Streetbeat News

VWAGY

Volkswagen AG

https://www.volkswagenag.com/

Open

9.33

Mkt cap

44B

Volume

39K

High

9.33

P/E Ratio

3.34

52-wk high

16.48

Low

9.25

Div yield

0.12

52-wk low

9.10

A group of 33 U.S. senators has urged Tesla (NASDAQ:TSLA) and 12 other automakers to remain neutral in unionization efforts by the United Auto Workers (UAW). The senators, including high-profile Democrats, emphasized the importance of neutrality, especially as these companies benefit from federal funds for electric vehicle transition. The letter cites NLRB findings of Tesla's illegal tactics against unionizing. Additionally, Tesla is conducting a recall of 1.62 million vehicles in China and has adjusted the range estimates for Model S, X, and Y on its website.

Portfolio Pulse from Nabaparna Bhattacharya

January 05, 2024 | 4:41 pm

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

Automobile manufacturers are divided on the UK's zero-emission vehicle (ZEV) mandate. Toyota (NYSE:TM), Jaguar Land Rover, and Nissan seek to delay the mandate, citing concerns over financial and brand damage. In contrast, Volkswagen (OTC:VWAGY), Ford (NYSE:F), and Tesla (NASDAQ:TSLA) are advocating for stricter ZEV regulations. The current mandate requires 22% of new cars sold in 2024 to be zero-emission, increasing to 80% by 2030. The UK government has introduced some flexibility in the rules after lobbying efforts.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 5:23 am

Chinese EV makers NIO, XPeng, Li Auto, and BYD reported strong December deliveries, with BYD on track to challenge Tesla's global EV dominance. XPeng and Li Auto achieved record monthly and quarterly deliveries, while BYD reported record quarterly BEV deliveries. Despite economic challenges, these companies ended the year positively, with new model launches and partnerships, such as XPeng's deal with Volkswagen. Tesla is expected to report lower Q4 deliveries compared to BYD, but may still lead in annual totals.

Portfolio Pulse from Shanthi Rexaline

January 01, 2024 | 2:04 pm

JAC Yiwei EV, the world's first electric vehicle powered by a sodium-ion battery, has begun mass production in China. The EV is a result of a collaboration between Anhui Jianghuai Automobile (JAC) and Volkswagen Group (OTC:VWAGY). The Yiwei EV uses a sodium-ion pack from HiNa Battery and JAC's UE module technology. Volkswagen's investment in JAC and a recent $700 million investment in Xpeng for a nearly 5% stake are part of its strategic moves in China's booming EV sector. Sodium-ion batteries are seen as a cost-effective solution that could drive the widespread adoption of electric vehicles.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 1:36 pm

Toyota Motor (NYSE:TM) is expected to maintain its position as the world's best-selling automaker, outperforming Volkswagen AG (OTC:VWAGY). Meanwhile, BYD Company Limited (OTC:BYDDY) is projected to surpass Tesla Inc (NASDAQ:TSLA) as the leading EV seller. Toyota's sales rose 12% YoY in November, with a significant increase in China. BYD's growth signifies China's rising dominance in the EV market. Tesla faces challenges with its Cybertruck and reported lower than expected Q3 deliveries. Tesla plans a Model Y revamp in Shanghai for mid-2024 production, but BYD is likely to outsell Tesla in the current quarter.

Portfolio Pulse from Upwallstreet

December 27, 2023 | 5:47 pm

BMW aims to deliver over 500,000 EVs in 2024, indicating significant growth. Despite the end of a state-funded EV scheme in Germany, BMW's global plans remain unaffected. The company has also partnered with Mercedes-Benz Group China Ltd to manage a high-speed charging network in China and plans to expand its ChargeForward service in the U.S. Meanwhile, Volkswagen AG plans to stop selling combustion engine cars in Europe by 2035.

Portfolio Pulse from Shivani Kumaresan

December 21, 2023 | 5:29 pm

Major automakers, including General Motors (GM), Toyota (TM), Volkswagen (VWAGY), Ford (F), Mercedes-Benz (MBGYY), BMW (BMWYY), Hyundai (HYMTF), and Kia, along with air bag manufacturers, are opposing the NHTSA's recommendation to recall 52 million air bag inflators over rupture concerns. The recall, if enforced, would be the second-largest in U.S. automotive history. Automakers argue the risks are minimal, with ARC estimating less than one rupture in the next 33 years. GM and Stellantis (STLA) have called NHTSA's actions arbitrary and contrary to law. GM shares dropped slightly in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 20, 2023 | 12:23 pm

Volkswagen AG's subsidiaries, including Volkswagen, Audi, Porsche, and Scout Motors, will adopt Tesla Inc's North American Charging Standard (NACS) starting in 2025 for their EVs in North America. This move will allow these vehicles to access Tesla's extensive supercharger network. Tesla welcomed the expansion of NACS adoption, which has grown from one automaker in 2022 to 28 in 2023. Ford Motor Co was the first major automaker to adopt NACS, followed by others like General Motors Co, Rivian Automotive Inc, and Volvo Group. Stellantis NV has not yet committed to NACS.

Portfolio Pulse from Anan Ashraf

December 20, 2023 | 3:40 am

Volkswagen AG (OTC:VWAGY) has announced it will cover the EV subsidy for German customers who ordered from its all-electric ID. series before Dec. 15, after the German government cut funding. The subsidy will be up to €6,750 for vehicles registered within the year and €4,500 for those registered between Jan. 1 and Mar. 31. Stellantis also plans to fund the full subsidy until year-end, with a reduced subsidy for registrations by Feb. 29. Critics argue the subsidy cut could harm German automakers' competitiveness.

Portfolio Pulse from Benzinga Neuro

December 19, 2023 | 12:18 pm

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