Tag: VW

Shareholders formally approve actions of Board of Management and Supervisory Board and adopt resolution on increased dividend for 2018

At the Annual General Meeting 2019, the shareholders of Volkswagen Aktiengesellschaft voted by a majority of 99.98 percent to approve the recommendation of the Board of Management and the Supervisory Board to pay a dividend of 4.80 (3.90) EUR per ordinary share and 4.86 (3.96) EUR per preferred share for fiscal year 2018. Approximately 2.4… Continue reading Shareholders formally approve actions of Board of Management and Supervisory Board and adopt resolution on increased dividend for 2018

Volkswagen ID 3: pre-orders for electric hatch reach 15,000

Volkswagen sales boss Jürgen Stackmann said that the start of ID pre-booking ushered in “the third major chapter of strategic importance in the history of our brand, following the Beetle and the Golf”. He added: “With the ID 3, we are making the electric car fit for mass mobility.” Stackmann said that the ID 3 represented… Continue reading Volkswagen ID 3: pre-orders for electric hatch reach 15,000

Chinese EV start-up boss: new premium firms won’t survive

The boss of new Chinese EV firm WM Motor believes the challenge of establishing a brand means that premium start-up firms will struggle to survive – which is why his firm will focus on the mainstream market. Originally known as Weltmeister, WM Motor was founded in 2015 and last year launched the electric EX5 SUV… Continue reading Chinese EV start-up boss: new premium firms won’t survive

EV startup Rimac scores $90M investment from Hyundai and Kia

Rimac Automobili, the European EV startup that landed an investment from Porsche last year, has again gained the backing of traditional automakers after Hyundai Motor Company and Kia Motors jointly invested €80 million, or around $90 million. Beyond the significant cash infusion, the three parties said the deal includes “a strategic partnership to collaborate on… Continue reading EV startup Rimac scores $90M investment from Hyundai and Kia

Volkswagen wins worker backing for restructuring with $1.1 billion battery plan

BERLIN (Reuters) – Volkswagen workers backed a restructuring of the world’s largest carmaker on Tuesday after Chief Executive Herbert Diess pledged to spend 1 billion euros ($1.1 billion) on a new battery cell production plant near its headquarters in Lower Saxony. Volkswagen’s CEO Herbert Diess speaks ahead of Volkswagen Group’s annual general meeting in Berlin,… Continue reading Volkswagen wins worker backing for restructuring with $1.1 billion battery plan

Audi networks with traffic lights in Europe

Audi is introducing the vehicle-to-infrastructure (V2I) service “Traffic Light Information” to Europe. From July Audi will network new models with the traffic lights in Ingolstadt/Germany; further European cities will follow from 2020 onwards. Then cars will be more likely to catch a “green wave” in the city: Audi drivers will see in the cockpit what… Continue reading Audi networks with traffic lights in Europe

VW’s new electric car passes 10,000 orders in just 24 hours

Juergen Stackmann, member of the Board of Management, Volkswagen Passenger and Cars brand presents the pre-order scheme of the Volkswagen ID 3 electric car during a press conference in Berlin on May 8, 2019.ODD ANDERSEN | AFP | Getty ImagesVolkswagen has claimed that pre-orders for its ID.3 electric hatchback surpassed 10,000 cars in just 24 hours.
The auto giant revealed Wednesday that the entry-level car will cost less than 30,000 euros ($33,600), with deliveries in Europe slated for the middle of 2020.
VW's Golf-sized ID.3 will officially launch this September at the Frankfurt Motor Show. The car is named ID.3 because Volkswagen views the model as the third major evolution in the firm's history, after the Golf and Beetle.
The German automaker started to accept pre-orders for the ID.3 Wednesday, asking for a deposit of 1,000 euros.
VIDEO3:0403:04VW launches electric dune buggy concept at Geneva Motor ShowSquawk Box EuropeCustomers who pre-book can officially order their cars after the Frankfurt show. Orders become binding in April 2020, with those who change their mind able to get a full refund until then.
Volkswagen sales boss Jürgen Stackmann said on Twitter Thursday that more than 10,000 registrations were received throughout Europe within 24 hours of the launch.
That number falls well short of the launch of the Tesla Model 3 in April 2016. According to the company's chief executive Elon Musk, in just two days the Model 3 generated 276,000 pre-orders secured by deposits of $1000.
On Wednesday, VW's Stackmann told reporters that the electric car will allow for more internal space than a traditional internal combustion engine (ICE).
“From the outside, the ID.3 will be as large as a Golf. In the interior, it will be as spacious as a medium-sized car.”
VW plans to sell three versions of the ID.3 (45kWh, 58kWh, 77kWh) with varying ranges (200 miles, 261 miles and 342 miles).
The German firm said a full warranty on the ID.3's battery will cover eight years, just under 100,000 miles or the normal depreciation of the battery to 70% of its original maximum capacity.
WATCH: Concerns about EV infrastructure 'overplayed'
VIDEO2:3702:37Analyst: Concerns about EV infrastructure are 'overplayed'Squawk Box Asia