Volkswagen is
ready for Europe s planned 2035 ban on new sales of fossil-fuel
cars as it ramps up its electric vehicle lineup, the carmaker s
top executive said at Munich s IAA mobility show. .
Volkswagen's languishing share price, which is near a three-and-a-half year low, is not the result of ownership control by the Porsche and Piech families, one of its most powerful members said on Monday. Wolfgang Porsche, the grandson of Ferdinand Porsche who founded the sportscar manufacturer that still bears his name, called on Europe's top carmaker to cut more costs and become more efficient. Volkswagen's low valuation, which some investors trace back to Volkswagen's ownership structure related corporate governance issues, has been a long-standing problem that even the landmark listing of its Porsche AG division last year has failed to solve.
MUNICH (Reuters) -Volkswagen is ready for Europe's planned 2035 ban on new sales of fossil-fuel cars as it ramps up its electric vehicle lineup, Chief.
MUNICH (Reuters) -Europe's carmakers have a fight on their hands to produce lower-cost electric vehicles (EVs) and erase China's lead in developing cheaper, more consumer-friendly models, executives said at Munich's IAA mobility show. "We have to close the gap on costs with some Chinese players that started on EVs a generation earlier," Renault CEO Luca de Meo told Reuters at the car show, adding when manufacturing costs decline, prices will also go down. Chinese EV makers, including BYD, Nio and Xpeng are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales.
Ford will push back
series production of its long-awaited SUV Explorer model at its
Cologne site by around six months to wait for a new generation
of Volkswagen battery technology to be available,
its.