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June 4, 2020
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Tesla’s Elon Musk calls for breakup of Amazon in tweet

Reuters
FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the automobile awards “Das Goldene Lenkrad” (The golden steering wheel) given by a German newspaper in Berlin, Germany, November 12, 2019. REUTERS/Hannibal Hanschke/File Photo (Reuters) – Telsa Inc Chief Executive Elon Musk on Thursday called......
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Volkswagen resumes deliveries of Golf 8 after software fix

Reuters
FILE PHOTO: People take pictures of the new Golf 8 car during its presentation at the Volkswagen plant in Wolfsburg, Germany October 24, 2019. REUTERS/Fabian Bimmer FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) is resuming deliveries of its Golf 8 model after fixing a software glitch, a spokesman said on Thursday. The......
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America’s billionaire wealth jumps by over half a trillion during COVID-19 pandemic: report

Reuters
FILE PHOTO: A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Picture taken August 28, 2018. REUTERS/Marcos Brindicci/File Photo (Reuters) – The combined wealth of America’s billionaires, including Amazon.com Inc (AMZN.O) founder Jeff Bezos and Facebook Inc (FB.O) CEO Mark Zuckerberg, jumped over......
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Intesa CEO says state-backed FCA loan crucial to protect Italy’s economy

Reuters
FILE PHOTO: A Mirafiori FCA worker walks at the Mirafiori industrial complex on the 80th birthday of the plant in Turin, Italy July 11, 2019. REUTERS/Massimo Pinca/File Photo MILAN (Reuters) – A 6.3 billion euro ($7 billion) state-backed loan for Fiat Chrysler (FCA) (FCHA.MI) financed by Intesa Sanpaolo (ISP.MI) is......
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German auto stimulus to boost VW’s electric push

Reuters
BERLIN/FRANKFURT (Reuters) – Germany unveiled sweeping incentives for cheap electric cars, providing a boost to Volkswagen’s (VOWG_p.DE) electric push while penalising heavy sports utility vehicles (SUVs) with new staggered taxes for polluting combustion-engined cars. FILE PHOTO: A Volkswagen E-Golf electric vehicle is displayed at the Canadian International Auto Show in......
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Factbox: German stimulus to drive forward green vehicles

Reuters
FILE PHOTO: An electric vehicle charging station of municipal utilities “Stadtwerke Ruesselsheim” is pictured at their headquarters in Ruesselsheim, Germany, May 23, 2019. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – Germany’s coronavirus recovery stimulus package contains measures to boost low emission cars and electric vehicle charging infrastructure. Here are some of them:......
Reuters - Business

German auto stimulus to boost Volkswagen’s electric push

Reuters
BERLIN/FRANKFURT (Reuters) – Germany unveiled sweeping incentives for cheap electric cars and for hybrid vehicles, providing a boost to Volkswagen’s (VOWG_p.DE) electric push while staggered taxes for polluting combustion-engined cars will penalise sports utility vehicles. FILE PHOTO: A Volkswagen E-Golf electric vehicle is displayed at the Canadian International Auto Show......
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Renault finalises 5 billion euro state-backed loan

Reuters
A Renault car is seen in a show room at a Renault carmaker dealer, amid the coronavirus disease (COVID-19) outbreak in Sint-Pieters-Leeuw, Belgium May 29, 2020. REUTERS/Yves Herman PARIS (Reuters) – Renault (RENA.PA) finalised on Wednesday a 5 billion euro ($5.60 billion) loan from with the French government, strengthening the......
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French Finance Minister: Renault loan not signed yet, but should be soon

Reuters
A customer walks near a vehicle at a Renault carmaker dealer amid the coronavirus disease (COVID-19) outbreak in Sint-Pieters-Leeuw, Belgium May 29, 2020. REUTERS/Yves Herman PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Tuesday the government had not yet signed off on a planned 5 billion euro......
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Volkswagen closes $2.6 billion investment in self-driving startup Argo AI

Reuters
FILE PHOTO – Signage at a Volkswagen dealership is seen in London, Britain, March 30, 2016. REUTERS/Toby Melville (Reuters) – German automaker Volkswagen AG (VOWG_p.DE) has closed its $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup disclosed in a blog post on Tuesday. Argo, founded in 2016 by......
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U.S. court refuses to shield Volkswagen in diesel scandal lawsuits

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(Reuters) – A U.S. appeals court ruled on Monday that Volkswagen AG (VOWG_p.DE) cannot escape potential financial penalties from two counties in Florida and Utah that may amount to a “staggering” additional liability arising from the German automaker’s diesel emissions scandal. FILE PHOTO: The Volkswagen logo is seen on a......
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Opel to add PSA model to Ruesselsheim production: Handelsblatt

Reuters
The logo of a German car manufacturer Opel is seen at a branch in Herisau, Switzerland October 16, 2018. REUTERS/Arnd Wiegmann FRANKFURT (Reuters) – German automaker Opel is planning to start manufacturing a compact car for French parent PSA at its main Ruesselsheim plant from mid-2021 onwards, German business daily......
Reuters - Business

Hyundai Motor’s May sales fall sharply year-on-year on COVID-19 impact

Reuters
FILE PHOTO – An employee wearing a mask to prevent contracting the coronavirus disease (COVID-19) waits for custormers next to a Hyundai Motor’s vehicle at Hyundai Motor Studio in Goyang, South Korea, April 21, 2020. REUTERS/Kim Hong-Ji SEOUL (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) said on Monday its......
Reuters - Business

Hyundai Motor’s May sales down 39% as virus hits auto demand

Reuters
FILE PHOTO – An employee wearing a mask to prevent contracting the coronavirus disease (COVID-19) waits for custormers next to a Hyundai Motor’s vehicle at Hyundai Motor Studio in Goyang, South Korea, April 21, 2020. REUTERS/Kim Hong-Ji SEOUL (Reuters) – South Korea’s Hyundai Motor (005380.KS) said on Monday its provisional......
Reuters - Business

Volkswagen pumps 2 billion euros into China electric vehicle bet

Reuters
BEIJING/HONG KONG (Reuters) – Volkswagen AG (VOWG_p.DE) plans to boost its electric push in China, the world’s biggest auto market, by pumping 2.1 billion euros in two Chinese electric vehicle players. FILE PHOTO: A new logo of German carmaker Volkswagen is unveiled at the VW headquarters in Wolfsburg, Germany September......
Reuters - Business

Renault to restructure French factories in bid to slash costs

Reuters
PARIS (Reuters) – Renault (RENA.PA) said on Friday it was launching talks with unions to restructure several French car plants, potentially leading to closures, as it confirmed plans to cut around 15,000 jobs worldwide. FILE PHOTO: An employee walks past a logo of Renault carmaker at a dealership in Nantes,......
Reuters - Business

Volkswagen pumps 2 billion euros into China electric vehicle bet, buys stakes in two firms

Reuters
BEIJING/HONG KONG (Reuters) – Volkswagen AG (VW) (VOWG_p.DE) said on Friday it has agreed to invest 2.1 billion euros ($2.33 billion) in two separate Chinese electric vehicle players, upping its bet on the world’s biggest auto market as international rivals seek to muscle in. FILE PHOTO: A new logo of......
Reuters - Business

Volkswagen raises China electric vehicle bet by 2 billion euros, buys stakes in two separate firms

Reuters
FILE PHOTO: A new logo of German carmaker Volkswagen is unveiled at the VW headquarters in Wolfsburg, Germany September 9, 2019. REUTERS/Fabian Bimmer BEIJING (Reuters) – Volkswagen AG (VW) (VOWG_p.DE) said on Friday it has agreed to invest 2.1 billion euros ($2.33 billion) in two separate Chinese electric vehicle players,......
Reuters - Business

Volkswagen agrees to buy 50% of EV partner JAC’s parent company

Reuters
FILE PHOTO: A new logo of German carmaker Volkswagen is unveiled at the VW headquarters in Wolfsburg, Germany September 9, 2019. REUTERS/Fabian Bimmer BEIJING (Reuters) – Anhui Jianghuai Automobile Group (JAC Motors) (600418.SS) said on Friday that German automaker Volkswagen AG (VOWG_p.DE) agreed to buy 50% of its parent company......
Reuters - Business

Renault poised to announce 15,000 layoffs worldwide: union

Reuters
FILE PHOTO: An employee walks past a logo of Renault carmaker at a dealership in Nantes, France, May 26, 2020. REUTERS/Stephane Mahe PARIS (Reuters) – French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with faltering......

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