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Bentley and Aston Martin slash jobs in response to market downturn
News
10th Jun 2020
1 min read

Bentley and Aston Martin slash jobs in response to market downturn

Job cuts continue to spread through the automotive industry as car manufacturers try to reduce costs due to a dramatic sales decline in the first half of 2020. Bentley has announced it would be slashing 1000 jobs, nearly 24 per cent of the company's workforce, as reported by news agency Reuters. The announcement came within 24 hours of Aston Martin announcing it would cut 500 jobs, more than 19 per cent of its personnel.
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Ben Zachariah
Volkswagen Passat: Next-gen production could move to Slovakia - report
News
29th Oct 2019
2 min read

Volkswagen Passat: Next-gen production could move to Slovakia - report

The Volkswagen Group may abandon its plans to build the next Passat at its planned €1.3 billion factory in Turkey, according to a new report. Industry journal Automotive News Europe says sources told sister publication Automobilwoche the German automaker could shift Passat production to Bratislava, Slovakia, where it builds various models like the Volkswagen Touareg and Audi Q7.
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James Wong
Volkswagen Group could sell Lamborghini - report
News
13th Oct 2019
1 min read

Volkswagen Group could sell Lamborghini - report

The Volkswagen Group is considering selling or publicly listing Lamborghini, as it looks to consolidate its sprawling collection of brands. According to a report from Bloomberg, the Volkswagen Group wants to spend money more efficiently and stop crossover from brands under the 'group' umbrella. Part of that plan involves separating Lamborghini from the group by the end of 2020, the report says. "We shouldn’t spread ourselves too thin," Diess told the Suddeutsche Zeitung.
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Scott Collie
Volkswagen invests €900m in Swedish battery maker
News
17th Jun 2019
2 min read

Volkswagen invests €900m in Swedish battery maker

Volkswagen AG has announced a €900 million ($1.467 billion) investment into an electric vehicle battery joint venture with Swedish firm Northvolt AB. According to VW, part of the above sum "is intended for a joint venture" with the battery producer, while a further portion of the investment will go directly to Northvolt in return for around 20 per cent of the company's shares and one seat on the Board of Directors.
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James Wong
Volkswagen Group now planning to launch 70 electric cars by 2028, up from 50
News
12th Mar 2019
2 min read

Volkswagen Group now planning to launch 70 electric cars by 2028, up from 50

Volkswagen Group's leadership has announced a ramping up of its already ambitious electric vehicle plans at its 2019 annual press conference. The German automaker now plans to launch 70 new electric cars by 2028, up from the 50 it had previously committed to. It now predicts it will make 22 million electric vehicles in the next decade, up from the previous forecast of 15 million. If all goes according to plan, 40 per cent of the group's sales will be electric by 2030.
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Derek Fung