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The <keyword id="166267" type="General" weightage="50" keywordseo="volkswagen-group" source="Orion">Volkswagen Group</keyword> has announced that the company will adopt Elon Musk-run <keyword id="107096" type="General" weightage="100" keywordseo="tesla" source="Orion">Tesla</keyword>'s North American Charging Standard (NACS). The German automobile giant said late Tuesday that future vehicles in its portfolio of brands, including Audi, Porsche and the group's Scout Motors -- will get the NACS charge port built-in starting in 2025 in the US, reports Morningstar. According to <keyword id="6361865" type="General" weightage="50" keywordseo="volkswagen" source="Orion">Volkswagen</keyword>, the agreement with Tesla would provide customers with access to more than 15,000 Tesla rapid-charging stations in North America, known as the <keyword id="2634309" type="General" weightage="50" keywordseo="supercharger" source="Orion">Supercharger</keyword> network. It also mentioned more than 3,800 fast-charging outlets are already available to customers through Electrify America and Electrify Canada, a joint venture of Volkswagen and Siemens. Moreover, the report noted that the companies are exploring adaptors for existing owners as well. In May 2023, Ford announced that its EV owners would soon have access to approximately 12,000 Tesla chargers, initially via an adapter. Beginning in 2025, Ford's next generation of EVs will be integrated with Tesla's charging port known as the North American Charging Standard. Since then, major automakers, including GM, Rivian, Honda, Mercedes, Hyundai, Kia, <keyword id="6374528" type="General" weightage="50" keywordseo="toyota" source="Orion">Toyota</keyword>, and, most recently, Subaru have announced plans to use Tesla's charging standard. Lucid, a lesser premium EV manufacturer, stated in November that it would use the Tesla's charging standard. In February, the US administration revealed new initiatives to install 5,00,000 electric vehicle chargers on US roads by 2030 under its $7.5 billion plan, and as part of it, Tesla has committed to opening up 7,500 of its charging stations to non-Tesla vehicles by the end of 2024. SEE ALSO:<a href="https://www.businessinsider.in/sports/news/most-expensive-players-in-ipl-till-ipl-2024/slidelist/106147649.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/news/most-expensive-players-in-ipl-till-ipl-2024/slidelist/106147649.cms" target="_blank">Mitchell Starc to Yuvraj Singh, the most expensive players in IPL history</a><a href="https://www.businessinsider.in/tech/apps/news/list-of-features-introduced-by-whatsapp-in-2023/articleshow/106141000.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/list-of-features-introduced-by-whatsapp-in-2023/articleshow/106141000.cms" target="_blank">Multi-device support to chat lock – key features introduced by WhatsApp in 2023</a><a href="https://www.businessinsider.in/stock-market/webstories/new-ipos-in-the-market-at-year-end-2023-eight-companies-look-to-raise-4228-crore/slidelist/106125241.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/new-ipos-in-the-market-at-year-end-2023-eight-companies-look-to-raise-4228-crore/slidelist/106125241.cms" target="_blank">IPOs galore – Eight companies look to raise ₹4,228 crore as Nifty hits all-time high</a>

Volkswagen Group to adopt Tesla's EV charging standard

<ul><li>Things are slowly looking up for the auto industry as more and more people are opening up to buying both new and pre-owned vehicles due to safety concerns when it comes to using public transport.</li><li>Volkswagen has been witnessing an increase in enqueries and bookings since unlock has started.</li><li><keyword id="4669550" type="PERSON" weightage="20" keywordseo="Steffen-Knapp">Steffen Knapp</keyword>, Director, Volkswagen Passenger Cars India tells us how through meticulous planning, the brand is pretty much on track with its 2020 plans, both in terms of new car and pre-owned car sales.</li></ul>The auto industry had been witnessing a slump even before Covid-19 hit the world. The lockdown also saw businesses coming to a complete halt and the industry got another jolt. However, with the unlocking of the country, things are slowly picking up. Consumer sentiments, while still not at pre-Covid levels, are improving. Auto makers are witnessing more enquiries and bookings. Meanwhile, the lockdown and people’s increasing focus on safety has also led to an increased interest in buying vehicles so the past few months have also seen more and more people being open to buying pre-owned vehicles. According to reports, a recent survey by credit rating agency ICRA revealed that there has been a sequential recovery month-over-month in segments like passenger vehicles, two-wheelers and tractors. Auto makers are also looking forward to a good Diwali. We recently caught up with Steffen Knapp, Director, Volkswagen Passenger Cars India who told us how the brand has been getting back in the game. He discusses the strategies that helped them get over the difficult months of lockdown and how they are on track with their 2020 plans, whether new car or pre-owned car sales and their target of 150 sales outlets across the country. Excerpts: Q) The auto sector was witnessing a slowdown even before the pandemic hit. How have things been for you as an organization in the past few months? Undoubtedly, the Indian auto industry is under pressure and more so with the current situation market sentiments are at an all-time low. Having said that, we utilized the past few months to further strengthen our foundation and worked hard together with our key stakeholders – employees, dealer partners and customers to support them in times of crisis. With a clear focus on ensuring their safety, peace-of-mind and comfort, we extended financial and infrastructural support to our dealer partners, engaged with our employees via virtual trainings, product refreshers, quizzes and business activities to keep the momentum high. We ensured complete peace of mind for our discerning customers, ensuring- extension of warranties, door step services, mobile service units to add to their convenience. Even before the pandemic, one of our key focus areas was Digitalization and we ensured availability of online and secured sales and services for our customers. Overall, we believe there’s an opportunity to embrace the new normal and seek newer possibilities for us. Q) With shops reopening, and traffic coming back on roads, has there been a spike in enquiries, or people buying new cars? What kind of business impact has the lockdown had on the organization? While the initial phase of lockdown was a challenging time for all of us, our business preparedness at Volkswagen helped us align our strategy and brand priorities. We launched two new SUVs under our SUVW strategy – T-Roc &amp; Tiguan Allspace right before the nationwide lockdown was announced. In the last couple of months, our focus was specifically on our new products/models and we introduced <keyword id="10172000" type="COMPANY" weightage="20" keywordseo="polo-vento">Polo &amp; Vento</keyword> TSI edition and our newly launched 6-speed AT transmission. Now with markets slowly opening up, we observe an increase in level of inquiries and bookings across our product range. In fact, our latest SUV T-Roc which was launched in March this year is sold out and the bookings have been closed for the carline. Along with enquires on new cars, we have witnessed an increase in demand for our used-car business, <keyword id="888482" type="PERSON" weightage="20" keywordseo="Das-WeltAuto">Das WeltAuto</keyword> (DWA) given the increasing demand for personal mobility. The demand further depends on factors like financial stability and the growing trend of first-time buyers opting for pre-owned vehicles. For Volkswagen, our pre-owned car business is a key to meet the demand and supply of the discerning car buyers. The lockdown had severely impacted the ecosystem and in specific the supply-chain. However, with unlock guidelines announced by the authorities, we are resuming business slowly but steadily. Our India 2.0 plan is in intact and we are committed to our plans. Q) At the time when showrooms were completely shut, how were you still engaging with your consumers? How did you transform your business model to stay relevant in the consumer's life? First things first, we ensured safety and well-being of all our stakeholders and took decisive steps to ensure smooth functioning of business from home. As next steps, we made all our sales and services available via online platform including new car purchases, live demos, real-time service jobs etc. As for content, we completely focused our marketing efforts in digital space and assisted all our prospects with the required information or supported basis their need. The end-to-end digital retail channel integrated our 137 sales and 116 service touchpoints. We extended our digitization drive across our used-car segment to enable transparent and fair evaluation for customers to buy and sell cars through our Das WeltAuto website or Das WeltAuto Valuator App. With unlock guidelines, we resumed business operations in a staggered manner under our comprehensive #VWellness program to provide and maintain health, hygiene and sanitization standards across all our touchpoints. This is to ensure customer confidence &amp; trust in our brand &amp; network operations. Q) What has your broad marketing strategy been to navigate these adverse times? The nationwide lockdown led to a major shift towards digital platforms. In line with this, we accelerated all our campaigns and customer engagements program over our digital communication platforms.Due to the lockdown, print and OOH mediums took a backseat in our media planning. As for future plans, we will continue our efforts across the genres to ensure our message reaches out to the right audience and at the right time but of-course with efficiencies in place. Q) How has this year’s festive season been so far? The market is returning to pre-Covid levels, our sales are above last year’s retail volumes. We expect the upcoming festive season to bring-in some cheer to the market, in turn, improving consumer sentiments. We are expecting a strong festive period as customers demand will not only be driven in the new car segment but will also push the peddle for the pre-owned vehicle segment. Q) How are you working on expanding your reach and presence in India? Are you on track with your launch plans despite the impact of the lockdown? While the pandemic had deterred our plans for Q2 2020, it has also given the opportunity to accelerate other strategic initiatives. With meticulous planning, we are pretty much on track with our 2020 plans whether new car or pre-owned car sales. This year, we shall reach our target of 150 sales outlets across the country. We’re confident on our SUVW strategy of introducing four SUVs for the Indian market. We’ve launched two until now (Tiguan Allspace &amp; T-Roc) and are successful in terms of retail. Next year, will mark the year of the <keyword id="1489436" type="ORGANIZATION" weightage="20" keywordseo="Volkswagen-Taigun">Volkswagen Taigun</keyword> and we’re preparing extensively for its launch in 2021. Q) As a marketer and leader, what have been your learnings from the lockdown experience? As a marketer and leader, our biggest learning has been to stay connected and transparent whether with our employees, customers or dealer partners. Irrespective of the situation, it is important to take your people with you and provide them regular updates of your business. Thankfully, technology has been of great support throughout the lockdown, allowing you to stay connected. Q) From an industry perspective, what are a few things that need to be done to woo back people to the idea of buying new cars (There has been a spike in people buying used cars)? Accessible and individual mobility options, right financing schemes, safe and sanitized showrooms, engaging brand campaigns and digital retail opportunities can bring back customer interest. At this moment, customers are looking for affordable and customized solutions, professional experiences that make them feel comfortable in purchasing their preferred vehicle. In specific to the used car market, we’ve grown in double digits in our month-on-month retails vs. the same period last year. Keeping this in mind, we launched the DWA Excellence centers in five pilot cities with a growth expansion plan to 17 this year. The trained consultants will offer our customers curated experiences in-turn a valued proposition. Q) Where will the next phase of growth for Volkswagen come from? In the global scheme of things, how important is India as a market for Volkswagen? India is one of the priority markets for Volkswagen and as part of the India commitment, <keyword id="166267" type="COMPANY" weightage="20" keywordseo="Volkswagen-Group">Volkswagen Group</keyword> is investing €1 billion in the implementation of India 2.0 project, since mid - 2018. With the aim to reach a 3% market share within the next five years, Volkswagen India is focusing on its SUVW strategy. Late last year, we announced the launch of four SUVs in two years, out of which we’ve delivered two products for the Indian market. The T-Roc has been sold out and we have a successful campaign on the Tiguan Allspace. The other two will be launched next year (2021) with an extensive focus on the ‘Volkswagen Taigun’. The Taigun will re-define the segment in terms of design, technology and safety as its built on our MQB A0 IN platform, boasting a localization level of up to 93%.

We're pretty much on track with our 2020 plans, both in terms of new car and pre-owned car sales: Steffen Knapp, Volkswagen Passenger Cars India

<keyword id="8376978" type="UNKNOWN" weightage="20" keywordseo="Skoda-Auto-Volkswagen">Skoda Auto Volkswagen</keyword> India on Tuesday said it will suspend production at its <keyword id="143605" type="PERSON" weightage="20" keywordseo="Chakan-plant">Chakan plant</keyword> in Pune for a month from mid-December to mid-January in order to upgrade the facility for new range of products, according to sources. The company -- formerly known as Volkswagen India -- had earlier suspended production for a month from middle of October to mid-November. When contacted, the company spokesperson said it is taking the step to prepare for next generation of products within the INDIA 2.0 project. "Several upgrades are in progress at our facilities to accommodate changes in the production lines for MQB A0 IN platform. We are systematically planning our non-production days to sustainably meet our customer deliveries without any delay," the spokesperson said when asked about the suspension of work at the plant. While the spokesperson did not confirm the period of closure, industry sources confirmed the suspension of production from mid-December to align production in preparation of the new range of products. Earlier this year, <keyword id="166267" type="COMPANY" weightage="20" keywordseo="Volkswagen-Group">Volkswagen Group</keyword> India had received regulatory and statutory approvals to merge its three passenger car subsidiaries in the country into one entity which would be referred to as <keyword id="101122" type="CITY" weightage="20" keywordseo="skoda-auto">Skoda Auto</keyword> Volkswagen India. The merged entity, which includes Volkswagen India, Volkswagen Group Sales India and Skoda Auto India, is led by Gurpratap Boparai. The new company with a strong brand portfolio -- Skoda Auto, Volkswagen, Audi, <keyword id="45673" type="COMPANY" weightage="20" keywordseo="Porsche">Porsche</keyword> and Lamborghini -- is envisioned to serve across market segments and budgets. However, the group has been struggling to make its mark in the Indian mass market segment. In April-October period this year, Volkswagen India clocked sales of just 17,733 units, down 17.01 per cent from the year-ago period. On the other hand, Skoda Auto sold 8,114 units, down 18.2 per cent from the same period a year ago. The Pune-headquartered company operates two production facilities in Pune and Aurangabad, and has regional offices in Mumbai, New Delhi and other locations across the country. In July 2018, the Volkswagen Group announced investments of around EUR 1 billion as part of the India 2.0 project. In January this year, the company opened a new technology centre in Pune to develop vehicles based on the localised MQB-A0-IN subcompact platform, tailored to the requirements of local customers. As part of fresh model introduction strategy in the country, Skoda Auto Volkswagen India plans to drive in a mid-size SUV model which would be sold from both Skoda and Volkswagen sales outlets. MSS RKL RVK

Skoda Auto Volkswagen to suspend ops at Chakan plant for a month

Czech car maker <keyword id="101122" type="General" weightage="80" keywordseo="skoda-auto" source="Orion">Skoda Auto</keyword> has said <keyword id="3658" type="General" weightage="60" keywordseo="india" source="Orion">India</keyword> will become an export hub for the company as it is set to commence exports of vehicle kits for assembly in Vietnam from next year. The company, which posted a whopping 125 percent year-on-year surge in its vehicle sales at 53,721 units in 2022, also sounded hopeful of growing into double-digit this year as well. Similarly, <keyword id="166267" type="General" weightage="60" keywordseo="volkswagen-group" source="Orion">Volkswagen Group</keyword> sales grew 85.48 per cent year-on-year at 1,01,270 units in the previous calendar year. The Group is present through <keyword id="6361542" type="General" weightage="60" keywordseo="skoda" source="Orion">Skoda</keyword> Auto, <keyword id="6361865" type="General" weightage="80" keywordseo="volkswagen" source="Orion">Volkswagen</keyword>, Audi, Porsche and Lamborghini brands under Skoda Auto Volkswagen India Pvt Ltd (SAVWPIL). "India is an absolutely important market as part of our regional strategy of Skoda Auto, and India will become an export hub for Skoda," <keyword id="14798920" type="General" weightage="80" keywordseo="petr-solc" source="Orion">Petr Solc</keyword>, Brand Director at Skoda Auto India told PTI in an interaction. Volkswagen is already exporting vehicles from India to Mexico and South Africa while Skoda Auto is exporting to the Middle East and North Africa. "From next year we will start exporting vehicle kits for assembly in Vietnam," Solc stated. Export is already an important part and will continue to be an important part of the strategy for Skoda and Volkswagen, he stated. Noting that Skoda Auto India for the first time delivered more than 50,000 cars in the domestic market last year, he said "we would like to grow with the market or even faster and our ambition is to grow into double digits." He said that 2022 was specific for the company on account of the Slavia launch and added that "So, there was this kind of a one-time effect of any new model introduction." "Now, we have both models (all-new Slavia sedan and <keyword id="10576650" type="General" weightage="60" keywordseo="kushaq-suv" source="Orion">Kushaq SUV</keyword>) in the market and can now enjoy having both models for the full year in the market," he said. Solc said that the 7-seater updated SUV Kodiaq will also play a role in terms of the company's growth strategy, particularly when there is a much greater supply now. To a question on Audi, which at a point of time was the undisputed leader in the domestic premium luxury car market, Christian Cahn Von Seelen, Member of the Board for sales, marketing and digital at SAVWPIL said that its growth has been "impressive" in terms of volume in 2022 compared to the year earlier and that was still hampered significantly by the chip supply situations even in Europe. "So the growth of Audi is impressive, and we are definitely planning to continue...So as much (as) I think, I can say we will see loads of new product introductions here on the other side." On the company's EV foray in the Indian market, Solc said it depends on the development of the segment in the country. Late last month, the European car maker Skoda announced its EV roadmap, which includes six electric cars in a phased manner by 2026. "We as a manufacturer and Skoda, we will be ready. And if we see good traction, we are talking about the prognosis that the car market or the EV can go within 5-10 years, up to 20, maybe 30 per cent. We don't know necessarily," he said. "So this could be part, we would like to be also within that range, but depends again, on the response. If we see more manufacturers going, there is an infrastructure built here and there's an acceptance from the customers to buy electric cars, and we will be ready," he said. He said that the company is discussing which models it should bring in the future also to India as an EV. "And if we see the potential in the market, we will bring them as well. So I cannot say necessarily what the percentage will be. But if the market is going towards more than 20 per cent of the electric vehicles of the total market, we would like to penetrate within the EV segment," Solc added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/india-adds-1839-covid-infections-active-cases-down-to-25178/articleshow/100063997.cms">India adds 1,839 Covid infections, active cases down to 25,178</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-group-stocks-tumble-after-msci-tweak-market-capitalisation-falls-by-23000-crore/articleshow/100066101.cms">Adani group stocks tumble after MSCI tweak, market capitalisation falls by ₹23,000 crore</a>

India to become export hub for Skoda Auto from next year, says co-official

Skoda Auto Volkswagen India on Tuesday said it will suspend production at its <keyword id="143605" type="PERSON" weightage="20" keywordseo="Chakan-plant">Chakan plant</keyword> in Pune for a month from mid-December to mid-January in order to upgrade the facility for new range of products, according to sources. The company -- formerly known as Volkswagen India -- had earlier suspended production for a month from middle of October to mid-November. When contacted, the company spokesperson said it is taking the step to prepare for next generation of products within the INDIA 2.0 project. "Several upgrades are in progress at our facilities to accommodate changes in the production lines for MQB A0 IN platform. We are systematically planning our non-production days to sustainably meet our customer deliveries without any delay," the spokesperson said when asked about the suspension of work at the plant. While the spokesperson did not confirm the period of closure, industry sources confirmed the suspension of production from mid-December to align production in preparation of the new range of products. Earlier this year, <keyword id="166267" type="COMPANY" weightage="20" keywordseo="Volkswagen-Group">Volkswagen Group</keyword> India had received regulatory and statutory approvals to merge its three passenger car subsidiaries in the country into one entity which would be referred to as Skoda Auto Volkswagen India. The merged entity, which includes Volkswagen India, Volkswagen Group Sales India and Skoda Auto India, is led by Gurpratap Boparai. The new company with a strong brand portfolio -- Skoda Auto, Volkswagen, Audi, Porsche and Lamborghini -- is envisioned to serve across market segments and budgets. However, the group has been struggling to make its mark in the Indian mass market segment. In April-October period this year, Volkswagen India clocked sales of just 17,733 units, down 17.01 per cent from the year-ago period. On the other hand, Skoda Auto sold 8,114 units, down 18.2 per cent from the same period a year ago. The Pune-headquartered company operates two production facilities in Pune and Aurangabad, and has regional offices in Mumbai, New Delhi and other locations across the country. In July 2018, the Volkswagen Group announced investments of around EUR 1 billion as part of the India 2.0 project. In January this year, the company opened a new technology centre in Pune to develop vehicles based on the localised MQB-A0-IN subcompact platform, tailored to the requirements of local customers. As part of fresh model introduction strategy in the country, Skoda Auto Volkswagen India plans to drive in a mid-size SUV model which would be sold from both Skoda and Volkswagen sales outlets.

Volkswagen India clocked sales of just 17,733 units, down 17.01 per cent from the year-ago period

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Volkswagen Group has unveiled a concept car that's more of a robot assistant than a vehicle.Called Sedric, the concept car is the very first built by Volkswagen Group, the parent company of Volkswagen, Audi, and Lamborghini. <a href="https://www.volkswagenag.com/en/news/2017/03/Autonomous_driving.html" target="_blank">Volkswagen Group says</a> the car is a Level 5 autonomous vehicle, meaning it's completely driverless in any geographic region and requires no human supervision.From a design perspective, Sedric isn't the most appealing with its boxy body and black swing doors. But it does come with a high-tech windshield with giant OLED eyes.The fact that it looks more like a squat robot than a traditional car speaks to Volkswagen Group's vision for the concept.Sedric comes with a separate, external button so it can be hailed at a whim. Volkswagen Group says Sedric is a shared mobility service that can find its own parking spot, drop kids off at an extracurricular activity, and pick up packages.<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>The car can also talk to passengers about the route, traffic, and estimated driving time. Sedric doesn't have a steering wheel or pedals, allowing it to become "a comfortable lounge on wheels," Volkswagen Group said. It even comes with "air-purifying plants" for the true lounge experience.There's no word on whether Sedric will ever come out of concept mode, but Volkswagen Group said Sedric will serve as the platform for future driverless concepts. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/volkswagen-invests-300-million-gett-uber-competitor2016-5">We tried the 'Uber-killer' that just landed a $300 million investment from Volkswagen</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="1ocmdjeDrP7UksbISVgKIAdKEOCnZQBg" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Volkswagen's latest concept car is a self-driving, robot assistant

<keyword id="596" type="General" weightage="100" keywordseo="hyundai" source="Orion">Hyundai</keyword> <keyword id="1384468" type="General" weightage="80" keywordseo="mobis" source="Orion">Mobis</keyword>, South Korea's leading auto parts maker, said on Monday it has developed the world's first rollable display for vehicles. The rollable display disappears when the engine is turned off and the screen rolls up and down depending on driving conditions, the company said in a statement. The display is scaled up to two-thirds when using navigation and is switched to full-screen mode to watch videos while the vehicle is parked or when charging an electric vehicle, it said, reports <keyword id="197034" type="General" weightage="50" keywordseo="yonhap" source="Orion">Yonhap</keyword> news agency. Hyundai Mobis aims to obtain orders for the rollable display, which was partly adopted in smartphones and TVs, from luxury carmakers in North America and Europe. "We are looking forward to becoming a game changer in the automotive display market with our differentiated technology. We will pioneer the global market by driving the trend of new infotainment technologies," Han Young-hoon, vice president in charge of the Electronics Convenience and Control (EC) division at Hyundai Mobis, said. Display technology for in-car entertainment has emerged as a new growth driver in the in-vehicle infotainment market. The existing liquid crystal displays (LCDs) are quickly replaced by bigger-sized plastic organic light emitting diodes (OLEDs) of 20 inches and larger. That is why Hyundai Mobis has focused on developing the rollable display in the past two years. Hyundai Mobis is a core affiliate of Hyundai Motor Group, which also has Hyundai Motor Co. and Kia Corp. under its wing. Hyundai Motor and Kia together form the world's third-largest carmaker by sales after <keyword id="67309" type="General" weightage="50" keywordseo="toyota-motor" source="Orion">Toyota Motor</keyword> and <keyword id="166267" type="General" weightage="50" keywordseo="volkswagen-group" source="Orion">Volkswagen Group</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/ai-generated-images-and-videos-a-game-changer-or-a-threat-to-authenticity/articleshow/99560443.cms">AI-generated images and videos: A game-changer or a threat to authenticity?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/check-out-countries-list-with-the-highest-and-lowest-probability-for-recession/slidelist/99560624.cms">India has zero probability of recession in 2023 – Here’s how other countries fare</a>

Hyundai Mobis develops world's 1st rollable vehicle display

<ul class="summary-list"><li><keyword id="6361865" type="ORGANIZATION" weightage="60" keywordseo="volkswagen">Volkswagen</keyword> said Tuesday its US arm would rebrand to "Voltswagen."</li><li>The announcement was a marketing stunt and will be retracted Wednesday, multiple outlets reported.</li><li>Volkswagen published and took down the announcement on Monday before reposting it Tuesday. </li></ul>Editor's Note: This story was initially written about Volkswagen's announcement that it was rebranding its US arm to "Voltswagen." Multiple outlets have since reported that the announcement was a marketing stunt, and this story has been updated to reflect that. Volkswagen of America will not rebrand to "Voltswagen" after all, <a href="https://www.wsj.com/articles/messaging-says-vw-usa-to-rebrand-itself-voltswagenheadquarters-says-not-so-fast-11617120111?mod=hp_lead_pos11">multiple</a> <a href="https://www.reuters.com/article/us-vw-rebrand/vw-confirms-it-will-rebrand-its-u-s-unit-as-voltswagen-idUSKBN2BM1O3">outlets</a> reported. The brand - a subsidiary of Germany's Volkswagen Group - announced plans Tuesday to rename its US operations "Voltswagen of America." It said the brand's battery-powered vehicles would have exterior Voltswagen badging, while its gas-powered cars would come with the traditional VW emblem. Now Volkswagen is walking back the statement, according to multiple outlets, which cited sources familiar with the move. The press release announcing the name change, published to VW of America's website on March 30, was an April Fools' joke, a Volkswagen spokesperson told <a href="https://www.wsj.com/articles/messaging-says-vw-usa-to-rebrand-itself-voltswagenheadquarters-says-not-so-fast-11617120111?mod=hp_lead_pos11">The Wall Street Journal</a>. The announcement was made up to drum up attention for VW's upcoming <keyword id="6354973" type="UNKNOWN" weightage="60" keywordseo="electric-vehicles">electric vehicles</keyword>, <a href="https://www.reuters.com/article/us-volkswagen-name-idUSKBN2BM2YJ">Reuters</a> reported, citing three sources familiar with the matter. The carmaker will officially retract the name change on Wednesday, multiple outlets reported. "We might be changing out our K for a T, but what we aren't changing is this brand's commitment to making best-in-class vehicles for drivers and people everywhere," Scott Keogh, the president and CEO of Volkswagen Group of America, said in a statement Tuesday. "This name change signifies a nod to our past as the peoples' car and our firm belief that our future is in being the peoples' electric car."<a href="https://www.cnbc.com/2021/03/29/vw-accidentally-leaks-new-name-for-its-us-operations-voltswagen.html">CNBC</a> initially reported the name change Monday after it said a draft of Tuesday's press release was accidentally posted to the brand's website a month early. It was dated April 29, CNBC said, and briefly online before being removed from VW's website.Volkswagen of America and Volkswagen Group representatives did not immediately return Insider's requests for comment.Read more: <a href="https://www.businessinsider.com/northvolt-ceo-carlsson-lessons-learned-tesla-supply-chain-elon-musk-2021-2">The CEO of a top battery startup explains how working for Elon Musk upended his assumptions about his industry</a>Volkswagen began delivering its first electric vehicle for the US market, the ID.4, this month. During a presentation earlier this month, the Volkswagen Group laid out a <a href="https://www.businessinsider.com/volkswagen-targets-tesla-power-day-battery-announcements-2021-3">wide-ranging strategy</a> to overtake Tesla in the EV space. The plans included six European battery-production plants, new battery technology, and investments in charging infrastructure. In January, General Motors <a href="https://www.businessinsider.com/gm-debuts-new-logo-as-it-transitions-to-electric-vehicles-2021-1">unveiled a new logo</a> amid its own accelerated electrification push.

VW won't rebrand its US arm as 'Voltswagen' after all, reports say

<div class="KonaFilter image-container display-table float_right"><div><div class="image">APVW Group CEO Matthias Muller.</div></div></div>Volkswagen Group has been one of the largest and most profitable car companies in the world.In spite of its well-documented struggles in the US market, the German automaker has thrived just about everywhere else.Even with the financial pressures placed on Volkswagen Group, it was thought the company could rely on its Chinese and European strongholds to get it through the tough times.Unfortunately for VW, fallout from its massive emissions cheating scandal is now clearly affecting sales in Europe.Volkswagen Group has lost market share in Europe for the sixth month in a row, <a href="http://www.bloomberg.com/news/articles/2016-03-16/volkswagen-europe-market-share-continues-slide-as-recalls-start" target="_blank">Bloomberg's Tom Lavell</a> reported.According to a report from the <a href="http://www.acea.be/" target="_blank">European Automobile Manufacturers Association</a>, Volkswagen Group's <a href="http://www.acea.be/uploads/press_releases_files/20160316_PRPC_1602_FINAL.PDF" target="_blank">market share has fallen to 24.1%</a> over the first two months of 2016. That's down from 25.4% over the same period last year.Although registrations of new VW Group cars in the EU are up 4.5% for the first two months of 2016, registrations of new cars across all brands rose 10.1% over the same period.The company's volume-leading VW brand has been hit the hardest. Registrations of new VW brand cars are flat at just 0.2% growth this year. Consequently, VW's inability to keep pace with the rest of the European market has seen the brand's share plummet from 12.7% to 11.5%.The majority of Volkswagen Groups growth this year have been at Audi. The luxury automaker has seen its share increase to 5.5% - up from 5.3% this time last year.Other companies have taken advantage of VW's troubles to pick up share in the Europe. The biggest winner so far this year has been Fiat Chrysler which has seen its share surge 0.6% from 6.6% to 7.2%. According to Bloomberg, FCA's sales have been buoyed by the popularity of its Fiat 500X and Jeep Renegade crossovers.<div class="KonaFilter image-container display-table"><div><div class="image">Eric Thayer/Getty ImagesJeep Renegade.</div></div></div>Other winners include Jaguar Land Rover and Mazda - both of which picked up 0.4 % of share. Ford has picked up 0.3% of share this year while VW Group's German rivals at Mercedes and Opel (GM's European operation) both picked up 0.2%.In the US, <a href="http://www.businessinsider.com/volkswagen-sales-suv-crossover-america-2016-3" target="_blank">Volkswagen's sales situation has gone from bad to worse</a>. For the year, Volkswagen sales are down nearly 14% at a time when many of its rivals are reporting double-digit growth. Even more troubling is the brand's continued loss of market share. In the first half of 2015, Volkswagen held a disappointing 2.1% share of the US market. After the company's emissions scandal broke in September and the well of generous incentive money for dealerships dried up, sales have declined. By last month, the company's share in the US market is down to 1.7%.Last week, <a href="http://www.businessinsider.com/volkswagens-us-boss-horn-departs-2016-3" target="_blank">Volkswagen Group of America CEO Michael Horn </a>abruptly left the company after a little more than two years on the job. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/havana-cuba-coco-taxi-transportation-2016-1">Forget the classic cars - these goofy-looking taxis are the best way to get around Havana</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="IydXJqMDE6oumUogYSR-_gQy6bly0QNB" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Volkswagen is confronting a horrible reality at home

New Delhi, Nov 26 () Skoda Auto Volkswagen India on Tuesday said it will suspend production at its Chakan plant in Pune for a month from mid-December to mid-January in order to upgrade the facility for new range of products, according to sources.
 The company -- formerly known as Volkswagen India -- had earlier suspended production for a month from middle of October to mid-November.
 When contacted, the company spokesperson said it is taking the step to prepare for next generation of products within the INDIA 2.0 project.
 "Several upgrades are in progress at our facilities to accommodate changes in the production lines for MQB A0 IN platform. We are systematically planning our non-production days to sustainably meet our customer deliveries without any delay," the spokesperson said when asked about the suspension of work at the plant.
 While the spokesperson did not confirm the period of closure, industry sources confirmed the suspension of production from mid-December to align production in preparation of the new range of products.
 Earlier this year, Volkswagen Group India had received regulatory and statutory approvals to merge its three passenger car subsidiaries in the country into one entity which would be referred to as Skoda Auto Volkswagen India.
 The merged entity, which includes Volkswagen India, Volkswagen Group Sales India and Skoda Auto India, is led by Gurpratap Boparai.
 The new company with a strong brand portfolio -- Skoda Auto, Volkswagen, Audi, Porsche and Lamborghini -- is envisioned to serve across market segments and budgets.
 However, the group has been struggling to make its mark in the Indian mass market segment. 
 In April-October period this year, Volkswagen India clocked sales of just 17,733 units, down 17.01 per cent from the year-ago period. On the other hand, Skoda Auto sold 8,114 units, down 18.2 per cent from the same period a year ago.
 The Pune-headquartered company operates two production facilities in Pune and Aurangabad, and has regional offices in Mumbai, New Delhi and other locations across the country.
 In July 2018, the Volkswagen Group announced investments of around EUR 1 billion as part of the India 2.0 project.
 In January this year, the company opened a new technology centre in Pune to develop vehicles based on the localised MQB-A0-IN subcompact platform, tailored to the requirements of local customers.
 As part of fresh model introduction strategy in the country, Skoda Auto Volkswagen India plans to drive in a mid-size SUV model which would be sold from both Skoda and Volkswagen sales outlets. MSS RKL RVK

<ul class="summary-list"><li>Firefighting boats were en route to the Felicity Ace, a burning ship carrying luxury vehicles, the <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Ffirefighting-boats-head-to-burning-ship-carrying-volkswagen-porsche-and-bentley-cars-11645299464">WSJ</a> reported Saturday.</li><li>The <keyword id="12334748" type="UNKNOWN" weightage="60" keywordseo="cargo-ship" source="Orion">cargo ship</keyword> caught fire near Portugal Wednesday while carrying 4,000 cars from Germany to the US.</li></ul>Help is on the way for <a href="https://www.businessinsider.com/photos-felicity-ace-the-burning-cargo-ship-smoldering-at-sea-2022-2">a cargo ship burning at sea</a> with thousands of luxury vehicles in tow.On Saturday, firefighting boats were en route to the Felicity Ace. The first was expected to arrive Sunday, <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Ffirefighting-boats-head-to-burning-ship-carrying-volkswagen-porsche-and-bentley-cars-11645299464">The Wall Street Journal reported</a>.The 60,000-ton cargo ship is carrying roughly 4,000 vehicles built by Germany's <keyword id="12153707" type="UNKNOWN" weightage="60" keywordseo="volkswagen" source="Orion">Volkswagen</keyword> Group. It was traveling from Emden, Germany, where Volkswagen has a factory, to Davisville, Rhode Island, when <a href="https://www.businessinsider.com/volkswagen-group-cars-porsche-fire-cargo-ship-felicity-ace-2022-2">it caught fire near Portugal</a> on Wednesday. The Portuguese Navy evacuated all 22 crew members onboard.A spokesperson for MOL Ship Management (Singapore) Pte. Ltd., which owns the company operating the Felicity Ace, told the Journal Saturday that the 650-foot ship is still burning but hasn't leaked any oil and remains stable with regards to concerns it could sink.MOL told The Journal it expects the first of the vessels carrying firefighting equipment to the Felicity Ace to arrive Sunday from Gibraltar. A second firefighting boat will come Monday, and a salvage ship from Rotterdam, Netherlands, is expected to arrive on Wednesday or Thursday.The cause of the fire is not yet clear."It will be months before we have completed an investigation and know what happened," a spokesman for MOL told the Journal.In the US, the Volkswagen Group sells Volkswagen, <keyword id="12003683" type="UNKNOWN" weightage="60" keywordseo="porsche" source="Orion">Porsche</keyword>, Audi, Lamborghini, Bentley, and Bugatti vehicles. A Porsche spokesperson previously confirmed to Insider that "a number" of <a href="https://www.businessinsider.com/electric-car-road-trip-charging-porsche-taycan-cross-country-2022-2">Porsche cars</a> are onboard the ship but said it was too early to know if any could be salvaged.YouTuber and car enthusiast Matt Farah has said a New Jersey dealer has confirmed <a href="https://www.businessinsider.com/youtuber-porsche-burning-cargo-ship-felicity-ace-2022-2">his vehicle, a 2022 Porsche 718 Boxster Spyder, is also among the cargo.</a> Farah says the sports car was supposed to be delivered to him next week.MOL and the Volkswagen Group didn't immediately respond to Insider's requests for comment.

Firefighting boats are headed to the Felicity Ace, the burning ship in the Atlantic Ocean carrying 4,000 luxury vehicles

<ul class="summary-list"><li>A cargo ship carrying thousands of new cars bound for the US caught fire on Wednesday. </li><li>Its crew was evacuated, but the vehicles are still on board. </li></ul>The <keyword id="11939508" type="UNKNOWN" weightage="60" keywordseo="auto-industry" source="Orion">auto industry</keyword> has been slammed with shortages and pandemic-induced kinks in the <keyword id="11894138" type="UNKNOWN" weightage="60" keywordseo="supply-chain" source="Orion">supply chain</keyword> for what feels like an eternity. To make matters worse, a cargo ship carrying thousands of new vehicles to North America is burning in the Atlantic Ocean. The 650-foot-long Felicity Ace was on its way from Germany to the US when it caught fire and was evacuated by the Portuguese Navy on Wednesday, <a href="https://apnews.com/article/europe-fires-portugal-azores-islands-d8f3ea0b10a187684d9a4ce6d6370277">The Associated Press</a> reported on Thursday. Now it's on fire, without a crew, floating off the coast of Portugal. In all, 22 crew members were evacuated. The ship was transporting nearly 4,000 vehicles built by Germany's <keyword id="12153707" type="UNKNOWN" weightage="60" keywordseo="volkswagen" source="Orion">Volkswagen</keyword> Group to North America, the automaker confirmed in a statement to Insider. "We are aware of an incident today involving a cargo ship transporting Volkswagen Group vehicles across the Atlantic," a spokesperson said in an email. "At this time, we are not aware of any injuries. We are working with local authorities and the shipping company to investigate the cause of the incident."The spokesperson did not go into detail about the specific brands affected. In the US, the Volkswagen Group sells vehicles under the Volkswagen, <keyword id="12003683" type="UNKNOWN" weightage="60" keywordseo="porsche" source="Orion">Porsche</keyword>, Audi, Lamborghini, Bentley, and Bugatti brands. A Porsche spokesperson confirmed that "a number" of Porsche cars are among the Felicity Ace's cargo and said it's too early to tell if any can be salvaged. Customers affected by the blaze will be contacted by their Porsche dealer, the spokesperson said. The incident comes during a chaotic time in the auto industry. A global shortage of computer chips continues to squeeze automakers, forcing them to <a href="https://www.businessinsider.com/ford-suspends-cuts-output-due-to-chip-shortage-2022-2">cut shifts</a> and produce fewer vehicles. A lack of new inventory on dealer lots is making new and used cars extraordinarily expensive, and industry watchers believe the high prices <a href="https://www.businessinsider.com/will-used-cars-get-cheaper-in-2022-its-complicated-2022-1">may never return to pre-pandemic levels</a>.

A cargo ship packed with thousands of Volkswagen Group vehicles is on fire in the Atlantic Ocean

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Volkswagen Chief Executive Martin Winterkorn attends the annual news conference of Volkswagen in Berlin March 12, 2015. VW CEO Martin Winterkorn.</div></div></div>Martin Winterkorn has stepped down as CEO of Volkswagen.VW has been engulfed by an emissions-cheating scandal that it says has affected 11 million vehicles worldwide.Winterkorn and VW released a statement:On Tuesday, German media reported that Winterkorn had quit and that he would be replaced by Porsche CEO Matthias Müller.Winterkorn contradicted that report later Tuesday in a video posted to the company's website. But by midweek it became clear that Winterkorn might not make it to a scheduled Friday meeting of VW's supervisory board.No successor to Winterkorn has been named.The fate of the company, which has shed billions in market cap since it was revealed last week that it had cheated on US emissions tests, now rests in the hands of the VW Group board.The board is made up of VW Group executives, members of the Porsche family, representatives of the German state of Lower Saxony, where VW is headquartered, and the union that represents VW's workers.Last week, the US Environmental Protection Agency revealed that VW had installed "defeat device" software on nearly 500,000 VW and Audi vehicles equipped with a 2.0-liter TDI diesel engine. The software switched on full emission-control systems when the cars were being tested but switched it off during normal operation. This enabled VW to mask emissions of nitrogen oxide that exceeded the standards by up to 40 times.Volkswagen swiftly admitted guilt and said millions of additional cars were affected globally.Winterkorn recently survived a management crisis at VW that saw the departure of VW chairman Ferdinand Piëch. Winterkorn and Piëch were allies but had become rivals. Before the emissions-cheating scandal hit, it was expected that the VW board would meet this week to extend Winterkorn's contract through 2018.VW stock was up 6% in trading on Wednesday, to 113 euros per share.This is breaking, we'll update as we learn more.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://finance.yahoo.com/echarts?s=VOW.DE#{">Screenshot via Yahoo Finance</a></div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/gselevator-john-lefevre-story-goldman-sachs-elevator-gossip-2015-7">The story behind the famously offensive twitter account that parodies Wall Street culture</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="J2eHNpdjosRRsVzu0u2vzC9ykNJdT8l6" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

VW CEO is out

Volkswagen is trying to mix things up overseas to try and nail down some higher profit margins.
The car company is launching a luxury car designed solely for China next year. It is set to be based on Audi's A6, which now holds the top spot in China among luxury sedans. Volkswagen is entering into direct competition with Audi, and hoping it will pay off.
Reuters spoke to two people with knowledge of the plan, though they couldn't elaborate on how the car's features would be specific to China. The Audi A6 in China has a longer body than A6s elsewhere, allowing more leg room and out-sizing many of its rivals.
The price of the VW premium sedan is undetermined, and nearing the A6's 383,000 yuan ($62,375) starting price would risk cannibalizing Audi sales. But Volkswagen, better known for small cars and family-oriented models, is drawn to Audi's margins. Volkswagen sells three times more cars than Audi globally, yet Audi earns more than double the profit of VW-branded cars.
"Volkswagen wants to boost its brand value, which is natural for any company seeking higher margins. But it's not easy," said Yale Zhang, managing director at consultancy Automotive Foresight.
"If Volkswagen's premium car is priced too high, people would go straight to Audi. If the price is not high, then what's the point?"
Volkswagen aims to replicate Audi's success in luxury vehicles at a time when a state crackdown on extravagance among public officials is creating demand for upmarket cars absent of marques typically associated with opulence.
Going upmarket would see the German auto maker trespass into a segment dominated by Audi, BMW <BMWG.DE> and Daimler AG's Mercedes-Benz, which are in turn seeking growth by producing more affordable models closer to Volkswagen's line-up.</BMWG.DE>
"Selling luxury cars makes for fatter profit. Volkswagen believes this segment will continue to grow rapidly," said one of the people, who is not authorized to talk to the media so declined to be identified.
"Premium models under the Volkswagen brand will be especially attractive to those who want a superior car but don't want to catch too much attention," said the person, dismissing the long-term impact of the crackdown.
China's premium car market could surpass that of the United States to become the world's biggest as early as 2016 thanks to increasing affluence, forecast consultancy McKinsey &amp; Co.
The Volkswagen group operates upper-class name plates Audi, Bentley, Porsche and Lamborghini independently to its Volkswagen brand. The group commands over one-fifth of China's passenger vehicle market where it dominates in mid-tier compact sedans.
<h3>CODE NAME 511</h3>
Volkswagen's new premium car is code-named 511, the people said. It was designed inEurope but will be the brand's first large "C-class" sedan manufactured in China - byShanghai Volkswagen, a joint venture with China's SAIC Motor Corp Ltd.
A spokeswoman at Volkswagen in China confirmed the existence of a plan for a C-classcar but declined to provide details. SAIC Motor declined to comment.
Shanghai Volkswagen produces the Santana, China's No. 2-selling compact sedan this year, according to researcher LMC Automotive. But the German auto maker's joint venture with China FAW Group Corp [SASACJ.UL], FAW-Volkswagen Automobile, is more profitable because it builds Audi cars, one of the people said.
Volkswagen earned 1.01 billion euros ($1.29 billion) in operating profit in January-June selling 2.3 million VW passenger vehicles globally. By comparison, Audi earned 2.67 billion euros from 750,000 cars.
Volkswagen's entry into China's high-end car market will begin toward the end of 2015. It has not determined a price for its luxury car but has set an annual sales target of 50,000 vehicles, the person said.
To elevate its brand image, Shanghai Volkswagen will set up 100 upscale dealerships across China over the next three years, where the decor and hospitality will give prospective buyers a different feel of a familiar brand, the second person said.
 
(1 US dollar = 6.1403 Chinese yuan)
(1 US dollar = 0.7769 euro)
 
(Editing by Christopher Cushing)

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