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VW is on a solid footing, CEO Blume says

BERLIN  -- Volkswagen Group CEO Oliver Blume said at an extraordinary general meeting on Friday that the group was on solid footing, with his first hundred days spent on tasks including reshuffling senior roles, defining the automaker's…

Tesla wants to build 1 million cars in Europe

BERLIN -- Tesla plans to drill for new water sources to supply an expansion of its electric vehicle plant near Berlin, according to local authorities and water associations, the latest move by the automaker to speed up German bureaucracy.…

Gotion, PTT Group set battery JV in Thailand

SHANGHAI -- Volkswagen-backed Chinese battery maker Gotion High Tech will partner with PTT Group in the production and export of battery modules and packs in Thailand, the Chinese company said in a Shenzhen filing on Thursday. Gotion's…

Elon Musk sells $3.6B worth of his stake in Tesla

Elon Musk, who lost his No. 1 spot on Bloomberg’s ranking of the world’s richest people this week, unloaded Tesla stock for the fourth time this year. Tesla’s CEO sold almost 22 million shares for $3.58 billion, a filing showed late…

Ford, China’s CATL mull U.S. battery plant

The Treasury Department is scheduled to issue guidance finalizing the content requirements and tax credits of the IRA by the end of this month. ‘Still deliberating’ “CATL is still deliberating on investing in the U.S. and we have not made…

1 dead in shooting at Forvia plant near Detroit

A shooting Wednesday at an automotive supplier plant near Detroit left one man dead, according to police. An argument among employees began Wednesday morning inside the Forvia plant in Highland Park, Mich., before spilling out into the…

2023 Audi Q8 E-tron gets a big range boost

BRUSSELS — In a major makeover, the Audi E-tron is getting a new name, a new look and substantial improvements that address what was considered its major drawback when it launched in 2018 as Volkswagen Group's first modern electric…

Russia’s car market turns to China for revival

“The automotive industry has seemingly become a leading indicator for the Russian economy, as it reacted most quickly to the changed economic conditions,” said Olga Belenkaya, economist at Finam. Still, “there is no certainty that a bottom…

Mahindra to invest $1.2 billion in new EV plant

BENGALURU - Indian automaker Mahindra and Mahindra Ltd. said on Wednesday it would invest 100 billion rupees ($1.21 billion) to set up an electric vehicle (EV) manufacturing plant near the western city of Pune, about 90 miles Southeast of…

VW Group promotes Audi, Porsche execs to top roles

Volkswagen Group has appointed new bosses for the automaker's quality and design divisions to speed up decision-making and improve coordination between the VW, Audi and Porsche brands. Effective Jan. 1, Michael Neumayer will be in charge…