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German states vow to work together to save Volkswagen sites

German states vow to work together to save Volkswagen sites BERLIN, Oct 14 (Reuters) - The four German states with a Volkswagen VOWG_p.DE presence want to work together to ensure that the struggling carmaker does not shut any of its plants, the states' economy ministries said in a joint position paper seen by Reuters on Monday. The number one goal is to fully preserve all sites, said the ministries of Lower Saxony, Saxony, Hesse and Berlin.
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Xpeng's Gu: 'We are open to doing more with Volkswagen'

Xpeng's Gu: 'We are open to doing more with Volkswagen' PARIS, Oct 14 (Reuters) - Chinese electric vehicle maker Xpeng 9868.HK is "open to doing more" with Volkswagen VOWG_p.DE , co-president Brian Gu told Reuters at the Paris car show on Monday. Xpeng and Volkswagen forged a partnership last year, when the German carmaker bought 4.99% of Xpeng for
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Northvolt says it has paid tax bill due Monday

UPDATE 2-Northvolt says it has paid tax bill due Monday Adds background in paragraphs 7 and 9 STOCKHOLM, Oct 14 (Reuters) - Swedish battery maker Northvolt said on Monday it had paid a monthly tax bill for October, in line with a company statement last week, as doubts had emerged in media on whether the cash-strapped group would be able to do so. Northvolt in recent months has gone from being Europe's best shot at developing electric-vehicle battery independence from China to racing to raise mon
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China-Europe rivalry heats up at Paris car show as EV tariffs loom

UPDATE 5-China-Europe rivalry heats up at Paris car show as EV tariffs loom Chinese brands including BYD, Leapmotor unveiling new models European automakers out in force to defend home turf EU planning tariffs on Chinese-made EVs amid weak market BYD warns tariffs will lead to higher prices, deter buyers Adds more Tavares comments in paragraph 5 By Nick Carey PARIS, Oct 14 (Reuters) - Chinese and European automakers went head-to-head at the Paris car show on Monday, with tensions running high as
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VW sell combined 252,410 cars in China in Sept

BRIEF-FAW-VW, SAIC-VW sell combined 252,410 cars in China in Sept Oct 14 (Reuters) - The China Passenger Car Association (CPCA): FAW-VW, SAIC-VW SOLD A COMBINED 252,410 PASSENGER VEHICLES IN CHINA IN SEPT Reporting by Beijing newsroom
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Northvolt says it has paid tax bill due Monday

CORRECTED-Northvolt says it has paid tax bill due Monday Removes reference to sum paid by the company, removes extraneous letters in dateline STOCKHOLM, Oct 14 (Reuters) - Swedish battery maker Northvolt has paid a tax bill that was due on Monday, a spokesperson for the cash-strapped company said. ($1 = 10.3922 Swedish crowns) Reporting by Marie Ma
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Stellantis CEO Tavares in Paris spotlight over US crisis

FOCUS-Stellantis CEO Tavares in Paris spotlight over US crisis Stellantis CEO scheduled to speak at five car show events Under pressure to fix US business after big profit warning Tavares has said he will step down in 2026 Updates paragraph 1, adds Tavares comment in 4 By Nick Carey, Ben Klayman and Gilles Guillaume PARIS, Oct 14 (Reuters) - Stellantis STLAM.MI CEO Carlos Tavares kicked off a packed schedule of public events at the Paris auto show on Monday with defiant comments about the compan
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Bunzl, Equinor ASA, L'Oreal

EUROPE RESEARCH ROUNDUP-Bunzl, Equinor ASA, L'Oreal Oct 14 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Bunzl, Equinor ASA and L'Oreal, on Monday. HIGHLIGHTS * Adidas AG ADSGn.DE : UBS raises target price to EUR 279 from EUR 275 * Bunzl BNZL.L : JP Morgan raises to overweight from neutral * Equinor ASA EQNR.OL : Morgan Stanley raises to equal weight from underweight * L'Oreal OREP.PA : Citigroup cuts target price to EUR 420 from
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Rectangular steering wheels, floating cars and deluxe EVs debut at Paris auto show

FACTBOX-Rectangular steering wheels, floating cars and deluxe EVs debut at Paris auto show PARIS, Oct 14 (Reuters) - Chinese and European automakers are launching new models at the Paris auto show on Monday, with both heavily focusing on their electric ranges, even as demand slows and the EU gears up to impose tariffs on Chinese-made EVs later this month.
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Chinese and European automakers face off at Paris car show

Chinese and European automakers face off at Paris car show Chinese brands including BYD, Leapmotor to unveil new models European automakers out in force to defend home turf EU planning tariffs on Chinese-made EVs amid weak market GAC says show marks launch of its European expansion By Nick Carey PARIS, Oct 14 (Reuters) - Chinese and European automakers are going head-to-head at the Paris car show on Monday, with tensions running high as the EU gears up to impose hefty import tariffs on Chinese-m
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Stellantis CEO Tavares in Paris spotlight over US crisis

FOCUS-Stellantis CEO Tavares in Paris spotlight over US crisis Stellantis CEO scheduled to speak at five car show events Under pressure to fix US business after big profit warning Tavares has said he will step down in 2026 By Nick Carey, Ben Klayman and Gilles Guillaume PARIS, Oct 14 (Reuters) - Carlos Tavares' packed schedule of public events at the Paris auto show on Monday signals the Stellantis STLAM.MI CEO will come out fighting after a massive profit warning in late September, even after a
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Low-cost hybrid tech gives Renault breathing space in tough EV transition

FOCUS-Low-cost hybrid tech gives Renault breathing space in tough EV transition Renault's hybrid sales rise 55% in January-August French carmaker's low-cost hybrid tech uses fewer parts Renault's EV sales stagnant, needs 20% EV sales to meet 2025 CO2 targets - source By Gilles Guillaume PARIS, Oct 14 (Reuters) - Renault CEO Luca de Meo's bet on a low-cost gearbox technology is allowing the French carmaker to gain ground in Europe's fast-growing hybrid car market, giving it some breathing space a
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German SPD lays out campaign for industry growth, job protection, tax breaks

German SPD lays out campaign for industry growth, job protection, tax breaks SPD proposes investment support, tax breaks to boost economy Advocates tax relief for investors, electric car bonuses Seeks power network fee savings for industry FRANKFURT, Oct 13 (Reuters) - Germany's Social Democrats (SPD), led by Chancellor Olaf Scholz, presented on Sunday an agenda for tax breaks and investment support in a bid to preserve jobs in industry and appeal to voters in general elections due in September
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Moody's cuts Volkswagen's outlook to 'negative' due to operating weakness

Moody's cuts Volkswagen's outlook to 'negative' due to operating weakness FRANKFURT, Oct 11 (Reuters) - Rating agency Moody's has cut its outlook on Volkswagen VOWG_p.DE to "negative" from "stable", citing a deteriorating operating performance at Europe's top carmaker and expected challenges to turn the situation around. "We expect VW's operating performance to be muted into 2025 driven by low volume growth globally including a weak domestic China and sluggish Western Europe, increasing price pr
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China trade tensions cast shadow on automakers' investment plans, TomTom CEO says

China trade tensions cast shadow on automakers' investment plans, TomTom CEO says By Mathias de Rozario Oct 11 (Reuters) - Trade tensions between China and the West have put a dampener on carmakers' investment decisions and longer-term outlooks, creating a level of uncertainty in the industry, the CEO of digital mapping specialist TomTom said on Friday.
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Volkswagen's deliveries drop, highlighting Europe's car industry challenges

UPDATE 1-Volkswagen's deliveries drop, highlighting Europe's car industry challenges Adds quotes on China, and BEV sales there; paragraphs 6-9 Oct 11 (Reuters) - Volkswagen Group VOWG_p.DE on Friday reported a 7% decline in third-quarter global deliveries, showing how Europe's car industry is facing tough challenges , including weak demand from China and high production costs at home.
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STOXX 600 touches 1-week high; China stimulus, earnings eyed

UPDATE 2-STOXX 600 touches 1-week high; China stimulus, earnings eyed For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Investors await further details on China's stimulus Little reaction in French stocks after budget Stellantis drops as CEO Tavares to retire Moody's cuts Volkswagen's outlook to 'negative' Updated at 1543 GMT By Paolo Laudani, Sruthi Shankar and Johann M Cherian Oct 11 (Reuters) - European stocks reversed early losses and
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Volkswagen Q3 deliveries down, confirming challenges to European auto sector

Volkswagen Q3 deliveries down, confirming challenges to European auto sector Oct 11 (Reuters) - Volkswagen Group VOWG_p.DE reported a 7% decline in third-quarter global deliveries on Friday, showing the extent of challenges faced by the European auto sector. Europe's top automaker is undergoing a major revamp as it considers German plant closures for the first time due to weak European demand, competition from China, challenges presented by vehicle electrification, and high production costs in G
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Northvolt in talks for about 200 million euros in funding, sources say

EXCLUSIVE-Northvolt in talks for about 200 million euros in funding, sources say Northvolt seeks 200 million euros to stabilise finances short-term Scania spearheads talks, BMW not involved in fundraising Northvolt faces production issues and competition from China German government says Heide factory project unaffected Adds details on funding in 5th and 11th paragraphs, Scania and BMW in paragraphs 14-17 and context in 4th paragraph and paragraphs 20-21, German govt spox in graphs 18-19 By Anou
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Tesla to give permanent jobs to 500 temporary staff at German gigafactory

UPDATE 1-Tesla to give permanent jobs to 500 temporary staff at German gigafactory New throughout, adds details, background and comments from Tesla FRANKFURT, Oct 10 (Reuters) - Tesla TSLA.O on Thursday said it would give permanent jobs from Nov. 1 to 500 temporary workers at its German gigafactory near Berlin, in what the U.S. electric carmaker called an " optimistic assessment of the further development of e-car production" .
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