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Volkswagen and Ford are in preliminary talks over an alliance to develop and produce products, most likely starting with commercial transporter vans. An announcement from Ford came after Volkswagen’s supervisory board gave its managers a green light to strike a deal with U.S.-based Ford. The goal is a partnership to share development and production costs. Preliminary talks have already started. Ford’s announcement said that the potential projects could span a number of areas, including commercial vans. Ford said that they look forward to exploring with the Volkswagen tea...
The profit of the Japanese automaker- Toyota has increased 43% in the latest quarter as cost-cutting, lower selling outlays and falling warranty expenses offset unfavorable foreign exchange rates and helped the automaker to have a record full-year net income.Operating profit rose to 629.6 billion yen ($5.93 billion) in the carmaker’s fiscal fourth quarter ended March 31, while net income advanced 21 percent to 480.8 billion yen ($4.53 billion). Revenue rose 1.9 percent to 7.58 trillion yen ($71.36 billion). Global retail sales increased 2.2 percent to 2.6 million vehicles in the January-...
Electric automaker Tesla is the subject of a lawsuit filed by Nikola Motor Co, an automaker that makes hydrogen-powered semi trucks, alleging design patent infringements. Tesla’s Semi is the first electric heavy-duty truck and it’s similar to Nikola’s design.Utah-based Nikola says that it was issued six design patents by the U.S. Patent and Trademark Office for its fuselage, wrap windshield, mid-entry door, side cladding, and the overall design of the Nikola One. Nikola estimated the harm from Tesla’s alleged infringement to be more than $2 billion. Tesla’s spokes...
As pressures mount on the industry despite rising vehicle sales, climbing technology costs, raw materials and global currency shifts ate into profits at the world’s carmakers. The US car market seems to recover, thanks to the sales increase in the first quarter.German groups Volkswagen and Daimler saw material and commodity costs deflate their earnings, while smaller operators Volvo and Mazda flagged rising technology and marketing spending for their profit drops. The outlay from launching new vehicles also took tolls on Fiat Chrysler, General Motors, Volvo and Daimler, with higher marke...
The German police have arrested the head of powertrain development at Volkswagen's Porsche business, Joerg Kerner. The arrest was related to ongoing inquiries into emissions manipulation, a person familiar with the matter said. Police are holding him on remand. The police are holding him on remand because he is considered a flight risk. The arrest of Joerg Kerner was related to ongoing inquiries into emissions manipulation at Volkswagen, more than two years after the German carmaker admitted cheating on U.S. exhaust tests. Kerner was one of three current or former emplo...
