The U.S. Securities and Exchange Commission (SEC) is suing Volkswagen (VW) and its former chief executive Martin Winterkorn over the German automaker’s diesel emissions scandal, alleging a “massive fraud” on U.S. investors. VW was caught using illegal software to cheat …
Fully autonomous vehicles will take at least another five years to perfect, with the cost and complexity of rolling out the technology globally serving to undermine the business case, Volkswagen’s head of commercial vehicles said. Autonomous cars require high-tech infrastructure, …
German authorities arrested the head of Volkswagen’s luxury arm Audi on Monday, the most senior company official so far to be detained over the carmaker’s emissions test cheating scandal. Munich prosecutors, who earlier this month widened their probe into Audi, …
BMW and Daimler, the world’s top luxury carmakers, have announced alliances with suppliers, talking up the virtues of having a bigger pool of engineers to develop a self-driving car. But another motive behind these deals, executives and industry experts told …
Mercedes-Benz owner Daimler and supplier Robert Bosch are teaming up to develop self-driving cars in an alliance aimed at accelerating the production of “robo-taxis.” The pact between the world’s largest maker of premium cars and the world’s largest automotive supplier …
BMW will test autonomous vehicles in Munich next year as it seeks to keep up with ride-hailing firms like Uber, which have spent billions on pay-per-use personal transport. The German carmaker will have about 40 vehicles with self-driving functions in …
Volkswagen AG and its former chief executive have asked a U.S. federal judge in California to dismiss lawsuits filed by American investors accusing the German automaker of deception involving its cheating on diesel emissions tests. VW late on Monday filed …
Ride-hailing service Uber has sounded out car companies about placing a large order for self-driving cars, an auto industry source said on Friday. “They wanted autonomous cars,” the source, who declined to be named, said. “It seemed like they were …
Cars could be driving themselves down the world’s streets far sooner than expected, thanks to a change in a global treaty backed by European countries. A little-noticed amendment to the United Nations Convention on Road Traffic agreed last month would …
Leading European banks reported dismal profits on Tuesday, blaming everything from the continent’s debt crisis and Spain’s property market crash to Facebook’s disastrous stock market debut. Within a space of an hour UBS of Switzerland, Deutsche Bank, BBVA of Spain …
