DIRS.INFO The most relevant business & tech news

☆ Audi ex-boss becomes first VW board member sentenced over diesel scandal
▼ + stars: | 2023-06-27 | by ( Jörn Poltz | ) www.reuters.com time to read: +2 min

Matthias Schrader/Pool via REUTERSSummarySummary Companies Stadler given suspended sentence, 1.1 mln euro fineFirst former VW board member sentenced for diesel scandal fraudFormer exec, engineer also sentenced and finedJune 27 (Reuters) - Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a Munich court on Tuesday for fraud by negligence in the 2015 diesel scandal, becoming the first former Volkswagen board member to receive such a sentence. Prosecutors had originally wanted a 2-million-euro fine, citing Stadler's salaries at Audi and Volkswagen and his financial and real estate assets. Stadler's trial, one of the most prominent court proceedings in the aftermath of the diesel scandal, has been ongoing since 2020. Audi's parent group Volkswagen (VOWG_p.DE) and Audi admitted in 2015 to having used illegal software to cheat on emissions tests. Stadler was accused of failing to stop the sale of the manipulated cars after the scandal became known.

Persons: Rupert Stadler, Matthias Schrader, Stadler, Ulrike Thole, Groll, Wolfgang Hatz, Giovanni P, Joern Poltz, Victoria, Friederike Heine, Jason Neely Organizations: Audi, VW, Volkswagen, Prosecutors, Thomson Locations: Munich, Germany

☆ China decoupling would be an act of 'suicide' for Europe, Hungary's foreign minister says
▼ + stars: | 2023-06-27 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Thomas Trutschel | Photothek | Getty ImagesHungary's foreign minister said Tuesday that any move to decouple, or even de-risk, from China would be an act of "suicide" for Europe. "Both decoupling and de-risking would be a suicide committed by the European economy," Szijjártó told CNBC's Sam Vadas at the World Economic Forum's annual conference in Tianjin, China. "How could you decouple without killing the European economy?" Péter Szijjártó Foreign Minister of HungaryThe issue is a particularly sensitive balancing act for Europe, which remains deeply reliant on U.S. support in Ukraine but also has critical economic ties with Beijing. China was the largest source of EU imports and the third-largest buyer of EU goods in 2022, according to Eurostat.

Persons: Thomas Trutschel, Péter Szijjártó, Szijjártó, CNBC's Sam Vadas, Péter, Mercedez Organizations: Photothek, Getty, Beijing, Péter Szijjártó, Eurostat, European Union, Amperex Technology, Mercedez Benz, BMW, VW Locations: China, Europe, Tianjin, Beijing, Hungary, Ukraine

☆ Former Audi CEO Rupert Stadler sentenced over VW diesel emissions scandal
▼ + stars: | 2023-06-27 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —A Munich court has handed former Audi CEO Rupert Stadler a suspended jail sentence of one year and nine months for fraud in the 2015 diesel emissions scandal that rocked Volkswagen Group. Stadler is the first Volkswagen (VLKAF) board member to be sentenced in the affair, some four years after German prosecutors laid fraud charges against the executive. He entered a plea bargain with the court, confessing to his crimes in order to avoid spending time in jail. The affair also led German prosecutors to charge former Volkswagen CEO Martin Winterkorn with fraud in 2019. Stadler, who had worked for Volkswagen since 1990, agreed to pay the company €4.1 million ($4.5 million) following the same investigation.

Persons: London CNN —, Rupert Stadler, Stadler, Audi’s, Wolfgang Hatz, Giovanni Pamio, Hatz, Pamio, Martin Winterkorn, Winterkorn, “, ”, — Organizations: London CNN, Audi, Volkswagen Group, €, Volkswagen, VW, Porsche, “ Audi Locations: Munich, Berlin

☆ I'm the 'Car Mom' and review family cars for a living. Here's my favorite models and why 100,000-mile vehicles shouldn't scare you.
▼ + stars: | 2023-06-20 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

Kelly Stumpe, also known as the Car Mom, has test-driven and toured 65 family cars. The problem with buying a family car is, it's not just a matter of: "I don't like the drive." It is not as simple as if it has a seatbelt, it can fit a car seat. In the Sequoia, I can only put it in the middle seat, so I could not have another child in this car who would still be in a car seat. It actually allows you to access the third row when a car seat is still installed.

Persons: Kelly Stumpe, Alexa St, Stumpe reevaluated, St . Louis, there's, I've, shouldn't, Joe Raedle, it's, Stumpe, It's, they're, I'm, Sienna Organizations: Morning, Toyota, Hyundai, Nissan, Ford Expedition, Toyota Sequoia, Leasing, Ford The Ford Expedition, General Motors, Honda, VW Locations: John, St, Louis , Missouri, St ., Florida, Hyundai Santa Fe, Autotrader, Edmunds, Yukon

☆ I'm a mom that's test-driven or toured 65 family cars — these are my favorite models and top tips for buying
▼ + stars: | 2023-06-17 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

☆ VW masters dry-coating battery process with potential to slash cell costs
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

BERLIN, June 16 (Reuters) - Volkswagen (VOWG_p.DE) and a technology partner have mastered a battery manufacturing process called dry coating which if scaled up could cut the cost of cell production by hundreds of millions of euros a year, its battery chief said on Friday. "No-one else can do this today," battery chief Thomas Schmall said at a media roundtable. Dry-coating eliminates that step with an adhesive that does not require drying, Schmall explained. Together with scaled-up production and cheaper raw materials, the carmaker hopes the procedure will help bring down cell costs by around 50%, Schmall said. Reporting by Victoria Waldersee; Editing by Rachel More and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Koenig, Thomas Schmall, Schmall, Tesla, Sebastian Wolf, Victoria Waldersee, Rachel More, Jan Harvey Organizations: Bauer AG, Maxwell Technologies, Reuters, Volkswagen, Thomson Locations: BERLIN, Germany, Spain, Canada

☆ Audi chief sets sights on China in electric car catch-up
▼ + stars: | 2023-06-15 | by ( Cristina Amann | ) www.reuters.com time to read: +3 min

"And we are also looking more intensively at how this is done in China," Duesmann said. "In 2030, the BEV share of the premium car market should already be between 60 and 70%, depending on the region," Duesmann said. That shift could happen even sooner in China, but Audi's sales performance in the world's biggest car market has fallen short of expectations. The new Q6 e-tron has been delayed by behind-schedule software development. Hoping to offset any disappointment in China, Duesmann said the carmaker wanted to strengthen its business in North America, tapping into a strong U.S. car market and Washington's generous subsidies programme.

Persons: Markus Duesmann, Duesmann, BEV, Christina Amann, Rachel More, Madeline Chambers, Mark Potter Organizations: Audi, Reuters, Volkswagen, BMW, Mercedes, Benz, VW, Thomson Locations: INGOLSTADT, Germany, China, North America, U.S, Mexico, Tennessee

☆ What EV owners need to know about Tesla's charging partnership with Ford and GM
▼ + stars: | 2023-06-10 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

Tesla's Supercharger Network will open up to Ford and GM EV owners in 2024. As part of their move, both Detroit-area automakers have decided to adopt Tesla's EV charging connector, the plug that links an electric vehicle to a charging station. With GM and Ford joining Tesla's charging system, the rest of the auto industry may be forced to follow suit. At present, two main types of EV charging plugs exist: Tesla's North American Charging Standard and CCS, used by nearly all other automakers. GM and Ford EV owners also win because they will gain access to double the number of chargers that they had before.

Persons: Tesla, Here's, Gary Silberg, you'd, Sam Abuelsamid, Ford, Abuelsamid, Silberg, Stellantis, it's Organizations: Ford, GM EV, General Motors, GM, CCS, EV, KPMG, Associated, Energy Department, Tesla, North America, Guidehouse Insights, Ford EV, Kia, Nissan, Toyota, Hyundai, VW Locations: DETROIT, Detroit, United States, U.S, North America, North, America

☆ VW's China joint venture transforms Shanghai plant for EV production
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

Swen Pfoertner/Pool via REUTERS/File PhotoSHANGHAI, June 6 (Reuters) - Volkswagen 's Chinese joint venture with SAIC Motor (600104.SS) has transformed one of its plants in Shanghai for production, research and development of electric vehicles (EV), the German automaker said on Tuesday. Production of internal combustion engine models at the main plant of SAIC Volkswagen in Anting of Shanghai will be relocated to other plants, Volkswagen said in an emailed statement to Reuters, which came after comments on social media saying Volkswagen was shutting a plant in Shanghai. The change will not affect the production capacity for individual models, it added. The move underscores Volkswagen's efforts to accelerate its shift to electrification as it has been losing shares in its biggest market where it lags behind Chinese rivals in launching new EV models. Volkswagen-branded cars have been outsold by electrified vehicle maker BYD since November last year, according to data from industrial associations.

Persons: Swen, Zhang Yan, Brenda Goh, Emelia Sithole Organizations: Volkswagen, SAIC, SAIC Volkswagen, Reuters, Thomson Locations: Wolfsburg, Germany, SHANGHAI, Shanghai, Anting

☆ Shark attacks in the US occur most in these 12 states
▼ + stars: | 2023-06-05 | by ( Rupendra Brahambhatt | ) www.businessinsider.com time to read: +5 min

Shark attacks are more common in the US than in any other place in the world. But if you think shark attacks are only limited to remote and isolated islands, you'd be surprised to know that the US has seen more unprovoked shark attacks than any other country, by far, and many of these attacks happen near crowded beaches. Where the most shark attacks occur in the USSince the 16th century, 1,604 unprovoked shark attacks have been reported in the US, according to the International Shark Attack File. That's more than double the number of shark attacks in Australia, which holds the second-highest number of attacks at 691. "Shark attacks are rare and it is extremely rare for people to be eaten when they occur," Sorensen said.

Persons: —, Alexis Rosenfeld, Peter Sorensen, WENDELL TEODORO, James Sulikowski, Gavin Naylor, Sorensen Organizations: Service, Turks, South Carolina, North Carolina, Department of Fisheries, University of Minnesota, Florida Department of Environment Protection, Coastal Oregon, Experiment, AP, Florida Program, Shark Research, University of Florida Locations: Florida, Caicos, Buchan, Australia, America, Hawaii, California, South, North, Texas, Oregon, New York, Georgia, New Jersey, Alabama, Massachusetts, Virginia , Louisiana , Delaware

☆ VW Is on a Hunt for Resources to Remove China From Its EV Batteries
▼ + stars: | 2023-06-04 | by ( William Boston | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/vw-is-on-a-hunt-for-resources-to-remove-china-from-its-ev-batteries-663ee99

Persons: Dow Jones

☆ Volkswagen brings VW bus back to North American market after 20 years
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] The fully electric VW ID Buzz, is pictured on a production line at a Volkswagen Commercial Vehicle plant in Hanover, Germany, June 16, 2022. REUTERS/Fabian Bimmer/File PhotoFRANKFURT, June 2 (Reuters) - Volkswagen (VOWG_p.DE) will start selling battery-powered versions of its VW bus in North America from 2024 onwards, the carmaker said on Friday, in what marks the reintroduction of the iconic model after a two-decade hiatus. "With the T4 generation, the VW bus left the USA and Canada 20 years ago. But the microbus – as the VW bus is called between New York and San Francisco – has retained its cult status right up to the present day," Volkswagen said in a statement. Buzz vehicles for the North American market will be built at Volkswagen's plant in Hanover, Germany, the company said, adding batteries could be charged from 10%-80% in 25 minutes at available rapid charging stations.

Persons: Fabian Bimmer, San Francisco –, Christoph Steitz, Madeline Chambers Organizations: REUTERS, VW, USA, San, Volkswagen, North, Thomson Locations: Hanover, Germany, FRANKFURT, North America, Canada, New York, North American

☆ VW unveils its electric Microbus for America
▼ + stars: | 2023-06-02 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

That iconic model was introduced in 1949 and is better known as the Microbus, or just the VW Bus. In North America, Volkswagen will offer a long-wheelbase version of the VW ID. The electric motor is capable of producing 282 horsepower, more than 10 times the horsepower of an early VW Bus. The interior of the VW ID. As in other VW ID.

Persons: it’s, It’s, Marjorie Smith, “ Organizations: CNN, Volkswagen, North, Chrysler Pacifica, VW, Chrysler, America, Inc, VW Bus Locations: America, North America, Europe

☆ VW completes sale of Kaluga plant in Russia
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowBERLIN, May 19 (Reuters) - Volkswagen (VOWG_p.DE) has completed the sale of its Kaluga production plant in Russia and its local subsidiaries, the German carmaker said on Friday, ending months of wrangling with Russian authorities over the deal. Volkswagen has sold its shares in Volkswagen Group Rus LLC to Art-Finance LLC, which is supported by autodealer group Avilon, VW said in a statement. Volkswagen is pictured during the 63rd Annual General Meeting of Volkswagen AG in Berlin, Germany May 10, 2023. According to a source familiar with the matter, the deal is valued at 125 million euros ($138 million). Work at the plant in Kaluga, south of Moscow, has been furloughed since March 2022 due to Russia's invasion of Ukraine, which prompted Western countries to sanction Moscow leading to a breakdown in supply chains.

☆ This trader's got the 'perfect' job for full-time travel — and he's teaching others how to do it
▼ + stars: | 2023-05-18 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +7 min

So they sold their belongings, bought a boat and set off to sail around the world, despite having no sailing experience, he said. He called trading the "perfect" job for full-time travel because "all I need is a laptop, an internet connection, and I can be anywhere in the world." Source: BumfuzzleDuring their first trip around the world, Schulte said he and his wife kept track of every dollar they spent, which averaged about $3,100 a month. "Plus, there's not always something to do — we're not day trading … so there's plenty of talk about life and travel." The Schulte family approaching the Marquesas Islands after spending 21 days at sea crossing the Pacific Ocean.

☆ Volkswagen plans core brand revamp to boost returns -internal memo
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

Companies Volkswagen AG FollowBERLIN, May 17 (Reuters) - German carmaker Volkswagen (VOWG_p.DE) plans to overhaul its core brand to increase efficiency and returns, according to an internal memo from VW brand chief Thomas Schaefer seen by Reuters on Wednesday. "We can see that our brand – despite all its strengths – is not yet on a sufficiently solid economic footing," Schaefer wrote in the memo. The Volkswagen brand must act," he wrote. Handelsblatt business daily first reported the plans, saying they involved cost savings and were designed to increase annual results by at least 3 billion euros. In the memo seen by Reuters, Schaefer wrote that details of the revamp would be worked out in coming weeks and months.

☆ GM, VW face idled capacity risk in China without faster EV transition -Greenpeace
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Rebecca Cook/File PhotoSHANGHAI/BERLIN, May 11 (Reuters) - Automakers including Volkswagen and General Motors could have considerable unused production capacity for conventionally powered vehicles in China by 2030 if they do not speed up their transition to electric vehicles (EV), Greenpeace said on Thursday. By the end of 2021, China had total annual production capacity for 40.89 million passenger vehicles of all fuel types with a utilisation rate of 52.5%, showed data from the China Passenger Car Association. If the sales rate reaches 70%, the average unused capacity utilisation rate for ICE production would rise to two thirds, Greenpeace said, basing its estimates on public information about planned capacity and projected sales. GM and Volkswagen will face the largest pressure with over 3 million units of idled capacity for ICE cars in China, presenting a major risk for those automakers, Greenpeace said. Volkswagen pointed to its rising sales in China and said it expects to profit from the country's growing demand for cars.

☆ Hammerhead sharks 'hold their breath' when deep diving up to 2,500 feet to avoid freezing to death
▼ + stars: | 2023-05-11 | by ( Marianne Guenot | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

Hammerhead sharks are able to deep dive to frigid, near-freezing waters to catch rare prey. The study, published in the peer-reviewed journal Science on Thursday, found scalloped hammerhead sharks are able to conserve their body temperature while diving over 2,500 feet under the surface to hunt for deep-sea prey. Keeping the cold water outA hammerhead shark. This video spotted a hammerhead shark swimming during a deep dive off the coast of Tanzania. The strategy gives them an evolutionary advantage, but there's a catchA hammerhead shark caught in a net.

☆ A protestor threw a cake-like pastry at a board member's head during a Volkswagen meeting that descended into chaos
▼ + stars: | 2023-05-11 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

About a dozen protestors reportedly created chaos at Volkswagen Groups annual meeting on Wednesday. One protestor threw what appeared to be a cake at a board member's head. The Associated Press reported that the pastry was thrown in the direction of Wolfgang Porsche, the chairman of Volkswagen Group's majority shareholder, Porsche SE. But recordings of the moment, uploaded to YouTube from news outlets including The Guardian, show VW Group chairman Hans Dieter Poetsch dodging remnants of the pastry that flew in his direction. A Reuters video from the event shows the protestors being led out of the meeting by security.

[1/3] Oliver Blume, Chairman of the Board of Management of Volkswagen AG and Dr. Ing. He did not mention the company's Xinjiang plant in China, a joint venture with SAIC Motor (600104.SS), which has become a sore point for human rights activists as well as some shareholders, including top-20 investors Deka Investment and Union Investment. "Volkswagen must be certain that its supply chains are clean," said Ingo Speich, head of sustainability and corporate governance at Deka. Volkswagen's China chief visited the plant in Xinjiang earlier this year and said he saw no evidence of forced labour. Shareholders flagged rising competition from Chinese EV competitors in China, with BYD (002594.SZ) outselling Volkswagen as the top passenger car brand earlier this year.

☆ Volkswagen defends China record at turbulent shareholder meeting
▼ + stars: | 2023-05-10 | by ( ) www.cnbc.com time to read: +2 min

Volkswagen defended its record in China and its decision to jointly own a plant in the Xinjiang region after activists and investors lashed out at the carmaker at a volatile annual general shareholder meeting on Wednesday. The United Nations said last year that China's "arbitrary and discriminatory detention" of Uyghurs and other Muslims in its Xinjiang region may constitute crimes against humanity. Rights groups have documented abuses including mass forced labour in detention camps which China has denied. Investors called on Volkswagen to request its joint venture partner SAIC seeks an independent external audit of the Xinjiang plant. "Volkswagen must be certain that its supply chains are clean," said Ingo Speich, head of sustainability and corporate governance at Deka, a top-20 Volkswagen shareholder.

☆ Porsche, VW Commercial Vehicles partner with Mobileye on automated driving software
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

BERLIN, May 9 (Reuters) - Porsche (P911_p.DE) will incorporate automated assistance and navigation functions from Mobileye's (MBLY.O) so-called "SuperVision" technology platform in future models, Mobileye said on Tuesday. The agreement is the technology provider's second large signing for the platform with a major automotive group after China's Geely (GEELY.UL). Volkswagen Commercial Vehicles, which was previously going to use technology from Pittsburgh-based self-driving startup, Argo AI for self-driving shuttles and vans, will also partner with Mobileye, a spokesperson said. Volkswagen pulled out of its planned investment in Argo AI last October and said at the time its commercial vehicles unit would seek a new partnership. Together with Mobileye, the unit will seek to implement so-called "Level 4" autonomous driving - considered fully autonomous, though humans can still request control - in its ID.

☆ 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.

☆ 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.

Search resuls for: "VW"

25 mentions found