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☆ Tesla's German battery plant and land extension on track, mayor says
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Sept 19 (Reuters) - Tesla (TSLA.O) has confirmed to the mayor of Gruenheide that its plans to operate the battery plant currently under construction in Germany are unchanged, mayor Arne Cristiani told Reuters on Monday. The plant is still being built," Cristiani said, referring to a report in the Wall Street Journal last week that Tesla was pausing its plans to make batteries in Germany. read moreCristiani also denied reports by local newspaper rbb last week that he had struck the topic of an extension to Tesla's land to be used for logistics purposes from the local council agenda, saying it was never on the agenda. The carmaker had applied for the extension in May and it was being discussed by the relevant community representatives, Cristiani said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Victoria Waldersee, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Employees of German car manufacturer Porsche install the windshield of a Porsche 911 at the Porsche factory in Stuttgart-Zuffenhausen, Germany, February 19, 2019. Volkswagen will price preferred shares in the flotation of Porsche AG at 76.50 euros to 82.50 euros per share, the carmaker said, translating into a valuation of 70 billion to 75 billion euros. Up to 113,875,000 preferred shares, carrying no voting rights, will be placed with investors over the course of the IPO. Total proceeds from the sale will be 18.1 billion to 19.5 billion euros. A stock exchange prospectus is expected to be published on Monday, after which institutional and private investors can subscribe to Porsche shares.

☆ European carmakers should wean off fossil fuels by 2040, Audi chief says
▼ + stars: | 2022-04-22 | by ( ) www.reuters.com time to read: +1 min

BERLIN, April 22 (Reuters) - Europe's carmakers should wean themselves off fossil fuels from 2040, chief executive of Volkswagen's (VOWG_p.DE) Audi said on Friday, calling for quicker expansion of renewable energy capacity in Bavaria, where Audi is based, and elsewhere. read more"Let's be courageous as Europeans and take it upon ourselves to give up on fossil fuels completely from 2040," Markus Duessmann said at a conference. Audi will stop selling combustion engine cars from 2033. Its parent Volkswagen will do so from 2035 in Europe and later in China and the United States, it has said. read moreStill, other carmakers like BMW have warned against focusing exclusively on producing electric vehicles too soon, with demand for combustion engines still high.

☆ Volkswagen focuses on regions to reduce supply chain vulnerability
▼ + stars: | 2022-04-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File PhotoBERLIN, April 19 (Reuters) - Volkswagen (VOWG_p.DE) said on Tuesday that a new growth plan would aim to reduce its vulnerability to the effects of global conflicts, such as supply chain disruption and rising prices, by divesting more power to its regions and brands. "The latest geopolitical changes and increased block-building have been exposing our global vulnerability, particularly with regards to the U.S.," Volkswagen Chief Executive Herbert Diess said in a LinkedIn post. read moreVolkswagen warned last week that it was feeling the impact of rising prices and supply chain bottlenecks, with deliveries in March down 37.3% from last year. read moreMercedes-Benz (MBGn.DE) Chief Technology Officer Markus Schaefer said last week that the German carmaker was also tightening its supply chains in light of global bottlenecks. Diess first announced a reshuffling of responsibilities at Volkswagen last December, after weeks of clashes between the CEO and labour unions over his leadership.

☆ BMW CEO warns against electric-only strategy
▼ + stars: | 2022-04-14 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +2 min

[1/2] BMW CEO Oliver Zipse speaks during a visit of the German Economic and Climate Protection Minister at the BMW plant in Munich, Germany, January 20, 2022. He has long advocated against all-out bans on combustion engine car sales in the face of rising pressure from regulators on the auto industry to curb its carbon emissions and environmental impact. Offering more fuel-efficient combustion engine cars was key both from a profit perspective and an environmental perspective, Zipse argued, pointing to gaps in charging infrastructure and the high price of electric vehicles. "How much energy you need and use, and circularity, is important - for environmental reasons but even more for economic reasons." Reporting by Doyinsola Oladipo; Writing by Victoria Waldersee; Editing by Christoph Steitz and Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

LISBON, Feb 22 (Reuters) - Heavy tug boats on Tuesday sprayed water on a ship off the coast of Portugal's Azore Islands which went on fire nearly a week ago carrying thousands of Porsches and Bentleys, an incident insurance experts said could result in $155 million in losses. The 22 crew members on board the ship, called the Felicity Ace, were evacuated the same day the fire broke out. Two large tug boats equipped with firefighting gear arrived from Gibraltar on Monday, and were working with another patrol boat to spray water at the Felicity Ace and cool it down, MOL said. "When conditions are safe the salvage team will board the Felicity Ace for an initial assessment," MOL added. Two other tug boats with more firefighting equipment were scheduled to arrive Feb. 23 and Feb. 26.

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