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Volkswagen Group

All articles tagged with #volkswagen group

automotive1 hour ago•0 min saved

Scout Reveals 800 HP for Extended-Range Traveler as South Carolina Plant Nears Completion

Scout Motors CEO Scott Keogh confirmed the extended-range Traveler SUV will produce 800 horsepower and 1,000 lb-ft of torque, offering 500 miles of total range. The company’s $2 billion South Carolina plant is in its final construction phase, with validation vehicles now moving through assembly lines. Scout has secured 212,000 reservations, with 87% favoring the hybrid model, and aims to begin customer deliveries in 2028.

via The Drive|

#automotive #electric-vehicles #extended-range-ev

automotive1 day ago•1 min saved

Scout Motors Starts Building Validation Vehicles at $2B South Carolina Plant

Scout Motors has begun assembling validation vehicles for its Terra pickup and Traveler SUV at its new $2 billion facility in Blythewood, South Carolina. This marks the transition from construction to early manufacturing, with full customer deliveries targeted for 2028. The company reports 212,000 reservations, with a strong preference for extended-range electric models.

via Motor1.com|

#automotive #electric-vehicles #manufacturing

automotive15 days ago•3 min saved

VW Group Admits EV Sales Are Eroding Profits Amid Tariff and China Pressures

Volkswagen Group’s nine-month results reveal that while electric vehicle (EV) demand is rising, these sales are generating significantly lower profits than combustion-engine cars. CFO Arno Antlitz confirmed that the shift to EVs is squeezing margins, exacerbated by U.S. tariffs, aggressive Chinese pricing, and a shrinking Chinese market. To address this, the group is launching a €31 billion cost-cutting program, potentially cutting up to 100,000 jobs and retiring half of its model lineup. The company faces a regulatory dilemma: it must sell more low-margin EVs to meet EU emissions targets and avoid fines, even though these vehicles hurt overall profitability.

via Motor1.com|

#automotive #corporate-earnings #cost-cutting

automotive1 month ago•12 min saved

Bentley Torcal Launches as First EV, Defying Industry Pullback

Bentley has launched the Torcal, its first fully electric SUV, priced at £173,300 (approx. $229,500). The vehicle offers up to 876 horsepower and a 375-mile range, aiming to attract younger buyers while maintaining luxury standards. Production begins in 2027 at the Crewe plant, securing 4,000 jobs.

via Autonocion.com|

#automotive #bentley-torcal #crewe-plant

automotive1 month ago•4 min saved

Bentley Unveils Torcal EV: A Cheaper, Faster Alternative to Ferrari's Luce

Bentley has launched the Torcal, its first electric vehicle, priced at £173,300. This is significantly cheaper than Ferrari's Luce, which starts at €550,000. The Torcal offers up to 600km of range and 876 horsepower in its top trim. Production begins in 2027 at Bentley's Crewe plant, supporting 4,000 jobs. The launch aims to attract younger buyers and first-time customers amid a challenging market for luxury EVs.

via Financial Times|

#automotive #bentley-torcal #electric-vehicles

automotive1 month ago•3 min saved

Bentley Torcal Launches as First EV, Priced Below Bentayga

Bentley has unveiled the Torcal, its first fully electric SUV, which shares a platform with the Porsche Cayenne Electric but features a distinct design and synthetic engine sounds. Priced starting at £165,000, it is cheaper than the current Bentayga and aims to attract younger buyers. The vehicle offers up to 876 horsepower and 375 miles of range, with a 10-80% charge time of 16 minutes. Production will occur at the Crewe factory, securing 4,000 jobs, though Bentley has scaled back its broader EV roadmap due to weak demand.

via motor1.com|

#automotive #bentley #crewe-factory

automotive2 months ago•1 min saved

Porsche Finalizes Bugatti Sale, Ending 30-Year VW Group Era

Porsche has officially sold its stakes in Bugatti Rimac and Rimac Group, concluding nearly three decades of Volkswagen Group involvement with the French hypercar brand. The transaction, completed on September 9, 2026, yields approximately €1 billion for Porsche, with €250 million allocated to pension obligations. This divestiture marks a strategic pivot for Porsche toward core products and a new era for Bugatti under the leadership of Mate Rimac and a new investor consortium.

via Motor1.com|

#automotive #bugatti #manda

business4 months ago•6 min saved

VW Group Plans to Slash Half Its Model Lineup by 2030

Volkswagen Group is reportedly targeting a 50% reduction in its current model lineup by 2030 as part of a broad cost-cutting push, with Bild listing ten models across VW, Porsche, Audi, Skoda, and Cupra that could be retired. If implemented, total options could shrink by about 75% by decade's end and annual production capacity could fall from 10 million to 9 million. VW has not confirmed the rumors, stating it does not comment on speculation, with more details expected later this year.

via Motor1.com|

#audi #business #cost-cutting

business4 months ago•3 min saved

VW Group Faces Slump as China Drags Down Global Sales

Volkswagen Group fell 8.6% in Q2 and 6.3% for the year, led by a 36.6% drop in China, despite gains in Latin America, Europe, and improving North American results. The company announced a drastic lineup downsizing of up to 50% and a reduction of annual production capacity from 12 million to 9 million, with rumors of plant closures and as many as 100,000 layoffs amid broader industry pressures.

via Motor1.com|

#business #china-market #portfolio-downsizing

business4 months ago•3 min saved

VW Group Slashes Lineup by Half, Trims Options, Sets 9 Million-Aunit Target

The VW Group announced an immediate, sweeping downsizing: cut its model lineup by up to 50% and reduce available options by up to 75%, while limiting annual production to nine million units. Several models have already been dropped across brands (Touareg, Touran, T-Roc Convertible; Audi A1, Q2, TT, R8, Q8 E-Tron; Porsche 718 Boxster/Cayman; Macan). The plan signals a focus on the most profitable, high-value products, with upstream talk of plant closures and larger layoffs circulating but not officially confirmed. The shift follows post-COVID capacity reductions from around 12 million to 9 million and represents a radical reorientation for the group across VW, Audi, SEAT, Cupra, Skoda, Porsche, Bentley, and Lamborghini.

via Motor1.com|

#automotive-industry #business #model-lineup

sports1 year ago•2 min saved

Qatar Acquires Stake in Audi's Formula 1 Team

The Qatar Investment Authority (QIA) has acquired a significant minority stake in Sauber Holding AG, the future Audi Formula 1 team, providing a substantial capital injection to enhance infrastructure and recruitment. This investment, part of Audi's strategy to strengthen its F1 project, will be finalized by mid-2025, with QIA gaining a board seat. Audi CEO Gernot Döllner emphasized the importance of this partnership in achieving the team's long-term goals and becoming a top competitor in F1 by 2026.

via RACER|

#audi-f1 #formula-1 #qatar-investment-authority

automotive2 years ago•6 min saved

"Scout Motors: Pioneering Electric Vehicles and Breaking Ground in South Carolina"

Scout Motors CEO Scott Keogh discusses the revival of the Scout name for a new fully electric truck and SUV, emphasizing the brand's historical significance and unique design. The company, operating as a startup under the Volkswagen Group, aims to stay true to the original brand while leveraging the backing of VW for production benefits. The new Scouts will be tailored for the American market, with plans for aftermarket accessories and a focus on authenticity and community appeal. The factory in South Carolina will begin production in 2026, with potential for over 200,000 vehicles per year and 4,000 new jobs, but many details about the vehicles, including sales strategy and performance targets, are yet to be revealed.

via Jalopnik|

#automotive #electric-trucks #manufacturing

businesstechnology2 years ago•6 min saved

"Scout Motors Begins Construction of All-Electric Off-Road Truck Facility in South Carolina"

Scout Motors has broken ground on its US facility in Blythewood, South Carolina, where it will produce its all-electric off-road trucks, reviving the classic Scout brand from the '60s and '70s. The company, backed by Volkswagen Group, aims to deliver rugged, off-road performance in a modern, all-electric package. The facility is expected to produce over 200,000 electric trucks per year and will rely on green energy alternatives to achieve carbon neutrality. Scout plans to debut two bespoke EV models this summer, with a focus on creating a unique and robust vehicle for the US market.

via Electrek.co|

#businesstechnology #electric-trucks #off-road-vehicles

business2 years ago•1 min saved

"Toyota Maintains Global Dominance in 2023 with Record Sales"

Toyota Motor sold a record 11.2 million vehicles in 2023, maintaining its position as the world's top-selling automaker for the fourth consecutive year. The company reported a 7.2% increase in global group sales, with overseas sales reaching 8.9 million vehicles. Despite competition from Volkswagen Group, which saw a 12% rise in deliveries, Toyota's parent-only vehicles, including its namesake and Lexus brands, achieved a record of 10.3 million vehicles sold in 2023, with gasoline-electric hybrids comprising about a third of the sales.

via Reuters|

#automaker #business #global

business3 years ago•2 min saved

Volkswagen Group Appoints Gernot Döllner as New Audi CEO, Replacing Markus Duesmann

Audi CEO Markus Duesmann is being replaced by Gernot Döllner, a Volkswagen Group executive, following a resolution by the automaker's supervisory board. Duesmann, who has been acting CEO since 2020, has been criticized for Audi's performance compared to its luxury competitors. Döllner, who has been with Volkswagen Group since 1993, will officially take over as CEO on September 1, 2023. The board expects Döllner to strengthen Audi's product strategy and position in key markets, with a focus on electrification.

via Electrek.co|

#audi #business #ceo