Audi, Inter Miami CF strike multiyear partnership

Volkswagen-owned Audi has struck a multiyear partnership with Inter Miami CF as the team’s official automotive partner. Courtesy: Audi Audi is driving up its sports investments and becoming the official automotive partner of Inter Miami CF. The Volkswagen-owned company announced Thursday it has struck a multiyear partnership with the South Florida soccer club as Audi … Read more

Volkswagen shares slip as it considers Brussels plant closure

A Volkswagen logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024.  David Dee Delgado | Reuters Volkswagen shares dipped Wednesday after the company issued an overnight profit warning and announced it was considering the potential closure of an Audi plant in Brussels. The … Read more

Rivian investor day focuses on cost reductions, efficiency gains

A Thursday investor event for Rivian Automotive that focused on cost-cutting efforts, efficiency gains and in-house technologies and software wasn’t enough to build upon the company’s significant share growth this week. Shares of the all-electric vehicle startup were down by roughly 2% to 6% for much of the event, eating into some of its 23.2% … Read more

Micron slides, Amazon’s $2 trillion

A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City.  Angela Weiss | Afp | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need … Read more

Amazon enters $2 trillion club

Traders walk the floor during morning trading at the New York Stock Exchange on May 14, 2024. Spencer Platt | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what … Read more

Rivian investment a ‘catch-up move’ for Volkswagen, advisory firm says

Rivian electric vehicles sit in a lot at a Rivian facility in February 22, 2024 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Volkswagen’s $5 billion investment in electrical vehicle startup Rivian is a “catch-up move” for the German automaker, but could take years to pay off, according to Cyrus Mewawalla, … Read more

Volkswagen takes $1 billion stake in EV maker

Workers assemble second-generation R1 vehicles at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, U.S. June 21, 2024. Joel Angel Juarez | Reuters Volkswagen is taking a $1 billion stake in electric vehicle startup Rivian, which has been seeking to cut costs and shore up cash amid slower-than-expected adoption of EVs. The companies also … Read more

VW 2025 Jetta updated to boost sales

Volkswagen on Tuesday announced updates for its 2025 Jetta sedan to boost sales amid industry-wide affordability concerns. The entry-level version of the Jetta with an automatic transmission will start at $21,995 when it goes on sale, expected by the end of the third quarter, the company said. That model will replace the current lower-priced model … Read more

Chinese official slams EU probe into EV subsidies as ‘selective’

Employees assemble new energy vehicles at an intelligent factory of electric vehicle company Leapmotor on April 8, 2024 in Jinhua, Zhejiang Province of China.  Vcg | Visual China Group | Getty Images BEIJING — Europe’s probe into Chinese electric cars was overly selective to the point that the results are not credible, a Chinese official … Read more

Shares of Europe’s top carmakers fall amid dieselgate lawsuit reports

A VW Golf GTI stands in a parking lot within sight of the brand tower on the grounds of the VW plant in Wolfsburg. Picture Alliance | Picture Alliance | Getty Images Shares of European carmakers fell on Wednesday following a report that some of the world’s largest auto manufacturers face possible lawsuits in Britain … Read more