DIRS.INFO The most relevant business & tech news

☆ Volkswagen brand will be electric-only carmaker in Europe from 2033 - brand chief
▼ + stars: | 2022-10-26 | by ( Victoria Waldersee | ) www.reuters.com time to read: +1 min

FILE PHOTO: A technician attaches a Volkswagen logo to a car, at the production line for electric car models of the Volkswagen Group, in Zwickau, Germany, April 26, 2022. REUTERS/Matthias RietschelBERLIN (Reuters) - The Volkswagen brand will only produce electric cars in Europe from 2033, its boss Thomas Schaefer said on Wednesday, committing to the earlier date in its previous 2033-2035 target. The carmaker is targeting an entry-level electric vehicle for 25,000 euros or less. Schaefer said improving and standardising battery chemistry and format was the key to achieving this goal, as well as producing at scale. “The only company that can scale on this territory at the moment is us,” the chief executive said.

☆ Ford, VW pull plug on robotaxis in blow to self-driving car industry
▼ + stars: | 2022-10-26 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +3 min

Ford said Wednesday that it had concluded that the large-scale profitable commercialization of self-driving cars was further out then expected. Some Argo AI employees will join Ford for that work, Farley said. The company was developing robotaxis, self-driving vehicles that can operate in a ridehail service that does not require human drivers. The team effort allowed Ford and VW to share the hefty costs of developing self-driving cars. Companies have found that developing self-driving cars is incredibly expensive.

☆ Exclusive emails show Austin officials bragging about its lack of oversight of a new self-driving delivery service from Ford and Argo AI
▼ + stars: | 2022-10-24 | by ( Caroline Haskins | ) www.businessinsider.com time to read: +5 min

Several cities launched an autonomous vehicle delivery service for Walmart orders with Ford vehicles using Argo AI's self-driving car technology. In 2016, Arizona Governor Doug Ducey announced Uber's self-driving car pilot by proclaiming that Arizona "welcomes Uber self-driving cars" while states with regulatory laws do not. Part of the companies' motivation for the self-driving car delivery service is the drive to meet Walmart's consumer demands for "next-day or same-day delivery." Argo AI was founded in 2016 by two former engineers from Google and Uber's self-driving car programs, respectively. Argo AI hired more than 1,700 people in 6 years but laid off many of its recruiters in July.

☆ Spain frontloads subsidies for electric car projects as VW appears in doubt
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

Industry Ministry said that the subsidies to be disbursed this year under the so-called PERTE scheme using EU pandemic relief funds would rise to 877 million euros ($860 million) from 600 million euros, meaning the total planned amount of nearly 3 billion will be slightly more front-loaded. Volkswagen's Spanish unit SEAT, the Volkswagen Group and 60 associated companies want to mobilise 10 billion euros to electrify the automotive industry in Spain and turn the country into a hub for electric mobility in Europe, producing electric cars and batteries. Other projects vying for the funds focus mainly on batteries. SEAT was allocated 167 million euros in the PERTE programme's first provisional results announced on Aug. 1. "We will keep working with the VW-SEAT group and other producers for Spain to be a global reference for electric cars, including batteries," Prime Minister Pedro Sanchez said.

☆ Investors file lawsuit against VW over climate-change related lobbying disclosures
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Oct 20 (Reuters) - Six Volkswagen investors filed a case against the carmaker this week for refusing to discuss at its annual general meeting (AGM) whether its lobbying activities could threaten their investments, the investors said. This exposes the company, and their investments - representing around 0.1% of Volkswagen shares - to operational and reputational damage, they argued in a statement. "We share the view that aspects relevant to climate protection deserve even higher priority in reporting and are currently considering various approaches," the spokesperson added. "It is worrying that our shareholder right to contribute to the annual meeting agenda has been refused. Register now for FREE unlimited access to Reuters.com RegisterReporting by Victoria Waldersee; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ Automakers need more time to meet U.S. minerals requirements for EVs -execs
▼ + stars: | 2022-10-19 | by ( Ben Klayman | ) www.reuters.com time to read: +5 min

"We believe it's unfair," he added, pointing out that none of the South Korean automaker's EVs qualify for the credit. Munoz said U.S. legislators should offer companies investing in the United States some type of waiver or a longer transition period. Automakers are trying to figure out how their vehicles will meet the new law's requirements to qualify for EV tax credits. Details of the act are still being ironed out and the U.S. Treasury is currently taking comments on how to implement the rules around the EV tax credits. "We're pretty well positioned," he said at the Reuters conference, citing the Detroit automaker's four U.S. battery plants the company has announced and its raw materials supply deals.

☆ Waymo to expand robotaxi service to Los Angeles
▼ + stars: | 2022-10-19 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Waymo, the robotaxi provider of Google’s parent company Alphabet, said Wednesday that it will expand its ridehail service to Los Angeles. It is taking steps towards offering public robotaxi trips in San Francisco as well as downtown Phoenix, which is close to Chandler. Waymo began operating robotaxis in Arizona in 2017 and opened the service to the public in October 2020. Last year one Waymo robotaxi became stranded on a road while carrying a passenger and then unexpectedly drove away as the company’s roadside assistance arrived. Google gave the first robotaxi ride in October 2015 to a blind man in Austin, Texas.

☆ Volkswagen to invest up to 2 bln euros in JV with China's Horizon Robotics - reports
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid/File PhotoBERLIN, Oct 12 (Reuters) - Volkswagen (VOWG_p.DE) plans to to invest up to 2 billion euros ($1.94 billion) in a joint venture with China's Horizon Robotics, Handelsblatt and Manager Magazin reported on Wednesday. Reuters reported earlier that VW planned a significant investment in a joint venture in the country for software production. It operates numerous joint ventures in China, holding a 75% stake in its venture with JAC (600418.SS), a 50% stake with SAIC (600104.SS) and 40% with FAW (SASACJ.UL). ($1 = 1.0304 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Kirsti Knolle, Victoria Waldersee, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla's autopilot software is under investigation in Europe following a tweet
▼ + stars: | 2022-10-12 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +4 min

Green tweeted that Tesla recently added the name of an Australian and Asian vehicle testing ground to its software. There are other vehicle testing grounds also listed in the code, he said, located in Europe, China and Korea. Important tests that benchmark vehicle safety happen at these sites, which have government and industry support. Now Euro NCAP, Europe’s government-backed organization that evaluates vehicle safety, is investigating Tesla following this suggestion. The organization has examined Tesla’s software updates to test vehicles and not found any fault, Williams said.

☆ A tweet launched an investigation into Tesla’s Autopilot software
▼ + stars: | 2022-10-12 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +4 min

Green tweeted that Tesla recently added the name of an Australian and Asian vehicle testing ground to its software. There are other vehicle testing grounds also listed in the code, he said, located in Europe, China and Korea. Important tests that benchmark vehicle safety happen at these sites, which have government and industry support. The organization has examined Tesla’s software updates to test vehicles and not found any fault, Williams said. Though there is no indication that Tesla software is interfering with any testing, It’s not unheard of for an automaker to use software to manipulate a test.

☆ Porsche IPO Blazes Trail for Other Auto Makers
▼ + stars: | 2022-09-29 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Investors don’t always hate traditional car makers, it turns out. From Germany to Detroit, the whole auto industry needs to learn from the success of Porsche’s initial public offering. Shares in the sports car brand rose less than 1% on their first trading day Thursday, giving it a market value of about €75 billion, equivalent to roughly $73.5 billion. Parent company Volkswagen and its advisers were trying to pull off a balancing act with the IPO price. Price it too low and they would confirm investors’ worst fears that VW is incurably in thrall to its controlling shareholder, the Porsche and Piëch family investment vehicle, which got half of the Porsche shares VW just sold.

☆ The long, winding road to Volkswagen's Porsche IPO
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +5 min

October - Porsche SE says it holds stock and options that give it control of 74% of Volkswagen's votes and announces plans for a "domination" agreement. 2012July - Volkswagen agrees to buy the remaining 50.1% stake in Porsche AG from Porsche SE for about 4.5 billion euros. Porsche AG, the carmaker, is now fully owned by Volkswagen AG, while Porsche SE, which is controlled by the Porsche and Piech families, is Volkswagen's largest shareholder and holds a majority of voting rights. 2022February - Volkswagen and Porsche SE say they are examining a possible initial public offering of Porsche AG, under a proposed structure that would give Porsche SE a blocking minority in the eponymous carmaker. On Sept. 29, shares in Porsche AG start trading on the Frankfurt stock exchange at 84 euros apiece, above the issue price of 82.5 euros.

☆ VW Prices Porsche IPO at Top of Range
▼ + stars: | 2022-09-28 | by ( Ben Dummett | ) www.wsj.com time to read: 1 min

Porsche shares are set to start trading on Thursday on the Frankfurt exchange. Germany’s Volkswagen said Wednesday it had priced the initial public offering of Porsche at the top end of the targeted range, putting the IPO on track to become one of Europe’s largest in more than a decade. The pricing signaled investors’ confidence that the iconic sports-car maker can thrive even as rising interest rates and rampant inflation rile equity markets.

☆ New: Jay and Fluffy Check out the Safety of the VW ID Buzz!
▼ + stars: | 2022-09-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew: Jay and Fluffy Check out the Safety of the VW ID Buzz! Comedian Gabriel Iglesias and Jay Leno investigate the differences between the iconic VW Bus and the new VW ID Buzz, including new safety features!

☆ German producer prices post surprise record jump in August
▼ + stars: | 2022-09-20 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

Swen Pfoertner/Pool via REUTERS/File PhotoBERLIN (Reuters) -German producer prices rose in August at their strongest rate since records began both in annual and monthly terms, driven mainly by soaring energy prices, according to data released on Tuesday. Producer prices of industrial products increased by 45.8% on the same month last year, the Federal Statistical Office reported. Compared to July 2022, prices rose 7.9%, it added. Excluding energy, the year-on-year rise in producer prices came in at 14% in August. Producer prices for intermediate goods also rose significantly, up 17.5% on the year, driven mainly by a 19.9% surge in the price of metals.

☆ VW Sets Price Range for Porsche IPO
▼ + stars: | 2022-09-20 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN— Porsche AG shares are set to begin trading Sept. 29 in one of the largest European public listings in years, raising up to $9.4 billion and valuing the sports car maker at as much as $78 billion. Porsche’s parent, German car giant Volkswagen AG priced the public offering of preferred stock in line with average analyst expectations. Combined with a private sale of Porsche ordinary stock to VW’s largest investor, Porsche Automobil Holding SE, the sale of 25% of Porsche could raise €19.5 billion for VW, equivalent to $19.5 billion.

☆ VW Sets Price Range for Porsche IPO, Valuing Car Maker at Up to $78 Billion
▼ + stars: | 2022-09-19 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN— Porsche shares are set to begin trading Sept. 29 in one of the largest European public listings in years, raising up to $9.4 billion and valuing the sports car maker at as much as $78 billion. Porsche’s parent, German car giant Volkswagen priced the public offering of preferred stock in line with average analyst expectations. Combined with a private sale of Porsche ordinary stock to VW’s largest investor, Porsche Automobil Holding SE, the sale of 25% of Porsche could raise €19.5 billion for VW, the equivalent of $19.5 billion.

☆ VW Prices Porsche IPO, Valuing Car Maker at Up to $78 Billion
▼ + stars: | 2022-09-19 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN— Porsche shares will begin trading on Sept. 29 in one of the largest European public listings in years, raising up to $9.4 billion and valuing the sports car maker at as much as $78 billion. Porsche’s parent, German car giant Volkswagen priced the public offering of preferred stock in line with average analyst expectations. Combined with a private sale of Porsche ordinary stock to VW’s largest investor, Porsche Automobil Holding SE, the sale of 25% of Porsche could raise €19.5 billion for VW, the equivalent of $19.5 billion.

☆ Volkswagen shares dip as it values Porsche at up to $75 bln
▼ + stars: | 2022-09-19 | by ( Victoria Waldersee | ) www.reuters.com time to read: +5 min

"It is fundamentally right that Porsche AG becomes more independent - but this is not an independent set-up." Shares in Porsche SE (PSHG_p.DE), Volkswagen's largest shareholder which will take a big stake in Porsche AG, were 2.42% higher, topping Germany's DAX blue-chip index (.GDAXI). read moreVolkswagen said on Sunday it would price preferred shares in the flotation of Porsche AG at 76.50-82.50 euros per share. Analysts have compared Porsche AG stock to Ferrari (RACE.MI), which has a market capitalisation of 38 billion euros but an operating margin of 24% to Porsche's 17-18%. Total proceeds from the sale will be 18.1 billion to 19.5 billion euros.

☆ Porsche IPO has two investor roadblocks to clear
▼ + stars: | 2022-09-16 | by ( Neil Unmack | ) www.reuters.com time to read: +5 min

The 2020 Porsche 911 Carrera 4S is introduced during a Porsche press conference at the Los Angeles Auto Show in Los Angeles, California, U.S., November 28, 2018. Porsche’s valuation rests on how closely it can mimic peer Ferrari (RACE.MI), and what discount should be applied to its complex governance. VW’s influence in Porsche will be diluted by Porsche SE’s stake. Volkswagen will divide Porsche’s shares into voting ordinary and preferred shares, which carry no voting rights. Porsche’s valuation is likely to be between 70 billion euros and 80 billion euros, Reuters reported, citing a source close to the matter.

☆ We got a close-up look at the Volkswagen ID.Buzz — see inside VW's nostalgic electric minivan
▼ + stars: | 2022-04-16 | by ( Tim Levin | ) www.businessinsider.com time to read: 1 min

If you're a fan of all this cuteness and you live in the US, you'll have to wait a while. Commercial and passenger ID.Buzz models go on sale in Europe later this year, but it only hits US shores in 2024. The Volkswagen ID.Buzz. Tim Levin/Insider

☆ В центре Кишинёва три автомобиля не поделили перекрёсток
▼ + stars: | 2021-07-08 | by ( Ольга Донцова | ) aif.md time to read: 1 min

0Цепная авария произошла этим утром на пересечении улиц Михаила Когэлничану и Митрополита Бэнулеску-Бодони. По данным полиции, участниками ДТП стали BMW, VW Polo и Hyundai. Как пишет unimedia.info, в результате инцидента никто не пострадал. Обстоятельства произошедшего устанавливаются, ведётся разбирательство. Подписывайтесь, чтобы быть в курсе всех событий в стране.

Persons: Михаил Когэлничану, Митрополит БэнулескуБодони Organizations: BMW, VW Polo Hyundai

Oamenii legii au fost alertați în jurul orei 07:31, prin intermediul serviciului 112 precum că la intersecția str. B. Bodoni, s-a produs un accident rutier. Ajunși la fața locului, polițiștii au stabilit că sunt implicate 3 unități de transport, un automobil BMW condus de o șoferiță de 39 ani, un automobil VW Polo, la volanul căruia se afla un șofer de 29 de ani și o mașină marca Hyundai, condusă de o șoferiță în vârstă de 41 ani. În urma impactului nimeni nu a avut de pătimit. Pe caz a fost inițiată o anchetă în stabilirea tuturor circumstanțelor și care din ei se face vinovat.

Persons: M . Kogălniceanu, B . Bodoni Organizations: VW Polo, Hyundai

☆ Audi renunță din 2026 la producerea mașinilor cu motor pe benzină și diesel
▼ + stars: | 2021-06-21 | by ( Onixmedia Srl | ) diez.md time to read: +1 min

Audi renunță din 2026 la producerea mașinilor cu motor pe benzină și dieselAudi renunţă din 2026 la maşinile cu motor pe benzină şi motorină. Audi, divizie a grupului german Volkswagen AG, va renunţa din 2026 la maşinile cu motor pe benzină şi motorină, a anunţat publicaţia Sueddeutsche Zeitung. Sursa informației este un anunț al şefului Audi, Markus Duesmann, către reprezentanţii companiei. Firma Volkswagen are ca obiectiv să livreze anul acesta un milion de vehicule electrice. Portofoliul grupului Volkswagen este format din 12 mărci, printre care automobilele VW, Audi, Porsche, Skoda, Lamborghini, Seat, Bentley şi Bugatti, dar şi camioanele MAN şi Scania.

Persons: Markus Duesmann Organizations: Audi, Constructorul, Volkswagen AG, Volkswagen, VW, Porsche, Skoda, Lamborghini, Seat, Bentley, MAN Locations: Scania

☆ Audi renunţă din 2026 la maşinile cu motor pe benzină şi motorină
▼ + stars: | 2021-06-19 | by ( ) www.jurnal.md time to read: +1 min

Sursa foto: audi.comAudi renunţă din 2026 la maşinile cu motor pe benzină şi motorinăAudi, divizie a grupului german Volkswagen AG, va renunţa din 2026 la maşinile cu motor pe benzină şi motorină, a anunţat publicaţia Sueddeutsche Zeitung, citând declaraţiile şefului Audi, Markus Duesmann, către reprezentanţii sindicatului şi ai conducerii companiei, transmite Reuters. De asemenea, nu vor mai fi vândute nici modele hibride din 2026, compania urmând să se concentreze pe vehiculele electrice. Un purtător de cuvânt al Audi nu a fost imediat disponibil pentru declaraţii. Firma mamă Volkswagen are ca obiectiv să livreze anul acesta un milion de vehicule electrice, scrie Agerpres. Portofoliul grupului Volkswagen este format din 12 mărci, printre care automobilele VW, Audi, Porsche, Skoda, Lamborghini, Seat, Bentley şi Bugatti, dar şi camioanele MAN şi Scania.

Persons: Zeitung, Markus Duesmann Organizations: Audi, Volkswagen AG, Reuters, Volkswagen, Agerpres, VW, Porsche, Skoda, Lamborghini, Seat, Bentley, MAN Locations: Scania

Search resuls for: "VW"

25 mentions found