Streetbeat News

VLKAF

Volkswagen AG

https://www.volkswagenag.com/

Industry

Automobile Manufacturing

Open

93.05

Mkt cap

46B

Volume

150

High

93.05

P/E Ratio

3.62

52-wk high

165.46

Low

93.05

Div yield

0.10

52-wk low

84.82

Volkswagen plans to close at least three plants in Germany, reduce workforce, and cut pay due to competition in China and high production costs.

Portfolio Pulse from Benzinga Newsdesk

October 28, 2024 | 1:51 pm

Porsche SE has lowered its 2024 earnings forecast to a range of $2.4 billion to $4.4 billion, down from the previous estimate of $3.5 billion to $5.5 billion. This adjustment follows Volkswagen's revised sales and profit expectations for 2024.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 4:39 pm

Volkswagen reports that the worsening macroeconomic environment is negatively impacting its business. This could have implications for the automotive industry, including companies like Ford, General Motors, Stellantis, and Volkswagen's US-listed ADRs.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 4:38 pm

NIO Inc. has denied rumors of plans to take over the Audi Brussels car plant. Despite media reports of a NIO delegation visiting the plant, the company clarified it has no intentions to pursue such a takeover. NIO's shares are trading slightly lower in the premarket.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2024 | 12:42 pm

Volkswagen's CUPRA brand faces a crisis as the European Commission considers a 21.3% import tariff on its Chinese-manufactured electric SUV, the Tavascan. This could jeopardize CUPRA's financial future, EU carbon targets, and lead to job cuts in Spain.

Portfolio Pulse from Nabaparna Bhattacharya

September 04, 2024 | 5:23 pm

ON Semiconductor Corporation (NASDAQ:ON) has signed a multi-year agreement with Volkswagen Group (OTC:VLKAF, OTC:VWAGY) to supply advanced EV solutions, leading to a 3.06% increase in ON's stock price. The deal includes providing a power box solution for Volkswagen's next-generation traction inverter. ON Semiconductor's new silicon carbide plant in the Czech Republic will enhance supply chain efficiency. Investors can gain exposure to ON stock via First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) and Return Stacked Bonds & Managed Futures ETF Veridien Climate Action ETF (NYSE:CLIA).

Portfolio Pulse from Lekha Gupta

July 22, 2024 | 12:19 pm

XPeng Inc. and Volkswagen Group have entered into a Master Agreement to jointly develop electrical/electronic architecture for vehicles in China. This collaboration will utilize Volkswagen's China Main Platform and Modular Electric Drive Matrix platform, with the first vehicle expected to start production within 24 months.

Portfolio Pulse from charles@benzinga.com

July 22, 2024 | 12:24 am

XPeng Inc (NYSE:XPEV) shares are trading lower in the premarket session due to reports of potential U.S. chip sale restrictions on China. Despite this, XPeng's partnership with Volkswagen is progressing, with significant collaboration in EV technology. Volkswagen plans to invest $700 million in XPeng and co-develop two EV models. XPeng's G6 model also made its U.K. debut recently.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2024 | 1:17 pm

EU nations are divided over the imposition of tariffs on Chinese electric vehicles (EVs). The European Commission has imposed provisional tariffs of up to 37.6% and is considering input from member states. France, Italy, and Spain support the tariffs, while Germany, Finland, and Sweden abstained. The Commission may consider reduced tariffs for BMW and Volkswagen models made in China.

Portfolio Pulse from Nabaparna Bhattacharya

July 16, 2024 | 6:16 pm

Needham analyst Chris Pierce reiterated a Buy rating on Rivian Automotive, Inc. (NASDAQ:RIVN), raising the price forecast to $20 from $13. Pierce sees Rivian as a long-term winner in the EV transition, highlighting its strategic focus on cost savings, supplier relationships, and factory efficiencies. The recent Volkswagen JV is expected to provide up to $5 billion in capital, boosting Rivian's software-defined vehicle strategy. Pierce also raised the FY24 revenue forecast to $4.563 billion from $4.254 billion. Despite these positive outlooks, RIVN shares are trading lower by 7% to $13.46.

Portfolio Pulse from Nabaparna Bhattacharya

June 28, 2024 | 5:23 pm

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