Volkswagen AG
States are spending billions on electric vehicles in battle to replace automotive capital Michigan
For as long as there has been an auto industry, Michigan has been its epicenter. But now, the industry is making clear that it is not bound by tradition. The move to electric vehicles — rapidly accelerating as the price of fossil fuels rises and battery technology improves — is easily the biggest shakeup in […]
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Volkswagen CEO says EV outlook is ‘very good,’ expects to reduce delivery times this year
An ID. Buzz stands during a plant tour of the production of the ID. Buzz in quality control at the Volkswagen Commercial Vehicles plant in Hanover, Germany, June 16, 2022. Ole Spata | Picture Alliance | Getty Images The CEO of German automotive giant Volkswagen sought to assuage concerns about electric vehicle sales and semiconductor […]
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VW and Goldman-backed battery maker Northvolt gets $1.1 billion funding injection
Northvolt’s most recent funding announcement comes at a time when major economies are laying out plans to move away from vehicles that use diesel and gasoline. Mikael Sjoberg | Bloomberg | Getty Images Electric vehicle battery maker Northvolt on Tuesday announced a $1.1 billion funding boost, with a range of investors — including Volkswagen and […]
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Goldman says buy these global stocks to play a $900 billion EV opportunity — and names one with over 50% upside
A new European battery ecosystem could be in the cards, as the region seeks to be a leader in the global shift to electric vehicle adoption, according to Goldman Sachs . The bank names the key stocks along the battery value chain that it thinks could benefit from “Europe’s largest industrial transformation.” The bank estimates […]
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Tencent wants to be foreign automakers’ go-to company for tech in China’s electric car market
BMW’s iX electric SUV in China was the first global car brand to include the automobile version of Tencent’s WeChat messaging app, according to the Chinese tech company. Tencent BEIJING — Chinese internet giant Tencent wants to sell technology which the company says will help foreign automakers that want to sell cars in China’s massive electric vehicle market. BMW and some […]
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Toyota issues recall for its flagship electric SUV following concerns about wheels coming off
Toyota’s bZ4X electric sport utility vehicle photographed in Chiba Prefecture, Japan, on Feb. 24, 2022. The Japanese automotive giant has issued a safety recall related to the bZ4X’s wheels. Kiyoshi Ota | Bloomberg | Getty Images Japanese automotive giant Toyota issued a safety recall for more than 2,000 of its all-electric SUV, the bZ4X. Announced […]
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BYD is selling so many electric cars it’s become one of the top three automakers in China
One of BYD’s bestselling electric car models, the Han, is on display during an auto show in Shenzhen on June 5, 2022. Anadolu Agency | Anadolu Agency | Getty Images BEIJING — Chinese electric car maker BYD saw sales more than double in May, solidifying the company’s climb into the ranks of the top three […]
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Latest Shanghai quarantines add more pressure to global supply chain
Staff members of China Post unload parcels of daily necessities for residents quarantined at home from a minivan on May 14, 2022 in Shanghai, China. Tian Yuhao | China News Service | Getty Images The mass quarantine measures imposed this past weekend in Shanghai, including highway closures, severely affected trucks carrying exports bound for the […]
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QuantumScape promised a revolutionary EV battery. Here’s why investors are still waiting
A solid-state battery development lab for QuantumScape. QuantumScape The electric vehicle space has seen a handful of impressive stock market debuts in recent years, but battery start-up QuantumScape’s first few weeks of trading were remarkable even by EV stock standards. QuantumScape, which was founded in 2010, went public via a merger with a special-purpose […]
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Croatian EV supercar maker Rimac raised 500 million euros to make parts for Big Auto rivals
Rimac Group, the Croatian company best known for its 1,900 horsepower Nevera electric sports car, said it has raised 500 million euros (about $537 million) from investors including Goldman Sachs, Porsche and a technology fund advised by Japan’s SoftBank. The new funding round values Rimac at over 2 billion euros. Rimac made headlines last year […]
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