INSIDER
Volkswagen says cost cuts are urgently needed as its earnings decline sharply
Read full article: Volkswagen says cost cuts are urgently needed as its earnings decline sharplyVolkswagen says significant cost cuts are urgently needed as it reports a steep decline in third-quarter earnings and faces employee representatives angry at the possibility of the automakerās first plant closures in Germany.
The EU is imposing duties on electric vehicles from China after trade talks fail
Read full article: The EU is imposing duties on electric vehicles from China after trade talks failThe European Union says it will impose duties on imports of electric vehicles from China on Wednesday after talks between Brussels and Beijing failed to find an amicable solution to their trade dispute.
China has deported a VW executive for allegedly using drugs while in Thailand
Read full article: China has deported a VW executive for allegedly using drugs while in ThailandA senior executive for Volkswagen in China has been deported for allegedly using cocaine and marijuana while on vacation in Thailand.
Recall Roundup: Volkswagen EVs, Bright Builder Kits, Stanley Jr. Garden Sets pulled for safety
Read full article: Recall Roundup: Volkswagen EVs, Bright Builder Kits, Stanley Jr. Garden Sets pulled for safetySeveral popular products are recalled due to serious safety concerns, including Volkswagen electric vehicles, a childrenās fort kit and kidsā garden sets.
As Volkswagen weighs its first closure of a German auto plant, workers aren't the only ones worried
Read full article: As Volkswagen weighs its first closure of a German auto plant, workers aren't the only ones worriedVolkswagen is considering closing some factories in its home country for the first time in the German automakerās 87-year history.
Rivian shares soar on massive cash injection from Volkswagen, starting immediately with $1 billion
Read full article: Rivian shares soar on massive cash injection from Volkswagen, starting immediately with $1 billionShares of Rivian are soaring before the opening bell after Volkswagen agreed to invest $1 billion in the electric vehicle maker immediately and a potential total of up to $5 billion as part of a software development agreement.
Senate report finds parts made with China's forced labor in cars by BMW, Jaguar Land Rover and VW
Read full article: Senate report finds parts made with China's forced labor in cars by BMW, Jaguar Land Rover and VWA Senate inquiry has found BMW, Jaguar Land Rover and Volkswagen have bought parts made by a Chinese company sanctioned under a 2021 law for using forced labor.
Volkswagen revamps its approach in China in bid to overtake upstart EV makers
Read full article: Volkswagen revamps its approach in China in bid to overtake upstart EV makersForeign automakers have been caught flat-footed in China by an electric vehicle boom that has shaken up the market over the last three years.
Tennessee's GOP governor says Volkswagen plant workers made a mistake in union vote
Read full article: Tennessee's GOP governor says Volkswagen plant workers made a mistake in union voteTennessee Republican Gov. Bill Lee says he thinks workers at a Volkswagen plant in Chattanooga made a mistake by voting to unionize under the United Auto Workers in a landslide election.
Tennessee Volkswagen employees overwhelmingly vote to join United Auto Workers union
Read full article: Tennessee Volkswagen employees overwhelmingly vote to join United Auto Workers unionEmployees at a Volkswagen factory in Chattanooga, Tennessee, have voted overwhelmingly in favor of joining the United Auto Workers union, boosting the UAW's nationwide effort to organize nonunion factories.
Southern governors tell autoworkers that voting for a union will put their jobs in jeopardy
Read full article: Southern governors tell autoworkers that voting for a union will put their jobs in jeopardyOn the eve of a vote on union representation at Volkswagenās Tennessee factory, Gov. Bill Lee and five other southern governors are telling workers that voting for a union will put jobs in jeopardy.
US first-quarter auto sales grew 5.1% despite high interest rates, but EV growth slows further
Read full article: US first-quarter auto sales grew 5.1% despite high interest rates, but EV growth slows furtherNew vehicle sales in the U.S. rose 5.1% from January through March, as buyers stayed in the market despite high interest rates.
Major automakers may be using Chinese aluminum produced with Uyghur forced labor, rights group says
Read full article: Major automakers may be using Chinese aluminum produced with Uyghur forced labor, rights group saysA new report says automakers including Tesla, General Motors, Volkswagen and Toyota are failing to ensure they are not using forced labor as part of their China supply chains.
White House backs industry effort to standardize Tesla's EV charging plugs
Read full article: White House backs industry effort to standardize Tesla's EV charging plugsThe White House is lending its support to an auto industry effort to standardize Teslaās electric vehicle charging plugs for all EVs in the United States, part of a broad effort to stimulate their sales to help combat climate change.
UAW says over 1,000 workers at VW plant in Tennessee have signed cards seeking union representation
Read full article: UAW says over 1,000 workers at VW plant in Tennessee have signed cards seeking union representationMore than 1,000 workers at Volkswagenās Tennessee factory have signed cards authorizing a vote to be represented by the United Auto Workers union.
Volkswagen unveils electric luxury sedan at China auto show
Read full article: Volkswagen unveils electric luxury sedan at China auto showVolkswagen is unveiling an electric luxury sedan that promises a 435-mile battery range as global and Chinese automakers display their latest SUVs, sedans and muscle cars at the worldās biggest auto show.
Volkswagen argues that Greg Abbottās choice of judges in lawsuit could tilt emissions case in Texasā favor
Read full article: Volkswagen argues that Greg Abbottās choice of judges in lawsuit could tilt emissions case in Texasā favorBecause the state is a party in Attorney General Ken Paxtonās cases against the companies, Volkswagen lawyers have argued that allowing the Texas governor to appoint justices to a case for which the state stands to win a substantial amount of money would give āthe impression that the State has had undue influence.ā
Davos updates | VW: Supply chain woes ease; orders backed up
Read full article: Davos updates | VW: Supply chain woes ease; orders backed upExecutives with German automaker Volkswagen say at the World Economic Forum meeting in Davos that supply chain problems exacerbated by the Russia-Ukraine war are easing but theyāre dealing with a huge backlog of orders.
Farmer sues VW over climate change; German court has doubts
Read full article: Farmer sues VW over climate change; German court has doubtsA court in Germany cast has doubt on claims by a German farmer that automaker Volkswagen is partly responsible for the impact that global warming is having on his family business.
Justices turn away VW appeals over emissions scandal suits
Read full article: Justices turn away VW appeals over emissions scandal suitsThe Supreme Court has turned away appeals from Volkswagen that sought to stop state and local lawsuits related to the 2015 scandal in which the automaker was found to have rigged its vehicles to cheat U.S. diesel emissions tests.
German carmakers reject environmental groups' climate demand
Read full article: German carmakers reject environmental groups' climate demandGerman automaker Daimler has dismissed a ācease and desistā demand from two environmental groups to commit to ending the sale of combustion engine vehicles by 2030.
Electrify America to double EV charging stations by 2025
Read full article: Electrify America to double EV charging stations by 2025Electrify America, an electric vehicle charging network funded with money paid by Volkswagen as punishment for its emissions cheating scandal, says it plans to more than double its number of charging stations throughout the United States and Canada.
SILVER ALERT: Kerrville police seek missing 88-year-old man with diagnosed cognitive impairment
Read full article: SILVER ALERT: Kerrville police seek missing 88-year-old man with diagnosed cognitive impairmentPolice are searching for an 88-year-old man with a diagnosed cognitive impairment last seen in Kerrville.
Greenpeace apologizes, local police slam Euro 2020 protester
Read full article: Greenpeace apologizes, local police slam Euro 2020 protesterGreenpeace has apologized and Munich police are investigating after a protester parachuted into the stadium and injured two people before Germanyās game against France at the European Championship.
Volkswagen tests electric cars, transit apps on Greek island
Read full article: Volkswagen tests electric cars, transit apps on Greek islandGerman carmaker Volkswagen has launched a five-year project on the small Greek island of Astypalea to test the adoption of electric vehicles in areas switching to sustainable energy generation.
US agency opens 2 safety probes of Volkswagen, Audi vehicles
Read full article: US agency opens 2 safety probes of Volkswagen, Audi vehiclesThe U.S. governmentās road safety agency has opened two investigations into problems with Volkswagen vehicles, including one that alleges serious gasoline leaks under the hood.
Ford to go all electric in Europe by 2030
Read full article: Ford to go all electric in Europe by 2030Ford says it will spend $1 billion to modernize its Cologne, Germany, manufacturing center, converting it into a European electric vehicle factory. (AP Photo/Martin Meissner)DETROIT ā Ford is vowing to convert its entire passenger vehicle lineup in Europe to electric power by 2030 in just the latest sign of the seismic technological changes sweeping the auto industry. Ford expects two-thirds of its European commercial vehicle sales will be electric or plug-in hybrids by 2030. āWe are going all in on electric vehicles,ā Rowley said. The investment is part of Ford's goal of spending at least $15 billion on electric vehicles from now through 2025.
Semiconductor shortage forces automobile production cuts
Read full article: Semiconductor shortage forces automobile production cutsA widening global shortage of semiconductors for auto parts is forcing major auto companies to halt or slow vehicle production just as they were recovering from pandemic-related factory shutdowns. (AP Photo/David Zalubowski, File)DETROIT ā A widening global shortage of semiconductors for auto parts is forcing major auto companies to halt or slow vehicle production just as they were recovering from pandemic-related factory shutdowns. Toyota was forced to slow production of the full-size Tundra pickup at a factory in San Antonio, Texas. "This will minimize the impact of the current semiconductor shortage while ensuring we maintain production at our other North American plants,ā Fiat Chrysler said in a statement. The firm lists major players in the automotive chip market as STMicroelectronics, Infineon Technologies, NXP Semiconductor, Texas Instruments and Toshiba.
Woman, 21, killed in overnight four-vehicle crash, Schertz police say
Read full article: Woman, 21, killed in overnight four-vehicle crash, Schertz police saySCHERTZ, Texas ā A 21-year-old woman is dead following an overnight four-vehicle crash in Schertz, according to Schertz Police Department. The crash happened around 10:51 p.m., Saturday, in the 21500 block of IH-35 southbound. A Nissan Rogue struck a Volkswagen Jetta that was disabled on the highway, according to police. The driver of the Volkswagen was outside of her vehicle, near the front, when the crash happened. Another crash happened as a result of the Nissan striking the Volkswagen, according to police.
Woman, 21, killed in overnight four-vehicle crash in Schertz, police say
Read full article: Woman, 21, killed in overnight four-vehicle crash in Schertz, police saySCHERTZ, Texas ā A 21-year-old woman is dead following an overnight four-vehicle crash in Schertz, according to Schertz Police Department. The crash happened around 10:51 p.m., Saturday, in the 21500 block of IH-35 southbound. A Nissan Rogue struck a Volkswagen Jetta that was disabled on the highway, according to police. The driver of the Volkswagen was outside of her vehicle, near the front, when the crash happened. Another crash happened as a result of the Nissan striking the Volkswagen, according to police.
European Central Bank: Just wait until December
Read full article: European Central Bank: Just wait until DecemberFRANKFURT ā The European Central Bank held off from strengthening its current economic stimulus but its President Christine Lagarde said there was ālittle doubtā that more action would be coming at its December meeting as surging coronavirus infections and new restrictions on activity threaten Europeās economy. āWe have little doubt... that the circumstances will warrant the recalibration and the implementation of this recalibrated package," Lagarde said. Analysts believe that is one reason the bank could take no action Thursday, since there already more stimulus still in the pipeline. Massive ECB stimulus and new spending by governments has helped ward off turmoil on financial markets and cushion the downturn. Airlines, hotels, restaurants and other businesses big and small have suffered a devastating drop in activity.
Former VW boss Winterkorn faces trial on 2nd set of charges
Read full article: Former VW boss Winterkorn faces trial on 2nd set of chargesBERLIN ā A German court has ruled that former Volkswagen CEO Martin Winterkorn must face trial on a second set of charges in the company's diesel emissions scandal, this time accused of market manipulation. Thursday's announcement by the Braunschweig state court followed a decision earlier this month that he must stand trial on fraud charges. No date has been set for either set of proceedings. Winterkorn resigned from Volkswagen days after the U.S. Environmental Protection Agency announced a notice of violation on Sept. 18, 2015. The court said it sent the charges to trial unchanged.
Daimler AG to pay $1.5B to settle emissions cheating probes
Read full article: Daimler AG to pay $1.5B to settle emissions cheating probesWASHINGTON ā Automaker Daimler AG and subsidiary Mercedes-Benz USA have agreed to pay $1.5 billion to the U.S. government and California state regulators to resolve emissions cheating allegations, officials said Monday. The settlement, which includes civil penalties, will also require Daimler to fix the vehicles, officials said. Daimler AG said the settlement would bring costs of about $1.5 billion, while the civil settlement will bring a one-off charge of about $700 million. Fiat Chrysler also is being investigated for allegedly cheating on emissions. In April 2016, the Justice Department asked Daimler to conduct an internal probe into its exhaust emissions certification process.
Former VW boss Winterkorn must stand trial in diesel scandal
Read full article: Former VW boss Winterkorn must stand trial in diesel scandalFRANKFURT A German court has ruled former Volkswagen CEO Martin Winterkorn must stand trial on fraud charges in connection with the company's diesel emission scandal in which it sold cars with software that let them cheat on emissions tests. It said four other defendants would face trial on charges of fraud in connection with aggravated tax evasion and illegal advertising. Winterkorn resigned from Volkswagen days after the U.S. Environmental Protection Agency announced a notice of violation on Sept. 18, 2015. The company had for years been using software that recognized when vehicles were on test stands and turned emission controls on, then turned the emission controls off during normal driving. Volkswagen paid more than 30 billion euros ($33 billion) in fines and settlements over the scandal.
China auto sales up 14.5% in May, recovering after pandemic
Read full article: China auto sales up 14.5% in May, recovering after pandemicChinas auto sales surged 14.5% in May, a second straight month of growth as the global industrys biggest market gradually recovers from the coronavirus pandemic, the China Association of Automobile Manufacturers said Thursday. (AP Photo/Mark Schiefelbein)HONG KONG Chinas auto sales surged 14.5% in May, a second straight month of growth as the global industrys biggest market gradually recovers from the coronavirus pandemic. Sales fell 9.6% last year, their second straight annual decline. The downturn is squeezing brands that are investing billions of dollars to develop electric vehicles under pressure to meet government sales targets. Demand for electric vehicles weakened last year after Beijing reduced subsidies that helped to make China their biggest market, accounting for half of global sales.
German court ruling clears the way to settle VW diesel cases
Read full article: German court ruling clears the way to settle VW diesel casesAccording to the ruling, Volkswagen is basically obliged to pay damages to car owners affected by the diesel scandal. Volkswagen said the decision announced Monday would clear the way for settlement of remaining consumer claims in Germany. The decision affects some 60,000 individual claims brought by car owners there; around 262,000 others have already been covered by an 830 million-euro ($904 million) class-action settlement. āFor the majority of the 60,000 pending cases, this ruling provides clarity,ā the company said in a statement. He had sought the full purchase price but the court ruled he must accept less due to depreciation related to the distance he drove.
VW agrees to $912 million payments for Germans who sued
Read full article: VW agrees to $912 million payments for Germans who suedBERLIN ā German auto giant Volkswagen agreed Friday to pay 830 million euros ($912 million) in damages to hundreds of thousands of customers whose diesel cars were outfitted with software to manipulate emissions readings. The settlement offer was negotiated with Germanyās consumer protection group VZBV, and Volkswagen called it āfair compensation.ā The offer amounts to about 15% of the purchase price of the car, and payments range from between 1,350 euros to 6,257 euros ($1,485-$6,882). It will now be up to some 260,000 customers who had sued Volkswagen in Germany, arguing their cars had lost value due to the emission cheating scandal, to accept the offer or to proceed on their own to try and sue for more. In 2015, U.S. regulators caught Volkswagen using software that turned emissions controls off once the car had passed emissions tests. The company has paid out more than 30 billion euros ($33 billion) in fines, settlements and recalls.
Volkswagen offers 830 mln-euro diesel settlement in Germany
Read full article: Volkswagen offers 830 mln-euro diesel settlement in GermanyAutomaker Volkswagen has offered 830 million euros as a settlement for owners of diesel vehicles that used software to mask excessive emissions. The company said Friday it was making the offer after talks broke down with a German consumer association that had been negotiating for a deal over fees for the plaintiffs' attorneys. The VZBZ consumer association said that the settlement talks failed because Volkswagen was unwilling to set up what it called a ātransparent, trustworthy and secureā way of resolving the claims. In 2015, U.S. regulators caught Volkswagen using software that turned emissions controls off once the car had passed emissions tests. The company has paid out more than 30 billion euros ($33 billion) in fines, settlements and recalls.
German prosecutors charge 6 more in VW emissions scandal
Read full article: German prosecutors charge 6 more in VW emissions scandalFRANKFURT ā Prosecutors in Germany have filed charges against six more individuals in connection with Volkswagen's diesel emissions scandal, bringing the total to 11. The prosecutors' statement did not name the individuals charged. Three of the accused were charged with direct offenses and the other three as accessories to the offenses, meaning they assisted or facilitated them. The prosecutors said 32 more individuals were under investigation. The company has paid more than 30 billion euros ($33 billion) in fines, settlements and recall costs.
Volkswagen, German consumer group in diesel settlement talks
Read full article: Volkswagen, German consumer group in diesel settlement talksBERLIN ā Volkswagen and a German consumer group said Thursday they will conduct talks on a possible settlement in a landmark case in which hundreds of thousands of people aim to establish a right of compensation for cars affected by the automakerās diesel emissions scandal. At the time, the presiding judge suggested that the two sides could consider a settlement, which he said would be possible though very difficult. The case was brought by the Federation of German Consumer Organizations on behalf of more than 400,000 diesel owners. In a statement Thursday, the two sides said that they have agreed to open talks on a possible settlement and that their common aim is āa pragmatic solutionā in the interests of customers. It stressed that it is uncertain whether they will reach a settlement and said both sides have agreed to confidentiality.
German court issues split rulings over VW diesel cheating
Read full article: German court issues split rulings over VW diesel cheatingBERLIN ā A German appeals court has ruled in several lawsuits against automaker Volkswagen, saying consumers who unknowingly bought cars with software installed to cheat diesel emissions tests deserve compensation but those who purchased them later donāt. The Stuttgart appeals court ruled Thursday plaintiffs could demand repayment of the purchase price, minus a portion for usage, for cars bought between 2013-2015. The scandal came to light when U.S. authorities announced the violation in September 2015. It has cost Volkswagen some 30 billion euros ($33 billion) in fines, recalls and settlements, and several former executives have faced legal repercussions. The court rejected damage claims from plaintiffs who purchased vehices in 2016, saying Volkswagenās announcements after the scandal broke were āsufficient in content and scope to inform the public.āThe rulings can be appealed.