Volkswagen AG
‘We see a big recession in the making’: Top CEOs are fearing the worst in Europe
Top European CEOs are fearing a euro zone recession as a confluence of economic shocks continues to threaten the outlook for the bloc. Alex Kraus | Bloomberg | Getty Images LONDON — The CEOs of several European blue chip companies have told CNBC that they see a significant recession coming down the pike in Europe. […]
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Volkswagen is prolonging its use of coal due to Russian energy ‘threat’
Covering an area of 6.5 million square meters, VW’s huge manufacturing facility in Wolfsburg uses two cogeneration plants that provide it with heat and power. Krisztian Bocsi | Bloomberg | Getty Images The CEO of Volkswagen told CNBC Wednesday that the German automotive giant was keeping its options open in terms of how it powers […]
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Robotaxis haven’t taken over the streets, but that doesn’t mean self-driving cars are all hype
It’s 2022. We were supposed to have robotaxis by now. What happened? Source
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Top autos CEO warns of battery supply scarcity as EV competition heats up
In 2021, Volvo Cars said it planned to become a “fully electric car company” by the year 2030, a move which will require it to have a consistent and secure supply of batteries for its vehicles. Peerapon Boonyakiat /SOPA Images | LightRocket | Getty Images The new CEO and president of Volvo Cars has predicted […]
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These global stocks look cheap after falling over 20% — and analysts love them
These buy-rated stocks look to be trading at a sharp discount and could be primed for big returns going forward. Source
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Many factory workers in Shanghai can’t get back to work, even after Covid controls ease
Tesla’s Shanghai factory was “back up and running” as of Wednesday, according to CEO Elon Musk’s comments during a quarterly earnings call, per a StreetAccount transcript. This picture shows the factory on the outskirts of Shanghai in July 2021. Vcg | Visual China Group | Getty Images BEIJING — Foreign businesses are struggling to bring […]
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How Russia’s war is cutting global auto production
Russia’s invasion of Ukraine has led auto industry watchers to cut production and sales forecasts for the next two years. The crisis has shuttered factories in Eastern Europe, and caused spikes in the prices of already precious raw materials. Some factories in Ukraine have tried to keep going amid the invasion. Workers have reportedly had […]
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China’s lockdowns are a greater threat to inflation today than in 2020, Bernstein says
China’s automobile and component exports more than doubled in 2021 from a year ago, exceeding 30% growth in China’s exports overall, Bernstein analysts found. Yi Fan | Visual China Group | Getty Images BEIJING — China’s latest Covid lockdowns are a greater risk for global inflation today than they were in 2020, Bernstein analysts said. […]
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Chinese EV maker Nio says it’s gradually resuming production after Covid halt
In February 2020, Nio got a lifeline of financing support led by the government of Hefei city, where the electric car start-up has established its China headquarters. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car company Nio said Thursday it is gradually resuming production at a facility several hours’ drive west […]
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Stay defensive with these global stocks amid market volatility, analysts say
HSBC, Credit Suisse and UBS name their top defensive stock picks. Source
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