The U.S. electric car company’s sales are sliding across Europe, amid what many see as interference in local affairs by Tesla’s chief executive, Elon Musk.
The Japanese companies are considering joining forces to survive in a rapidly changing auto industry, but auto history is filled with troubled and failed marriages.
The American automaker said the cost-cutting measure would help it compete with Chinese rivals in the face of slowing demand for electric vehicles.
The new agreement builds on an earlier announcement in which the German automaker said it would invest up to $5 billion in Rivian, a maker of electric vehicles. The new venture brings them closer.
Germany’s largest automaker rode a wave of strong sales for years, but lagging demand and pressure from China are forcing it to consider layoffs.
Germany’s largest automaker rode a wave of strong sales for years, but lagging demand and pressure from China are forcing it to consider layoffs.
The automaker reported a gain of 6.4 percent for the latest quarter, its first such increase this year.
For the first time in its 87-year history, the automaker is considering shuttering factories in Germany, citing the need to remain competitive.
The European Union took the next step toward collecting heavy tariffs on electric vehicles, ahead of a final decision in October.
VW and Rivian, a maker of electric trucks that has struggled to increase sales and break even, will work together on software and other technologies.
As the European Union moves to impose tariffs on Chinese cars, Germany, with an auto industry deeply enmeshed with China, is stuck in the middle.
The United States and Europe are trying to catch up to a rival skilled in using all the levers of government and banking to dominate global manufacturing.
Treasury Secretary Janet L. Yellen warned that China’s industrial strategy posed a global threat that requires a united response.
La economía china se beneficia del aumento de las ventas de productos manufacturados al exterior, que crea empleos. Pero el impacto podría sentirse en las fuerzas laborales de Europa y Asia.
Increasing overseas sales of manufactured goods are helping China’s economy and creating employment, but countries from Europe to South Asia may lose jobs.
The U.S. automaker’s plan to enlarge its operations outside Berlin has divided local residents. Some worry about the environmental costs; others see job prospects.
Volkswagen is shifting more operations to China, tapping the country’s electric vehicle capacity and building factories.
China, an electric-vehicle juggernaut, will have at least seven brands on display, while Germany’s automakers are now a drag on their home economy.
The electric automaker wants to produce a million cars a year at its plant near Berlin, a step that would make it Europe’s largest car factory.
The electric automaker wants to produce a million cars a year at its plant near Berlin, a step that would make it Europe’s largest car factory.