WASHINGTON (Reuters) – Former Volkswagen chief executive Martin Winterkorn was charged in federal court in Detroit with conspiring to mislead regulators about the German automaker’s diesel emissions cheating. Former Volkswagen chief executive Martin Winterkorn leaves after testifying to a German parliamentary committee on the carmaker’s emissions scandal in Berlin, Germany, January 19, 2017. REUTERS/Hannibal Hanschke… Continue reading Ex-Volkswagen CEO Winterkorn charged in U.S. over diesel scandal
Category: Automotive
Ex-VW CEO Winterkorn Charged by U.S. in Diesel-Cheating Case
Volkswagen AG’s former Chief Executive Officer Martin Winterkorn was charged in a Michigan federal court with conspiracy and wire fraud in relation to a probe into the German automaker’s efforts to cheat U.S. diesel emissions testing, according to an indictment unsealed Thursday. Winterkorn, who stepped down from his role as CEO days after the scandal… Continue reading Ex-VW CEO Winterkorn Charged by U.S. in Diesel-Cheating Case
Tesla Plunges After a Bizarre Conference Call
Elon Musk told investors not to buy Tesla Inc. shares if they can’t stomach volatility. They got the message. The comments — part of a bizarre, heated conference call after the close Wednesday — sent the electric-car maker’s stock plunging. Tesla fell as much as 8.6 percent Thursday after the chief executive officer rejected analysts’… Continue reading Tesla Plunges After a Bizarre Conference Call
As Musk Berates Analysts, VW Unleashes Massive Counterpunch
A few hours after Elon Musk berated analysts for what he perceived as unimaginative questions, Volkswagen AG said it was writing a check for batteries that almost match Tesla Inc.’s entire market value. VW has awarded 40 billion euros ($48 billion) in contracts to battery producers, double from just a few weeks ago. The deals… Continue reading As Musk Berates Analysts, VW Unleashes Massive Counterpunch
Tesla’s Bonkers Earnings Call Was Actually Perfect
In hindsight, Elon Musk’s statement at the beginning of Tesla Inc.’s latest earnings call that “We’re going to go as long as there are good questions to answer” sounds less like encouragement and more like a warning. As you may have heard, the CEO decided the “good questions” from analysts ran out in about half an… Continue reading Tesla’s Bonkers Earnings Call Was Actually Perfect
Toyota Research Institute to Open New Driverless Car Test Bed in MI
The state of Michigan notched another mobility-industry win today when the Toyota Research Institute (TRI) announced that a 60-acre parcel in Ottawa Lakes, MI, will be the home of a new autonomous vehicle development and testing facility, the first dedicated exclusively to TRI’s use. TRI is Toyota’s research arm, which aims to enhance the safety of… Continue reading Toyota Research Institute to Open New Driverless Car Test Bed in MI
Diesel emissions scandal: Ex-VW boss Winterkorn charged in US
Former Volkswagen chief executive Martin Winterkorn has been charged by US prosecutors in Detroit over the diesel emissions scandal. He has been accused of conspiring to mislead regulators about the German car maker’s efforts to cheat the emissions tests of its diesel-fuelled vehicles. Volkswagen did not immediately comment. An indictment filed in secret in March… Continue reading Diesel emissions scandal: Ex-VW boss Winterkorn charged in US
UPDATE 1-Musk’s conduct, Tesla stock slide make $700 mln profit for short-sellers
NEW YORK (Reuters) – Short-sellers who had targeted Tesla Inc (TSLA.O) logged a $700 million paper profit on Thursday after the stock fell nearly 9 percent a day after Chief Executive Elon Musk stunned analysts by dodging “boring” questions about the electric car maker’s financial outlook. The windfall wiped out short-sellers’ 2018 losses on Tesla,… Continue reading UPDATE 1-Musk’s conduct, Tesla stock slide make $700 mln profit for short-sellers
Tata Motors to sell defence, aerospace business to Tata Advanced Systems
New Delhi: Home-grown auto major Tata Motors today said it will sell its defense business to group entity Tata Advanced Systems Ltd (TASL), subject to requisite approvals. The deal will not include the pure civilian vehicles which will continue to be with Tata Motors, the company said in a statement. The Board of Tata Motors… Continue reading Tata Motors to sell defence, aerospace business to Tata Advanced Systems
Elon Musk said Tesla’s Uber-like car service will probably arrive by the end of 2019 (TSLA)
Tesla CEO Elon Musk gave an update on the company’s planned autonomous mobility service, known as the Tesla Network, during its first-quarter earnings call on Wednesday. Musk said the service will “probably” be ready by the end of 2019. The service will allow Tesla owners to include their vehicles in a network that will resemble… Continue reading Elon Musk said Tesla’s Uber-like car service will probably arrive by the end of 2019 (TSLA)