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Autoblog Minute: VW CEO Winterkorn out, rebuilding begins

Martin Winterkorn steps down as CEO of Volkswagen. Autoblog's Eddie Sabatini reports on this edition of Autoblog Minute, with commentary from Autoblog's Editor-in-Chief, Mike Austin. Show full video transcript text [00:00:00] Dr. Martin Winterkorn steps down as CEO of Volkswagen. I'm Eddie Sabatini and this is your Autoblog Minute. Dr. Winterkorn resigns in the wake of the VW emissions scandal. In a statement released to the press Dr. Winterkorn had this to say: "I am shocked by the events of the past few days. Above all, I am stunned that misconduct on such a scale was possible in the Volkswagen Group... [00:00:30] I am doing this in the interests of the company even though I am not aware of any wrongdoing on my part..." For more on what Winterkorn's resignation means for Volkswagen and the industry at large we go to Autoblog's Editor-in-chief, Mike Austin: [00:01:00] [Mike Austin Interview] The investigation into Volkswagen is ongoing and Autoblog will continue to cover the story as it develops. [00:01:30] For Autoblog, I'm Eddie Sabatini. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.

Giorgetto Giugiaro launching new design firm

Giorgetto Giugiaro may have sold his remaining shares in the Italdesign firm he started, but he's not about to retire from the business altogether. According to an interview with Automotive News Europe, he's starting a new design consultancy. And he's taking his son, Fabrizio, with him. After working for established design houses Bertone and Ghia, the celebrated designer founded Italdesign Giugiaro in 1968. In 2010 he and his son Fabrizio sold 90.1 percent of the firm to the Volkswagen Group, with Fabrizio initially carrying on as its chief designer before Wolfgang Egger replaced him. Just months ago, the Giugiaros sold their remaining stake and resigned their seats on the board of Italdesign. The move came hot on the heels of the departure of ousted board chairman Ferdinand Piech, a longtime friend of Giorgetto's and the driving force behind VW's acquisition of Italdesign. Just because they're no longer affiliated with Italdesign Giugiaro doesn't mean, however, that the Giugiaros won't be designing cars anymore. They're reportedly working on establishing a new design house, and are discussing potential contracts with unnamed Chinese and South Korean automakers. The father-son pair could set up shop in a refurbished existing location (as the pragmatic Fabrizio favors) or build a new studio from the ground up (as the visionary father prefers). We'll have to hold on to see what direction the new firm takes, but most of all, we'll be looking forward to seeing what designs it produces. News Source: Automotive News Europe - sub. req.Image Credit: Volkswagen Design/Style Hirings/Firings/Layoffs Volkswagen italdesign giugiaro Giorgetto Giugiaro

Only VW, Volvo are doing enough to electrify in Europe, study says

Among major carmakers, Volkswagen and Volvo are doing enough to electrify their vehicle lineups in Europe, and the EU needs to set tougher CO2 emission limits if it wants to meet Green Deal targets, according to a climate group's study. Sales of battery electric vehicles and plug-in hybrids almost tripled last year, boosted by tighter emission standards and government subsidies. This summer, the European Union is expected to announce more ambitious CO2 targets; by 2030, the average CO2 emissions of new cars should be 50% below 2021 levels, versus the existing target of 37.5%. Volkswagen aims to have 55% group-wide BEV sales in Europe by 2030, while Swedish carmaker Volvo, owned by China's Geely says its lineup will be fully electric by then. VW ID4 front three quarter dark View 19 Photos Based on IHS Markit car production forecasts, according to the study from European campaign group Transport and Environment (T&E), Volkswagen and Volvo have "aggressive and credible strategies" to shift from fossil-fuel cars to electric vehicles. Others like Ford Motor Co have set ambitious targets, "but lack a robust plan to get there," T&E said. Ford plans an all-electric lineup in Europe by 2030. T&E said BMW, Jaguar Land Rover (JLR), Daimler AG and Toyota rank the worst as they have low BEV sales, have "no ambitious phase-out targets, no clear industrial strategy, and an over-reliance in the case of BMW, Daimler and Toyota on hybrids." JLR, owned by India's Tata Motors, says its luxury Jaguar brand will be all-electric by 2025, but has been less specific about electrification of its higher-volume Land Rover brand. BMW and Daimler have been reluctant to set hard deadlines for phasing out fossil-fuel cars. T&E said even if carmakers meet their targets, in 2030 BEV sales could be 10 percentage points below those needed to meet the EU's Green Deal — which targets net zero emissions by 2050. Rather than a 50% reduction in CO2 emissions by 2030, based on carmakers' existing production plans, the EU could set more ambitious targets, T&E said - an up to 35% reduction in CO2 emissions from new cars by 2025, around 50% by 2027 and up to 70% in 2030. "Targets need to be gradually tightened so that carmakers not only commit to phasing out fossil fuels, but develop a strategy that gets them there on time," Julia Poliscanova, T&E senior director for vehicles and e-mobility, said in a statement.