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Landmark Cars zooms on incorporating wholly owned subsidiary Landmark Cars is currently trading at Rs. 788.00, up by 62.85 points or 8.67% from its previous closing of Rs. 725.15 on the BSE. The scrip opened at Rs. 753.00 and has touched a high and low of Rs. 790.00 and Rs. 753.00 respectively. So far 41203 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 805.15 on 10-Jul-2023 and a 52 week low of Rs. 433.20 on 26-Dec-2022. Last one week high and low of the scrip stood at ...
Landmark Cars zooms on incorporating wholly owned subsidiary
Landmark Cars zooms on incorporating wholly owned subsidiary
Source: Accord Fintech
8/09/2023 1:54:17 PM
Volkswagen in 'advanced talks` with Mahindra on MEB platform Volkswagen said on Monday that it is in advanced talks with India's Mahindra & Mahindra on the use of key electric components of the German carmaker's open platform for electric vehicles, called MEB. Mahindra wants to use central MEB components such as the e-drive and unit cells for its models, said Volkswagen in a statement. Volkswagen has developed a modular, open vehicle platform for EVs, called MEB, which is used to build to its own cars and those of other group companie...
Volkswagen in 'advanced talks` with Mahindra on MEB platform
Volkswagen in 'advanced talks` with Mahindra on MEB platform
Source: Reuters
4/09/2023 12:57:11 PM
Volkswagen India announces its annual `monsoon campaign` offering peace of mind ownership experience Volkswagen Passenger Cars India today announced its annual ‘Monsoon Campaign’ car care service initiative for its customers across the 120 service touchpoints in India. The month-long campaign starting 1st July 2023 will offer a comprehensive service for customers. Under the Monsoon Campaign initiative, customers can avail a complimentary 40-point check-up by trained professionals that examines the vehicle for any existing or possible maintenance and repair services to avoid a...
Volkswagen India announces its annual `monsoon campaign` offering peace of mind ownership experience
Volkswagen India announces its annual `monsoon campaign` offering peace of mind ownership experience
Source: PR Agency
7/07/2023 5:29:48 PM
Maruti Suzuki goes upmarket in India with new seven seater  Maruti Suzuki, India's biggest automaker, is looking to break into the premium car segment with its new seven seater, as a growing number of buyers opt for bigger, feature-packed cars. Maruti, known for small and compact cars that are mostly priced below 1 million rupees ($12,000), on Wednesday launched the Invicto people mover starting from around 2.5 million rupees ($30,000). The company aims to raise its brand image and enter a segment where it sees rapid growth as the purc...
Maruti Suzuki goes upmarket in India with new seven seater
Maruti Suzuki goes upmarket in India with new seven seater
Source: Reuters
5/07/2023 5:23:20 PM
Volkswagen India announces prices across the new variants and the GT Edge Limited Collection on Taigun and Virtus Greetings from Volkswagen Passenger Cars India! Volkswagen Passenger Cars India today announced the market introduction of its new variants on the India 2.0 carlines – Taigun & Virtus, along with exclusive online bookings for the marquee GT Edge Limited Collection via the Volkswagen India website. The GT Edge carlines will be manufactured basis customer bookings (via the Volkswagen India website) and deliveries will begin July 2023 onward.   Volkswagen India is ma...
Volkswagen India announces prices across the new variants and the GT Edge Limited Collection on Taigun and Virtus
Volkswagen India announces prices across the new variants and the GT Edge Limited Collection on Taigun and Virtus
Source: PR Agency
9/06/2023 5:47:48 PM
Tesla Model Y becomes 1st EV to earn world's best-selling car tag Tesla Model Y has become the first all-electric vehicle to be billed as the world's bestselling car, a report has shown. Tesla Model Y surpassed Toyota's RAV4 and Corolla models to top global sales rankings in the first quarter of 2023, according to data from Jato Dynamics. The 2023 Model Y starts at $47,490, considerably more than the 2023 Corolla ($21,550) and RAV4 ($27,575), reports The Verge. Tesla Model Y sold 267,200 units globally in the first quarter this year, compar...
Tesla Model Y becomes 1st EV to earn world's best-selling car tag
Tesla Model Y becomes 1st EV to earn world's best-selling car tag
Source: IANS
27/05/2023 11:29:59 AM
Invest in Our Planet: Skoda Auto Volkswagen India generates 3800+ pledges in line with the theme of Earth Day 2023 The leadership team drives sustainability focus and reaffirms commitment to achieve Carbon neutrality by 2050  On Earth Day 2023, Škoda Auto Volkswagen India Private Limited (SAVWIPL) generated over 3800+ pledges for environmental sustainability, in a special event that was attended by officials from MOEFCC (Ministry of Environment, Forest and Climate Change), Management team from CII-CESD (CII Centre of Excellence on Sustainable Development), dealer fraternity, supplier chain ...
Invest in Our Planet: Skoda Auto Volkswagen India generates 3800+ pledges in line with the theme of Earth Day 2023
Invest in Our Planet: Skoda Auto Volkswagen India generates 3800+ pledges in line with the theme of Earth Day 2023
Source: PR Agency
26/04/2023 3:19:05 PM
Volkswagen India democratizes its Performance line, introduces new variants on the Taigun & Virtus Democratizing the Performance line, Volkswagen India makes the GT badge accessible for customers Volkswagen India introduces much in demand manual transmission on the top of the line Virtus GT Plus that is powered by the 1.5l TSI EVO engine Introduces 2 New variants of the Volkswagen Taigun : GT Plus MT and GT DSG New exterior body colour ‘Lava Blue’ launched on the Virtus and Taigun across all variants Launches its marquee ...
Volkswagen India democratizes its Performance line, introduces new variants on the Taigun & Virtus
Volkswagen India democratizes its Performance line, introduces new variants on the Taigun & Virtus
Source: PR Agency
18/04/2023 4:58:58 PM
Volkswagen Virtus scores best-ever test result in GNCAP history, awarded 5-star safety rating Mumbai: Volkswagen Passenger CarsIndia today announced five-star crash test results for the Virtus under the updated and more stringent Global NCAP testing protocols. The carline has received this safety rating for both adult- and child-occupant protection. The Volkswagen Virtus is now among a handful of cars in India to score a full five-star safety rating for both adult-and child-occupants under GNCAP’s updated crash test protocols.It now proudly joins the Volkswagen Taigunw...
Volkswagen Virtus scores best-ever test result in GNCAP history, awarded 5-star safety rating
Volkswagen Virtus scores best-ever test result in GNCAP history, awarded 5-star safety rating
Source: PR Agency
5/04/2023 6:44:05 PM
`Volkswagen recalls 21K electric SUVs over faulty battery software`  German automaker Volkswagen has recalled nearly 21,000 of its 'ID.4' electric SUVs over faulty battery software that could lead to a "loss of propulsion" sans warning. A reset or deactivation may cause a loss of drive power, increasing the risk of a crash in the recalled EVs. The recall affects 2021 models produced between May 26, 2020, and January 20, 2022. According to an advisory by the National Highway Traffic Safety Administration (NHTSA) in the US, Volks...
`Volkswagen recalls 21K electric SUVs over faulty battery software`
`Volkswagen recalls 21K electric SUVs over faulty battery software`
Source: IANS
8/02/2023 11:44:10 AM
Indian operations to play key role in Skoda Auto`s entry into Vietnam India is emerging as a key manufacturing hub for the Skoda Group that will venture into the Vietnamese market, the Skoda Auto Volkswagen India Private Ltd said on Wednesday. "India will play a key role in Skoda Auto's entry into the Vietnamese market. Assembly of the Made-in-India Skoda Kushaq and Slavia model will begin in Vietnam in 2024," the company said on Wednesday. Close to 25 per cent of suppliers now also export to the Group globally. Exports remain a fundamental ...
Indian operations to play key role in Skoda Auto`s entry into Vietnam
Indian operations to play key role in Skoda Auto`s entry into Vietnam
Source: IANS
4/01/2023 1:39:30 PM
Landmark Cars lists with 6.86% discount on the BSE Landmark Cars has debuted at Rs 471.30 on the BSE, down by 34.70 points or 6.86% from its issue price of Rs 506. The scrip is currently trading at Rs 467.50, down by 38.50 points or 7.61% from its issue price. It has touched a high and low of Rs 473.25 and Rs 446.45 respectively. So far 1.14 lakh shares were traded on the counter. The offering, which was open for subscription between December 13, 2022 and December 15, 2022 was subscribed 3.06 times. The issue price was fixed at Rs 506 p...
Landmark Cars lists with 6.86% discount on the BSE
Landmark Cars lists with 6.86% discount on the BSE
Source: Accord Fintech
23/12/2022 12:15:03 PM
Indian luxury car dealer Landmark IPO oversubscribed by threefold shares on offer Indian luxury automobiles dealer Landmark Cars Ltd's initial public offering, valued at 5.52 billion rupees ($66.71 million), was oversubscribed on Thursday, but analysts still said demand was tepid. Investors bid for 24.6 million shares by the final day of bidding, 3.1 times the 8 million shares on offer, exchange data showed. The company had an offer for sale valued at 4.02 billion rupees and a fresh issue valued at 1.5 billion rupees. It proposes to use the amount raised from fre...
Indian luxury car dealer Landmark IPO oversubscribed by threefold shares on offer
Indian luxury car dealer Landmark IPO oversubscribed by threefold shares on offer
Source: Reuters
16/12/2022 9:37:18 AM
Automakers to double spending on EVs, batteries to $1.2 trillion by 2030 The world's top automakers are planning to spend nearly $1.2 trillion through 2030 to develop and produce millions of electric vehicles, along with the batteries and raw materials to support that production, according to a Reuters analysis of public data and projections released by those companies. The EV investment figure, which has not previously been published, dwarfs previous investment estimates by Reuters and is more than twice the most recent calculation published just a year ag...
Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
Source: Reuters
26/10/2022 9:47:45 AM
5G-ready car sales cross 500K first time ever globally The connected car penetration surpassed that of non-connected cars for the first time ever globally, capturing almost 50.5 per cent share in the second quarter (Q2) this year. 5G-ready car sales surpassed half a million, though 4G accounted for 90 per cent of connected car sales. According to Counterpoint Research, the US overtook China to lead the global connected car market and the top five automakers were Volkswagen, Toyota, GM, Stellantis and Hyundai. The US, China and Europe acc...
5G-ready car sales cross 500K first time ever globally
5G-ready car sales cross 500K first time ever globally
Source: IANS
7/10/2022 3:51:53 PM
The long, winding road to Volkswagen`s Porsche IPO Shares in Volkswagen's sportscar brand Porsche started trading on Thursday in what marks Germany's second-largest listing ever as well as a new phase in a sometimes fraught relationship between the two auto brands that goes back decades. 1931 Ferdinand Porsche opens a design office, the first stage of a business that will later become the eponymous sports car maker. 1938 Porsche, who designed the first VW Beetle, oversees the building of the first production hall for Volks...
The long, winding road to Volkswagen`s Porsche IPO
The long, winding road to Volkswagen`s Porsche IPO
Source: Reuters
29/09/2022 4:08:30 PM
Porsche valued at up to $75bn in share sale  German car making giant Volkswagen (VW) has said it is aiming for a valuation of up to 75 billion euro ($75 billion) for Porsche when the luxury brand is floated on the stock market, media reports said. Trading in the shares is due to start in Frankfurt on September 29, BBC reported. A prospectus will be published on Monday, after which investors can subscribe to Porsche shares. The share sale is set to be Germany's second-largest ever initial public offering (IPO), the report...
Porsche valued at up to $75bn in share sale
Porsche valued at up to $75bn in share sale
Source: IANS
20/09/2022 9:41:57 AM
Heartfulness And Volkswagen Group Technology Solutions India Come Together for AGreen Initiative Gurugram: VolkswagenGroup Technology Solutions India (VWITS)joined hands with Heartfulness to inaugurate a mini greenery hubat Heartfulness Meditation Centre in Gurugram. The initiative comes as one of the many CSR initiatives of VWITS, this one involving raising a green hub and protecting and propagating endangered plant species with the help of Heartfulness. Over 60attendees including the leadership team from VWITS and Heartfulness were present at the occasion. Earlier too, Heartfulness hel...
Heartfulness And Volkswagen Group Technology Solutions India Come Together for AGreen Initiative
Heartfulness And Volkswagen Group Technology Solutions India Come Together for AGreen Initiative
Source: PR Agency
26/08/2022 2:25:15 PM
Volkswagen confirms outlook as operating profits tumble in Q2 The Volkswagen Group saw a 27.7% fall in operating profit before special items to 4.7 billion euros ($4.79 billion) in the second quarter, the carmaker reported on Thursday, as negative valuation effects from commodity hedging transactions weighed on results. Revenue rose 3.3% in the second quarter from last year to 69.5 billion euros, it said. Still, the carmaker confirmed its outlook for the full year as first-half results were overall strong, it said, buoyed by higher profits in the ...
Volkswagen confirms outlook as operating profits tumble in Q2
Volkswagen confirms outlook as operating profits tumble in Q2
Source: Reuters
28/07/2022 11:35:37 AM
Scott Keogh named CEO of VW`s electric truck, SUV spin-off `Scout`  German automaker Volkswagen (VW) has named Scott Keogh as the new CEO to lead its electric truck and SUV spin-off company -- Scout. According to The Verge, the former head of Volkswagen Group America pushed for Volkswagen to start a new electric truck line after seeing a fully restored vintage Scout. Volkswagen acquired the Scout brand through a 2020 merger of its commercial trucking company Traton with Navistar, which the German automaker initially bought part of in 2016. In May,...
Scott Keogh named CEO of VW`s electric truck, SUV spin-off `Scout`
Scott Keogh named CEO of VW`s electric truck, SUV spin-off `Scout`
Source: IANS
20/07/2022 1:50:27 PM
Volkswagen to invest over $20 bn to build Electric Vehicle batteries German automaker Volkswagen will invest $20.38 billion to build electric vehicle (EV) batteries, creating 20,000 jobs and generating more than $20 billion in annual sales. Volkswagen broke the ground for its first cell factory in Salzgitter, Germany in the presence of German Chancellor Olaf Scholz late on Thursday. The automaker will create a new company called Power Co under CEO Frank Blome and the production at the plant will start in 2025. "Volkswagen is showing how the futur...
Volkswagen to invest over $20 bn to build Electric Vehicle batteries
Volkswagen to invest over $20 bn to build Electric Vehicle batteries
Source: IANS
8/07/2022 11:36:28 AM
SKODA AUTO Volkswagen India trains Mechatronics professionals * Mechatronics is a full-term job oriented apprentice training program that follows the German Dual System of Vocational Education/NCVT & Optional Trade * Application for the 11th edition of Mechatronics begins * The Mechatronics apprentice training program is scheduled to commence on 19 August, 2022 * So far SAVWIPL has trained over 128 Mechatronics professionals in India Pune : ŠKODA AUTO Volkswagen India Private Limited (SAVWIPL), which manag...
SKODA AUTO Volkswagen India trains Mechatronics professionals
SKODA AUTO Volkswagen India trains Mechatronics professionals
Source: PR Agency
30/06/2022 4:37:26 PM
Volkswagen chief says they will beat Tesla by 2025 Herbert Diess, the current chairman of the board of management of the German motor vehicle manufacturer Volkswagen Group, has said that the carmaker will take the lead over Elon Musk's Tesla by 2025. During a meeting at the company's headquarters in Germany, Diess said that Tesla will lose its strength trying to ramp up two gigafactories -- one in Austin, Texas and the other in Grunheide, Germany, reports the Daily Mail. He sees this as an opportunity to take the lead, as Volksw...
Volkswagen chief says they will beat Tesla by 2025
Volkswagen chief says they will beat Tesla by 2025
Source: IANS
30/06/2022 10:04:12 AM
Strong competition coming Tesla way with budget segment electric cars Within a couple of years, Tesla will face strong competition from traditional automakers like Volkswagen, Toyota and Stellantis, which released their ambitious vehicle electrification plans last year, a new report said on Monday. Though it will be difficult for them to overtake Tesla sales any time soon, Tesla will witness a reduction in its share across major markets, according to Counterpoint Research. "The reason behind this is the price band in which Tesla operates. It mostly o...
Strong competition coming Tesla way with budget segment electric cars
Strong competition coming Tesla way with budget segment electric cars
Source: IANS
26/04/2022 9:25:26 AM
Key News - Volkswagen, Indian Oil Corp, NFDC, Netflix, Shipping Corp, Bombay High Court By ARETE Securities KeyNews Volkswagen unveils new mid-sized sedan Virtus in India; launch in May German auto major Volkswagen on Tuesday unveiled new mid-sized sedan 'Virtus' for the Indian market. The company has commenced pre-bookings for the new model which competes with the likes of Honda City, Hyundai Verna, Maruti Suzuki Ciaz and Skoda Slavia. Volkswagen plans to launch the model in the later part of May this year. The Virtus carries the global sedan lineage of the Volkswagen brand, selling ove...
Key News - Volkswagen, Indian Oil Corp, NFDC, Netflix, Shipping Corp, Bombay High Court By ARETE Securities
Key News - Volkswagen, Indian Oil Corp, NFDC, Netflix, Shipping Corp, Bombay High Court By ARETE Securities
Source: ARETE Securities Ltd
9/03/2022 10:15:28 AM
Toyota remains world's biggest car seller, widens lead on VW TOKYO  - Japan's Toyota Motor Co said on Friday its vehicle sales rose by 10.1% last year, making it the world's biggest carmaker for a second straight year and putting it further ahead of its nearest rival, Germany's Volkswagen AG. The carmaker said sales were 10.5 million vehicles in 2021, including those by affiliates Daihatsu Motors and Hino Motors. That compares with 8.9 million https://www.reuters.com/business/autos-transportation/volkswagen-sees-81-sales-drop-202...
Toyota remains world's biggest car seller, widens lead on VW
Toyota remains world's biggest car seller, widens lead on VW
Source: Reuters
28/01/2022 1:23:48 PM
Key News - Urban Company, Realme, Lupin Ltd, Volkswagen, Vedanta Ltd, Zydus Cadila Healthcare Ltd By ARETE Securities Key News Urban Company's valuation rises to $2.8 billion in 4th ESOP sale programme Home services marketplace Urban Company’s valuation has jumped 33 per cent in the past six months to $2.8 billion, thanks to its recently concluded fourth and largest employee stock ownership plan (ESOP) sale programme of $7.3 million (Rs 55 crore). The ESOPs sold in this transaction have largely been purchased by existing institutional investors of the company. The company’s valuation wa...
Key News - Urban Company, Realme, Lupin Ltd, Volkswagen, Vedanta Ltd, Zydus Cadila Healthcare Ltd By ARETE Securities
Key News - Urban Company, Realme, Lupin Ltd, Volkswagen, Vedanta Ltd, Zydus Cadila Healthcare Ltd By ARETE Securities
Source: ARETE Securities Ltd
13/12/2021 10:49:35 AM
Tesla's Musk dials into Volkswagen executive conference FRANKFURT - Tesla boss Elon Musk has addressed 200 Volkswagen executives via a video call after an invitation from the German carmaker's CEO Herbert Diess, who wants to galvanise VW's top brass for a faster pivot to electric vehicles. The comments on Thursday by Musk to a VW managers gathering in Alpbach, Austria, confirmed by Diess via Twitter https://twitter.com/Herbert_Diess/status/1449333401048293378 on Saturday after a report in Handelsblatt daily, included praise of VW f...
Tesla's Musk dials into Volkswagen executive conference
Tesla's Musk dials into Volkswagen executive conference
Source: Reuters
17/10/2021 10:25:03 AM
Volkswagen CEO: smart cars, not e-cars, are 'gamechanger' MUNICH - Volkswagen head Herbert Diess on Sunday said autonomous cars, not electric vehicles, were the "real gamechanger" for the auto industry, which is facing the end of combustion engines in Europe by 2035. Diess' comments signal the pace at which the 62-year old tries to transform Europe's largest carmaker by basically saying that the shift towards battery-powered electric vehicles (EV), which still needs to be backed up by actual sales, was sealed. "Auto...
Volkswagen CEO: smart cars, not e-cars, are 'gamechanger'
Volkswagen CEO: smart cars, not e-cars, are 'gamechanger'
Source: Reuters
6/09/2021 9:49:30 AM
Volkswagen hands CEO Diess contract extension ahead of strategy presentation FRANKFURT -Volkswagen on Friday handed Chief Executive Herbert Diess a contract extension under which he will lead the carmaker until October 2025, the group said, a victory made possible by the recent departure of works council head Bernd Osterloh. Reuters reported on Thursday that Volkswagen's supervisory board was discussing a two-year extension to Diess' contract, which would have expired in 2023, after two attempts last year failed over ongoing resistance by labour repres...
Volkswagen hands CEO Diess contract extension ahead of strategy presentation
Volkswagen hands CEO Diess contract extension ahead of strategy presentation
Source: Reuters
10/07/2021 9:34:56 AM
Volkswagen chairman to seek re-election at shareholder meeting BERLIN - Volkswagen Chairman Hans Dieter Poetsch will seek re-election at a coming annual general meeting, the carmaker said on Saturday. Poetsch, 70, became chairman of the supervisory board in 2015, weeks after the start of the diesel emissions scandal - in which Volkswagen in 2015 acknowledged using illegal software to rig diesel engine tests in the United States - and was instrumental in averting a leadership crisis at Europe's largest carmaker late last year. A spokesperson sai...
Volkswagen chairman to seek re-election at shareholder meeting
Volkswagen chairman to seek re-election at shareholder meeting
Source: Reuters
6/06/2021 10:27:28 AM
Premium cars lift Volkswagen`s margins despite chip woes FRANKFURT- Volkswagen raised its operating margin target for this year after strong demand for profitable Audis and Porsches in the first quarter, but warned it remained in "crisis mode" over a global shortage of semiconductor chips. Europe's biggest carmaker said on Thursday it now expected an operating profit margin of 5.5-7% this year, versus a previous forecast of 5.0-6.5%, with vehicle deliveries and sales both up by more than a fifth. The better guidance is mainly dr...
Premium cars lift Volkswagen`s margins despite chip woes
Premium cars lift Volkswagen`s margins despite chip woes
Source: Reuters
6/05/2021 3:18:23 PM
Volkswagen expects chip supply to remain tight in coming months FRANKFURT  Volkswagen expects semiconductor supplies to the car sector to remain tight in coming months, the head of the carmaker's namesake brand was quoted as saying on Saturday. "I think the situation will remain tense," Ralf Brandstaetter, CEO of the Volkswagen brand and member of the carmaker's management board, told German news agency dpa. He said a fire at a factory operated by automotive chip maker Renesas Electronics Corp, as well as snowstorms in Texas t...
Volkswagen expects chip supply to remain tight in coming months
Volkswagen expects chip supply to remain tight in coming months
Source: Reuters
1/05/2021 5:51:33 PM
Volkswagen`s CEO to step aside at Skoda, Seat - Source BERLIN  - Volkswagen boss Herbert Diess is stepping down as head of the supervisory boards at subsidiaries Seat and Skoda to focus on building up a stronger software-development team, a person familiar with the matter said on Thursday. Volkswagen declined to comment. Handelsblatt had reported the news earlier. At Seat, Diess would be succeeded by current technology head Thomas Schmall and at Skoda by Murat Aksel, head of procurement on the Volkswagen board, the source added. ...
Volkswagen`s CEO to step aside at Skoda, Seat - Source
Volkswagen`s CEO to step aside at Skoda, Seat - Source
Source: Reuters
30/04/2021 11:31:58 AM
Exclusive: Volkswagen mulls board change that could see labour chief move on - Sources HAMBURG  - Volkswagen is considering a change to its supervisory board that could lead to the replacement of Bernd Osterloh, the head of its powerful works council who clashed with CEO Herbert Diess last year, sources familiar with the matter said on Thursday. Osterloh's departure, if confirmed, could weaken resistance to faster and more drastic restructuring at the German carmaker. Last year, the 64-year-old opposed an attempt by Diess to extend his contract as the CEO strives...
Exclusive: Volkswagen mulls board change that could see labour chief move on - Sources
Exclusive: Volkswagen mulls board change that could see labour chief move on - Sources
Source: Reuters
23/04/2021 9:13:23 AM
Volkswagen, IG Metall strike wage deal BERLIN - Europe's largest carmaker Volkswagen has agreed a wage deal for its staff with trade union IG Metall, a spokesman told Reuters on Tuesday. Details of the agreement will be unveiled at a news conference IG Metall, Germany's most powerful union, has scheduled for 1000 CET. The agreement covers about 120,000 Volkswagen employees. IG Metall had asked for a wage increase of 4% and last month dismissed Volkswagen's most recent offer of a 250 euros payment for the first ha...
Volkswagen, IG Metall strike wage deal
Volkswagen, IG Metall strike wage deal
Source: Reuters
13/04/2021 12:33:08 PM
South Korean battery makers agree last-minute deal in boost to Biden`s EV policy WASHINGTON - South Korean battery makers LG Chem and rival SK Innovation Co have agreed to settle a trade secrets dispute that has threatened a key Georgia plant and the electric vehicle plans of Ford Motor Co and Volkswagen AG, three sources briefed on the matter said. The Biden administration through the U.S. Trade Representative's Office (USTR) faced a Sunday night deadline on whether to take the rare step of reversing a U.S. International Trade Commission decision unless the compan...
South Korean battery makers agree last-minute deal in boost to Biden`s EV policy
South Korean battery makers agree last-minute deal in boost to Biden`s EV policy
Source: Reuters
11/04/2021 9:34:22 AM
Exclusive: Volkswagen to buy credits from Tesla in China to comply with environmental rules - Sources BEIJING - A Volkswagen joint venture in China has agreed to buy green car credits from Tesla to help meet local environmental rules, three people briefed on the matter told Reuters. The deal, the first of its kind to be reported between the two companies in China, highlights the scale of the task Volkswagen faces in transforming its huge petrol carmaking business into a leader in electric vehicles to rival Tesla. Shares in Volkswagen, the world's second-biggest automaker, have soare...
Exclusive: Volkswagen to buy credits from Tesla in China to comply with environmental rules - Sources
Exclusive: Volkswagen to buy credits from Tesla in China to comply with environmental rules - Sources
Source: Reuters
2/04/2021 10:22:25 AM
Volkswagen pulls name-change stunt after it backfires on social media WASHINGTON - Volkswagen AG's U.S. unit apologized on Wednesday after a false statement it issued about a name change was widely slammed on social media. The company acknowledged that the false announcement - claiming it would rename its U.S. operations as 'Voltswagen of America' - had "upset some people and we are sorry about any confusion this has caused." The stunt, which came just ahead of April Fool's Day on the first of the month, when companies often rele...
Volkswagen pulls name-change stunt after it backfires on social media
Volkswagen pulls name-change stunt after it backfires on social media
Source: Reuters
1/04/2021 10:38:38 AM
VW`s Skoda aims for 2021 rebound, plans electric car investments PRAGUE - Czech carmaker Skoda Auto, part of the Volkswagen Group, said on Wednesday it would invest around 2.5 billion euros over the next five years on future technologies, with more than half going to electric vehicle investment. The Czech Republic's largest exporter is hoping for a rebound in 2021 from a global car sales drop but faces uncertainty over the coronavirus pandemic and a semiconductor shortage rattling the industry. "This year is likely to be another big challeng...
VW`s Skoda aims for 2021 rebound, plans electric car investments
VW`s Skoda aims for 2021 rebound, plans electric car investments
Source: Reuters
24/03/2021 5:15:07 PM
EV frenzy over Volkswagen shares draws regulator`s attention An outsized rally in Volkswagen shares has drawn the attention of Germany's top market watchdog as heavy-volume trading spurred by the carmaker' electric vehicle ambitions sent the stock rising as much as 32% this week. Shares in Volkswagen AG reversed course on Thursday, however, after hitting their highest level since April 2015 as regulator BaFin said it was monitoring the share price move and a buying frenzy from the United States appeared to cool down. A spokeswoman said Ba...
EV frenzy over Volkswagen shares draws regulator`s attention
EV frenzy over Volkswagen shares draws regulator`s attention
Source: Reuters
19/03/2021 9:39:24 AM
Volkswagen looks to electric vehicles, cost cuts for profit recovery FRANKFURT- Volkswagen is confident that cost cuts will help it raise profit margins in the coming years, the world's second-largest carmaker said on Tuesday, a day after outlining an ambitious electric mobility expansion. "Our good performance in 2020, a year dominated by crisis, will give us momentum for accelerating our transformation," Chief Executive Herbert Diess said in a statement. Volkswagen aims to more than double deliveries of electric vehicles to 1 million this...
Volkswagen looks to electric vehicles, cost cuts for profit recovery
Volkswagen looks to electric vehicles, cost cuts for profit recovery
Source: Reuters
16/03/2021 2:20:32 PM
Volkswagen to switch EV battery type, leaving supply deals in doubt - sources SEOUL - Volkswagen plans to gradually switch the type of battery used in its electric vehicles, three sources with knowledge of the matter said on Monday, leaving its supply deals with LG Energy Solution and SK Innovation in doubt. The automaker's plan comes at a time when two major South Korea battery makers that manufacture the current pouch-type batteries for Volkswagen, LG Energy Solution and SK Innovation, have been locked in a legal battle in the United States over allegations of...
Volkswagen to switch EV battery type, leaving supply deals in doubt - sources
Volkswagen to switch EV battery type, leaving supply deals in doubt - sources
Source: Reuters
15/03/2021 4:33:12 PM
Volkswagen hikes battery cell demand in aggressive EV expansion FRANKFURT - Volkswagen requires about 300 gigawatt hours (GWh) worth of battery cells a year by the end of the decade for its ambitious roll out of electric vehicles in Europe, two people familiar with the matter told Reuters. The supply chain update is part of the world's second-largest carmaker's strategy to raise the share of fully electric vehicles in Europe to more than 70% by 2030 at its core brand, details of which were unveiled last week. So far, Volkswagen, which source...
Volkswagen hikes battery cell demand in aggressive EV expansion
Volkswagen hikes battery cell demand in aggressive EV expansion
Source: Reuters
11/03/2021 10:41:41 AM
Volkswagen`s Porsche AG to raise stake in Croatia`s Rimac to 24% FRANKFURT - Volkswagen's luxury division Porsche AG has agreed to raise its stake in Rimac Automobili to 24%, the companies said on Monday, in a deal that values the Croatian electric hypercar maker at 795 million euros ($947 million). Porsche AG first bought a 10% stake in Rimac in 2018, raising it to more than 15% a year later. Under the latest deal, it is buying a further 8.8% for 70 million euros. "Rimac is excellently positioned in prototype solutions and small s...
Volkswagen`s Porsche AG to raise stake in Croatia`s Rimac to 24%
Volkswagen`s Porsche AG to raise stake in Croatia`s Rimac to 24%
Source: Reuters
9/03/2021 11:15:57 AM
Volkswagen taps Microsoft's cloud to develop self-driving software Source Volkswagen AG on Thursday said it will use Microsoft Corp's cloud computing services to help it streamline its software development efforts for self-driving cars. Volkswagen, which owns brands such as Audi and Porsche, is working on both self-driving cars for the future and driver-assistance features such as adaptive cruise control in current vehicles. But the company's brand had been developing those features independently. Last year, Volkswagen consolidated some of those devel...
Volkswagen taps Microsoft's cloud to develop self-driving software Source
Volkswagen taps Microsoft's cloud to develop self-driving software Source
Source: Reuters
11/02/2021 11:43:02 AM
Volkswagen looks to claim damages from suppliers over chip shortages BERLIN - German car manufacturer Volkswagen is in talks with its main suppliers about possible claims for damages due to a shortage of semiconductors, a company spokesman said on Sunday. Automakers around the world are shutting assembly lines due to problems in the delivery of semiconductors, which in some cases have been exacerbated by the former Trump administration's actions against key Chinese chip factories. The shortage has affected Volkswagen, Ford Motor Co, Subaru Corp, Toyo...
Volkswagen looks to claim damages from suppliers over chip shortages
Volkswagen looks to claim damages from suppliers over chip shortages
Source: Reuters
25/01/2021 10:29:30 AM