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VW and partner SAIC start building $2.5B Audi plant in China

BEIJING — Volkswagen AG's China joint venture with SAIC Motor Corp has started building a $2.5 billion new energy vehicle (NEV) plant in Shanghai, which will make VW's luxury Audi brand cars, a possible first for the venture. The new plant is a key step for Audi to diversify production of its cars in the world's largest car market from its long-standing local partner, China FAW Group Corp. This shift has been delayed amid resistance from local dealers. SAIC Volkswagen said the new plant would have an annual capacity to make 300,000 cars and begin production from 2020. Audi sold 481,387 vehicles in China from January to September this year. The announcement comes the same week Tesla secured a Shanghai location for a Gigafactory battery plant to serve the Chinese market. Audi unveiled the plan to bolster ties with SAIC in late 2016. Earlier this year, the Germany luxury carmaker bought a 1 percent stake in the SAIC Volkswagen venture, paving the way for the joint venture to produce and sell Audi cars. Volkswagen currently gets a larger proportion of the proceeds from the 50-50 tie-up with SAIC than from its 40 percent stake in the venture with FAW. SAIC Volkswagen said in a statement on Friday the plant would cost 17 billion yuan ($2.5 billion) and would make VW and Skoda models as well as Audi cars. It will help VW tap China's fast-growing market for NEVs, a category comprising electric battery cars and plug-in electric hybrid vehicles. ($1 = 6.9314 Chinese yuan renminbi) Reporting by Yilei Sun and Adam JourdanRelated Video: Image Credit: Reuters Green Plants/Manufacturing Audi Volkswagen Skoda Electric Hybrid

Taxpayers wasted $51 million on VW diesel credits

The scope of Volkswagen's diesel emission rules evasion continues to widen with 11 million vehicles now potentially affected around the world, and the company is setting aside over $7 billion to start paying for it all. However, the costs could go even deeper. In a piece that's well worth a read, an analysis by The LA Times finds that the government distributed as much as $51 million in green car subsidies to buyers of these models in 2009 – the first year of the dishonest engine management software. The short-term effects of this scandal on VW are already quite dire. On September 21, the company's stock fell over 20 percent at one point on the German exchange, ended down 17.8 percent that day, and have continued to tank. In addition, the Environmental Protection Agency has forced a stop-sale on 2015 and 2016 diesel models with the 2.0 TDI, and the agency has begun analyzing the 3.0-liter V6 TDI in the Audi A6, A7, A8, Q5, Q7, and Porsche Cayenne to look for similar issues. The Justice Department has also started a criminal investigation, and the automaker has instituted its own external probe, as well. The emissions irregularities were first discovered by researchers at West Virginia University and the International Council on Clean Transportation. The EPA and California Air Resources Board were eventually made aware and launched their own investigations.

Volkswagen Golf voted 2013 European Car of the Year

The seventh-generation Volkswagen Golf just went on sale in Europe, but it is already off to a promising start. Announced as the Geneva Motor Show kicked off, the newest Golf was named European Car of the Year for 2013 in dominating style over cars like the Subaru BRZ/Toyota GT86 twins, Volvo V40, Ford B-Max and Mercedes-Benz A-Class.
According to Automotive News Europe, the MkVII Golf won handily over its rivals with a total of 414 votes. The Subaru BRZ and Toyota GT86 received 202 votes finishing in a distant second, while the Volvo V40 (189 votes), Ford B-Max (148 votes) and Mercedes-Benz A-Class (138 votes) round out the top five. The new Golf marks the third Volkswagen product to receive the prestigious award with previous cars including the MkIII Golf and the most recent iteration of the Polo.