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German prosecutors raid VW, Audi offices

As Volkswagen continues to try to put its diesel emissions scandal behind it, the company has had mixed success. It has agreed to pay penalties and fix or buy back affected vehicles in the US, and has made a strong push to evolve into a greener, mobility-focused company. The scandal just won't die, though, and has, in fact, just escalated. Prosecutors have searched Volkswagen's Wolfsburg, Germany, headquarters, as well as Audi offices in Ingolstadt and Neckarsulm and even the homes of some Audi executives, Reuters reports. The raids, which coincided with Audi's annual earnings press conference, are related to 80,000 diesel vehicles with possible emissions cheat devices sold in the US between 2009 and 2015. European vehicles aren't part of this particular investigation. "With these search orders, we aim to clarify in particular who was involved in deploying the technology concerned and in the provision of false information to third parties," the Munich prosecutor's office says. Audi CEO Rupert Stadler, who says his residence had not been one of those searched, says he is supporting the ongoing investigation, admitting that the company has a long way to go to recover from the scandal. The Dieselgate scandal, as it has come to be known, broke in September 2015. Related Video:

Skoda plans big investment into electric cars as part of rebound effort

PRAGUE — Czech carmaker Skoda, part of the Volkswagen Group, said on Wednesday it would invest around 2.5 billion euros over the next five years on future technologies, with more than half going to electric vehicle investment. The Czech Republic's largest exporter is hoping for a rebound in 2021 from a global car sales drop but faces uncertainty over the coronavirus pandemic and a semiconductor shortage rattling the industry. "This year is likely to be another big challenge," finance director Klaus-Dieter Schuermann said. "We expect Skoda Auto's group performance to improve, with sales revenue significantly above the level of last year." Skoda reported on Wednesday a 54.5% drop in 2020 operating to 756 million euros ($894 million). Sales revenue dropped 13.8% to 17.1 billion euros. Global deliveries remained above 1 million cars for a seventh straight year despite a 19% drop after production outages at the outset of the pandemic and a fall in China, its biggest single market. Chief Executive Thomas Shaefer said the car company was managing the semiconductor shortage "but it will follow us for awhile" and the impact was not visible yet. Skoda's core market in Europe would be electric in the future, Shaefer said, although it was still not time to completely switch away from traditional models, which include the launch last year of a new generation of its flagship Octavia model. It has also started production of the all-electric Enyaq iV model, which is a version of Volkswagen's ID.4. Skoda plans investments of 1.4 billion euros into electromobility development as part of its five-year investment plan. Investments will also go into digitalization activities and plant modernization. Related video: Green Volkswagen Skoda Electric

Hyundai tops VW and Buick in China, survey says

You may be aware of the long-time competition in China between Volkswagen and Buick, but another brand apparently should be in that conversation too: Hyundai. In a recently published annual consumer survey, the Korean company actually took the top spot to beat out its German and American rivals in second and third, respectively. The results were part of the China Brand Power Index that interviewed 11,500 people around the nation and was paid for by the country's Ministry of Industry and Information Technology. While Hyundai proved popular with voters, its sales haven't necessarily shown that yet. According to Bloomberg, the brand had falling numbers in China for the first quarter of the year. Even Ford outsold the South Korean automaker in the same period, despite scoring lower on the survey. Meanwhile, Audi ranked as the populace's favorite luxury brand, which is hardly a surprise given the Four Rings' strong sales in China. In January alone the automaker saw a 15-percent boost in volume there. Parent company VW's strong performance was somewhat more surprising, though. State media severely criticized the German automaker in March, and customers protested last year for the allegedly poor handling of a recall.