Volkswagen defends presence in China's Xinjiang amid uproar over Uighur abuses
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.
Germany fines BMW, Daimler, VW over steel cartel
German carmakers Daimler, BMW and Volkswagen have been ordered to pay €100 million for forming a cartel to fix steel prices. Germany's competition watchdog has zeroed in the steel industry in recent years.
VW settles Australia suit over 'dieselgate' scandal
Volkswagen has agreed to pay out millions over a class-action suit brought by about 100,000 Australian consumers. The company has paid billions to US and Canadian consumers and faces a second Australian lawsuit.
VW’s Ferdinand Piech dies at age 82
The man who built Volkswagen into the world’s largest carmaker has died at age 82. Ferdinand Piech became CEO of struggling VW in the 1990s and he successfully returned the automaker to profit and laid the groundwork for its dominance in the sector with his acquisition of Porche. Bloomberg’s Chris Bryant discusses his legacy on “Bloomberg Markets: European Open.” Bryant is a Bloomberg Opinion columnist. The opinions expressed are his own.
UK bans ads over gender stereotypes in landmark ruling
Adverts by cream cheese maker Philadelphia and car giant Volkswagen will no longer appear on UK television, the agency ruled. But both companies have insisted their adverts did not involve sexist tropes.
Ford's Argo AI self-driving cars roam the streets of Detroit in test
Argo AI, Ford’s partner in developing its self-driving system (SDS), launches test drives of its third generation of development prototypes in Detroit. Volkswagen and Ford have announced a $7 billion collaboration on electric and self-driving vehicles. Two test specialists sit in the car as it drives on Detroit's streets.
Volkswagen is ‘Tremendously Undervalued’ as a company, says CFO
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.
BMW joins VW in predicting China sales growth
MW joins Volkswagen in predicting China sales growth for the year. Nicolas Peter, chief financial officer at BMW, told Bloomberg's Tom Mackenzie exclusively that the carmaker expects 5-10% growth for its China sales this year.
Twilight of combustion engine comes for Germany
We may be witnessing the end of the internal combustion engine. As more and more consumers and investors make the shift to electric vehicles, will Germany’s auto makers be able to adapt in time? BMW and Volkswagen are among those actively looking to expand their offering of electric vehicles.