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The VW Union Takes a Stand Against Factory Closures

Trade union leaders at German Volkswagen (VW) are proposing new cost-cutting measures of 1. 5 billion euros (equivalent to 17.

The VW Union Takes a Stand Against Factory Closures

VW: In close contact with Northvolt

Volkswagen (VW) is as a major customer in close contact with the crisis-stricken Swedish battery manufacturer Northvolt, according to a spokesperson for the German automotive group. The spokesperson adds that VW from that perspective supports the industrial investment in increased production in existing facilities in Skellefteå.

VW: In close contact with Northvolt

Northvolt in crisis - "Dialogue is ongoing"

The crisis-stricken battery manufacturer Northvolt is considering applying for bankruptcy protection or bankruptcy, according to several media outlets citing sources. "The dialogue about future financing is ongoing," writes the company's press spokesperson Erik Zsiga to TT about the reports.

Northvolt in crisis - "Dialogue is ongoing"

Northvolt sells factory in California

The battery manufacturer Northvolt is selling a factory facility in San Leandro, California, to the American battery company Lyten. No price tag has been disclosed by Northvolt, whose hunt for new billions to address short- and long-term challenges continues.

Northvolt sells factory in California

Largest Owner Leaves Northvolt's Board

The largest owner Volkswagen's representative is leaving Northvolt's board, writes Dagens industri. The Companies Registration Office confirms the information to Di, that VW's investment chief Sven Fuhrmann has requested to leave the crisis-stricken battery company.

Largest Owner Leaves Northvolt's Board

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"