Latest Volkswagen AG News

Coronavirus cancels plan for new Volkswagen plant in Turkey

Jul. 1, 2020 9:44 AM EDT

BERLIN (AP) — German automaker Volkswagen said Wednesday it is halting plans for a new factory in Turkey, saying that the steep drop in demand for cars worldwide caused by the coronavirus pandemic means the manufacturing capacity is no longer needed. The 1.3 billion euro ($1.4 billion) plant in Manisa on...

FILE - In this Thursday, April 25, 2019 file photo, Markus Braun, CEO of financial services company wirecard, attends the earnings press conference in Munich, Germany. Prosecutors in Germany say that the former CEO of the payments company Wirecard has been arrested in an accounting scandal that centers on a missing sum of 1.9 billion euros, or 2.1 billion dollars. Markus Braun resigned on Friday after the company disclosed that auditors couldn't find accounts containing the money.(AP Photo/Matthias Schrader, file)

Wirecard goes bust as scandal puts focus on German oversight

Jun. 25, 2020 8:41 AM EDT

FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate...

FILE - In this Thursday, April 25, 2019 file photo, Markus Braun, CEO of financial services company wirecard, attends the earnings press conference in Munich, Germany. Prosecutors in Germany say that the former CEO of the payments company Wirecard has been arrested in an accounting scandal that centers on a missing sum of 1.9 billion euros, or 2.1 billion dollars. Markus Braun resigned on Friday after the company disclosed that auditors couldn't find accounts containing the money.(AP Photo/Matthias Schrader, file)

Wirecard scandal puts spotlight on German company regulation

Jun. 24, 2020 4:34 PM EDT

FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate...

This photo combo shows the logo for Volkswagen, left, and Ford.  Ford and Volkswagen will work together to develop a small city van, a larger cargo van, a small pickup truck and an electric vehicle as part of their global alliance announced in 2019. The companies on Wednesday, June 10, 2020,  announced some details of what the venture will yield, with the city van created by VW and a 1-ton cargo van engineered by Ford to be sold by both companies.  (AP Photo/Markus Schreiber, file)

Ford, VW to collaborate on vans, pickup, electric vehicle

Jun. 10, 2020 8:25 AM EDT

DEARBORN, Mich. (AP) — Ford and Volkswagen will each offer a small city van, a larger cargo van, a small pickup truck and an electric vehicle as part of their global alliance announced last year. The companies announced some details of what the venture will yield Wednesday, with the city van created by VW...

FILE - In this file photo dated Monday, Sept. 9, 2019, CEO of Volkswagen Herbert Diess introduces the new VW ID.3 at the IAA Auto Show in Frankfurt, Germany.  The German automaker Volkswagen said Monday June 8, 2020, that CEO Herbert Diess is giving up managing the company’s core VW brand in order to concentrate more on the group as a whole. (AP Photo/Michael Probst, FILE)

Volkswagen CEO Herbert Diess giving up managing VW brand

Jun. 8, 2020 3:56 PM EDT

BERLIN (AP) — Volkswagen's CEO is giving up managing the company's core VW brand in order to concentrate more on the group as a whole, the German automaker said Monday. Herbert Diess, whose image had been tarnished in the fallout from the company's diesel-emissions scandal, will be replaced as head of the...

Former Audi boss faces trial in September in diesel scandal

Jun. 8, 2020 10:23 AM EDT

BERLIN (AP) — The former head of Volkswagen's luxury division, Audi, is set to go on trial at the end of September on fraud charges related to the company's diesel emissions scandal. The state court in Munich said Monday that the trial of Rupert Stadler and three others is to open on Sept. 30, news agency...

Commuters wear face masks to protect against the coronavirus as they walk through a subway station in Beijing, Tuesday, May 26, 2020. With declining virus case numbers, students have gradually returned to class and some international schools in Beijing are preparing to reopen on June 1. China's ceremonial parliament is meeting this week, with social distancing and other anti-virus measures being used. (AP Photo/Mark Schiefelbein)

German companies flying 200 workers to China in mass return

May. 26, 2020 9:09 AM EDT

BEIJING (AP) — A flight carrying about 200 employees of German companies to China is to arrive Saturday in the first mass return of foreign workers since Beijing barred most visitors from overseas two months ago to fight the coronavirus. The employees obtained visas under a “fast track”...

FILE - In this Tuesday, Feb. 25, 2020 file photo, a worker completes an electric car ID.3 body at the assembly line during a press tour at the plant of the German manufacturer Volkswagen AG (VW) in Zwickau, eastern Germany.  Germany's Federal Court has ruled Volkswagen must buy back cars from owners who bought vehicles rigged to cheat in emissions tests but consumers must accept current value taking into account the mileage they drove rather than the full purchase price. (AP Photo/Jens Meyer, file)

German court ruling clears the way to settle VW diesel cases

May. 25, 2020 9:45 AM EDT

KARLSRUHE, Germany (AP) — A German court has ruled that Volkswagen must buy back cars from owners of its diesel cars equipped with software that evaded emissions testing — but consumers must accept the current value of the car based on the mileage they drove since buying it, not the purchase price....

Tennessee puts $5.7M from VW settlement into bus projects

May. 21, 2020 2:52 AM EDT

NASHVILLE, Tenn. (AP) — Tennessee officials are using $5.7 million from the Volkswagen diesel emissions scandal settlement for transit bus replacements in three cities. The Tennessee Department of Environment and Conservation announced Wednesday that the funding will go to the Chattanooga Area Regional...

FILE - In this Friday, April 13, 2018, file photo, Herbert Diess, right, CEO of the Volkswagen, and Hans Dieter Poetsch, left, chairman of the board of directors of Volkswagen address the media during a press conference in Wolfsburg, Germany. Volkswagen said charges of securities-law violations against its CEO and board chairman are to be dropped in return for a 9 million-euro ($10 million) payment, removing a potential distraction for the company's management team as it copes with the virus crisis and oversees the rollout of a new generation of electric cars. (AP Photo/Michael Sohn, File)

Securities case ended against Volkswagen CEO, board chairman

May. 20, 2020 12:39 PM EDT

FRANKFURT, Germany (AP) — Volkswagen said charges of securities-law violations against its CEO and board chairman are to be dropped in return for a 9 million-euro ($10 million) payment, removing a potential distraction for the company's management team as it copes with the virus crisis and oversees the...