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.

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Shares in Volkswagen rose as much as 3.7% on Tuesday after the carmaker said its CEO had the full support of its supervisory board, temporarily ending a power struggle over the measures to accelerate the push towards electric cars.

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Volkswagen's supervisory board on Monday said Chief Executive Herbert Diess had its full support as he leads a new executive team to transform the German automaker but stopped short of bringing forward a contract extension.

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Volkswagen's supervisory board is due to discuss a reshuffle of the company's management board on Thursday, two people familiar with the matter said on Tuesday, as the world's largest carmaker seeks to defuse a leadership crisis.

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The chief executive of Volkswagen, the world's largest vehicle maker by sales, expects autonomous vehicles to be ready for sale between 2025 and 2030, he told a magazine.

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Volkswagen AG, the biggest foreign automaker in China, on Friday said China's overall auto production could be interrupted after the COVID-19 pandemic disrupted chip supplies globally for some electronic components.

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VW's silence after a top committee reportedly discussed CEO Herbert Diess's call to back his plan to reform the company's lack-lustre financial performance, saw VW shares dive just over 1% Wednesday. Unconfirmed reports suggested the talks would resume at a full Supervisory Board meeting next week.

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The auto industry faces a new wave of consolidation as cars become electric, connected and add highly automated driving functions, Alexander Hitzinger, head of Volkswagen's Project Artemis said on Wednesday.

News for Volkswagen AG Stock (VWAGY)