Volkswagen Financial News

Shares of electric vehicle giant, Tesla (NASDAQ:TSLA) are down nearly 3% in afternoon trading Thursday morning after it was announced that the company notified workers at its California car plant of pay increases across its US factories.

Factory workers at Tesla have been told to expect pay raises this year

Shares of electric vehicle giant, Tesla (NASDAQ:TSLA) are trending down more than 1.5% in pre-market trading Thursday morning after it was announced that the company notified workers at its California car plant of pay increases across its US factories.

By Abhirup Roy and Joseph White

By Qiaoyi Li and Brenda Goh

(Reuters) — Japanese automaker Honda (NYSE:HMC) Motor announced on Tuesday plans to launch a new electric vehicle series from 2026, as it plays catch-up with global rivals in the shift to battery powered cars.

Volkswagen announced at CES 2024 that it will add ChatGPT to its vehicles equipped with the IDA voice assistant. The ChatGPT integration with Volkswagen will go live in the second quarter of 2024 and will be available for the company's EV range, including the ID.7, ID.4, ID.5, ID.3 as well as the new Tiguan, Passat and Golf models.

By Abhirup Roy and Victoria Waldersee

BERLIN/LAS VEGAS (Reuters) — Volkswagen (ETR:VOWG_p) presented its first vehicles featuring a voice assistant that integrates ChatGPT technology at the CES electronics trade fair in Las Vegas on Monday, enabling drivers to have researched content read to them during their drive.

Made-in-India cars are finding increased global acceptance with top carmakers pushing exports to make the most of the strong cost and talent advantage available in the country. Toyota, Volkswagen, Hyundai, Mahindra, Tata Motors, Honda and Skoda have all reported significant jumps in exports in 2023 even as market leader Maruti Suzuki hit a new high by exporting 261,700 passenger vehicles including cars and SUVs, data by Jato Dynamics show. With the Indian regulatory norms moving towards global standards, vehicles being developed and sold here need minimum adaptation for export markets, industry officials said. India's low-cost manufacturing, arbitrage in labour costs, availability of skilled manpower, and a well-developed supplier base offer carmakers a competitive cost advantage, they said. «With increasingly stringent regulations focusing on safety, emissions, and technological advancements, car manufacturers are investing in research, development, and innovation,» said Piyush Arora, managing director and CEO of Škoda Auto Volkswagen India.

Tesla deliveries to hit record, but fall short of Elon Musk’s aspirations Volkswagen said on Monday it "is in the process of confirming eligibility for a federal EV tax credit for vehicles" after Jan. 1.

Korean automaker is anticipated to take the lead by announcing the price launch of the 2024 Sonet facelift among its popular models. Deliveries for this SUV are expected to commence in mid-January, with the pricing details likely to be disclosed by the second week of the month. Bookings for the new Sonet began earlier this month, requiring a deposit of ₹25,000.

By Brianna Solberg

MG Motor India, the SAIC-owned British brand, plans to launch seven new models in the Indian market over the next couple of years, the company told a group of dealers invited to its headquarters in Shanghai within days of stitching a joint venture with the Sajjan Jindal-owned JSW Group. A spokesperson at MG Motor India declined to comment. During their visit, the dealers were showcased a line-up of models—some of which would be launched in India over the next 24 months, said several dealers who attended the meet earlier this month. On November 30, JSW Group and SAIC Motor announced an India joint venture to expand the operations of MG Motor owned by the Chinese.

It has been a busy year for Industry Minister François-Philippe Champagne. He has several responsibilities, but building a new battery sector seemed to keep him the most occupied in 2023 as Canada inked multi-billion-dollar deals with battery and automakers Stellantis NV, LG Energy Solution Ltd., Volkswagen AG and Northvolt AB to build three battery plants.

Volkswagen India has extended its enhanced service support to affected customers in Tamil Nadu following the impact of heavy rains and flooding in the state, the company said on Saturday. The initiative, with effect from December 22, would offer service support to flood affected car owners including Roadside Assistance, special benefits on parts, labour costs and car care treatment among others.

In Sweden’s far north, two investors are rolling out a playbook that could break the financial bottleneck that has bedeviled emerging green industries. So far, they have hatched the world’s first large-scale steel mill powered by green hydrogen and a fast-growing battery maker that has raised more than $9 billion. Next up are heat pumps.

The White House is lending its support to an auto industry effort to standardize Tesla’s electric vehicle charging plugs for all EVs in the United States, part of a broad effort to stimulate their sales to help combat climate change

Residential solar is gaining traction in the U.S., with about 4.5 million homes now with solar rooftops

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RAYONG, Thailand—Ever since Nissan Motors started building cars in Thailand in the early 1960s, Japanese companies have been a driving force in the country’s rise as an auto manufacturing powerhouse. Now, Chinese competitors are moving in to bring it into the electric age. On the outskirts of Thailand’s carmaking capital, Rayong, not far from the industrial zones home to Japanese auto plants, China’s largest electric-vehicle maker, BYD, is developing what industry experts believe will be Thailand’s biggest car plant.