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VW stock plummets as Euro markets open

The fallout from Volkswagen's installation of an emissions "defeat device" on nearly 500,000 diesel-fueled models in the US is already hitting the automaker hard on the German stock exchange. At one point, the share price plummeted 23 percent to erase the equivalent of $17.6 billion in value. Things eventually bounced back slightly to a still severe 19.23 percent loss, according to Bloomberg as of this writing. The scandal couldn't come at a worse time for chairman Martin Winterkorn. The VW supervisory board takes up the issue of renewing his contract on September 25, Bloomberg reports. If things get bad enough, the door could be open for a new boss to step in. Dealers in the US might start feeling the pain from this, as well. Affected 2015 VWs that are still at showrooms are now under a stop sale. Until the issue is straightened out, the Environmental Protection Agency isn't certifying the company's 2016 diesel models with the 2.0 TDI, either. The diesel emissions problem was first discovered by research from West Virginia University and the International Council on Clean Transportation. In some cases, the engines can produce 40 times more nitrogen oxides than allowed. The automaker could be on the hook for $18 billion in fines for the breach, but the actual figure is expected to be lower. In response, Winterkorn has issued a public apology and ordered an independent investigation into what happened. The EPA and California Air Resources Board have also been looking into the situation. This could become an international problem, though. According to The Detroit News, European authorities might begin similar inquires to check the automaker's diesel emissions there.

Audi, Fiat squabbling over numbers and letters

There have been rumors and speculation and prognostications about a Nissan Juke- and Mini Cooper-fighting Audi Q2 since 2012. There have been the same for a performance-oriented Q4 since 2011, perhaps previewed by the TT Offroad concept shown last year at the Beijing Motor Show. Turns out that those two alphanumeric combos are the only ones missing from the series Q1 to Q9 in Audi's trademark stable, and the Ingolstadt company wants to get them to make its badge sequence and crossover lineup complete. But Fiat owns them, and rumor is, CEO Sergio Marchionne appears to have no interest in selling them. Fiat has used the Q2 and Q4 like trim badges, identifying whether a company product has two-wheel or all-wheel drive. They did it with the Alfa Romeo 159 sedan, and they do it now on the Maserati Quattroporte S and Ghibli S Q4 sedans. Car magazine says Marchionne "may not be categorically opposed to selling the rights," but he absolutely won't do it to any fiefdom in the Volkswagen empire, which would leave Audi a jilted suitor. Why is Sergio being so serious? VW Group CEO Ferdinand Piech first starting waving torches on the bridge between the two companies when he said Alfa Romeo could sell four times as many cars if Volkswagen owned it, then burned the bridge when it continued to publicize its desire to buy Alfa Romeo. VW followed that up by throwing salt on the land around the destroyed bridge with its aggressive pricing in Europe during the worst of the car sales slump there, which Marchionne said was causing a "bloodbath." VW's final flourish was to set the river itself on fire, when a press officer said Marchionne wasn't qualified to head the European Automotive Manufacturers Association (ACEA) and VW would quit the organization if he did take the top spot. That is why, putting it optimistically, Audi looks to have a grim chance of getting the Q2 and Q4 marques from the Italian. So long as he is in power, at least: Marchionne said he's walking away from the job in 2018. Audi might have a better chance bending the knee to, and generously rewarding, his successor. Featured Gallery Audi TT Offroad Concept: Beijing 2014 View 16 Photos News Source: CarImage Credit: Live images copyright 2015 Chris Paukert / AOL Government/Legal Audi Fiat Volkswagen Crossover Luxury Sergio Marchionne trademark volkswagen group

Audi developing EV batteries with LG Chem, Samsung SDI

Audi is continuing to trickle out more details about a future electric SUV with a range of over 311 miles, and the Four-Ringed Brand now has a deal with LG Chem and Samsung SDI to use their cells in its battery design for the upcoming EV. The two companies are also agreeing to make investments in Europe to produce and supply parts there for the vehicle. "We will optimally integrate the innovative cell modules developed with LG Chem and Samsung SDI into our vehicle architecture, thus achieving an attractive overall package of sportiness and range," Dr. Ulrich Hackenberg, Audi Board of Management member for development, said in the deal's announcement. Hackenberg first publicized the EV during the brand's annual press conference this year. At the time, he confirmed that the model will use the same MLB 2 platform as the Q7 and set a launch date of early 2018. The vehicle reportedly carries the internal codename C-BEV, and a concept version might show up at September's Frankfurt Motor Show. Current rumors suggest that the EV will use a 90-kWh battery pack to achieve such a long range. Three electric motors could provide a total output of 500 horsepower and 516 pound-feet of torque. Related Video: POWERFUL BATTERY IN AUDI ELECTRIC CAR WITH CELL MODULES FROM LG AND SAMSUNG South Korean high-tech companies LG Chem and Samsung SDI to invest in European battery-cell production for Audi Battery-electric SUV with a range of more than 500 kilometers First battery-electric Audi SUV will combine sportiness and range with an emission-free driving system August 13, 2015 | INGOLSTADT, Germany -- Audi will develop the battery for a purely electrically powered sport utility vehicle on the basis of powerful cell modules from the South Korean suppliers LG Chem and Samsung SDI. The two Audi partners plan to invest in the cell technology in Europe and will supply the Ingolstadt-based car producer from their European plants. The new technology will give drivers of the Audi sport utility vehicle a range of more than 500 kilometers. "Together with our South Korean development partners, we are bringing production of the latest battery-cell technology to the EU and strengthening European industry with this key technology," stated Dr. Bernd Martens, Member of the Board of Management of AUDI AG for Procurement. The cell modules are to offer particularly high performance.