Michael Lohscheller and Juergen Klopp at Opel’s booth during the auto show in Frankfurt. 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
Sales of sports utility vehicles (SUVs) and cost cuts helped Volkswagen (VW) shrug off a 1 billion euro legal charge and meet first-quarter operating profit forecasts on Thursday, sending its shares 3.3 per cent higher. Earnings before interest and taxes (EBIT) fell to 3.9 billion euros ($4.37 billion) from 4.2 billion a year earlier but were in line with the 3.92 billion euros expected by analysts.
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.
India cut corporate tax rates on Friday in a surprise move designed to woo manufacturers, revive private investment and lift growth from a six-year low that has led to major job losses and fueled discontent in the countryside.
The 6th Annual Arab Future Cities Summit highlighted the region’s rapid development to become a global leader in smart cities, with Dubai being at the forefront of this transformation.
Amazon.com Chief Executive Officer Jeff Bezos pledged to make the largest US e-commerce company net carbon neutral by 2040 and to buy 100,000 electric delivery vans from a start-up, as employees and consumers