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Tag: Volkswagen

  • Brussels Urges Volkswagen To Compensate All EU Dieselgate

    Brussels Urges Volkswagen To Compensate All EU Dieselgate

    Brussels on Tuesday called on Volkswagen to pay out all European consumers – and not just German ones – affected by the “Dieselgate” scandal in which the automaker tampered with vehicle emissions to cheat pollution tests.

    EU Justice Commissioner Didier Reynders said in a statement that VW “is not willing to work with consumer organisations to find appropriate solutions for consumers,” noting that it so far is only making payouts to German and US purchasers of its affected vehicles.

    “All consumers need to be compensated,” Reynders said.

  • Volkswagen India Rolls Out New Brand Design And Logo Across Dealerships Ahead Of Taigun Launch

    Volkswagen India Rolls Out New Brand Design And Logo Across Dealerships Ahead Of Taigun Launch

    Volkswagen recently rolled out its new brand design and logo across the company’s 150 dealerships across the country. The new brand logo was first unveiled at the 2019 Frankfurt Motor Show and it was showcased in India for the first time at the 2020 Auto Expo. The company is using a phase-wise approach for implementing the new brand design and logo. The first phase will have 30 touchpoints get the same, while the remaining outlets will get the flat two-dimensional logo in the coming weeks.

    Commenting on the announcement, Ashish Gupta, Brand Director, Volkswagen Passenger Cars India said, “The implementation of new brand design across our dealerships marks a new era for Volkswagen in India. By implementing the new brand design and logo, we aim to create a 360-degree customer experience, that is intriguing and contemporary across all channels and appeals to our customers.”

    Through the implementation of the new brand design, Volkswagen aims to make its dealerships more human, attractive and emotional, the company said in a statement. The brand will also provide behavioral training to its entire staff including the salesmen and service advisors to make them more customer-oriented. The automaker also introduced ‘Sarvottam 2.0’ to amp up its digital efforts and offer a more transparent purchase and ownership experience to customers

    The rollout comes right in time as Volkswagen India gears up to introduce the new Taigun compact SUV. The brand new offering that has been specifically designed for India is the first model from the automaker under the India 2.0 strategy. It follows in the footsteps of the Skoda Kushaq that’s based on the same MQB A0-IN platform and will be sold only with petrol engine options. We will be driving the Volkswagen Taigun very soon. So make sure to keep watching this space for all the action.

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  • Volkswagen Polo GTI Facelift Unveiled

    Volkswagen Polo GTI Facelift Unveiled

    Now before getting into the details of the new Volkswagen GTI facelift, let us tell you how these official pictures of the 2021 model year surfaced online. So we actually don’t know whether it is one of Volkswagen’s marketing strategies, or Ralf Brandstatter – CEO, Volkswagen Passenger Cars got so excited by looking at these official pictures of this new hot hatch, that he couldn’t help sharing them on his linked in profile. Yes! This is how the range-topping 2021 Volkswagen Polo GTI was unveiled, almost two years after the global debut of the line-up.

    In terms of design, the new GTI gives you exactly what you expect of a facelift as the changes remain subtle and it’s a predictable evolution if you will. It gets fully redesigned headlights along with the slim DRLs extending to the new grille, just like the Golf GTI. Then, there are wider taillights and the overall design has been spruced up with the usual red accents, dual exhaust tips, and a honeycomb grille. It also sports chunkier two-tone alloy wheels with upgraded brakes featuring red calipers and other sporty elements include contrasting black mirrors and roof.

    On the inside, it gets VW’s Discover Pro and Discover Media systems as optional, and the car also receives Volkswagen’s new ‘digital cockpit’ dashboard setup, as used by the Golf and ID 3. Other elements include a 9.0-inch touchscreen unit, panoramic sunroof, voice control, wireless charging, Beats sound system, and 18-inch alloy wheels. In the safety department, the new Polo gets Volkswagen’s Travel Assist system for the first time, which includes adaptive cruise control, lane assist, side assist and rear traffic alert. Autonomous emergency braking is also standard, as is a driver alert system and automatic post-collision braking.

    The new Polo GTI also comes with three driving modes – Eco, Normal and Sport with the last one tuned for enhanced exhaust note. The Polo GTI also gets a bespoke, performance-oriented chassis tune, lowering the body by 15 mm compared with the standard Polo and adding a large stabilizer on the car’s front axle, rigid coupling rods at the front and stiffer axle-locating mounts at the rear. Now Brandstatter is promising a powerful TSI engine under its hood, but mechanical details are not confirmed yet. We expect it to feature the same 2.0-litre, four-cylinder Turbo TSI motor tuned for optimum performance and it should come with the options of both six-speed manual and DSG transmission. Talking about the India context, the new Volkswagen Polo GTI is based on the sixth-generation Polo and both models are not likely to join VW India’s line-up anytime soon.

  • Volkswagen, Ford To Exit Auto Finance Business In India

    Volkswagen, Ford To Exit Auto Finance Business In India

    The auto financing arms of Volkswagen AG and Ford Motor Co plan to stop giving new credit to car buyers and dealers in India and will exit from the country, sources aware of the development told Reuters. Volkswagen Finance Private Ltd, the German carmaker’s finance arm, stopped giving loans to car buyers in India last year and in May told dealers of all VW brands, which includes Volkswagen, Skoda and Audi, to find another financing, two sources with direct knowledge of the talks said.

    As some customers failed to make repayments, the finance unit has suffered losses, and will close for business by Dec. 31, the sources said.

    More than 50% of Volkswagen group dealers use credit from the finance arm, they said.

    Volkswagen Finance Private Ltd said in a statement that it had acquired a major stake in Indian loan brokerage portal KUWY Technologies to service its retail customers.

    It is in talks with dealers and will review its business strategy by the end of the year, the company said.

    The auto finance arms are classified as non-banking financial companies (NBFCs) and they compete with banks for providing credit. But banks have access to cheaper funding so can offer loans at lower rates than those offered by NBFCs or shadow lenders.

    To offset the disadvantage, Volkswagen and Ford would offer incentives to those dealers who have used their credit finance, the sources said.

    Dealers typically need credit to buy cars from automakers which they then sell on to customers.

    Volkswagen’s plan to exit the financing business has surprised dealers, coming weeks ahead of the launch of Skoda’s new sport-utility vehicle (SUV) to boost sales in India, the two sources said.

    Skoda dealers have been asked to find new financing by the end of the month – a tight deadline ahead of a new model launch, one source said.

    Ford Credit, the automaker’s financing arm, stopped lending to car buyers at the end of last year and will cease credit to dealers by June 30, two separate sources said.

    The decision to exit the financing business comes at a time when Ford is finalizing a new strategy for India after ending ties with Mahindra & Mahindra on Dec. 31.

    A Ford Motor India spokesperson said the company regularly assesses market conditions for its credit business and the decision to discontinue was conveyed to dealers in October – before it made any announcement on the Mahindra partnership.

    “We are confident the auto financing sector in India can support Ford customer and dealer new financing needs. Our team continues to service our existing book of business,” the spokesperson said, adding that 25%-30% of its dealers do business with Ford Credit.

  • Volkswagen Multivan Revealed For European Markets

    Volkswagen Multivan Revealed For European Markets

    Volkswagen Commercial Vehicles has revealed the all-new Multivan, which is a replacement to the Caravelle and will be targeted for the European markets. The Multivan is no longer built on the Transporter platform (on which the Caravelle was based) but is now based on the Volkswagen Group’s MQB platform, which just goes to show you the flexibility of this platform, which spawns everything from a Polo to now the Multivan.

    The Multivan has an all-new exterior design that pays homage to the DNA of its predecessors, dating back to the 1985 Transporter T3, with a horizontal design line and full-width grille and headlights, to give it a modern and dynamic look. The A-pillars have been remodeled to improve visibility, while unique front and rear light signatures give it a fresh look. The front air intakes, painted in the same color as the vehicle, have been reduced, paying tribute to the heritage of the rear air-cooled engines of the first three generations.

    The Multivan measures 1,941mm wide, 4,973mm long, up to 1,903mm high, and with a wheelbase of 3,124mm. A longer version, measuring 5,173mm is also available. Overall, it means the new generation has a longer wheelbase and wider, lower profile, all designed to improve aerodynamics, lower fuel consumption and increase range. The model is available with wheels up to 19 inches, and in three specifications: “Multivan”, “Life”, and “Style”.

    Optional is a panoramic glass roof, with LowE laminated safety glass to reduce incoming thermal radiation by 44 percent, as well as an electrically operated rear hatch and power sliding doors, which can be operated via gesture control for ease of entry.

    The Multivan is fitted with LED headlights as standard but can be upgraded to interactive IQ.LIGHT – LED matrix headlights, which offer a permanent full beam, without blinding oncoming drivers and dynamic cornering to provide precise illumination during bends. The IQ.LIGHT system also features an illuminated LED lateral bar in the radiator grille as a further element of the daytime running lights.

    Inside, the new Multivan is more flexible and spacious than ever, with a new modular, lightweight seating system and an innovative table. With space for up to seven seats, the rear five seats, which are up to 25 percent lighter, can be moved and removed to suit, while the second row can be moved 180-degrees to create a conference-style seating configuration. The full-width bench seat for the third row has been replaced by individual seats to allow single seats to be removed for complete flexibility.

    An innovative multi-function table has been designed for the new Multivan. Using the central track, it can be moved between any of the seating rows, and for the first time can be used as a centre console between the front seats. The table, which is completely removable, features adjustable height, three cup holders, and a storage bin.

    Enabling the flexible seating and table track system is the completely flat floor from front to rear seats with no center console, made possible by the removal of the traditional handbrake. Instead, the parking brake is activated electronically by button, or automatically. The new Multivan is offered only with an automatic DSG gearbox controlled via shift-by-wire technology, meaning the gearstick has been removed to further increase occupant space, with controls ergonomically integrated into the instrument panel.

    In base version the Multivan offers 469 liters of luggage space behind the third row of seats, extending to 1,844 liters (1,850 litres with panoramic glass roof) behind the second row. The full cargo capacity up to the front seats is 3,672, extending to a maximum 4,053 liters in the longer version fitted with the panoramic glass roof.

    The cockpit area has been completely redesigned alongside a new multi-function steering wheel. All key features in the new Multivan are now on one line of sight, with a secondary line for other functions to make operation as intuitive as possible. Touch controls provide direct access to settings such as air-conditioning, seat heating, and audio volume.

    On the central console are the 10.25-inch ‘Digital Cockpit’ display and the 10.0-inch infotainment touchscreen. Centrally arranged between the two on a high-gloss black surface are the new, minimalist shift-by-wire DSG controls. Integrated next to this are two USB-C sockets as standard and a tray for optional inductive smartphone charging. For the first time on a Volkswagen Commercial Vehicles model, a head-up display is available.

    The standard infotainment system is called ‘Ready 2 Discover’, which includes an integrated eSIM to deliver online safety and convenience features. We Connect can be used free of charge for an unlimited period, with services such as breakdown assistance, vehicle status, and parked position.

    We Connect Plus, available free for three years, provides extra services such as the ability to lock and unlock the vehicle or control the optional auxiliary heater remotely via smartphone. In combination with the more advanced, optional Discover Media and Discover Pro navigation systems, We Connect Plus includes further navigation-related services, such as online map updating and traffic information. We Connect Plus also provides additional services for the eHybrid, such as allowing owners to pre-set the vehicle inside temperature and to manage the charging process via smartphone.

    All infotainment systems can be combined with a Harmon Kardon sound system developed specifically for the Multivan. In addition to 14 high-end loudspeakers behind precision laser-cut panels, a 16-channel Ethernet amplifier with 840 watts of music output, and four sound settings, the system uses the ‘Fraunhofer Sonamic Panorama Algorithm’, which is able to separate out the individual sources of a stereo recording and distribute them evenly across a U-shaped acoustic stage, to create the optimum sound.

    The Multivan features more than 34 drivers assist systems enhancing safety, comfort, and convenience. Standard is the Front Assist area monitoring system, which includes City Emergency Braking, Dynamic Road Sign Display, and the Lane Assist system.

    Other new systems include Car2X – allowing local communication with other vehicles and the highways infrastructure in order to provide warnings of any danger, side protection, crosswind assist, turn-off assist, which warns of any oncoming traffic when turning across a carriageway, and an exit warning system, which warns when opening a door of any bicycles or vehicles approaching from behind.

    The Multivan also debuts IQ.DRIVE Travel Assist, which allows semi-autonomous driving by combining the predictive Adaptive Cruise Control and Lane Assist to make long-distance journeys safer and easier.

    Also available on the new Multivan is Area View, a real 360-degree representation of the vehicle using four cameras, visible on the 10-inch infotainment display, to making parking and maneuvering as safe and easy as possible.

    Based on the Volkswagen Group’s MQB platform, the new Multivan, which has a towing capacity of up to 2,000kg, is available with three powertrains, including for the first time in a Volkswagen Commercial Vehicles model, a plug-in hybrid (PHEV) option.

    The new Multivan eHybrid combines a 1.4 TSI 147 bhp engine with an 85kW electric motor to produce a combined power output of 215 bhp, providing silent, zero-emission driving when in electric-only mode for short, urban trips while giving customers the flexibility to enjoy longer journeys. The eHybrid uses a bespoke six-speed DSG gearbox.

    The 13kWh lithium-ion battery is housed under the Multivan’s flat floor, saving interior space and lowering the vehicle’s centre of gravity to improve handling. The charging point is located on the right-hand side of the front wing.

    The front-wheel-drive Multivan is also available with two four-cylinder turbocharged petrol engines: a 1.5 TSI and a 2.0 TSI. A four-cylinder turbo diesel will be introduced next year. Be rest assured though that the Multivan will not come to India.

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  • Volkswagen Expects Chip Supply To Remain Tight In Coming Months

    Volkswagen Expects Chip Supply To Remain Tight In Coming Months

    Volkswagen expects semiconductor supplies to the car sector to remain tight in coming months, the head of the carmaker’s namesake brand was quoted as saying on Saturday.

    “I think the situation will remain tense,” Ralf Brandstaetter, CEO of the Volkswagen brand and member of the carmaker’s management board, told German news agency dpa.

    He said a fire at a factory operated by automotive chip maker Renesas Electronics Corp, as well as snowstorms in Texas that have hurt factory production, had effectively idled output.

    “The impact will certainly be felt in the coming months,” Brandstaetter said, adding Volkswagen’s procurement task force was busy around the clock dealing with the issue which remained at the top of the agenda of Volkswagen’s management board.

    Volkswagen AG has been unable to build 100,000 cars due to the shortage, CEO Herbert Diess said in March, adding the group would not be able to make up for the shortfall in 2021.

    Brandstaetter said the situation was expected to ease somewhat in the second half of the year.

    Wayne Griffiths, president of Volkswagen’s Spanish brand SEAT, said last month the challenges caused by the shortage were likely to intensify in the second quarter.

  • Volkswagen’s CEO To Step Aside At Skoda

    Volkswagen’s CEO To Step Aside At Skoda

    Volkswagen boss Herbert Diess is stepping down as head of the supervisory boards at subsidiaries Seat and Skoda to focus on building up a stronger software-development team, a person familiar with the matter said on Thursday.

    Volkswagen declined to comment.

    Handelsblatt had reported the news earlier.

    At Seat, Diess would be succeeded by current technology head Thomas Schmall and at Skoda by Murat Aksel, head of procurement on the Volkswagen board, the source added.

    Volkswagen has been heavily focused on regaining lost ground in the fast-growing field of software-heavy electric cars, where United States and Chinese manufacturers are seen as having a lead.

  • Volkswagen Begins Construction Of New Electric Plant In China

    Volkswagen Begins Construction Of New Electric Plant In China

    Volkswagen Group China has begun construction of an all-new MEB plant at Volkswagen Anhui recently. As the third of the Group’s pure-electric vehicle manufacturing facilities in China, following completion of the Anting (SAIC VW) and Foshan (FAW-VW) plants, the Volkswagen Anhui plant will be powered by green energy from day one. Due for completion mid-2022, the plant is set for the start of production in the second half of 2023.

    By 2025, Volkswagen Group China plans to deliver up to 1.5 million new energy vehicles (NEVs) per year. Dr. Stephan Wollenstein, CEO of Volkswagen Group China, said, “As China is the world’s largest single market for NEV vehicles, we need to strengthen our local competence, and Volkswagen Anhui is a significant part of it. With the plant to be powered by green energy from day one, we are demonstrating our commitment to reducing carbon emissions beyond our fleet.”

    The new body shop will cover roughly 141,000 square meters and makes up part of the total project area, together covering around 500,000m2. The new plant will incorporate a number of energy-saving strategies as part of comprehensive efforts to reduce overall carbon emissions, including the adoption of low energy consumption production equipment. A supplier park for batteries and components is also planned for construction in the area.

    Volkswagen Anhui will have a staff of around 500 on board by 2025, with a focus on R&D and engineering innovations. Combining R&D, quality assurance, pre-sales manufacturing, and testing under one roof, Volkswagen Anhui will provide the Group with a faster time-to-market for new e-mobility products.

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  • Volkswagen Mulls Board Change That Could See Labour Chief Move On

    Volkswagen Mulls Board Change That Could See Labour Chief Move On

    Volkswagen is considering a change to its supervisory board that could lead to the replacement of Bernd Osterloh, the head of its powerful works council who clashed with CEO Herbert Diess last year, sources familiar with the matter said on Thursday.

    Osterloh’s departure, if confirmed, could weaken resistance to faster and more drastic restructuring at the German carmaker.

    Last year, the 64-year-old opposed an attempt by Diess to extend his contract as the CEO strives to cut costs and free up resources to invest more in electric vehicles.

    One source said Osterloh had been offered the position of personnel director at Traton, Volkswagen’s truck unit that was spun off and separately listed in 2019.

    Osterloh’s departure could weaken resistance to faster and more drastic restructuring at the German carmaker.

    A second source said the group was considering proposing a new labor representative to its board but did not give a name.

    The company, its main shareholder Porsche SE and the works council declined to comment.

    Five sources in total said Volkswagen would in the near future debate an important change in the composition of its supervisory board, adding no final decisions had been taken.

    The move follows a surge in Volkswagen’s shares, as investors warm to its efforts to overtake Tesla and become a world leader in electric cars.

    The shares have risen by more than half in value so far this year, giving the company a market value of 132 billion euros ($159 billion).

    Osterloh has been a member of Volkswagen’s supervisory board since 2005. Labour representatives make up half the board, under Germany’s system of corporate governance.

    Should Osterloh leave the supervisory board, as would be required should he take up an executive role at Traton, the most likely candidate to replace him would be deputy works council head Daniela Cavallo, the sources said.

    Any nomination would be subject to a confirmatory vote by shareholders at the annual meeting in July.

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  • New GTX Brand Joins The Volkswagen ID. Family

    New GTX Brand Joins The Volkswagen ID. Family

    We knew it would happen sooner or later but Volkswagen is all set to bring in a sporty top-of-the-range model to its electric vehicle range – the new ID.4 GTX. The car will be unveiled on April 28 and the company has already teased the logo. Similar to GTI and GTE, it stands for its own product brand.

    We’ll know more about the car itself, but we know a few details for now. Volkswagen says that the GTX models will impress when it comes to performance and design. An additional electric motor on the front axle brings the all-wheel-drive into the ID. Family. The additional motor switches on intelligently within a few milliseconds when very high performance or strong traction are required. In the new “Traction” driving mode, it is even permanently activated.

    Klaus Zellmer, Board Member for Marketing and Sales at the Volkswagen brand said, “Now the X is building the bridge to the mobility of the future. Sustainability and sportiness are not mutually exclusive but complement each other intelligently. ”

    The new product brand for the ID. Family gives the ACCELERATE corporate strategy a further boost. Volkswagen wants to become the most desired brand for sustainable mobility. The goal is to increase the share of pure electric cars in Europe to 70 percent of sales by 2030. Volkswagen wants to become climate neutral by 2050; around 16 billion euros will be invested in e-mobility, hybridization and digitization by 2025.

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  • Volkswagen Taigun Cabin Image Officially Released

    Volkswagen Taigun Cabin Image Officially Released

    The Volkswagen Taigun has been one of the much-anticipated launches for 2021. Expected to go on sale in India ahead of the festive season, the German carmaker has already revealed a fair bit about the SUV, however, so far the cabin of the SUV was kept hidden. But not anymore. Yes, Volkswagen India has officially released an image of the upcoming Taigun’s interior, giving us a good look at the SUV’s dashboard, center console and a section of the front seats.

    Now, visually, the design and styling are different, but the dual-tone black and grey color treatment is very similar to that of the T-Roc. The center stage on the dashboard is taken by the large touchscreen infotainment display, which is expected to be a 10-inch unit, and beside it, we see a large instrument cluster, which is also a fully digital unit. The Taigun also gets a flat-bottom steering wheel with controls for music, telephony, and possible cruise control. Overall the cabin comes with some sharp lines and boxy elements, like the air-con vents and the gaps for the inner door handles. Below the central vents, we have more bottoms for other in-car functions, including the air-con system. We also get to see a pair of USB charging ports, a 12V charging socket and an engine start-stop button. The SUV also gets a bunch of storage pockets, a central armrest and two-tone fabric, and faux leather upholstery.

    As for the exterior, the Taigun comes with a blast of chrome on the front grille and even around the fog lamp housing. Enhancing the SUV feel of the vehicle is the skid plate upfront and the plastic cladding on the profile, while the roof rails too make it look a bit taller and upfront, plus we also get LED headlights and DRLs. Volkswagen will also have a GT variant on offer, which will get some plush features like red brake calipers and a big dose of chrome with the addition of features on the inside, and a GT badge on the grille. At the rear section of the SUV comes attractive LED taillights connected by a large LED light bar that adds to the premium design, with the centrally positioned Taigun lettering.

    Under the hood, the Taigun will come with two turbocharged petrol engines – 1-litre TSI and 1.5-litre TSI. There is no diesel engine on offer. The first one will be the 1-litre engine that also powers the Polo and Vento, and is tuned to make 113 bhp and 175 Nm of torque. It comes mated to a 6-speed manual and an optional 6-speed automatic transmission. VW will also offer a 1.5-litre TSI engine, borrowed from the T-Roc, which makes 148 bhp and 250 Nm of torque and will be available with a 6-speed manual and a 7-Speed DSG.

  • Volkswagen To Buy Credits From Tesla In China To Comply With Environmental Rules

    Volkswagen To Buy Credits From Tesla In China To Comply With Environmental Rules

    A Volkswagen joint venture in China has agreed to buy green car credits from Tesla to help meet local environmental rules, three people briefed on the matter told Reuters. The deal, the first of its kind to be reported between the two companies in China, highlights the scale of the task Volkswagen faces in transforming its huge petrol carmaking business into a leader in electric vehicles to rival Tesla. Shares in Volkswagen, the world’s second-biggest automaker, have soared this year as investors warm to its plans to go electric. But in China, and elsewhere, the German company is still heavily reliant on traditional combustion-engine vehicles.

    China, the world’s biggest auto market where over 25 million vehicles were sold last year, runs a credit system that encourages automakers to work towards a cleaner future by, for example, improving fuel efficiency or making more electric cars. Manufacturers are awarded green credits that can be offset against negative credits for producing more polluting vehicles. They can also buy green credits to ensure compliance with overall targets, though trade is usually between affiliated companies that share a major stakeholder.

    To help meet increasingly tough targets, Volkswagen’s joint venture with state-owned Chinese automaker FAW, or FAW-Volkswagen, has agreed to buy credits from Tesla, the sources said, declining to be named as the talks were private. Volkswagen declined to comment on the deal. It said in a statement it was “strategically targeting to be self-compliant” with rules in China, but that if required it would buy credits. Tesla did not respond to requests for comment.

    FAW-Volkswagen sold 2.16 million cars last year. The business and another Volkswagen venture in China – with SAIC Motor – were among the most negative credit-generating automakers in the country in 2019, according to data from China’s Ministry of Industry and Information Technology. The ventures’ gasoline sedans and SUVs have so far proved far more popular in China than their electric vehicles. It is unclear how many green credits FAW-Volkswagen will buy from Tesla, but FAW-Volkswagen’s offer was around 3,000 yuan per credit, higher than prices in previous years, the sources said.

    The deal effectively sees Volkswagen, the biggest foreign carmaker in China, subsidising a rival while the German group ramps up production of electric vehicles. Its ventures in China plan to roll out five electric ID series models this year.

    In the United States, where regulators also set environmental requirements, Tesla has sold regulatory credits to rivals such as Fiat Chrysler, now part of Stellantis, but it has not so far reported any deals in China, where it started making cars in late 2019. Tesla’s revenue from selling regulatory credits totalled $1.58 billion in 2020, according to a regulatory filing.

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  • Volkswagen Clarifies That It’s Not Rebranding To Voltswagen In The US

    Volkswagen Clarifies That It’s Not Rebranding To Voltswagen In The US

    Earlier today we told you about Volkswagen’s plan to change its name to Voltswagen in the US. Volkswagen US in fact issued a statement that it had changed from Volkswagen of America to ‘Voltswagen of America’ to show the clear emphasis on the brand’s electric aspirations in the market.

    The news clearly had a big impact given that there were official quotes from the company’s top management and soon, there was a lot of confusion about how the shares were going to be transferred to the new name. The announcement also saw Volkswagen’s stock price rise by 5 percent on Tuesday as well.

    Scott Keogh, president and CEO of Volkswagen of America, said in the release, “We might be changing out our K for a T, but what we aren’t changing is this brand’s commitment to making best-in-class vehicles for drivers and people everywhere,”

    However, it’s come to light now, that the company had intended it as an ‘April Fools’ post. VW issued a statement confirming that it won’t be changing its brand name to ‘Voltswagen’. The company sent out a statement saying that “The renaming was designed to be an announcement in the spirit of April Fool’s Day,”

    Volkswagen clearly fooled retail news as well like the many other media houses around the globe and kudos to the team for it. However, it will be interesting to see if the rise in the stock price of the company will prompt an inquiry from the SEC in the US.

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  • Volkswagen Takes Aim At Tesla With Own European Gigafactories

    Volkswagen Takes Aim At Tesla With Own European Gigafactories

    Volkswagen plans to build half a dozen battery cell plants in Europe and expand infrastructure for charging electric vehicles globally, accelerating efforts to overtake Tesla and speed up mass adoption of battery-powered cars. The world’s No. 2 carmaker, which is in the midst of a major shift towards battery-powered cars, said on Monday it wants to have six battery cell factories operating in Europe by 2030, which it will build alone or with partners.

    “Our transformation will be fast, it will be unprecedented,” Chief Executive Herbert Diess told Volkswagen’s Power Day, which also featured the CEOs of BP, Enel and Iberdrola in an effort to match some of the buzz of Tesla’s Battery Day last September.

    “E-mobility has become core business for us,” he added.

    Volkswagen, whose shares rose as much as 3.8%, did not specifically say how much the plan will cost. It said in December that it planned to spend 35 billion euros ($41.7 billion) on e-mobility as a whole by 2025.

    The group had been laggard on electrification until it admitted in 2015 to cheating on U.S. diesel emissions tests and had to deal with new Chinese quotas for electric vehicles. It now has one of the most ambitious programs in the industry.

    Volkswagen said the European factories will have a joint production capacity of up to 240 gigawatt hours (GWh) a year, adding the first 40 GWh would come from Sweden’s Northvolt, with production starting in 2023.

    As part of the deal, Volkswagen will raise its 20% stake in Northvolt and also take over the Swedish firm’s stake in a planned battery cell venture in the German city of Salzgitter, which will form the second factory from 2025.

    This will be followed by a factory in Spain, France or Portugal in 2026 and a site in Poland, Slovakia or the Czech Republic by 2027. Two more plants will be set up by 2030.

    While the first two factories are already reflected in Volkswagen’s financial planning, the group is currently in “deep discussions” about how the subsequent plants fitted with financial targets, board member Thomas Schmall said.

    Volkswagen is also working on a major expansion of charging infrastructure, a lack of which is still seen as a big barrier to the mass adoption of battery-powered cars. Via existing efforts and partnerships with oil major BP as well as top European utilities Enel and Iberdrola, Volkswagen aims to operate about 18,000 public fast-charging points in Europe by 2025.

    This represents a five-fold expansion of the existing fast-charging network, Volkswagen said, adding it would invest 400 million euros in the initiative.

    In North America, Volkswagen targets 3,500 fast-charging points by the end of 2021 via its Electrify America unit, while in China, the world’s largest car market, the group aims for 17,000 by 2025.

    In China, where Volkswagen last year acquired 26.5 percent of battery maker Guoxuan High-tech Co Ltd, the carmaker now aims to sell more than 2 million electric vehicles a year by the end of the decade.

    Shifting to design, Volkswagen unveiled plans to have a new unified prismatic battery cell from 2023, which will support cost cuts generated by the higher level of in-house cell production and could impact its current suppliers.

    South Korean battery makers’ shares, including in LG Chem, whose unit LG Energy Solution makes batteries for Volkswagen, and SK Innovation, fell as much as 5.8% and 5.3% respectively on Tuesday after the news.

    Electric vehicle makers, including Tesla, are using cylindrical battery cells, which resemble flashlight batteries and are relatively inexpensive and easy to manufacture.

    Prismatic cells, which resemble a thin hardcover book, are housed in a rectangular metal case and are more expensive. Pouch cells, another alternative, are thinner and lighter, and resemble a flexible metal mailing envelope.

    “On average, we will drive down the cost of battery systems to significantly below 100 euros ($119) per kilowatt hour,” Schmall said. “This will finally make e-mobility affordable and the dominant drive technology.”

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  • Volkswagen Plans Six European Battery Cell Plants By 2030

    Volkswagen Plans Six European Battery Cell Plants By 2030

    Volkswagen plans to have six battery cell production plants operating in Europe by 2030 to secure supply for the world’s No.2 carmaker’s electric vehicle ambitions. The plants, to be built in partnerships, will have a production capacity of 240-gigawatt hours a year, VW said.

    “E-mobility has become core business for us. We are now systematically integrating additional stages in the value chain,” Chief Executive Herbert Diess told VW’s Power Day.

    “We secure a long-term pole position in the race for the best battery and best customer experience in the age of zero-emission mobility,” Diess added on Monday.

    The group also said it would enter partnerships with oil major BP and top European utilities Enel and Iberdrola to expand electric vehicle charging infrastructure, still seen as a major hurdle to the mass adoption of battery-powered cars.