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

Volkswagen AG has started operations at its first fully owned battery pack production facility in Hefei, China. This move is part of Volkswagen's strategy to expand its electric vehicle production in the world's largest auto market. The plant will begin mass production of electric models by the end of 2023, with an investment of approximately $208.01 million. CEO Oliver Blume is aiming for a €20,000 EV by the latter half of the decade. Volkswagen shares are currently trading down by 2.78% at $12.87.

Portfolio Pulse from Shivani Kumaresan

November 21, 2023 | 5:45 pm

Tesla Inc (NASDAQ:TSLA) saw the largest increase in new vehicle registrations in the EU in October, with a 148% jump from the previous year. Other automakers also experienced growth, but Ford Motor Co (NYSE:F) and Mitsubishi Motors Corp (OTCPK: MMTOF) saw declines. Volkswagen AG (OTCPK: VWAGY) remains the top brand, followed by Stellantis NV (NYSE:STLA). The EU car market is growing, with a rise in EV registrations, although gas remains the most popular fuel.

Portfolio Pulse from Anan Ashraf

November 21, 2023 | 8:48 am

Electric vehicle stocks saw gains in the week ending Nov. 18, with Tesla (TSLA) up over 10% despite controversy over CEO Elon Musk's support for antisemitic content. Tesla faces union issues in Sweden and prepares for the Cybertruck launch. Nikola (NKLA) announced the resignation of CFO Anastasiya Pasterick. Fisker (FSR) reported disappointing Q3 results and internal control weaknesses. Rivian (RIVN) offers incentives for R1T purchases. Volkswagen (VWAGY) recalls ID.4s over flammability concerns. The KraneShares Electric Vehicles ETF (KARS) ended the week up 4.51% but down 0.88% on Friday.

Portfolio Pulse from Shanthi Rexaline

November 18, 2023 | 2:39 pm

Volkswagen's CEO Oliver Blume is optimistic about launching a €20,000 ($21,714) electric vehicle (EV) by the second half of the decade. Blume cites reducing battery costs as key to achieving this price point, with plans to manufacture a unified battery cell to cut expenses by half. Volkswagen previously announced a €25,000 ($27,125) EV with a 450-km range and quick charging, and a less expensive model is hinted at but not detailed. Challenges such as inflation, charging infrastructure, and subsidy cuts are acknowledged. Volkswagen AG also plans to launch a sub-$35,000 EV in the U.S. within 3-4 years.

Portfolio Pulse from Benzinga Neuro

November 16, 2023 | 8:49 am

Labor disputes are affecting major automakers like Ford, Stellantis, and General Motors, with potential strikes looming if UAW agreements are rejected. Tesla also faces labor issues in Sweden. In contrast, XPeng and Worksport reported strong Q3 results, with Worksport's North American sales surging and securing significant orders and agreements. Worksport's 'Made in the USA' products and R&D investments position it well in the market. Hyundai, Toyota, and Honda have raised wages, while Tesla's refusal to negotiate in Sweden and price war strategies may impact its margins and market position.

Portfolio Pulse from Upwallstreet

November 15, 2023 | 4:04 pm

Volkswagen AG plans to launch a sub-$35,000 electric vehicle in the U.S. within the next three to four years. The company is considering potential production locations in the U.S. or Mexico and is exploring the localization of battery pack assembly. Meanwhile, Chinese car manufacturer NIO Inc is still considering a 2025 entry into North America, with the need to establish a robust infrastructure and potential partnerships being key factors.

Portfolio Pulse from Shivani Kumaresan

November 09, 2023 | 6:49 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 (OTC:VWAGY) has reportedly postponed its decision to select a new location for its fourth gigafactory dedicated to electric vehicle (EV) battery production due to slower-than-expected uptake of EVs in the European market. The company has already selected sites in Germany, Spain, and Canada. The Czech Republic, a contender for the new factory, is opening up its proposed location to other investors due to the delay.

Portfolio Pulse from Shivani Kumaresan

November 01, 2023 | 6:29 pm

BYD Company Limited reported its highest ever quarterly profit for Q3, outperforming Tesla Inc. Li Auto, XPeng, and Nio also recorded delivery records in October. Li Auto aims to become the top-selling luxury brand in China, with sales rising 664% YoY in August. XPeng, backed by Volkswagen, delivered a record 20,002 units in October, a 292% YoY growth. Nio reported a 59.8% YoY growth in October deliveries.

Portfolio Pulse from Upwallstreet

November 01, 2023 | 4:26 pm

Volkswagen AG (OTC: VWAGY) is reportedly planning a significant workforce reduction at its software division, Cariad, as part of a broader restructuring strategy. The company's board has approved the strategy, aiming to initiate the reductions from 2024. The CEO of Cariad, Peter Bosch, has spearheaded a wide-ranging overhaul for reorienting Cariad's direction since mid-year. The final blueprint for the revamp is still in the works.

Portfolio Pulse from Shivani Kumaresan

October 27, 2023 | 4:49 pm

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