The Group Board of Management at Volkswagen AG approved a settlement package during an extraordinary meeting today. The Board said the collapse of settlement negotiations with the Federation of German Consumer Organisations (Verbraucherzentrale Bundesverband – vzbv) should not have a negative impact on the company’s customers. For this reason, Volkswagen will offer the previously negotiated settlement to customers who joined the class-action suit and who meet the terms of the settlement package without seeking the support of the vzbv.
Volkswagen will celebrate the world première of the Golf GTD at the Geneva International Motor Show from 5 to 15 March. Among the technical highlights is the most powerful and – thanks to twin dosing – cleanest turbo diesel injection (TDI) engine ever to be installed in a Golf. It harmonises the confident dynamism of the Golf GTD together with higher efficiency and lowest emissions. The charismatic design of the Golf GTD reflects a unique combination of dynamism and self-confidence.
The second generation of Faculty 73 begins the qualification program at the AutoUni in Wolfsburg on March 1, 2020. The application phase for the third generation closes on March 8, 2020, with training scheduled to commence on September 1, 2020.
The establishment of a dense public network of ultra-fast e-vehicle charging stations can be realized much faster than previously assumed. E.ON and Volkswagen Group Components are giving a new impetus with the prototype of a new, flexible ultra-fast charging station that will be presented in Essen. By integrating a battery system, it will be possible to install ultra-fast charging stations almost anywhere and at significantly lower cost without civil engineering or mains connection.
The Volkswagen Passenger Cars brand is further bolstering the future viability and competitiveness of its main plant in Wolfsburg in the current business year. “We already accomplished a great deal in 2019. To become even more efficient, we want to invest in the digitalisation of our processes and Industry 4.0 measures with a euro sum in the middle double-digit millions range in 2020 alone,” said Stefan Loth, Manager of the Wolfsburg Plant at this year’s production site symposium.
The Board of Management and Supervisory Board of Volkswagen AG have approved the sale of the 76 percent stake or approximately 5.3 million shares in the listed company RENK AG to Triton for a purchase price of 97.80 EUR per share which is subject to adjustments in relation to dividend. The planned disposal results in a book value gain according to IFRS of approximately 150 million EUR for the Group and implies a cash inflow of approximately 530 million EUR. In the agreement of the disposal a long-term location and employment guarantee for the three German sites in Augsburg, Rheine and Hanover until December 31st 2026 was agreed between RENK and Triton. Furthermore, Triton agreed to keep the present legal form of the enterprise and the headquarters of RENK AG. All business divisions at the drive technology specialist are to be continued. The transaction is subject to foreign investment control and merger control approvals and is independent of the outcome of the voluntary takeover offer to outstanding shareholders of RENK announced by Triton. The transaction between Volkswagen and Triton is expected to be completed by early 2021.
TRATON SE (“TRATON”), one of the world’s largest commercial vehicle manufacturers, today offered to acquire all of the outstanding shares of common stock of Navistar International Corporation (“Navistar”) (NYSE: NAV) not already owned by TRATON at a price of USD 35 per share in cash. This represents a 45% premium over Navistar’s closing share price of USD 24.11 on January 29, 2020 and a 19% premium over Navistar’s 90-day volume weighted average price of USD 29.40. TRATON currently owns 16.8% of the outstanding common shares of Navistar.
This year’s classic season opens with a genuine highlight for Volkswagen: from 31 January to 02 February, Volkswagen Classic is celebrating the 65th anniversary of the Karmann Ghia Type 14 at the Bremen Classic Motorshow. Italian elegance combined with solid Beetle technology – represented by the last Type 14 Coupé ever made.
Having a ball in the snow with the T-Roc R – during the R Experience Ice in Sweden, drivers drift across snow and ice on frozen Lake Arvidsjaursjön. Their challenge: to pilot the powerful Volkswagen T-Roc R on glaze in the bitter cold of a region located just south of the Arctic Circle.
Bremen Classic Motorshow
New Brand Design for dealerships
75th Anniversary: Volkswagen Remembers the Liberation of Auschwitz
Story "In good shape for the winter"
Holocaust Memorial 2020
Volkswagen Group Refugee Aid