Volkswagen

Volkswagen to Invest in Mines in Bid to Become Global Battery Supplier

Volkswagen plans to invest in mines to bring down the cost of battery cells, meet half of its own demand and sell to third-party customers, the carmaker’s board member in charge of technology said. Its strategy aligns with a wider trend of carmakers seeking greater control over parts of the supply chain traditionally left to […]

Volkswagen to Invest $193 Billion Over 5 Years to Hit EV Target

Volkswagen plans to invest 180 billion euros ($192.76 billion) over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending on combustion engines to fall from 2025. As it works toward a target of 50% electric vehicle (EV) sales globally by 2030, over two-thirds of […]

Volkswagen: To Share Results of Mock Listing Exercise in June

Volkswagen will share the outcome of a mock listing exercise for its brands and Volkswagen Group instigated by Chief Executive Oliver Blume at a capital markets day on June 21, Blume said on Tuesday. The carmaker intended to keep its combustion engine models competitive for as long as they are on the market but was […]

Volkswagen Picks Canada for First Battery Cell Plant Outside Europe

Volkswagen chose Canada to build its first battery cell plant outside Europe, granting its cars access to both Canadian and U.S. subsidies as it works to localise electric vehicle production chain in the region. Volkswagen AG confirmed in December it was looking for sites for a Canadian plant, six months after signing a memorandum of […]

Elon Musk’s Challenge: Stay Ahead of the Competition

Elon Musk will confront a critical challenge during Tesla’s Investor Day on March 1: Convincing investors that even though rivals are catching up, the electric-vehicle pioneer can make another leap forward to widen its lead. Tesla Inc was the No. 1 EV maker worldwide in 2022, but China’s BYD and others are closing the gap […]

Volkswagen to Develop New Semiconductor with STMicro Amid Chip Crunch

Germany’s Volkswagen and Franco-Italian chipmaker STMicroelectronics will co-develop a new semiconductor amid a global microchip crunch that has strained the car industry’s supply chain, the companies said on Wednesday. The move illustrates how Volkswagen, Europe’s biggest carmaker, is striving to gain greater control over the supply of chips, found in ever greater number in new […]