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VW ready to spend $25B on at least 6 EVs in China by 2018

Standing next to the lovely GTE plug-in hybrid during the Beijing Motor Show, VW CEO Martin Winterkorn announced a renewed, $25-billion focus for the German automaker on electric mobility in China. EVs + China is not a new equation for VW (see here and here and here), but the time is now for the plan to come together, apparently. As Winterkorn said in a statement (available below), "We are launching the biggest initiative for e-mobility in China's automotive history." "We are launching the biggest initiative for e-mobility in China's automotive history" – Martin Winterkorn With the Porsche Panamera S E-hybrid already in showrooms, the next tip of the spear is made up of the all-electric e-up! and e-Golf, both of which are due later this year. In 2015, the Audi A3 e-tron and Golf GTE will arrive. In 2016, there will be two exclusive-to-China plug-in hybrid vehicles in showrooms: a A6 PHEV and a "new mid-size limousine from the Volkswagen brand." VW Group may even throw in the Bentley Hybrid Concept for good measure. The China-only models will be built in the country and VW is investing over $25 billion between now and 2018, creating an expected 20,000 jobs. VOLKSWAGEN GROUP STARTS ELECTRO-MOBILITY CAMPAIGN IN CHINA CEO Prof. Dr. Winterkorn: "We are launching the biggest initiative for e-mobility in China's automotive history." Campaign gets underway with electric up!1 and e-Golf2 Over ˆ18 billion to be spent on new vehicles, technologies and plants up to 2018 Over 500,000 employees at more than 3,600 dealerships in 2018 Vehicle deliveries in China targeted to top 3.5 million for first time in 2014 Wolfsburg / Beijing, April 22, 2014: "The Volkswagen Group is once again assuming a pioneering role in China and launching the biggest initiative for e-mobility in China's automotive history," Prof. Dr. Martin Winterkorn, CEO of Volkswagen Aktiengesellschaft, announced at the Auto China motor show in Beijing. The initiative gets underway with the launch this year of the Volkswagen brand's electric up!1 and e-Golf2 models. While the Porsche Panamera S E-hybrid3 is already in the showrooms in China, the Group will be launching two further innovative plug-in hybrid vehicles there next year with the Audi A3 e-tron4 and the Golf GTE5.

Volkswagen showcasing latest emergency vehicles at RETTmobil

RETTmobil may not be the top show on our calendars, but it's the top destination for police and emergency vehicles in Europe. The show opens this week in Fulda, Germany, and Volkswagen has revealed some of the vehicles it'll be presenting to first responders there this year. Leading the charge will be the new Golf Alltrack that has been set up specially as a command car, with special lighting, graphics and equipment like an accident data recorder and unique control panel. It'll be joined as well by specially equipped versions of the Passat, Tiguan and Touareg. Volkswagen Commercial Vehicles will also be on hand to showcase an Amarok pickup set up as a beach patrol car (you know, just in case Hasselhoff happens to be in town for the show), as well as a Transporter T6 van set up as an armored personnel carrier and a Crafter ambulance. Volkswagen prasentiert sich auf der RETTmobil 2015 - Golf Alltrack erstmals als Kommandowagen vorgestellt - Transporter T6 feiert Premiere als Mannschaftstransportwagen Hannover / Fulda, 4. Mai 2015 – Mit einer vielfaltigen Produktpalette prasentiert sich Volkswagen ab dem 6. Mai auf der RETTmobil 2015. Messehighlights sind der neue Volkswagen Transporter, der seine Premiere als Mannschaftstransportwagen feiert und der neue Golf Alltrack, der dort erstmals als Kommandowagen zu sehen ist. Bis zum 8. Mai konnen sich Besucher auf der internationalen Leitmesse fur Rettung und Mobilitat in Fulda uber Sonderfahrzeuge fur Rettungseinsatz und Krankentransport informieren. Am Volkswagen Messestand (Halle 3, Stand 303) prasentieren ein speziell ausgestatteter Golf Alltrack und ein Passat Variant 4Motion, das vielfaltige Leistungsspektrum der Marke Volkswagen Pkw fur den Rettungseinsatz. Beide Modelle sind als Kommandowagen aufgebaut und verfugen uber eine umfangreiche Sonderausstattung fur den Einsatz-betrieb wie etwa Digitalfunkvorbereitung, ein Sondertastenbedienfeld und eine Sondersignalanlage mit Blaulichtleuchte. Die Fahrzeuge sind ausserdem mit dem Unfalldatenspeicher UDS ausgestattet, der den Ablauf eines Ereignisses gerichtsverwertbar dokumentiert. Ein besonderes Messehighlight ist der neue Transporter T6 als Mannschaftstransportwagen. Das beliebte Einsatzfahrzeug von Feuerwehr und Rettung wird farblich passend in Rot-Weiss vorgestellt und bietet mit bis zu funf Einzelsitzen viel Platz fur das Einsatzpersonal und die notwendige Ausrustung.

If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.