Category: Automotive

German court says investors can seek redress from Porsche SE in VW case

BERLIN (Reuters) – A German court ruled on Friday that investors pushing for damages over a sharp fall in Volkswagen (VOWG_p.DE) shares after the carmaker disclosed emissions cheating in 2015 can also seek redress from majority shareholder Porsche SE (PSHG_p.DE). FILE PHOTO: A Volkswagen logo is pictured during the Volkswagen Group’s annual general meeting in… Continue reading German court says investors can seek redress from Porsche SE in VW case

Audi CEO crisis threatens fragile truce among VW stakeholders

FRANKFURT (Reuters) – The arrest and detention of Audi’s (NSUG.DE) chief executive forces Volkswagen Group’s (VOWG_p.DE) competing stakeholders to renegotiate the delicate balance of power that has helped keep Rupert Stadler in office. FILE PHOTO: Audi CEO Rupert Stadler speaks during the company’s annual news conference in Ingolstadt, Germany March 15, 2018. REUTERS/Michael Dalder/File Photo… Continue reading Audi CEO crisis threatens fragile truce among VW stakeholders

Hyundai Motor Group and Audi Partner in Fuel Cell Technology

SEOUL, South Korea and INGOLSTADT, Germany, June 20, 2018 /PRNewswire/ — Hyundai Motor Group (the Group) and AUDI AG (Audi) announced they have entered into a multi-year patent cross-licensing agreement, covering a broad range of fuel cell electric vehicle (FCEV) components and technologies. Under the new partnership, the world’s fifth-largest auto-making group and the German premium… Continue reading Hyundai Motor Group and Audi Partner in Fuel Cell Technology

Fosun agrees to buy German production systems firm FFT

June 20, 2018 Chinese conglomerate Fosun International has agreed to acquire Germany-based automated and flexible production systems provider FFT GmbH & Co. KGaA (FFT) for a still undisclosed amount. In a statement, Fosun said it will acquire FFT from ATON GmbH, a German family-owned private investment firm, through the funds managed by Fosun, giving FFT… Continue reading Fosun agrees to buy German production systems firm FFT

Uber Is Testing Longer Waits for Lower Fares

Uber is now beta testing a feature that allows users to wait longer for their ride in exchange for a lower charge. If successful, it could allow the company to have more control over the demand for their product. One Uber employee discovered this new feature when ordering a ride and tweeted about it, as… Continue reading Uber Is Testing Longer Waits for Lower Fares