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.

The German auto giant is the dominant EV leader in the key European market.

Volkswagen Targets Battery Costs and Plans Gigafactories in First ‘Power Day'

Volkswagen hasn't been shy about its plan to catch up to Tesla and become the world's biggest manufacturer of electric cars. And on Monday, the German automaker laid out an aggressive strategy to expand its battery production and make major investments in charging infrastructure. VW announced the plans at its first "Power Day" presentation on Monday, which emulated Tesla's previous "Battery Day" events. During the live stream, executives said the company plans to build six battery-production plants in Europe by 2030 in order to secure battery supply.

VW lays out aggressive strategy to counter Tesla with its own 'gigafactories' and investments in charging infrastructure (VWAGY, TSLA)

Volkswagen AG (OTC: VWAGY) and Swedish battery manufacturer Northvolt announced Monday an expansion to their already existing partnership. What Happened: Volkswagen placed a $14 billion order with Northvolt to supply premium battery cells to be used by its European operations.

Volkswagen Places $14B Order With Battery Manufacturer Northvolt In EV Push

Volkswagen AG's stock has risen by 7.1% over the last five trading days. In comparison, the broader S&P500 rose by 4.9% over the last five trading days.

Volkswagen AG's Stock Rising Before Earnings, Will It Continue?

The race to dominate the electric-vehicle industry may be getting tighter between Tesla and Volkswagen, as the German auto giant revealed plans on Monday to reduce the cost of its batteries and operate a wide-ranging charging network.

Tesla faces race with Volkswagen as German giant targets battery costs and new gigafactories

German carmaker will also focus on the development of a "new unified cell".

VW to ramp up battery cell production with six 'gigafactories' in Europe

Volkswagen AG is gearing up to seize the top spot as the world's largest electric vehicle manufacturer with plans announced Monday to have six 40 Gigawatt hour (GWh) battery cell production plants in operation in Europe by 2030. To get there, the automaker put in a 10-year, $14 billion order with Swedish battery manufacturer Northvolt […]

Volkswagen will bring 240 gigawatt hours of battery production capacity to Europe by 2030

The German automaker will build six gigafactories in Europe and greatly expand its global charging network.

VW Group outlines next-gen battery plans at Tesla-like Power Day

Swedish lithium-ion battery maker Northvolt said on Monday it had received an order worth more than $14 billion over 10 years from Germany's Volkswagen.

Battery maker Northvolt signs $14 billion order from Volkswagen

Northvolt, the Swedish battery manufacturer which raised $1 billion in financing from investors led by Goldman Sachs and Volkswagen back in 2019, has signed a massive $14 billion battery order with VW for the next 10 years. The big buy clears up some questions about where Volkswagen will be getting the batteries for its huge […]

Swedish battery manufacturer Northvolt receives a $14 billion order from VW

Volkswagen, the world's No.2 carmaker, on Monday said it plans to build six battery cell production plants in Europe by 2030 to secure supply for its electric vehicle push.

Volkswagen aims for six battery cell plants in Europe by 2030

Volkswagen plans to gradually switch the type of battery used in its electric vehicles, three sources with knowledge of the matter said on Monday, leaving its supply deals with LG Energy Solution and SK Innovation in doubt.

Volkswagen to switch EV battery type, leaving supply deals in doubt: sources

Volkswagen Group (ETR: VOW) said on Sunday that it intends to slash its workforce in Germany by four thousand jobs. The company plans on offering its older employees early or partial retirement – a move that is expected to cost hundreds of millions of pounds.

Volkswagen to slash its workforce by up to four thousand jobs

Carmaker Volkswagen plans to cut up to 5,000 jobs in Germany by offering early or partial retirement to older employees in a move that could cost 500 million euros ($598 million), the Handelsblatt newspaper reported on Sunday.

Volkswagen to cut up to 5,000 jobs, Handelsblatt newspaper reports

Volkswagen is trading at a valuation that is not very rich. It is well-positioned within the cyclical upturn that is likely to occur with the vehicle market and should be able to take advantage of consumers buying new vehicles.

Volkswagen Is Undervalued And Is Perfectly Positioned For A Cyclical Upturn

Electric vehicle charging group Ionity, whose owners include Volkswagen and Daimler, is looking to sell a minority stake to rake in 400 million-500 million euros ($479 million-597 million), three people familiar with the matter said.

VW-backed EV charging firm Ionity to sell minority stake: sources

Deutsche Bank has nominated Volkswagen's retiring finance chief to its supervisory board at a time that the lender is trying to increase its ties to industry and as it searches for a new chair.

Deutshe Bank appoints retiring VW CFO to board

Volkswagen targets pre-crisis levels in key performance indicators this year, Chief Executive Herbert Diess told German media startup ThePioneer.

Volkswagen CEO aims to approach pre-crisis levels in 2021: ThePioneer

Volkswagen stock rocketed to the highest level in 12 years after CEO Herbert Diess hinted at battery-production news at an event on March 15.  The post Volkswagen Stock Jumps After CEO Teases 'Power Day' appeared first on Investor's Business Daily.

Volkswagen Stock Jumps After CEO Teases 'Power Day'

Swedish battery maker Northvolt has snapped up Cuberg to gain access to the Silicon Valley startup's technology, which will boost the energy density and range of electric-vehicle batteries.

Volkswagen and Goldman Sachs-backed Northvolt snaps up Silicon Valley's Cuberg in EV battery race

With a budding social media presence and a rapidly growing lineup of electric models, Volkswagen Group CEO Herbert Diess is looking to replicate Tesla and Elon Musk's success in more ways than one. The carmaker's latest move is to host a battery-focused event that feels a lot like the "Battery Day" Tesla put on in September.

Volkswagen announced its first 'Power Day' event months after Tesla's long-hyped 'Battery Day'

Volkswagen requires about 300 gigawatt hours (GWh) worth of battery cells a year by the end of the decade for its ambitious roll out of electric vehicles in Europe, two people familiar with the matter told Reuters.

Volkswagen hikes battery cell demand in EV expansion push: sources

The Volkswagen Group has set itself the goal of unprecedented electric-vehicle (EV) energy density after its Swedish battery cell partner snapped up Cuberg today.

Volkswagen Battery Partner Northvolt Snaps Up Cuberg And Aims For 1000Wh/l

Volkswagen strategy chief Michael Jost will quit after more than a decade with the group, he said on his website, adding he would now focus on building smart boats with his family.

Volkswagen strategy chief Jost quits to focus on building smart boats

Tesla

Within the next four years it will be Volkswagen competing with Tesla for the crown of most EV sales globally, according to UBS.

News for Volkswagen AG Stock (VWAGY)