BERLIN (AP) — Automaker Volkswagen AG says it is investing 1 billion euros ($1.12 billion) to set up a battery production plant in Germany.
Volkswagen to shed up to 7,000 jobs through automation
BERLIN (AP) — German carmaker Volkswagen AG says it expects to shed between 5,000 and 7,000 jobs at its core brand by 2023 as a result of increasing automation of "routine tasks."
BERLIN (AP) — Volkswagen AG says Markus Duesmann is joining its management board from German competitor BMW. It isn't confirming a German newspaper report that the plan is for him to become CEO of the automaker's Audi unit.
Volkswagen said its supervisory board offered a job to Duesmann, currently the BMW board member overseeing that company's purchasing and supplier network.
SEOUL, South Korea (AP) — Hyundai Motor Group said Wednesday it signed an agreement with Audi AG to jointly develop electronics vehicles powered by fuel cell.
Under the multi-year agreement, Hyundai's affiliates including Kia and Audi's parent company Volkswagen AG will share components, supply chains and patent licensing. The duration of the partnership wasn't disclosed.
CHARLESTON, W.Va. (AP) — West Virginia has reached a $2.65 million settlement with Volkswagen AG and two of its affiliates in a lawsuit over the automaker's emissions-rigging scandal, state Attorney General Patrick Morrisey announced Tuesday.
Morrisey announced the settlement with Volkswagen and its Audi and Porsche brands.
Volkswagen AG secured 20 billion euros ($25 billion) in battery supplies to underpin an aggressive push into electric cars in the coming years, putting pressure on Tesla Inc. as it struggles with production issues for the mainstream Model 3.
Toyota Motor Corp. announced plans to drop diesel models from its European portfolio this year even as Volkswagen AG, which sparked the fury over the technology, predicts a rebound.
The diverging views of the world's two largest automakers reflect the uncertainty over the future of diesel, which has faced a steady drumbeat of bad news since Volkswagen's cheating scandal erupted in September 2015.
A German court opened the door to bans on where diesel cars can drive in a landmark ruling that will likely expedite the demise of the embattled technology over concerns about air pollution.
Volkswagen says earnings up more than 50 percent in 2017
BERLIN (AP) — Automaker Volkswagen AG says its net profit increased by more than half last year, while revenue climbed more than 6 percent.
The company said Friday it earned 4.35 billion euros ($5.35 billion) in 2017, a 55.5 percent increase over the previous year's 2.8 billion euros. Revenue rose to 230.7 billion euros from 217.3 billion euros.
Volkswagen AG premiered its new Jetta sedan as part of the Detroit auto show Sunday night.
The German automaker said the 2019 edition of the Jetta it important to its future success in the United States. It has a longer wheelbase and wider platform than its predecessor.
This is a vital car for us, because it is our best-seller in the United States," Hinrich Woebcken, CEO of Volkswagen's North American region, said.
Volkswagen AG's rebound from the diesel emissions scandal and an upgraded earnings forecast has helped the stock to surge ahead of its German peers.
VW's preference shares returned 23 percent this quarter through Friday, best among European auto stocks, while Daimler AG has gained 5.3 percent and BMW AG is little changed. Porsche Automobil Holding SE, which owns a majority of VW common shares, has done even better – advancing 31 percent.
You know the automotive status quo is upside down when the CEO of Volkswagen AG, Europe's largest player, says government subsidies for diesel engines should end.
But that's exactly what Matthias Müller did over the weekend. An electrification push by Chinese government officials, stewards of the world's largest market, and the "Dieselgate" scandal that cost VW and its shareholders upwards of $20 billion can do that.
BMW is targeting another ambitious hike in plug-in hybrid and battery car sales next year to defend its position in the electric-car shift as competitors like Volkswagen AG ready their own battery lineups.
Volkswagen AG plans three research projects on a Google quantum computer as part of the German automaker's push to develop new digital features for cars and broaden its technological heft beyond manufacturing and selling vehicles.
The projects include refining traffic-management systems, simulating the structure of electric-car batteries and other materials as well as artificial intelligence for autonomous driving, Wolfsburg-based Volkswagen said Tuesday in a statement.
VW CEO Vows to Offer Electric Version of All 300 Models by 2030
Volkswagen AG Chief Executive Officer Matthias Mueller announced sweeping plans to build electric versions of all 300 models in the group’s lineup as the world’s largest automaker accelerates the shift away from combustion engines and tries to draw a line under the emissions-cheating scandal.
TOKYO (AP) — The alliance of Japanese automaker Nissan Motor Co. and Renault SA of France led in global vehicle sales for the first half of this year, the first time it has claimed top rank.
The Nissan-Renault alliance, which includes Mitsubishi Motors Corp., sold 5,268,079 vehicles around the world in January-June.
That was more than Volkswagen AG at 5,155,600, and Japanese rival Toyota Motor Corp., which said Friday it sold 5,129,000 vehicles in the first half.
BERLIN (AP) — German prosecutors say they've opened an investigation into employees of Porsche, which is a unit of Volkswagen AG, and an American subsidiary over the possible manipulation of diesel emissions.
Stuttgart prosecutors said Monday they are investigating suspicions of fraud and making false claims. They said that the investigation is against persons unknown who were employed by Porsche and a U.S. unit which it did not identify.
- The Detroit NewsReport: Ford-VW could announce deal in Jan.December 10, 2018
- The Detroit NewsVW says combustion cars will fade away after 2026December 5, 2018
- The Detroit NewsPorsche has plan to drive up profit by 6B eurosNovember 26, 2018
- The Detroit NewsBye-Bye, Beetle: VW to squash 'Love Bug' productionSeptember 13, 2018
- The Detroit NewsAudi CEO named suspect in diesel caseJune 11, 2018
Insider Q&A: Getting VW owners their share
DETROIT (AP) — About a year ago, Volkswagen agreed to spend up to $15.3 billion to settle consumer lawsuits and government allegations that its diesel vehicles cheated on U.S. emissions tests. Included was up to $10 billion for owners of about 450,000 VWs and Audis to either buy back or repair vehicles with 2-liter engines.
VW makes $5.4 billion profit in 2016, limits executive pay
BERLIN (AP) — Volkswagen bounced back into the black in 2016 after suffering a loss the previous year due to the diesel emissions scandal, according to figures released by the German automaker Friday.
The company reported a net profit attributable to Volkswagen AG shareholders of 5.1 billion euros ($5.4 billion) last year compared with a net loss of almost 1.6 billion euros in 2015.
Strong yen sends Toyota’s quarterly profit sinking 36 pct
TOKYO (AP) — Toyota Motor Corp. reported Tuesday that its July-September profit sank 36 percent as a stronger yen eroded its overseas earnings.
Lagging sales also pinched the Japanese automaker's fiscal second quarter profit, which fell to 393.7 billion yen ($3.8 billion) from 611.7 billion yen in the same period the previous year.
Quarterly sales slipped nearly 9 percent to 6.48 trillion yen ($62.3 billion).
VW asks historian to research role under Brazil dictatorship
BERLIN (AP) — German automaker Volkswagen AG says it has commissioned a historian to research its role during Brazil's 1964-1985 military dictatorship.
Volkswagen has faced accusations that it collaborated with the military regime and drew up black lists on employees.
The company said in a statement Thursday that Christopher Kopper, a history professor at Bielefeld University in Germany, has been commissioned to "clarify" what role it played.
What Volkswagen owners can expect from the diesel settlement
DETROIT (AP) — A federal judge on Tuesday approved a settlement between Volkswagen AG and about 475,000 owners of diesel cars that don't meet U.S. emissions standards.
Volkswagen admitted last year that the cars were programmed to cheat on emissions tests. The German automaker will spend up to $10 billion to either buy the cars back or fix them and compensate owners.
Vermont sues Volkswagen over emissions-rigging scandal
MONTPELIER, Vt. (AP) — Vermont sued Volkswagen and its affiliates Thursday, saying the automaker's diesel emissions-rigging scheme violated the state's consumer and environmental laws.
Volkswagen agreed this summer to spend as much as $15 billion to settle lawsuits and complaints about the cheating.
Volkswagen Truck & Bus buying stake in Navistar for $256M
NEW YORK (AP) — Volkswagen Truck & Bus, an arm of the German automaker Volkswagen, is buying a minority stake in Navistar for $256 million.
The companies also said Tuesday that they will enter a procurement joint venture that will help source parts for both businesses. There will also be technology sharing, with an anticipated emphasis on powertrain technology.
VW says it’s reached agreement to resolve supplier dispute
BERLIN (AP) — Volkswagen says it has reached an agreement with two suppliers in a dispute that forced the company to suspend production of some models in Germany.
News agency dpa reported Tuesday that the automaker said the suppliers will quickly resume deliveries. No details were released.
SEOUL, South Korea (AP) — South Korea has fined Volkswagen 17.8 billion won ($16 million) and suspended sales of 80 VW models, alleging the German carmaker fabricated documents on emissions or noise level tests.
Ministry of Environment official Hong Dong-kon said the government revoked Volkswagen's certifications, effective Tuesday, because submitting forged documents to authorities is against the law.
The South Korean government alleges that since 2007,...
Judging by this year's wild presidential campaign, accountability is a foreign concept in today's politics. But the auto industry? Not so much.
Ask Volkswagen AG. The $14 billion price tag for its diesel deception is creeping closer to $20 billion, and new lawsuits from three state attorneys general say knowledge of the long-running fraud runs all the way to the office of the new CEO. What a surprise.
Ask Fiat Chrysler Automobiles NV. Following intermittent battles...