By Arpan Chaturvedi and Aditya Kalra NEW DELHI (Reuters) – India’s government has told a court in Mumbai that agreeing to Volkswagen’s demand to quash a $1.4 billion tax bill would have “catastrophic consequences” and encourage companies to withhold information and delay inquiries, court documents show. India’s highest-ever demand for back taxes related to import […]
For months, the location information of around 800,000 electric Volkswagen vehicles was available online due to a data leak, according to a report from the German news magazine Der Spiegel. The leak reportedly stemmed from the software running inside Volkswagen vehicles and could’ve allowed a bad actor to trace a driver’s exact movements, as noted […]
Volkswagen has reached a deal with the IG Metall trade union which will avert plant closures in Germany and avoid immediate compulsory redundancies. The two sides have, however, agreed to cut more than 35,000 jobs across the country in a “socially responsible manner” by 2030, in order to save some €15bn (£12.4bn). Germany’s largest carmaker […]
A Volkswagen logo on the rim of an e-up. electric car tire. Julian Stratenschulte | Picture Alliance | Getty Images German automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter. Operating profit fell to 2.86 billion euros ($3.1 billion), while third quarter sales revenues slipped 0.5% year on year […]
By Gleb Stolyarov and Alexander Marrow (Reuters) – Chinese carmaker Chery has started assembling cars in Russia for sale in the country at three factories vacated by Western rivals including Volkswagen and Mercedes, five people familiar with the matter told Reuters. Chinese carmakers have grabbed more than half of Russia’s car market in terms of […]
