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.

An audit commissioned by Volkswagen into its jointly owned site in Xinjiang, China, failed to meet key aspects of the international standard the German carmaker's auditor said it had set for the process, the Financial Times reported on Thursday.

Volkswagen's audit of Xinjiang plant failed to meet international standard, FT reports

Union IG Metall repeated its demand that all Volkswagen plants in Germany needed to be kept and a new job security deal should be signed, in a flyer seen by Reuters on Thursday.

IG Metall union calls for VW's German plants to remain

Volkswagen and its Chinese joint venture partner SAIC plan to close at least one plant in China due to slow demand for combustion engine cars, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Volkswagen and JV partner SAIC plan to close China plant, Bloomberg reports

Volkswagen faces a crisis, with management warning of potential challenges within two years due to declining sales and market competition. The company plans to cut spending, adjust output, and possibly close plants, risking labor disputes and political backlash. VW's investment in Rivian aims to bolster its struggling software and electrification efforts, indicating a willingness to take bold steps.

Volkswagen AG Is A Too-Big-To-Fail German Mess That Likely Will Be Fixed

Volkswagen's Audi is looking for an investor for its struggling Brussels plant, the premium brand's production director Gerd Walker said on Tuesday.

Volkswagen's Audi looks for investor for Brussels plant

Stellantis N.V. 

Stellantis has already taken measures and is working hard to avoid the risk of plant closures, as recently announced by rival Volkswagen , the carmaker's CEO Carlos Tavares said on Tuesday.

Stellantis working hard to avoid Volkswagen plant-closing scenario, CEO says

Volkswagen (VWAGY) may be set to slash at least 15,000 jobs, in an effort to cut costs as it battles against stiff competition.

Volkswagen May Cut 15,000 Jobs, Jefferies Says

Thousands of workers descended on Brussels on Monday, causing disruptions near the European Parliament as they set off firecrackers and blocked streets in a large-scale demonstration. The protest was organized to show solidarity with employees at an Audi factory in Brussels facing potential job cuts as part of the shift toward greener technologies.

Audi factory closure plans spark protest by over 5,000 workers near European Parliament

Volkswagen may book billions of euros in provisions for planned capacity cuts as early as the fourth quarter, brokerage Jefferies wrote in a note after accompanying the carmaker's management.

Volkswagen may book 3-4 bln eur in provisions on capacity cuts, Jefferies says

The Volkswagen share price has been in a freefall in the past few weeks as the company's woes continue. The stock dropped to a low of €87.90 this week, its lowest swing since November 2020, and down by 50% from its highest point in 2022.

Volkswagen share price sits at a make-or-break level

Rivian Automotive

After a staggeringly successful IPO, Rivian shares and market value have plummeted. Then, VW invested $5 billion.

Why VW investing $5 billion in Rivian might be transformative for both companies — and the auto industry

Volkswagen and union IG Metall will start talks at the end of September over a new labour agreement for six of its German plants that would replace a crucial job security scheme cancelled by the carmaker earlier this week.

Volkswagen, IG Metall union to start talks about new labour deal a month early

Volkswagen VOW3 0.61%increase; green up pointing triangle is going through its deepest crisis in years. So is Germany.

VW and Germany Were Great for Each Other. Now They're Not.

Volkswagen's stock has declined 17% since my initial "Sell" rating, underperforming the broader market by 38%. VW's falling sales in China, rising competition from Chinese EV automakers, and reduced demand are reasons for concern. Volkswagen's complex shareholder structure and political involvement hinder streamlined decision-making.

Why Volkswagen's Era Might Be Coming To An End

German automotive giant Volkswagen on Tuesday said it was scrapping a slew of labor agreements. "The company sees itself forced to do so because of the current economic challenges," Volkswagen said in a statement translated by CNBC.

Volkswagen scraps a slew of labor agreements as standoff with unions intensifies

Volkswagen gave IG Metall notice on Tuesday it was scrapping a range of labour agreements including a guarantee of jobs until 2029 at six German plants, the union said.

Volkswagen scraps decades-old German job security pact, says union

Porsche Automobil Holding SE

Atlanta, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Porsche Cars North America, Inc. (PCNA) is celebrating the 40th anniversary of becoming a sales organization in North America.

Porsche Cars North America celebrates its 40th anniversary

The U.S. National Highway Traffic Safety Administration said on Tuesday that Volkswagen would recall 98,806 electric SUVs to fix their door handles as they do not offer enough protection against water ingress.

Volkswagen to recall nearly 99,000 EVs in US over door handle issues

German battery recycling start-up Cylib, which counts Porsche and Bosch as backers, broke ground on its first European industrial plant in western Germany, the company said on Monday.

Porsche-backed German start-up Cylib breaks ground on battery recycling plant

Cylib, a startup backed by luxury sports car firm Porsche and appliances maker Bosch, is building a massive battery recycling facility in Germany. The plant, located in the town of Dormagen in western Germany, will span 236,000 square feet.

A Porsche-backed startup is building a massive battery recycling plant to boost Europe's EV industry

The finance chief of Volkswagen's core brand, Patrik Andreas Mayer, is to swap roles with his counterpart at the automaker's Seat subsidiary in Spain, Volkswagen confirmed on Monday.

VW to swap out brand CFO with Seat counterpart

Volkswagen's CEO, who is pushing for unprecedented cutbacks in the German carmaker's home market, said change was needed because the European market is shrinking while competition is increasing.

VW boss says European market shrinking amid tougher competition

While many of Volkswagen's challenges have plagued it for a while, two recent developments have made things worse.

China, price cuts and costs: the fuel driving Volkswagen's crisis

Germany lost cheap Russian energy and faces uncertainty over trade with China. Now it faces a hard test on the third ingredient in its long-time formula for success.

VW factory threat stress-tests Germany's economic model

Volkswagen's PowerCo battery subsidiary will build just one of two planned production lines at its Salzgitter plant in Germany for now, its works council said, as the sector adjusts to slowing demand for electric vehicles.

News for Volkswagen AG Stock (VWAGY)