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

Porsche, owned by Volkswagen AG (OTC:VWAGY), is recalling nearly 5,000 of its fully electric Taycan vehicles due to increased risks of fire. The recall follows the identification of an insufficient amount of sealant on the battery, which can lead to liquid accumulation and increase the risk of fire. This recall comes after Volkswagen also recalled certain 2023 Audi RS E-Tron GT and E-Tron GT vehicles citing the same concerns.

Portfolio Pulse from Anan Ashraf

September 12, 2023 | 4:09 am

The global electric vehicle (EV) market share reached 15% in 2023, with a 41% YoY surge in July. Tesla Inc (NASDAQ:TSLA) and BYD (OTC:BYDDF) are among the top players, with Tesla Model Y and BYD Song being the top-selling EVs. Other companies in the top 10 include General Motors (NYSE:GM), Volkswagen (OTC:VWAGY), BMW (OTC:BMWYY), Li Auto (NASDAQ:LI), and Hyundai Motor (OTC:HYMLY). The US lags behind other markets with only 5.8% of all new vehicles sold in 2022 being EVs.

Portfolio Pulse from Chris Katje

September 11, 2023 | 9:40 pm

Tesla CEO Elon Musk has predicted that legacy automakers like Volkswagen and General Motors could become obsolete unless they transition to autonomous electric vehicles. Musk has previously noted the slow pace of EV adoption by these companies.

Portfolio Pulse from Anan Ashraf

September 11, 2023 | 4:39 am

Tesla, Inc. is expected to showcase its Cybertruck and new Model 3 at the Detroit Auto Show next week, according to investor Gary Black. Other brands such as BMW, General Motors, Ford, and Volkswagen will also be displaying their electric vehicle lineups. Black believes that the event could provide significant exposure for Tesla's new products. Tesla's shares fell 0.82% in premarket trading on Friday.

Portfolio Pulse from Shanthi Rexaline

September 08, 2023 | 9:59 am

Honda Motor Co Ltd (NYSE:HMC) has announced that it will adopt Tesla's (NASDAQ:TSLA) EV chargers for its upcoming electric vehicles starting in 2025. Honda joins a growing list of car companies, including Ford Motor Co. (NYSE:F), General Motors Co (NYSE:GM), and Volvo Cars ADR (OTC:VLVCY), that have committed to using Tesla's North American Charging Standard (NACS). Tesla has also announced a new partnership with Hilton Hotels (NYSE:HLT) to add up to 20,000 universal wall connectors for both standards in 2,000 hotel locations in the U.S., Mexico, and Canada.

Portfolio Pulse from Natan Ponieman

September 07, 2023 | 9:39 pm

SoftBank Group Corp has invested over $1 billion in autonomous trucking startup, Stack AV, led by founders formerly associated with Ford Motor Company and Volkswagen AG. This investment comes after SoftBank sold its stake in Cruise LLC to General Motors Co for $2.1 billion. SoftBank is also preparing for the IPO of Arm Holdings Ltd, a leading chip designer, with expected valuations between $50 billion to $54 billion.

Portfolio Pulse from AJ Fabino

September 07, 2023 | 4:29 pm

At the Munich Auto Show, Tesla and BYD showcased their EV models, with BYD dethroning Volkswagen as the best-selling EV brand in China. Worksport Ltd announced a partnership with a top-tier solar panel provider to develop its SOLIS solar-powered tonneau cover. Tesla debuted a revamped Model 3 and lowered prices for Model S and Model X in China and the U.S. BYD presented six models at the IAA Mobility Show and announced plans to expand into the European market.

Portfolio Pulse from Upwallstreet

September 07, 2023 | 3:17 pm

Volkswagen's CEO, Oliver Blume, has dismissed concerns over the rising threat from Chinese electric vehicle (EV) makers, stating that European manufacturers hold an advantage due to their vehicle know-how, quality levels, and brand legacy. Despite the increase in EVs shipped to Germany from China, Blume remains confident in VW's competitive edge. He also highlighted VW's focus on reducing battery costs by 50% with its new unified cell, enabling cheaper EVs.

Portfolio Pulse from Benzinga Neuro

September 07, 2023 | 9:50 am

The IAA motor show in Munich highlighted the strength of China's EV market, with Tesla unveiling an improved Model 3 and Chinese brands BYD and XPeng showcasing their models. European automakers also revealed their EV plans, with BMW unveiling a concept car for its new EV series, Mercedes-Benz revealing a coupe-style EV, and Volkswagen aiming to halve battery cell costs through its partnerships in China.

Portfolio Pulse from Upwallstreet

September 06, 2023 | 5:11 pm

The National Highway Traffic Safety Administration (NHTSA) has made an initial decision that some air bag inflators manufactured by ARC Automotive and Delphi Automotive from 2000 through January 2018 must be recalled. These inflators, which may rupture and eject metal debris, have been incorporated into air bag modules of 12 vehicle manufacturers including BMW, Ford, General Motors, Hyundai, Kia, Stellantis, Mercedes-Benz, Tesla, Toyota, and Volkswagen. Delphi Automotive was acquired by Autoliv, who may not have the legal liability for the inflators manufactured by Delphi.

Portfolio Pulse from Anan Ashraf

September 06, 2023 | 7:02 am

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