VW brand says profitability drive faces EV, emissions testing cost risks

17 March, 2018, 01:52 | Author: Sheri Evans
  • Germany Diesel investment

By 2025, the VW Group intends to build up to three million electric vehicles annually across brands including Audi, Porsche, Skoda and Volkswagen.

In 2018 alone, the company is set to add nine new vehicles to its portfolio, which now boasts eight e-cars and plug-in hybrids. The German automaker is likely to equip 16 more firms in manufacturing electric cars by 2022 in addition to the existing three automotive manufacturers it has under its umbrella.

"Over the last few months, we have pulled out all the stops to implement "Roadmap E" with the necessary speed and determination", Muller said in a statement, referring to Volkswagen's electrification plan.

Brazilian human rights activist Marielle Franco assassinated
The AP reports two men fired nine shots into a vehicle carrying Franco and driver Anderson Pedro Gomes, who were both killed . An emergency decree was put into place to combat rising crime as the military took over Rio de Janeiro's security.

Volkswagen shares are trading higher Tuesday, as the German auto maker announced plans to expand its electric vehicle production levels.

Today, the company revealed that it will increase its electric vehicle production capabilities by opening 16 new factories across the world by 2022. Its goal is to sell 3,000,000 electric cars a year by 2025. This was announced by Matthias Müller, CEO of Volkswagen AG, at the Group's Annual Media Conference in Berlin. The company will shortly launch it mass-market Model 3.

VW brand will launch its first new-generation EV, the I.D. hatchback, in 2020 followed at short intervals by other I.D. models including the I.D. Crozz SUV and I.D. Buzz minivan.

Tiger Woods makes strong start at PGA event at Bay Hill
The 42-year-old veteran hasn't won a tournament since 2013, but he is an eight-time victor at the Arnold Palmer Invitational. Tiger Woods had endured a torrid - to put it lightly - few years of late.

However, the company chief clarified that there would be no change in the production of vehicles running on conventional drive systems.

In 2015, Volkswagen was caught rigging cars to cheat on United States diesel emissions tests and paid more than 20 billion euro (£17.8 billion) in fines and legal settlements. "We are putting nearly Euro 20 billion into our conventional vehicle and drive portfolio in 2018, with a total of more than Euro 90 billion scheduled over the next five years", he added.

At the same time, however, the Wolfsburg-based group will pump more than 90 billion euros into traditional diesel, petrol and natural gas motors, with a new generation of internal combustion engines set for release next year. While Tesla spent $17.5 billion total in 2017 on battery materials, this one move easily eclipses Tesla's move and they have yet to even make a similar purchase agreement for North America.

Chandrababu Naidu orders TDP ministers' resignation from Modi Govt
Just before the crucial 2019 elections, the TDP has played its riskiest gamble by crossing swords with the BJP at the center. Chowdary called not giving Andhra Pradesh the special status was an "emotional issue".

Tesla is assuredly anxious at the moves Volkswagen is making as this will of course help drive cobalt prices globally and on a broader scale signals just how serious the Volkswagen group has become about electric vehicles.



Teddy Bridgewater Signs One-Year Deal With The New York Jets
He's been on the practice squad of four NFL teams since he entered the league as an undrafted free agent with the Vikings in 2016. ESPN's Adam Schefter first reported the two sides closed on an agreement and NFL Network broke the news on the value of the deal.

Tariffs lift hopes for jobs in United States mill towns
Trade Representative, is in charge of negotiating with countries appealing for exclusions; Ross is handling product exemptions. Vice President Jusuf Kalla said the country had the option of retaliating against imports of US soybeans, wheat and aircraft.

Question answered: 49ers trade Kilgore to Dolphins
Pouncey, 28, was signed through the 2020 season as part of a five-year extension he signed with the team in 2015. The 31-year-old sat out the final two contests of the 2017 season with an ankle injury.

When will the sales of Toys 'R' Us locations begin?
The company filed for bankruptcy protection in September and since then lackluster holiday sales and heavy debt has taken a toll. He added that he is also looking into buying as many as 400 USA stores, which he would seek to operate under the Toys R Us name.

Wilshere back for England as Southgate brings in three new faces
England will go up against the Netherlands and Italy later this month with the World Cup in Russian Federation edging closer. Joe Hart has Southgate nudes ready to expose. " Clearly the No 1 jersey is up for grabs ", said Southgate.

Meghan Markle would be 'petrified' in terrifying terror training
If Harry had failed to get the Queen's approval, he and his future descendants would have been disqualified from succeeding to the Crown .

Gonzaga's experience shows in victory over UNC
He's been front and center 2017-18, starting most of the season and averaging 12 points a game. The first four games in Dayton, Ohio, will be LIU-Brooklyn against Radford and St.

United Nations gets $100M for Palestinians but still short
Qatari representatives made the announcement at a Thursday meeting of UNRWA officials in Rome, according to the Qatar News Agency. Participants in Rome meeting to help fund the Palestinian refugee agency, but combined aid pledge falls $350m short.

At least 18 Pets Died On United Flights Last Year
United said Tuesday that it took full responsibility for the incident on the Monday night flight from Houston to NY . Of the 24 animals which died in the care of USA airlines previous year 18 were handled by United, the report said.

Google to pull the plug on all cryptocurrency ads
This means that the $233 million (USD) invested in these cryptocurrencies has led to no returns for investors. Once news of Google's new policy began making the rounds, cryptocurrency markets didn't react very favorably.