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☆ Volkswagen in concrete discussions over car partnerships in India
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +1 min

The logo of German car giant Volkswagen (VW) is seen on a Volkswagen ID Buzz van during the company's annual press conference to present the business report, on March 14, 2023 in Berlin. Volkswagen is in concrete talks about partnering up on passenger car production in India, the group's finance chief said on Thursday, adding it was tough to earn money in the market that still presents a "clear" opportunity. "We are in very good discussions," Arno Antlitz told the Reuters Events Automotive Europe conference in Munich, "it's very, very concrete," he added, without specifying. "I think we shouldn't underestimate the potential in India in terms of a market ... and in terms of regulatory uncertainty between the U.S. and China. At 101,553 delivered vehicles, India is so far a small market for Volkswagen, accounting for little more than 1% of deliveries across the whole group in 2023.

Persons: Arno Antlitz, Antlitz Organizations: Volkswagen, Reuters, Automotive, U.S, India's Mahindra, SKODA, Audi, Porsche, Lamborghini Locations: Berlin, India, Munich, China, Washington, Beijing, Aurangabad, Pune

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Tesla became so popular in NorwayNorway is the world leader when it comes to electric vehicle adoption. 82% of new car sales were electric in 2023. Tesla sold over 23,000 Model Ys in Norway last year, significantly more than its top competitors there, Volkswagen and Skoda. Tesla accounted for about 20% of all vehicles sold in the country last year and 2023 marked the third year in a row that Tesla was the top car brand in Norway. CNBC traveled to Norway to find out why the Scandanvian country is so important for Tesla.

Persons: Tesla Organizations: Volkswagen, Skoda, CNBC Locations: Norway Norway, Norway

Norway has had massive success with EV adoption — 82% of new cars sold in the country in 2023 were electric, according to the Norwegian Road Federation. This high adoption rate can be attributed to the generous subsidies the Scandinavian country has offered to electric vehicle owners as well as its investment in charging infrastructure. Tesla's early foothold there has made Norway a pivotal proving ground for the company and a national model for electric vehicle transition. Norwegians were the first European customers to receive deliveries of the Tesla Model S in 2013. CNBC traveled to Norway to meet with local people, government officials and experts to find out how Tesla has become so successful in the Scandinavian country.

Persons: Elon Musk, Tesla Organizations: Norwegian Road Federation, Nordic, Tesla, Toyota, Skoda, Volkswagen, CNBC Locations: Norway

PRAGUE (AP) — Labor unions staged a day of protests and strikes across the Czech Republic on Monday to voice their opposition to the government’s package of cuts and austerity measures meant to keep the ballooning deficit under control. The unions are also demanding more money for the education and healthcare sectors and are protesting proposed changes to the pension system. Some 74% or over 7,200 nursery, elementary and high schools across the country were either fully or partially closed Monday in the biggest such protest since the establishment of the Czech Republic in 1993, unions said. Among other measures, Czechs will pay more taxes on alcoholic beverages, including beer, and on medicine. According to the government, the measures should reduce the budget deficit by 97 billion Czech crowns ($4.3 billion) next year and by 150 billion ($6.7 billion) in 2025.

Persons: Petr Fiala, ” Fiala, Petr Pavel, Andrej Babis, Babis Organizations: — Labor, Auto, Fiala’s, ANO Locations: PRAGUE, Czech Republic

☆ Supply problems set to hit Volkswagen's Skoda unit - Handelsblatt
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: 1 min

ADAS, AV & Safety category · November 18, 2023 · 1:09 AM UTCDays after General Motors’ Cruise self-driving car unit pulled all of its vehicles off the roads in the U.S. for a safety review, it continues to test them on public roads in Dubai and Japan, Reuters has learned.

Persons: General Motors ’ Organizations: General Motors, Reuters Locations: U.S, Dubai, Japan

☆ Vatican fleet is going all-electric with VW supplying the cars
▼ + stars: | 2023-11-16 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +1 min

The first two vehicles, both VW ID.3 compact electric cars, have already been delivered to the Vatican, VW said. In a separate announcement, the Holy See also pledged to build a charging network within Vatican City and in other areas it controls. The Vatican referred to VW as its first strategic partner in the process to make its fleet carbon neutral. The electrification of its fleet is among a number of projects Vatican City is undertaking to reduce its overall carbon emissions. Contained within the Italian city of Rome, it gained its independence in 1929 through a treaty signed with the Italian dictator Benito Mussolini.

Persons: VW, Pope, Benito Mussolini Organizations: CNN, Vatican, VW, Volkswagen, Catholic Church Locations: Vatican City, Vatican, Italian, Rome

☆ Vatican in deal with Volkswagen for all-electric car fleet by 2030
▼ + stars: | 2023-11-15 | by ( Philip Pullella | ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsCompanies Volkswagen AG FollowVATICAN CITY, Nov 15 (Reuters) - The Vatican on Wednesday signed an agreement with German carmaker Volkswagen to replace the city-state's entire car fleet with electric vehicles by 2030. The Vatican's fleet of cars includes dozens of vehicles, most of them dark blue. A pool of drivers take senior Vatican officials to events in Rome and beyond. Many lower-ranking Vatican officials and employees own and drive their own cars into the city-state from Rome. The statement said the Vatican would build a network of electric charging stations inside its walls and at its properties in Rome.

Persons: Pope Francis, Benoit Tessier, Mercedes, Francis, Philip Pullella, Cynthia Osterman Organizations: Prado, REUTERS, AG, VATICAN, German, Volkswagen, Skoda, Volkswagen Group, Vatican, Fiat, Thomson Locations: Marseille, France, Rome, St

☆ Volkswagen puts off east European gigafactory amid sluggish EV demand
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. It said earlier this year it was in no rush to make a decision. Czech officials said on Wednesday they would start offering their proposed site for Volkswagen's battery plant to other investors, saying they could not afford to wait any longer for a decision. "We cannot continue to hold the land for this project," Fiala told a news conference. Industry minister Jozef Sikela said talks were happening with five investors, with two of those projects on a similar scale to Volkswagen's plans.

Persons: David, Dee, Delgado, Oliver Blume, BEV, Blume, Petr Fiala, Fiala, Jozef Sikela, Jason Hovet, Louise Heavens, Mark Potter Organizations: New York, REUTERS, Rights, Volkswagen, Volkswagen's, Skoda Auto, Thomson Locations: Manhattan , New York City, U.S, Europe, Czech Republic, Hungary, Poland, Slovakia, Salzgitter, Germany, Valencia, Spain, St, Thomas, Canada, Volkswagen's Czech, Czech

That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the U.S., independent auto analyst Matthias Schmidt said. MG — owned by SAIC Motor, China’s biggest automaker — is the largest Chinese EV player in Europe. One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter the Chinese market. Chinese EV makers, meanwhile, are trying to stand out in a crowded field.

Persons: Laima Springe, Janssen, “, ” Springe, I’m, ”, Matthias Schmidt, John Kirkwood, —, Kirkwood, Warren Buffett, Ursula von der Leyen, Alfa, China’s EVs, Carlos Tavares, we’re, Alexander Klose, ” Klose, Schmidt, Justin Nicholls, Nicholls Organizations: Volvo, Nissan, Skoda, Union, EV, Volkswagen Passat, Kia, MG, SAIC Motor, China’s, —, Lotus, Chinese Commerce Ministry, EU, World Trade Organization, Tesla’s, Peugeot, Citroen, Alfa Romeo, Fiat, Global, Wall Motors Locations: Copenhagen, Denmark, Europe, China, West, U.S, British, Western, France, Germany, Beijing, Shenyang, Shanghai, Israel

Volkswagen has said that cost-cutting plans would include focusing on fewer high-volume models as well as streamlining production of VW passenger cars, SEAT/CUPRA and Skoda. The Volkswagen brand has the company's highest sales volume by far, but margins traditionally lag behind luxury Audi and Porsche vehicles. A Volkswagen brand spokesperson confirmed that talks began with workers in early October and that it would not comment further on the timeline or content of discussions. Labour representatives, including the head of Volkswagen works council Daniela Cavallo, make up half of the company's supervisory board per German corporate governance law for large firms. A works council spokesperson confirmed a first meeting had taken place but declined to comment further on the timeline.

Persons: Matthias Rietschel, carmaker, Arno Antlitz, Brand, Thomas Schaefer, Daniela Cavallo, Cavallo, Victoria Waldersee, Christoph Steitz, Rod Nickel Organizations: Volkswagen Group, REUTERS, BERLIN, Volkswagen, VW, SEAT, Skoda, Porsche, Labour, Thomson Locations: Zwickau, Germany

☆ Police fined a car owner after a speed camera appeared to show a dog behind the wheel
▼ + stars: | 2023-09-30 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

A photograph taken by a speed camera in Slovakia appeared to show a dog behind the wheel of a car. Police said the vehicle owner claimed that his dog had suddenly jumped onto his lap. AdvertisementAdvertisementPolice in Slovakia have fined the owner of a car after a speed camera appeared to show a dog behind the wheel. The image captured by a speed camera appears to show only a dog in the driver's seat. AdvertisementAdvertisementA 31-year-old man, who was actually driving the vehicle, claimed that his dog had suddenly leapt onto his lap, according to the police.

Persons: —, hadn't Organizations: Police, Service, Facebook, USA Locations: Slovakia, Šterusy

☆ Volkswagen in 'advanced talks' with Mahindra on MEB platform
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsBERLIN, Sept 4 (Reuters) - Volkswagen (VOWG_p.DE) said on Monday that it is in advanced talks with India's Mahindra & Mahindra (MAHM.NS) on the use of key electric components of the German carmaker's open platform for electric vehicles, called MEB. Mahindra wants to use central MEB components such as the e-drive and unit cells for its models, said Volkswagen in a statement. Volkswagen has developed a modular, open vehicle platform for EVs, called MEB, which is used to build to its own cars and those of other group companies including Skoda and Audi. In August, Volkswagen and Mahindra signed a term sheet under which the German carmaker would supply electric components to its Indian peer.

Persons: Andrew Kelly, Miranda Murray, Friederike Heine Our Organizations: New York, REUTERS, Rights, India's Mahindra, Mahindra, Volkswagen, Skoda, Audi, Thomson Locations: Manhattan , New York City, U.S

☆ 'We are ready to engage': Europe's biggest carmakers brace for China's EV challenge
▼ + stars: | 2023-09-04 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

BMW CEO Oliver Zipse speaks during the presentation of the new BMW "New Class" during an event ahead of the IAA motor show in Munich. Europe's dominant position in the automotive sector was established over many decades through its capacity to build superior combustion engines. The German behemoth has already created automotive software company CARIAD, as well as partnering with Chinese EV startup Xpeng, joint venture partner SAIC and autonomous driving company Horizon Robotics. watch nowHe added that Volkswagen has established "huge cost initiatives" and sees big opportunities to scale up its EV production while reducing battery production costs by 50%. Our electricity costs compared to China or North America are too high," Skoda CEO Klaus Zellmer told CNBC on Monday.

Persons: Oliver Zipse, Christophe Périllat, Luca De Meo, Ampere, De Meo, CNBC's Annette Weisbach, Oliver Blume, " Blume, Blume, Klaus Zellmer, Joe Biden's, BEV, Zellmer Organizations: BMW, IAA, Getty, CNBC, Volkswagen, Renault, IAA Mobility, SAIC, Horizon Robotics, Volkswagen Group, CRU Group, Skoda Locations: Munich, China, Europe, North America, U.S, Canada, Spain, Germany

☆ Toyota halts production at Czech plant due to parts shortage
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

A Toyota Logo is seen at a Toyota dealership in Zaventem, Belgium, November 25, 2022. REUTERS/Johanna Geron/File Photo Acquire Licensing RightsPRAGUE, Aug 22 (Reuters) - The Czech plant of Japan's Toyota (7203.T) halted production due to a parts shortage caused by a fire at a local supplier, a spokesperson for the carmaker said on Tuesday. "We had to stop production yesterday evening. The outage is the second this year at the plant which produces 1,000 cars a day after a break in February. The Czech Republic is heavily dependent on the auto industry, led by Volkswagen's Skoda Auto (VOWG_p.DE).

Persons: Johanna Geron, Tomas Paroubek, Robert Muller, Kirsten Donovan Organizations: Toyota, REUTERS, Rights, Volkswagen's Skoda, Hyundai, Thomson Locations: Zaventem, Belgium, Czech, Czech Republic, KS

☆ VW cuts 2023 deliveries outlook, aims to boost cash flow
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +3 min

Supply of key components such as semiconductors had improved but transport and logistics delays weighed on the first half, Volkswagen said. Still, it expected significantly shorter waiting times in the second half and said demand was stable with order books full at 1.65 million vehicles. Reuters GraphicsWorldwide, the Volkswagen Group delivered 2.3 million vehicles in the period from April to June, 18% more than in the same period last year. The focus for the second half is now on strengthening net cash flow," said Chief Financial Officer Arno Antlitz. In May, Volkswagen said it had sold its shares in Volkswagen Group Rus to Art-Finance, which is supported by autodealer group Avilon.

Persons: DAX, Arno Antlitz, Cupra, Miranda Murray, Rachel More, David Goodman Organizations: VW, BERLIN, Volkswagen, Benz, Renault, Graphics Worldwide, Volkswagen Group, VW Commercial Vehicles, Skoda, Audi, Lamborghini, Bentley, Ducati, Reuters Graphics Reuters, Rus, Art, Finance, Victoria, Thomson Locations: Kaluga

☆ Volkswagen passenger cars targets 10 billion euros of efficiency gains
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +2 min

BERLIN, June 14 (Reuters) - Volkswagen's (VOWG_p.DE) passenger car brand will implement savings and cost-cutting measures amounting to 10 billion euros ($10.83 billion) by 2026 to hit a return on sales target of 6.5%, a spokesperson said on Wednesday. "The Volkswagen Group is focusing even more strongly on profitability and cash flow," Antlitz said in his post. Antlitz's statement came after Volkswagen brand chief Thomas Schaefer told workers in an internal memo in mid-May it was planning an overhaul at its core brand to put it on more solid footing. Volkswagen is due to present new financial targets and an updated corporate strategy for the entire group at a capital markets day next Wednesday. The carmaker's supervisory board was due to discuss on Tuesday cost-cutting measures across the Volkswagen, Seat, Skoda and Cupra brands to achieve that goal, a source told Reuters.

Persons: Arno Antlitz, Antlitz, Thomas Schaefer, Schaefer, Victoria Waldersee, Jan Schwartz, Miranda Murray, Kirsten Donovan Organizations: Skoda, SEAT, Volkswagen, Reuters, Thomson Locations: BERLIN, Spain

☆ Volkswagen supervisory board to discuss savings programme on Tuesday
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 12 (Reuters) - Volkswagen's (VOWG_p.DE) supervisory board will meet on Tuesday to discuss a planned savings programme ahead of its capital markets day on June 21, two sources close to the company said on Monday. The board will discuss cost-cutting measures amounting to at least 3 billion euros ($3.22 billion) across the Volkswagen, Seat, Skoda and Cupra brands, said one source. Germany daily Handelsblatt, which first reported on the savings programme, reported that Chief Executive Oliver Blume wants to curb duplicate development work and better utilise German plants, particularly at Audi and Volkswagen. Volkswagen brand chief Thomas Schaefer said in an internal memo in May that the brand was targeting a 6.5% return on sales, compared to 3% achieved in the first quarter of this year. The Volkswagen brand must act," he wrote at the time.

Persons: Oliver Blume, Arno Antlitz, Thomas Schaefer, Jan Schwartz, Miranda Murray, Victoria Waldersee, Susan Fenton Organizations: Volkswagen, Skoda, Audi, Group, Reuters, Thomson Locations: BERLIN, Germany

☆ VW's Skoda aims for six electric vehicle models by 2026
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: 1 min

PRAGUE, April 26 (Reuters) - Czech carmaker Skoda Auto, part of German group Volkswagen (VOWG_p.DE), wants to expand its electric vehicle range to six models by 2026, the company said, further boosting its ambitions in the shift to e-mobility. The company had previously aimed to launch three new electric models but said in a Tuesday evening release it will launch four new e-vehicles and two updated models in the coming years. The launches fall under Skoda's 5.6 billion euro ($6.16 billion) investment plan into e-mobility by 2027. ($1 = 0.9086 euros)Reporting by Jason Hovet, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ The Swedish rival to Tesla's Semi scores a deal with PepsiCo to deliver snacks in the UK
▼ + stars: | 2023-04-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Home appliances company GE Appliances began testing an Einride vehicle without a safety driver on board on U.S. public roads in October 2022. Einride said its U.K. vehicles will be driven by human operators. Operating electric trucks to ship goods across countries at scale is a tough thing to accomplish. "So we're looking at a transport system, where the efficiency is 6%," Falk said. "So that means that you are at 94% waste of the potential of the transport system itself.

☆ 4.screen, a startup that enables retailers to advertise to drivers through in-car displays, just raised $23 million with this 11-slide pitch deck
▼ + stars: | 2023-04-04 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

4.screen, a startup that enables retailers to advertise through in-car displays, just raised $23 million. A startup that enables retailers to advertise to drivers on the road and in real-time through a vehicle's connected display has raised $23 million in fresh funds. In addition to in-car video ads, the startup also displays search highlights, branded map pins, and in-car offers. The startup uses car sensor data allows the startup to be as specific as possible with its suggestions. "We make sure the right content is shown to the right partner at the right time — you only see a gas station when your fuel is low," cofounder and CEO Fabian Beste told Insider.

The EU has progressively tightened limits since "Euro 1" in 1992. The Commission's proposal widens real-driving emissions (RDE) testing and adds continuous testing of emissions via an on-board monitoring system. Euro 7 would take effect in mid-2025 for cars and in mid-2027 for trucks and buses. The European Commission estimates Euro 7 could add up to 150 euros to car prices and 2,600 euros for trucks and buses. A Commission spokesperson declined to comment on executives' statements, but said Euro 7's real-driving emissions tests were important because of "scandals in the past about cheating devices".

Stepan, 28, who has increasingly driven Chinese cars when using carsharing services, is among those that need convincing. If you want my honest opinion, the difference (with Chinese cars) is massive," he told Reuters at Moscow's Favorit Motors dealership. When buying his new Chinese car, Alexander, 74, looked for one which encompassed Swedish technology. While Chinese cars are increasingly filling the gap, the lack of reputation remains an issue, said auto industry expert Sergey Aslanyan. Chinese brands' market share reached 37.15% in January-February, up from 9.48% a year earlier, Autostat and PPK data showed.

☆ VW's Skoda would cut 3,000 jobs if 'Euro 7' implemented in current form
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +1 min

PRAGUE, March 19 (Reuters) - Czech carmaker Skoda would have to cut 3,000 jobs and axe some models if the European Union's "Euro 7" emissions scheme is implemented in its current form, a Skoda board member warned in a TV debate on Sunday. Daimler Trucks (DTGGe.DE) chief Martin Daum for instance said on March 10 it would cost the industry "billions". Overall, more than 10,000 jobs would be at risk in the Czech Republic, including at Skoda's suppliers, Jahn said. The three smaller models represented nearly a third of Skoda's deliveries to customers in 2022. Transport ministers from the Czech Republic, Germany, Italy, Poland, Portugal, Romania, Hungary and Slovakia met on Monday to discuss their efforts to change the Euro 7 proposal.

That left used cars accounting for almost three quarters of all cars sold, up from 55% in 2021, the data shows. Russians turn to used cars as production falls, prices rise"Money flowed into the used cars market as prices for second-hand cars held up, while at the same time the structure of the new cars market changed significantly," Autostat CEO Sergei Udalov told Reuters. At 2.5 million roubles, his Skoda was around 1 million roubles more expensive than it would have been a year earlier, but still 1 million roubles cheaper than a brand new version. Imports of used cars jumped last year, with those from Japan leading the way. Japan has curbed exports of high-value cars to Russia, but used cars imported by individuals fall outside the restrictions.

☆ VW's Skoda Auto cuts production due to chip shortage - trade unions
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

PRAGUE, Jan 30 (Reuters) - Volkswagen's (VOWG_p.DE) Czech subsidiary Skoda Auto is cutting production this week due to chip shortages, trade unions at the carmaker said. Some shifts will be cancelled in the production of the Octavia, Enyaq, Fabia, Scala and Kamiq models, the unions said. "After optimistic first weeks of the year, the production situation has been worsening again," the unions said in weekly bulletin Skodovacky Odborar. Reporting by Robert Muller; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

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