Volkswagen Financial News

More than 1,000 workers at Volkswagen’s Tennessee factory have signed cards authorizing a vote to be represented by the United Auto Workers union

The EV trend in the US at the end of 2023 is a little tough to tease out

By David Shepardson and Ben Klayman

By Gilles Guillaume

An audit commissioned by Volkswagen has found no indication of forced labor at its plant in China’s Xinjiang region, where Western governments have accused the Chinese government of human rights violations against the Uyghur ethnic minority

BERLIN (Reuters) -Volkswagen must provide more transparency in its value chain and ensure its China operations are regularly reviewed, two of the carmaker's investors said on Wednesday, after an audit of its jointly owned Xinjiang site found no sign of forced labour.

ROME (Reuters) -Lamborghini has reached a deal with unions to introduce a four-day week for its production workers, the labour associations and the company said on Tuesday, as more manufacturing groups re-consider the structure of the work week for their employees.

U.S. auto safety regulators say they are monitoring data from a group of mostly unrecalled Takata air bag inflators after one of them exploded in a BMW and hurled metal fragments that seriously injured a driver in Chicago

The United Auto Workers union has announced plans to try to simultaneously organize workers at more than a dozen nonunion auto factories

The United Auto Workers (UAW) union announced Wednesday their plan to unionize electric vehicle maker, Tesla (NASDAQ:TSLA) as well as the entirety of the nonunion auto industry in the United States.

Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Tesla’s China price change; Ford resumes construction; and VW boosts wages.

India will likely give rise to job opportunities for mechanical, electrical and electronics engineers in the coming years, experts said. Manufacturers expected to be at the forefront of this job creation include Mercedes Benz, Bosch, Michelin, ABB, Boeing, Airbus, Renault, Volkswagen Group, Schneider Electric, John Deere, Caterpillar, Continental and Collins Aerospace, according to consultants and industry experts. Some engineering college professors said however that cutting-edge roles may not be part of this trend, besides which automation could take a toll. Several MNCs have been shipping out research, design and engineering jobs to India, marking a shift in the profile of offshored jobs from the traditional IT and shared services support to engineering and technical or product-related roles, the experts said.

German automaker, Volkswagen (ETR:VOWG_p) revealed Wednesday its decision to increase salaries for production workers at its Chattanooga assembly plant in Tennessee by 11%. This announcement comes weeks after the United Auto Workers union secured substantial pay and benefit raises from the Detroit Three automakers.

BEIJING — China's property market, which makes up a substantial chunk of the country's economy, needs more government support to prevent it from deteriorating further, analysts said.

OSLO (Reuters) — Swedish truck maker Scania will switch to using steel made without carbon emissions in its heavy-duty vehicles before the end of the decade, it said on Monday.

Investing.com — European stock markets edged higher Monday, helped by the positive close on Wall Street last week but investors continue to fret about the global growth outlook amid restrictive monetary policies.

TOKYO—Struggling to compete with homegrown electric-vehicle makers in China, Japanese automakers are looking at whether to cut their losses and focus resources on warding off Chinese rivals in other stronghold markets. During the first half of their fiscal year—the period from April to September—Honda, Nissan, Mazda, Mitsubishi Motors and Subaru reported year-over-year declines in auto sales in China. Toyota’s China sales volumes were little changed from a year earlier but the automaker flagged the market as one of particular concern.

SHANGHAI (Reuters) — Japan's Toyota Motor (NYSE:TM) has told dealers that it will extend a plan to reduce output at one of its joint ventures in China, where it faces rising competition.

₹33.30-49.9 lakh) price range in a surprising move, given that India had placed EVs on an exclusion list for concessions. The UK’s interest was thought to be in the luxury EV segment. For the UK, access to the Indian EV market remains a priority, and the $40,000-60,000 segment—the so-called premium segment—is thought to be a sweet spot for potential sales and market expansion.

By Ben Klayman

After decades of absence, the go-fast Acura Integra is back