Volkswagen Group
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The Volkswagen Group will no longer develop its SPE dedicated electric sports car platform and may also sell off Bentley as it looks to allocate resources to more profitable areas.
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VW boss hints at second US plant, sharing capacity with Ford
Volkswagen Group CEO Herbert Diess dropped further hints about the German automaker's potential partnership with Ford following a meeting at the White House on Tuesday. Diess, together with Daimler boss Dieter Zetsche and BMW Group CFO Nicolas Peter, met with U.S. officials including Commerce...
Viknesh Vijayenthiran -
Could Volkswagen be Waymo's partner in Europe?
The Volkswagen Group and Waymo are reportedly in talks over partnership in the area of mobility services in Europe. Germany's Manager Magazin reported Thursday that the two firms are interested in working together and that VW Group CEO Herbert Diess had even suggested purchasing a 10-percent stake...
Viknesh Vijayenthiran -
VW Group builds first plant dedicated to EVs based on MEB platform
The Volkswagen Group has started construction of the first plant that will solely build cars based on the new modular EV platform known as the MEB, the German auto giant announced Friday. Settled near Shanghai, China, where Tesla also plans a plant, the VW Group's new EV plant will first build...
Sean Szymkowski -
VW Group boosts battery purchases to $48B, or the same market cap as Tesla
New Volkswagen Group CEO Herbert Diess revealed Thursday that the automaker has awarded $48 billion in contracts to battery suppliers. The goal is to reach $50 billion to cover the automaker's battery needs through to 2025. The $48 billion figure is roughly equal to the entire market capitalization...
Viknesh Vijayenthiran -
Report: Porsche powertrain boss arrested in relation to diesel scandal
Jörg Kerner, who was promoted to the head of powertrains at Porsche in 2011, was arrested in relation to the Volkswagen Group's diesel scandal, a person familiar with the matter told Reuters on Friday. German prosecutors confirmed that a person was remanded because of flight risk and that a...
Viknesh Vijayenthiran -
Volkswagen Group has ousted CEO Matthias Müller and replaced him with Herbert Diess, previously CEO of the Volkswagen brand within the larger 12-brand corporation. The move is part of an effort to reorganize the company to do business more efficiently, the company said Thursday. VW Group will be reorganized into six business areas and the China region, which is VW Group's largest market. Its brands will be split into vehicle groups for Volume, Premium, and Super Premium nameplates. “The Volkswagen Group’s goal is and remains to align the Company and its brands with future...
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VW Group hints at possible leadership changes, including CEO position
The Volkswagen Group on Tuesday issued the statement that it is in the process of reviewing its senior management structure and that this could result in potential personnel changes, including the position of CEO Matthias Müller. The short statement said the VW Group board of directors is also...
Viknesh Vijayenthiran -
Volkswagen Group low-cost brand back on the table?
The VW Group for years has been mulling whether to launch a low-cost brand to challenge the Renault Nissan Mitsubishi Alliance’s successful Dacia brand as well as some popular emerging market brands such as India’s Tata and several offerings from China. The biggest hurdle remains...
Viknesh Vijayenthiran -
Report: Former Porsche R&D chief arrested in connection to diesel scandal
Former Porsche R&D chief Wolfgang Hatz who stepped down in the wake of the diesel scandal afflicting the Volkswagen Group has been arrested in Germany as part of an investigation into the scandal by local prosecutors, a person familiar with the matter told Reuters on Thursday. German business...
Viknesh Vijayenthiran -
Audi promises fully self-driving car by 2021
Audi has promised to launch a fully self-driving car by 2021. The target date is a popular one as it’s close enough to be practical but at the same time far enough that should the target be missed few are likely to remember. Other automakers with a similar target include BMW, Ford...
Viknesh Vijayenthiran -
Porsche Makes More Money Per Car Than Audi, Bentley, Or Lamborghini
Porsche makes $23,000 per car, the most of any VW Group brand.
Stephen Edelstein -
It’s been the worst-kept secret in the automotive industry, but now it’s official: luxury automaker Audi is buying Italian motorcycle manufacturer Ducati. While details of the sale haven’t officially been disclosed, Reuters is reporting that Audi paid some 860 million euros ($1.13 billion) for the brand. Critics say the move makes no sense, as Ducati really doesn’t add to Audi’s current business model. Stefan Bratzel, director of the Automotive Center at the University of Applied Sciences in Bergische-Gladbach, called the purchase “just a trophy in the wall...
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Audi To Engineer Porsche SUVs, Including Cajun And Next-Gen Cayenne
Last week it was revealed that Porsche will head the development of new modular sports car and luxury sedan platforms for the entire Volkswagen Group, with the guys from Stuttgart destined to be responsible for a range of new models including a possible entry-level sedan from Bentley and a...
Viknesh Vijayenthiran -
Volkswagen Vying To Be World’s Top Automaker By 2018
The Volkswagen Group has given itself eight years to catch up with Toyota in terms of productivity and profit as part of CEO Martin Winterkorn’s pledge to close the gap in performance between the two automakers, reaffirming plans originally formulated back in 2007. The promise to move from...
Viknesh Vijayenthiran