By William Boston BERLIN--Volvo Cars Chief Executive Hakan Samuelsson said
Monday that the lower-than-expected valuation of the company’s initial public...
In the race to build a cheaper and longer-range electric car, auto companies are
pouring more money into the technology, which has long been considered a
moonshot.
Volkswagen, one of the world’s two largest auto makers by sales, could be the
world’s biggest maker of electric vehicles as soon as next year—but making a
cost-effective EV battery is a challenge.
Global auto makers who had expected the semiconductor supply crisis to subside
in the spring are now warning that chips will remain scarce for months while a
second-half recovery is fraught with uncertainty.
The car maker is not swapping a ‘k’ for a ‘t’ to rename its U.S. subsidiary
“Voltswagen of America” as an earlier press release had indicated, the company
said, calling the announcement an April Fools’ joke.
Europe is buying electric vehicles at a record pace and has overtaken China as
the world’s biggest EV market. But some worry the trend will be short-lived.
A German court ordered former Volkswagen CEO Martin Winterkorn to stand trial on
charges of defrauding customers in a case that could shed new light on one of
Germany’s largest corporate scandals.
The surprise changes that stripped Chief Executive Herbert Diess of some of his
core responsibilities on Monday revealed a deep rift between the manager and the
company’s owners and workers.
Electric-car maker Tesla pulled off opening a car factory in China with
breakneck speed, sending the company’s shares to record heights. Speed bumps
await the planned construction of a plant in Germany.
In a rare industrialization success story for the continent, some of the largest
car makers have been transforming North Africa into the world’s newest
car-manufacturing cluster.