All Press Releases
This section contains all current press releases on topics and news items concerning Volkswagen.
YouTube series “Becoming ID.” wins award
The YouTube series “Becoming ID.” received the Gold award at the international Telly Awards in the “Branded Content - Campaign Branding” category. In addition to the cinematic implementation, the fact that the series offered an unusually intensive look behind the scenes of the history of the creation of the ID.3 and thus a completely new generation of vehicles was also recognized.
Group-wide personnel changes in Technical Development and Product Line organization
Matthias Rabe has been named Member of the Board for Engineering at Bentley effective August 1. He succeeds Werner Tietz, who moves to SEAT as Executive Vice-President for Research and Development as of July 1. Werner Tietz succeeds Axel Andorff, who assumes responsibility for the Midsize and MEB Product Line at ŠKODA, also with effect from July 1. He takes over from Matthias Glodny, who becomes Head of the Modular Toolkits, Drivetrains and Modules Product Line at Volkswagen Passenger Cars brand.
Volkswagen intensifies e-mobility activities in China
Today, Volkswagen has initiated the next chapter for its business in China. Volkswagen plans to increase its share in JAC Volkswagen, its joint venture for e-mobility. Around €1 billion is to be invested. This amount includes the acquisition of 50 percent of JAG, the parent company of the Volkswagen partner JAC, and an increase in the stake in JAC Volkswagen from 50 to 75 percent. By gaining management control, Volkswagen is paving the way for more electric models and infrastructure. Furthermore, Volkswagen will acquire a 26 percent stake in battery manufacturer Gotion High-Tech Co., Ltd. for around €1 billion, becoming the company’s largest shareholder.
Landmark in Volkswagen-Ford global alliance
Landmark in Volkswagen-Ford global alliance: The Volkswagen AG Supervisory Board ap-proved further contracts under the cooperation with Ford Motor Company announced last year. The next milestones in the vehicle projects are anticipated to be implemented in near the future with the signatures of both companies. Three projects in the areas of elec-trification and commercial vehicles are planned to be realized as a first step. The Volkswagen-Ford global alliance – which does not involve cross-ownership between the companies – is expected to create annual efficiencies for each company.
Volkswagen Group Components presents the SPEED+ Awards
Today, for the third consecutive year, Volkswagen Group Components awarded the Speed+ Award to its best performing plants. Thomas Schmall, CEO of Volkswagen Group Components, presented the coveted awards from the international and cross-brand competition for efficiency for the first time in an online event. The nominated plants from sites around the world tuned into the live event; thousands of employees followed the announcement of the winners by webcast. The component plants of the Audi, SEAT and ŠKODA brands also took part in the competition for the first time. The Tianjin components plant in China was the big winner this year, scooping three gold awards.
Cultural Initiative 'Volkswagen ART4ALL' Is Honored with Significant Award
During the digital meeting of the Working Group for Cultural Sponsoring (AKF – Arbeitskreis Kultursponsoring) within the Association of Arts and Culture of the German Economy at the Federation of German Industries (Kulturkreis der deutschen Wirtschaft im BDI e.V.) taking place this evening, Volkswagen will receive the AKF-Award for the format 'Volkswagen ART4ALL', honoring its successful and invaluable role in cultural engagement. Since April 2018, Volkswagen and Hamburger Bahnhof – Museum für Gegenwart – Berlin have not only been offering free admission between 4 and 8 pm every first Thursday of a month, but also enhanced by various artistic programs, workshops and guided tours, inviting everybody to participate in the cultural world. Starting in January 2020, Kunstmuseum Wolfsburg has joined the format and offers its visitors free admission between 4 and 9 pm every last Wednesday of a month.
World premiere of the new Volkswagen Nivus
Tomorrow, Volkswagen do Brasil will be presenting its most recent model: the Nivus. The new Crossover Utility Vehicle (CUV) in the small car segment convinces with dynamic design, an ample vehicle interior and an elevated seating position. The virtual world premiere will take place at 4 pm (CEST). The presentation is broadcasted at https://press.live-vwnivus.com/. The event from Sao Paulo will be held in English, Spanish and Portuguese.
JETTA successfully offers entry-level individual mobility in China
JETTA, Volkswagen’s sub brand in China, continues to be a well-received option for buyers in China seeking to own a car for the first time. In April, JETTA delivered 13,500 cars to customers. This equals roughly one percent of the world’s largest automotive market, a development made possible by one of the best brand starts in Chinese history. From
January to April, around 38,000 of the brand’s cars were sold.
Volkswagen is publishing reports about a special audit of the Environmental Management Systems
Today Volkswagen is publishing the third and final series of reports from an Environmental Management System special audit, conducted in 2019, which is required by the U.S. Department of Justice and California Third Partial Consent Decrees (“Consent Decrees”) entered into by Volkswagen in 2017.
All Volkswagen retail partners agree new sales model for ID. family
All Volkswagen retail partners have signed the agreement for the new sales model for vehicles from the all-electric ID. family. The sales launch of the ID.3 marks the start of the agency model for private customers and small commercial enterprises that has already proven its worth for major customers over many years. The benefit for customers: They can switch seamlessly between online and offline channels and order direct from Volkswagen, while their preferred dealer remains their local contact. The dealer assumes the role of agent under the new model and receives a commission from Volkswagen for this service.
Golf GTI with new Vehicle Dynamics Manager
Agile drive, the running gear of dreams, unmistakeable design, perfect ergonomics, unadulterated driving pleasure – that’s the DNA of a true sports car. At Volkswagen, this is represented by three letters: GTI. The eighth generation of the sporty Golf derivate is now on the way. The new Golf GTI is more digital, networked, more sharply designed and more active in motion than ever before. Its turbocharged engine generates 180 kW (245 PS). The new Vehicle Dynamics Manager intelligently manages the electromechanical running gear systems. Maximum dynamism, maximum comfort – Golf GTI combines both.
Volkswagen stands up for respectful coexistence
Volkswagen is supporting “Wolfsburger Woche für Vielfalt und Toleranz” (Wolfsburg diversity and tolerance week) organized by Aids-Hilfe Wolfsburg. Representatives from the German Aids organization and the Group Works Council raised rainbow flags outside the brand tower as a visible sign of the initiative. The rainbow is a global symbol of diversity, tolerance and acceptance.
Strong impetus from Volkswagen to boost sales
From May 15, Volkswagen Passenger Cars is offering customers the #vwfüreuch program, an attractive all-in package for leasing and financing. From a monthly payment of €9.99, the package includes payment protection insurance in case customers lose their job as well as maintenance and inspections and an extended warranty for the entire term of the contract. Customers can also benefit from especially attractive leasing and financing conditions.
Volkswagen invests in battery operations at Salzgitter
The joint venture between Volkswagen Group and the Swedish battery producer Northvolt AB is gaining further momentum. It has been decided that Volkswagen itself will erect the buildings and infrastructure for the joint venture’s “Northvolt Zwei” factory that is to produce lithium-ion battery cells, in order to leverage synergies at the Salzgitter site – based on the existing Center of Excellence for Battery Cells. Some €450 million is to be invested in this project. The joint venture will then rent the factory space. Battery cell production at the plant is scheduled to commence in early 2024 with an initial production capacity of 16 gigawatt hours.
Volkswagen remembers end of war 75 years ago: a day of liberation and warning
With a minute’s silence at its Wolfsburg plant, Volkswagen is today remembering the end of the Second World War in Europe on May 8,1945. On behalf of the company and its workforce, Arne Meiswinkel, Head of Group HR Policy and Steering, Bernd Osterloh, Group Works Council Chairman, and Plant Manager Dr. Stefan Loth laid white roses on the stone of remembrance for the victims of forced labor at the former Volkswagenwerk GmbH.
Personnel changes in the Quality organization of the Group and the Volkswagen brand
Frank Moser is the new Head of Group Quality. He is currently Head of Corporate Quality at Porsche AG and will continue to hold this post when he succeeds Andreas Klar, who is retiring from the company under a retirement program, effective June 1, 2020. Christiane Engel, currently Plant Director at the Volkswagen Poznań plant in Września, also succeeds Andreas Klar – in his brand role – as Head of Quality Assurance at the Volkswagen Passenger Cars brand effective June 1, 2020. Stefanie Hegels takes over as Plant Director at the Volkswagen Commercial Vehicles plant of Volkswagen Poznań in Września effective June 1, 2020.
Volkswagen ID.3 wins leading industry design award
The Volkswagen brand dominated the Automotive Brand Contest 2020, securing a total of five awards in the automotive design segment. The ID.3, the all-electric model leading the brand into the future, was named “Best of Best” in no less than two categories. The new Golf and the ID. SPACE VIZZION concept car were also amongst this year’s award winners. The Automotive Brand Contest is the only independent, international design competition for automotive brands.
Jörn Hasenfuß to head Osnabrück plant
Jörn Hasenfuß, hitherto member of the Board of Management responsible for Procurement at Volkswagen Commercial Vehicles, has been appointed Speaker of the Management Board and Managing Director of the Technical Division of Volkswagen Osnabrück GmbH effective May 1, 2020. In his role as Osnabrück plant manager, he succeeds Jörg Müller, who led Volkswagen Osnabrück GmbH since 2019 and is retiring from the company under a retirement program.
The TRATON GROUP prepares for the re-opening of the economy in a very challenging environment
In anticipation of a downturn in the market in Europe and due to the initial effects of the global corona pandemic, the TRATON GROUP recorded falls in unit sales, sales revenue, and operating profit in the first three months of 2020 and is now making preparations for the re-opening of the economy in a very challenging environment. Unit sales of the three brands MAN, Scania, and Volkswagen Caminhões e Ônibus contracted by 20% to 46,000 (prior-year level: 57,200) vehicles in the first three months of the year. With unit sales down 21% to 42,000 (53,000) vehicles, the decline in truck sales was more marked than in buses, where a drop of 4% to around 4,000 (4,200) vehicles was recorded.
Volkswagen prolongs worldwide new vehicle and extended warranties by three months
The Volkswagen Passenger Cars brand is extending the warranty period for new vehicles by three months. This applies to all vehicles produced in Europe or for the European market with a two-year new vehicle warranty or an extended warranty that expires between March 1, 2020 and May 31, 2020. The prolongation is valid for three months after the expiry of the original new vehicle or extended warranty.
Volkswagen Brand – First-quarter sales revenue and profit down on previous year due to impact of Covid-19
Volkswagen Passenger Cars experienced a substantial impact on its business in the first three months of 2020 due to the Covid-19 pandemic. Despite a solid start to the year, deliveries to customers by the core Volkswagen brand decreased by around 25 percent to 1.1 million vehicles over the January to March period of 2020. In the same quarter, sales revenue fell by some EUR 2.6 billion (-11.9 percent) to around EUR 19 billion. The core brand’s operating profit remained positive. Standing at around EUR 481 million, it fell by 50 percent in comparison to the previous year’s figure before special items. The operating return on sales in the first quarter of 2020 was 2.5 percent (4.3 percent in previous year before special items).
Volkswagen launches the all-new T-Roc Cabriolet
The new T-Roc Cabriolet is on its way to dealerships just in time for spring. Volkswagen’s first convertible crossover links the best of both the convertible and the SUV world by combining driving pleasure with usefulness and striking design. Elements including the rollover protection system and a reinforced windscreen frame are designed to ensure maximum safety. The new convertible is now available at Volkswagen dealerships, in Germany the model will be available from a basic price of €27,495.
Volkswagen steps up development of Industrial Cloud
The Volkswagen Group is forging ahead with the integration of its plants into the Volkswagen Industrial Cloud. The aim is to further improve the efficiency of the plants and reduce production costs. The first three plants were already linked up in 2019. “In 2020, we intend to bring 15 further plants into the Cloud,” says Gerd Walker, Head of Production of the Volkswagen Group. Work on the project also continued consistently while production was suspended during the coronavirus crisis. “We are making good progress and significantly forcing the pace,” says Roy Sauer, Head of Enterprise & Platform Architecture of the Volkswagen Group. From 2016 to 2025, Volkswagen intends to boost the productivity of its plants by 30 percent and “our Industrial Cloud will be a key lever for achieving this objective,” says Walker. All in all, the Group expects cost savings totaling several billion euros when the data of all 124 plants can be evaluated in a standardized way. The Industrial Cloud is built on Amazon Web Services (AWS), and Siemens is the integration partner.
Volkswagen Group’s business substantially impacted by Covid-19 pandemic in first quarter
The Volkswagen Group recorded a substantial impact on its business as a result of the global Covid-19 pandemic following the first three months of the current fiscal year. Deliveries to customers decreased by 23.0 percent compared to the same period of the previous year to 2.0 (2.6) million vehicles. Sales revenue fell by 8.3 percent from January to March to EUR 55.1 (60.0) billion. Operating profit before special items decreased significantly by 81.4 percent to EUR 0.9 (4.8) billion. In the previous year, special items as a result of the diesel crisis reduced profit by EUR –1.0 billion. There were no special items in the first quarter of 2020. The operating return on sales in the first quarter of 2020 was 1.6 percent (6.4 or 8.1 percent before special items). In addition to the fall in unit sales due to the drop in customer demand, turbulence in the commodity and capital markets caused the fair value measurement of commodity hedges to have a negative effect and also led to negative currency effects. Earnings before tax fell to EUR 0.7 (4.1) billion.
Together with its cultural partners Volkswagen is striking out into new creative online channels
Due to the corona crisis Volkswagen and its cultural partners have changed joint real-world events into digital formats. The respective second joint issues of the new online editions of Volkswagen ART4ALL together with the Kunstmuseum Wolfsburg and Hamburger Bahnhof – Museum für Gegenwart – Berlin have since moved to the Facebook and Instagram channels of the partners.
Create your ID.3: Volkswagen invites designers to take part in competition on Instagram
What might an electric vehicle such as Volkswagen’s new ID.3 look like in 30 years time? Will holograms replace controls inside the vehicle? Will the vehicle be driving around autonomously and how would the vehicle exterior have to be adapted to these demands? Today, on 27 April, World Design Day, Head of Volkswagen Group Design, Klaus Bischoff, will be launching a competition at Instagram @volkswagen_de. The task at hand: designing the ID.3 for 2050.
TRATON launches several corona crisis relief campaigns
The TRATON GROUP and its brands join the effort to overcome the corona crisis with targeted relief campaigns. TRATON will, for instance, support the “DocStop für Europäer e.V.” association, which provides for an improvement in medical care and working conditions for bus and truck drivers on the road. “Professional truck drivers have a hard enough job to do even in normal times,” said Andreas Renschler, CEO of TRATON and member of the Board of Management of Volkswagen AG. “The spread of the corona virus has made it even harder. This crisis has clearly demonstrated to us just how important supplies of medication and food are to us. We would not have access to them without road transportation. This is why I am really happy about the contribution we are making to help these truly system-relevant workers.”
Production at Volkswagen in Wolfsburg begins again today
The Volkswagen Passenger Cars brand resumed vehicle production at its Wolfsburg plant today with the early shift beginning at 6:30 a.m. Initially, Golf production will recommence on a one-shift basis — with reduced capacity and longer cycle times. Today, some 8,000 employees are returning to the production halls. Production of the Volkswagen Tiguan and Touran models as well as the SEAT Tarraco begins on Wednesday. Multi-shift operation is to get underway again the following week. At the same time, some 2,600 suppliers, the majority of them located in Germany, have resumed production for Volkswagen’s main plant. Measures to protect the health of the workforce have been significantly expanded.
Medical supplies for doctors and hospitals: More than 5 million masks have already arrived
Large quantities of the medical supplies which the Volkswagen Group has been organizing in China for doctors, care facilities and hospitals since the end of March are now arriving in Germany. About 5 million face masks have now been delivered and many of them have already been distributed. Over the next few days, many other consignments are expected, bringing the total number of equipment items to 13 million, in addition, 750,000 liters of disinfectant, which will be arriving from May onwards, have been ordered. The total value of the supplies being donated by the Volkswagen Group to support medical and care facilities is about €40 million. In addition, the Group is also organizing and delivering medical supplies ordered by the German government under a framework agreement with the Federal Ministry of Health. Further deliveries of several million masks are expected over the next few weeks. On Sunday afternoon, Bernd Althusmann, Minister of Economic Affairs of Lower Saxony, Gunnar Kilian, HR Board Member of Volkswagen, and the Chairman of the Group Works Council Bernd Osterloh welcomed an aircraft with a further consignment from China at Hanover airport. Among other items, this consignment included temperature scanners which are being donated by Volkswagen to the German government and the State of Lower Saxony, as well as masks ordered by the German government.
Zwickau vehicle plant resuming production of the ID.3 slowly and gradually
The Volkswagen plant in Zwickau is gradually restarting production of electric cars. Production of the all-electric ID.3 resumes today (Thursday), initially with reduced capacity and significantly slower cycle times. Numerous additional measures to protect the health of the workforce are being implemented, and the restart is also oriented to the gradual stabilization of international supply chains. “We all have a historic task to accomplish. That task is to protect the health of our employees - and at the same time get business back on track responsibly”, said Thomas Ulbrich, Volkswagen Brand Board Member for E-Mobility and Speaker of the Management Board of Volkswagen Sachsen.
Volkswagen supports its 40,000 suppliers with instructions for protective measures in production
In connection with the resumption of production, the Volkswagen Group has developed measures ensuring the maximum level of health protection for its employees and is now implementing them at its plants. In order to provide the best possible support for the resumption of production and logistics processes in the coronavirus crisis by its more than 40,000 suppliers and several hundred logistics contractors throughout the world, the Group is making its concepts available to them with immediate effect.
The brands of the TRATON GROUP are ready to ramp up their plants
The brands of the TRATON GROUP are gradually restarting production operations that have been shut down since mid-March. Following the shutdown of production, Scania Vehicles & Services will initially test the stability of its supply chain and its production line processes on two business days that will be carried out at a reduced tempo while adhering to health-protection requirements. Scania’s production sites in France and Brazil will begin to ramp up their operations a week later. MAN Truck & Bus will restart its bus and truck production step by step, beginning on April 27. Volkswagen Caminhões e Ônibus will put the assembly lines of its main plant in Resende, Brazil, back into operation beginning on April 27. The VWCO plant in Queretaro, Mexico, is scheduled to reopen on May 4.
Resumption of business by car dealerships: Volkswagen launches “JumpStart” program
The Volkswagen Passenger Cars brand has launched comprehensive online training for German car dealers in order to boost the resumption of business activities. About 70 percent of dealerships have now reopened. In addition to practical check lists for the implementation of the hygiene precautions required and new service offerings, dealers are also receiving specific tips on the use of digital tools and ideas for their social media channels. Volkswagen also offers customers attractive packages for.
TRATON SE announces preliminary Q1 2020 results
The ongoing Covid-19 pandemic still has a significant impact on TRATON GROUP's business. As a result, the production chains in the commercial vehicle industry has largely come to a standstill. Supplier bottlenecks led to extensive production stops within the TRATON GROUP.
Sally Perel – “Hitler Youth Solomon” celebrates 95th birthday
Sally Perel is celebrating his 95th birthday on April 21. Because of the coronavirus pandemic, he will be spending his special day alone at home in Givataim, near Tel Aviv (Israel). “Above all, I hope that I will be able to travel again soon,” said Sally Perel over the phone. He gained international fame through his autobiography “I Was Hitler Youth Solomon”. He is not content with doing nothing. Sally Perel is used to being on the road and meeting young people so that he can “vaccinate” them, as he says, at discussion events, to make them immune to nationalist, racist and anti-Semitic ideas.
Tiguan: Global bestseller breaks the six million mark and has been the best-selling Volkswagen in 2019
A global bestseller sets another new record: in spring 2020, the Volkswagen Tiguan broke the production barrier of six million units. A total of 910,926 units of the SUV were manufactured in 2019 alone. This makes the Tiguan the best-selling car in the Volkswagen brand and Group. The versatile vehicle is available to buy in 80% of all countries on earth. It is the most successful SUV on the market in Europe. The Tiguan is one of the three most popular sport utility vehicles in the world. Volkswagen produces the top-selling model in four time zones across three continents.
Volkswagen AG withdraws 2020 full-year outlook due to business impacts from covid-19 pandemic
The ongoing Covid-19 pandemic has also had a significant impact on Volkswagen Group’s business. As a result, the automobile retail network has largely came to a standstill. The resulting decline in customer demand and supplier bottlenecks led to production stops within the Volkswagen Group. The aforementioned developments have a negative impact on the expected financial results of the
Volkswagen Group.
Volkswagen starts with step-by-step resumption of production
The plants of the Volkswagen Passenger Cars brand are to successively restart production. First, production is to be resumed at the plants in Zwickau and Bratislava (Slovakia) in the week from April 20. The other plants in Germany and in Portugal, Spain, Russia and the USA are to restart production in the week from April 27. Subsequently, in the course of May, production will be resumed successively in South Africa, Argentina, Brazil and Mexico. Ralf Brandstätter, COO of the Volkswagen brand, said: “With the decisions by the federal and state governments in Germany and the loosening of restrictions in other European states, conditions have been established for the gradual resumption of production. Volkswagen has prepared intensively for these steps over the past three weeks. In addition to developing a comprehensive catalogue of measures for the protection of our employees’ health, we have also forged ahead with the re-establishment of our supply chains.” On this basis, short-time working is to continue at the Volkswagen plants in Germany. However, the number of employees affected by short time working will be successively reduced in line with the resumption of production.
Sharan serves as an office on wheels
People all over Europe are working from home, which can be complicated: They’re in a video conference team meeting, the phone starts ringing and children are yelling through the living room, all at the same time. Working from the car could be the best solution for anyone needing a few hours a day to concentrate on completing some tasks for their job in peace. As a result, the working environment is relocated to nearby places with a nice view.
Volkswagen and IG Metall successfully complete pay negotiations
Volkswagen and IG Metall have brought their negotiations for Volkswagen AG employees covered by the company collective agreement to a successful conclusion. As a result of the coronavirus crisis, the negotiations took place under extremely difficult conditions. The parties agreed that the pay agreement, which had been terminated with effect from April 30, 2020, should remain in force until the end of December 2020 without increases in the pay scales. The collective agreement has a term of eight months. In addition, support for employees was agreed so that they could master their everyday lives more effectively in the coronavirus crisis.
Market overview: Compact notchback models are one of Volkswagen’s key segments in China
European customers love compact hatchback models like the Golf, which has spent over four decades at the top of the vehicle registration statistics. In contrast, the world market is dominated by compact notchback models. Worldwide, they account for almost one third of all deliveries to Volkswagen brand’s customers – with 1.6 million vehicles sold in China alone. A total of six models are offered there to satisfy the high demand. A market overview of the notchback vehicles sold exclusively on the Chinese market gives a detailed insight into the differences between models.
Tanner Foust is a Volkswagen R brand ambassador
Who is Jason Bourne? This question lies at the heart of the popular film series of the same name. While Bourne is played by Hollywood superstar Matt Damon, it is Tanner Foust in the role of the fictitious secret agent in many of the films’ spectacular driving scenes. As a brand ambassador, Foust represents Volkswagen R around the world.
Volkswagen Group China: Clear signs of business recovery
Volkswagen Group China’s operations are showing clear signs of business recovery. All 2,000 Volkswagen brand dealerships are now open again, with showroom traffic during the last weekend of March comparable to the same period last year. Over 95% of the dealerships of the other locally producing brands Audi and ŠKODA have also reopened. The SAIC VOLKSWAGEN joint venture plant in Changsha also resumed operations this week. The total number of Group facilities that have resumed operations has thus risen to 32 of the 33 car and component plants.
Clear rules to protect employees
For the resumption of production at Volkswagen, health takes priority over speed. For this reason, company management and the General Works Council have laid down clear rules and measures for the protection of employees in a works agreement. Volkswagen HR Board Member Gunnar Kilian says: “We are taking comprehensive precautions so that our employees can work safely. We also appeal to each and every employee: continue to act in a disciplined way over Easter, keep your distance, stay at home and help to limit the spread of coronavirus. For Volkswagen, one thing is clear: the federal and state governments have our full support in their fight against coronavirus.” As regards the resumption of production, it has only been decided that a few units of Components, which have continued operation to some extent, will extend their operations to safeguard the supply of components to plants in China from the Tuesday after Easter. This will concern a total of 1,700 employees at the Brunswick, Kassel, Salzgitter, Chemnitz and Hanover Components plants. They will be informed by their line managers. Apart from these operations, production at the Components and vehicle plants continues to be suspended. Further details of the mode of operation are expected after Easter. The objective of the new works agreement is to take precautions against coronavirus at an early stage in order to prevent infections. Production processes are being optimized and consistent minimum distances and strict hygiene standards will apply in all areas. Where minimum distances of 1.5 meters are not possible, all employees will receive appropriate protective equipment.
Corona pandemic: Volkswagen donates one million euros for immediate aid and emergency relief in refugee camps
The Volkswagen Group is donating one million euros for immediate aid and emergency relief for refugees in Syria, Turkey and Greece menaced by the corona pandemic. The funds will be given to the German Red Cross (DRK), which is organizing and implementing support locally together with the national Red Cross and Red Crescent organizations.
Volkswagen Group safeguards customer mobility with supply of genuine parts
Even during the coronavirus crisis, the Volkswagen Group continues to ensure supplies of genuine parts. In Germany, more than 95 percent of the about 3,500 service stations remain open so that customers can stay mobile. Throughout the world, about 60 percent of the 25,000 service stations remain active. The Original Parts Center in Kassel ensures that genuine parts for repair work reach the workshop rapidly despite coronavirus. The order level is around one third of the normal volume. In these activities, the top priority is to protect the health of employees and suppliers at Kassel. At the Genuine Parts Center, comprehensive measures have been taken to ensure adequate distances between the employees concerned and compliance with the appropriate hygiene requirements. This also includes reducing the number of people working on logistics operations at any time by about one half. At the service stations themselves, health protection is also the top priority. Many businesses offer customers the possibility of handing over and collecting their vehicle without any direct contact with service personnel.
Flexible quick charging stations launch in China
Volkswagen Group Components and the start-up Shanghai DU-POWER New Energy Technical Co., Ltd. plan to work together to produce flexible quick charging stations in China. An agreement to this effect was signed by representatives from both companies in Suzhou, China. Series production of the flexible quick charging stations is currently scheduled to start in the second half of 2020. Establishing production with a local partner is a key step in the rapidly growing electric vehicle market.
Volkswagen with virtual motor show for the first time
Following the cancellation of this year’s Geneva International Motor Show, the VW brand show stand can now be visited online. Starting today, visitors can experience all the new models of the brand for two weeks round the clock from their own homes at https://www.volkswagen.de/de/specials/geneva-2020.html. The 360° tour offers an interactive digital experience allowing visitors to immerse into the show. They can stroll across the booth, view vehicles from all sides and also change colors and wheel rim configurations using easy-to-use functions.
75 years ago: US troops liberate Volkswagen plant and city on Mittellandkanal
75 years ago, on April 11, 1945, US troops liberated the Volkswagen plant and the city then known as “Stadt des KdF-Wagens” which was later named Wolfsburg to the south of Mittellandkanal. At the Volkswagen plant, about 7,700 forced laborers were freed. Over the eight weeks that followed, the Americans made groundbreaking decisions for the future of the people, the city and the plant. The brief but marked intermezzo of US military rule laid the foundations for democracy, freedom and reconstruction in the region. In May, the plant was already producing vehicles – Kübelwagen for the U.S. Army, which were then called “Volkswagen Jeeps”. The American occupation ended at the end of June 1945 when the region became part of the British occupation zone.
Touareg V8 TDI with extra-low NOx emissions tested by Emission Analytics: 75 per cent below Euro 6 limit
Volkswagen has launched a new range of very clean diesel engines (TDI) on the market. The TDI engines are characterised by extremely low nitrogen oxide emissions (NOx) and thus come in far below the Euro 6 NOx limit of 80 mg/km. The Touareg V8 TDI, generating 310 kW (421 PS), is among the first Volkswagen to feature an exhaust purification system that filters nitrogen oxides at this low level: it emits between just 10 and 20 mg/km. The NOx values were determined on the basis of RDE measurements (Real Driving Emissions) in actual road traffic by independent specialist of Emissions Analytics.
Coronavirus: Volkswagen uses 3D printing to produce face shields
In response to the corona crisis, the Volkswagen Group has started to produce face shield holders by 3D printing. This is part of a joint transnational initiative with Airbus and the 3D printing network “Mobility goes Additive”, which includes about 250 companies. The products developed by Airbus will be used in Spain and will be flown from Hamburg to Madrid by Airbus, next week. This cross-industrial initiative was launched in response to requests from the Spanish authorities, which will also distribute the products in the country. The aim is to make as many holders as possible by then. In addition, there are a number of other initiatives by Volkswagen Group brands to produce medical supplies.
CrossFit: The world’s most diverse workout meets all-round performance
Volkswagen R has a new brand ambassador: World-class athlete Sara Sigmundsdottir is now representing Volkswagen’s sporty brand around the world. The Icelandic CrossFit star authentically embodies values like performance and versatile abilities.
Volkswagen extends suspension of production
The Volkswagen Passenger Cars brand, Volkswagen Commercial Vehicles and Volkswagen Group Components are extending the suspension of production at their German plants for a further five working days especially as a result of the continued fall in demand for vehicles and the challenges still faced by the supply chain. For a total of about 80,000 employees of Volkswagen AG, it is planned to end the resulting short-time working with the night shift of April 19 to 20. The plants affected are Dresden, Emden, Osnabrück, Wolfsburg and Zwickau as well as the Volkswagen Commercial Vehicles plant in Hanover, the plants of Volkswagen Group Components at Brunswick, Kassel, Salzgitter, Chemnitz and Hanover and the German plants of SITECH. At the same time, the company continues to prepare intensively for the resumption of production. In this context, the protection of employees will once again be significantly strengthened.
Increasing demand for electric mobility in Germany: Significant growth for e-up! and Passat GTE
Volkswagen is focussing on stepping up electric mobility and is significantly expanding its range of fully electric models and hybrids. Even before the launch of the new ID.3 this summer, the demand for electric mobility has considerably increased in Germany: already every second order for the up! model series is for the fully electric version, around 20,000 orders have been received. The GTE versions of the current Passat generation have also become increasingly more popular amongst buyers: Every seventh customer now opts for the plug-in hybrid (PHEV).
First consignment of medical supplies for hospitals and doctors has arrived from China
On Saturday, the Minister-President of Lower Saxony, Stephan Weil, and the HR Board Member of Volkswagen, Gunnar Kilian, took delivery of a first consignment of face masks from China in Brunswick. The Volkswagen Group is organizing medical equipment with a total value of about €40 million in China which will then be made available to doctors and hospitals in Germany. The supplies are to be delivered as soon as possible. The products or-dered include face masks, gloves, disinfectants, clinical thermometers, protective goggles and protective clothing. The first consignment, which arrived on Saturday, consisted of 400,000 face masks, 240,000 for medical facilities throughout Germany and 160,000 for hospitals and doctors in Lower Saxony. The distribution of the equipment is to be organized by public bodies.
Volkswagen postpones Annual General Meeting 2020
Volkswagen has decided to postpone the Annual General Meeting of Shareholders for fiscal year 2019 due to the spread of coronavirus (SARS-CoV-2) and the measures in connection with containing the virus. Group CFO Frank Witter said: “The health of our shareholders, employees and service providers has top priority. For that reason, we will be arranging a new date for the Annual General Meeting originally scheduled for May 7.”
Volkswagen releases medical personnel with full pay for voluntary work in the public health service
Volkswagen AG is releasing employees with medical qualifications for up to 15 working days with full pay if they volunteer for work in the public health service. The target group includes medical practitioners and paramedics of various categories as well as nursing and surgery personnel working at the German facilities of Volkswagen AG. In addition to people working in these areas for Volkswagen, employees with appropriate qualifications who work as paramedics on a voluntary basis, for example, will also be released if the need arises.
TRATON SE postpones Annual General Meeting due to coronavirus outbreak
The Executive Board of TRATON SE has decided to postpone the Annual General Meeting for fiscal year 2019, previously scheduled for May 28, 2020, due to the strong spread of the coronavirus.
Volkswagen extends suspension of production
The Volkswagen Passenger Cars brand, Volkswagen Commercial Vehicles and Volkswagen Group Components are extending the suspension of production at their German plants for four working days especially as a result of the continued fall in demand for vehicles and the challenges faced by the supply chain. An application for an extension of short-time working for a total of 80,000 employees of Volkswagen AG has been submitted. It is planned to end short-time working with the night shift of April 9 to 10. The plants affected are Dresden, Emden, Osnabrück, Wolfsburg and Zwickau as well as the Volkswagen Commercial Vehicles plant in Hanover, the plants of Volkswagen Group Components at Brunswick, Kassel, Salzgitter, Chemnitz and Hanover and the German plants of SITECH. At the same time, the company is preparing intensively for the resumption of production. In this context, the protection of employees will once again be significantly strengthened.
Volkswagen Group supports doctors and hospitals with major donation of medical supplies from China
To ensure supplies for doctors and hospitals in Germany, the Volkswagen Group is organ-izing medical materials in China in the short term. The total value of the goods to be donated by the Group is about €40 million. The equipment – in-cluding face masks, gloves, disinfectants, clinical thermometers, protective goggles and protective clothing – is to be made available to medical personnel providing emergency treatment and care. Last week, Volkswagen had already donated about 200,000 FFP-2 and FFP-3 face masks for public health protection.
Volkswagen brand offers dealers extensive liquidity support
Together with Volkswagen Bank, the Volkswagen Passenger Cars brand has created a comprehensive package of measures to strengthen the liquidity of its dealers. In addition to offering extended payment deadlines, temporary increases in credit lines and improved interest conditions, bonuses and incentives are to be brought forward and audits are to be suspended.
TRATON generated good results in 2019 amid increasingly challenging market conditions
The TRATON GROUP increased both sales revenue and operating profit during the challenging year of 2019 and is now preparing to meet emerging economic challenges and the impact of the coronavirus pandemic. The brands of the TRATON GROUP have temporarily closed a number of plants in response the pandemic. MAN Truck & Bus filed an application for short-time work (Kurzarbeit) for workers in its German plants today. “In this crisis, the commercial vehicles industry will play an important role in the provision of food and medication to people,” said Andreas Renschler, TRATON CEO and member of the Board of Management of Volkswagen AG.
Volkswagen Group donates protective face masks
The Volkswagen Group will be providing about 200,000 category FFP-2 and FFP-3 protec-tive face masks for public health protection in the near future. The donation is being made in close cooperation with Federal Minister of Health Jens Spahn. The city of Wolfsburg is also to receive further medical material.
Technical milestone in road safety: experts praise Volkswagen’s Car2X technology
The new Golf can help drivers to prevent accidents, thanks to its innovative Car2X technology, allowing it to wirelessly connect with other vehicles and the traffic infrastructure. The Euro NCAP consortium gave special recognition to the traffic hazard alert function with the Advanced Award for ground-breaking safety fea-tures. The German automotive association ADAC tested the new technology and declared it a “technical milestone”.
Brands of the TRATON GROUP take action as a result of the corona pandemic
In response to the corona pandemic, the European brands of the TRATON GROUP will temporary close several plants in Europe and request temporary unemployment assistance (so called “Kurzarbeit”) to support its workers in Germany during the shutdown. “It is becoming harder and harder to supply our plants due to the spread of the coronavirus in Europe,” said Andreas Renschler, CEO of TRATON and member of the Management Board of Volkswagen AG. “Because we also want our workforce to remain healthy, we will significantly slow production or temporarily halt it completely. At the same time, we are doing everything we can to keep service and replacement parts flowing to our customers. Supporting overland transportation and thus the delivery of food and medication has rarely been as critical as it is today. We as one of the largest commercial vehicle manufacturers in Europe hold a special responsibility in this unprecedented situation.”
Volkswagen brand suspends production on Thursday due to corona crisis
The Volkswagen Passenger Cars brand is gradually suspending production at its European plants. This will also affect Volkswagen Group Components plants. This is the brand's response to the impending rapid decline in demand on the automotive markets. Risks in connection with suppliers’ supply chains are also increasing. This is due to the significantly accelerated rate of infection by coronavirus and the resulting measures taken by the authorities. Initially, the factories are therefore expected to remain closed for two weeks. For the affected German sites, the measures are to apply from the end of the late shift on Thursday.
Volkswagen Group and its brands bring 2019 to successful conclusion
The Volkswagen Group brought fiscal year 2019 to a successful conclusion with improved financial results in almost all brands. Dr. Herbert Diess, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, said, “2019 was a very successful year for the Volkswagen Group. We have laid vital groundwork for all relevant changes. 2020 is a very difficult year. The corona pandemic presents us with unknown operational and financial challenges. At the same time, there are concerns about sustained economic impacts. We will succeed in overcoming the corona crisis by pooling our strengths and with close cooperation and high morale in our Group.”
ID.3: just as inexpensive as a car with an internal combustion engine
With the market introduction of the ID.3 this summer, Volkswagen will make e-mobility affordable for many people. The basic version of the ID.3 will be less expensive in Germany in terms of acquisition and operation than comparable internal combustion models. As regards operating expenses alone, ID.3 drivers in Germany will save about €840 per year. “With the ID.3, the electric car will finally become affordable. This model is entirely fit for everyday use and even costs less than an internal combustion model thanks to the environmental bonus,” says Thomas Ulbrich, Member of the Board of Management of the Volkswagen brand responsible for E-Mobility. Currently, preparations for the delivery of the ID.3 are well underway. “The time schedule will be met,” Ulbrich confirms. ”The ID.3 will be introduced to the market in the summer, as announced.”
Volkswagen AG annual media conference 2020
The Volkswagen AG annual media conference will be broadcasted live on Tuesday, March 17th 2020, from 09:00am – 11:30am CET (08:00am GMT – 10:30am GMT)
Volkswagen pays performance-related bonus of €4,950
For 2019, the employees of Volkswagen AG covered by collective bargaining agreements are to receive a performance-related bonus of €4,950 gross. The CEO of Volkswagen AG, Dr. Herbert Diess, and the Chairman of the General Works Council, Bernd Osterloh, praised the team performance of Volkswagen employees last year.
The new T-Roc Cabriolet – refreshingly different
At some point in March motorists begin to feel the urge to take to the roads in a convertible. Volkswagen has recently added a lifestyle-oriented version to its range – the T-Roc Cabriolet will celebrate its official market launch in German dealerships from March 20th onwards. In the run up to the big day, Volkswagen is providing comprehensive information material, photos and footage at www.volkswagen-newsroom.com.
Students from seven nations: Volkswagen starts the second generation of Faculty 73
On March 2, 2020, 100 students started their “Faculty 73” qualification program at the AutoUni. During a full-time two-year course, they will be trained as junior software developers for the automotive industry. The Volkswagen Group Academy launched its innovative concept with the first generation of students beginning of March 2019 and is doubling the number of students in 2020 up to two generations. The third generation is due to start on September 1, 2020 and internal and external IT talents can apply for a place on the courseup to March 8 2020.
Volkswagen presents Green Finance Framework
With the Green Finance Framework (GFF), the Volkswagen Group today presented further guidelines for sustainable financial instruments. In future, it will therefore be possible for investors to invest in a targeted fashion in sustainability projects of the Volkswagen Group such as e-mobility. A new corporate body, the Green Finance Committee, will select appropriate projects and can adapt the GFF to reflect changing requirements. Furthermore, regular reporting will ensure transparency in the use of funds. The objective is to ensure independent external verification of the use of funds.
Volkswagen mobilizes fans at the UEFA EURO 2020™: Shirt is also ticket for e-scooters, bicycles and more
The countdown has started: The opening game of UEFA EURO 2020 will begin 100 days from tomorrow in Rome. For the first time, the European football championship will be held in twelve different countries. As the official mobility partner of the tournament (June 12 to July 12), Volkswagen is giving fans Mobility Shirts in the locations where games are played. With their striking design, the shirts not only look cool, they also mobilize the wearer.
Volkswagen provides first insights into its new all-electric compact SUV ID.4
The ID. CROZZ showcar evolves into its series production version, the ID.4: Volkswagen is forging ahead with its electric mobility strategy by providing a detailed insight into the brand’s first all-electric SUV during a webcast following the cancellation of the Geneva Motor Show. The new ID.4 will be launched this year. Following in the tracks of the ID.3, the countdown has already begun for the second model based on the new modular electric drive matrix (MEB). “Just like the ID.3, the ID.4 will also come onto the market as a carbon-neutral vehicle”, explains Ralf Brandstätter, Chief Operating Officer of the Volkswagen brand. “We will produce and sell the ID.4 in Europe, China and the U.S..”
Volkswagen webcast from Wolfsburg
Volkswagen will present a webcast on Tuesday, March 3rd, 2020, from 09:10 until 09:25 am CET (08.10 am GMT – 08:25 am GMT) and will show its innovations.
Following the cancellation of the Geneva Motor Show, Volkswagen will be presenting its innovations as part of an online stream
Volkswagen welcomes the decision of the Geneva State Council to cancel this year’s Geneva Motor Show. This is a decision in the interests of the health and safety of all participants and employees. As an alternative to the originally scheduled press conference on Tuesday, March 3rd, at 9.10 am, the Volkswagen brand will showcase its automotive innovations in an online stream.
TRATON seeking to execute a squeeze-out of the non-controlling shareholders of MAN SE in accordance with merger law
Commercial vehicle producer TRATON SE (TRATON) intends to merge MAN SE (MAN) with TRATON in order to simplify the TRATON GROUP’s overall structure. In connection with this merger, TRATON plans to execute the procedure for transferring the shares held by the non-controlling shareholders of MAN to TRATON in consideration of payment of an appropriate cash settlement (squeeze-out in accordance with merger law). Consequently, the Executive Board of TRATON has today served on the Executive Board of MAN a proposal to commence negotiations for a merger agreement as well as a formal request to initiate proceedings for the execution of a squeeze-out in accordance with merger law.
Audi with enhanced role in Volkswagen Group
Volkswagen AG is enhancing the role of Audi in the Group. To that end, Audi headed by its new CEO Markus Duesmann will take over the lead for research & development in the brand alliance. Furthermore, Ingolstadt is to be the organizational focus of the Car.Software organization. In the context of more efficient steering, Volkswagen AG plans to take over the 0.36 percent of Audi free-float shares. Volkswagen AG is currently the majority shareholder, holding approx. 99.64 percent of the subscribed capital of AUDI AG.
Human Resources concludes structural reform
The Human Resources Board of Management function at Volkswagen has completed its new leadership team lineup, thus rounding off the structural change initiated at the beginning of 2020. Under the new arrangements, Human Resources is aligning its processes, workflows and responsibilities to future HR work. Gunnar Kilian, Volkswagen Group Board Member for Human Resources, commented: “E-mobility, connectivity and digitalization will have a lasting effect on the world of work. More than ever, teamwork, an open error culture, a keenness to discuss and take decisions, a high level of integrity and compliance are crucial factors. HR is shaping and driving the change, supporting the technical departments as they make the transformation, and taking the workforce on board. We have realigned the structure at HR in order to perform these tasks effectively.”
Volkswagen Group with positive business performance in 2019
The Volkswagen Group has completed fiscal year 2019 successfully. Sales revenue in-creased by EUR 16.8 billion to EUR 252.6 billion and operating profit before special items rose to EUR 19.3 (17.1) billion. At 7.6 (7.3) percent, the operating return on sales before special items slightly exceeded the forecasted range for 2019. Operating profit also improved to EUR 17.0 (13.9) billion. Negative special items in connection with diesel decreased to EUR 2.3 (3.2) billion. In the Automotive Division, net cash flow increased markedly to EUR 10.8 (-0.3) billion, with net liquidity reaching EUR 21.3 (19.4) billion. Board of Management and Supervisory Board propose an increase of the dividend to EUR 6.50 (4.80) per ordinary share and EUR 6.56 (4.86) per preferred share. This would raise the payout ratio to 24.5 (20.4) percent.
vzbv and Volkswagen agree on a fair settlement solution in the declaratory model action
The Federation of German Consumer Organisations (vzbv) and Volkswagen today reached agreement on the negotiated settlement of €830 million in connection with the class-action suit. The agreement was made possible on the initiative of the president of the Higher Regional Court of Braunschweig.
World premieres of sports car icons in Geneva: new Golf GTI, Golf GTE and Golf GTD
Three Golf versions, three characters, three efficient drive systems – one design and equipment philosophy. We are approaching the world premieres of the new Golf GTI, Golf GTD and Golf GTE at the Geneva Motor Show (5 to 15 March 2020). 44 years ago Volkswagen invented the Golf GTI, a sports car icon. It was followed in 1982 by the first Golf GTD and in 2014 by the first Golf GTE featuring plug-in hybrid drive.
In brief: The all-rounder – the 1-speed gearbox
The ID.3 from Volkswagen enters the new era of e-mobility – quietly but with full power. After all, the typical properties of the electric drive system change the way in which power is transmitted. The powerful APP310 e-drive unit transmits power to the driven wheels using an extremely compact gearbox. The ID.3’s single gear is able to cope with all driving situations. The mechanism used has only a small number of cogs. This 1-speed gearbox is part of the electric drive system for the modular electric drive matrix (MEB) and is manufactured by Volkswagen Group Components at the Kassel plant. But why is a single gear enough for the drive motor?
Hybrid world premiere in Geneva: the new Touareg R
Volkswagen ramps up its hybrid campaign in 2020: with the world premiere of the new Touareg R at the Geneva Motor Show (5 to 15 March 2020), the brand’s top-of-the-range model now also features a plug-in hybrid drive. The Touareg R with a power output of 340 kW (462 PS) offers an innovative blend of superlative performance and electric efficiency. When the battery is sufficiently charged, the new SUV always starts in electric E-MODE for zero emissions. The all-round talent can be driven at up to 140 km/h using electric power; above this speed, the turbocharged V6 petrol engine (TSI) supplements the electric drive motor. The Touareg R will cover most commuter distances fully electrically.
TRATON starts cooperation on cybersecurity and AI with RISE
TRATON and the Research Institutes of Sweden (RISE) will start a long-term cooperation that will initially focus on cybersecurity and Artificial Intelligence (AI). TRATON and RISE have therefore signed today a Memorandum of Understanding (MoU) that will serve as a platform for a long-term and strategic relationship. As the first step, the cooperation will concentrate on cybersecurity and AI, but the project portfolio will be flexible over time. “Innovation is an important pillar of our Global Champion Strategy. The cooperation with RISE will foster our development of new competences on very important technologies,” says Christian Levin, TRATON Board member responsible for R&D and Chief Operating Officer.
The eighth generation of an icon: World première of the new Golf GTI in Geneva
World première with impact: When Volkswagen launched the first Golf GTI 45 years ago at the International Motor show (IAA) in Frankfurt, no one could have guessed that the three letters G, T and I would go on to identify an icon. But that is exactly what happened. Anyone referring to GTI today is talking about an icon: the Golf GTI. Now Volkswagen is presenting the eighth generation of this worldwide success at the Geneva International Motor Show from 5 to 15 March. This marks the launch of a pure, intelligent and superior high-tech sports car for the digital age.
Volkswagen shows pioneering rural mobility study as contribution to major exhibition in New York
Volkswagen is delighted to show an e-mobility project developed by Volkswagen Group Innovation and Volkswagen Group South Africa. A study of an electric tractor developed in and for Africa to facilitate small-scale agriculture and to increase the productivity of subsistence farmers while also improving power supply and mobility in sub-Saharan Africa. This study is shown for the first time within the exhibition Countryside, The Future at the Solomon R. Guggenheim Museum in New York.
Volkswagen and partner association agree new sales model for ID. family in Germany
Volkswagen and “Volkswagen und Audi Partnerverband” (Volkswagen and Audi partner association) have agreed a new sales model for the all-electric ID. family in Germany. A format similar to the agency model for major customers that has already proven its worth over many years will also apply for ID. models sold to private customers and small commercial enterprises. Following the go-ahead from retail partners, the agency agreement is to be added to the new dealer contracts that come into effect from April.
Class-action suit: Volkswagen offers settlement solution
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.
World première at Geneva Motor Show: First glimpse of the new Golf GTD
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.
Volkswagen looking for IT talents for third generation of Faculty 73
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.
New, innovative solution for ultra-fast charging electric vehicles
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.
Wolfsburg plant is investing heavily in digital solutions
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.
Volkswagen to sell RENK shares to Triton
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 Proposes To Acquire All Outstanding Common Shares Of Navistar For USD 35 Per Share
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.
Season-opener: Volkswagen Classic showcases Italian elegance in Bremen
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.
R Experience Ice: Perfect drift near the Arctic Circle
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.