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Volkswagen wants to cut wages by ten percent

Germany's largest car manufacturer Volkswagen confirms that the company is demanding a 10 percent wage reduction in negotiations with the union. The crisis-stricken corporation estimates that at least three factories in Germany must be closed and layoffs are to be expected.

Volkswagen wants to cut wages by ten percent

Significantly reduced profit for Volkswagen

The German automotive giant Volkswagen's profitability sank to its lowest level since the pandemic, according to its report for the third quarter. The car giant reports an operating profit of 2.

Significantly reduced profit for Volkswagen

The Trade Union: Volkswagen Wants to Close Several Factories

Volkswagen is planning to close at least three factories in Germany, according to the car group's union. .

The Trade Union: Volkswagen Wants to Close Several Factories

Full speed in the factory – but order intake is plummeting

Record production and deliveries and a significant profit increase characterize the third quarter for truck manufacturer Scania. However, order intake points sharply downward.

Full speed in the factory – but order intake is plummeting

Europe's Engine Stutters – This Is How It Affects Sweden

It is Sweden's most important trading partner and an economic engine for Europe. But Germany's economy is stagnant – which increases the risks for Swedish industry.

Europe's Engine Stutters – This Is How It Affects Sweden

Northvolt source: 150 million euros secured

Crisis-ridden Northvolt is holding talks with lenders and investors to raise 200 million euros, approximately 2. 3 billion Swedish kronor, according to several media outlets citing the news agency Reuters.

Northvolt source: 150 million euros secured

Northvolt CEO: Will pay 287 million kronor according to plan

On Monday, Northvolt must pay a tax debt of 287 million kronor. The alternatives are bankruptcy, reconstruction – or personal payment liability for the board.

Northvolt CEO: Will pay 287 million kronor according to plan

EU Says Yes to Car Tariffs - Sweden Wants Exemption

EU countries say yes to permanent tariffs on electric cars from China. Sweden abstained and hopes for a special solution for Volvo.

EU Says Yes to Car Tariffs - Sweden Wants Exemption

BMW does not want to invest more in Northvolt

The German car manufacturer BMW does not want to invest more in the crisis-stricken Swedish battery manufacturer Northvolt AB, reports the news agency Bloomberg with reference to a source. Northvolt is in an acute liquidity crisis and has notified 1,600 employees of termination and has also paused major investments since the funds are not sufficient.

BMW does not want to invest more in Northvolt

The Car Crisis is "Challenging" for Swedish Companies

The crisis among car giants risks hitting Swedish subcontractors. The industry organization FKG warns of a bleak 2025.

The Car Crisis is "Challenging" for Swedish Companies

Down on the stock exchange – tough for Volvo Cars

The Stockholm Stock Exchange started the week with falling prices. Among the losers, Volvo Cars stood out, which retreated after new profit warnings from the industry.

Down on the stock exchange – tough for Volvo Cars

After the Giant's Profit Warning - More to Come

For the second time this year, car giant Volkswagen is forced to issue a profit warning. More similar announcements are to be expected for a crisis-stricken German car industry, according to an analyst.

After the Giant's Profit Warning - More to Come

Volkswagen issues profit warning

The German car concern Volkswagen is lowering its forecast for the second time this year due to weak demand for passenger cars, reports Bloomberg. The company states that it expects to deliver around nine million units this year, which can be compared to 9.

Volkswagen issues profit warning

Northvolt owner: The situation is serious

The battery manufacturer Northvolt's cash reserves need to be replenished. Major lenders are meeting today to discuss a new lifeline, according to the news agency Bloomberg.

Northvolt owner: The situation is serious

Northvolt: "Tried to do too much at the same time"

Northvolt has invested in several new factories at the same time. It may have become too much to handle, according to Hampus Engellau, automotive analyst at Handelsbanken.

Northvolt: "Tried to do too much at the same time"

Northvolt lays off – 1,600 forced to leave

1,600 people will be leaving the crisis-stricken battery manufacturer Northvolt. This concerns 1,000 employees in Skellefteå, 400 in Västerås, and 200 in Stockholm.

Northvolt lays off – 1,600 forced to leave

Volvo's CEO Martin Lundstedt: "Europe must take action"

Europe has fallen behind the USA and Asia. This is one of the reasons why the sales of both electric cars and electric trucks have stalled, believes AB Volvo's CEO Martin Lundstedt.

Volvo's CEO Martin Lundstedt: "Europe must take action"

Crisis meeting about the pressured automotive industry in Germany

The government in Germany has called an emergency meeting due to the increasingly pressured automotive industry in the country. Ahead of the meeting, however, the governing parties are divided on what to do.

Crisis meeting about the pressured automotive industry in Germany

The Crisis for Electric Cars - "Rather an Adjustment"

Declining sales, halted investments, scrapped targets, lowered forecasts, and cutbacks. The electric car industry in Europe is facing headwinds.

The Crisis for Electric Cars - "Rather an Adjustment"

German Minister Robert Habeck Considers Support for the Car Industry

Germany's Minister of Economy Robert Habeck says that support measures for the German car industry may become relevant, in connection with a visit to an electric car factory in northwestern Germany. The statement is made ahead of a meeting with the top executives of the German car manufacturers on Monday.

German Minister Robert Habeck Considers Support for the Car Industry

The title in English is: Share price fall for Mercedes after profit warning

The German car manufacturer Mercedes' share falls hard – down by almost 8 percent on the Frankfurt Stock Exchange. The share price fall comes after the German car manufacturer on Thursday lowered its profit forecast for 2024.

The title in English is: Share price fall for Mercedes after profit warning

Setback for Electric Car Demand in Europe

Battery-powered electric cars are booming in new car sales in the EU, fresh figures show. The industry organization ACEA is sounding the alarm and demanding that the EU scraps tightened emission regulations and reconsiders the phase-out of fossil-fuelled cars.

Setback for Electric Car Demand in Europe

VW to close car factory in China by 2025

The German vehicle manufacturer Volkswagen (VW), Europe's largest car manufacturer, plans to close a factory in Nanjing, China, which it operates together with the Chinese company SAIC Motor. Production may stop as early as 2025, reports the news agency Bloomberg, citing sources.

VW to close car factory in China by 2025

Northvolt receives support from Volkswagen

Crisis-stricken Northvolt is supported by one of its major shareholders, German Volkswagen. To the news agency Bloomberg, a spokesperson states that the company is now backing Northvolt's production plans.

Northvolt receives support from Volkswagen