The Bombay High Court on Wednesday said it would hear on February 17 a plea filed by Skoda Auto Volkswagen India challenging the tax demand of USD 1.4 billion by Indian customs authorities. The Volkswagen group, currently led in the country by Skoda Auto Volkswagen India, has been accused of deliberately misleading customs authorities through its mode of import of parts as individual units rather than as a component of a 'completely knocked down' (CKD) unit, which attracts higher import duty. The automobile company last month filed a petition in the HC, challenging a show-cause notice issued by the authorities in September 2024 under the Customs Act. On Wednesday, the company's counsels mentioned the plea before a division bench of Justices B P Colabawalla and Firdosh Pooniwalla, seeking urgent hearing. The high court agreed to hear the plea on February 17. The notice alleged that the company misclassified its imports of Audi, Skoda and Volkswagen cars as "individual parts" instea
Volkswagen's unit, Skoda Auto Volkswagen India, also told the High Court in Mumbai tax dispute puts at risk its investments of $1.5 billion in India, and is detrimental to foreign investment climate
Buying a factory would allow China to build influence in Germany's prized auto industry, home to some of the oldest and most prestigious car brands
The manufacturer's deliveries risk slumping again because its namesake VW brand doesn't have a new electric car coming in 2025
Volkswagen will bring the Golf GTI under the government's homologation-free import scheme which allows imports of 2,500 units without meeting local testing norms
Talks have been ongoing since Monday in hopes of reaching an agreement before Christmas to prevent massive strikes
Talks ended after around 13 hours of negotiation in the early hours on Tuesday without a deal but would resume mid-morning, a spokesperson for IG Metall union said
The IG Metall union said workers would down tools for four hours at nine different sites in so-called "warning" strikes across the country
Labour union last week proposed measures it said would save 1.5 billion euros ($1.6 billion), including forgoing bonuses for 2025 and 2026, which Europe's top carmaker dismissed
"If necessary, this will be the toughest collective bargaining battle Volkswagen has ever seen," IG Metall negotiator Thorsten Groeger said in a statement
Amid allegations of Uyghur rights abuses, Volkswagen and SAIC will sell their Xinjiang plant and testing tracks in Turpan and Shanghai's Anting to SMVIC
The IG Metall union, arguing the company was trying to push through more than 17 billion euros in cuts, said its offer was also contingent on stakeholders
Management will start the next round of negotiations with unions representing roughly 120,000 German workers on Thursday. Unions are demanding a 7 per cent pay rise
Shares in the US EV maker, valued at over $11 billion, rose nearly 9 per cent in extended trading
Europe's biggest carmaker has been negotiating for weeks with unions over its plans to revamp its business and lower costs, including considering plant closures in Germany for the first time
Fears of de-industrialization came into focus last month when carmaker Volkswagen announced it was considering for the first time in its history closing factories in Germany
Volkswagen said earlier this month it was considering shutting plants in Germany for the first time in its history
Germany is confronting the most symbolic moment yet in its story of industrial decline as its biggest manufacturer is poised to cross the Rubicon of factory closures
Cavallo warned emotions will run high and management will be "very uncomfortable" at the meeting, expected to last several hours
VW has lost almost a third of its stock market value over the past five years, making it the worst performing stock among the major European carmakers