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German carmaker Mercedes Benz today appeared in a UK court over its alleged part in the ‘dieselgate’ scandal. Lawyers acting on behalf Mercedes Benz drivers asked a London court to let them launch a class-action type lawsuit against the German firm over claims it cheated on emissions tests. Class-action specialists Leigh Day and Pogust [...]
Porsche is reportedly in talks to integrate Google into its car cockpits, in a sign the luxury carmaker has overcome its doubts about data sharing. Sources told Reuters the deal would enable Porsche customers to use the Google Automotive Services (GAS) package. This will mean motorists will no longer have to connect their smartphones to [...]
Volkswagen is set to present its new software roadmap later this month, according to sources. People close to the matter told German business newspaper Handelsblatt that Volkswagen’s chief executive Oliver Blume will present the strategy at a supervisory board meeting on 15 December. The software roadmap – which will cost the group €1bn (£861.6m) – [...]
Volkswagen’s boss Thomas Schafer is very concerned about the EU and Germany losing their industrial attractiveness due to surging energy costs. “We are treading water,” he wrote in a LinkedIn post on Monday. “I am very concerned about the current development regarding investments in the industry’s transformation.” According to Schafer – who has been at [...]
Volkswagen’s new chief executive Thomas Schafer has made a u-turn in the company’s strategy, focusing on reducing “the portfolio of models” as well as introducing “proper vehicles.” “We need to get back our spirit, our heart, and create new iconic people’s cars,” Schafer told the Sunday Times. The German manufacturer has been through a turbulent [...]
Volkswagen forecasts China sales in 2022 to be on par with last year’s levels as the impact of the pandemic and of semiconductor shortages lingers on. The automotive manufacturer told German business newspaper Handelsblatt it was expecting to deliver 3.3 million vehicles – 14.3 per cent down from previous expectations. “This corresponds to a market [...]
Volkswagen’s plans to build a €2bn (£1.7bn) electric vehicle factory in Germany are in doubt, according to recent reports. People close to the matter told Reuters that chief executive Oliver Blume was currently reviewing the plans, as doubts were cast on whether a new electric vehicle (EV) factory was needed after all. According to sources, [...]
Porsche has overtaken parent company Volkswagen as Europe’s most valuable car maker as its valuation increased to around €84bn (£73.5bn) a week after its IPO. The luxury car maker’s value was initially pushed up to €85bn as shares surged to €93 earlier this morning. But even though shares stabilised to around €91 by lunchtime, Porsche’s [...]
Volkswagen’s boss Oliver Blume said all of the group’s subsidiaries are preparing to float as an exercise. This comes on the heels of Porsche floating last Thursday in Frankfurt for €75bn (£67bn). Blume explained on Tuesday that top officials at each brand – including Audi, Bentley and Lamborghini – were sharpening their focus ahead of [...]
Posche’s stocks made a strong start on Thursday, climbing as high as 5 per cent following the luxury car maker’s €75bn (£67bn) Frankfurt IPO. Shares increased from an issue price of €82.50 to €86.78 by mid-morning before closing at €82.74. Chief executive Oliver Blume said the company was “very positive about the first price.” “Of [...]
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