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Porsche SE, Volkswagen’s biggest shareholder, said it plans to scoop up 25 percent, plus one extra share, in carmaker Porsche AG voting stock when VW lists the sports car brand.
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Italy, Portugal, Slovakia, Bulgaria and Romania want to delay a EU plan to ban the sale of new gasoline and diesel-powered vehicles in 2035 by five years.
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Experts predict the Russian invasion of Ukraine could slash global production of new cars and trucks by millions of units in 2022.
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Volkswagen and Renault will suspend operations temporarily as Russia’s invasion of Ukraine impacts European supply chains.
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Volkswagen and its top shareholder have prepared a preliminary agreement to list Porsche to boost the parent company's valuation and fund its push into EVs.
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Volkswagen plans to decide on location for new plant and increase production output in the second half of 2022, reports company officials.
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Luxury car brands, such as Rolls-Royce, Bentley, Porsche and BMW saw record sales in 2021.
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The U.S. Supreme Court has rejected Volkswagen AG's appeal to avoid lawsuits seeking damages over the automaker's alleged diesel emissions tampering.
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Though forecasts predict the global semiconductor shortage may not right itself until 2023, vehicle manufacturers express hope for improvement in Quarter 4.
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2021 Hyundai Santa Fe EV tops the list.
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