Volkswagen to deepen alliances with battery suppliers

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Volkswagen is going to create joint ventures and help finance battery production to persuade skeptical cell providers to back its aggressive push for mass-producing electric vehicles, board member Stefan Sommer informed Reuters. VW has stated it will purchase 50 billion euros ($56.57 billion) worth of battery cells and has identified Sweden’s Northvolt, South Korea’s SKI, […]

France is looking for a ‘reasonably favorably’ on Renault/Fiat deal

Renault and Fiat logo

The French government is looking “reasonably favorably” on a proposed merger deal between Italian automaker Fiat and French peer Renault, stated government spokeswoman Sibeth Ndiaye on Monday. “It’s a project that we are looking on in a reasonably favorable light,” Ndiaye informed BFM TV. “Of course we have to look at the conditions under that […]

Government of Italy might ask for symmetry with Paris in FCA-Renault merger

Fiat Chrysler Automobiles (FCA)

Italian government is going to defend national interest in the FCA- Renault merger and might look for a stake in the new international automaker to match French state holdings, a major League ruling party lawmaker said on Monday. Fiat Chrysler has made a “transformative merger” proposal to Renault, the Italian automaker stated, in a deal […]

Judge questions SEC on delay in filing Volkswagen civil suit

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A federal judge on Friday asked the U.S. Securities and Exchange Commission on the timing of its civil suit submitted in March alleging Volkswagen AG of defrauding investors and demanded the agency describe its rationale. Volkswagen was caught using illegal software to evade U.S. pollution tests in 2015, causing a global backlash against diesel vehicles […]

VW wins worker support for restructuring with $1.1 billion battery plan

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Volkswagen workers supported a restructuring of Volkswagen on Tuesday after CEO Herbert Diess vowed to spend 1 billion euros ($1.1 billion) on a new battery cell production plant close to its headquarters in Lower Saxony. Diess requires the support of Volkswagen’s powerful unions as he tries to slim down and simplify the German company, that […]