BMW expects a hit to revenues of up to half a billion euros ($579 million) in 2019 if tariffs between the United States and China stay in place, Chief Financial Officer Nicolas Peter informed Automobilwoche magazine. Tariffs between the United States and China have struck exports of sport-utility vehicles from its U.S. plant in Spartanburg,
Volkswagen brand chief Herbert Diess is going to head up a volume brands division which consists of responsibility for Skoda and Seat, two sources knowledgeable about the matter stated on Thursday. The recently created volume brand group will also consist VW’s commercial-vehicle division, one of the sources informed. “Diess will get immense power,” he stated.
Volkswagen’s premium brand Audi thinks of doubling sales in China during the coming six years, sales chief Bram Schot informed Automobilwoche. “In 2023 we want to sell 1.2 million cars in China,” the German trade magazine quoted Schot as saying. In 2017, Audi sold 597,000 vehicles in China, its biggest single market. The company last
U.S. EV battery company Solid Power stated it had partnered with Germany’s BMW AG to develop the next-generation solid-state battery innovation for use in electric cars (EVs). BMW will help in advancing Solid Power’s technology to achieve performance levels needed for high-performance EVs, Louisville, Colorado-based Solid Power stated. Financial terms of the deal were not