German carmakers Volkswagen and Audi are considering allowing some combustion engine models to run longer in Europe, the Handelsblatt business news outlet reported on Thursday citing sources.
India's demand for back taxes running into a record $1.4 billion from Volkswagen, after 12 years of scrutiny, is reigniting concerns that lengthy investigations and litigation could sour the plans of foreign firms in the fastest-growing major economy.
India has accused South Korea's Kia of evading taxes of $155 million by misclassifying component imports but the carmaker has denied wrongdoing, the latest fight by a foreign automaker with New Delhi over tariffs, according to a document and two sources.
French software group Dassault Systemes on Tuesday announced a long-term partnership with Volkswagen to accelerate the German carmaker's transition towards software defined vehicles.
Volkswagen is counting on talks to avoid trade conflict, Europe's biggest carmaker said on Sunday, after U.S. President Donald Trump ordered tariffs on goods from Mexico, Canada and China.
Volkswagen has sued Indian authorities to quash an "impossibly enormous" tax demand of $1.4 billion, arguing the ask is contradictory to New Delhi's import taxation rules for car parts and will hamper the company's business plans, court papers show.
The big test for Volkswagen will come in 2026, when it tries to play catch-up in electric vehicles with four models. And Germany's rally looks like it has legs.
Concerns are growing among Volkswagen's board members that sweeping cuts agreed with unions late last year will not be enough to turn around the struggling carmaker's core brand, the Handelsblatt business daily reported on Thursday.
German carmaker Volkswagen is considering setting up production sites in the United States for its high-end Audi and Porsche brands to avert fallout from tariffs threatened by President Donald Trump, Handelsblatt reported on Wednesday.
Volkswagen and its Chinese partners have discussed the possibility of them investing in plants in Germany, VW Chief Executive Oliver Blume told Reuters at a conference on Tuesday, after Reuters reported that Chinese investors were interested in buying up German factories.
Volkswagen Group (XETRA:VOW) is prepared to share production facilities with Chinese rivals in an attempt to offer a slump in car demand, its chief executive has said. Gernot Döllner told the FT that deals with Chinese electric car companies are “thinkable.
Volkswagen will need to make additional investments in the United States to hit its target of doubling market share in the country, its CFO Arno Antlitz said on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland on Thursday.