Volkswagen to produce fewer cars in 2022 following semiconductor supply issues December 16, 2021 Volkswagen has reportedly said it might have to reduce its production forecasts for 2022 as a result of ongoing semiconductor issues. After reducing its 2021 forecasts from 9.3 to 9 million vehicles produced, the German car marker could see deliveries fall to 8 million next year, business magazine Manager Magazin reported this morning, citing sources [...]
Volkswagen exec warns battery technology and materials will cost north of $30bn December 1, 2021 Volkswagen’s planned European battery cell plants and securing vital raw materials will cost as much as 30 billion euros ($34 billion), board member Thomas Schmall said, putting a price tag on the expansion for the first time. Schmall, who is in charge of technology at Europe’s largest carmaker, said in an interview at the Reuters [...]
Volkswagen committee still uncertain over chief executive’s future following row with unions November 24, 2021 The member of Volkswagen’s (VW) executive committee have yet to make a decision regarding the future of chief executive Herbert Diess, following clashes with union representative over his management style. “This topic is so hot, it is on a knife-edge,” a source told Reuters. “I can’t say anything further.” Diess has been at the centre [...]
Tesla competition may force Volkswagen to speed up electric transition with job losses looming October 13, 2021 Competition from Tesla is pushing Volkswagen to think about speeding up its transition to electric vehicles, and that could spell job losses for its army of workers. Watch the full report.
Semiconductor chip shortage puts on the brakes for Volkswagen and Toyota August 19, 2021 A semiconductor supply crunch is forcing world leading car manufacturers Volkswagen and Toyota to slash vehicle production. Toyota, the world’s largest car maker, announced it will cut production by 40 per cent in September. Instead of making 900,000 as planned the manufacturing giant will now produce just 500,000 cars. Likewise, Volkswagen’s parent plant in Wolfsburg [...]
BMW and Volkswagen Group fined $1bn by EU for emission cleaning July 8, 2021 The European Commission fines BMW and Volkswagen Group a total $1bn (£726m), saying that three German carmakers breached EU antitrust rules by restricting competition in emission cleaning for new passenger diesel cars. The EU executive said the trio – BMW, Volkswagen Group and Daimler – had colluded on technical development in the area of nitrogen [...]
Hire offer needed: Europcar rebuffs Volkswagen bid valuing it at €2.2bn June 23, 2021 Car rental giant Europcar has rebuffed an offer from VW and Audi owner Volkswagen, according to reports, that values the hire firm at €2.2bn (£1.88bn).
Europe car sales pick up speed in March to erase early-year declines April 16, 2021 Europe’s monthly car sales leaped 63 per cent in March as markets overcame Covid restrictions to recover from a pandemic crash, according to new data. Registrations in the EU, EFTA and UK markets rose to 1.39 million year-on-year, data from industry association ACEA showed on Friday. The resurgence erased an early-year decline to shoot sales [...]
Screenshot: Will London ever be ready for tech IPOs? April 2, 2021 This week **Media Moment of the Week: Volkswagen’s awkward U-turn **Will London ever be ready for tech IPOs? **Amazon goes bonkers for bots Media Moment of the Week: Volkswagen’s awkward U-turn There are few things as grating as the forced joviality of April Fool’s Day and it should, in this writer’s opinion, be cancelled. That [...]
Missed the spark: Volkswagen share price dips following ‘Voltswagen’ April Fool’s joke April 1, 2021 Volkswagen’s share price fell today after the American arm of the company issued a false announcement claiming it was changing its name to ‘Voltswagen of America’. The stunt, which came just ahead of April Fool’s Day, was meant to call attention to its electric vehicle efforts. But the joke fell flat on social media, with [...]