Volkswagen will offer a Tesla-rivalling electric car costing below 20,000 euros ($22,836) and convert three of its factories into electric car plants as part of a far-reaching overhaul, a source familiar with the deliberations told Reuters.
German carmakers agreed to spend up to 3,000 euros ($3,430) per vehicle to help reduce diesel emissions as the government and industry respond to driving bans in major cities.
German cities are starting to introduce bans on older diesel vehicles that emit higher amounts of pollutants than later models after the country’s highest administrative court in February confirmed such bans are permissible.
Coca-Cola Co told Reuters on Thursday it is working on plans to launch its first energy drinks under the Coke brand name, jumping into a crowded field as it tries to shift away from fizzy sodas.
Britain’s Virgin Atlantic could face industrial action from some of its pilots after a union representing over half of them said it is preparing to ballot members over strike action.
D.R. Horton shares fell more than 10 percent after the largest U.S. homebuilder forecast first-quarter home sales below analysts’ estimates on Thursday, the latest sign that rising mortgage rates and higher home prices are weighing on the housing market.
Volkswagen and an independent monitoring team still have “a lot of work to do” before he can certify changes required under a U.S. Justice Department settlement, Larry Thompson, an independent compliance auditor, told a conference in a video recording on Thursday.
U.S. stocks edged lower on Thursday, as a clutch of weak earnings reports punctured a rally from the previous session, which was spurred by the outcome for midterm elections.
German Transport Minister Andreas Scheuer said on Thursday that Volkswagen and Daimler were prepared to offer hardware retrofits for older diesel vehicles at their own cost but BMW was refusing to do so.
Coca-Cola Co said on Thursday it plans to launch two energy drinks under its namesake brand, its latest move to diversify away from sugary sodas.
U.S. stocks fell at the open on Thursday following a rally in the previous session that was spurred by relief after the midterm elections, with investor focus shifting to the Federal Reserve’s interest rate decision.
Top U.S. homebuilder D.R. Horton forecast first-quarter deliveries below analysts’ estimates on Thursday, as rising interest rates push buyers to delay purchases of expensive homes.
New applications for U.S. unemployment fell slightly last week and the number of Americans receiving benefits remained at a 45-year low as strong labor market conditions continued.
U.S. stock indexes were set to dip on Thursday, following a rally in the previous session that was spurred by relief after the midterm elections, with investor focus shifting to the Federal Reserve’s interest rate decision.
Tesla Inc has ended weeks of speculation by promoting one of the electric carmaker’s independent directors, Australian accountant Robyn Denholm, to replace Elon Musk as chairman.
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