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Volkswagen AG

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  • Lamborghini signs deal to build new SUV in Italy Wednesday, 27 May 2015 | 1:31 PM ET

    MILAN— Super sports carmaker Lamborghini confirmed Wednesday it will enter the luxury SUV market and signed a deal to produce the new vehicle in Italy after receiving more than 80 million euros in government incentives. Lamborghini CEO Stephan Winkelmann said at the signing ceremony in Rome with Premier Matteo Renzi that the Italian package "was the most...

  • FRANKFURT, May 23- Carmaker Daimler on Saturday announced a partnership with mobile technologies company Qualcomm Inc. to explore wireless recharging of mobile phones in cars as well as recharging of electric cars without cables. The move forms part of a broader push by Daimler, parent company of Mercedes-Benz, as well as rival German carmakers BMW and Audi to...

  • FRANKFURT, May 21- Germany's premium carmakers Mercedes, Audi and BMW have teamed up with private equity firm General Atlantic to increase their firepower to acquire Nokia's mapping unit HERE, according to two people familiar with the matter. Finland's Nokia started a strategic review of its maps business last month, setting in motion an auction process that...

  • Mercedes-Benz fires 500 workers at Brazil truck plant Tuesday, 19 May 2015 | 7:09 PM ET

    SAO PAULO, May 19- The Mercedes-Benz truck unit of Germany's Daimler AG said on Tuesday it had dismissed 500 workers at a Brazilian truck plant and is putting about 7,000 others on paid leave as it suspends production in the face of plunging sales. Truck sales in Brazil tumbled about 40 percent in the first four months of this year compared with the same period of...

  • BEIJING, May 19- International automakers are slashing prices for vehicles they sell in China in response to a slowdown in demand that threatens the industry's rich profit margins. General Motors Co and Ford Motor Co cut prices on Chinese models late last week, following moves by Volkswagen AG last month to increase discounts on several popular vehicles.

  • NEW YORK, May 18- AT&T Inc is gearing up to bring connected car users exclusive content such as videos and games that can be streamed onto personal mobile devices later this year, AT&T's senior vice president of emerging devices Chris Penrose said. AT&T has signed up eight automaker partners, including General Motors Co, Audi AG and Ford Motor Co, to hook up cars with...

  • *Car companies use Nvidia's "supercomputer on a chip". DETROIT, May 14- It took Silicon Valley chipmaker Nvidia Corp the better part of a decade to gain acceptance as a global automotive supplier, a lesson for other technology firms hoping to make a similar transition from consumer electronics to car components. Nvidia had a thriving business in supplying...

  • *BMW family owner hails smooth management transition. MUNICH/ STUTTGART, May 13- The normally secretive family that owns BMW broke silence on Wednesday to laud the company's seamless management transition as rival German carmaker Volkswagen inspects the damage from a bitter leadership crisis. "We have set the course for the future and are very happy about a...

  • MUNICH, May 13- Harald Krueger takes over as CEO of BMW after the group's annual shareholders' meeting on Wednesday, a job needing nerves of steel, or maybe carbon fiber given recent trends, as the company battles to keep its lead over Mercedes and Audi. Under outgoing chief executive Norbert Reithofer, BMW invested between 1.5 billion euros and 2 billion to develop...

  • NEW YORK, May 12- In a long-running battle between oil refiners and the U.S. farm lobby over the future of ethanol fuel, biofuel producers may have just made a small, but important dent in big oil's formidable defenses. Over the past few months, privately held retailers Kum& Go and Sheetz have become the first significant chains to announce plans to start selling E15, a...

  • PARIS/ DETROIT, May 11- Sweden's Volvo Cars has chosen a site in South Carolina for a $500 million investment in its first U.S. plant, it said on Monday, targeting a bigger share of the increasingly competitive North American premium market. Work will begin this year on the factory in Berkeley County, with production due to start in 2018 and quickly reach 100,000...

  • A Volvo truck equipped with safety technology.

    PARIS/ DETROIT, May 11- Sweden's Volvo Cars has chosen a site in South Carolina for a $500 million investment in its first U.S. plant, it said on Monday, targeting a bigger share of the increasingly competitive North American premium market. Work will begin this year on the factory in Ridgeville, Berkeley County, with production due to start in 2018 and quickly reach...

  • FRANKFURT, May 8- German car companies may need help to compete with a wealthy field of bidders for Nokia's high-tech mapping unit HERE, as the entry of technology company Uber into the fray signals interest from deep-pocketed Silicon Valley players, bankers and executives close to the deal said. German auto makers Daimler, owner of Mercedes-Benz, BMW and...

  • May 8- Taxi service Uber has submitted a $3 billion bid for Nokia Oyj's map business HERE, the New York Times reported citing people with knowledge of the offer. Uber is competing against a consortium of automakers, including BMW, Audi and Mercedes-Benz, the newspaper said, citing people with knowledge of the offer. The book value of the unit is about 2 billion euros,...

  • TOKYO, May 8- Toyota Motor Corp said it will crank net profit up to a third straight annual record this year, as rising U.S. sales offset weaker business in Asia after last year's bumper earnings were powered by foreign exchange gains and cost cuts. That's below the average estimate of 2.44 trillion yen from a Thomson Reuters survey of 27 analysts.

  • Uber bids for Nokia's mapping service - NYT Thursday, 7 May 2015 | 6:19 PM ET

    May 7- Ride-hailing service Uber has submitted a bid for Nokia Oyj's map business, HERE, for as much as $3 billion, the New York Times reported, citing people with knowledge of the offer. Finland's Nokia said last month it had started a strategic review for HERE, a competitor to Google Maps, after announcing a takeover of network equipment rival Alcatel-Lucent.

  • May 7- Nvidia Corp forecast lower-than-expected revenue for the second quarter, weighed down by lower demand for its graphic processor units due to a fall in personal computer sales and a stronger dollar. Nvidia, which competes with Advanced Micro Devices Inc and Intel Corp, forecast second-quarter revenue of $1.01 billion, plus or minus two percent, below the...

  • DETROIT, May 7- The United Auto Workers said on Thursday it wants to enter new talks with Volkswagen AG about recognizing the union as collective bargaining agent for workers at the German automaker's plant in Chattanooga, Tennessee. Casteel told reporters that Chattanooga is the only VW plant without such a works council. VW said in a statement that...

  • DETROIT, May 7- The United Auto Workers said on Thursday it wants to enter new talks with Volkswagen AG about recognizing the union as collective bargaining agent for workers at the VW plant in Chattanooga, Tennessee. UAW Secretary-Treasurer Gary Casteel said the union made a renewed pitch to the German auto group after a recent filing with U.S. labor officials...

  • *BMW reaffirms targets, sees China sales growth slow. FRANKFURT, May 6- Record sales of SUVs helped German carmaker BMW AG to beat first-quarter profit forecasts, despite slowing demand growth in China. "Whilst the market has been focused on BMW's weak product momentum, poor import sales into China and overall China headlines, the company once again printed a very...