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.

Rivian Automotive

Rivian and Volkswagen Group have finalized a multi-billion-dollar joint venture to develop software, paving the way to let the German auto giant leverage the EV startup's more technical chops in the coming years. Volkswagen will invest up to $5.8 billion by 2027, about 16% more than when the deal was first announced in June.

The Rivian-Volkswagen joint venture deal is now up to $5.8B

The new agreement builds on an earlier announcement in which the German automaker said it would invest up to $5 billion in Rivian, a maker of electric vehicles. The new venture brings them closer.

Volkswagen and Rivian Form Joint Venture, Deepening Alliance

IRVINE, Calif. & WOLFSBURG, Germany--(BUSINESS WIRE)--Rivian Automotive (NASDAQ: RIVN) and Volkswagen Group (XETRA: VOW / VOW3) entered into a transaction agreement to create their new joint venture (JV) – “Rivian and VW Group Technology, LLC”, known as Rivian and Volkswagen Group Technologies – with a total deal size of up to $5.8 billion, which is expected to start on November 13. Through this JV, the companies plan to bring next-generation electrical architecture and best-in-class software t.

Faster, Leaner, More Efficient: Rivian and Volkswagen Group Announce the Launch of their Joint Venture

Volkswagen's luxury division Audi has failed to find a buyer for its struggling plant in Brussels, a spokesperson said on Tuesday, making the closure of the plant likely.

Volkswagen's Audi fails to find buyer for Brussels site

Porsche Automobil Holding SE

New version of the exhilarating Taycan GTS and new all-wheel drive Taycan 4 join the lineup New version of the exhilarating Taycan GTS and new all-wheel drive Taycan 4 join the lineup

Three new models: Porsche expands the second Taycan generation

Volkswagen faces challenges from past scandals, slow BEV adoption, and economic pressures, but aims to revitalize with the Scout brand and cost-cutting measures. VW's direct-to-consumer sales strategy for Scout faces legal opposition from U.S. franchise dealers, complicating its market entry. Despite financial struggles, VW's strong brand portfolio and strategic investments, like in Rivian, suggest potential for long-term growth and profitability.

Volkswagen AG's Fledgling Scout Brand Faces Opposition From Powerful U.S. Dealer Lobby

Dublin, Nov. 11, 2024 (GLOBE NEWSWIRE) -- The "Premium and Luxury Cars in Sweden" report has been added to ResearchAndMarkets.com's offering. Premium and Luxury Cars in Sweden report offers a comprehensive guide to the size and shape of the Premium and Luxury Cars market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth.

Sweden Premium and Luxury Cars Market Report 2024: Volkswagen Group Outperforms Previous Leader Mercedez-Benz, EVs will Continue to Grow in Popularity

Volkswagen's investments chief Sven Fuhrmann is set to step down from the board of Sweden's Northvolt, Swedish daily Dagens Industri (DI) reported on Monday, citing the Nordic country's company registry.

Volkswagen's investments chief to step down from Northvolt board, DI reports

Atlanta, Nov. 08, 2024 (GLOBE NEWSWIRE) -- New car customers rated Porsche as the top premium brand in the J.D. Power 2024 U.S. Sales Satisfaction Index (SSI) StudySM released Thursday.

Number One: Porsche earns top spot for sales satisfaction in J.D. Power Study for the second year in a row

Fisher became the first mother to travel to space on November 8, 1984 Fisher became the first mother to travel to space on November 8, 1984

Porsche Owner Anna Lee Fisher Celebrates 40th Anniversary of First Flight to Space

European auto stocks look cheap. The companies are cutting costs and revamping operations.

European Auto Stocks Are Bargains. 2 Big Things That Could Change That.

Bentley Motors is once again pushing back a target to exclusively offer all-electric vehicles, with plans to continue leaning into plug-in hybrid electric vehicles through at least 2035. The Volkswagen-owned carmaker initially said in 2020 that it planned to exclusively offer all-electric vehicles by the end of this decade.

Bentley Motors further delays all-EV plan amid weak demand as it embraces plug-in hybrids

Volkswagen will recall 114,478 vehicles in the United States on concerns over the driver-side airbag, the National Highway Traffic Safety Administration said on Thursday.

Volkswagen to recall over 114,000 US vehicles over airbag concern, NHTSA says

Workers at Volkswagen's Osnabrueck plant, considered a possible target for closure under the German automaker's restructuring plans, are holding fresh warning strikes on Wednesday as part of regional protests over pay, the IG Metall union said.

VW workers at Osnabrueck plant hold fresh warning strike

TORONTO and MONTREAL, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Porsche Cars Canada, Ltd. (PCL) is pleased to announce a collaboration with ROYALMOUNT in Montreal. This cooperation highlights both companies' aspirations in providing unique luxury customer experiences with a desire to promote sustainable living.

Porsche Canada kicks off collaboration with ROYALMOUNT in Montreal

Volkswagen's planned cost-cutting programme was unavoidable in order to remedy "decades of structural problems" at the German carmaker, CEO Oliver Blume said in an interview published on Sunday.

VW cost cutting necessary after 'decades of structural problems', CEO tells paper

In the city of Zwickau, which has a proud history in the country's mighty automobile industry, there are fears about the economic and political fallout

Volkswagen cuts plan sends shock through the ‘Detroit of east Germany'

POAHY shares are not a vehicle for investing exclusively in Porsche; rather, they provide substantial exposure to VWAGY and other small but innovative ventures. Given the increase in net debt, a dividend cut is likely to be expected. The debt level is shrinking, creating a favorable discount in the share price relative to NAV.

Not Just A Porsche Stock, But It Could Still Hold Hidden Alpha

Germany's cartel office has approved Porsche AG's acquisition of a non-controlling interest in Varta as well as a majority of shares and sole control of the battery maker's business unit for lithium-ion cells for electric cars.

German cartel office approves Porsche's sole control of Varta's V4Drive

VW's new offshoot EV company Scout Motors, which revealed its first two vehicles last week, will use the software and zonal architecture being developed by the joint venture between Rivian and the Volkswagen Group.

Scout Motors EVs will use Rivian-VW software and architecture

The automaker said it needed to urgently cut costs after reporting a sharp fall in third-quarter earnings hurt by weaker car sales in China.

Volkswagen in Drive to Cut Costs as Earnings Plunge

Volkswagen wants its workforce to take pay cuts of 10% in order to remain competitive and safeguard jobs, the company said in a statement on Thursday.

Volkswagen calls for 10% pay cuts

Volkswagen has proposed to cut wages at its brand by 10% to tackle weak demand and high costs, the division's personnel chief Arne Meiswinkel told journalists after the second round of talks with unions.

VW proposes 10% pay cut to tackle crisis

Volkswagen AG (OTCPK:VWAGY) Q3 2024 Earnings Conference Call October 30, 2024 4:00 AM ET Company Participants Pietro Zollino - Head of Corporate Communications & Deputy Head of Group Communications Rolf Woller - Head of Group Treasury & Investor Relations Arno Antlitz - CFO and COO Conference Call Participants Jose Asumendi - JPMorgan Patrick Hummel - UBS Tim Rokossa - Deutsche Bank Horst Schneider - Bank of America Securities Henning Cosman - Barclays Tom Narayan - RBC Capital Markets Stephen Reitman - Bernstein Michael Tyndall - HSBC Daniel Schwarz - Stifel Michael Punzet - DZ Bank George Galliers - Goldman Sachs Operator Ladies and gentlemen, welcome to the Volkswagen AG Investor Analyst and Media Call 9 Months 2024. I am George, the Chorus Call operator.

Volkswagen AG (VWAGY) Q3 2024 Earnings Call Transcript

Volkswagen's current undervaluation presents a significant upside, with potential returns of over 20% annually, driven by improved KPIs and strategic adjustments. Despite challenges, VW's fundamentals remain strong, with a BBB+ rating, low long-term debt, and a well-covered dividend, making it a solid investment. The company is transitioning in 2024, focusing on balancing ICE and EV investments, cutting capacity, and expanding in North America for future growth.

News for Volkswagen AG Stock (VWAGY)