Volkswagen VZ Stock News

Volkswagen is making progress with its cost-cutting drive, the head of the German carmaker's core brands said in a media interview on Thursday, pointing to headcount reductions and savings at the group's plants in Germany.

Volkswagen's PowerCo is looking more closely at external financing options as its stricken German parent reins in investment, the CEO of the battery business said.

Last vehicle rolled off the line Tuesday at the Dresden site, known as the “Transparent Factory,” capping 24 years of production that began in 2001.

Major automakers on Thursday urged Washington to prevent Chinese government-backed automakers and battery manufacturers from gaining entry in the United States to open manufacturing plants, warning the industry's future is at stake.

The Volkswagen Group said on Thursday that, from a technical standpoint, it has incorporated its range extender concept into its future Scalable Systems Platform (SSP) for electric cars.

Volkswagen's Audi Group said on Wednesday it had entered a strategic partnership with U.S.-based technology company UST, which will acquire a majority stake in Italy-based design and engineering unit Italdesign.

One in four jobs at German sports car maker Porsche is at risk, warned worker representatives on Wednesday, adding that the management was threatening to relocate production and development to lower-cost countries.

Volkswagen Group is offering early retirement to all of its 2,300 workers across its two factories in India, sources said, as the automaker seeks to overcome obstacles to growth in the world's third-largest car market.