Volkswagen to invest $193 bln to hit EV target

Herbert Diess, chief executive officer at Volkswagen, discusses the potential impact of auto tariffs, joining forces on vans with Ford Motor Co., and expectations for industry consolidation.

Despite high profits in 2018, Volkswagen has announced heavy job cuts. The company has said it would reinvest the money into developing electric vehicles.

A VW manager, charged recently alongside former CEO Martin Winterkorn, is now being investigated over nearly $1 million in bonuses. The huge cash pile was paid after the Dieselgate emissions scandal came to light.

Frank Witter, chief financial officer at Volkswagen, discusses the importance of China to his business, how a U.S.-China trade agreement would impact the company, enlarging their footprint in the U.S., expansion in China, the drop in sales in Audi and Porsche, the potential for job cuts, an IPO for the trucks division and unlocking value in their sports car division.

Factory workers at a Volkswagen plant in Tennessee have voted against unionizing. The vote dealt a blow to UAW efforts to gain a foothold among foreign auto facilities in the southern part of the United States.

Herbert Diess, Volkswagen AG chief executive officer, and Jim Hackett, Ford Motor Co. chief executive officer, discuss the automakers' agreement to extend their partnership in electric and self-driving car technology. They speak with Bloomberg's David Westin on "Bloomberg Markets."

The iconic car rolled off the assembly line in July 2019 after more than two decades since its relaunch. There are only 65 'Final Edition' Beetles available, and they can only be bought in Mexico.

The German multinational company are due to be pay $96.5 million (€87.6 million) for the error. VW admitted in 2015 that up to 11 million cars had been fitted with software designed to deceive emissions testers.

What has the 'dieselgate' scandal cost Volkswagen?

The German car giant said it will invest even more money than previously planned into expanding its electric fleet. Over the next decade, VW plans to roll out 75 completely electric models and 60 hybrid vehicles.

VW is under pressure for working with the Chinese government in Xinjiang after evidence of human rights abuses against Uighurs in the region. Meanwhile, the German and US governments urged China to uphold human rights.

Nearly 50 hours of secretly recorded conversations appear to show Volkswagen engaging in legally dubious behavior in a dispute with a supplier. Now the carmaker is investigating who released them to the media.