Category: German Press

German FAZ: The dispute over the austerity package for VW is escalating008263

The fight over VW’s billion-dollar savings plans is entering the next round. The “future concept” that the employee representatives presented eight days ago is rejected by Volkswagen. “Even after intensive analysis,” a sustainable saving of 1.5 billion euros could not be determined, according to a brief statement from the company on Friday afternoon. At best… Continue reading German FAZ: The dispute over the austerity package for VW is escalating008263

German Manager Magazine: Mercedes relies on start-up Momenta003782 for autonomous driving in China

According to insiders, the car manufacturer Mercedes-Benz is working on autonomous driving China with the start-up Momenta. The Stuttgart-based company invested $75 million in the company, three people familiar with the process told the Reuters news agency on Friday. Mercedes could also be an anchor investor in a Momenta IPO in the first quarter of… Continue reading German Manager Magazine: Mercedes relies on start-up Momenta003782 for autonomous driving in China

German Manager Magazine: Mahle: Automotive supplier is downsizing its management003782

The automotive supplier Mahle is restructuring. The Stuttgart-based company is reorganizing its business areas and reducing its management from seven to four members. Mahle announced this on Friday. Arnd Franz remains CEO, Jumana Al-Sibai, Markus Kapaun and Georg Dietz also remain part of the management. In the future, Al-Sibai will lead the “Thermal and Fluid… Continue reading German Manager Magazine: Mahle: Automotive supplier is downsizing its management003782

German Manager Magazine: Volkswagen crisis: IG Metall disappointed by VW003784’s rejection of the future concept

Volkswagen has the latest proposals from IG Metall and works council to reduce costs rejected as insufficient. “Even after intensive analysis, a sustainable saving of 1.5 billion euros cannot be determined,” said Europe’s largest car manufacturer after testing the concept. “Although there can be positive effects in the short term, the measures mentioned will generally… Continue reading German Manager Magazine: Volkswagen crisis: IG Metall disappointed by VW003784’s rejection of the future concept

German Manager Magazine: Formula 1: Qatar invests in Audi’s Formula 1 team with sovereign wealth fund Qatar Investment Authority003783

The sovereign wealth fund of the Emirate of Qatar is increasing Audi Formula 1 team a. The Qatar Investment Authority (QIA) has made a binding commitment to take over a significant minority stake, it said Volkswagen-Daughter on Friday. The car manufacturer did not provide any information about the extent of the investment. According to an… Continue reading German Manager Magazine: Formula 1: Qatar invests in Audi’s Formula 1 team with sovereign wealth fund Qatar Investment Authority003783

German Manager Magazine: Volkswagen: Car manufacturer faces billions in fine in India – accusation of tax evasion003782

Volkswagen threatens, according to a document India a billion-dollar fine for tax evasion. The company has underpaid a total of almost $1.4 billion in import duties since 2012, according to a 95-page document from the Indian customs authorities dated September 30, which was seen by Reuters. VW knowingly violated customs regulations by sending the parts… Continue reading German Manager Magazine: Volkswagen: Car manufacturer faces billions in fine in India – accusation of tax evasion003782