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Volkswagen wants to sell large stake in Traton
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Volkswagen wants to sell large stake in Traton

German economy continues to shrink
Business News

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
The meeting may mark the beginning of the end for Northvolt
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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
Volkswagen to cut 35,000 jobs in Germany
Business News

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
Second wave of major strike awaits Volkswagen
Business News

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.
VW CEO: The situation is serious
Business News

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).
Heavy pressure downward on car stocks
Business News

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
Metal Workers Union Forces VW with Major Strike
Business News

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"
He becomes new finance chief at Scania
Business News

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
Rivian gets giant loan for new electric car factory
Business News

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
Major Shareholders Expect a Northvolt Shock
Business NewsTop News

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
The VW Union Takes a Stand Against Factory Closures
Business News

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
VW: In close contact with Northvolt
Business News

VW: In close contact with Northvolt

Full speed in the factory – but order intake is plummeting
Business News

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
BMW does not want to invest more in Northvolt
Business News

BMW does not want to invest more in Northvolt

Northvolt owner: The situation is serious
Business NewsTop News

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
The Crisis for Electric Cars - "Rather an Adjustment"
Business News

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
German Minister Robert Habeck Considers Support for the Car Industry
Business News

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
Share price fall for Mercedes after profit warning
Business News

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
VW to close car factory in China by 2025
Business News

VW to close car factory in China by 2025

Volkswagen considers closing German factories
Business News

Volkswagen considers closing German factories

VW considers closing large electric car factory
Business News

VW considers closing large electric car factory

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