Volkswagen

Volkswagen and Chinese battery maker Gotion High-Tech announced plans on September 28 to establish three joint ventures in Spain, Slovakia, and Morocco for lithium battery and cathode material production, with a total estimated investment of approximately €3.222 billion. Separately, Volkswagen agreed to sell a 5.3% stake in Gotion while retaining a significant shareholding. Gotion Spain also plans to sign €1.094 billion in EPC contracts with Volkswagen’s PowerCo Spain for a 29.1 GWh battery project. The transactions are related-party deals subject to shareholder approval.

5 reports · 4 sources · Updated Sep 28, 01:35 PM UTC

Chinese automakers accounted for 84% of Europe’s new car registration growth in the first eight months of 2026, with total registrations surpassing 1 million for the first time, reaching 1,034,685 units—a 68.1% year-on-year increase. BYD and Chery each outsold Tesla in Europe. Battery electric vehicles (BEVs) overtook petrol cars in registrations for the first time, capturing a 23.2% market share. The European Automobile Manufacturers Association (ACEA) reported EU registrations rose 4.5% in August, the seventh consecutive month of growth, with BEVs accounting for 21.7% of new EU registrations.

10 reports · 7 sources · Updated Sep 28, 06:48 AM UTC

European all-electric vehicle registrations surged 52% year-on-year in August, driven by record-high gasoline prices. Germany saw a 75% increase and French sales more than doubled, with over one in three new cars now having a plug. Geopolitical tensions, including US-Israeli actions disrupting Strait of Hormuz traffic and Ukrainian strikes on Russian refineries, pushed German gasoline to €2.31 per liter. Chinese brands captured a record 12% market share. European automakers Stellantis and Volkswagen face financial strain, with Volkswagen planning 100,000 layoffs.

6 reports · 3 sources · Updated Sep 28, 05:39 AM UTC

Volkswagen Group confirmed a global recall of approximately 2.86 million vehicles due to a steering system defect where fixing bolts may corrode and break, potentially causing steering failure. About 960,000 vehicles are affected in Germany, including Volkswagen Tiguan, Touran, Golf models (2013-2024) and Audi models (2017-2024). No injuries or property damage have been reported. A parts shortage may require some vehicles to have two workshop visits.

9 reports · 5 sources · Updated Sep 26, 12:46 PM UTC

On September 20, FAW-Volkswagen launched the ID. AURA T6, an all-electric mid-size SUV starting at 129,900 yuan ($18,000), undercutting rivals like the BYD Song Ultra EV. The launch comes as FAW-Volkswagen's August 2026 wholesale volume fell 48% year-on-year to 69,000 units, with market share dropping to 2.9%. The T6, which has received over 30,000 pre-orders, is the first model under Volkswagen's "Smart Electric 2.0" strategy, featuring a Chinese-developed CEA electronic architecture and a 192-line LiDAR for advanced driver assistance. The company plans 13 new models in 2026, including 7 EVs.

5 reports · 4 sources · Updated Sep 22, 04:00 PM UTC

Volkswagen Group issued a profit warning on September 18, 2026, cutting its 2026 operating profit margin forecast to no more than 1% from a prior 4.0%-5.5% range. The revision is driven by approximately €10 billion in special items, including a €6 billion non-cash goodwill impairment on Porsche, restructuring costs, and asset write-downs in China. The company was subsequently removed from the Euro Stoxx 50 index. Volkswagen plans to cut up to 100,000 jobs globally under its '2030 Future Plan' and launch over 20 new energy models in China.

15 reports · 10 sources · Updated Sep 22, 01:38 PM UTC

The European Union is seeking to restrict imports of Chinese hybrid vehicles, prompting China's Ministry of Foreign Affairs to respond that the essence of China-EU economic and trade relations is mutual benefit and win-win cooperation. This development comes amid a broader context of China's growing auto exports, with BYD reporting overseas sales of 188,746 vehicles in August 2026, a 134.6% year-on-year increase.

6 reports · 3 sources · Updated Sep 22, 06:45 AM UTC

Volkswagen has been removed from the Euro Stoxx 50 index for the first time in 15 years, effective September 21, following a routine review by index compiler Stoxx. The exclusion reflects severe operational pressures, including a 30.7% drop in net profit, a profit warning cutting its 2026 operating margin forecast to up to 1%, and a historic restructuring plan to cut 100,000 jobs. Volkswagen's shares have fallen over 75% from their 2021 peak and are trading near 16-year lows. The company stated index inclusion does not change its fundamental strength.

13 reports · 8 sources · Updated Sep 22, 03:44 AM UTC

Volvo Cars has appointed Klaus Zellmer, CEO of Volkswagen's Skoda Auto, as its new President and CEO, succeeding Håkan Samuelsson. Zellmer, who has over 30 years of automotive experience including leading Porsche North America, will assume the role no later than October 1, 2027. The leadership change follows Volvo's September 17 announcement of a plan to launch 13 new models by 2030, including six models exclusive to China. Chairman Li Shufu expressed confidence in Zellmer's ability to lead Volvo's transformation amid challenges including U.S. tariffs and weak EV demand.

18 reports · 13 sources · Updated Sep 22, 03:40 AM UTC

Chinese EV startups NIO, XPeng, Li Auto, and Leapmotor are increasingly selling their self-developed technologies—including chips, platforms, and powertrains—to other automakers to offset thin vehicle margins and high R&D costs. Li Auto is reportedly planning to supply its Mach chip and range-extender system. NIO spun off its chip business into Shenji Technology, targeting several hundred million yuan in external revenue. XPeng’s technology partnership with Volkswagen generated 8.34 billion yuan in service income in 2025 at a 68.2% margin. Leapmotor supplies its LEAP architecture to Stellantis and FAW. Analysts caution the model faces challenges including client concentration and data security concerns.

6 reports · 3 sources · Updated Sep 22, 12:57 AM UTC

Six major US automotive industry associations sent a letter to President Trump urging him to maintain policies blocking Chinese automakers from selling, importing, or manufacturing vehicles in the US. The coalition, representing GM, Ford, Toyota, Volkswagen, and others, argues that Chinese automakers have zero US market share and that allowing them to build factories would harm domestic manufacturers. The appeal comes ahead of Trump's meeting with Chinese President Xi Jinping, amid reports that Chinese EV maker BYD may join the delegation. Trump had previously expressed openness to Chinese companies building cars in the US.

5 reports · 4 sources · Updated Sep 21, 02:10 PM UTC

Porsche CEO Michael Leiters denied reports that the luxury carmaker plans to cut an additional 4,000 jobs beyond the 9,000 already agreed upon. The denial follows a Handelsblatt report that Volkswagen's supervisory board proposed cutting approximately 4,100 positions at Porsche to close a €700 million cost gap. Volkswagen lowered its 2026 profit margin forecast to no higher than 1%, citing asset impairments at Porsche.

6 reports · 6 sources · Updated Sep 21, 02:10 PM UTC

Multiple Chinese financial commentaries argue that despite weak August data on retail sales, social financing, and fixed investment, China’s low inflation, moderate growth, low valuations, and low risk-free rates make it a global exception to the “Three Highs” of high inflation, high interest rates, and high debt. Analysts attribute this to decades of government infrastructure investment and market competition, citing projects like the Pinglu Canal and BASF’s Zhanjiang base. They conclude that China’s supply-side strengths and low bond yields support long-term A-share gains.

44 reports · 4 sources · Updated Sep 20, 09:36 AM UTC