Oliver Blume News

In normal times, being Porsche’s boss would rank as one of the world’ s most desirable jobs. But I do not envy new Chief Executive Officer Michael Leiters one bit.Barely two months after taking the helm, he made a decent fist on Wednesday of outlining what ails the German sportscar manufacturer and providing the first hints of how he plans to put things right. He’s committed to restoring the company’s “former glory” and insists Porsche “represents a compelling recovery story.” But investors hoping his arrival marks an immediate start of better times for the storied brand could be disappointed.

Subscribe to enjoy similar stories. Car dashboards have an array of indicators that illuminate to warn of trouble. If the boardrooms of Europe’s carmakers had similar systems they would be lit up like a Christmas market.

The head of Volkswagen's works council says the company has informed employee representatives that it wants to close at least three plants in Germany

Volkswagen is considering closing some factories in its home country for the first time in the German automaker’s 87-year history

Volkswagen says it's not getting the cost reductions that it needs — and won't rule out plant closings in its home country Germany

EV factory in Germany worth €2 billion ($2.2 billion). Despite its aspirations for a greener future, Volkswagen continues to sell many vehicles powered by combustion engines, raising concerns about exceeding emissions allowances in the near future. CEO Oliver Blume has even petitioned European regulators for leniency in this regard.

By David Shepardson

Europe's largest carmaker, Volkswagen (OTC:VLKAF)(ETR:VOWG_p) announced Friday that the automaker plans to build its new generation of Trinity EV at its factory in Zwickau, canceling plans for an all-new factory that were championed under the group's former CEO.

Volkswagen (VW) Group will adopt a phased approach to localisation of its battery electric vehicles (BEVs) in India and will await a strong business case before committing to offering affordable, 'Made in India' EVs, chairman of board of management of Volkswagen Group, Oliver Blume, told ET. This is even as the world's second largest automaker by volume, which sells the Skoda, Volkswagen, Audi, Lamborghini and Porsche brands in India, is a lot more confident of the Indian market now owing to the fast-paced growth it has seen in the country in the recent past that has made it the third largest car market globally. Blume was speaking on the sidelines of the Volkswagen Group's annual press meet in Munich. «We have a ramp-up curve for electric mobility, which includes bringing the right products and right positioning, especially for the Indian market, where you also need to address the lower segments.

MUNICH—For decades, German carmakers dominated their industry with brands that were bywords for excellence and consumer appeal. But as the sector transitions toward electric vehicles, they are falling behind. Nearly a decade into their electric-vehicle shift, and despite billions in investments, VW, BMW, Mercedes and others have failed to make a dent in Tesla’s share of the growing market.

By Jan Schwartz

By Victoria Waldersee

By Victoria Waldersee

Volkswagen named a new chief executive officer for Audi after the luxury brand fell behind competitors BMW and Mercedes-Benz.