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Greg Migliore, editor-in-chief of Autoblog, believes it'd be a 'brilliant move' for Volkswagen to really look at buying Tesla and it will give it a 'critical edge'.
HyperChange founder and CEO, Galileo Russell explains to Yahoo Finance why he thinks Tesla is should not sell itself to another company.
Volkswagen said on Thursday it was not interested in taking a stake in Tesla, denying a media report that CEO Herbert Diess wanted to buy shares in the U.S. company to access its software and batteries technology. "The speculation about buying a stake in Tesla made by Manager Magazin is without merit," a Volkswagen spokesman said in a written statement to Reuters. Manager Magazin had said Diess meets with Tesla CEO Elon Musk on a regular basis because of the U.S. carmaker's expertise in software and battery cell design, and that Tesla had so far rebuffed Volkswagen's efforts at striking an alliance.
, NEW YORK (Reuters) - Ford Motor Co and Volkswagen AG said they will spend billions of dollars to jointly develop electric and self-driving vehicles, deepening a global alliance to slash development and manufacturing costs while positioning VW as the initial winner. Ford and VW executives said the latest collaborations could save hundreds of millions of dollars for each company. VW has agreed to plow $3.1 billion into Ford's Argo AI self-driving unit, but estimates it could realize up to $20 billion in revenue by sharing its MEB electric vehicle architecture with Ford in Europe.
Shares of Ford Motor Co. rallied 1.4% in premarket trading Friday, after Germany-based automaker Volkswagen AG confirmed that it will invest $2.6 billion in Ford's self-driving services (SDS) partner Argo AI, as part of an expansion of the company's alliance to include electric vehicles. As part of the deal, Volkswagen will commit $1 billion in funding and contribute its $1.6 billion Autonomous Intelligent Driving (AID) company. Volkswagen will also buy $500 million worth of Argo AI shares from Ford over three years. That will give Ford and Volkswagen an equal stake in Argo AI, and will give the companies, combined, a substantial majority ownership in Argo AI, which is valued at more than $7 billion. "While Ford and Volkswagen remain independent and fiercely competitive in the marketplace, teaming up and working with Argo AI on this important technology allows us to deliver unmatched capability, scale and geographic reach," said Ford Chief Executive Jim Hackett. Ford's stock has run up 33% year to date through Thursday, while Volkswagen's U.S.-listed shares have gained 9% and the S&P 500 has climbed 20%.
Carmaker Volkswagen will inject $1 billion in capital and $1.6 billion worth of assets into Ford's self-driving unit, a source close to the matter said on Friday, as the two carmakers deepen a global alliance to share costs. VW and Ford said they were in "exploratory talks" about an alliance to develop self-driving and electric vehicles and to complement each other's global production and sales footprints. Volkswagen also plans to build a multi-brand production plant in Turkey, German trade magazine Automobilwoche said on Friday.
The European Commission believes BMW, Daimler and Volkswagen worked together to delay clean emissions technology. Last fall, the EU Commission launched a formal investigation to determine if the automakers breached EU antitrust rules by restricting competition on the development of emissions-reducing technology. Now, in a Statement of Objections , the Commission has informed BMW, Daimler and VW of its "preliminary view" that they did in fact violate antitrust rules -- meaning they also led to higher emissions and denied consumers the opportunity to buy less polluting cars.
The US Securities and Exchange Commission (SEC) announced that it is charging Volkswagen and its former CEO Martin Winterkorn for defrauding US investors during the company's "Dieselgate" scandal. The agency accused the company and its top executive of issuing more than $13 billion in bonds and securities in the US despite knowing that more than half a million vehicles in the market failed to meet emissions standards.
Volkswagen and its former chief executive Martin Winterkorn have been charged by the US with defrauding investors during the diesel emissions scandal uncovered four years ago. The Securities and Exchange Commission (SEC) alleged the German carmarker issued $13bn in bonds and securities in US markets – despite knowing that more than half a million of their vehicles were well over legal limits for emissions. The company is also accused of making false and misleading statements about vehicle quality, environmental compliance and its financial status.
Does it make sense? No it doesn't. Do we love it? Yes we do. The ID Beach Buggy concept is the kind of car you wanted as a kid and by the time you grew up, they didn't make them anymore. Sure you can hunt one down and spend years restoring it, but sadly life has a way of ruining those plans. But you can live vicariously through this EV concept that would take you to the beach without spewing pollutants into the sky.
FRANKFURT, Germany (AP) — Carmakers are hoping to give consumers a glimpse of the future at this year's Geneva auto show as they roll out new electric cars and try to re-energize an industry facing serious challenges on several fronts.
Germany's Federal Motor Transport Authority (KBA) is considering recalling more Volkswagen cars due to its emissions scandal, the Bild am Sonntag newspaper reported on Sunday. The KBA has opened an investigation into whether a software update for 1.2-litre engine cars, including the popular Polo, enabled them to cheat emissions tests, the newspaper said, without naming its sources. The Bild am Sonntag said prosecutors were preparing charges against unnamed Volkswagen managers for suspected fraud, noting that the company had given assurances in 2016 that the 1.2 litre engines did not use illegal emissions cheating defeat devices.
Germany's Federal Motor Transport Authority (KBA) is considering recalling more Volkswagen (VOWG_p.DE) cars due to its emissions, scandal, the Bild am Sonntag newspaper reported on Sunday. The KBA has opened an investigation into whether a software update for 1.2-litre engine cars, including the popular Polo, enabled them to cheat emissions tests, the newspaper said, without naming its sources. The Bild am Sonntag said prosecutors were preparing charges against unnamed Volkswagen managers for suspected fraud, noting that the company had given assurances in 2016 that the 1.2 liter engines did not use illegal emissions cheating defeat devices.