German automaker Volkswagen and the project developer Permian Global have signed a Joint Development Agreement to create climate protection projects. Together with the support of Permian Global, the automaker will start developing climate protection projects to safeguard tropical forests in the second half of 2020. After successful verification, the avoided deforestation and restoration of endangered […]
Volkswagen
Volkswagen thinking of more cost cuts to deal with crisis
Volkswagen thinking about more cost cuts to help cope with the economic impact of the coronavirus, a spokesman for the automaker said on Saturday. The issue was discussed just recently at an internal event, the spokesman stated, when asked about a report in industry magazine Automobilwoche. “There were general deliberations about what additional cost measures […]
Volkswagen expands executive committee of supervisory board
German automaker Volkswagen AG stated on Friday that it had added two members to the executive committee of its supervisory board. The new members include Hans Michel Piech, who is indirectly the largest individual shareholder in the automaker, and Bertina Murkovic, chair of the works council at Volkswagen’s commercial vehicles business. The appointments expand the […]
Volkswagen resumes deliveries of Golf 8 after fixing a glitch
Volkswagen is restarting deliveries of its Golf 8 model after repairing a software glitch, a spokesman stated on Thursday. The German automaker stopped deliveries of the popular model last month after finding the problem in the software, which allowed emergency calls, a function required by E.U. regulations since 2018. Union officials had criticized the defect […]
Volkswagen to install Porsche’s CEO as Volkswagen brand chief
Volkswagen CEO Herbert Diess will promote Porsche CEO Oliver Blume to become head of the Volkswagen brand as part of a broader management reshuffle, Auto Motor und Sport stated on Tuesday citing company sources. Blume will be shifted to the VW brand to help the automaker find a grip on production issues with the VW […]
Volkswagen closes $2.6 billion investment in Argo AI
Volkswagen has closed its $2.6 billion investment in self-driving startup Argo AI, who is based on Pittsburgh. The automaker disclosed in a blog post on Tuesday. Argo, established in 2016 by Bryan Salesky and Peter Rander, is now jointly controlled by Volkswagen and Ford Motor, which made an initial investment in Argo after it was […]
U.S. court declines to shield Volkswagen in diesel scandal lawsuits
A U.S. appeals court ruled on Monday that German automaker Volkswagen AG cannot escape possible financial penalties from two counties in Florida and Utah that may amount to a “staggering” extra liability arising from the automaker’s diesel emissions scandal. The unanimous ruling made by a three-judge panel of the 9th U.S. Circuit Court of Appeals, […]
Volkswagen ready to resume Mexico operations on June 15
The Mexican unit of Germany’s Volkswagen AG stated on Monday the automaker was ready to resume operations in the states of Puebla and Guanajuato on June 15 after activity was idled in late March because of the spread of the coronavirus pandemic. The government and automakers had enforced shutdowns of factories to control the spread […]
Volkswagen will have full control of JAC-VW Chinese venture
German automaker Volkswagen is going to have full management control of its JAC-VW joint venture, the company’s China CEO stated on Friday. Stephan Wollenstein informed a media briefing that production of electric vehicles based on the MEB platform will begin at the JAC-VW venture in 2023. Volkswagen on Friday stated it had agreed to spend […]
Volkswagen board officially agrees with Ford alliance projects
Volkswagen stated on Thursday its supervisory board had accepted several projects in a multibillion-dollar alliance with Ford Motor that was first declared last July. The German automaker said various contracts between the two automakers were nearing completion and would be signed soon. Among the shared projects specified by Volkswagen include a midsize pickup to be […]
IG Metall alleges Volkswagen’s management of putting jobs at risks
Germany’s biggest labor union IG Metall has criticized Volkswagen on Thursday for a recent advert deemed racist and other “errors”, over management which had damaged the automaker’s reputation and put jobs at risk. The IG Metall union, in an open letter to the automaker’s management and supervisory boards, stated it was shocked by the advert […]
Volkswagen in final talks to seal biggest M&A deals in China electric vehicle sector
German automaker Volkswagen AG is in final talks to seal its largest investment deals with Chinese electric vehicle companies, two sources said, as the German automaker speeds up its push into the world’s largest auto market for eco-friendlier cars. The firm is poised to purchase 50% of Anhui Jianghuai Automobile Group Holding, the parent of […]
Volkswagen Mexico won’t talk of resuming the plant while state decree in place
German automaker Volkswagen stated on Monday it had fulfilled federal requirements to restart production in Mexico but would not make declarations about renewing operations as long as a decree in the state of Puebla remains in effect. The government of Puebla, where the automaker and its luxury brand unit Audi have major plants, stated on […]
German court backs damages claims against Volkswagen
Volkswagen should pay compensation to owners of vehicles with rigged diesel engines in Germany, a court ruled on Monday, pushing a fresh blow to the automaker nearly five years after its emissions scandal emerged. The ruling by Germany’s highest court for civil disputes, which will allow owners to return vehicles for a partial refund of […]
German court ends diesel case against Volkswagen CEO and Chairman
A German court stated on Wednesday it was putting the proceedings against the chairman and chief executive of Volkswagen AG to an end after the automaker agreed to pay a fine of 9 million euros ($9.9 million) with concerns about the diesel emissions scandal. CEO Herbert Diess and non-executive Chairman Hans Dieter Poetsch were alleged […]
