Volkswagen rejects allegations chairman was aware of emissions cheating
Volkswagen has rejected allegations that Chairman Hans Dieter Poetsch was aware of the automaker’s emissions test cheating nearly three months prior U.S. authorities made it public in September 2015. Mentioning internal documents from investigators, German weekly Bild am Sonntag noted that Poetsch, VW’s finance head of the time, discovered about the automaker’s violations of the
- Published in Volkswagen
Volkswagen can build up to 15 million cars using electric car platform
Volkswagen on Friday stated it can build up to 15 million electric cars utilizing its new MEB vehicle platform, revealing the scope of the automaker’s push to mass produce zero-emission vehicles. Volkswagen is spending over 11 billion euros ($12.52 billion) into electric connected and autonomous vehicles by 2023, about 9 billion euros of this amount
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Volkswagen seeks 6-billion-euro cost and efficiency gains by 2023
Volkswagen’s core brand will seek cost and efficiency gains of nearly 6 billion euros ($6.8 bln) in order to raise the core brand’s operating margin to 6 percent by 2023, German daily Handelsblatt noted, mentioning company sources. Volkswagen has stated it seeks to achieve an operating return on sales of no less than 6 percent
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Volkswagen may use Ford’s plants in U.S. for building cars
Volkswagen’s chief executive stated on Tuesday following a meeting at the White House that the German automaker was making an alliance with Ford Motor and might use the U.S. automaker’s capacity to build cars. VW CEO Herbert Diess stated the company was further “considering building a second car plant” in the United States, adding, “We
- Published in Ford, Volkswagen
White House presses German automakers to boost U.S. investments
President Donald Trump pressed senior executives of top German automakers to boost their investments in the United States as the White House thinks about imposing new tariffs on European-made vehicles. German automakers stated after the meeting they informed Trump they planned to increase U.S. investments, but cautioned they would not be able to do so
- Published in BMW, Daimler, Volkswagen
Last generation of combustion engines to be launched in 2026, says Volkswagen
Volkswagen‘s strategy chief stated on Tuesday the German automaker’s core brand is going to develop its final generation of vehicles utilizing combustion engine technology in 2026. Volkswagen made a strategy shift toward battery-driven vehicles following diesel-emissions cheating scandal in 2015, which forced the automaker to pay over 27 billion euros in fines. “In the year
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U.S. judge grants preliminary approval to $48 million Volkswagen investor settlement
A U.S. judge in California has okayed preliminary approval to a $48 million settlement for investors who stated Volkswagen AG made incorrect and misleading statements about its excess diesel emissions. Lawyers for the investors, who include police and other municipal pension funds, had calculated that the highest they could have recovered was $147 million. However
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Tesco, Volkswagen to develop electric vehicle charging network in UK
Britain’s biggest retailer Tesco and German automaker Volkswagen have teamed up to develop an electric vehicle charging network in the UK, companies stated on Friday. Under the partnership, Tesco and Volkswagen presented more than 2,400 electric vehicle charging bays throughout 600 Tesco stores in the next three years. Electric cars and other vehicles using alternative
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Volkswagen considering new North America factory for electric vehicles
Volkswagen is deciding where to establish a new factory in North America for making electric vehicles for the U.S. market, the German automaker’s new head for the Americas stated on Wednesday. Scott Keogh, the recently appointed CEO of Volkswagen Group of America, stated a new plant was required to build a vehicle yet to be
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German auto CEOs willing to attend White House meeting
The bosses of Volkswagen, BMW and Daimler are ready to join a meeting at the White House with the Trump administration, but have not yet received an official invitation, industry sources stated on Thursday. The Handelsblatt newspaper on Wednesday mentioned industry and diplomatic sources as stating the meeting could possibly take place as soon as
- Published in BMW, Daimler, Volkswagen
Volkswagen strikes deal with Broadcom to settle a patent lawsuit
Germany’s Volkswagen has struck a deal with U.S. semiconductor maker Broadcom to end a billion-dollar patent lawsuit that pitted the automaker against its provider, a source near to Volkswagen informed Reuters on Wednesday. The companies signed an out-of-court settlement, the source stated, including that a court hearing scheduled for Friday had now been canceled. Volkswagen
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Volkswagen embarks on $50 billion electrification strategies
Volkswagen expects to become the most profitable producer of electric cars due to a multi-billion euro expansion strategy to mass produce battery driven vehicles, CEO Herbert Diess stated on Friday. VW will invest almost 44 billion euros ($50 billion) on developing electric cars, autonomous driving and new mobility services by 2023 and discover more areas
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Volkswagen expects to be the most profitable electric automaker
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
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Volkswagen plans to sell electric Tesla rival for less than $23,000
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
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Volkswagen could build up to 50 million electric cars, says CEO
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
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