VW Dealer Heirโs Windfall Fuels โฌ3.5 Billion Investment Firm
One of the billionaire heirs to Belgiumโs DโIeteren auto empire is eyeing new investments, flush with cash after selling a stake in the Volkswagen distributor to his cousin.
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One of the billionaire heirs to Belgiumโs DโIeteren auto empire is eyeing new investments, flush with cash after selling a stake in the Volkswagen distributor to his cousin.
A Volkswagen Mexico strike could start on 22 October after workers at the Puebla plant, which sends half its cars to the US, rejected a pay deal. The post Volkswagen Mexico Strike Nears After Vote appeared first on The Rio Times.
Volkswagen AG is investing heavily in the US market, which Chief Executive Officer Oliver Blume says is "one big growth opportunity" for the company. The company plans to enter the US market for light trucks and offroad sport utility vehicles, with projects including a software venture with Rivian Automotive Inc. and the revival of heritage brand Scout. Volkswagen aims to field a midsize pickup and an offroad SUV to compete with established US franchises such as General Motors Co.'s Chevrolet Colorado and Ford Motor Co.'s Bronco. Bloomberg's Gabrielle Coppola breaks it all down on Bloomberg Intelligence (Source: Bloomberg)
Morocco's Kenitra battery hub is due to start its first cell line this month, as Volkswagen's PowerCo takes 49% of a planned US$537 million cathode plant. The post Morocco Kenitra Battery Hub Readies October Cell Line appeared first on The Rio Times.
The UK financing arm of Volkswagen AG has made a ยฃ725 million ($960 million) provision to cover the costs of a plan to compensate British customers who were overcharged for car loans.
Banks have kicked off a โฌ4.7 billion-equivalent ($5.3 billion) leveraged-loan deal for Bain Capital LPโs acquisition of a controlling stake in Volkswagen AGโs heavy diesel-engine unit.
Contemporary Amperex Technolยญogy Ltd (CATL) has cleared all regulatory hurdles for its mega factory in Hungary, a development that analysts expect will help the worldโs largest producer of electric vehicle (EV) batteries extend its reach to international marques like BMW and Volkswagen. Production of battery cells at the โฌ7.3 billion (US$8.35 billion) plant in Debrecen, the second-largest city in Hungary, began on Tuesday after it fulfilled all preconditions for a trial run, the company said. It...
So much bad news is priced into European auto stocks that some see Volkswagen AGโs profit warning as further evidence that things can only get better for the struggling sector.