Tag Archives: Volkswagen AG

VW Group – €2.6 Billion Exposure Over EV Plant Closing

In an ad hoc release late yesterday, the Volkswagen Group slashed its annual financial results forecast over the costs of the potential shutting down of an Audi EV plant in Brussels. In total, this will lead to a “burden on the operating result of up to €2.6 billion in the 2024 financial year.” Continue reading

Posted in auto news, electric vehicles, financial results, labor issues, mobility company, news analysis | Tagged , , , , , , , , , | Leave a comment

Forced Labor Official Vehicles – BMW, Jaguar Land Rover, VW

“Automakers are sticking their heads in the sand and then swearing they can’t find any forced labor in their supply chains,” Senator Wyden said. “Somehow, the Finance Committee’s oversight staff uncovered what multi-billion-dollar companies apparently could not: that BMW imported cars, Jaguar Land Rover imported parts, and VW AG manufactured cars that all included components made by a supplier banned for using Uyghur forced labor. Automakers’ self-policing is clearly not doing the job. I’m calling on Customs and Border Protection to take a number of specific steps to supercharge enforcement and crack down on companies that fuel the shameful use of forced labor in China.” Continue reading

Posted in auto news, economy, labor issues, manufacturing, shows and events | Tagged , , , , , , , , , , , , | Leave a comment

Bentley CEO Adrian Hallmark Abruptly Leaves

Adrian Hallmark, chairman and CEO of Bentley Motors Ltd.* since February 2018, is leaving the company at his own request and by mutual consent. “He is preparing for new tasks outside the Volkswagen Group with immediate effect. His successor in … Continue reading

Posted in auto news, news, people | Tagged , , , , , , , , | Leave a comment

VW Bus Beach Party Recap – Type 2s Only Need Apply

Volkswagen also unveiled its latest accessories concept vehicle, giving an early look at the customization potential of the ID. Buzz EV. On display alongside this point-of-sale promo was a unique art car, and a handful of vintage Microbus models from Volkswagen of America’s historic collection and some VIP guests. Continue reading

Posted in shows and events | Tagged , , , , , , , , | Leave a comment

Milestones: Volkswagen Completes Promised Argo AI Funding

The numerous problems confronting Ford Motor and Volkswagen AG revolve around a central issue: Whether the two global giants and hundreds of thousands of workers can work together or consume shareholder capital at astonishing, company threatening rates without producing the promise efficiencies – on time and on budget. Continue reading

Posted in autonomous vehicles, milestones, mobility company | Tagged , , , , , , , | 1 Comment

Porsche SE Posts Strong 2019 Half-Year Results

Porsche sales revenue grew +9% to € 13.4 billion compared with the prior-year period. The operating result before special items increased by +3% to € 2.2 billion. Return on sales before special items was 16.5%. Deliveries increased 2% to 133,484 vehicles by June end. The workforce increased by 5% to 33,839 employees in the first half of 2019. Continue reading

Posted in auto news | Tagged , , , , , | Leave a comment

Volkswagen and Ford Announce Alliance Without Cross Equity

The history of such industry collaborations is difficult and littered with road kill. The problem is whether the two global giants and hundreds of thousands of workers can walk in step together or stumble over each other. Continue reading

Posted in auto news, economy, engineering, financial results, manufacturing, marketing, mobility company, new vehicle, news analysis | Tagged , , , , , , , , , , , , , , | 2 Comments

Contract for Martin Winterkorn, Chairman of the Board at Volkswagen, to be Extended Once Again

The Executive Committee of the Supervisory Board of Volkswagen AG unanimously agreed to a resolution for submission to the Supervisory Board at its meeting on September 25, 2015 under which a new contract as Chairman of the Board of Management of Volkswagen AG for a term until December 31, 2018 should be concluded with Martin Winterkorn. Continue reading

Posted in people | Tagged , , , , | Leave a comment