Volkswagen AG

Volkswagen AG engages in the production and sale of passenger cars and light commercial vehicles. The firm also develops vehicles and components for the brands of the group. It operates through following segments: Passenger Cars and Light Commercial Vehicles, Commercial Vehicles, Power Engineering, and Financial Services. The Passenger Cars and Light Commercial Vehicles segment includes the development of vehicles, engines and vehicle software, the production and sale of passenger cars and light commercial vehicles, and the corresponding genuine parts business. The Commercial Vehicles segment covers the development, production, and sale of trucks, and buses, and the corresponding genuine parts business and related services. The Power Engineering segment deals with the development and production of large-bore diesel engines, turbomachinery, and propulsion components business. The Financial Services segment involves dealer and customer financing, leasing, banking, insurance, and fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

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Volkswagen AG engages in the business of developing vehicles and components for the brands of the group. It operates through the following segments: Passenger Cars and Light Commercial Vehicles; Commercial Vehicles; Power Engineering; and Financial Services. The Passenger Cars and Light Commercial Vehicles segment includes developing vehicles, engines, and vehicle software; producing and selling passenger cars and light commercial vehicles; and the corresponding genuine parts business. The Commercial Vehicles segment focuses on trucks, buses, corresponding genuine parts business, and related services. The Power Engineering segment is involved in large-bore diesel engines, turbomachinery, and propulsion components business. The Financial Services segment provides dealer and customer financing, leasing, banking, insurance, and fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

Volkswagen management and worker representatives begin a third round of wage negotiations on Thursday, with just ten days left to find a solution before unions have threatened to escalate the fight with strikes across German sites.

Volkswagen enters third round of wage talks as strike action looms

Volkswagen Group (XETRA:VOW) workers have offered to forego bonuses for the next two years in an effort to stop the car maker from shutting three plants in Germany as part of an unprecedented cost-cutting move. VW wants to save €1.5 billion in costs but unions have said it is more like €17bn and that if it presses ahead with the plans as they stand it will face a 'historic battle'.

VW facing ' historic battle' as workers dig in against closure plan

Daniela Cavallo faces the battle of her career as she fights what would be the first German factory closures in the automaker's history.

The Unusual Power of VW's Union Boss Is Being Put to the Test

Workers are prepared to make concessions worth 1.5 billion euros ($1.58 billion) in ongoing negotiations with Volkswagen over cost cuts, warning of a far-reaching conflict if the carmaker insists on plant closures.

IG Metall threatens historic labour battle if VW insists on plant closures

Volkswagen is planning to shut factories in every scenario presented to labour representatives, putting both factions on collision course in a dispute over pay and jobs, and raising the spectre of strikes.

VW plans for factory closures cross several red lines, works council chief says

As Volkswagen and unions gear up for the next round of talks over wages and plant closures in Germany, company and industry data reviewed by Reuters show that the automaker spends a higher proportion of sales on labour costs than major rivals.

Exclusive: In high-wage Germany, VW's labour costs outstrip the competition

Volkswagen of America has a new CEO: Rivian's recently departed chief commercial officer Kjell Gruner.

VW taps former Rivian exec to run US business

The German car maker said Gruner would take over as chief executive of Volkswagen's America operations on Dec. 12.

Volkswagen Chooses Rivian's Kjell Gruner to Lead U.S. Business

Volkswagen appointed former Rivian executive Kjell Gruner as head of its American business Tuesday, as the automaker faces a choppy electric transition and ongoing negotiations with the United Auto Workers union in the region.

Volkswagen appoints former Rivian executive as head of American business

Rivian Automotive

Rivian and VW's partnership is good news for Rivian, but it comes with a big cost to shareholders.

Rivian's Future Is Now Tied to This Giant Competitor

Goldman Sachs analyst Mark Delaney maintained a neutral rating on Rivian Automotive Inc. RIVN and raised the price target from $10 to $12.

Rivian-Volkswagen Deal Strengthens Finances, Yet EV Market Risks Remain: Goldman Sachs

In late October 2024, Volkswagen's works council announced that the group's management was considering closing three factories in Germany, which would lead to the loss of tens of thousands of jobs, as well as a general reduction in salaries. On October 30, the group announced a 63.7% fall in third-quarter net profit.

Volkswagen: the end of a German industrial myth?

Rivian Automotive Inc (NASDAQ:RIVN)'s expanded joint venture with Volkswagen will see a further $800 million pumped into the Tesla Inc (NASDAQ:TSLA) rival, but analysts at UBS have voiced concerns that Rivian “is helping a direct competitor” with the tie-up. While the $5.8 billion total funding injection will provide a substantial safety net for loss-making Rivian's finances, the electric vehicle manufacturer's technology-sharing agreements with VW will need to be prudely managed.

Rivian risks helping direct competitor with Volkswagen joint venture - analyst

Porsche Automobil Holding SE

Atlanta, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Porsche Auto Insurance (PAI), has launched a new Unlimited insurance product designed for Porsche owners who drive over 10,000 miles a year. The new Unlimited product complements the original Pay-per-mile from Porsche Auto Insurance, providing customers with the option to select a fixed policy premium instead of reporting the vehicle mileage. Porsche owners with multiple vehicles can also select Pay-per-mile or Unlimited for each vehicle on their policy, choosing the insurance that best suits their lifestyle and driving habits.

Porsche Auto Insurance introduces new Unlimited Policy

VW increased its planned investment for a joint venture with EV startup Rivian to $5.8 billion as the companies have broader aspirations than initially announced for the operations. VW's capital to Rivian isn't guaranteed, and neither is the success of the joint venture.

VW's $5.8 billion investment in Rivian isn't guaranteed. Here are the milestones the EV maker needs to hit

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Rivian and VW Are Going At It Together

Shares of Rivian jumped over 13% in premarket trading Wednesday after the electric vehicle maker announced a $5.8 billion investment from German automaker Volkswagen as part of their joint venture.

Rivian shares surge on $5.8 bln Volkswagen investment in JV

24/7 Wall St. Insights Volkswagen and Rivian Automotive Inc.

Rivian and VW Try to Save Each Other

The world's second-largest automaker and the Silicon Valley startup are trying to address each other's core weakness.

Inside VW and Rivian's $5.8 Billion Bet to Rescue Each Other

Unipart Signite secures two-year contract with Volkswagen Group UK November 2024 - Unipart, the supply chain solutions and performance improvement technologies partner, has secured a two-year contract to support Volkswagen Group UK to deploy its SAP Enterprise Warehouse Management (EWM) solution within its One Aftersales business, supplying parts for a number of its UK brands and retailers.  Unipart Signite designs, implements and supports its customer's SAP solutions across the globe, combining Unipart's rich heritage in supply chain excellence with more than two decades of experience in building and running SAP systems for some of the world's largest organisations.

Unipart Signite secures two-year contract with Volkswagen Group UK

Volkswagen Group (XETRA:VOW) and US EV maker Rivian Automotive Inc (NASDAQ:RIVN) have forged closer ties with the German car giant agreeing to inject an extra $800 million into the ailing Tesla rival. Instead of the US$5 billion initially agreed in June, VW will now invest US$5.8 billion split between the joint venture and Rivian itself.

Volkswagen to inject even more cash into Rivian

Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create “cutting edge” EV technology.

Rivian, Volkswagen joint venture is upsized to $5.8 billion

The EV company and VW agreed to a partnership in June that could provide Rivian with around $5 billion in capital in the coming years.

Rivian Stock Jumps. The EV Maker Is Getting More Cash From Volkswagen.

Rivian and Volkswagen Group launched on Tuesday the joint venture they had announced in June, valued at $5.8 billion, to share software and electric vehicle architecture.

Rivian, Volkswagen Group launch $5.8 billion joint venture

The companies said the deal is now up to $5.8 billion – up from $5 billion – with the first VW models to use Rivian's software and electrical architecture arriving as early as 2027.

News for Volkswagen AG Stock (VWAGY)