Volkswagen AG

Volkswagen AG engages in the production and sale of passenger cars and light commercial vehicles. The firm also develops vehicles and components for the brands of the group. It operates through following segments: Passenger Cars and Light Commercial Vehicles, Commercial Vehicles, Power Engineering, and Financial Services. The Passenger Cars and Light Commercial Vehicles segment includes the development of vehicles, engines and vehicle software, the production and sale of passenger cars and light commercial vehicles, and the corresponding genuine parts business. The Commercial Vehicles segment covers the development, production, and sale of trucks, and buses, and the corresponding genuine parts business and related services. The Power Engineering segment deals with the development and production of large-bore diesel engines, turbomachinery, and propulsion components business. The Financial Services segment involves dealer and customer financing, leasing, banking, insurance, and fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

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Volkswagen AG engages in the business of developing vehicles and components for the brands of the group. It operates through the following segments: Passenger Cars and Light Commercial Vehicles; Commercial Vehicles; Power Engineering; and Financial Services. The Passenger Cars and Light Commercial Vehicles segment includes developing vehicles, engines, and vehicle software; producing and selling passenger cars and light commercial vehicles; and the corresponding genuine parts business. The Commercial Vehicles segment focuses on trucks, buses, corresponding genuine parts business, and related services. The Power Engineering segment is involved in large-bore diesel engines, turbomachinery, and propulsion components business. The Financial Services segment provides dealer and customer financing, leasing, banking, insurance, and fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

Volkswagen will exit its controversial plant in China's Xinjiang region after it and its Chinese partner agreed to sell the asset to a Shanghai government-owned buyer, two people familiar with the matter said on Wednesday.

Exclusive: VW to exit Xinjiang operation with sales of local plant, test track, sources say

VWAGY significantly reduces its 21% stake in Northvolt and signs a contract with Novonix to procure synthetic graphite material.

Volkswagen Reduces Stakes in Northvolt, Signs Contract With Novonix

Traton's Q3 financials showed improvement with a 5% increase in unit sales and revenues, and a 120bps rise in RoS to 9.6%. Despite a challenging market, Traton's FY24 outlook remains positive, with expected sales and revenue growth between 5% to 10% YoY and an RoS of 9% to 10%. Traton's valuation is attractive with a PE of 5.2, suggesting low growth expectations, but profitability and stability indicate potential for earnings multiple expansion.

Traton: Stability In A Beaten Down Market

Volkswagen bet big on European-made batteries a few years ago with two massive investments in Northvolt, the Swedish manufacturer. Now, the automaker's €1.4 billion stake is worth less than half that, according to Reuters.

Volkswagen slashes the value of its stake in Northvolt, the beleaguered battery manufacturer

Volkswagen , Northvolt's top shareholder, has significantly written down its 21% stake in the Swedish battery cells maker that filed for bankruptcy protection in the United States last week, two people familiar with the matter said.

Volkswagen has taken major writedown on Northvolt stake, sources say

Volkswagen Group (XETRA:VOW) has “little to gain” in continuing to sell flagship branded cars in the US after the departure of its chief executive there, Stifel analysts have argued. “VW should rethink its regional strategy,” Stifel said in a note in the wake of last week's news that Pablo Di Si would step down in favour of Kjell Gruner as the firm's US head.

Volkswagen should quit US after chief's departure - analyst

Novonix Ltd

Australian battery manufacturer Novonix said on Monday it had signed a binding offtake agreement with Volkswagen-founded PowerCo for the supply of a minimum of 32,000 metric tons of high-performance synthetic graphite.

Australia's Novonix inks deal to supply synthetic graphite to Volkswagen-founded PowerCo

Volkswagen sees no chance of avoiding layoffs and plant closures in order to cut 4 billion euros ($4.2 billion) in costs, the brand's chief executive said in a newspaper interview, amid an escalating dispute with workers.

VW brand boss: layoffs, plant closures needed to fix carmaker's problems

Porsche Automobil Holding SE

Porsche AG (ETR:P911) has been backed with a ‘buy' rating by Citi analysts, which downplayed fears over European car demand and pointed to confidence in a turnaround at the manufacturer. Shares have faced a hefty drop over the past week, adding to a 28% fall for the year so far.

Porsche backed as Citi confident of turnaround

Volkswagen labour representatives have voted for limited strikes from early December, according to a statement from regional IG Metall trade union on Friday.

Volkswagen labour representatives vote for limited strikes from early December

Atlanta, Nov. 21, 2024 (GLOBE NEWSWIRE) -- The Porsche Taycan Turbo GT has been named Road & Track's Performance EV of the Year in the category over $100,000. This marks the second consecutive win for a Taycan in this highly competitive event, with the Turbo S variant claiming top honors in this category last year.

Porsche Taycan wins Road & Track's Performance EV of the Year award for the second time

Negotiations are set to resume on Dec. 9 as the German car maker faces weak demand for electric vehicles and competition from lower-cost Chinese competitors.

Volkswagen Faces Prospect of Strikes in December as Talks With Unions Set to Continue

Volkswagen's union said it would recommend its members go on strike from Dec. 1 as talks over wages and factory closures with the carmaker's management failed to achieve a breakthrough on Thursday.

VW union calls for Dec 1 strikes as wage talks stutter

Volkswagen management and worker representatives begin a third round of wage negotiations on Thursday, with just ten days left to find a solution before unions have threatened to escalate the fight with strikes across German sites.

Volkswagen enters third round of wage talks as strike action looms

Volkswagen Group (XETRA:VOW) workers have offered to forego bonuses for the next two years in an effort to stop the car maker from shutting three plants in Germany as part of an unprecedented cost-cutting move. VW wants to save €1.5 billion in costs but unions have said it is more like €17bn and that if it presses ahead with the plans as they stand it will face a 'historic battle'.

VW facing ' historic battle' as workers dig in against closure plan

Daniela Cavallo faces the battle of her career as she fights what would be the first German factory closures in the automaker's history.

The Unusual Power of VW's Union Boss Is Being Put to the Test

Workers are prepared to make concessions worth 1.5 billion euros ($1.58 billion) in ongoing negotiations with Volkswagen over cost cuts, warning of a far-reaching conflict if the carmaker insists on plant closures.

IG Metall threatens historic labour battle if VW insists on plant closures

Volkswagen is planning to shut factories in every scenario presented to labour representatives, putting both factions on collision course in a dispute over pay and jobs, and raising the spectre of strikes.

VW plans for factory closures cross several red lines, works council chief says

As Volkswagen and unions gear up for the next round of talks over wages and plant closures in Germany, company and industry data reviewed by Reuters show that the automaker spends a higher proportion of sales on labour costs than major rivals.

Exclusive: In high-wage Germany, VW's labour costs outstrip the competition

Volkswagen of America has a new CEO: Rivian's recently departed chief commercial officer Kjell Gruner.

VW taps former Rivian exec to run US business

The German car maker said Gruner would take over as chief executive of Volkswagen's America operations on Dec. 12.

Volkswagen Chooses Rivian's Kjell Gruner to Lead U.S. Business

Volkswagen appointed former Rivian executive Kjell Gruner as head of its American business Tuesday, as the automaker faces a choppy electric transition and ongoing negotiations with the United Auto Workers union in the region.

Volkswagen appoints former Rivian executive as head of American business

Rivian Automotive

Rivian and VW's partnership is good news for Rivian, but it comes with a big cost to shareholders.

Rivian's Future Is Now Tied to This Giant Competitor

Goldman Sachs analyst Mark Delaney maintained a neutral rating on Rivian Automotive Inc. RIVN and raised the price target from $10 to $12.

Rivian-Volkswagen Deal Strengthens Finances, Yet EV Market Risks Remain: Goldman Sachs

In late October 2024, Volkswagen's works council announced that the group's management was considering closing three factories in Germany, which would lead to the loss of tens of thousands of jobs, as well as a general reduction in salaries. On October 30, the group announced a 63.7% fall in third-quarter net profit.

News for Volkswagen AG Stock (VWAGY)