Business, Technology, Equipment, Fuel

VW to Spend $2.3 Billion on Battery Hub, Sets Up New Unit

Volkswagen AG will invest 2 billion euros in a planned battery hub in Germany as part of a decision to create a dedicated company for the carmaker’s battery business.

Elisabeth Behrmann | Bloomberg News
December 13, 2021
Business

Daimler to Sell Its $364 Million Stake in Renault

Daimler AG said it intends to dispose of all of its stake in Renault SA, valued at about $364 million.

Elisabeth Behrmann | Bloomberg News
November 10, 2021
Business, Technology, Equipment

Continental Sees Chips, Inflation Dragging on Auto Industry

Continental AG, Europe’s second-biggest supplier of car parts, warned the global bottleneck in chip supply and raw material cost inflation will drag on the auto industry through the rest of the year.

Elisabeth Behrmann | Bloomberg News
August 5, 2021
Business, Technology, Autonomous

Daimler’s Luxury Sheen Shows Cracks After Fourth Profit Warning

Barely three weeks ago, Daimler AG dialed back profit expectations for the year. The move was seen as a housekeeping exercise to allow CEO Ola Kallenius to start with a clean slate.

Elisabeth Behrmann | Bloomberg News
July 12, 2019
Business, Technology

VW Steps Up Software Push With Own Operating System

Volkswagen AG is stepping up the pace of its digital transformation with a plan to pool some 5,000 digital experts into a single unit that will develop “vw.os,” a uniform software operating system across all new models.

Elisabeth Behrmann | Bloomberg News
June 18, 2019
Business, Technology

VW Creates Buzz Before EV Launch

Volkswagen AG is seeking to create buzz months before deliveries start for its first ID. electric car, following the footsteps of Tesla Inc.’s Elon Musk, whose promotion of the Model 3 generated reservation lines around the block.

Elisabeth Behrmann | Bloomberg News
May 2, 2019
Business, Technology

Volvo Exploring Closer Ties With Shareholder Geely in China

Volvo AB is exploring closer ties with Zhejiang Geely Holding Group Co. in China, in a sign the Swedish truckmaker and its largest investor are taking steps to collaborate.

Elisabeth Behrmann | Bloomberg News
April 9, 2019
Business, Technology, Autonomous

VW Joins BMW in Testing Self-Driving Cars on German City Streets

Volkswagen AG has started testing five electric and highly-automated versions of its Golf compact cars on the streets of Hamburg, Germany.

Elisabeth Behrmann | Bloomberg News
April 3, 2019
Business, Technology, Autonomous

VW Pulls Truck Unit IPO in Setback to CEO’s Agility Revamp

Volkswagen AG canceled plans for a partial share sale in its Traton SE division, citing weak markets, a setback to the automaker’s plan to generate fresh funds for the heavy-truck unit’s expansion outside of Europe.

Elisabeth Behrmann | Bloomberg News
March 13, 2019
Business, Technology, Logistics

Ford’s Global Cost Purge Hits Europe With Thousands of Job Cuts

Ford Motor Co. said it will cut thousands of jobs, weed out slow-selling variants and potentially close entire factories in Europe, as the carmakers’s global cost-cutting drive targets a region that has been a drag on earnings for years.

Elisabeth Behrmann | Bloomberg News
January 10, 2019