Trends - Volkswagen - Business Recorder

Volkswagen

Volkswagen shares gain as power struggle ends - for now

At the same time, Diess dropped his demand for an early extension of his contract, which runs until 2023, according to people close to the supervisory board.

Published 15 Dec, 2020 04:35pm

Business & Finance

Volkswagen supervisory board to meet Monday to discuss leadership crisis

Supervisory board chairman Hans Dieter Poetsch, seeking to find a solution, held talks with main stakeholders over the weekend, one source said.

Published 14 Dec, 2020 05:53pm

Business & Finance

VW supervisory board seeks ways to defuse leadership stand-off

VW directors held meeting on Wednesday.
VW directors seek to break management stalemate.
VW CEO demanded vote of confidence, contract extension.

Published 10 Dec, 2020 02:23am

Business & Finance

Volkswagen explores new sales model for electric models in China

The German automaker said on Wednesday that customers can order vehicles at a fixed price directly through the company website, phone app or from authorised dealers.

Published 09 Dec, 2020 06:44pm

Business & Finance

Volkswagen CEO expects autonomous cars on the market after 2025

Herbert Diess cited the improving performance of computer chips needed in autonomous cars while developments in artificial intelligence are also speeding the process.

Published 06 Dec, 2020 06:28pm

Business & Finance

Chip shortages could slow automotive production, VW and suppliers say

VW says China auto production could be hit by shortage.
Continental says supply delays could last 6-9 months.
NXP says faces "severe shortage" of chips, is raising prices.

Published 05 Dec, 2020 12:12am

Business & Finance

China's car production may face disruptions from chip shortage: VW says

Volkswagen also said it was closely monitoring the situation, and had already started coordinating with its HQ and suppliers to take appropriate countermeasures.

Published 04 Dec, 2020 05:34pm

Business & Finance

Volkswagen faces leadership crisis as CEO demands confidence vote

Osterloh is also said to oppose an early contract extension for Diess, one of the three sources said.

Published 01 Dec, 2020 05:10pm

Business & Finance

Volkswagen plans small electric car for the masses

Volkswagen did not provide details on what the vehicle might look like, when it might be launched or where it might be built.

Published 27 Nov, 2020 03:32pm

Business & Finance

Volkswagen to invest 1bn euros into Slovak plant

The investment will go into projects across the model range made in Slovakia and will create 2,000 jobs in the coming years,

Published 16 Nov, 2020 05:38pm

Business & Finance

VW hikes investment into autonomous, electric car tech to 73bn euro

VW presents new 5-year investment plan.
Aims to spend 50% of budget on electric, hybrid, digital.
Doubles planned spending on digital tech.

Published 13 Nov, 2020 07:11pm

Business & Finance

Volkswagen takes on Tesla with first ID.4 electric models in China

The ID.4 CROZZ model is being made by Volkswagen's joint venture with FAW Group, while the ID.4 X is produced by a separate venture with SAIC Motor.
The starting price for Model 3 sedans in China is currently 249,900 yuan, after subsidies.

Published 03 Nov, 2020 08:02pm

Business & Finance

VW steers back to profit in third quarter

VW said it sold 2.6 million vehicles worldwide in the third quarter, 1.1 percent fewer than in the corresponding period a year earlier.

Published 29 Oct, 2020 06:21pm

Business & Finance

VW raises Navistar bid to $44.50/share to clinch trucks deal

VW's Traton to pay $3.7 bln for rest of Navistar.
Deal values Navistar at $4.4 bln.
Deal hinges on due diligence, agreement of terms.

Published 17 Oct, 2020 12:28am

Business & Finance

Volkswagen's electric SUV opens a new front against Tesla

The ID.4's driving range is less than Tesla's Model Y electric compact SUV, which offers more than 300 miles (483 km)between charges.
The ID.4 will initially come at a price of $39,995 and will be about $5,000 less expensive once the company begins building it in the United States, Volkswagen said.

Published 23 Sep, 2020 11:54pm

Business & Finance

Volkswagen reveals ID.4 electric SUV with 250-mile range

Volkswagen is offering the ID.4 at a lower price than Tesla's Model Y and customers can further benefit from federal and state electric vehicle subsidies.

Published 23 Sep, 2020 08:36pm

Business & Finance

Volkswagen plans to take stake in Sixt

VW could take a stake of up to 15% in Sixt in the form of ordinary and preferred shares via a capital increase.

Published 16 Sep, 2020 06:57pm

Business & Finance

VW's trucks arm Traton sweetens Navistar offer to $43 per share

VW's trucks arm makes bid for US peer Navistar.
Traton sweetens takeover offer to $43 from $35 per share.
Volkswagen says aim is for full takeover.

Published 10 Sep, 2020 07:20pm

Business & Finance

VW-backed battery maker QuantumScape to go public at $3.3bn valuation

San Jose-based QuantumScape, a 2010 spinout from Stanford University, said it will form a joint venture with VW to produce solid-state battery cells.
A SPAC is a shell company that raises money through an IPO to buy a private operating company, typically within two years.

Published 03 Sep, 2020 08:09pm

Business & Finance

Volkswagen to test autonomous vehicles in Chinese city Hefei

China has become a hot spot for trying out autonomous driving vehicles. Toyota-backed Pony.ai, Baidu Inc , Nissan-backed WeRide and Didi Chuxing are all testing autonomous cars.
Volkswagen also has ventures with state-owned China FAW Group Corp Ltd and SAIC Motor Corp Ltd.

Published 26 Aug, 2020 07:18pm

Markets

Stuttgart prosecutor drops market manipulation charges against VW chairman

Proceedings have been dropped against Hans Dieter Poetsch and Matthias Mueller, a former chief executive of Volkswagen.
The company welcomed the settlement and reiterated that Poetsch and Mueller had not violated disclosure rules.

Published 20 Aug, 2020 05:05pm

Business & Finance

VW's Skoda deliveries fall 31pc, expects markets to stabilise

"In June we were able to make significant gains compared to the previous months," Skoda's board member for sales, Alain Favey, said.

Published 31 Jul, 2020 04:30pm

Business & Finance

VW asks US appeals court to reconsider ruling on diesel emissions updates

The 3-0 ruling in June said Utah's Salt Lake County and Florida's Hillsborough County could seek "staggering" damages over updates made to polluting diesel vehicles after they were sold.
VW said in court papers on Thursday that the ruling, if upheld, could have sweeping ramifications for the US auto industry.

Published 31 Jul, 2020 02:42am

Business & Finance

Ford lifted by VW's Argo investment, posts quarterly profit

German automaker VW closed its $2.6 billion investment in Argo last month.
Ford said on July 27 it repaid $7.7 billion of an outstanding $15.4 billion on its revolving credit facilities.

Published 31 Jul, 2020 02:35am

Business & Finance

Volkswagen cuts dividend as profits evaporate in pandemic sales slump

The multi-brand car and truck maker predicted a significant decline in full-year sales, even though it said it was seeing a gradual recovery globally as lockdowns eased.

Published 30 Jul, 2020 04:14pm

Business & Finance

Volkswagen says CEO Diess enjoys full backing from supervisory board

In the wake of the clash, Diess handed responsibility for managing the core VW brand to internal veteran Ralf Brandstaetter.

Published 30 Jul, 2020 03:41pm

Markets

VW sees Amazon-built 'industrial cloud' as future B2B marketplace

VW has opened the portal to the first group of supplier partners, led by Siemens AG.

Published 23 Jul, 2020 04:18pm

Business & Finance

Audi expects pre-pandemic car sales levels by 2022/2023

We certainly expect the coronavirus crisis to have longer-term effects.
We have had a very difficult second quarter. Things are slowly picking up, but not as a sharp 'V' as one would wish for.

Published 23 Jul, 2020 12:50am

Business & Finance

Volkswagen warns Korean battery row could lead to ‘catastrophic’ supply disruption

Ford said that LG Chem's assertion that it can replace SK Innovation as a supplier is not "credible" given EV battery supply shortages and the long development period required for EVs.

Published 21 Jul, 2020 04:00pm

Business & Finance

VW's Skoda boss Maier to step down at end of July

Skoda, which did not give a reason for Maier's departure, said a successor would be elected by the board in August.
Maier took the helm as chairman in November 2015, coming from Porsche.
The change at Skoda comes amid a broader management reshuffle at the VW Group.

Published 09 Jul, 2020 08:33pm

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Dec 10 786 Investments Limited(786)	5.74 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Dec 10 Al-Abbas Sugar Mills Limited(AABS)	526 ▼ 0.00 (0.00%)
Agro Allianz / Dec 10 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Dec 10 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Dec 10 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Dec 10 Allied Bank Limited(ABL)	90.51 ▼ 0.00 (0.00%)
Abbott Lab. / Dec 10 Abbott Laboratories (Pakistan) Limited(ABOT)	500.43 ▼ 0.00 (0.00%)
Abson Ind. / Dec 10 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Dec 10 Alfalah Consumer Index ETF.(ACIETF)	10.99 ▼ 0.00 (0.00%)
Attock Cement / Dec 10 Attock Cement Pakistan Limited(ACPL)	105.15 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Dec 10 786 Investments Limited(786)	5.74 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Dec 10 Al-Abbas Sugar Mills Limited(AABS)	526 ▲ 0.00 (0.00%)
Agro Allianz / Dec 10 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Dec 10 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Dec 10 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Dec 10 Allied Bank Limited(ABL)	90.51 ▲ 0.00 (0.00%)
Abbott Lab. / Dec 10 Abbott Laboratories (Pakistan) Limited(ABOT)	500.43 ▲ 0.00 (0.00%)
Abson Ind. / Dec 10 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Dec 10 Alfalah Consumer Index ETF.(ACIETF)	10.99 ▲ 0.00 (0.00%)
Attock Cement / Dec 10 Attock Cement Pakistan Limited(ACPL)	105.15 ▲ 0.00 (0.00%)

Stock	Volume
K-Electric Ltd. / Dec 10 K-Electric Limited(KEL)	342,535,258 ▲ 0.00
WorldCall Telecom / Dec 10 Worldcall Telecom Limited(WTL)	98,557,282 ▲ 0.00
P.T.C.L. / Dec 10 Pakistan Telecommunication Company Ltd(PTC)	58,736,500 ▲ 0.00
Kohinoor Spining / Dec 10 Kohinoor Spinning Mills Limited(KOSM)	56,593,500 ▲ 0.00
Fauji Foods Ltd / Dec 10 Fauji Foods Limited(FFL)	47,998,197 ▲ 0.00
Cnergyico PK / Dec 10 Cnergyico PK Limited(CNERGY)	46,684,647 ▲ 0.00
B.O.Punjab / Dec 10 The Bank of Punjab(BOP)	32,876,325 ▲ 0.00
Pak Elektron / Dec 10 Pak Elektron Limited(PAEL)	29,819,540 ▲ 0.00
Hascol Petrol / Dec 10 Hascol Petroleum Limited(HASCOL)	27,935,500 ▲ 0.00
Pak Int.Bulk / Dec 10 Pakistan International Bulk Terminal(PIBTL)	25,443,500 ▲ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 8	284.30
USD PKR Interbank Buying / Dec 8	283.95
USD to Japanese Yen / Dec 8	144.95
USD to Swiss Franc / Dec 8	0.88
Pound Sterling to USD / Dec 8	1.25
Euro to USD / Dec 8	1.08
UK LIBOR % / Dec 8	5.48

Stock	Volume
S&P 500 / Dec 8	4604.37
India Sensex / Dec 8	69825.60
Tokyo Nikkei / Dec 8	32307.86
Nasdaq / Dec 8	14403.97
Hang Seng / Dec 8	16334.37
FTSE 100 / Dec 8	7554.47
Dow Jones / Dec 8	36247.87
Germany DAX 30 / Dec 8	16759.22
France CAC40 / Dec 8	7526.55

Item	Value
Crude Oil USD/Barrel / Dec 8	71.23
Karachi Cotton PKR/37.32 KG / Dec 8	17235
Gold 10 Grams PKR / Dec 8	187414
Gold Spot USD/Ounce / Dec 8	2004.67
Cotton US¢/pound / Dec 8	81.44

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Volkswagen

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