppliers on Thursday cautioned that President Donald Trump’s steel and aluminum tariffs and threatened vehicle tariffs would undermine the advantages of the new deal to modernize the North American Free Trade Agreement, resulting in widespread job losses. At a wide-ranging hearing prior the U.S. International Trade Commission, labor representatives stated the
Tesla Inc CEO Elon Musk stated on Thursday that Model 3s ordered in the United States by the end of this month are going to be delivered by December 31, as the electric automaker attempts to take advantage of tax breaks. “Tesla just acquired trucking capacity to ensure Model 3 can be delivered in U.S.
BMW stated it was continuing to plan for a no-deal Brexit, given uncertainty around Prime Minister Theresa May’s deal following resignation of several ministers in protest. BMW welcomed this week’s draft withdrawal agreement as a “positive step” in the correct direction but stated the political situation was not certain. “Uncertainty is not good for business.
Ford Motor and Walmart and delivery service Postmates Inc will work together to design a service for providing groceries and other goods to Walmart clients that could someday use autonomous vehicles, the companies stated on Wednesday. The project is the recent to develop out of Ford’s wider effort to develop businesses that could use automated
German automaker Daimler AG stated on Wednesday it prepares to invest 1.1 billion yuan ($158.23 million) in a second research and development center located in Beijing to help speed up localization of Mercedes-Benz vehicle models in the country. Daimler stated the new tech center will be located close to Daimler’s engine and vehicle assembly hub
Deliveries of Volkswagen’s Skoda Auto cars dropped 7.4 percent in October, mostly in European markets because of conversions to conform to the Worldwide Harmonised Light Vehicle Test (WLTP) anti-pollution regulations. Skoda recently opted to split its creative AOR duties between two agencies, Los Angeles based OPTIMIST and Germany-based thjnk. Skoda stated on Thursday that its
Hedge fund Elliott on Tuesday renewed pressure on Hyundai Motor, prompting it to return $10.6 billion of capital to shareholders and look forward to sell non-core assets, consisting of costly land it bought in Seoul for new headquarters. The call came after Hyundai posted a drop in third-quarter revenues in late October, hitting its shares
Volkswagen intends to sell electric vehicles for less than 20,000 euros ($22,836) and safeguard German jobs by converting three factories to make Tesla competitors, a source familiar with the plans stated. Volkswagen and other automakers are having hard time to adapt quickly enough to strict rules introduced after the automaker was discovered to have cheated
Volkswagen could build up to fifty million electric cars on its new electric vehicle platform and is looking at broadening its manufacturing footprint in the United States, Chief Executive Herbert Diess informed Automotive News. “We set up the plant in Chattanooga always with the idea to be able to grow it, to mirror it,” Diess
Zotye Automobile, that is partnered in China with American automaker Ford Motor, stated on Tuesday it planned to start selling SUVs in the United States in 2020. A Zotye spokesman stated Ford is uninvolved in the Chinese automaker’s U.S. distribution strategies. Ford has not commented yet. In China, Ford had tapped Zotye to offer lower-priced
German automakers agreed to spend up to 3,000 euros ($3,430) every vehicle to help decrease diesel emissions as the government and industry respond to driving bans in major cities. While Transport Minister Andreas Scheuer and auto leaders were hammering out a deal on anti-pollution measures in a five-hour meeting on Thursday, a court ruled that
Renault stated it will build new Nissan and Mitsubishi vans at its local plants, boosting investment in the country as it looks for closer integration of the three-way automaking alliance with government support. The declaration, timed to coincide with a plant visit by President Emmanuel Macron, “underlines the importance of France for the alliance”, Renault-Nissan-Mitsubishi
A spokesman for Volkswagen on Thursday rejected a media report that said the automaker planned to fully cover the costs of diesel hardware retrofits, which would come in at 3,000 euros ($3,373.30) every vehicle. The spokesman stated the report on manager magazin’s website was false, and that Volkswagen had not made such an offer. He
Ford Motor stated it will join the rising micro-mobility movement with the acquisition of 2-year-old Spin, an electric scooter rental firm from San Francisco. Ford is one of the first to enter the sector. The automaker will invest about $200 million in Spin. The purchase price is lowered by investments in Lime and Bird, the