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 […]

German Car Production Declines to Two Decades Low on Waning Exports

Berlin Germany

German car production declined to its lowest in nearly a quarter of a century as Europe’s largest economy continues to have a hard time from the fallout of a worldwide trade war. Automakers including Volkswagen AG, BMW AG, and Daimler AG produced 4.66 million vehicles in German factories in 2019, the weakest since 1996. The country’s VDA car lobby, which […]

Volkswagen sees bids for MAN Energy Solutions unit

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Volkswagen has seen bids from Europe’s Innio, Japan’s Mitsubishi Heavy and U.S.-based Cummins for its MAN Energy Solutions, which makes diesel engines for ships and power generators, people knowledgeable with the matter stated. Innio, previously known as Jenbacher and owned by buyout group Advent, along with the two other bidders last week made bids for […]

Volkswagen to deepen alliances with battery suppliers

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Volkswagen is going to create joint ventures and help finance battery production to persuade skeptical cell providers to back its aggressive push for mass-producing electric vehicles, board member Stefan Sommer informed Reuters. VW has stated it will purchase 50 billion euros ($56.57 billion) worth of battery cells and has identified Sweden’s Northvolt, South Korea’s SKI, […]

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 […]

SK Innovation in talks to set up JVs with Volkswagen, and others

SK Innovation

SK Innovation is in talks to establish separate battery-making joint ventures with Volkswagen AG and Chinese partners, as the petrochemicals producer progressively expands its contributions in electric vehicles (EVs). The company verified talks with Germany’s Volkswagen for the first time, informing Reuters the pair were talking about building a factory together. It also stated it […]

Volkswagen can build up to 15 million cars using electric car platform

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Volkswagen on Friday stated it can build up to 15 million electric cars utilizing its new MEB vehicle platform, revealing the scope of the automaker’s push to mass produce zero-emission vehicles. Volkswagen is spending over 11 billion euros ($12.52 billion) into electric connected and autonomous vehicles by 2023, about 9 billion euros of this amount […]

White House presses German automakers to boost U.S. investments

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President Donald Trump pressed senior executives of top German automakers to boost their investments in the United States as the White House thinks about imposing new tariffs on European-made vehicles. German automakers stated after the meeting they informed Trump they planned to increase U.S. investments, but cautioned they would not be able to do so […]