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☆ Volkswagen board discusses two new North America plants at meeting - sources
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowHAMBURG, March 3 (Reuters) - Volkswagen's (VOWG_p.DE) supervisory board will on Friday discuss plans for two new factories in North America, one production plant and one battery cell factory, two people familiar with the matter said. While the committee is expected to approve a site for its Scout brand in the United States, discussions around a gigafactory are open-ended, the sources said. Separately, Volkswagen CEO Oliver Blume in December said the carmaker had begun searching for a site for a battery cell factory in North America, adding Canada was "one logical option" due to its raw material resources. "We are still working hard to find a suitable location for our first gigafactory in North America and are in good, constructive talks," a Volkswagen spokesperson said on Friday, adding no decision has been made yet. Reporting by Jan Schwartz; Writing by Christoph Steitz, Editing bz Miranda Murray and Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ VW, Mercedes-Benz urge Berlin to accelerate EV charging network expansion, report says
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian BimmerBERLIN, Feb 19 (Reuters) - German carmakers Mercedes-Benz (MBGn.DE) and VW (VOWG_p.DE) have urged the government to do more to scale up the number of electric vehicle charging stations across the country, German paper Bild am Sonntag wrote on Sunday. "To speed up the change (to electric vehicles), we need to be sure that the charging station infrastructure is being built up," Mercedes-Benz Chief Executive Ola Kallenius was quoted as saying by the paper. VW Chief Executive Oliver Blume agreed more speed was needed and that the construction of charging stations was "a common task of the economy, federal government and communes". Industry associations, which have long complained the government has not kept pace with the rapid expansion of electric vehicles, said the implementation of the proposals was key. "The future of the car is electric," Kallenius was quoted as saying.

☆ From Apple to VW, CEOs Gradually Returning to China After Its Reopening
▼ + stars: | 2023-02-12 | by ( Dan Strumpf | Yoko Kubota | ) www.wsj.com time to read: 1 min

Volkswagen CEO Oliver Blume was among the first top executives from a multinational company to visit China since it scrapped most of its border restrictions. BEIJING—Top executives from multinational companies are trickling back into China with the country’s reopening, as Beijing seeks to restore confidence from global businesses in its struggling economy and attract investments. Volkswagen AG’s chief executive visited China from late January to early February, the company said, while Apple Inc. CEO Tim Cook and Pfizer Inc. CEO Albert Bourla are expected to visit next month, people familiar with the matter said. Ola Källenius , Mercedes-Benz Group AG’s chairman, also plans a visit to China, the company said.

☆ VW to speed up electric shift in five-year plan
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Feb 10 (Reuters) - Volkswagen (VOWG_p.DE) will speed up its shift to electric cars and revamp its software strategy in a five-year investment plan presented by management to the supervisory board on Friday, the automaker said in a statement. Bosses discussed how to rejig the German group's production network to accelerate the move to cleaner driving, the statement said, without elaborating. Full details of what was discussed will be presented at the company's annual media conference on March 14. A spokesperson for the works council denied the Handelsblatt report, saying jobs in Hannover were guaranteed under an agreement with the company until 2029. Reporting by Jan Schwartz; Writing by Victoria Waldersee; Editing by Jan Harvey and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen considering battery cell factory in Ontario - Handelsblatt
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 31 (Reuters) - Volkswagen (VOWG_p.DE) is looking at setting up a battery cell factory in Ontario, Canada, the Handelsblatt business daily reported on Tuesday, adding that the province had offered investments and other incentives to win over the carmaker. Five entries from January 2023 are listed in a lobby register of the Canadian province for Volkswagen, including one that mentions Chief Executive Oliver Blume by name, the report said, citing the documents. The carmaker confirmed in December it was searching for a site for a battery cell plant in North America, and Blume said at the time that Canada was "one logical option". The documents seen by Handelsblatt said that Ontario wanted to be "considered in competition with other locations in consideration." Reporting by Jan C Schwartz, Victoria Waldersee, Writing by Rachel More, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen keeping IPO option open for charging, energy business - division chief
▼ + stars: | 2023-01-23 | by ( Jan Schwartz | ) www.reuters.com time to read: +2 min

HAMBURG, Jan 23 (Reuters) - Volkswagen's (VOWG_p.DE) energy and charging division is keeping all options open for the long-term structure of the business, including a possible listing, the division's chief Elke Temme said in an interview with Reuters. "It won't take five more years," Temme predicted, adding that Volkswagen's electric vehicles on the MEB platform were equipped for the feature. "Cars will become part of the energy system," Temme said on Monday. "The energy industry and the car market are becoming more woven together." Reporting by Jan Schwartz, Writing by Victoria Waldersee, Editing by Rachel More, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ This Y Combinator-backed startup uses robots to clean wind turbines. Check out the 12-slide pitch deck Aerones used to raise $30 million.
▼ + stars: | 2023-01-16 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +2 min

A startup developing robots to clean and inspect wind turbines has just secured $30 million. We asked the company's CEO to walk us through the 12-slide pitch deck he used to raise the cash. A Y Combinator-backed startup developing robots to clean and inspect wind turbines has just secured $30 million. Latvian company Aerones has developed service robots to clean, inspect, and repair wind turbines. Wind turbines have a typical lifespan of 20 years, but better maintenance and efficiency could prolong this.

☆ VW's CARIAD software chief promises progress one jump at a time
▼ + stars: | 2023-01-09 | by ( Joseph White | ) www.reuters.com time to read: +3 min

[1/2] A technician works on the final inspection of an electric Volkswagen ID. REUTERS/Matthias Rietschel/DETROIT, Jan 9 (Reuters) - Volkswagen’s software division, CARIAD, has emerged from a review ordered by VW's new chief executive with a plan to work toward a unified software architecture for future vehicles one jump at a time, according to CARIAD chief Dirk Hilgenberg. “I call our program 'triple jump',” Hilgenberg told Reuters at the CES technology trade show in Las Vegas. “You do one jump after another.”The next key step will be the launch of the Porsche Macan SUV in 2024, which will have VW’s new premium software architecture. Volkswagen's current status is in-between: Software now deployed allows its "ID" electric vehicles to be updated remotely, with a fix for what Hilgenberg called “teething problems”.

☆ See the 13-slide pitch deck wellness startup Blume used to raise $1.8 million in 5 weeks
▼ + stars: | 2023-01-09 | by ( Amber Gibson | ) www.businessinsider.com time to read: +4 min

She recently raised 2.5 million Canadian dollars, or about $1.8 million, from investors like Judy Brooks. Her pitch deck focused on the sustainability of her business — here's what it looked like. In 2017, she took her creations and started Blume. "When I first started Blume, we didn't have barcodes on our packages, and we hand-stickered the packages in my living room," Danudjaja said. Here's the pitch deck she used for her first raise.

Neither could a fourth-grade teacher — or Judy Blume. It’s hard to fully grasp the enormous potential of ChatGPT, a new artificial intelligence chatbot released last month. We asked some experts on children’s writing to take our variation on the Turing test, live on a call with us. They were a fourth-grade teacher; a professional writing tutor; a Stanford education professor; and Judy Blume, the beloved children’s author. None of them could tell every time whether a child or a bot wrote the essay.

☆ Volkswagen: decision on location of battery plant in eastern Europe coming soon
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Dec 16 (Reuters) - Volkswagen will soon make a decision on the location of its planned battery plant in Eastern Europe and begin searching for a location in Canada, Chief Executive Oliver Blume said on Friday. "The decision on the location [of a battery plant] in eastern Europe will come shortly and in Canada we will begin looking for a location soon," Blume said, speaking at an extraordinary shareholder general meeting in Berlin. Reporting by Victoria Waldersee, Jan Schwartz Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

[1/2] Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermidSummarySummary Companies Volkswagen shareholders to vote on special dividend payout from Porsche listingCarmaker on "solid footing" - CEODecision on battery plant site in Eastern Europe "soon" - CEOBERLIN, Dec 16 (Reuters) - Volkswagen (VOWG_p.DE) shareholders gathered in Berlin on Friday to vote at an extraordinary general meeting on the payout of a special dividend of 19.06 euros ($20.28) per share from the proceeds of the listing of Porsche AG (P911_p.DE). A total of 9.6 billion euros, or 49% of the proceeds of the listing, will be paid out in January if shareholders vote in favour, as is widely expected. But through this it has also become clear that the current valuation of Volkswagen is imbalanced. ($1 = 0.9398 euros)Reporting by Victoria Waldersee, Jan Schwartz; editing by Rachel More and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Direct ChassisLink changes hands in $3.6 billion deal-sources
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

The deal marks a win for Apollo, which acquired a majority stake in Charlotte, North Carolina-based Direct ChassisLink and logistics and digital supply chain solutions company Blume Global from EQT in 2019 for around $2.5 billion, including debt. Excluding Blume's remaining value, Apollo made two times the money it invested, according to a person familiar with the matter. Blume separately raised money from outside investors in 2021 at a valuation of $500 million. Direct ChassisLink controls a fleet of over 151,000 marine and 100,000 domestic chassis. Reporting by David Carnevali in New York; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen CEO to present software 'reality check' to board on Dec 15
▼ + stars: | 2022-12-06 | by ( Jan Schwartz | ) www.reuters.com time to read: +2 min

HAMBURG, Dec 6 (Reuters) - Volkswagen's (VOWG_p.DE) CEO will outline a new software and vehicle platform strategy to the carmaker's supervisory board on Dec. 15 as he tries to turn his predecessor's vision into deliverable goals, three company sources told Reuters. But he was also criticised for sometimes erratic leadership, and in particular for delays and cost overruns at software arm Cariad. "First up is the software and the reality check in that area. Handelsblatt, which first reported the Dec. 15 board meeting, has said keeping software competitive to the end of the decade under Blume's new plans would cost 1 billion euros ($1.1 billion). ($1 = 0.9511 euros)Reporting by Jan Schwartz Writing by Victoria Waldersee Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen to discuss new software roadmap on Dec. 15 -Handelsblatt
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Dec 5 (Reuters) - Volkswagen (VOWG_p.DE) Chief Executive Oliver Blume will present a long-delayed new software strategy for the carmaker at a supervisory board meeting on Dec. 15, Handelsblatt newspaper reported on Monday, citing company sources. The Audi brand will hand over leadership on autonomous driving software to Volkswagen Commercial Vehicles, the report added. The supervisory board called in May for management to present a roadmap for the carmakers' software unit Cariad, after multiple years of delays to planned new software iterations and overspending. The board expected a new roadmap by the summer break, Reuters reported, but former Chief Executive Herbert Diess' departure from the company delayed plans. New chief Blume wants to first determine what the software will look like, and then the car models will follow, Handelsblatt reported.

☆ $1 million worth of Celtic gold coins was stolen from a German museum during a mysterious power outage
▼ + stars: | 2022-11-26 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +3 min

Over $1 million worth of ancient gold has been stolen in Germany, Bavarian State Police said. The 483 coins were stolen when unknown thieves broke into the Celtic Roman Museum in Manching. On Thursday night, 483 coins were stolen when unknown thieves broke into the Celtic Roman Museum in Manching. The coins, dating back to 100 BCE, were unearthed in 1999 in Manching, Germany, and are considered the largest discovery of Celtic gold coins found in the 20th century. Picture taken on November 23, 2022 shows a broken window at the Celtic and Roman museum in Manching, southern Germany, from where a hoard of Celtic coins was stolen.

☆ Volkswagen’s New CEO Puts Self-Driving Car Plans Under Review
▼ + stars: | 2022-11-17 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN— Volkswagen AG Chief Executive Oliver Blume has put plans for a self-driving vehicle under review in the first sign since his appointment two months ago that he is walking back some of his predecessor’s most ambitious technology ventures. Mr. Blume is likely to delay the Trinty self-driving electric car project and could cancel plans to build a new factory for the vehicle near its headquarters, people familiar with the matter said.

☆ Volkswagen's $2 bln Trinity electric vehicle plant in doubt
▼ + stars: | 2022-11-17 | by ( Jan Schwartz | ) www.reuters.com time to read: +2 min

Volkswagen, the world's second-biggest carmaker, had planned to officially start production of its flagship electric sedan at the new factory in 2026. Manager Magazine reported that Blume wanted to delay this until 2030. The SSP model platform planned for the whole group will probably no longer be launched with the Trinity plant as originally planned, the magazine reported. It was too early for concrete statements as Volkswagen wants to decide on its revised investment plans in February, the source told Reuters. Volkwagen's supervisory board in March approved 2 billion euros ($2.07 billion) for the new Trinity factory, with construction due to start in spring 2023.

☆ New York continues streak as nation's No. 1 port as LA cargo volume hits level not seen since 2009
▼ + stars: | 2022-11-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Earlier this week, the Port of Los Angeles posted its lowest level of October since 2009. "Firstly, shippers are still avoiding the West Coast to mitigate the risk of labor strikes at LA and Long Beach. According to Project44 data, total vessel TEU capacity deployed from Europe to the East Coast is up 15.5% compared to Oct 2021. CNBC Supply Chain Heat Map providers warned in the summer and fall of a decrease in manufacturing orders which has impacted the volume of shipping. The lesser container volumes are now being seen off the ports across the East Coast, including New York and New Jersey.

☆ Canceled sailings from China and 'radical' vessel cuts hit U.S. ability to reach export market
▼ + stars: | 2022-11-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

"As shipping lines reduce their vessel calls in the form of blank sailings, this reduces the capacity for outbound volumes. Sea-Intelligence wrote in its recent blank sailings report that it has detected some unannounced cancellations for the calendar-year period of weeks 42-52 in the past two weeks. "Blank sailings have been ramped up drastically on the Transpacific, but not so much on Asia-Europe," said Alan Murphy, CEO at Sea-Intelligence. On Asia-North Europe routes, Sea-Intelligence is only seeing an additional six blank sailings, and on Asia-Mediterranean routes an increase of four blank sailings. The weekly average of vessels waiting this week is 14, waiting for an average of 6.3 days.

☆ Judy Blume’s ‘Forever’ is being made into a TV series for Netflix
▼ + stars: | 2022-11-10 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —A beloved teen novel is getting a Netflix adaptation. The streaming giant announced Thursday that Judy Blume’s popular 1975 novel “Forever” is being “reimagined” by writer/producer Mara Brock Akil for “a new generation.”“It’s an epic love story of two Black teens exploring romance and their identities through the awkward journey of being each other’s firsts,” according to a press release. Akil is best known for creating hits like “Girlfriends,” “The Game,” “Being Mary Jane” and “Love Is.”“Judy Blume’s ability to capture the real emotions we experience during the various rites of passage of our youth influenced my life choices and writing voice. I’m honored to reimagine one of my favorite books, ‘Forever,’” Akil said in a statement. The series does not yet have a target premiere date.

The hottest blonde ever.” This was the infamous script description given for Margot Robbie’s character in The Wolf of Wall Street (2013), directed by Martin Scorsese. Widely credited as Robbie’s breakthrough, the role instantly helped establish her as one of the biggest movie stars. Yet Robbie—Australian born and then still relatively new to Hollywood—says that she had little interest in further riffing on the blonde-bombshell theme: “I was going to have to show people that I could do something different. I didn’t want to get pigeonholed.” Accordingly, her next roles gave the middle finger to the hot-blonde paradigm.

☆ Porsche’s IPO Hasn’t Helped Volkswagen Much
▼ + stars: | 2022-10-28 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Volkswagen risks learning the wrong lessons from taking Porsche public. In his first quarterly-results call with investors since taking the top job at VW, Chief Executive Officer Oliver Blume on Friday said the “big success” of last month’s Porsche initial public offering would be a “role model” for all of the group’s brands, which include the likes of Audi as well as VW itself. The company has no immediate plans for any more IPOs, but it will host a capital-markets day next spring to lay out “virtual equity stories” for its other badges. Mr. Blume hopes this will “lead to a complete equity story for the Volkswagen group.”

☆ Porsche posts 40% jump in nine-month operating profit
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 28 (Reuters) - Porsche (P911_p.DE) reported a 40.6% leap in operating profit to more than 5 billion euros ($4.99 billion) on revenue up 15.7% in the luxury carmaker's first results since its stock market listing in late September. Nevertheless, we were able to successfully list Porsche and get off to a flying start," said finance chief Lutz Meschke. Porsche, a huge money spinner for the Volkswagen (VOWG_p.DE) group, overtook its former parent as Europe's most valuable carmaker after the listing. Its shares stood at 99 euros by Thursday's close, up from a listing price of 82.50 euros. In the short term the cost of the listing and the impact of suspending business in Russia has pushed down Volkswagen's third-quarter earnings by 1.6 billion euros, results released on Friday showed.

☆ 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.

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