Court rejects second investor group action against VW and Porsche

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A German court on Wednesday stated it won’t permit a second investor group action against Volkswagen and Porsche, for allegedly failing to tell investors about the Diesel scandal in 2015. Investors have brought multiple cases against both automakers in the southern city of Stuttgart, arguing that the automakers should have issued adhoc-statements previously to inform […]

Amazon and Volkswagen agree on a strategic partnership

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German automaker Volkswagen and American technology company Amazon.com Inc have agreed on a strategic partnership to form a kind of “industry cloud”, for which the information will soon be announced, Germany’s Sueddeutsche newspaper reported on Wednesday. It cited unnamed sources at the automaker as saying Amazon would play a major role in helping the automaker […]

Volkswagen, Northvolt to work together for battery research

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Volkswagen and Swedish battery maker Northvolt and other companies along with science labs are going to work together in battery cell research, the German automaker stated on Thursday. Beginning in early 2020, the so-called European Battery Union (EBU) intends to accumulate know-how on battery cell production, consisting of research on raw materials, cell technology but […]

Volvo expects electric car margins to match conventional cars next decade

Volvo XC60

Volvo expects its margins on electric cars to find similarity with those of vehicles with combustion engines by 2025. Global automakers are preparing a $300 billion surge in spending on electric vehicle technology for the next five to one decade but have admitted that higher component expenses and limited take-up in initial years will impact […]

Volkswagen discusses battery cell subsidies scheme

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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 […]

U.S. SEC sues Volkswagen, ex-CEO over emissions scandal

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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 […]

Volkswagen can face U.S. SEC lawsuit concerning emissions cheating

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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 […]

Volkswagen expects software to make up 90 percent of auto industry innovation

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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 […]