A vintage Volkswagen beetle car at an auto show in Hanover, Germany. Agence France-Presse
Volkswagen is exploring purchasing a big stake in its Chinese electric vehicle joint venture partner JAC Motors and has tapped Goldman Sachs as an adviser on the plan, people with direct knowledge of the matter said. The move by VW, the largest foreign automaker in China, to buy into Anhui Jianghuai Automobile Group (JAC Motors) is the latest by foreign automakers to boost ownership
Traton made a lacklustre start on its debut, as shares in Volkswagen’s truck unit slipped below their initial public offering price. Traton chairman Andreas Renschler and the supervisory board chairman Hans Dieter Poetsch were present at the launch
Ford Motor Co and Volkswagen AG said they will spend billions of dollars to jointly develop electric and self-driving vehicles, deepening a global alliance to slash development and manufacturing costs while positioning VW as the initial winner.
Volkswagen plans to build a fully electric sports utility vehicle (SUV) for China from 2021, taking on the Chinese market leader Tesla’s Model X as the German carmaker ramps up production of zero emissions vehicles. The planned new SUV is the latest move in Volkswagen’s aggressive growth strategy in China, where electric cars are given preferential treatment by authorities.
The State Bank of Pakistan (SBP) is considering the introduction of digital bank accounts for overseas Pakistanis, the central bank’s governor, Reza Baqir, said.
General Motors (GM) is developing an electric van aimed at business users, joining a growing list of carmakers planning EVs for the same segment which includes customers such as Amazon.com and United Parcel Service, five people familiar with the plans told Reuters.
Global passenger air traffic rose 30% in May from a very low level in April, as airlines cut domestic fares by an average 23% to encourage customers to return, the International Air Transport Association (IATA) said on Wednesday.