Top News:
- Volkswagen expresses frustration over pace of scandal inquiry – Reuters: “Then this could be the turning point for Volkswagen. … are being introduced into the engineering processes of the Volkswagen brand,” the letter said.
- Mitsubishi Motors president, vice president announce resignations – Nikkei:
- Opel CEO refutes rigged emissions allegations – Just-auto: Opel Group CEO Karl-Thomas Neumann has reiterated the company’s strong rebuttal of claims in the German media that it has rigged emissions tests on some of its diesel engine models.
- Toyota to build second plant in Malaysia – Just-auto: Toyota Motor plans to build a second vehicle assembly plant in Malaysia to tap into growing regional demand, according to reports in Japan quoting company sources.
- Activist investor TCI reiterates VW should lower labour costs – Reuters: TCI reacted to a letter sent by Volkswagen Chief Financial Officer Frank Witter … Then this could be the turning point for Volkswagen,” TCI partner Ben …
- CompaniesVolkswagen concedes to pay overhaul demands from investor TCI – FT: Volkswagen has sent a letter to the activist hedge fund that has attacked the way it pays its top management, conceding that “the current system…
- VW to Lift Profit, Review Management Pay Amid Investor Outcry – Bloomberg: Volkswagen AG promised to improve profitability and review management pay, seeking to defuse growing investor criticism in the wake of the…
- VW seeks dismissal of some U.S. emissions claims – Automotive News: VW asked a California judge to dismiss some claims in a suit filed by the U.S. government over diesel vehicles rigged to cheat pollution controls. VW said the U.S.
- Suzuki admits breaking fuel rules, denies intent to deceive – Nikkei:
- German cabinet gives green light to electric car incentives – Reuters: Under the new plans, electric cars will be exempt from paying vehicle tax for ten … Employees who charge their electric vehicles at work will also pay a …
- Hyundai Motor to launch new fuel cell car in early 2018: exec – Reuters: Hyundai launched the world’s first mass-produced fuel cell vehicle in 2013, dubbed the Tucson Fuel Cell, but sales have trailed
- Mitsubishi Motors President to Resign as Mileage Scandal Widens – Bloomberg: Mitsubishi Motors said its management created an environment for fraud, adding to disclosures that the company tested nine vehicles improperly and…
- Volkswagen tells hedge fund TCI it welcomes investor dialogue – Reuters: In a letter sent by Volkswagen Chief Financial Officer Frank Witter on May … “The Volkswagen Group always welcomes constructive dialogue with its …
- Fiat Chrysler shares rise on report of Guangzhou Auto interest – Automotive News: Milan-listed shares in Fiat Chrysler Automobiles rose more than 3 percent today after a media report suggested that China’s Guangzhou…
- Renault Samsung to introduce Twizy ultra-small electric car in Korea – Yonhap: The move comes as South Korea has decided to lift regulations in a way that allows people to drive ultra-small electric vehicles everywhere except on…