volkswagen

Business

VW Board Backs CEO to Ease Tensions After Turmoil

Volkswagen CEO Herbert Diess speaks during a Bloomberg Television interview in November 2019. Volkswagen CEO Herbert Diess speaks during a Bloomberg Television interview in November 2019. (Krisztian Bocsi/Bloomberg News)

Volkswagen AG’s supervisory board accepted an apology from CEO Herbert Diess, with the unusual public statement reflecting the tension caused by an internal dust-up.

Christoph Rauwald | Bloomberg News
June 9, 2020
Business

Volkswagen CEO Herbert Diess Giving Up Managing VW Brand

Herbert Diess Volkswagen CEO Herbert Diess by Krisztian Bocsi/Bloomberg News

Herbert Diess, CEO of Volkswagen, ceded direct control of the German company’s main passenger car brand after clashing with labor unions over production issues affecting two key models.

Christoph Rauwald | Bloomberg News
June 8, 2020
Business, Technology, Autonomous

Self-Driving Startup Argo Completes $2.6 Billion Tie-Up With VW

Cameras are seen on the roofs of Argo AI modified Ford Fusion autonomous vehicles. Cameras are seen on the roofs of Argo AI modified Ford Fusion autonomous vehicles in the company's headquarters in Pittsburgh. (Justin Merriman/Bloomberg News)

Argo AI, the self-driving startup tightly aligned with Ford Motor Co., completed an expected tie-up with Volkswagen AG involving a $2.6 billion investment from the German automaker.

Keith Naughton | Bloomberg News
June 2, 2020
Business, Technology, Fuel, Autonomous, TCA

Report Projects Volkswagen to Be First to Profit From Manufacturing Electric Vehicles

Volkswagen ID.4 Volkswagen ID.4 by Volkswagen AG

A new report picks Volkswagen as the first incumbent global carmaker to make money selling electric vehicles, with profits expected to arrive by 2022.

Mike Pare | Chattanooga (Tenn.) Times Free Press
March 12, 2020
Business

VW to Start Search for New CFO

Volkswagen AG logo. (Krisztian Bocsi/Bloomberg News)

Volkswagen AG Chief Financial Officer Frank Witter is set to leave by the middle of next year after the carmaker agreed not to extend his contract by the customary five-year period, according to people familiar with the matter.

Christoph Rauwald | Bloomberg News
February 20, 2020
Business, Safety

Volkswagen Postpones Restart of China Joint Venture Production

Workers assemble a Volkswagen car. (Krisztian Bocsi/Bloomberg News)

Volkswagen AG has postponed the resumption of production at its China joint ventures in the latest sign of the coronavirus’ impact on economic activity.

Alexander Kell | Bloomberg News
February 10, 2020
Business, Technology, Breaking News

Volkswagen's Traton Unit Submits Buyout Offer for Navistar

The Navistar-Traton booth at IAA The Navistar/Traton SE booth at IAA in 2018. (Joe Howard/Transport Topics)

Navistar International Corp. said it has received an unsolicited buyout offer from its European truck partner Traton SE — which is owned by Germany’s Volkswagen AG — in a $35 per share cash offer.

Joe Howard | Executive Editor
January 30, 2020
Business, Technology

VW’s Herbert Diess Confident He Can Catch Tesla in Electric Car Race

Herbert Diess, Volkswagen AG CEO, pauses during a Bloomberg Television interview at the World Economic Forum on Jan. 24. Herbert Diess, Volkswagen AG CEO, pauses during a Bloomberg Television interview at the World Economic Forum on Jan. 24. (Simon Dawson/Bloomberg News)

Volkswagen AG CEO Herbert Diess is preparing to muscle Elon Musk out of the electric-car lead.

January 24, 2020
Government, Business, Technology, Fuel

Volkswagen Raises Forecast for Electric Car Production

Volkswagen logo Jens Meyer/Associated Press

FRANKFURT, Germany — Automaker Volkswagen is accelerating its move into battery-powered cars, saying it will reach its goal of 1 million electric cars per year two years earlier than planned.

David McHugh | Associated Press
December 27, 2019
Business, Technology

German Automaker Audi to Cut 9,500 Jobs by 2025

Audi logo Matthias Schrader/Associated Press

BERLIN — Volkswagen subsidiary Audi says it’s cutting 9,500 jobs in Germany through 2025 as part of a transformation plan to make the company “lean and sustainable.”

November 26, 2019

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