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.
Global economic leaders on Friday hailed China’s move away from its hardline zero-Covid policy, with the IMF chief saying the “decisive actions” would help revive growth both in the country and globally.
The British public’s expectations for inflation over the next one to two years rose to their joint-highest level in nearly a decade and satisfaction with the Bank of England slid,
A total of 3,186 real estate transactions worth over Dhs9.1 billion were conducted during the week ending 9th December, 2022, according to figures released by the Dubai Land Department (DLD).