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 […]

VW wins worker support for restructuring with $1.1 billion battery plan

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Volkswagen workers supported a restructuring of Volkswagen on Tuesday after CEO Herbert Diess vowed to spend 1 billion euros ($1.1 billion) on a new battery cell production plant close to its headquarters in Lower Saxony. Diess requires the support of Volkswagen’s powerful unions as he tries to slim down and simplify the German company, that […]

German prosecutors investigate bonus payments to former VW manager

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German prosecutors are probing a possible breach of fiduciary duty by Volkswagen regarding bonus payments made to an executive who was suspended following automaker’s emissions cheating scandal. German automaker was caught using software made for evading emissions tests on diesel engines. Volkswagen has argued the software was the work of a handful of engineers who […]

Volkswagen pushes battery partners to construct Gigafactories

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Volkswagen is pushing its joint venture partners consisting of SK Innovation (SKI) to construct electric car battery plants which have at least one Gigawatt manufacturing capacity, CEO Herbert Diess informed Reuters. “Anything below that amount would make little sense,” Diess stated on the sidelines of the Shanghai Auto Show on Sunday. Volkswagen will purchase 50 […]