Streetbeat News

VLKAF

Volkswagen AG

https://www.volkswagenag.com/

Industry

Automobile Manufacturing

Open

120.81

Mkt cap

60B

Volume

214

High

121.53

P/E Ratio

5.23

52-wk high

165.46

Low

120.81

Div yield

0.08

52-wk low

84.82

Volkswagen and Renault have ended talks to jointly develop an affordable electric version of the Twingo car. This decision could impact both companies' strategies to compete with Chinese EV manufacturers. Volkswagen may now develop its own affordable EV, while Renault will continue its Twingo project independently.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 3:41 pm

XPeng Inc. (NYSE:XPEV) shares rose in premarket trading after announcing a framework agreement with Volkswagen AG (OTC:VWAGY) (OTC:VLKAF) for technical collaboration on Volkswagen's EV platform in China. The collaboration focuses on integrating XPeng's E/E Architecture for central computing and domain controller-based architecture in Volkswagen's electric vehicles, expected to be produced in China from 2026.

Portfolio Pulse from Nabaparna Bhattacharya

April 17, 2024 | 11:28 am

XPeng Inc. (NYSE:XPEV) and Volkswagen AG (OTC:VWAGY) have enhanced their partnership by signing an agreement to jointly develop two B-class battery electric vehicles (BEVs) and initiate a Joint Sourcing Program for vehicle parts. This collaboration aims to leverage both companies' strengths, reduce platform costs, and improve the competitiveness of their BEVs. Additionally, XPeng is expanding its global presence through a strategic partnership with Ali & Sons in the UAE, targeting markets in Egypt, Azerbaijan, Jordan, and Lebanon. XPEV shares saw a premarket increase of 3.67% to $9.05.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 10:53 am

Volkswagen AG's battery unit PowerCo and its US partner QuantumScape Corp. have reported promising test results for a new solid-state EV battery. The battery retained 95% of its original capacity after 1,000 cycles, surpassing industry targets of 700 cycles with a maximum loss of 20% capacity. This development could make EVs more efficient and less expensive.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:52 pm

According to Reuters citing ACEA, 65% of electric cars sold in France are eligible for the country's state bonus scheme. This incentive is expected to boost the electric vehicle market in France in 2024.

Portfolio Pulse from Charles Gross

December 14, 2023 | 10:11 am

XPENG and Volkswagen are advancing in their collaboration to develop two B-Class Battery Electric Vehicle (BEV) models, as reported in a recent filing.

Portfolio Pulse from Charles Gross

December 06, 2023 | 10:54 am

Tesla Inc (NASDAQ:TSLA) is facing a decline in EV market share in China, with October 2023 deliveries down 2.6% from September, while BYD Co Ltd (OTCPK:BYDDF) saw a 5% increase. Tesla's aggressive discounts in China have affected margins, but with factory upgrades complete, the revamped Model 3 has begun deliveries. The Chinese market is focusing on AI and smart cockpits, with domestic and non-Chinese OEMs, including Volkswagen AG (OTCPK:VLKAF), Bayerische Motoren Werke AG (OTCPK:BMWYY), Toyota Motor Corp (NYSE:TM), and General Motors Co (NYSE:GM), investing in R&D. Elon Musk's new AI venture, xAI, has produced Grok, which may be integrated into Tesla vehicles to leverage their onboard computing for AI applications.

Portfolio Pulse from Surbhi Jain

November 13, 2023 | 5:46 pm

A senior executive at Volkswagen has announced plans to introduce an electric vehicle (EV) priced under $35,000 to the US market in the next 3-4 years. The company is considering building the EV in the US or Mexico and is also exploring the possibility of localizing the assembly of battery packs for the vehicle. The executive emphasized that Volkswagen is not scaling back its plans in the US market.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 2:58 pm

Volkswagen AG is reducing the production of several electric vehicle models at two German plants due to a decrease in European demand. The production of Volkswagen's ID.3 and Cupra's Born electric models will be reduced at the main EV plant in Zwickau until Oct. 16, and assembly of the ID.3 will stop in Dresden for the first two weeks of October.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 3:55 pm

Volkswagen AG is reportedly prepared for Europe's 2035 ban on new sales of fossil-fuel cars, as it ramps up its electric vehicle lineup. The company plans to reduce its battery expenses through a 50% drop in cost at the cell level via its partnerships in China. In the first half of the year, Volkswagen led the European market in the BEV segment, with deliveries increasing by 68% to 217,100 vehicles. However, in China, first-half deliveries were around 2% below the previous year's level.

Portfolio Pulse from Nabaparna Bhattacharya

September 04, 2023 | 4:48 pm

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