The Terrafugia Transition is pictured at at the New York auto show in April 2012. Photo credit: BLOOMBERG Terrafugia, a U.S. flying-car developer owned by Chinese automaker Zhejiang Geely Holding Group, has begun taking orders for its first product. Deliveries of the Transition, a two-seat aircraft that can switch between driving and flying modes in… Continue reading Geely-backed flying-car developer Terrafugia starts taking orders
Tag: VW
German carmakers have 50:50 chance of facing Detroit’s fate, VW says
FRANKFURT (Reuters) – German carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform their businesses to meet new regulations and adapt supply chains, Volkswagen’s (VOWG_p.DE) chief executive said on Tuesday. FILE PHOTO: Mechanic staff work on the production line of Volkswagen e-Golf in the Glaeserne… Continue reading German carmakers have 50:50 chance of facing Detroit’s fate, VW says
Volvo warns some vehicle engines may exceed emission limits
STOCKHOLM (Reuters) – Sweden’s Volvo (VOLVb.ST) said on Tuesday an emissions control component used in its vehicles was degrading more quickly than expected, which could cause engines to exceed emission limits for nitrogen oxides, sending its stock down sharply. The logo of Volvo is seen on the front grill of a Volvo truck in a… Continue reading Volvo warns some vehicle engines may exceed emission limits
VW CEO says German carmakers have only 50 percent chance of staying ahead
FRANKFURT (Reuters) – Germany’s carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform to meet new regulations and adapt their supply chains, Volkswagen (VOWG_p.DE) Chief Executive Herbert Diess said on Tuesday. FILE PHOTO: Herbert Diess, Volkswagen’s new CEO, speaks during the Volkswagen Group’s annual general… Continue reading VW CEO says German carmakers have only 50 percent chance of staying ahead
Porsche IPO Could Value Carmaker as High as $81 Billion, CFO Says
Porsche IPO Could Value Carmaker as High as $81 Billion, CFO Says BloombergPorsche CFO floated idea of IPO, could be valued at $81B, automaker says no way Motor AuthorityPorsche CFO Thinks Potential Super-Premium-Group Could Be Worth A Fortune CarscoopsFull coverage Go to Source
Electrify America announces second $200-million EV infrastructure investment plan for California
Electrify America has a $2-billion pot of money from naughty Volkswagen to invest in EV infrastructure, education and access programs. $800 of that is to be spent in California. In order to future-proof the program, EA is wisely dividing its investment into four phases. Now the company has announced its second $200-million round of investment… Continue reading Electrify America announces second $200-million EV infrastructure investment plan for California
European environment ministers agree 35 percent car emission cut by 2030
Patrick T. Fallon | Bloomberg | Getty Images
Hoses connect laboratory emission testing equipment to a red 2016 Volkswagen AG Golf TDI inside the California Air Resources Board Haagen-Smit Laboratory in El Monte, California.
European Union lawmakers have hammered out a deal to cut vehicle emissions by 35 percent by 2030, offering a further boon to the development of electric and hybrid cars.
Germany, which had insisted on a maximum 30 percent cut, relented after winning a concession to carry out an interim review of the rules. Germany's stance had been backed by other car producing nations including Bulgaria, the Czech Republic, Hungary, Poland and Slovakia.
The group of environment ministers said the 35 percent reduction of carbon dioxide gas emitted must be from recorded levels in 2020. It also should include an intermediate target of a 15 percent reduction by 2025.
Last week, the European parliament voted for a more ambitious 40 percent reduction by 2030.
Ministers from the 28 nations will meet Wednesday onward with representatives from the European Parliament to work towards translating the recommendation into law.
One global forecast on energy has predicted that almost all new sales of cars across Europe to be electric or hybrid within 20 years. The report, titled the Energy Transition Outlook, says for the United States, a similar situation will be in place by the 2040s.
Automakers in Europe have been less effusive about a rapid transition away from traditional combustion engines. In September, the European Automobile Manufacturers' Association (ACEA) said fewer workers will be required to build or repair all-electric vehicles.
“Overly stringent CO2 targets, as well as unrealistic sales quotas for battery electric vehicles, could lead to serious structural problems across the EU,” ACEA said.
Porsche denies speculation that it’s planning to go public
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Porsche 918 Spyder
The German luxury carmaker Porsche has denied speculation that it's planning to pursue an initial public offering (IPO).
On Friday, the company's chief financial officer suggested to reporters gathered at the firm's development center that such a listing could easily top the success of Ferrari's foray into public ownership. The Italian supercar maker has an estimated value of around $22 billion.
In comments not denied by Porsche to CNBC, Lutz Meschke said a listed car company led by Porsche and including Bentley, Bugatti and Lamborghini could merit a valuation worth more than three times that of Ferrari. Bentley, Bugatti and Lamborghini form part of the Volkswagen Group, alongside Porsche.
“A valuation of 60 billion to 70 billion euros certainly doesn't sound like a stretch,” he was reported as saying, before adding that analysts would value such a firm on the same metrics as a luxury stock.
Meschke is further quoted as saying: “Every company needs to think about whether it makes sense to create competitive divisions.”
In an emailed response to CNBC on Monday, Porsche flatly denied any suggestion it was moving toward public ownership.
“Porsche does not currently have any plans to pursue a (partial) initial public offering (IPO). The Stuttgart-based sports car manufacturer denies all reports to the contrary that claim an IPO is in progress,” it said.
Porsche also said Meschke's comments simply reflected on how the Ferrari listing was “a positive example of how an IPO can be a beneficial move during the automotive sector's current period of transformation.”
The German car maker further highlighted that during his presentation Meschke had said he had no authority on any Porsche IPO, with that decision ultimately resting with executives at the company's parent owner, Volkswagen.
What is an IPO?
8:24 AM ET Thu, 3 May 2018 | 03:58
Audi optimizes quality inspections in the press shop with artificial intelligence
As one of the first automobile manufacturers worldwide, Audi plans to apply machine learning (ML) in series production. The software Audi has developed recognizes and marks the finest cracks in sheet metal parts – automatically, reliably and in a matter of seconds. With this project, Audi is promoting artificial intelligence at the company and revolutionizing… Continue reading Audi optimizes quality inspections in the press shop with artificial intelligence
Maximum light for maximum safety: Volkswagen relies on ultra-modern LED headlights
New, interactive LED headlights make driving safer and more comfortable in the dark months of the year Volkswagen now offers powerful LED headlight systems in almost all segments Wet conditions, fog, deer crossing – drivers face particular challenges in autumn and winter. The latest lighting systems which almost perfectly illuminate the road are proving helpful.… Continue reading Maximum light for maximum safety: Volkswagen relies on ultra-modern LED headlights