Volkswagen Ag Stock News

Germany’s Volkswagen Group has decided to stop production at its facilities in Russia, as well as export of vehicles to the country due to the situation in Ukraine, the company reported via Twitter on Thursday, Trend reports with reference to TASS.

Volkswagen said Thursday it will cease operations in Russia until further notice, citing “extensive disruption” from the war in Ukraine. The German automaker will suspend production at Kaluga and Nizhny Novgorod and stop vehicle exports to Russia. “The Volkswagen Group has received the news about the war in Ukraine with …

The group has stopped the production of vehicles in Russia until further notice

WARSAW — Volkswagen has temporarily suspended production at two plants in Poland due to supply chain disruptions caused by the war in Ukraine, the company said on Thursday. Delivery bottlenecks have already hit some other assembly plants of the world’s No. 2 automaker, while Porsche’s luxury unit has suspended production at its Leipzig plant and […]

Felicity Ace, which was carrying nearly 4,000 luxury cars like Porsches, Lamborghinis, Bentleys and Volkswagen, along with several high-end electric vehicles, sank about 400 kilometres (250 miles) off Portugal’s Azores Islands as it was being towed, MOL Ship Management in Singapore said in a statement.

NEW YORK: Ford announced yesterday it is creating separate businesses for its conventional and electric-auto operations, as it accelerates its build-out of emission-free vehicles. Under the plan, which sent Ford shares sharply higher, the conventional internal combustion operations will be known as “Ford Blue,“ while the electric vehicle (EV) products will be run through “Ford Model e.” The reorganisation, while significant, keeps both operations under the same corporate roof and avoids a potential spin-off that had generated speculation on Wall Street. “Our legacy organisation has been holding us back,” said chief executive Jim Farley. “We had to change.” Ford said the intention is to give the EV venture “the focus and speed of a startup”, while the conventional business will try to excel at the challenges of a mature business, “relentlessly attacking costs, simplifying operations and improving quality”. The two ventures will each have distinct executive leadership and report their own financial results.

Mercedes-Benz said Wednesday it was suspending vehicle exports to Russia and local production in the country, becoming the latest carmaker to respond to Moscow''s invasion of Ukraine.

Volkswagen Group has stalled production in Germany, citing an inability to obtain sufficient parts from Ukraine. The automaker reportedly is lacking sufficient electrical components for its Zwickau-Mosel plant and the Dresden-based “Transparent Factory” — both of which are responsible for manufacturing VW and Audi-branded electric vehicles.

Volkswagen had VW, Porsche, Audi, Bentley and Lamborghini-branded models on the vessel

BERLIN (Reuters) – Volkswagen’s Porsche is suspending production at its Leipzig plant until the end of next week as a result of the Ukraine crisis, a spokesperson for the luxury carmaker said on Wednesday, adding production in Zuffenhausen would continue.

BERLIN (Reuters) – Volkswagen’s Porsche is suspending production at its Leipzig plant until the end of next week as a result of the Ukraine crisis, a spokesperson for the luxury carmaker said on Wednesday, adding production in Zuffenhausen would continue. Parent Volkswagen a day earlier warned of production cuts at some of its plants including … Read More

Highlights Aston Martin and Jaguar have halted their Russian vehicle shipments due to the ongoing Russia-Ukraine war. Car sales in Russia and Ukraine don’t even account for 1% of Aston Martin’s global sales. British luxury carmaker Aston Martin ( LON: AML ) has halted its Russian vehicle shipments due to the ongoing Russia-Ukraine war. The car industry has been facing several trading hurdles last two year, first Covid-related hurdles and now the current geopolitical situation, which has led to Aston Martin and several other global carmakers to pause their deliveries to Russia. Impact of sanctions Aston Martin and UK-based luxury car maker Jaguar Land Rover (JLR) have put a pause on their vehicle deliveries to Russia, and this decision has been welcomed by the UK Government. Russia’s aggression has led to Governments as well as businesses across the globe to levy sanctions on the country to isolate it. Major global car makers which have stopped delivering to Russia include Volvo, Volkswagen, Renault etc.

San Francisco, March 2 (IANS) Nearly 4,000 luxury cars like Porsches, Lamborghinis, Bentleys and Volkswagen — along with several high-end electric vehicles — have sunk aboard a cargo ship in the Atlantic that caught fire last month. Felicity Ace ship was carrying both electric and non-electric vehicles, and a fire broke out on the ship […] The post 4,000 luxury cars like Lamborghinis, Bentleys sink in the Atlantic appeared first on Buziness Bytes .

Cargo Ship Carrying 4,000 Luxury Cars Sinks In Heavy Seas Two weeks after a roll-on-roll-off (RORO) car carrier loaded with thousands of Volkswagen AG vehicles, including VW, Porsche, Audi, Bentley, and Lamborghini- branded models, caught fire in the Atlantic Ocean, it sunk Tuesday morning, according to Bloomberg . We chronicled the incident last month (read: here & here ), noting that the shipment of luxury vehicles had been bound for the US market, where a shortage of supply and surging demand has led to a severe crunch of new car supply. Now the 656-foot long RORO, called Felicity Ace, has sunk to the bottom of the ocean, about 220 nautical miles off the coast of Portugal''s Azores Islands, around 0900 local time. The RORO was severely damaged from a fire that broke out on Feb. 16 and was leaning 45 degrees to its starboard side as a fleet of tug boats and salvage craft accompanied the vessel as it was being towed back to shore. The ship sank due to rough seas: "The weather was pretty rough out there," Pat Adamson, a spokesperson for MOL Ship Management (Singapore), a unit of Mitsui OSK Lines Ltd., said by phone. "And then she sank, which was a surprise." Volkswagen had 4,000 vehicles on board, and vessels in the area monitored the situation.

A large cargo ship that was carrying luxury cars from Germany to the U.S. sank Tuesday in the mid-Atlantic — nearly two weeks after a fire broke on board, according to Portuguese Navy officials. Officials confirmed that the ship, Felicity Ace, lost stability and sank about 250 miles off Portugal''s Azores Islands as it was being towed to land. The ship sank in a location outside of Portugal''s economic zone, an area that''s nearly two miles deep. In its statement, the Portuguese Navy said only a few pieces of debris and a small amount of oil were visible where the ship sank and tugboats were breaking up the patch of oil with hoses. One of the vessels that had been monitoring the Felicity Ace was en route to Ponta Delgada in the Azores to pick up pollution containment equipment, Portuguese Navy officials said. The 650-foot-long vessel is capable of carrying 4,000 cars. It is unclear how many vehicles were on board the ship. The European auto manufacturers declined to comment regarding exactly how many cars and what models were on board the ship, The Associated Press reported .