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German economy continues to shrink

The EU's economic engine, the German economy, contracted for the second year in a row in 2024, according to the country's statistics agency Destatis. And no major recovery for the export-dependent economy is expected to come in 2025.

German economy continues to shrink

The meeting may mark the beginning of the end for Northvolt

After a 2024 marked by skyrocketing losses, production problems, massive layoffs, and bankruptcy protection, the owner of the battery manufacturer Northvolt will now have their say. An extraordinary general meeting will decide today whether it's time to give up the attempts to save the company.

The meeting may mark the beginning of the end for Northvolt

Volkswagen to cut 35,000 jobs in Germany

Volkswagen has, after a long struggle, agreed with the unions on reduced production in factories in Germany to avoid closures and mass layoffs. According to the company, the workforce will simultaneously be radically reduced within five years.

Volkswagen to cut 35,000 jobs in Germany

Second wave of major strike awaits Volkswagen

The already heavily pressured car group Volkswagen (VW) is facing a second wave of warning strikes that will be launched at nine factories in Germany on Monday. .

Second wave of major strike awaits Volkswagen

VW CEO: The situation is serious

The union demands in the negotiations about historic cutbacks in Germany are not enough, according to Oliver Blume, CEO of crisis-stricken German Volkswagen (VW). .

VW CEO: The situation is serious

Heavy pressure downward on car stocks

Car manufacturers' shares are being heavily pressed down on European stock exchanges, also on the Stockholm Stock Exchange where Volvo Cars is falling by 2. 4 percent.

Heavy pressure downward on car stocks

Metal Workers Union Forces VW with Major Strike

The German car giant Volkswagen's plans for cutbacks are facing strong union resistance. Now, the powerful trade union IG Metall is calling for a "warning strike".

Metal Workers Union Forces VW with Major Strike

He becomes new finance chief at Scania

The Södertälje-based truck manufacturer Scania has recruited Do Young Kim as new CFO. He is expected to take office on 1 February 2025, writes Scania in a press release.

He becomes new finance chief at Scania

Rivian gets giant loan for new electric car factory

The American electric vehicle manufacturer Rivian has received approval for a conditional loan of 6. 6 billion dollars (equivalent to 73 billion kronor) from a support program at the US Department of Energy.

Rivian gets giant loan for new electric car factory

Major Shareholders Expect a Northvolt Shock

Northvolt's major shareholders are expecting a significant blow in the reconstruction that the crisis-stricken battery manufacturer wants to implement. The largest owner, German Volkswagen (VW), has written down most of the value of its holding, reports Reuters citing sources.

Major Shareholders Expect a Northvolt Shock

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

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

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

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

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

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

Volkswagen considers closing German factories

The venerable German Volkswagen (VW) is considering closing down factories in Germany for the first time in the company's 87-year history. The purpose would be to reduce costs.

Volkswagen considers closing German factories

VW considers closing large electric car factory

The German vehicle concern Volkswagen's share is rising by over 1 percent after the announcement that they are considering closing the subsidiary Audi's electric car factory near Brussels to save costs. Unexpectedly weak demand is behind the announcement.

VW considers closing large electric car factory