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 AG (OTCPK:VWAGY) Q2 2024 Earnings Conference Call August 1, 2024 3:00 AM ET Company Participants Sebastian Rudolph - Vice President, Global Group Communications Rolf Woller - Head, Treasury & Investor Relations Oliver Blume - Chief Executive Officer Arno Antlitz - Chief Financial Officer & Chief Operating Officer Conference Call Participants Tim Rokossa - Deutsche Bank Mike Tyndall - HSBC Patrick Hummel - UBS José Asumendi - JPMorgan Horst Schneider - Bank of America Henning Cosman - Barclays Philippe Houchois - Jefferies Michael Punzet - DZ Bank Operator Ladies and gentlemen, welcome to the Volkswagen Investor Analyst and Media Call First Half 2024. I am George the Chorus Call operator.

Volkswagen AG (VWAGY) Q2 2024 Earnings Call Transcript

Volkswagen on Thursday reported a drop in its second-quarter profits as it recorded €1 billion ($1.1 billion) worth of restructuring costs and faced mounting competition from Chinese rivals.

Volkswagen's profits slump in face of mounting competition from China

Volkswagen on Thursday reported a 2.4% drop in its second quarter operating profit as Europe's top automaker continues to cut costs and revamp its model range.

Volkswagen's profit falls as restructuring, costs weigh on first half

The United States and Mexico announced a course of remediation at a Volkswagen plant in Mexico where the Mexican government had agreed to review alleged labor rights violations.

US, Mexico announce remediation at Volkswagen plant for worker rights protection

Porsche Automobil Holding SE

The Porsche Technology Apprenticeship Program sets the gold standard in automotive technical training. The Porsche Technology Apprenticeship Program sets the gold standard in automotive technical training.

Porsche celebrates 25 years of automotive technical training excellence

Rivian Automotive

Germany's Volkswagen and U.S electric car maker Rivian Automotive may form a joint venture, the German competition authority said on Monday.

German antitrust body gives green light to VW-Rivian joint venture

The Taycan also earned best-in-class in its segment for the second year in a row. The Taycan also earned best-in-class in its segment for the second year in a row.

Porsche named most appealing premium brand in J.D. Power 2024 APEAL study

Porsche said it was fighting to restore production volumes and to re-prioritise spending after supply chain snags, slow EV demand and a sales slump in China weighed on results in the first half.

Porsche bids to restore production, boost margins after weak first half

Porsche fell more than 5% Tuesday after luxury car maker slashed future sales and profit outlook, citing an unexpected aluminum alloy supply shortage.

Porsche slips 5% after lowering profit outlook over alloy shortage

Automotive and auto-adjacent shares took a hit on Tuesday after copping a knock-on effect from a Porsche AG (ETR:P911) profit warning. Porsche warned that supply shortages of certain aluminium alloys due to production facility floodings will cause a multibillion-euro hit to full-year revenues and narrower profit margins.

Auto stocks Dowlais, Aston Martin fall following Porsche profit warning

Volkswagen Group (XETRA:VOW)-owned luxury carmaker Porsche AG (ETR:P911) has issued a profit warning a day after announcing it is ditching its 2030 electric vehicle sales targets. Porsche is “currently affected by a significant supply shortage with regard to special aluminium alloys” following a flooding at a production facility, it said in a statement.

Porsche issues profit warning due to production facility flooding

Shares of sportscar maker Porsche slumped on Tuesday after a profit warning, which the group blamed on a supply shortage of specialist aluminum alloys.

Porsche warns on profits due to aluminum shortage

Shares in automaker Porsche fell on Tuesday after the company cut its 2024 outlook. Porsche said various suppliers were affected by a shortage of special aluminium alloys.

Porsche shares fall 5% after automaker cuts 2024 outlook on aluminium alloy shortage

When Volkswagen Group last month invested $5 billion in U.S. electric truck-and-SUV maker Rivian , the startup's shares soared on the cash infusion.

Volkswagen is reeling in China. Can EVs help it grow in the US?

Luxury niche players and automakers with significant EV volume have higher sales multiples compared to traditional automakers transitioning. Porsche AG's underperformance in the stock market can be attributed to a buy-the-rumor, sell-the-news pattern. Porsche's valuation is lower than Tesla and Ferrari due to its commercial strategy and potential challenges ahead, but the brand's value provides optionality for future success.

Porsche's Options: Luxury Heritage Vs. Premium Mass-Market Growth

Porsche on Tuesday lowered its sales forecast for the year to between 39 billion and 40 billion euros ($43.56 billion) and warned of impairments in production spurred by a supply shortage of aluminium alloys impacting various suppliers.

Porsche adjusts FY outlook, warns of impairments due to alloy supply shortage

XPeng

XPeng (XPEV) American depositary receipts (ADRs) surged on Monday after it said it would co-develop electrical/electronic (E/E) architecture with Volkswagen for the latter's electric vehicles (EVs) produced in China.

XPeng Jumps on Technology Collaboration With Volkswagen in China

Luxury carmaker Porsche expects the transition to electric vehicles to take longer than it thought, it said on Monday, having previously said its aim was for 80% of sales to be all-electric by 2030.

Porsche waters down EV ambitions, says transition will take 'years'

Porsche has abandoned its target for 80% of sales to be electric by 2020. Instead, the VW-owned luxury car maker will see how electric vehicle sales develop around the world.

Porsche the latest to dump EV target as sales stall

ON Semiconductor

The chip maker will provide advanced silicon carbide microchips for Volkswagen to use in next-generation electric vehicles.

ON Semi Stock Is Rising. A Volkswagen Deal Makes EVs Better.

German carmaker Volkswagen Group (XETRA:VOW) has expanded its partnership with Chinese EV firm Xpeng Inc (NYSE:XPEV) XPeng, via a new master agreement, secures its technology partnership with VW with the new agreement envisaging the first EV with a new tech architecture to start production in 24 months. Specifically, the tie-up see a collaboration on the development of a electrical/electronic (E/E) architecture for vehicles produced in China, based on Volkswagen's China Main Platform (CMP) and Modular Electric Drive Matrix (MEB) platform.

Volkswagen deepens ties with Chinese EV firm XPeng

Chinese electric vehicle (EV) maker Xpeng said on Monday it has established a project house in partnership with German automaker Volkswagen AG for engineers to accelerate the development process of new architecture for EVs.

Xpeng, Volkswagen set up project house to roll out new EV architecture

XPENG and the Volkswagen Group will jointly develop industry-leading E/E Architecture for all locally produced vehicles based on Volkswagen's China Main Platform (CMP) and Modular Electric Drive Matrix (MEB) platform The first vehicle equipped with the jointly developed E/E Architecture will SOP (Start of Production) within approximately 24 months Both parties will actively explore further collaboration opportunities to expand the scope of the usage of the jointly developed E/E Architecture GUANGZHOU, China, July 22, 2024 (GLOBE NEWSWIRE) -- XPeng Inc. (the “Company” or “XPENG”) and the Volkswagen Group are pleased to announce today that, further to XPENG's announcement dated April 17, 2024 (the “Announcement”) in connection with the framework agreement on technical collaboration with respect to electrical/electronic architecture (“E/E Architecture”), XPENG and the Volkswagen Group have entered into a Master Agreement on E/E Collaboration (“Master Agreement”) which solidifies both parties' commitment to jointly develop industry-leading E/E Architecture for all locally produced vehicles based on Volkswagen's China Main Platform (CMP) and Modular Electric Drive Matrix (MEB) platform. The execution of the Master Agreement not only signifies the expeditious joint development of E/E Architecture in China by the parties but also paves the way for potential expansion of collaboration on E/E Architecture.

Master Agreement on E/E Architecture Technical Collaboration With Volkswagen Group

Volkswagen's CEO discussed free and fair trade, the global economy and technology in meetings with China's industry and commerce ministers on Friday, according to statements by ministries and VW.

VW CEO talks trade, tech with Chinese ministers in Beijing

Volkswagen's CEO Oliver Blume talked about framework conditions for the use of technologies like AI and autonomous driving as well as the importance of free and fair trade in a meeting on Friday with Chinese government ministers, Volkswagen said.

News for Volkswagen AG Stock (VWAGY)