2014 Audi Rs5 on 2040-cars

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Investors storm Volkswagen with $9 billion in lawsuits

Volkswagen's investors are latest group to take up pitchforks against the embattled automaker, and they're seeking $9 billion in damages, Reuters reports. The investor lawsuits were filed in a court in Braunschweig, Germany, near Volkswagen's Wolfsburg headquarters. On Monday, the first business day following the anniversary of the emissions revelations, the court received 750 lawsuits alone. All told, about 1,400 lawsuits have been filed. The largest single claim totals $3.7 billion and was filed more than six months ago. The lawsuits stem from complaints that Volkswagen didn't divulge information on the cheating software to investors quickly enough. Volkswagen has said that it hasn't broken any capital market laws. The $21.5 billion the company set aside to weather the storm may not be enough. The consumer fix is estimated to run the company $14.7 billion, either through buybacks or a fix that still seems unclear. In addition to the lawsuits, Volkswagen CEO Matthias Mueller confirmed that Audi boss Rupert Stadler is under investigation regarding the scandal. Mueller refused to give further details, but this shouldn't come as a surprise to anyone. Audi has admitted that its 3.0-liter V6 was equipped with the same emissions-cheating software as the 2.0-liter four-cylinder diesels. Stefan Knirsch, Audi's head of development, has been suspended as part of the overall investigation. Knirsch took over duties after his predecessor quit. Knisch was previously head of engine development at Audi. Related Video: News Source: Reuters Green Hirings/Firings/Layoffs Audi Volkswagen Emissions Diesel Vehicles vw diesel scandal

5 stars in Euro NCAP crash tests for 5 new cars available in U.S.

Seven new cars have received a full five-star rating in the latest Euro NCAP crash tests. Of these, five are available in the United States: the Audi E-Tron, Lexus UX, Toyota Corolla, RAV4 and Mazda3. The Renault Clio and the Volkswagen T-Cross also took part, also receiving five stars. The Mazda3 hatchback was the fourth car in Euro NCAP history to reach an adult occupant protection score of 98%, after the Volvo V40 and XC60 and the Alfa Romeo Giulia. No NHTSA ratings for the Mazda3 or the Audi are yet available, but the Lexus and the Toyotas have all received five-star NHTSA safety ratings as well. Those three were tested as hybrid variants by Euro NCAP. Audi's first fully electric vehicle, the E-Tron, scored 91% in Euro NCAP's adult occupant rating, with unavailable knee airbags bringing down the score. The Mazda and the Toyotas offer them for the driver only, and the Lexus has the passenger's knees covered as well. The Lexus UX managed a 96% adult occupant score, close to the Mazda, and it provided better pedestrian safety (82%) than the Audi (71%), despite neither, or none, of the test vehicles having an active hood to catch pedestrians. As for the Toyotas, the Corolla, tested in both sedan and hatchback guises, scored 95% for adult occupant safety, with the RAV4 a couple notches down at 93%. Still, the five-star rating means all these vehicles are a very safe choice in their respective classes. Michiel van Ratingen, secretary general of Euro NCAP, states how important it is that even family hatchbacks perform well and have the latest safety tech available. "It is encouraging to see that all manufacturers did well, regardless of type of powertrain or class of vehicle tested," said van Ratingen. "New cars on the market continue to offer more advanced technology as standard, systems that were not even considered an option a few years ago." More crash test videos are available on Euro NCAP's YouTube channel. Audi Lexus Mazda Toyota Car Buying Safety audi etron lexus ux

Audi, BMW, Daimler buy Nokia's Here digital mapping business

The fight for control of Nokia's Here digital mapping service appears to have drawn to a close as a consortium of German automakers has announced a deal to jointly acquire the business from the Finnish telecom giant. As anticipated, ownership in Here will now be taken over jointly by Audi, BMW, and Daimler, beating out reported rivals bids from the likes of Apple and Uber. Here is one of the largest and most advanced digital mapping and location systems. It started out in Chicago in 1986 as Navteq before Nokia acquired it in 2007, and is now slated to change ownership again. The cloud-based service maintains high-definition digital maps for nearly 200 countries and supports over 50 languages, gathering data from users to update the data continuously. Rather than transition the service into their own proprietary technology, however, the automakers insist that it will remain open "to all customers from the automotive industry and other sectors." Ownership will be shared equally between the three companies, with "none of them seek[ing] to acquire a majority interest" in Here. For another, Here's management is promised to remain independent, and "the consortium will not interfere into operational business." Though the purchase price has not been disclosed, it is rumored to be worth in the neighborhood of $2.7 billion. Assuming it passes regulatory approval, the acquisition is slated to be completed in the first quarter of next year. The German automakers anticipate implementing the service to provide connected vehicles with accurate, up-to-date information on road and other conditions. Examples it outlines include warning other drivers of icy conditions based on outside temperature and ABS activation. It could also warn drivers of impending traffic jams, or even guide traffic through green lights in an urban environment. In the future, the highly detailed maps are envisioned to enable fully automated driving as well. Related Video: AUDI AG, BMW Group and Daimler AG agree with Nokia Corporation on joint acquisition of HERE digital mapping business Ingolstadt, Munich, Stuttgart, Aug 03, 2015 - Acquisition will secure and strengthen HERE as an independent company serving customers from all industries - Real-time maps and location based services will be the basis for the mobility of tomorrow - Transaction expected to close in first quarter 2016 Ingolstadt, Munich, Stuttgart – August 3rd, 2015.