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With many EV models coming out in the market, the competition between automakers just got more intense. BMW, for instance, is joining the trend with its upcoming electric car under $25,000. ....
Ex-Volkswagen CEO Martin Winterkorn charged with false testimony in diesel scandal Volkswagen is struggling to draw a line under its biggest ever corporate crisis in which it admitted using illegal software to rig U.S. diesel engine tests Reuters | June 9, 2021 | Updated 21:04 IST Winterkorn resigned as CEO on Sept. 23, 2015, a week after the scandal was uncovered Prosecutors have charged former Volkswagen chief executive Martin Winterkorn with giving false testimony to the German parliament when he said he was unaware of the carmaker s diesel emissions cheating before it became public. Volkswagen is struggling to draw a line under its biggest ever corporate crisis in which it admitted using illegal software to rig U.S. diesel engine tests. The dieselgate scandal has cost the German carmaker more than 32 billion euros ($39 billion) in fines, refits and legal costs. ....
Volkswagen unable to build 100,000 cars due to ongoing chip shortage Diess, speaking at Volkswagen s annual press conference, said that the carmaker would secure future chip supply via direct agreements with semiconductor suppliers, marking a strategic departure outlined earlier this year Reuters | March 16, 2021 | Updated 17:26 IST Volkswagen Chief Executive Herbert Diess Volkswagen was unable to build 100,000 cars due to an ongoing chip shortage that has hit the automotive sector this year, Chief Executive Herbert Diess said, adding the group would not be able to make up for the shortfall in 2021. Diess, speaking at Volkswagen s annual press conference, said that the carmaker would secure future chip supply via direct agreements with semiconductor suppliers, marking a strategic departure outlined earlier this year. ....
Volkswagen looks towards electric vehicles, cost cuts to raise profit margins Volkswagen aims to more than double deliveries of electric vehicles to 1 million this year, it said, adding it would also apply a standardised platform model introduced for vehicle production years ago to software, batteries and charging Reuters | March 16, 2021 | Updated 17:21 IST Preferred shares in the company rose as much as 5% to their highest level since July 16, 2015 Volkswagen is confident that cost cuts will help it raise profit margins in the coming years, the world s second-largest carmaker said on Tuesday, a day after outlining an ambitious electric mobility expansion. Our good performance in 2020, a year dominated by crisis, will give us momentum for accelerating our transformation, Chief Executive Herbert Diess said in a statement. ....
Read more about Volkswagen CEO tweets in Elom Musk-style, on market-cap milestone on Business Standard. Herbert Diess, chief executive of VW Group, highlighted the UBS note on Twitter and shared the market capitalisation milestone. ....