Category: Volkswagen
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Volkswagen warns of ‘harmful’ consequences from Trump’s Mexico tariffs
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Volkswagen has warned that the US administration’s proposed tariffs on imports from Mexico could have a “detrimental economic impact” on both US consumers and the global auto industry. This comes after President Donald Trump indicated this week that he intends to impose tariffs of up to 25 percent on vehicles…
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Volkswagen cuts forecasts again on demand, EV competition
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Volkswagen cut its guidance for the second time this year, warning that falling demand will undermine the German automaker’s profitability as it battles with unions over potential job cuts and unprecedented factory closures. The manufacturer said Friday that it now sees an operating margin of 5.6%. That’s down from expectations…
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SAIC Volkswagen says adjusting plant base “necessary” By Reuters
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HONG KONG (Reuters) – SAIC Volkswagen said on Saturday that adjusting its production base was “natural and necessary” in response to reports it would close its Nanjing plant, China’s Yicai media reported. Reuters reported this week that Germany’s Volkswagen plans to halt production at one of its combustion engine car…
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SAIC Volkswagen says adjusting plant base “necessary” By Reuters
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HONG KONG (Reuters) – SAIC Volkswagen said on Saturday that adjusting its production base was “natural and necessary” in response to reports it would close its Nanjing plant, China’s Yicai media reported. Reuters reported this week that Germany’s Volkswagen plans to halt production at one of its combustion engine car…
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Xpeng, Volkswagen set up project house to roll out new EV architecture By Reuters
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Chinese electric vehicle maker Xpeng (NYSE:) said Monday it has set up project houses for engineers in partnership with German automaker Volkswagen AG (OTC:) to accelerate the development of new electric vehicle architecture. The new facilities, to be built in the Chinese cities of Guangzhou and Hefei, will serve as…
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Volkswagen to ramp up solid-state battery production in QuantumScape deal
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BERLIN (Reuters) – Volkswagen said on Thursday it will significantly ramp up production of solid-state batteries it developed with U.S. startup QuantumScape as the German carmaker aims to fit the technology into more vehicles. Under an agreement announced Thursday, VW’s PowerCo battery unit will receive a license to mass-produce battery…
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Volkswagen shares down after possible Brussels plant closure, profit warning By Reuters
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FRANKFURT (Reuters) – Shares of Volkswagen fell 1.5 percent in early Frankfurt trading after Europe’s largest carmaker issued a profit warning late on Tuesday over accusations related to the possible closure of an Audi plant in Brussels. Volkswagen said the costs of finding an alternative use for the Brussels plant…
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Watch for more auto shockers after Rivian landed Volkswagen as a major partner
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hapapapa Rivian Cars (Nasdaq:RIVN) shook up some tremors across the electric vehicle sector with its announcement that the company will form a joint venture with Volkswagen (OTCPK:VLKAF) (OTCPK:VWAGY). Volkswagen (OTCPK:VLKAF) $5B Initial and Planned Investments, Plus Rivian (RIVN)) Current Cash Position It is expected to provide capital to fund the…
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Rivian stock soars as Volkswagen says it will invest up to $5 billion in new joint venture
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Shares of Rivian (RIVN) rose in the hours after the electric vehicle maker announced a joint venture deal with Volkswagen (VWAGY), bringing new capital into Rivian’s coffers. Shares of Irving, Calif.-based Rivian rose more than 40% in after-hours trading. Volkswagen has announced that it intends to work with Rivian to…
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Electric mobility has ‘won the race’ but Volkswagen hits brakes on EV strategy
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Volkswagen AG’s comprehensive electric vehicle plan no longer exists. VW’s namesake brand, which has made its ID family of electric vehicles a staple of its future, I confess Last week you’ll need more hybrid cars as electric car sales slow. This represents the latest tweak VW has made to its…