Electrify America to double EV charging stations by 2025
Electrify America, an electric vehicle charging network funded with money paid by Volkswagen as punishment for its emissions cheating scandal, says it plans to more than double its number of charging stations throughout the United States and Canada.
Ford to go all electric in Europe by 2030
Ford says it will spend $1 billion to modernize its Cologne, Germany, manufacturing center, converting it into a European electric vehicle factory. (AP Photo/Martin Meissner)DETROIT โ Ford is vowing to convert its entire passenger vehicle lineup in Europe to electric power by 2030 in just the latest sign of the seismic technological changes sweeping the auto industry. Ford expects two-thirds of its European commercial vehicle sales will be electric or plug-in hybrids by 2030. โWe are going all in on electric vehicles,โ Rowley said. The investment is part of Ford's goal of spending at least $15 billion on electric vehicles from now through 2025.
Semiconductor shortage forces automobile production cuts
A widening global shortage of semiconductors for auto parts is forcing major auto companies to halt or slow vehicle production just as they were recovering from pandemic-related factory shutdowns. (AP Photo/David Zalubowski, File)DETROIT โ A widening global shortage of semiconductors for auto parts is forcing major auto companies to halt or slow vehicle production just as they were recovering from pandemic-related factory shutdowns. Toyota was forced to slow production of the full-size Tundra pickup at a factory in San Antonio, Texas. "This will minimize the impact of the current semiconductor shortage while ensuring we maintain production at our other North American plants,โ Fiat Chrysler said in a statement. The firm lists major players in the automotive chip market as STMicroelectronics, Infineon Technologies, NXP Semiconductor, Texas Instruments and Toshiba.
European Central Bank: Just wait until December
FRANKFURT โ The European Central Bank held off from strengthening its current economic stimulus but its President Christine Lagarde said there was โlittle doubtโ that more action would be coming at its December meeting as surging coronavirus infections and new restrictions on activity threaten Europeโs economy. โWe have little doubt... that the circumstances will warrant the recalibration and the implementation of this recalibrated package," Lagarde said. Analysts believe that is one reason the bank could take no action Thursday, since there already more stimulus still in the pipeline. Massive ECB stimulus and new spending by governments has helped ward off turmoil on financial markets and cushion the downturn. Airlines, hotels, restaurants and other businesses big and small have suffered a devastating drop in activity.
Former VW boss Winterkorn faces trial on 2nd set of charges
BERLIN โ A German court has ruled that former Volkswagen CEO Martin Winterkorn must face trial on a second set of charges in the company's diesel emissions scandal, this time accused of market manipulation. Thursday's announcement by the Braunschweig state court followed a decision earlier this month that he must stand trial on fraud charges. No date has been set for either set of proceedings. Winterkorn resigned from Volkswagen days after the U.S. Environmental Protection Agency announced a notice of violation on Sept. 18, 2015. The court said it sent the charges to trial unchanged.
Daimler AG to pay $1.5B to settle emissions cheating probes
WASHINGTON โ Automaker Daimler AG and subsidiary Mercedes-Benz USA have agreed to pay $1.5 billion to the U.S. government and California state regulators to resolve emissions cheating allegations, officials said Monday. The settlement, which includes civil penalties, will also require Daimler to fix the vehicles, officials said. Daimler AG said the settlement would bring costs of about $1.5 billion, while the civil settlement will bring a one-off charge of about $700 million. Fiat Chrysler also is being investigated for allegedly cheating on emissions. In April 2016, the Justice Department asked Daimler to conduct an internal probe into its exhaust emissions certification process.
Former VW boss Winterkorn must stand trial in diesel scandal
FRANKFURT A German court has ruled former Volkswagen CEO Martin Winterkorn must stand trial on fraud charges in connection with the company's diesel emission scandal in which it sold cars with software that let them cheat on emissions tests. It said four other defendants would face trial on charges of fraud in connection with aggravated tax evasion and illegal advertising. Winterkorn resigned from Volkswagen days after the U.S. Environmental Protection Agency announced a notice of violation on Sept. 18, 2015. The company had for years been using software that recognized when vehicles were on test stands and turned emission controls on, then turned the emission controls off during normal driving. Volkswagen paid more than 30 billion euros ($33 billion) in fines and settlements over the scandal.
China auto sales up 14.5% in May, recovering after pandemic
Chinas auto sales surged 14.5% in May, a second straight month of growth as the global industrys biggest market gradually recovers from the coronavirus pandemic, the China Association of Automobile Manufacturers said Thursday. (AP Photo/Mark Schiefelbein)HONG KONG Chinas auto sales surged 14.5% in May, a second straight month of growth as the global industrys biggest market gradually recovers from the coronavirus pandemic. Sales fell 9.6% last year, their second straight annual decline. The downturn is squeezing brands that are investing billions of dollars to develop electric vehicles under pressure to meet government sales targets. Demand for electric vehicles weakened last year after Beijing reduced subsidies that helped to make China their biggest market, accounting for half of global sales.
VW spending $2.2B to expand in China's electric car market
BEIJING Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in Chinas electric car industry in the biggest foreign investment announced since the country's economy began to reopen following the coronavirus pandemic. Volkswagen AG said Friday it will buy control of its electric vehicle venture with a Chinese partner in a 1 billion euro ($1.1 billion) deal. The ruling Communist Party scrapped limits on foreign ownership of electric vehicle makers in 2018 to promote industry development. By gaining management control, Volkswagen is paving the way for more electric models and infrastructure, the companys announcement said. GM, Nissan, BMW AG and other automakers also have joint ventures with Chinese partners to develop lower-cost electric models.
German court ruling clears the way to settle VW diesel cases
According to the ruling, Volkswagen is basically obliged to pay damages to car owners affected by the diesel scandal. Volkswagen said the decision announced Monday would clear the way for settlement of remaining consumer claims in Germany. The decision affects some 60,000 individual claims brought by car owners there; around 262,000 others have already been covered by an 830 million-euro ($904 million) class-action settlement. For the majority of the 60,000 pending cases, this ruling provides clarity, the company said in a statement. He had sought the full purchase price but the court ruled he must accept less due to depreciation related to the distance he drove.
Fiat Chrysler, Peugeot owner agree to merge in mega auto deal
The merger between Fiat Chrysler and PSA Groupe will create a company with $190 billion in revenue. AMSTERDAM - Fiat Chrysler and Peugeot owner PSA Group have announced the terms of a merger that would create a new trans-Atlantic automaking giant with roughly 410,000 employees and combined revenues of $190 billion. The combined company would be based in the Netherlands, which is the current headquarters of Fiat Chrysler. John Elkann, the current chairman of Fiat Chrysler, would perform the same role at the combined company, while PSA Group chief executive Carlos Tavares would be CEO. Fiat Chrysler and PSA sold a combined 8.7 million vehicles last year, just ahead of GM, which sold 8.3 million, and not far behind Volkswagen and Toyota, which each sold over 10 million.
Europe's switch to electric cars accelerates
The Japanese carmaker announced Wednesday that it will sell only electric and hybrid vehicles in Europe starting in 2022, three years earlier than previously planned. German carmaking king Volkswagen is spending 30 billion ($34 billion) over the next five years to make an electric or hybrid version of every vehicle in its lineup, and it plans to launch 70 new electric models by 2028. South Korea's largest car company, Hyundai, said last week that it planned to invest 41 trillion won ($35 billion) into electric cars and autonomous driving by 2025. Hyundai plans to release 23 kinds of electric vehicles by then, making up roughly half of its new lineup. By 2040, electric cars could make up 57% of all passenger car sales worldwide, according to an analysis by Bloomberg New Energy Finance.
Volkswagen pauses $1.4 billion Turkey investment over Syria invasion
WOLFSBURG, Germany - Volkswagen has paused a planned $1.4 billion investment in Turkey as a result of the country's military offensive in Syria. The 1.3 billion ($1.4 billion) plant was reportedly slated to produce the Volkswagen Passat and Skoda Superb. Volkswagen Group already has one factory in Turkey, which produces commercial vehicles for its MAN subsidiary. Turkey launched an invasion last week of territory in Northern Syria controlled by the Kurds, an ethnic minority long allied with the United States that played a major role in the fight against ISIS. Trump also said the United States would raise tariffs on Turkish steel exports to 50% and "immediately" stop trade negotiations with Ankara.
Hyundai investing $35B in autonomous driving and electric cars
Hyundai does not intend to be left behind in the high-stakes race to build mass-market electric and self-driving cars. (CNN) - Hyundai does not intend to be left behind in the high-stakes race to build mass-market electric and self-driving cars. The race to get fully autonomous cars on the roads is underway globally, and carmakers are under pressure to either get on board or risk getting left behind. Ford and Baidu have teamed up to develop self-driving cars in China. And Volkswagen started testing electric cars fitted with autonomous technology on a section of Hamburg's streets.
Volkswagen CEO, chairman charged in emissions scandal
(CNN) - Volkswagen CEO Herbert Diess and the company's chairman, Hans Dieter Ptsch, were charged by German prosecutors on Tuesday with market manipulation tied to the carmaker's diesel emissions scandal. The two executives are accused of failing to disclose the huge financial risks of the diesel scandal to shareholders in a timely fashion. Martin Winterkorn, the former CEO of Volkswagen, was also charged by prosecutors. It's the latest fallout from Volkswagen's bombshell admission in 2015 that it had rigged millions of diesel cars worldwide to cheat on emissions tests, a scandal that has cost the company more than $30 billion. The-CNN-Wire & 2019 Cable News Network, Inc., a Time Warner Company.
VW unveils its first electric car
WOLFSBURG, Germany - After unveiling a new brand identity and logo, Volkswagen revealed a new electric car to go along with it. The ID.3, a compact hatchback, is the first in a planned family of ID electric cars from the automaker. At its Volkswagen Group event in Frankfurt, Germany, VW executives spoke a lot about how the ID.3 needs to represent Volkswagen's return to its early days as a likable maker of fun cars like the Beetle. VW also promises it will be fun to drive, but we'll have to see about that later. The base car will start at under 30,000 euros.
Volkswagen's electric future quickly taking shape
Sean Gallup/2017 Getty ImagesWOLFSBURG, Germany - Volkswagen is picking up the pace in its bid to dominate the auto industry's electric future. The group plans to launch almost 70 new electric models in the next decade, and hopes to build 22 million electric cars over this period. Volkswagen is investing 900 million ($993 million) into the Northvolt joint venture. By 2021, the plant is expected to produce 330,000 vehicles per year, making it Europe's "largest and most efficient electric vehicle plant," according to Volkswagen. The ID.3 will be the first vehicle to be built on this new modular electric car production platform, or MEB.
New electric Volkswagen sells out before launch
But it is not alone among traditional carmakers in pouring money into electric cars, as expectations rise of future mass adoption, encouraged by falling battery costs and government subsidies. Elon Musk's Tesla has the headstart it sold more than 220,000 electric cars in 2018, according to LMC Automotive, roughly 70,000 more than its nearest competitor, Chinese state-owned BAIC Group. Volkswagen's earlier electric cars, the e-Up! It has a range of 261 miles (420 kilometers), higher than previous Volkswagen electric models. Future electric vehicles include the Audi E-Tron and Porsche Taycan.
Man who turned Volkswagen into powerhouse has died
(CNN) - Ferdinand Piech, who helped turn Volkswagen into the world's biggest carmaker before resigning ahead of one of the most tumultuous periods in the company's history, has died. Piech led the German automotive giant in various capacities for more than two decades. The grandson of legendary carmaker Ferdinand Porsche, Piech began his career at Audi and took over as CEO of Volkswagen in 1993. Piech stepped down as Volkswagen chairman in April 2015 after a failed attempt to oust CEO Martin Winterkorn, who had led the company for eight years. A holding company run by members of the Porsche and Piech families still controls about 53% of the Volkswagen Group.
UK bans VW, Philadelphia Cream Cheese ads over gender stereotypes
The ads for Volkswagen and Philadelphia cream cheese were investigated by the UK Advertising Standards Agency after viewers complained they perpetuated gender stereotypes. The ads, for Volkswagen and Philadelphia Cream Cheese, were investigated by the UK Advertising Standards Agency (ASA) after viewers complained they perpetuated gender stereotypes. New rules that came into force in June prohibit depictions of gender that "are likely to cause harm, or serious or widespread offense." It prompted three complaints from viewers, and the ASA found it showed a woman "engaged in a stereotypical care-giving role." A second commercial for Philadelphia Cream Cheese showed two dads looking after their children at a restaurant with a conveyer belt.
4 major automakers cutting emissions as US rolls back rules
The move will essentially put the four automakers on track to comply with tougher emissions rules even as the Trump administration works to roll back policies put in place under President Barack Obama. Regulatory pressures around the world, including in Europe and China, are pushing automakers to produce electric vehicles. Automakers anticipate consumers will start buying more electric vehicles in the future as prices drop. Automakers are spending billions to develop electric vehicles and more fuel-efficient gas vehicles, and many fear regulatory uncertainty will set back their efforts. The Obama rules would have required automakers to produce vehicles with an average fuel economy of 54.5 miles per gallon by 2025 model year vehicles.
27-year-old woman killed in Botetourt County crash
Copyright by WSLS - All rights reservedBOTETOURT COUNTY, Va. - A 27-year-old woman was killed Friday in a Botetourt County crash, according to Virginia State Police. Authorities say the crash happened around 2 a.m. Friday on I-81 near mile marker 150, two miles north of Rte. A 2005 Volkswagen was going south on I-81 when the car ran off the left side of the road and hit the guardrail. The driver, Ashley Brooks, of Buchanan, was not wearing her seat belt and died at the scene, according to State Police. Authorities say the crash remains under investigation.
Ford, Volkswagen team up on self-driving, electric cars
William Walker via CNNVolkswagen and Ford announced plans Friday to work closely to develop electric- and self-driving vehicles, the latest automakers to partner in the face of massive changes rocking the auto industry. With this latest investment, Volkswagen has agreed to join Ford in investing in Argo AI, the autonomous vehicle platform company now valued at $7 billion. Ford said it will become the first additional automaker to use Volkswagen's electric vehicle architecture to build electric vehicles for the European market starting in 2023. But they said at the time they were investigating how to develop the next generation of vehicles, such as electric and self-driving cars. The companies, two of the world's major automakers, are racing to develop electric- and self-driving cars on their own while at the same time penning deals with rivals to help defray the cost of high-tech R&D.
Ford, VW update plans for electric, self-driving cars
They also said they were investigating how to develop the next generation of vehicles, such as electric and self-driving cars. All of the world's major automakers are racing to develop electric and self-driving cars. Volkswagen has said previously that it will spend 44 billion ($50 billion) by 2023 on an "electric offensive" to develop electric cars, self-driving vehicles and other new technology. But much of the $11 billion restructuring is with an eye towards developing electric and self-driving cars. Volkswagen estimates that electric vehicles will make up 40% of its fleet by 2030.
Volkswagen's last Beetle to leave factory this week
After roughly seven decades of production and three generations of designs, Volkswagen is retiring its iconic Beetle. (CNN) - After roughly seven decades of production and three generations of designs, Volkswagen is retiring its iconic Beetle. Volkswagen created new Beetle generations in 1998 and 2012. "It's impossible to imagine where Volkswagen would be without the Beetle," Volkswagen of America president and CEO Scott Keogh said in a statement. The final Beetle to roll off the assembly line will be displayed at a Volkswagen museum in Puebla, the company said.