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's subsidiary Porsche is accelerating its shift to electric vehicles by ending the production of some internal combustion engine models earlier than planned. This move follows Volkswagen's recent $5 billion investment in Rivian Automotive, a competitor to Tesla. Porsche will discontinue petrol-powered versions of its Macan SUV and 718 sports cars to focus on electric versions.

Portfolio Pulse from Benzinga Neuro

July 08, 2024 | 9:57 am

The article highlights key events in the electric vehicle (EV) sector for the week ending July 5, with notable advancements for Tesla, Rivian, Canoo, Ford, and Nio. Tesla's stock surged due to better-than-expected deliveries, while Rivian exceeded its delivery forecast. Canoo secured new orders, and Ford reported strong Q2 EV sales. Nio's CFO announced his departure.

Portfolio Pulse from Shanthi Rexaline

July 06, 2024 | 3:13 pm

General Motors (GM) shares are trading lower after the company agreed to retire 50 million metric tons of greenhouse gas credits and pay a $145.8 million penalty for excess CO2 emissions. The EPA investigation revealed excess emissions from 5.9 million GM vehicles from 2012-2018. GM will also cancel over 30.6 million fuel economy credits for 2008-2010 model years. The stock has gained over 19% in the past 12 months.

Portfolio Pulse from Shivani Kumaresan

July 03, 2024 | 5:04 pm

Rivian has announced that it has no plans to partner on hardware or produce vehicles with Volkswagen Group as part of a joint venture.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 8:20 pm

Volkswagen (VW) and Rivian are in discussions to significantly expand their partnership, potentially collaborating on hardware and production. The head of Volkswagen's US electric car brand, Scout, is optimistic about the cooperation.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 5:32 pm

The electric vehicle (EV) sector saw significant developments this week, including Tesla's upcoming Q2 deliveries, Rivian's partnership with Volkswagen, and Nikola's deal with Walmart Canada. Tesla's delivery numbers are anticipated with mixed expectations, Rivian's stock surged on a financing deal, and Nikola delivered its hydrogen fuel-cell trucks to Walmart Canada. Other notable mentions include BYD's new plant in Uzbekistan and Ford's plans for a low-cost EV.

Portfolio Pulse from Shanthi Rexaline

June 29, 2024 | 1:48 pm

Benzinga's Stock Whisper Index highlights five stocks that are gaining interest among investors: TJX Companies, Dutch Bros, Rivian Automotive, Pacific Gas & Electric, and Danaher Corporation. Key developments include TJX's joint venture with Grupo Axo, Dutch Bros' new board member and positive analyst rating, Rivian's $5 billion investment with Volkswagen, analyst updates on Pacific Gas & Electric, and Danaher's FDA approval for a Hepatitis C test.

Portfolio Pulse from Chris Katje

June 28, 2024 | 3:03 pm

Volkswagen is investing $5 billion in Rivian to form a joint venture focused on developing next-generation vehicle software. This partnership aims to enhance both companies' competitiveness in the EV market, particularly against Tesla. Rivian will use the funds to scale up manufacturing and build a new factory in Georgia. Additionally, Worksport is launching a solar-powered tonneau cover, SOLIS, which could add up to 10 miles of range per day for EVs.

Portfolio Pulse from Upwallstreet

June 27, 2024 | 5:16 pm

The article discusses the recent bullish moves in Novo Nordisk, Carvana, and Rivian, highlighting the pros and cons of trading options versus stocks. Novo Nordisk's stock surged after China approved its anti-obesity drug, Wegovy. Carvana's stock hit a 52-week high, benefiting from a call spread strategy. Rivian's shares rose significantly due to Volkswagen's $5 billion investment.

Portfolio Pulse from David Pinsen

June 27, 2024 | 4:39 pm

Rivian Automotive (NASDAQ:RIVN) held an investor day highlighting new vehicle launches, a joint venture with Volkswagen, and partnerships with Amazon and Tesla. CEO RJ Scaringe emphasized cost reductions, vertical integration, and autonomy. Rivian plans to open its EV charging network this summer and aims for positive gross profit by Q4 2024.

Portfolio Pulse from Chris Katje

June 27, 2024 | 3:26 pm

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