CEO Diess enjoys full support from supervisory board, says Volkswagen

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Volkswagen on Thursday moved to turn down rumours that CEO Herbert Diess had been sidelined by issuing an unsolicited declaration of support, after clashes with the company’s labor leaders who resisted plans for deeper cuts. “The most important message is that the supervisory board and executive committee … are in complete agreement that our CEO […]

Volkswagen to move center of software development to Audi

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Volkswagen will move leadership for software development to the company’s premium Audi division located in Ingolstadt, Bavaria, Herbert Diess, CEO of the multi-brand group stated on Tuesday. “The center of gravity for software development will move from Wolfsburg to Ingolstadt,” Diess said during a virtual conference hosted by PWC in Germany on Tuesday. This week […]

Volkswagen to replace software division head as transition to electric cars continues

2019 Volkswagen Jetta GLI

Volkswagen is replacing its head of software development, German newspaper Handelsblatt reported on Sunday, as the German automaker continues its transition to electric vehicles. The newspaper said Christian Senger, a former BMW manager who operates the recently founded Car.Software.Org unit, was to be replaced after clashes with the company and concern at software problems with […]

Volkswagen CEO praises Musk’s SpaceX success to motivate top executives

Elon Musk

Volkswagen CEO Herbert Diess evoked the historic rocket launch by rival electric automaker Tesla’s CEO Elon Musk to motivate top executives at the automaker as they seek to overcome the auto industry’s biggest market decline in decades, people familiar with the matter said. Musk’s Space Exploration Technologies has become the first private company to launch humans into […]

Volkswagen thinking of more cost cuts to deal with crisis

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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 […]

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 […]