German automakers had call with Merkel about coronavirus crisis

German automakers

The heads of Volkswagen, BMW and Daimler held a crisis call with German Chancellor Angela Merkel on Wednesday to talk about how to get production restarted, Germany’s Handelsblatt newspaper reported. Automakers have stopped production at some sites as governments across the world have imposed lockdowns on their populations to stop the spread of coronavirus outbreak. […]

Volkswagen burning through $2.2 billion a week as coronavirus stops production

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Volkswagen may have to cut jobs if the coronavirus pandemic is not brought under control as the German automaker is still spending about 2 billion euros ($2.2 billion) a week, CEO Herbert Diess informed German TV channel ZDF. Diess informed the Markus Lanz talkshow that the German company, which hires 671,000 people globally, was not making any sales outside China […]

Volkswagen suspends production in Europe as coronavirus hits sales

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Volkswagen Group is suspending production at factories throughout Europe as the coronavirus pandemic hits sales and disrupts supply chains, the company stated. The German automaker, which owns brands such as Audi, Bentley, Bugatti, Ducati, Lamborghini, Porsche, Seat and Skoda, also stated that uncertainty about the fallout from the virus meant it was impossible to provide […]

Volkswagen to shut coal-fired power stations at the main plant in Germany

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Volkswagen is closing two coal-fired power stations at its major plant in Wolfsburg, Germany and has rejected offers to sell them to slash the company’s carbon dioxide emissions, CEO Herbert Diess said on Friday. “I have already declined offers from several interested parties who wanted to purchase our old Wolfsburg coal plants and rebuild them […]

Seat’s de Meo probably in talks with Renault, says Herbert Diess

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Herbert Diess, chief executive of Volkswagen, stated Luca de Meo, who stepped down as chief executive of the German automaker’s Spanish Seat brand this month, was probably in talks with French automaker Renault. The Italian-born de Meo was a chairman of Seat’s executive committee for four years, supervising a resurgence in the Barcelona-based company’s sales […]

Volkswagen faces same fate as Nokia without urgent reforms, says CEO

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Volkswagen needs to accelerate the reformation of its business to prevent itself from becoming another Nokia, which lost its market dominance in the handset to Apple, the German automaker’s CEO Herbert Diess said. The multi-brand automaker aims to raise its market value to 200 billion euros ($223.10 billion), from around 91 billion currently, by revamping […]

Former BMW executive Markus Duesmann tasked with reinventing Audi

Volkswagen on Friday selected former BMW executive Markus Duesmann to reinvent Audi as the German premium brand appears to have lost key engineering know-how and influence following the 2015 diesel-cheating scandal. Duesmann will become chief executive of Audi and together with that he will take on board level responsibility for research and development at Volkswagen […]

Volkswagen CEO, chairman to stay in office regardless of charges

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Volkswagen’s CEO and chairman will continue to stay in office, the company’s supervisory board stated on Wednesday, a day after German prosecutors brought charges against them for their role in a diesel emissions scandal. The automaker’s supervisory board has not found any evidence that CEO Herbert Diess and Chairman Hans Dieter Poetsch were really late […]