In This Story The world’s largest EV battery maker just shook the global financing stage with its IPO in Hong Kong. CATL, or Contemporary Amperex Technology Co., Ltd., saw its shares surge 16% on Tuesday, raising $4.6 billion in the world’s largest public offering so far this year. How Trump’s tariffs could make your iPhone…
Recent reports from Europe points to German automaker Audi moving some vehicle manufacturing to the U.S. to avoid the newly-enacted tariffs by the Trump administration. Audi, Volkswagen and Porsche are all part of the Volkswagen Group, which also sports other boutique brands such as Bentley and Lamborghini. Audi and Porsche vehicles are assembled in…
Iconic Volkswagen microbus gets an electric revival – CBS News Watch CBS News Today marks 75 years since Volkswagen first began manufacturing its beetle-based “bus.” For those of a certain generation, the microbus is one of the most recognizable and beloved vehicles to ever roll down the road. Carter Evans reports that some are charged…
Photo: BING-JHEN HONG (Getty Images) The escalating chip war between the U.S. and China, compounded by a series of retaliatory tariffs, is poised to have far-reaching consequences for the global AI industry. Major AI stocks in the U.S., including Nvidia (NVDA), Super Micro Computer (SMCI), and Advanced Micro Devices (AMD), continued to climb Wednesday. However,…
By John O’Donnell and Victoria Waldersee FRANKFURT/BERLIN (Reuters) – Chinese officials and automakers are eyeing German factories slated for closure and are particularly interested in Volkswagen’s sites, a person with knowledge of Chinese government thinking told Reuters. Buying a factory would allow China to build influence in Germany’s prized auto industry, home to some of…
In the U.S., General Motors said this month it was taking $5 billion in charges related to its China business. In Germany, Volkswagen is planning to close factories and cut tens of thousands of employees. One of the underlying causes is the hit to VW’s profits from lost market share in China. Three fundamental facts…
Executives of those companies scoff at all this. Many say they now struggle to justify investing in the country and talk instead of cutting staff. In a recent survey by the American Chamber of Commerce in Shanghai, less than half of respondents said they were optimistic about the prospects for their business in China over…
FRANKFURT (Reuters) – Volkswagen and labour representatives will hold a fourth round of talks over wage cuts and possible plant closures, in what has become an increasingly bitter standoff that will be flanked by strikes at the carmaker’s main German sites on Monday. The latest round of negotiations, which initially kicked off in September, comes…
As the world hurtles towards four more years of geopolitical chaos, it is often said in EU capitals that Europe is at a crossroads. The facts at hand suggest that the intersection is much more complicated, and Europe is on a slip road towards a spaghetti junction. At a moment of intense geopolitical upheaval and…
SHANGHAI — Volkswagen will exit its controversial plant in China’s Xinjiang region, after years of investor pressure to abandon its presence in the region, where rights groups have documented abuses including mass forced labor in detention camps. Volkswagen and its Chinese partner agreed to sell the asset to a Shanghai government-owned buyer, the German car…