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☆ VW Taps Bentley Executive to Fix Software Unit
▼ + stars: | 2023-05-08 | by ( William Boston | ) www.wsj.com time to read: 1 min

Volkswagen CEO Oliver Blume says he wants software development to better line up with car launches. Photo: ALY SONG/REUTERSBERLIN— Volkswagen Chief Executive Officer Oliver Blume named a company insider to head the automaker’s struggling software unit as part of a broader overhaul of how the company develops the software for its cars, VW said on Monday. Mr. Blume put Cariad, the unit, under review after taking up the job late last year. Set up by his predecessor, Cariad had struggled to deliver glitch-free software on schedule, causing VW to postpone the launch of several models across its brands.

☆ Bentley production chief to lead Volkswagen's software overhaul - sources
▼ + stars: | 2023-05-08 | by ( Jan Schwartz | ) www.reuters.com time to read: +2 min

May 8 (Reuters) - Volkswagen (VOWG_p.DE) will announce later on Monday the removal of leadership at its troubled software arm Cariad and the appointment of Bentley production chief Peter Bosch to take the unit's helm, two sources close to the company said. Volkswagen is set to dismiss all but one of the unit's current executive board members, with only human resources head Rainer Zugehoer to remain. Bosch will also take over financial management at Cariad, the sources said, confirming an earlier report by Handelsblatt. Sources said at the time that Diess' failure to put Cariad, a business he set up, on a solid footing contributed to his ousting. Reporting by Jan Schwartz, Writing by Victoria Waldersee, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ VW’s New CEO to Replace Management of Ailing Software Unit
▼ + stars: | 2023-05-07 | by ( William Boston | ) www.wsj.com time to read: 1 min

People look at the cars in the Cariad booth at this year’s Consumer Electronics Show in Las Vegas. Photo: Jacob Kepler for The Wall Street JournalBERLIN— Volkswagen Chief Executive Officer Oliver Blume , in his first major restructuring move since becoming chief last year, will replace the management of the company’s struggling software unit after it caused delays to new model launches, according to a person familiar with the matter. Dirk Hilgenberg , head of the unit called Cariad, finance chief Thomas Sedran , and Lynn Longo, a Michigan native who serves as Cariad’s chief technology officer, could be ousted as early as this week, possibly after VW’s planned shareholder meeting on Wednesday, the person said.

☆ VW’s New CEO Expected to Replace Management of Ailing Software Unit
▼ + stars: | 2023-05-07 | by ( William Boston | ) www.wsj.com time to read: 1 min

Cariad, which had a booth at this year’s Consumer Electronics Show, held the company’s brands back from moving faster. Photo: Jacob Kepler for The Wall Street JournalBERLIN— Volkswagen Chief Executive Officer Oliver Blume , in his first major restructuring move since becoming chief last year, is expected to replace the management of the company’s struggling software unit after it caused delays to new model launches, according to people familiar with the matter. The decision to remove Dirk Hilgenberg , head of the unit called Cariad, finance chief Thomas Sedran , and Lynn Longo , a Michigan native who serves as Cariad’s chief technology officer, could be announced as early as this week, possibly before VW’s planned shareholder meeting on Wednesday, the people said.

☆ VW to fire top executives at software unit Cariad, source says
▼ + stars: | 2023-05-06 | by ( Jan Schwartz | ) www.reuters.com time to read: +1 min

The unit - set up under former VW group CEO Herbert Diess -has exceeded its budget and failed to meet goals, contributing to Diess' departure and replacement by Oliver Blume last September. A VW spokesperson said the German company was analysing Cariad and its projects. A number of decisions have been made, but no decisions on personnel, the spokesperson said, adding that Cariad and vehicle software development remained integral to Volkswagen's group strategy. The problems at Cariad have delayed work on important new vehicle models Porsche e-Macan and Audi Q6 e-tron. The planned launch of company-wide structural car software, initially designed to enable the fourth of five levels of autonomous driving from 2026, has been postponed by two years.

☆ ‘Are You There God? It’s Me, Margaret’ Arrives
▼ + stars: | 2023-04-29 | by ( Melissa Kirsch | ) www.nytimes.com time to read: +1 min

If you ask any kids who grew up reading Judy Blume, they’ll tell you precisely what they learned from each of Blume’s books; which taboo rites of passage each book introduced; probably even where they were, physically and developmentally, when they first stumbled on this information. They might very well remember the precise page number of the paperback that was passed around middle school on which the most eye-opening passages appeared. I recently reread her classic, “Are You There God? It’s Me, Margaret,” in advance of seeing the film adaptation that opens this week, 52 years after the book’s publication. In my memory, “Margaret” was chiefly about puberty, specifically about getting your period for the first time.

☆ Judy Blume’s Classic Hits Screens 50 Years Later. Luckily, Puberty Is Still Awkward.
▼ + stars: | 2023-04-28 | by ( Ellen Gamerman | ) www.wsj.com time to read: 1 min

It’s Me, Margaret,’ Margaret and her friends navigate the perils of tweendom. Photo: Lions Gate/Courtesy Everett CollectionIt was an intimate day on the set of “Are You There God? It’s Me, Margaret,” the first movie adaptation of one of American publishing’s defining coming-of-age novels. The scene involved the title character putting a sanitary pad in her underwear for the first time. “This whole time,” a middle-aged man in the crew confided to the director, “I thought the sticky side went up.”

☆ ‘Are You There God? It’s Me, Margaret’ Review: A Candid Kids’ Classic Comes to the Screen
▼ + stars: | 2023-04-28 | by ( Kyle Smith | ) www.wsj.com time to read: 1 min

Can people under 40 even conceive of an American culture that wasn’t obsessively focused on youth? In the early ’70s, when Judy Blume ’s heartfelt coming-of-age novel “Are You There God? It’s Me, Margaret” hit shelves, stories for youngsters based in everyday realism were rare. A sixth-grader, Ms. Blume’s diffident, self-conscious heroine anxiously asks God about her many worries, which include not yet having developed breasts nor experienced her first period. This level of frankness was nearly revolutionary at the time, and so the book was treasured as tweener samizdat.

☆ Where the trucking and rail recession is showing up in the economic data
▼ + stars: | 2023-04-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

The decrease negatively impacts earnings for both trucking and rail where revenue is generated by moving freight. Ocean freight orders are a leading indicator of train and trucking earnings since 90% of the world's trade moves by water. This is one of three key supply chain charts that are signaling more financial potholes for trucking and rail companies. West Coast ports have been losing trade to both the East Coast ports and Gulf ports as a result of prolonged labor negotiations, though union representatives indicated last week a "tentative agreement" had been reached, but no details were provided. Trucking is needed for both container pick up at the ocean terminals and rail ramps.

☆ ‘Are You There God? It’s Me, Margaret’ Review: Periods and Question Marks
▼ + stars: | 2023-04-27 | by ( Lisa Kennedy | ) www.nytimes.com time to read: +1 min

It is 1970 and the almost-12-year-old Margaret Simon returns from summer camp to boxes strewn about her family’s jammed New York City apartment. Because she and her parents are moving to New Jersey, her grandmother blurts out before her folks can ease their only child into the news. And so begins the yearlong adventure at the heart of this pitch-perfect adaptation of the author Judy Blume’s “Are You There God? Rachel McAdams and Benny Safdie portray Margaret’s youthful parents, Barbara and Herb. Kathy Bates is Margaret’s paternal grandmother, Sylvia, of the aforementioned blurt.

☆ Why ‘Are You There, God? It’s Me, Margaret’ Still Matters
▼ + stars: | 2023-04-27 | by ( Elisabeth Egan | ) www.nytimes.com time to read: +1 min

When I arrived at the Crosby Street Hotel for a screening of “Are You There, God? It’s Me, Margaret?,” a man in the lobby located my name on a list, then directed me to a line for the coat check. Mine said, “Are You There, God? It’s Me, Elisabeth.”Unfortunately, I’d stopped reading the invitation after “Please join us for an afternoon with Judy Blume”; what more did I need to know? I was Margaret, too.

☆ A Judy Blume Classic on Film and More: The Week in Reporter Reads
▼ + stars: | 2023-04-21 | by ( ) www.nytimes.com time to read: +1 min

At her first full-time job since leaving influencing, the erstwhile smoothie-bowl virtuoso Lee Tilghman stunned a new co-worker with her enthusiasm for the 9-to-5 grind. She had earned north of $300,000 a year — and then dropped more than 150,000 followers, her entire management team, and most of her savings to become an I.R.L. The corporate gig, as a social media director for a tech platform, was a revelation. “I could just show up to work and do work,” Ms. Tilghman said. Ms. Tilghman, 33, recalled the encounter late last month during a 90-minute, $40 Zoom workshop she held to guide other creators through the process of leaving influencing.

☆ ‘Judy Blume Forever’ Review: The Y.A. Author Who Went There First
▼ + stars: | 2023-04-20 | by ( Claire Shaffer | ) www.nytimes.com time to read: +1 min

There are few living children’s authors who have connected as deeply to their readers as Judy Blume. That’s the argument of “Judy Blume Forever,” a new documentary from Davina Pardo and Leah Wolchok that pays unwavering tribute to Blume and her imprint on young adult literature. It’s not uncommon to hear fans of Blume’s work say that reading her books felt as though she was speaking directly to them through the pages. This is thanks, in no small part, to her frank discussion of mature themes that, at the time she was writing, were considered unusual for what we now call Y.A. novels: adolescent sexuality, religion, disability, bullying, and — in many of her books — the unfair expectations of purity and obedience that parents and society place on children.

Bharadwaj, a former India managing director of Sequoia Capital who now leads venture capital firm A91 Partners. Indian VC firm Blume Ventures said in an April report consumption outside the top 30 million Indian households dropped sharply, and is driven by a "tiny superuser set". "Indian startups are not catering to a billion consumers. And only 271 Indian startups raised funding in Q1 2023, compared with 561 last year, according to CB Insights. It invested $3 billion in Indian companies in 2021 and another $500 million in 2022, by April that year, Reuters calculations show.

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☆ The Best Book Judy Blume Ever Got as a Gift? ‘Lady Chatterley’s Lover.’
▼ + stars: | 2023-04-19 | by ( ) www.nytimes.com time to read: +1 min

I’m about to start Rebecca Makkai’s “I Have Some Questions for You.” I just finished “Still Pictures,” by Janet Malcolm. Yesterday afternoon I read a graphic memoir, “Gender Queer,” by Maia Kobabe, the most banned book in the country right now. Books I’ve finished but still in the pile: “Ms. A train is good but how often am I on a train these days? So maybe the best place for reading is sitting on my balcony overlooking the ocean (I know, right?).

☆ BMW: e-fuels have highest impact for current fleet, not new cars
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 15 (Reuters) - BMW (BMWG.DE) Chief Executive Oliver Zipse said he viewed e-fuels as having the biggest impact for decarbonising transport if used in existing car fleets, rather than in new cars as was being discussed in Europe. "The main impact of e-fuels is on existing fleets, not in the regulation of new vehicles being hotly discussed in Europe," Zipse said. The only opportunity to make a difference there is e-fuels. I agree strongly with the colleagues proposing that, particularly because our motors are prepared for it," he added. Oliver Blume, chief executive of Porsche (P911_p.DE) and Volkswagen, (VOWG_p.DE), lobbied strongly in the annual press conferences of both companies earlier this week for being open to using e-fuels, calling on politicians to incentivise their production.

☆ Volkswagen invests in batteries, raw materials in race for affordable EV
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

Over two-thirds of the company's five-year investment budget announced on Tuesday is allocated to electrification and digitalisation, including up to 15 billion for batteries and raw materials. Volkswagen, Europe's top carmaker, is striving to close a gap with electric vehicle (EV) pioneer Tesla (TSLA.O) by expanding its slice of the growing market for battery-powered cars. Buzz EV car, on the day of the annual news conference of the Volkswagen Group at DRIVE.Volkswagen Group Forum, in Berlin, Germany March 14, 2023. Volkswagen met analysts' expectations in 2022 on revenues but missed the consensus estimate for earnings before interest and taxes by 3%. The most likely actual stock market candidate is battery unit PowerCo.

☆ Volkswagen: still targeting an affordable EV by 2025
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] A model of a Volkswagen Bus is seen before the annual news conference of the Volkswagen Group at DRIVE.Volkswagen Group Forum, in Berlin, Germany March 14, 2023. REUTERS/Annegret HilseBERLIN, March 14 (Reuters) - Volkswagen (VOWG_p.DE) still wants to bring an affordable electric vehicle - costing around 25,000 euros ($26,790.00) in today's prices - to market by 2025, the carmaker said on Tuesday, describing it as a model below the ID.3. "We will have significant scale by then... our Valencia plant cell factory gives us additional improvement on the cell side. By then we (will) hopefully have also made significant progress in attaining a significant supply (of) raw materials," Chief Financial Officer Arno Antlitz said on an analyst call. ($1 = 0.9332 euros)Reporting by Victoria Waldersee Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen to invest $193 billion over 5 years to hit EV target
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

[1/2] The logo of carmaker Volkswagen Commercial Vehicles is pictured at the IAA Transportation fair, which opened its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. The investments come as Volkswagen, Europe's top carmaker, tries to close a gap with electric vehicle (EV) pioneer Tesla (TSLA.O) by expanding its slice of the growing market for battery-powered cars. In the latest investment plan, up to 15 billion euros is ringfenced for battery plants and raw materials. VW outperforms EU rivalsThe investment decisions are targeted towards fulfilling a 10-point plan developed by Volkswagen CEO Oliver Blume after he took the helm in September. The most likely actual stock market candidate is battery unit PowerCo.

☆ Volkswagen to invest $193 bln over 5 years to help meet EV target
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

Companies Volkswagen AG FollowBERLIN, March 14 (Reuters) - Volkswagen (VOWG_p.DE) plans to invest 180 billion euros ($192.76 billion) over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending on combustion engines to decline from 2025. In the latest plan, 15 billion euros is ringfenced for battery plants and raw materials and 2 billion euros will be put toward a plant in North Carolina for its Scout brand. Later on Tuesday, Volkswagen is also expected to share the results of a 'virtual equity story' exercise instigated by Blume. On Monday, Volkswagen announced its first battery cell plant outside of Europe would be in Canada, with production to start from 2027. ($1 = 0.9338 euros)Reporting by Victoria Waldersee, Editing by Rachel More and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen announces five-year $193 billion investment plan as electrification gathers pace
▼ + stars: | 2023-03-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

People look at the Volkswagen id buzz electric car during the press day at the Los Angeles Auto Show in Los Angeles, California, November 17, 2022. Volkswagen on Tuesday announced plans to invest 180 billion euros ($192.6 billion) between 2023 and 2027, with more than two thirds targeting "electrification and digitalization." The BEV expansion was driven by a 68% spike in China, while the company also completed the landmark electrification of its plant in Chattanooga, Tennessee. However, overall delivery numbers declined by 7% to 8.3 million vehicles in 2022 and the automotive division's net cash flows decreased to 4.8 billion euros from 8.6 billion euros in 2021. Volkswagen Group CFO & COO Arno Antlitz said the strong financial position should enable the company to "continue investing in electrification and digitalization" even in a "challenging economic environment."

☆ Volkswagen: to share results of mock listing exercise in June
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: 1 min

BERLIN, March 14 (Reuters) - Volkswagen (VOWG_p.DE) will share the outcome of a mock listing exercise for its brands and Volkswagen Group instigated by Chief Executive Oliver Blume at a capital markets day on June 21, Blume said on Tuesday. The carmaker intended to keep its combustion engine models competitive for as long as they are on the market but was shifting to being a technology and mobility company, Chief Financial Officer Arno Antlitz added. Blume also said the carmaker was finalising a high-performance software for luxury and premium brands, which would be brought into a software architecture for the whole company in the medium term. Reporting by Victoria Waldersee; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen to invest $193 billion to hit EV target, picks Canada for battery cell plant
▼ + stars: | 2023-03-14 | by ( ) edition.cnn.com time to read: +3 min

Volkswagen plans to invest 180 billion euros ($193 billion) over five years in areas including battery production and the sourcing of raw materials in a bid to cut electric vehicle costs and protect its market share, it said Tuesday. Over two-thirds of the company’s five-year investment budget is allocated to electrification and digitalization, including up to 15 billion ($16 billion) for batteries and raw materials. Volkswagen board member Thomas Schmall Ronny Hartmann/AFP/Getty Images/FileOn Monday, board member Thomas Schmall also announced that Volkswagen’s first North American battery cell factory would be in Canada, with production starting in 2027. The carmaker is still aiming to bring an affordable EV — costing around 25,000 euros ($26,795) at today’s prices — to market by 2025. The most likely actual stock market candidate is battery unit PowerCo.

☆ Porsche CEO: There is no conflict between e-mobility and e-fuels
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: 1 min

WOLFSBURG, March 13 (Reuters) - Porsche (P911_p.DE) CEO Oliver Blume characterised the debate over e-fuels as "emotional" and said there was no conflict between electrification and building out e-fuel production during a press call on Monday following the carmaker's results. Porsche is the strongest advocate for e-fuels as a carbon-free way of driving combustion engine cars among all German carmakers amid a debate in Europe over whether to allow new combustion engines to be powered by e-fuels after 2035. "We can adjust tax politics to make e-fuels cheaper ... politics should support investments to make prices more attractive," Blume said. I know no other possibility to decarbonise combustion engine cars." Reporting by Victoria Waldersee, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

☆ Porsche's CEO discusses the company's record 2022 earnings
▼ + stars: | 2023-03-13 | 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 EmailPorsche's CEO discusses the company's record 2022 earningsOliver Blume, CEO of Porsche, says the company has had a "very positive product mix."

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