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 plans to introduce affordable electric vehicles (EVs) priced under $30,000. The company aims to reduce battery costs through a standard cell from subsidiary PowerCo and cost-effective cell chemistry without cobalt and nickel. Volkswagen also plans to use its MEB+ platform to enable fast charging in less than 20 minutes. The company's ID. 2 all-concept vehicle, with a starting price below $26,873, will be built on the MEB entry platform and is one of ten new electric models to be launched by 2026.

Portfolio Pulse from Anan Ashraf

September 06, 2023 | 4:51 am

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

Tesla's market share increased from 16% to 20% in Q2 2023, the biggest expansion among the top seven companies, despite fears of margin pressure due to aggressive price cuts. The company's EV sales rose 83% YoY, outpacing the 50% overall global battery EV sales. However, Tesla's growth trailed the 96% growth of BYD and 111% growth of Geely. Tesla's stock edged up 0.18% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

August 31, 2023 | 12:46 pm

The EV industry is seeing intense competition with Tesla facing rivals on multiple fronts. Ford, BYD, Nio, and XPeng have all responded to Tesla's price war. Worksport, an automotive parts manufacturer, is set to deliver the world's first solar-powered tonneau cover and portable battery system. BYD posted record sales results and acquired the electronics manufacturing business in China owned by Jabil Inc. XPeng has agreed to buy a smart EV development business from DiDi Global and is developing two EVs with Volkswagen. Nio, despite a wider-than-expected Q2 loss, is revamping its products and launching a phone.

Portfolio Pulse from Upwallstreet

August 30, 2023 | 3:38 pm

Chinese EV manufacturers XPeng and BYD have announced strategic acquisitions. XPeng will purchase Didi Global Inc.'s smart-car development business, while BYD's electronics unit will acquire Jabil Inc's mobile electronics manufacturing business in China. BYD also reported record deliveries and a 204.7% rise in profit for the first half of the year. XPeng's shares rose 5.5% in pre-market trading following the announcement.

Portfolio Pulse from Upwallstreet

August 28, 2023 | 2:50 pm

Stellantis NV is reportedly planning to partner with a Chinese electric vehicle company, potentially Zhejiang Leapmotor Technologies Ltd., to expand its presence in the global auto market. Volkswagen AG has also expressed interest in partnering with Leapmotor. The potential collaboration aligns with Stellantis' asset-light strategy proposed by CEO Carlos Tavares for China.

Portfolio Pulse from Shivani Kumaresan

August 23, 2023 | 4:31 pm

Swedish lithium-ion battery producer Northvolt has received a $1.2 billion investment from a consortium of investors including BlackRock Inc, Goldman Sachs Group Inc, and Volkswagen AG. The investment will be used to establish new factories in Europe and North America. This reflects corporations’ interest in funding companies that are set to benefit from the transition to a low-carbon economy.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 2:28 pm

XPeng Inc. (NYSE:XPEV) has stated that Tesla Inc.'s (NASDAQ:TSLA) price cut strategy in the Chinese market has not impacted its sales. XPeng's G6 model has become a bestseller in its price segment and the company plans to scale production volume. XPeng also mentioned its collaboration with Volkswagen (OTCPK: VWAGY) to develop EV platforms. The company expects its gross margin to become positive in the fourth quarter.

Portfolio Pulse from Anan Ashraf

August 19, 2023 | 8:37 am

In Q2, global sales of battery electric vehicles (BEVs) surpassed 2.15 million units, a 39.3% YoY increase. Tesla and Warren Buffett-backed BYD led the market with shares of 21.7% and 16.2% respectively. GAC Aion secured the third spot with a 6% market share. When combined, Volkswagen and Audi outweigh GAC Aion in terms of market share. Other key players include General Motors, SAIC Motors, Wuling, Hyundai, BMW, Mercedes-Benz, and Kia. The quarter also saw the sale of 876,000 plug-in hybrids, with BYD leading with a 36.5% market share.

Portfolio Pulse from Anan Ashraf

August 18, 2023 | 6:24 am

Morgan Stanley analyst Adam Jonas has maintained an 'equal-weight' rating on Tesla with a price target of $250, following the company's recent price cuts in China. Jonas believes China will shift from being an auto importer to exporter due to supply-demand dynamics. He also noted that legacy automakers are collaborating with Chinese players, such as Volkswagen's collaboration with XPeng, but does not expect these partnerships to significantly impact the market. Tesla's shares closed down 2.8% at $219.22 on Thursday.

Portfolio Pulse from Anan Ashraf

August 18, 2023 | 4:47 am

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