Volkswagen AG

Volkswagen AG engages in the production and sale of passenger cars and light commercial vehicles. The firm also develops vehicles and components for the brands of the group. It operates through following segments: Passenger Cars and Light Commercial Vehicles, Commercial Vehicles, Power Engineering, and Financial Services. The Passenger Cars and Light Commercial Vehicles segment includes the development of vehicles, engines and vehicle software, the production and sale of passenger cars and light commercial vehicles, and the corresponding genuine parts business. The Commercial Vehicles segment covers the development, production, and sale of trucks, and buses, and the corresponding genuine parts business and related services. The Power Engineering segment deals with the development and production of large-bore diesel engines, turbomachinery, and propulsion components business. The Financial Services segment involves dealer and customer financing, leasing, banking, insurance, and fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

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Volkswagen AG engages in the business of developing vehicles and components for the brands of the group. It operates through the following segments: Passenger Cars and Light Commercial Vehicles; Commercial Vehicles; Power Engineering; and Financial Services. The Passenger Cars and Light Commercial Vehicles segment includes developing vehicles, engines, and vehicle software; producing and selling passenger cars and light commercial vehicles; and the corresponding genuine parts business. The Commercial Vehicles segment focuses on trucks, buses, corresponding genuine parts business, and related services. The Power Engineering segment is involved in large-bore diesel engines, turbomachinery, and propulsion components business. The Financial Services segment provides dealer and customer financing, leasing, banking, insurance, and fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

Porsche Automobil Holding SE

Porsche fell more than 5% Tuesday after luxury car maker slashed future sales and profit outlook, citing an unexpected aluminum alloy supply shortage.

Porsche slips 5% after lowering profit outlook over alloy shortage

Automotive and auto-adjacent shares took a hit on Tuesday after copping a knock-on effect from a Porsche AG (ETR:P911) profit warning. Porsche warned that supply shortages of certain aluminium alloys due to production facility floodings will cause a multibillion-euro hit to full-year revenues and narrower profit margins.

Auto stocks Dowlais, Aston Martin fall following Porsche profit warning

Volkswagen Group (XETRA:VOW)-owned luxury carmaker Porsche AG (ETR:P911) has issued a profit warning a day after announcing it is ditching its 2030 electric vehicle sales targets. Porsche is “currently affected by a significant supply shortage with regard to special aluminium alloys” following a flooding at a production facility, it said in a statement.

Porsche issues profit warning due to production facility flooding

Shares of sportscar maker Porsche slumped on Tuesday after a profit warning, which the group blamed on a supply shortage of specialist aluminum alloys.

Porsche warns on profits due to aluminum shortage

Shares in automaker Porsche fell on Tuesday after the company cut its 2024 outlook. Porsche said various suppliers were affected by a shortage of special aluminium alloys.

Porsche shares fall 5% after automaker cuts 2024 outlook on aluminium alloy shortage

When Volkswagen Group last month invested $5 billion in U.S. electric truck-and-SUV maker Rivian , the startup's shares soared on the cash infusion.

Volkswagen is reeling in China. Can EVs help it grow in the US?

Luxury niche players and automakers with significant EV volume have higher sales multiples compared to traditional automakers transitioning. Porsche AG's underperformance in the stock market can be attributed to a buy-the-rumor, sell-the-news pattern. Porsche's valuation is lower than Tesla and Ferrari due to its commercial strategy and potential challenges ahead, but the brand's value provides optionality for future success.

Porsche's Options: Luxury Heritage Vs. Premium Mass-Market Growth

Porsche on Tuesday lowered its sales forecast for the year to between 39 billion and 40 billion euros ($43.56 billion) and warned of impairments in production spurred by a supply shortage of aluminium alloys impacting various suppliers.

Porsche adjusts FY outlook, warns of impairments due to alloy supply shortage

XPeng

XPeng (XPEV) American depositary receipts (ADRs) surged on Monday after it said it would co-develop electrical/electronic (E/E) architecture with Volkswagen for the latter's electric vehicles (EVs) produced in China.

XPeng Jumps on Technology Collaboration With Volkswagen in China

Luxury carmaker Porsche expects the transition to electric vehicles to take longer than it thought, it said on Monday, having previously said its aim was for 80% of sales to be all-electric by 2030.

Porsche waters down EV ambitions, says transition will take 'years'

Porsche has abandoned its target for 80% of sales to be electric by 2020. Instead, the VW-owned luxury car maker will see how electric vehicle sales develop around the world.

Porsche the latest to dump EV target as sales stall

ON Semiconductor

The chip maker will provide advanced silicon carbide microchips for Volkswagen to use in next-generation electric vehicles.

ON Semi Stock Is Rising. A Volkswagen Deal Makes EVs Better.

German carmaker Volkswagen Group (XETRA:VOW) has expanded its partnership with Chinese EV firm Xpeng Inc (NYSE:XPEV) XPeng, via a new master agreement, secures its technology partnership with VW with the new agreement envisaging the first EV with a new tech architecture to start production in 24 months. Specifically, the tie-up see a collaboration on the development of a electrical/electronic (E/E) architecture for vehicles produced in China, based on Volkswagen's China Main Platform (CMP) and Modular Electric Drive Matrix (MEB) platform.

Volkswagen deepens ties with Chinese EV firm XPeng

Chinese electric vehicle (EV) maker Xpeng said on Monday it has established a project house in partnership with German automaker Volkswagen AG for engineers to accelerate the development process of new architecture for EVs.

Xpeng, Volkswagen set up project house to roll out new EV architecture

XPENG and the Volkswagen Group will jointly develop industry-leading E/E Architecture for all locally produced vehicles based on Volkswagen's China Main Platform (CMP) and Modular Electric Drive Matrix (MEB) platform The first vehicle equipped with the jointly developed E/E Architecture will SOP (Start of Production) within approximately 24 months Both parties will actively explore further collaboration opportunities to expand the scope of the usage of the jointly developed E/E Architecture GUANGZHOU, China, July 22, 2024 (GLOBE NEWSWIRE) -- XPeng Inc. (the “Company” or “XPENG”) and the Volkswagen Group are pleased to announce today that, further to XPENG's announcement dated April 17, 2024 (the “Announcement”) in connection with the framework agreement on technical collaboration with respect to electrical/electronic architecture (“E/E Architecture”), XPENG and the Volkswagen Group have entered into a Master Agreement on E/E Collaboration (“Master Agreement”) which solidifies both parties' commitment to jointly develop industry-leading E/E Architecture for all locally produced vehicles based on Volkswagen's China Main Platform (CMP) and Modular Electric Drive Matrix (MEB) platform. The execution of the Master Agreement not only signifies the expeditious joint development of E/E Architecture in China by the parties but also paves the way for potential expansion of collaboration on E/E Architecture.

Master Agreement on E/E Architecture Technical Collaboration With Volkswagen Group

Volkswagen's CEO discussed free and fair trade, the global economy and technology in meetings with China's industry and commerce ministers on Friday, according to statements by ministries and VW.

VW CEO talks trade, tech with Chinese ministers in Beijing

Volkswagen's CEO Oliver Blume talked about framework conditions for the use of technologies like AI and autonomous driving as well as the importance of free and fair trade in a meeting on Friday with Chinese government ministers, Volkswagen said.

Volkswagen CEO: discussed free trade, global economy, AI with Chinese ministers

Stuttgart, July 18, 2024 (GLOBE NEWSWIRE) -- The Porsche Panamera has redefined the luxury sedan segment. It combines a high level of driving comfort with the properties of a Porsche sports car in a unique way. Now two charismatic new variants have been added to the model range. These are cars with different priorities: the Panamera GTS is a dynamic sports sedan that places a particular emphasis on the emotional driving experience. The Panamera Turbo S E-Hybrid is positioned at the very top of the model range as the most powerful, fastest and most luxurious derivative. This top model is the new record holder in the official ranking of the fastest combustion engine and hybrid luxury sedans on the Nürburgring Nordschleife.

The 2025 Porsche Panamera Turbo S E-Hybrid and Panamera GTS

Mercedes-Benz Group AG

Stellantis N.V. 

Serbia will give Mercedes-Benz , Volkswagen and Stellantis the opportunity to purchase lithium for car batteries as the nation prioritises European over Chinese carmakers, its president said.

Serbia eyes lithium deals with Mercedes, Stellantis, VW, president says

Stuttgart, July 16, 2024 (GLOBE NEWSWIRE) -- Porsche has expanded the model range for its first all-electric SUV. The nimble new rear-wheel-drive Macan is joined by the Macan 4S, which will slot in between the existing Macan 4 and the Macan Turbo. Like the two other models introduced at the start of 2024, the 4S is equipped with the electronically controlled Porsche Traction Management (ePTM) system, which distributes the drive power between the front and rear axles around five times faster than a conventional all-wheel-drive system.

Porsche expands the model range for the all-electric Macan

Traton is one of the leading truck and bus manufacturers in the world, with brands such as Scania, MAN, Navistar and VW Truck & Bus. Since its spin-off from Volkswagen, Traton has greatly improved its profitability, closing the gap with the industry leaders. Traton already released its Q2 sales, and we can use this information to make a forecast of what the upcoming earnings report may look like.

Traton's Q2 Earnings: A Turnaround Play At A Crossroads

Volkswagen (VWAGY) contemplates the closure of an Audi plant in Brussels due to weak demand for the Audi Q8 e-tron.

Volkswagen (VWAGY) Mulls Closure of Audi Plant in Brussels

QuantumScape

QuantumScape (NYSE: QS ) stock is surging higher by over 25% after the company announced that it had reached an agreement with battery company PowerCo, which is wholly owned by Volkswagen (OTCMKTS: VWAGY ). The agreement notes that PowerCo will be able to utilize QuantumScape's technology platform to mass produce batteries once QuantumScape accomplishes “technical progress and certain royalty payments.

QS Stock Alert: QuantumScape Soars as Volkswagen Doubles Down on Batteries

QuantumScape Corp. said Thursday it has inked a deal with Volkswagen Group's PowerCo. aimed to mass produce electric-vehicle battery cells based on QuantumScape “solid state” battery technology.

QuantumScape, Volkswagen's battery-making unit hammer a new deal in ‘solid state' quest

Volkswagen will massively ramp up production of solid-state batteries developed with U.S. startup QuantumScape , both companies said on Thursday, as the German carmaker aims to bring the technology into more vehicles.

News for Volkswagen AG Stock (VWAGY)