Volkswagen discusses battery cell subsidies scheme
Volkswagen on Monday stated it had expressed its motive to Germany’s Economy Ministry to take part in a state funding scheme aimed at supporting battery cell production for electric automobiles. “Volkswagen group wants to take part in Economy Minister Altmaier’s initiative support the industrial production of mobile and static batteries,” the company stated. Over 30
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BMW, Varta apply for funds in battery cell push for electric cars
Luxury automaker BMW and Germany’s Varta have both applied for state funding intended at supporting battery cell production for an electric automobile, they stated on Friday, hitting a deadline set by the German government. Germany has earmarked 1 billion euros ($1.13 billion) to support a consortium looking to manufacture electric car battery cells and prepares
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BMW, Mercedes-Benz lower costs in China after VAT drop
BMW AG and Mercedes-Benz stated on Saturday they are going to reduce their prices in China, following the government declaration it will decrease the country’s value-added tax (VAT) beginning on April 1. The German automakers each published posts on Chinese social media announcing immediate cost cuts for several models. The discounts come as China endures
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Renault-Nissan should streamline decision-making, says Senard
Renault and Nissan should streamline decision-making in the automaking alliance and increasing the companies’ cross-shareholding are not present in their plans, Renault’s chairman stated in comments published on Sunday. Japan’s Nissan Motor and France’s Renault, along with junior ally Mitsubishi Motors, agreed last week that they would retool the alliance to place themselves on a
U.S. SEC sues Volkswagen, ex-CEO over emissions scandal
The U.S. Securities and Exchange Commission (SEC) is taking legal action against Volkswagen and its former CEO Martin Winterkorn over the German automaker’s diesel emissions scandal, accusing of a “massive fraud” on U.S. investors. VW was caught using illegal software to evade U.S. pollution tests in 2015, causing a global backlash against diesel that and
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Renault pushes back decision over Carlos Ghosn’s 2018 pay
French automaker Renault stated on Friday that it had decided to push back a decision about the 2018 pay package for former boss Carlos Ghosn. “The board of directors will meet again in April to make its conclusions,” stated Renault. Recently, Renault and Japan’s Nissan stated they would retool the world’s top automaking alliance to
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BMW and Daimler seek savings from shared platforms
BMW and Daimler are in talks to work together in developing vehicle platforms for electric vehicles in a step that could save each automaker at least 7 billion euros ($7.91 billion), Sueddeutsche Zeitung and Auto Bild stated on Thursday. The two premium automakers already have a joint procurement program and are now extending their alliance
Scania sees China rebound, braces for Brexit hit to UK orders
Volkswagen-owned truckmaker Scania stated on Thursday that demand in China had bounced back since the beginning of this year, but it was bracing for a potentially major drop in UK orders if Britain departs the EU under a “hard” Brexit. Scania is part of Volkswagen’s Traton truck unit, whose planned initial public offering in April
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Volkswagen can face U.S. SEC lawsuit concerning emissions cheating
Volkswagen stated the U.S. Securities and Exchange Commission may sue the automaker due to its failure to reveal its diesel emissions scandal to investors. VW said in its annual report released previously this week that the SEC investigation focuses on the automaker’s nondisclosure of “certain Volkswagen diesel vehicles’ noncompliance” with U.S. emissions regulations. Volkswagen has
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Audi seeks stronger ties to Porsche in cost-cutting drive
Audi will make greater utilization of vehicle platforms and technologies developed with Porsche and Volkswagen as it commences on a 15 billion euro cost-cutting and performance drive, CEO Bram Schot stated on Thursday. Audi was a key research hub within Volkswagen Group until its engineers were found developing the engine software which was capable of
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Skoda Auto February deliveries dropped 2 percent
Volkswagen’s Czech unit Skoda Auto experienced global deliveries fall 2 percent to 90,900 cars year-on-year in February, mostly due to the depressed Chinese market, the automaker stated on Wednesday. Deliveries in China dropped by 18.4 percent to 16,000 cars, while increasing in western and eastern Europe.
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Nissan, Renault break up chairmanship in wake of Ghosn’s ouster
Japan’s Nissan Motor and France’s Renault stated they would retool the world’s top automaking alliance to put themselves on more equal footing, breaking up the all-powerful chairmanship earlier wielded by ousted boss Carlos Ghosn. The ouster of Ghosn, credited for rescuing Nissan from near-bankruptcy in 1999, had resulted in much uncertainty about the future of
Volkswagen expects software to make up 90 percent of auto industry innovation
Volkswagen will increase its hiring of software experts to make sure that the automaker stays at the forefront of innovation in an industry preparing toward refining mechanical, instead of software components. “Software will account for 90 percent of future innovations in the car,” Herbert Diess informed VW’s annual press conference. Volkswagen is retooling its plan
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Volkswagen to reveal U.S. plan at end of first quarter
Volkswagen will decide if it makes sense to increase its stake in Chinese joint venture companies toward the end of 2019 or starting of next year, CEO Herbert Diess stated on Tuesday. The automaker will also reveal strategies for North America at the end of the first quarter, VW stated at a news conference to
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Volkswagen warns on jobs as margins slip
Volkswagen will slash jobs as it accelerates the rollout of less labor-intensive electric cars and will evaluate its sprawling portfolio of brands as it battles to reverse a slide in profit margins, the German automaker stated on Tuesday. The company stated it prepared to launch nearly 70 new electric models by 2028, aiming to put
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