Volkswagen Financial News

The decision of the companies will depend on final guidelines, or standard operating procedures, of the policy that the government is expected to announce in the next three to four months, the people said. The Scheme to Promote Manufacturing of Electric Passenger Cars in India was unveiled in March, this year.

Subscribe to enjoy similar stories. In August, a small team of Volkswagen executives and engineers flew from Germany to Palo Alto, Calif., to take a top-secret vehicle for a spin. Originally built as an electric Audi, the vehicle had been shipped to the U.S.

Subscribe to enjoy similar stories. Wall Street’s verdict is clear: A second Trump presidency is likely to deliver a blow to an export-dependent European Union that is struggling with sclerotic economic growth and ever-multiplying political crises. Whether it will finally spark some change is the question for patient investors.

Volkswagen says significant cost cuts are urgently needed as it reports a steep decline in third-quarter earnings and faces employee representatives angry at the possibility of the automaker’s first plant closures in Germany

The European Union has finalized its sharply higher customs duties on electric vehicles imported from China

Nestle, Colgate-Palmolive, Godrej Consumer Products, Maruti Suzuki, Volkswagen, Skoda and Tata Motors, have stepped up advertising and marketing spends in September quarter, and some of them said they will continue to increase spending through the December quarter to help revive demand. Toothpaste maker Colgate increased marketing and ad spending by 17.8% in the July-September period to ₹242 crore and expects the momentum to continue, while Godrej Consumer Products said in a post-earnings call that it will continue to incrementally increase ad spends as it did in the past quarter. Colgate in a management commentary said a step up in ad spends, which were nearly a percentage point higher from a year earlier, were on account of innovation in the quarter. Nestle India increased advertising and marketing investments in the September quarter. «We kept a relentless focus on investing behind our core brands, with advertising and marketing investments increasing this quarter,» Nestle India chairman Suresh Narayanan said in an earnings statement. Addressing reporters at Nestle's Samalakha factory last week, Narayanan said the company is «taking steps to address pockets of weakness and mitigate local competition with higher ad spends».

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

Mercedes-Benz will step up cost cuts after earnings halved in the third quarter hit by tepid demand and fierce competition in China, it said on Friday. The carmaker cut its full-year profit margin target twice during the third quarter, joining a growing number of European rivals blaming a weakening Chinese car market for falling profits and margins. Union Investment, which according to LSEG is among the 30 top investors in Mercedes, called on the management to amend its strategy as it sees no market for 2 million luxury cars any longer.

A senior executive for Volkswagen in China has been deported for allegedly using cocaine and marijuana while on vacation in Thailand

The Slovak government and Hyundai Mobis have signed a memorandum of understanding on the South Korean company’s plan to build a plant for engines and other parts for electric cars in Slovakia

Subscribe to enjoy similar stories. General Motors, long a dominant player in China, was hoping to reinvigorate its faltering business in the world’s largest car market with an influx of new models over the past two years. Among them was the electric Cadillac Lyriq, a flashy luxury car that executives hoped would appeal to Chinese consumers who were increasingly gravitating to plug-in cars.

Subscribe to enjoy similar stories. The tyranny of touch screens may be coming to an end. Companies have spent nearly two decades cramming ever more functions onto tappable, swipeable displays.

Northvolt AB was supposed to power Europe’s response to the likes of Tesla Inc. and China’s fast-growing electric vehicle makers. Instead, the Swedish battery company is fighting to stay afloat. As it faces a crushing liquidity crunch, the company’s creditors will meet Friday to decide on freeing up funds critical to its survival. On Thursday, Harald Mix, Northvolt’s founder and owner of a 7.2% stake, said he plans to provide new capital to the company, pointing to the “important role” it plays in European competitiveness. Burning cash as it struggles to deliver the batteries it promised customers, Northvolt this week said it’s shedding a fifth of its global staff and suspending the expansion of its main factory in northern Sweden. With Europe’s battery boom turning to bust, more pain may be in the offing.

Google is providing key capabilities for an artificial intelligence assistant for Volkswagen drivers in a smartphone app, part of Google's strategy to win business by offering tools to build enterprise AI applications. Consumers can ask Volkswagen's in-app assistant questions like «How do I change a flat tire?» or point their phone cameras at vehicle dashboards to receive relevant information. The AI assistant draws on Google's Gemini large language models, programs that can understand and generate predictive responses to human language, and cloud computing capacity.

Last month, echoing a U.S. announcement three months earlier, the federal Liberals announced a 100 per cent tariff on the import of Chinese electric vehicles (EVs). China wasted no time striking back where it would hurt most, launching an anti-dumping investigation into Canadian canola exports. While there’s no evidence of dumping, there’s a very high likelihood the move is a procedural pretext to halting canola imports. China has long been the biggest canola buyer and was expected to purchase 70 per cent of this year’s bumper crop.

The U.S. government is proposing a ban on key Chinese software and hardware in connected vehicles on American roads due to national security concerns, the White House announced Monday.

Subscribe to enjoy similar stories. Stellantis and Volkswagen posted significant drops in August new-car registrations in the European Union, contributing to a sharp overall decline as demand weakened in key markets and electric-vehicle sales fell. Consumers in core markets of Germany, France, Italy and Spain drove an 18% on-year drop in the bloc’s monthly registrations, which reflect sales, the European Automobile Manufacturers’ Association said Thursday.

Subscribe to enjoy similar stories. The car industry’s effort to decarbonise revolves around replacing petrol with batteries. A growing number of customers want both.

Volkswagen gave IG Metall notice on Tuesday it was scrapping a range of labour agreements including a guarantee of jobs until 2029 at six German plants, the union said. Europe's top carmaker is cancelling the decades-old employment guarantees as part of cost-cutting drive that has triggered a showdown with workers as Volkswagen struggles to compete against cheaper Asian rivals. «These cancellations arrived seconds ago,» IG Metall said in an emailed statement.

Northvolt AB will cut a large number of jobs and sell or seek partners for its energy storage and materials businesses as Europe’s leading battery hope aims to survive by refocusing on its struggling first gigafactory in northern Sweden.

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