German prosecutors impose fine of $35M on Porsche for cheating diesel emission tests

Porsche clearly aims to move past the dieselgate scandal and has chosen not to appeal the fine. German prosecutors have imposed a fine of $598 million (535 million euro) on luxury carmaker Porsche AG, a unit of Volkswagen, for lapses in supervisory duties which allowed the company to cheat diesel emissions tests. According to the…

Prices of small electric to shoot up significantly: VW’s chairman

With next generation electromobility options coming packed with sensors and electronics, input costs have rise significantly. Adding to that pressure is the EU’s push to meet tougher-than-expected greenhouse gas emissions targets which aims to bring it down by 37.5% by 2030. In an interview to German newspaper Welt am Sonntag, Volkswagen’s chairman Hans-Dieter Poetsch stated,…

China’s electric vehicle policy will make it global automotive powerhouse

With Beijing’s policymakers and regulators intent on transitioning from fossil fuel powered vehicles to more electric vehicles, China is set to become the automotive powerhouses in the world. In a development aimed at accelerating the adoption of electric vehicles, automakers from across the globe are planning a $300 billion surge in their spending on electric…

VW purchases 75.1% stake in Volvo’s WirelessCar platform

The forward-looking purchase of the stake is of strategic significance as it revolves around the future of mobility. In a strategic move, Volkswagen has purchased a controlling stake in Volvo’s WirelessCar, a digital service developer which specializes in connected driving, for $122 million (1.1 billion Swedish crowns). In a statement Volkswagen stated, WirelessCar’s technology would…