BYD is a powerhouse in China and sells the most electric vehicles of any company in the world. Now it has a plan to attract buyers in Europe’s largest economy.
Tag Archives: Volkswagen AG
Tesla Bulls Take Heart From Strong Profits
Shares in the electric carmaker continued to rally after the company reported strong profits, even amid growing competition and economic pressures.
Tesla Investors Fear for a Tough 2023
A huge sell-off wiped billions of dollars from the electric carmaker’s market capitalization on Tuesday. Analysts see more trouble ahead.
Russia’s Economy Is Threatened by War and Sanctions
While Russia’s economy has not collapsed, an exodus of Western companies is eroding hard-won progress, and experts say the worst may be yet to come.
Electric Vehicles Start to Enter the Car-Buying Mainstream
While sales are still skewed toward affluent buyers, more people are choosing electric vehicles to save money.
E.V. Bonanza Flows to Red States That Denounce Biden Climate Policies
No Republican in Congress voted for the Inflation Reduction Act. But their districts and states will greatly benefit from the investments spurred by the law.
Electric Car Sales Climb Sharply Despite Shortages
A scarcity of semiconductors and raw materials held back production, but buyers remain enthusiastic.
Icons of Italian Automotive Style Struggle to Go Electric
Ferrari and Lamborghini are trying to design battery-powered cars that inspire the same devotion as their costly internal combustion models.
The Unapologetic Heirs of Nazi Fortunes
In a country that is celebrated for its culture of reckoning and remembrance, the richest families are often an exception.
China’s Covid Lockdowns Set to Further Disrupt Global Supply Chains
A surge in Omicron variant infections has prompted Chinese authorities to lock down residents, close factories and stop truck traffic, snarling already frayed supply chains.
Porsche Taycan and Audi e-Tron GT: An Electric Family Tree
The two cars share some corporate technology but stand out in different ways. Another trait they share? Price tags mostly in six figures.
How Russia’s Invasion of Ukraine Could Reshape Trade, Starting With Cars
The war in Ukraine has highlighted the risks of doing business with authoritarian countries — not just Russia, but also China.
Russia Ties May Hurt Thousands of European Companies
European companies that have operations in Russia are preparing for collateral damage as Western sanctions aim to penalize Russia’s economy.
Ship Carrying 1,100 Porsches and Other Luxury Cars Is Burning and Adrift
A fire broke out Wednesday morning in the cargo hold of the ship, which departed from Emden, Germany, on Feb. 10 and was due to arrive in Davisville, R.I., on Wednesday.
Why This Could Be a Critical Year for Electric Cars
Booming in a depressed market, battery-powered vehicles are a plus for the climate but pose a big threat to carmakers and parts suppliers that are slow to change.
Sales of Electric Vehicles Surpass Diesel in Europe, a First
The popularity of battery-powered cars is soaring while the overall auto market stagnates, a worldwide trend.
Why Tesla Soared as Other Automakers Struggled to Make Cars
The yawning disparity between the performance of the electric car company and established automakers last year reflects the technological change roiling the industry.
Volkswagen C.E.O. Herbert Diess Sets Sights on Beating Tesla
Herbert Diess, the chief executive, seeks to cast VW as a dynamic, modern company, but his style risks the ire of its powerful works council.
How Leather Seats in Luxury SUVs Fuel Amazon Deforestation
An examination of Brazil’s immense tannery industry shows how hides from illegally deforested ranches can easily reach the global marketplace. In the United States, much of the demand for Brazilian leather comes from automakers.
Collectors Who Caught the Bug
Volkswagen’s original Beetle, cute and petite, still thrills aficionados.
The IAA Mobility Show Tries to Reimagine the Auto Show
Europe’s first big auto industry event in two years is an attempt to reverse declines in attendance and adapt to new technology.
Biden’s Electric Car Plans Hinge on Having Enough Chargers
The United States has about 100,000 public chargers, far fewer than Europe and China. It needs 10 times as many, auto experts say, to complete the switch from combustion engine vehicles.
How Biden’s E.V. Plan Could Help Tesla and Squeeze Toyota
A push to increase sales of electric vehicles favors companies that already have all-electric cars on the market and could penalize those that don’t.
Volvo, Daimler, Traton invest $593 million to build electric truck charging network
Volvo Group, Daimler Truck and Volkswagon’s AG heavy-truck business the Traton Group announced on Monday a non-binding agreement to build a network of high-performance public charging stations for electric heavy-duty long-haul trucks and buses around Europe. The news was first reported by Reuters.
The three major European automakers will invest €500 million (~$593 million USD) to install and operate 1,700 charging points in strategic locations and close to highways. They intend to finalize the agreement by the end of this year and start operations next year, with the hopes of increasing the number of charge points significantly as the companies seek additional partners for the future joint venture.
The venture is meant to be a catalyst to prepare for the European Union’s goals of carbon-neutral freight transportation by 2050. One of the main deterrents for both individuals and freight companies for switching to EVs has historically been a lack of charging infrastructure. By building that infrastructure, Volvo, Daimler and Traton can also expect to boost their own sales of electric trucks and buses.
“It is the joint aim of Europe’s truck manufacturers to achieve climate neutrality by 2050,” Martin Daum, CEO Daimler Truck, said in a statement. “However, it is vital that building up the right infrastructure goes hand in hand with putting CO2-neutral trucks on the road. Together with Volvo Group and the TRATON GROUP, we are therefore very excited to take this pioneering step to establish a high-performance charging network across Europe.”
The partnership between Volvo and Daimler isn’t unprecedented. In May, the two competitors teamed up to produce hydrogen fuel cells for long-haul trucks to lower development costs and boost production volumes. This latest venture is another signal that major companies are banding together to solve climate-related issues in the industry.
European car industry association ACEA has called for up to 50,000 high-performance charging points by 2030. Traton CEO Matthias Gruendler told Reuters that roughly 10 billion euros would be needed to build out Europe’s infrastructure to be fully electrified by 2050.
According to a statement released by Volvo, this venture is also a call to action for others with a stake in the industry, like automakers or governments, to work together to ensure the rapid expansion needed to reach climate goals.
The charging stations will be brand-agnostic, and battery electric vehicle fleet operators will be able to use both the fast charging during the European 45 minute mandatory rest period for long-distance transport and also charge overnight.
The joint venture will operate under its own corporate identity out of Amsterdam. Volvo, Daimler and Traton will own equal shares in the venture but will continue to compete in all other areas.
E.V. Buying Guide: What to Know About Models, Batteries, Charging and More
Buying an electric car can be exciting and bewildering. Consider what kind of car you want and need and where you will charge.
Three Electric S.U.V.s With Tesla in Their Sights
Test-driving Volkswagen’s ID.4, Ford’s Mustang Mach-E and Volvo’s XC40 Recharge: The green turf where Tesla has dominated for so long is poised to grow crowded.
Hot Hatchbacks: Party in the Front, Business in the Back
The “hot hatch” concept — sporty but practical, with plenty of horsepower — is being swallowed by (what else?) S.U.V.s.
2 Korean Battery Makers Settle Dispute That Threatened Biden’s Green Agenda
The settlement between LG Energy Solution and SK Innovation ensures that a battery plant in Georgia will go forward without hampering electric vehicle production.
Biden’s Push for Electric Cars: $174 Billion, 10 Years and a Bit of Luck
The president is hoping to make electric vehicles more affordable to turn a niche product into one with mass appeal.
How Volkswagen’s Sins Fueled Its Redemption
In the aftermath of a diesel scandal five years ago, executives made a commitment to electric vehicles that now is paying off.
Volkswagen Aims to Use Its Size to Head Off Tesla
The German carmaker outlined ambitious goals to build battery factories as it ties its fate to electric cars.
How To Buy an Electric Car
Even before G.M. announced it would work toward eliminating emissions from its vehicles, more automakers were putting E. V.s in their showrooms. Here’s a roundup.
The Auto Industry Bets Its Future on Batteries
Carmakers, government agencies and investors are pouring money into battery research in a global race to profit from emission-free electric cars.
G.M. Announcement Shakes Up U.S. Automakers’ Transition to Electric Cars
Every carmaker is trying to figure out how to make the leap before governments force it and Tesla and other start-ups lure away drivers.
Tesla Might Finally Have Some Competition. From Ford.
Traditional automakers have struggled to sell electric cars. That could change as Ford, Volkswagen and others introduce new models.
Lack of Tiny Parts Disrupts Auto Factories Worldwide
Carmakers can’t buy the semiconductors they need because home electronics are taking all the supply.
German Automakers Are Charged Up and Ready to Take on Tesla
As Tesla completes a factory in Berlin, Mercedes-Benz and Audi are introducing electric cars in bids to defend their dominance of the luxury market.
How VW’s Diesel Settlement Is Changing Fleets, From Schools to Seaports
A scandal led to a $2.9 billion trust fund for states to put cleaner vehicles on their roads. A lot of the money has gone to more diesel vehicles.
Prosecutors Target Ex-Audi Chief in First VW Emissions Trial
Rupert Stadler is accused of continuing to sell cars with illegal software even after Volkswagen’s cheating scandal came to light.
The Age of Electric Cars Is Dawning Ahead of Schedule
Battery prices are dropping faster than expected. Analysts are moving up projections of when an electric vehicle won’t need government incentives to be cheaper than a gasoline model.
Daimler to Settle U.S. Emissions Charges for $2.2 Billion
The agreement is a small fraction of the sum that Volkswagen paid after admitting to emissions cheating in 2015.
In Electric Car Market, It’s Tesla and a Jumbled Field of Also-Rans
Most traditional carmakers are struggling to produce and market electric vehicles even as Tesla sells hundreds of thousands of its luxury models.
My Other Car is a…Mercedes Camper Van?
The bustling R.V. business gets a jolt from a ritzy new Mercedes-Benz rig.
U.S. Ruling Could Mean a Flood of New Claims Against Volkswagen
Judges on Monday cleared the way for counties to pursue the automaker, which has already paid more than $20 billion in federal penalties for cheating on pollution tests, under local laws.
‘Horrified’ and ‘Ashamed’: Volkswagen Apologizes for Ad
The German car company withdrew an online ad that attracted criticism for its racist images.
Volkswagen Settles Emissions Charges Against Two Managers
The German carmaker will pay a relatively modest fine to resolve criminal cases involving the chairman and chief executive. They were accused of not warning shareholders about a looming scandal.
European Car Sales Fall the Most in Decades, Signaling Slump
Some automakers plan to restart factories on Monday, but are likely to face a dearth of buyers.