Streetbeat News

VWAGY

Volkswagen AG

https://www.volkswagenag.com/

Open

9.14

Mkt cap

45B

Volume

40K

High

9.14

P/E Ratio

3.53

52-wk high

16.48

Low

9.08

Div yield

0.12

52-wk low

8.83

Volkswagen plans to introduce affordable electric cars priced at 20,000 euros in Europe by 2027. The company aims to make electromobility widespread with entry-level vehicles, despite challenges like rising energy and raw material costs. Volkswagen is also focusing on high localization to reduce emissions.

Portfolio Pulse from Anan Ashraf

May 29, 2024 | 12:59 pm

European equities closed higher on Monday, driven by expectations of an imminent ECB rate cut. Key ECB members made statements supporting a rate cut in June. The euro inched higher, and major European indices saw gains. Notable stock movers included RWE AG, Bayer AG, Volkswagen AG, Enel, Iberdrola, Eni, Novo Nordisk, LVMH, ASML, Stellantis, Ferrari, and UBS.

Portfolio Pulse from Piero Cingari

May 27, 2024 | 5:55 pm

Volkswagen has delayed the launch of its ID.7 electric sedan in the U.S. and Canada, initially expected later this year. The ID.7, already on sale in Europe, is part of Volkswagen's ID lineup and is priced competitively with Tesla's Model S. No new timeline for the launch was provided. Volkswagen of America reported a 21% increase in total sales for Q1 2024, but saw a 37% drop in sales for its ID.4 electric SUV.

Portfolio Pulse from Anan Ashraf

May 23, 2024 | 10:28 am

XPeng Inc (NYSE:XPEV) reported strong first fiscal quarter results, narrowing its loss and increasing EV deliveries and margins. The company also provided optimistic second-quarter guidance and announced future plans, including the launch of new models and expansion into international markets.

Portfolio Pulse from Upwallstreet

May 22, 2024 | 2:06 pm

Ford Motor Co. (NYSE:F) has endorsed the Biden administration's initiative to significantly reduce vehicle emissions by 2032, opposing Republican claims that the regulations are detrimental to business. The EPA's plan aims to decrease passenger vehicle emissions by nearly 50% from 2027 levels. Other major automakers, including General Motors Co. (NYSE:GM), Toyota Motor Corp (NYSE:TM), and Volkswagen AG (OTC:VWAGY), have shown support for specific aspects of the rule. A coalition of 25 Republican-led states has initiated legal action against the EPA, while 22 states, led by California, back the emissions standards.

Portfolio Pulse from Shivani Kumaresan

May 21, 2024 | 2:45 pm

BMW Group imported over 8,000 Mini Cooper vehicles into the U.S. containing banned Chinese components. The company has ceased importing the affected products and will replace the parts. The Uyghur Forced Labor Prevention Act (UFLPA) law aims to curb imports produced with forced labor from China’s Xinjiang region. Lear Corp informed BMW, Jaguar Land Rover, Volvo, and Volkswagen about the banned components. Volkswagen confirmed holding several thousand vehicles at U.S. ports due to the issue.

Portfolio Pulse from Shivani Kumaresan

May 20, 2024 | 5:11 pm

Volkswagen's Audi is partnering with SAIC to develop a new EV platform in China, aiming to accelerate its BEV portfolio and reduce time-to-market. This collaboration follows Volkswagen's $700 million investment in Xpeng and highlights the increasing reliance on Chinese technological expertise. Stellantis also announced a partnership with Leapmotor to bring models to Europe.

Portfolio Pulse from Shivani Kumaresan

May 20, 2024 | 10:42 am

Volkswagen has exited discussions with Renault on a joint affordable EV project. Renault will continue developing the electric Twingo independently, while Volkswagen plans its own low-cost EV strategy. This development highlights the competitive pressure from Chinese automakers in the European market.

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 3:52 pm

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

Hyundai Motor Group surpassed Volkswagen Group in operating profit for Q1 2024, with Toyota Group maintaining its lead. Hyundai's diverse portfolio and investments in technical capabilities, including a partnership with Worksport Ltd, contributed to its success. Volkswagen faces challenges in the EV market, particularly in China, and has partnered with Xpeng to improve its position.

Portfolio Pulse from Upwallstreet

May 15, 2024 | 12:55 pm

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