Volkswagen onthult elektrische ID.4-SUV met een actieradius van 250 mijl – Reuters UK

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(Reuters) – Volkswagen AG’sVOWG_p.DEU.S. subsidiary on Wednesday revealed its ID.4 electric sport utility vehicle and a pricing strategy aimed at opening a new front in competition with Tesla Inc and other automakers.

FILE PHOTO: The logo of German carmaker Volkswagen is seen on a rim cap in a showroom of a Volkswagen car dealer in Brussels, Belgium July 9, 2020. REUTERS/Francois Lenoir

The ID.4’s driving range is less than Tesla’s Model Y electric compact SUV, which offers more than 300 miles (483 km)between charges.

But Volkswagen is hoping to offset that by offering the ID.4 at a lower price than Tesla’s Model Y. Customers can further benefit from federal and state electric vehicle subsidies for which Tesla no longer qualifies.

The ID.4 will initially come at a price of $39,995 and will be about $5,000 less expensive once the company begins building it in the United States, Volkswagen said.

By comparison, Tesla’s Model Y is priced at $49,990, the Model X SUV comes at a price of $79,990 and its lowest-priced Model 3 sedan is $37,990. Tesla CEO Elon Musk on Tuesday said he is aiming to build a $25,000 electric car, but that is three years away.

The ID family is an integral part of the Volkswagen brand’s ambitious plan to build 1.5 million electric vehicles a year by 2025. In the U.S. market, the ID.4 also is aimed at getting Volkswagen back on the shopping lists of consumers turned off by the brand’s diesel emissions cheating scandal.

The ID.4 will be the first electric compact SUV that can sell for about $35,000 – aiming at a high-volume segment and the average price level of vehicles sold in the U.S. market, Volkswagen of America chief Scott Keogh told Reuters.

“We want volume,” Keogh said.

Combined with three years of free charging on its Electrify America network, Volkswagen dealers will be able to offer the ID.4 for thousands of dollars less than a typical Tesla Model Y.

“We wanted to make sure not only do we have sufficient range, but do we have the price point?” Keogh said.

The ID.4 launch will also test Volkswagen’s U.S. dealers. The automaker is asking them to invest in charging stations and other infrastructure, and trying to build online selling capability for electric vehicles.

The ID.4, which will be assembled in the United States starting in 2022, is part of a family of electric vehicles expected to include a reincarnation of VW’s popular Microbus van.

“I want a volunteer army, not a draft army,” Keogh said, describing his message to dealers at a meeting in Chattanooga, Tennessee, last November. Nearly all of VW’s U.S. dealers have agreed to make the required investments, he said.

John Luciano, head of Volkswagen’s U.S. dealer council, said that dealers who take advantage the automaker’s subsidies for advertising costs can offset investments in charging infrastructure and other equipment.

“If you really pay attention, you can do it at almost no cost,” said Luciano, who owns Volkswagen and Toyota stores in Amarillo, Texas.

“How many will I sell? I don’t know,” Luciano said of the ID.4. “We have been getting calls for years about the van.”

Reporting by Joseph White in Detroit and Shreyasee Raj in Bengaluru; Editing by Amy Caren Daniel and Matthew Lewis

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Duitse rechtbank opent strafrechtelijke procedure tegen voormalig CEO van Volkswagen – Reuters

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FILE PHOTO: Former Volkswagen chief executive Martin Winterkorn leaves after testifying to a German parliamentary committee on the carmaker’s emissions scandal in Berlin, Germany, January 19, 2017. REUTERS/Hannibal Hanschke/File Photo

FRANKFURT (Reuters) – A court in Braunschweig, Germany, said on Thursday it had opened proceedings against former VolkswagenVOWG_p.DECEO Martin Winterkorn, examining whether he is guilty of market manipulation as part of the carmaker’s emissions scandal.

Winterkorn and other Volkswagen executives face charges for their role in allowing diesel cars with excessive pollution levels to hit the road, and for allegedly failing to inform investors adequately about the extent of the emissions fraud.

The carmaker has paid out more than 30 billion euros ($35 billion) in fines and penalties for cheating emissions tests, which was uncovered by U.S. authorities in September 2015.

The court is examining whether Volkswagen had a duty to inform investors earlier about the size of potential fines. Volkswagen has said the level of the fines was not foreseeable.

On Thursday, a spokesman for the carmaker reiterated the company had fulfilled all disclosure requirements related to the diesel scandal.

Felix Doerr, a lawyer for Winterkorn, said his client rejects the allegations that he failed in his duty to inform markets in a timely fashion.

Reporting by Edward Taylor; Editing by Riham Alkousaa and Mark Potter

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Hier is elke hoek van de volledig elektrische VW ID.4-crossover die naar Amerika komt

Hier is elke hoek van de volledig elektrische VW ID.4-crossover die naar Amerika komt

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Canada lanceert emissiereductiefonds van Volkswagen boete – Reuters UK

Canada lanceert emissiereductiefonds van Volkswagen boete – Reuters UK

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FILE PHOTO: A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris, France, July 9, 2020. REUTERS/Christian Hartmann

TORONTO (Reuters) – Canada launched a fund on Thursday to invest in community-based projects to curb emissions, with bulk of the money coming from a fine that Volkswagen AGVOWG_p.DEpaid for breaking the country’s diesel emissions rules.

The C$206 million ($157 million) fund is part of the government’s new Climate Action and Awareness Fund which seeks to boost climate science research by empowering youth and communities.

“The new Climate Action and Awareness Fund will create jobs for Canadians in science and technology, academia, and at the grassroots community level,” Johnathan Wilkinson, minister of environment and climate change, said in statement.

In January, a judge in Canada approved a C$196.5 million fine against VolkswagenVOWG_p.DEafter the company pleaded guilty to dozens of counts of diesel emissions violations. The fine was by far the largest environmental penalty in Canadian history, prosecutors said.

The minister also announced a C$50 million investment over three years towards a number of priorities such as supporting additional research to bring down the country’s emission to net-zero.

Reporting by Mahad Arale; Editing by Cynthia Osterman

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Ex-VW-CEO wordt beschuldigd van georganiseerde commerciële fraude – Reuters Africa

Ex-VW-CEO wordt beschuldigd van georganiseerde commerciële fraude – Reuters Africa

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Volkswagen in gesprek om Bugatti te verkopen aan het Kroatische Rimac – Manager Magazin – Reuters UK

Volkswagen in gesprek om Bugatti te verkopen aan het Kroatische Rimac – Manager Magazin – Reuters UK

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FRANKFURT (Reuters) – VolkswagenVOWG_p.DEis in talks to sell its supercar brand Bugatti to Croatian entrepreneur Mate Rimac, Manager Magazin said on Thursday citing people familiar with the talks.

The sale to Mate Rimac will be discussed by Volkswagen’s committees this year, Manager Magazin said.

Bugatti, Mate Rimac and Volkswagen declined to comment.

Rimac has developed an electric supercar platform, which he supplies to other carmakers, including Automobili Pininfarina. Volkswagen unit Porsche owns a stake in Rimac.

Reporting by Edward Taylor; Editing by Joseph Nasr

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VW in gesprek om Bugatti te verkopen aan het Kroatische Rimac – Manager Magazin – Reuters

VW in gesprek om Bugatti te verkopen aan het Kroatische Rimac – Manager Magazin – Reuters

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FILE PHOTO: The Bugatti logo is seen on the radiator of a vintage Bugatti Type 35 sports car at the company’s headquarters Chateau St. Jean in Molsheim, France June 6, 2019. Picture taken June 6, 2019. REUTERS/Arnd Wiegmann

FRANKFURT (Reuters) – Volkswagen is in talks to sell its supercar brand Bugatti to Croatian entrepreneur Mate Rimac, Manager Magazin said on Thursday citing people familiar with the talks.

The sale to Mate Rimac will be discussed by Volkswagen’s committees this year, Manager Magazin said.

Bugatti, Mate Rimac and Volkswagen declined to comment.

Rimac has developed an electric supercar platform, which he supplies to other carmakers, including Automobili Pininfarina. Volkswagen unit Porsche owns a stake in Rimac.

Reporting by Edward Taylor; Editing by Joseph Nasr

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Navistar wijst het uitkoopbod van Volkswagen-vrachtwagenunits af – Reuters UK

Navistar wijst het uitkoopbod van Volkswagen-vrachtwagenunits af – Reuters UK

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FILE PHOTO: A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris, France, July 9, 2020. REUTERS/Christian Hartmann/File Photo

(Reuters) – Navistar International CorpNAV.Non Monday rejected VolkswagenVOWG_p.DEtruck unit Traton’s8TRA.DEbuyout offer of $43 per share, but said it was a starting point for exploring a possible transaction.

The German automaker has raised its $35 per share January offer as it looks to increase its 16.6% stake in the U.S. truck maker Navistar acquired in 2016. Analysts at Jefferies have said Navistar is worth at least $45 a share.

The company said Traton’s proposal significantly undervalues it.

The truck sector faces pressure to consolidate and share the costs of developing low-emission technologies. Traton and Navistar have been collaborating on purchasing and developing electric vehicle technology.

Reporting by Rachit Vats in Bengaluru; Editing by Vinay Dwivedi

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UPDATE 1-Volkswagen om autonome voertuigen te testen in de Chinese stad Hefei – Reuters

UPDATE 1-Volkswagen om autonome voertuigen te testen in de Chinese stad Hefei – Reuters

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FILE PHOTO: A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris, France, July 9, 2020. REUTERS/Christian Hartmann/File Photo

BEIJING (Reuters) – Volkswagen AGVOWG_p.DEsaid on Wednesday it will start testing autonomous vehicles in China’s eastern city of Hefei, its first in the world’s biggest car market.

China has become a hot spot for trying out autonomous driving vehicles. Toyota-backed7203.TPony.ai, Baidu IncBIDU.O, Nissan-backed7201.TWeRide and Didi Chuxing are all testing autonomous cars in different cities as automakers and tech companies are investing billions in the technology.

Volkswagen, the biggest foreign automaker in China, will start the test in Hefei with Audi’s e-tron electric sport utility vehicles from September, it said in a statement. The test will be open to the public from next year.

In May, Volkswagen said it would invest 1 billion euros ($1.18 billion) to take a 50% stake in the state-owned parent of Chinese electronic vehicle group JAC. Volkswagen will also take full management control of its existing electric vehicle joint venture with JAC in Hefei by raising its stake to 75% from 50%.

Volkswagen also has ventures with state-owned China FAW Group Corp Ltd [SASACJ.UL] and SAIC Motor Corp Ltd600104.SS.

The German car company sold 1.59 million vehicles in China in the first six months of 2020, down 17% from 1.92 million vehicles in the same period last year. For all of 2019, Volkswagen sold around 4.23 million vehicles in the country.

In June Volkswagen closed its $2.6 billion investment in Pittsburgh-based self-driving startup Argo AI, in which Ford Motor CoF.Nalso has a stake.

($1=0.8465 euros)

Reporting by Yilei Sun and Brenda Goh; editing by David Evans and Jane Merriman

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