Page 6 - Volkswagen

Balenciaga joins other brands in quitting Twitter after Musk's takeover

Other companies have paused advertising on the platform, including General Motors, Volkswagen, Pfizer and General Mills.

Porsche overtakes Volkswagen as Europe's most valuable carmaker

Volkswagen is valued at 77.7 billion euros with Mercedes-Benz third among European carmakers with a 57.2 billion euro valuation

Volkswagen readies Porsche IPO in one of Europe's largest listings

Volkswagen was nearing the finish line Wednesday as it readied the sale of shares in luxury carmaker Porsche ahead of an expected market listing that will rank among the largest such offerings in European history. The German automaker estimates the deal could reap as much as 9.5 billion euros ($9.08 billion) that it can use for its push into software, services and electric and autonomous vehicles in line with the shifting focus of the global auto industry. Volkswagen was finishing the process of lining up investors and determining the final share price, which requires a decision of its board of directors, before the listing Thursday. The deal enables Volkswagen to tap into investor interest in Porsche, whose fat profit margins of 15% to 20% on vehicles like the 911 sports car and Cayenne SUV are far above the single-digit profits common to mass-market automobiles. The proceeds will help pay for Volkswagen's massive investments in revamping factories and research and development, sa

Porsche IPO poised to price at top end of range, say bookrunners

Volkswagen, Europe's largest carmaker and Porsche's owner, said earlier this month it would price preferred shares at 76.50-82.50 euros, giving a valuation of up to 75 bn euros

Boost for Europe market as Porsche IPO to raise up to $9.4 bn for parent VW

Porsche isn't alone in scaling back valuation targets, with Intel Corp. lowering expectations for its Mobileye IPO

German court keeps hearing farmer's climate case against Volkswagen

Environmentalists claimed a small legal victory Friday after a court in Germany said it would continue hearing a case brought by a local farmer seeking to force automaker Volkswagen to end the sale of combustion engine vehicles. Ulf Allhoff-Cramer says drier soil and heavier rains due to climate change are harming his fields, cattle and commercial forests. He argues that Volkswagen is partly to blame for this, as the mass production of vehicles running on gasoline contributes significantly to greenhouse gas emissions in the atmosphere. During a first hearing in May, a regional court in the western German town of Detmold appeared to cast doubt on those claims, with judges asking the plaintiff and his lawyers to provide further details to back up their legal arguments. On Friday, the court again asked for further details and set a new hearing for February 3. Environmental group Greenpeace, which supports the case, said it is the first time that a court will consider whether a car ..

Volkswagen to list Porsche in one of biggest IPOs in years: Report

The offering could value Porsche at between 60 billion euros and €85 billion, equivalent to between $59.8 and $84.6 billion, according to analyst estimates

Volkswagen testing electric vehicles under Skoda brand for India

The all-electric Porsche Taycan has a starting price of Rs 1.5 crore, while the Audi e-tron price ranges from Rs 99.99 lakh to Rs 1.18 crore

Volkswagen group testing electric vehicles under Skoda brand for India

Volkswagen group has started testing some electric vehicles from the KODA brand in India as it evaluates the products to be brought to the country for electromobility targetting mass segment

Want to be profitable irrespective of the numbers: Skoda Auto Volkswagen MD

In an exclusive interview with Business Standard, Skoda Auto Volkswagen India MD discusses the company's export and EV plans

Volkswagen's billionaire clan plotted CEO ouster when he was on US trip

Decision blindsided jet-lagged CEO under contract until 2025; software missteps were last straw after labour clashes

Volkswagen ropes in Porsche CEO Oliver Blume to lead as Diess steps down

Volkswagen Group chairman and CEO Herbert Diess is stepping down from his position at the company and will be replaced by Porsche CEO Oliver Blume

Volkswagen CEO Herbert Diess to step down by Sept with Board consent

Herbert Diess, the CEO of the German automaker Volkswagen, is stepping down, the company announced Friday. The Wolfsburg, Germany-based company said Diess, who took over as CEO in 2018, will depart September 1 by mutual consent with the board. His contract was set to expire in 2025. Diess presided over the automaker at a time of significant change in the industry, including a shift toward producing more electric vehicles. Hans Dieter Ptsch, chairman of Volkswagen's supervisory board, thanked Diess in a statement and praised his role in advancing the transformation of the company. Not only did he steer the company through extremely turbulent waters, but he also implemented a fundamentally new strategy, Ptsch said. Oliver Blume, who is now CEO of Porsche, will succeed Diess. Volkswagen also said the company's chief financial officer, Arno Antlitz, will become the new chief operating officer.

Volkswagen to invest over $20 bn on EV batteries, to create 20,000 jobs

The automaker will create a new company called Power Co under CEO Frank Blome and the production at the plant will start in 2025

Volkswagen delivers over 2k mid-size Virtus sedans to customers in 2 weeks

The five-seater, all-new Virtus, was launched in the country on June 9, at an introductory price of Rs 11.21 lakh (ex-showroom) to reignite the premium mid-size sedan segment, as per the company.

M&M drives in Scorpio-N, hopes to stay in top gear with 'disruptor SUV'

Company expects car will impress buyers considering premium offers like Toyota Fortuner, Jeep Meridian and MG Gloster

Top Headlines: Battle for IPL rights, India's ties with Islamic nations

Two of the world's richet men, Jeff Bezos and Mukesh Ambani are set to clash over media rights of the Indian Premier League, which has a brand value of almost $6 billion

Volkswagen drives in mid-sized sedan 'Virtus' priced at Rs 11.21 lakh

The company's new offering would compete with the likes of Honda City, Maruti Ciaz, Hyundai Verna and the recently-launched Skoda Slavia in the mid-sized sedan segment.

'True to DNA': Volkswagen India to focus on premium cars, avoid hatchbacks

Brand image, taxation structure, and 'business economics' behind decision, says senior executive

Volkswagen plans to sell its first electric car in India in 2023

VW to import EVs within 2,500 unit limit to sell in India; carmaker plans to locally assemble EVs in the country by 2027