DIRS.INFO The most relevant business & tech news

BERLIN, Jan 16 (Reuters) - Volkswagen (VOWG_p.DE) wants to expand both its higher-end and lower-end offering in the Chinese market, China chief Ralf Brandstaetter said on Monday, calling the country's high-paced, competitive market a "giant fitness centre for the industry". Volkswagen has long dominated the combustion engine car market in China, but lags domestic competitors on electric vehicles (EVs) - most notably BYD, which sold 40,046 EVs between Jan. 1-8 compared to Volkswagen passenger brand's 1,962, according to Chinese brokerage CMBI. The carmaker aims to speed up its time to market for new models from four years closer to the 2.5-year average for its Chinese counterparts, in part by localising research and development for Chinese models even further. Volkswagen must act "from a position of strength" within China, Brandstaetter said, referring to the ongoing debate in Germany over how to diversify its economic relationships to rely less on China. It means continuing to use the market opportunities in China and ramping up America," he said.

☆ Tesla under fire in Germany over union concerns on working hours, contracts
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

Workers were also increasingly fearful about discussing their working conditions openly because of non-disclosure agreements they were told to sign along with their work contracts, IG Metall said. Over time we are observing that this enthusiasm is withering," Irene Schulz of IG Metall Berlin-Brandenburg-Sachsen said in a statement. "Tesla is not doing enough to improve working conditions and is leaving too little time for leisure, family and recovery." Tesla China has also asked some staff to sign non-disclosure agreements, according to two sources with knowledge of the matter. Reuters found several people on LinkedIn with the title of "Security Intelligence Investigator" working for Tesla in Austin, San Francisco and Shanghai.

☆ Italvolt to license battery technology from Israel's StoreDot
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Jan 16 (Reuters) - Electric vehicle batterymaker Italvolt will license fast-charging battery technology from Israeli start-up StoreDot to manufacture lithium-ion batteries at a plant it is raising funds to build in Italy, the companies said on Monday. Italvolt will ringfence a minimum amount of the batteries produced at the plant for StoreDot's business and customers, Italvolt's statement said, without specifying the amount. Fast-charge capability could also enable EV manufacturers to install smaller battery packs and thus lower the cost of their cars. Currently, StoreDot licenses technology to its manufacturing partner EVE Energy (300014.SZ) to produce batteries in China and ship to customers in China and Korea. Italvolt is one of a handful of battery startups trying to raise money and build a homegrown European battery industry to compete with the Asian giants that dominate global sales.

☆ Repaired German Leopard tanks for Ukraine ready in 2024 at earliest, armsmaker says
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 15 (Reuters) - German armsmaker Rheinmetall (RHMG.DE) could only deliver repaired Leopard 2 battle tanks to Ukraine in 2024 at the earliest, its chief executive was quoted as saying by Bild newspaper on Sunday. Germany announced earlier this month that it would provide Ukraine with Marder infantry fighting vehicles to help repel Russian forces. But Kyiv has also requested heavier vehicles such as the Leopards, which would represent a significant step-up in Western support to Ukraine. Still, critics say German Chancellor Olaf Scholz and his ruling SPD are too slow, waiting for allies to act first instead of assuming Germany's responsibility as the Western power closest to Ukraine. Economy Minister Robert Habeck said earlier this month delivering the heavier Leopard tanks could not be "ruled out".

☆ Germany falls to bottom rung of investment ranking on energy costs, labour shortage
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: 1 min

Jan 15 (Reuters) - Germany's attractiveness as an investment location has fallen four places to 18th of 21 in a ranking of industrial economies by economic research institute ZEW, newspaper Augsburger Allgemeine reported on Monday. Rising energy costs and ongoing labour shortages have compounded existing problems of high taxes, complex bureaucracy and slow pace of innovation, the study said, bumping Germany down the list with only Hungary, Spain and Italy below it. The Mannheim-based institute ranked the United States, Canada, Sweden and Switzerland for reasons from cheaper energy in the U.S. and Sweden to access to capital and a well-functioning state in Switzerland. Reporting by Victoria WalderseeOur Standards: The Thomson Reuters Trust Principles.

☆ Thunberg joins march on German village in protest against coal mine expansion
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +2 min

[1/5] Climate activist Greta Thunberg joins the activists protesting against the expansion of the Garzweiler open-cast lignite mine of Germany's utility RWE to Luetzerath, in Keyenberg, Germany, January 14, 2023. REUTERS/Thilo SchmuelgenLUTZERATH, Jan 14 (Reuters) - Around 6,000 protesters - including climate activist Greta Thunberg - marched through mud and rain to the German village of Luetzerath on Saturday, according to a police estimate, demonstrating against the expansion of an opencast lignite mine. As the protesters neared the village, they were confronted by police in riot gear, and some used batons to push the protesters back. "It is the last place where brown coal will be mined - not a symbol for more-of-the-same, but for the final frontier." But activists have said Germany should not be mining any more lignite and focus on expanding renewable energy instead.

☆ Tesla: we are making Model Y, Model 3 more accessible to customers
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: 1 min

Companies Tesla Inc FollowBERLIN, Jan 13 (Reuters) - Tesla (TSLA.O) said on Friday that the electric vehicle maker, which cut prices of its Model Y and Model 3 vehicles in the U.S. and Europe overnight, was able to provide its cars at a more accessible price because cost inflation was normalising. "At the end of a turbulent year with interruptions to the supply chain, we have achieved a partial normalisation of cost inflation, which gives us the confidence to pass this relief onto our customers," a spokesperson for Tesla Germany said in a statement. Reporting by Victoria Waldersee, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ Porsche to ensure familiar software is available for customers, spokesperson says
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Jan 13 (Reuters) - Porsche AG (P911_p.DE) will ensure that familiar software platforms like Google and Apple will be accessible for its customers, a spokesperson said on Tuesday following reports that it was considering integrating Google software into its cockpit. The luxury carmaker declined to comment on whether it was currently in talks with Google (GOOGL.O) over a deal to incorporate Google applications like Google Maps and Google Assistant into their vehicles. A source close to the company told Reuters on Thursday discussions were underway, marking a shift in strategy for the newly listed carmaker which previously had been reluctant to use Google software. Reporting by Ilona Wissenbach, Writing by Victoria Waldersee, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen Group deliveries lowest in over a decade
▼ + stars: | 2023-01-12 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

Buzz, a fresh take on the iconic vehicle of the Volkswagen brand, during its world premiere in Paris, France, March 9, 2022. Group sales rose 14.3% in the fourth quarter, but the outlook for 2023 remains clouded by weak economies and supply chain shortages, extended executive sales committee member Hildegard Wortmann said. Audi, Lamborghini and Bentley weathered 2022 better than Volkswagen Passenger Cars and Skoda, with deliveries down around 4% at the premium brands and down 9% for mass-market vehicles. Group deliveries fell 7% versus 2021. The Volkswagen Group's deliveries were up 12% in the second half of the year, but the full-year figure was dragged down by a drop of over a fifth in the first half.

☆ Google, Porsche in talks over Google Apps access
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

The deal, which is only being considered for the Porsche brand and not the Volkswagen Group more widely, would enable Porsche customers access to Google applications like Google Maps and Google Assistant without needing to connect the car to an Android phone. Spokespeople for Porsche and Google were not immediately available for comment. A spokesperson for Volkswagen software unit Cariad declined to comment. Porsche had previously been reluctant to use Google software because Google asked for too much data to be shared, according to Manager Magazin, which first reported the talks. Carmakers including General Motors, Renault, Nissan and Ford use embedded Google technology in their vehicles via a Google Automotive Services (GAS) package, offering features like Google Maps, Google Assistant and other applications.

☆ German premium car brands handled supply chain woes better than VW
▼ + stars: | 2023-01-10 | by ( Victoria Waldersee | ) www.reuters.com time to read: +3 min

[1/4] The new hybrid-electric BMW XM is displayed at the BMW manufacturing plant in Greer, South Carolina, U.S., October 19, 2022. Though the fourth quarter provided universal relief for the carmakers, China's extensive lockdowns early in the year were particularly hard on sales volumes. Audi's deliveries fell 3.9% to 1.61 million, with Europe the only region to register marginal growth after an 18.7% jump in German sales. That compared with only a 1% drop in Mercedes-Benz total sales and its 143% leap in deliveries of electric and hybrid vehicles. The Volkswagen brand fared worst year on year, with a 6.8% fall in sales attributed to supply chain issues affecting all model types.

☆ Greenpeace-led case against Volkswagen admissible, unlikely to succeed, German court says
▼ + stars: | 2023-01-10 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

BRAUNSCHWEIG, Germany, Jan 10 (Reuters) - A case led by Greenpeace against Volkswagen (VOWG_p.DE) demanding that the automaker tighten its carbon reduction targets is admissible but unlikely to succeed, a German district court said on Tuesday, with a further hearing scheduled for Jan 31. However, the Braunschweig court said it was not clear whether the German ruling was applicable in a case between private entities. The peculiarity here is that this is a case of a private individual against a privately acting company... the lawsuit is unlikely to succeed," said Bastian Willers, spokesperson for the Braunschweig court. The NGO has appealed the ruling, which Greenpeace lawyer Roda Verheyen said her clients will also do if the court dismisses their case later this month. Another case by DUH against BMW in Munich is ongoing, with the next hearing scheduled for February 7.

☆ Mercedes-Benz sells 2.05 million passenger cars in 2022
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 10 (Reuters) - Mercedes-Benz (MBGn.DE) delivered 2.05 million passenger cars in 2022, the company said on Tuesday, down 1% on the previous year as the carmaker felt the impact of COVID-19 measures and bottlenecks. Still, fourth-quarter sales rose 17% as logistics and supply chain bottlenecks eased, and battery-electric sales grew 124% over the course of the year to 117,800 units. Demand for the carmaker's high-end Maybach vehicles was particularly strong, with 2022 sales up 37% year-on-year driven by higher sales in China, Japan, Korea and the Middle East. The only key region to see a year-on-year fall in sales was China, with a 1% drop, according to Tuesday's data. Entry-level vehicles, the lowest price segment, saw a 10% sales drop primarily due to supply chain bottlenecks, the carmaker said.

☆ BMW sales recover in fourth quarter as supply chain issues ease
▼ + stars: | 2023-01-10 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

Full-year deliveries were down 4.8%, with Europe and China hardest hit by supply chain troubles that curbed output, particularly in the first half of the year. But sales bounced back in the fourth quarter as the group rejigged supply chains in Europe and lockdowns were lifted in China. Sales of fully electric vehicles also performed well, more than doubling to 215,755 over the year. BMW weathered the early days of the COVID-19 pandemic better than competitors, achieving record sales in 2021. The carmaker now plans to to move to a direct sales model in 24 European markets, with agents acting as sales representatives, it said in Tuesday's trading update.

BERLIN, Jan 10 (Reuters) - German carmakers, Tesla, chip producers and battery maker Northvolt met the German chancellor and cabinet ministers on Tuesday to discuss topics from European law on vehicle emissions to energy prices, according to two participants. The annual summit was formerly only for carmakers but was this time dubbed a "mobility" summit, with the broader focus signalled by Northvolt's presence on the guestlist for the first time. Tesla (TSLA.O), was not on the first draft of the guest list shared with participants but was present, according to a participant, alongside German carmakers Volkswagen (VOWG_p.DE), BMW (BMWG.DE), Mercedes-Benz (MBGn.DE) and Opel. Associations, including cyclist club ADFC and rail association "Allianz pro Schiene", criticised the summit as still too car-focused. German chancellor Olaf Scholz, Economy Minister Robert Habeck, Transport Minister Volker Wissing and Labour Minister Hubertus Heil were among those present from the government, the other participant said.

☆ 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”.

☆ Mercedes to launch vehicle-charging network, starting in North America
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Mercedes-Benz sign is seen on Mercedes-Benz EQE, an all-electric sedan, during International Motor Show Auto 2022 in Riga, Latvia April 30, 2022. REUTERS/Ints KalninsBERLIN, Jan 5 (Reuters) - Mercedes-Benz (MBGn.DE) is poised to invest billions of euros to build 10,000 fast-charging points in North America, Europe and China by 2030, the luxury carmaker said on Thursday. The carmaker will commence construction in North America this year, targeting 2,500 charging points at 400 locations across most U.S. states and Canada by 2027, it said at the CES car show in Las Vegas which runs from Jan. 5-8. The United States has around 140,000 public EV chargers, according to July 2022 data from the National Renewable Energy Laboratory. Still, the region requires at least 3.4 million charging points by 2030 to meet an expected rise in demand, the study said.

☆ China has a 10,000 euro cost advantage in small EVs, auto supplier says
▼ + stars: | 2023-01-05 | by ( Joseph White | ) www.reuters.com time to read: +3 min

The issue is "more dangerous" for Europe than the United States, Koller told Reuters in an interview, as high duties have limited China's U.S. market share. Koller said Chinese EV makers can produce vehicles for less because they have lower research and development costs, lower levels of capital spending and lower labour costs than rivals in Europe. Forvia, the company created when French auto supplier Faurecia took 82% control of German supplier Hella, is the seventh largest automotive component maker in the world. By contrast, high duties in the United States on Chinese-made vehicles have so far kept China's share of the U.S. auto market negligible. Koller said Forvia will invest more in the United States, in part to take advantage of federal incentives provided in the Inflation Reduction Act signed into law in August.

☆ BMW sales dip in 2022, targets 15% battery-electric sales this year
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Jan 4 (Reuters) - The BMW Group (BMWG.DE) sold around 100,000 fewer cars in 2022 at 2.4 million vehicles, but more than doubled the proportion of fully-electric cars sold to reach almost 10% of total sales, a spokesperson said on Wednesday. The German automaker plans to raise the share of battery electric vehicles in total sales to 15% in 2023, the person added. The core BMW brand sold 2.1 million vehicles last year, down from a record 2.2 million in 2021, as COVID-19 lockdowns in China stymied supply and European inflation weighed on demand. Still, BMW has so far offset the dip in sales volumes with higher prices, with third-quarter profits rising in 2022. The carmaker will report full 2022 sales figures on Jan. 10.

☆ Continental partners with AI chip firm Ambarella on autonomous driving
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 5 (Reuters) - Germany's Continental (CONG.DE) and California-based artificial intelligence chip firm Ambarella (AMBA.O) announced a partnership on Thursday to make software and hardware systems for autonomous driving. The two companies will focus on so-called Level 2 plus autonomous driving, which briefly allows drivers to take their hands off the wheel through features like assisted cruise control and lane centering. Ambarella develops a new category of semiconductors called system on a chip, or SoC, which combine multiple CPUs on one logic board and provide artificial intelligence processing. The two firms jointly develop the technology, which will comprise of high-resolution cameras and radar and lidar senses with the necessary software from Continental, the statement said. The German auto supplier also holds a minority stake in another California-based firm, lidar startup AEye, and has integrated a long-range lidar sensor based on AEye's patents to complement the auto supplier's existing short-range lidar technology.

☆ Poland says Germany refused talks on World War Two reparations
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

WARSAW, Jan 3 (Reuters) - Germany has rebuffed the latest push by Poland's nationalist government for vast reparations over World War Two, saying in response to a diplomatic note that the issue was closed, the foreign ministry in Warsaw said on Tuesday. Poland estimates its World War Two losses caused by Germany at 6.2 trillion zlotys ($1.4 trillion) and has demanded reparations, but Berlin has repeatedly said all financial claims related to the war have been settled. "Germany does not pursue a friendly policy towards Poland, they want to build their sphere of influence here and treat Poland as a vassal state." In 1953, Poland's then-communist rulers relinquished all claims to war reparations under pressure from the Soviet Union, which wanted to free East Germany, also a Soviet satellite, from any liabilities. In a joint press conference with Polish foreign minister Zbigniew Rau last October, German foreign minister Annalena Baerbock said the pain caused by Germany during World War Two was "passed on through generations" in Poland but that the issue of reparations was closed.

☆ Tesla hits 3,000 cars a week in Berlin, Austin later than planned
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Dec 19 (Reuters) - Tesla's (TSLA.O) German plant produced 3,000 cars last week for the first time, the carmaker tweeted late on Sunday - but the milestone was reached over two months later than planned in both Berlin and Austin, Texas, according to a memo seen by Reuters. The memo, which Reuters reported on in September, projected 3,000 units in weekly output from the Gruenheide plant near Berlin in the first week of October and from Tesla's plant in Austin, Texas, in the first week of November. Yet it took until last week for Tesla to post celebratory pictures on Twitter stating it had reached that target in both locations - last Thursday for Austin, and Sunday for Berlin. Tesla did not respond to requests for comment on the memo or the delay in hitting the 3,000-car output target in Berlin and Austin. Musk and Tesla often set ambitious targets, and the company is often late meeting them.

☆ ECB's Nagel pleads with Germans for patience in combating inflation
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Dec 19 (Reuters) - Bundesbank President Joachim Nagel asked the German public for patience in bringing down inflation, warning in an interview with broadcaster N-TV on Thursday that the impact of rate rises could take up to two years to take effect. Nagel, among the ECB hawks who generally favour higher rates, pointed to the bank's four successive hikes this year as evidence it was taking action against inflation but said he did not expect it to fall significantly until 2024. "I need to ask for some patience," Nagel said in the interview. Nagel said the Bundesbank expected lower inflation rates in Germany in December because of a gas price brake, but that they would remain at around 7% in 2023 before going back significantly in 2024. Reporting by Victoria Waldersee, Francesco Canepa, editing by Deepa BabingtonOur 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.

☆ 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.

Search resuls for: "Victoria Waldersee"

25 mentions found