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Scandal-hit Volkswagen says to slash 30,000 jobs

Volkswagen announced plans yesterday to cut 30,000 jobs in a wide-ranging restructuring of its namesake brand as it tries to recover from a scandal over cars rigged to cheat on diesel emissions tests....

November 19, 2016, Saturday

Another China Tie-Up

VOLKSWAGEN AG, which has already announced moves into ride-hailing and plans to become a major player in China’s new-energy vehicle market, yesterday signed a partnership agreement with Shouqi Group on ...

November 19, 2016, Saturday

Foreign, local carmakers fear China plans to end tax break

Carmakers in China are fretting over whether a tax break that has propped up sales this year will be extended, with an end to the policy possibly leading to the first annual decline in sales on record...

November 19, 2016, Saturday

Toyota sets up in-house e-car unit

Toyota Motor Corp is setting up a new in-house unit to develop electric cars, offering its strongest endorsement yet of a technology it has not embraced wholly, as take-up of a rival technology it pioneered...

November 18, 2016, Friday

Didi, VW discuss ride-hailing deal

Volkswagen AG said yesterday that it is in talks with China’s Didi Chuxing to set up a high-end ride-hailing service, while also announcing ambitious sales goals for electric and hybrid vehicles in the...

November 18, 2016, Friday

Min’an Auto gets coveted e-car permit

JIANGSU Min’an Electric Automobile Co has become the fifth company to gain a permit that allows it to produce electric vehicles in China since June last year when the country issued new rules for establishing ...

November 16, 2016, Wednesday

Leshi gains US$600m for auto unit

China’s Leshi Holdings said yesterday that it has secured commitments for US$600 million to support its automotive unit and LeEco high-tech business, which has been grappling with a cash crunch. In a ...

November 16, 2016, Wednesday

SAIC-VW to make Audi models

CHINA’S SAIC Motor Corp and Volkswagen have signed an agreement that could pave the way for SAIC-Volkswagen, the German automaker’s joint venture with Shanghai-based SAIC, to make Audi-brand cars. SAIC ...

November 15, 2016, Tuesday

Toyota pays US$3.4b for class suit

TOYOTA Motor Corp has agreed to a settlement of up to US$3.4 billion for a federal class action brought by US owners of pickup trucks and SUVs whose frames could rust through, plaintiffs lawyers have ...

November 14, 2016, Monday

Shanghai, Michigan sign MOU

SHANGHAI International Automobile City Group yesterday signed a memorandum of understanding with Michigan Economic Development Corporation to cooperate in autonomous interconnected vehicle research. “Both ...

November 14, 2016, Monday