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- Prosecutors searched four Volkswagen locations including its Wolfsburg headquarters on allegations of excessive renumerations to members of the Works Council.
- Volkswagen said it will cooperate with the prosecutors.
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Volkswagen now say the Trinity project will likely go to the Zwickau plant.
"During the plant allocation planning, it was decided that there was no need to build an additional plant in Wolfsburg Warmenau. Instead, new electric models based on the SSP architecture (scalable systems platform), that will be introduced at the end of the decade, will be integrated into existing and modernized structures at the main plant. The high-volume VW icon Golf is also to be led into the electric future here on an SSP basis. As things stand today, the Trinity vehicle project originally planned for Wolfsburg will go to the Zwickau plant, " Volkswagen said in a statement.
- Trinity project was scheduled to start in 2026, but to relieve pressure on struggling CARIAD, CEO Oliver Blume pushed it to 2028.
- Trinity project, which has up to level 4 autonomous driving, is based on SSP platform that offers energy power of up to 1,300KW and charging time of around 12 minutes.
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Volkswagen plants affected by Slovenia floods will resume production next week.
“Starting next week, the producing plants will be back in regular operation,” its spokeswoman said. “By then all restrictions will have been removed.”
https://www.automobilwoche.de/agenturmeldungen/nach-teilemangel-vw-fahrt-produktion-wieder-hoch
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- Volkswagen stops production of Audi Q4 E-tron, the Audi Q4 Sportback E-tron, ID4 and ID5 at its Zwickau plant for about three weeks due to shortage of electric motors.
- VW ID3 and Cupra Born models will not be affected by the supply-chain problem, and their production will continue as planned.
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- Volkswagen has also halted production of ID.4 and ID.7 at its Emden plant due to the lack of electric motors.
- Production at the EMden plant will be suspended for five days and over the weekend.
- The missing motor, APP550, replaced the 150 kW PSM on the rear axle and is used in vehicles affected in Emden and Zwickau plants…
- APP550 has higher efficiency and range, and is manufactured at VW component plant in Kassel, which has been experiencing distruptions in supply chain.
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As of this week, ID.3 and Cupra Born models are produced in two shifts instead of three.
“Depending on the market situation, both production lines can be converted to classic two-shift operation with early and late shifts next year,” a spokesperson responded to dpa. “The decision ensures productive driving and the future viability of the location.”
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Skoda also expects production delays for its Enyaq electric models in November and December due to supply chain bottlenecks, Handelsblatt reported.
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- Volkswagen hikes wages of its Chattanooga assembly plant workers by 11% following record contracts achieved by the United Auto Workers union (UAW) in late October.
- Based in Tennessee, Chattanooga plant employs 3,800 workers.
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VW brand CEO Thomas Schaefer said he is "very worried"about the company’s operations in South Africa due to persistent power cuts and logistics problems that have increased operating costs.
“Eventually you have to say, why are we building cars in a less competitive factory somewhere far away from the real market where the consumption is?” Schaefer said. “I’m very worried about it … We’re not in the business of charity,” he said.
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In 2022, Volkswagen produced about 132,000 Polo and Vivo models at its Uitenhage plant in South Africa, most of them for export.
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An audit of a jointly owned Xinjiang plant commissioned by Volkswagen and conducted by Loening Human Rights & Responsible Business GmbH found no signs of forced labour.
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Loening pointed out that the challenges in conducting the audit in China were widely known.
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In November 2022, MSCI Index gave Volkswagen a “red flag” on social issues.
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Citi analysts believe that the findings could help Volkswagen stock regain a significant portion of its underperformance.
“If this audit conclusion satisfies MSCI, and the ‘red flag’ is removed, many EU investors currently not allowed to own any VW shares given ESG metrics, may now buy back at least some exposure,” Citi said in a note.
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According to Volkswagen, the audit was conducted in line with SA8000 standard, an international human rights system developed by SAI, but Loaning is not listed on SAI’s website as an accredited body that can provide such certifications.
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MSCI removes red flag warning on Volkswagen following Xinjiang audit.
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Sales of Porche Macan with a petrol engine in the EU will stop in the spring of 2024 (earlier than planned) due to a new cybersecurity regulation.
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The regulation requires car makers to document and certify processes that improves cybersecurity prior to development phase.
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Around 30% (or 76,556) of Porche vehicles were delivered to EU customers in the nine months of 2023.
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Porche doesn’t break down model deliveries to each region but 68,354 Porche Macan vehicles were delivered worldwide in the nine months of 2023.
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- Volkswagen Supervisory Board agreed to tie the management board’s performance bonuses to the company’s absolute net cash flow from 2024, CFO Arno Antlitz announced in a Linkedin post.
- The net cash flow metric will replaces “Operating Profit including China" metric and complements “Return on Sales” and “Achievement of ESG Goals” metrics.
- Plans to alter the management renumeration structure were first announced during the company’s capital markets day.
Assessment
I think it’s a good idea to include cash flow as one of the performance metric, especially since Volkswagen net cash fow hasn’t performed so well this year. Also, the “operating profit” metric is already accounted in “Return on Sales.” It’s also good to see Volkswagen implementing the plans announced at its capital markets day.
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- Volkswagen said it will install ChatGPT into its MEB and MQB evo vehicles starting from the second quarter of 2024.
- ChatGPT will be integrated to IDA in-car voice assistant to facilitate communication between the driver and the vehicle.
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Stifel analyst Daniel Schwarz said Volkswagen delivered a confident message regarding Q4 2023 and 2024 during a recent call with analysts. As a result, consensus estimates seemed too low, he said.
“Our take-away is clearly positive regarding Q4 and 2024. VW says that Q4 revenues benefit from higher unit sales,” he wrote in an email to clients. “VW made a few comments on 2024. S&P expects global volumes to increase by around 3% and VW should probably grow in line with that.”
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- Workers at Audi’s plant in Mexico are on strike after rejecting a 6.5% salary increase for this year.
- The worker’s union Sitaudi, which represents more than 4,000 workers had asked for a 15.5% salary increase.
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Volkswagen Group establishes its own AI lab.
“We want to offer our customers genuine added value with artificial intelligence. We aim to link external digital ecosystems with the vehicle, creating an even better product experience,” says Oliver Blume, CEO of the Volkswagen Group and Porsche AG. “Collaboration with technology companies is crucially important for us. In future, we intend to simplify cooperation in organizational and cultural terms.”
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Volkswagen doesn’t plan to manufacture any production models but plans to hold talks with partners on licensing their proprietary AI technology.
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Some of the AI solutions that will be persued include optimizing electric vehicles charging, predictive vehicle maintenance and functions that link user’s digital systems with the vehicle.
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The AI Lab will have its own supervisory board with representatives from Volkswagen, Audi and Porsche.
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- Reuters reported that Volkswagen is in discussions with its Chinese joint venture SAIC Motor regarding its presence in the Xinjiang province following new reports of forced labor.
- Researcher Adrian Zenz’s report,cited by Handelsblatt provided evidence of forced labor.
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A post was merged into an existing topic: Volkswagen Deliveries
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Volkswagen faces two suits over claims that a battery in its Porche Electric vehicle was responsible for a fire outbreak that destroyed a ship and its cargo worth atleast $155 million in 2022.