One of the handful of Volkswagen Group executives that have been forced to appear in front of a judge over the company’s widespread emission scandal, Oliver Schmidt, has exclaimed he was misused by his employer after issuing a guilty plea. Unless the charges are revised prior to sentencing, the former VW employee has copped to conspiracy to defraud the federal government and violating the Clean Air Act. A third charge of aiding and abetting wire fraud was rolled into the conspiracy charge.

The admission to corporate wrongdoing was made in August. However the claim that the company had taken advantage of him came later via a letter to U.S. judge Sean Cox.  (Read More…)

Porsche is considering an electrified variant of the iconic 911, which isn’t all that surprising, considering Volkswagen Group wants a battery-enhanced version of every model it builds. But changing the 911 is tantamount to sacrilege among some circles and is likely to receive some mixed responses.

That said, it’s not as if the model remained unchanged since 1963. Porsche has implemented loads of electronic aids over the last decade and even chucked in a turbocharger. Besides, Ruf Automobile already built an all-electric 911 — which it called the eRuf Model A — way back in 2008. The foundation has been set. But we’re not convinced Porsche will walk that path.

Much more likely is that the company will use electric motors to supplement a semi-traditional internal combustion unit, or perhaps utilize a 48-volt mild hybrid system. (Read More…)

When we were told the electric revolution was on its way, most of us probably assumed at least some of that vehicular renaissance would take place outside of China. But Asia is where all the hot EV action lives, so that’s where the money goes.

Volkswagen, now promising one of the industry’s most ambitious pushes into electrification, plans to invest $11.8 billion through 2025 to develop and manufacture all-electric and plug-in hybrid vehicles in China, as the nation’s emission mandates become progressively more stringent. (Read More…)

Curious as to whether Volkswagen’s management agreed to “excessive” payments of its chief labor representative, German prosecutors raided the carmaker’s headquarters. While a raid certainly sounds bad, it seems like the only way the country’s government bothers to acquire information from automotive manufacturers anymore.

This year alone, VW has been subjected to numerous raids relating to its diesel emission scandal and possible pricing collusion between BMW and Daimler. While one imagines a swarm of suits, backed by uniformed officers, as employees frantically shred documents, the frequency of such impromptu investigations probably just leaves staffers annoyed. I’m starting to think the German government likes showing up unannounced more than the country’s car builders enjoy illicit activities. (Read More…)

After an extended battle with his family, Ferdinand Piëch has finally acquiesced to resign from the board of Porsche Automobil Holding SE and sell off his remaining shares. At 80 years of age, leaving VW Group’s parent company was probably long overdue for Piëch, but you can’t help but wonder if the manner in which his retirement unfolded hasn’t left him bitter.

Still, with his 14.7 percent stake rumored to be worth over a billion euros, he’ll have the means to stage the most elaborate revenge any of us could possibly imagine — assuming that’s what he intends. One certainly could make the case that he’d have valid reasons for doing it.  (Read More…)

Having already dropped itself into an ocean of electric car R&D, Volkswagen is now making plans to develop battery-powered commercial vehicles aimed at servicing urban areas where public officials are having night terrors about air quality.

Jürgen Stackmann, VW’s board member responsible for sales and marketing, promised the company would be at “full steam” on EV production and development by 2020. That includes a battery-only option for “all styles and body types” by 2030, according to Stackmann. But the brand wants to have something similar on the table for trucks and buses before then.

Volkswagen Truck & Bus is investing 1.4 billion euros ($1.7 billion) into new electric drivetrains for use in both medium and heavy-duty distribution transport and city buses. While that development will go toward European vehicles initially, VW and strategic partner Navistar will use the “e-drivetrain” platform on U.S.-based electric trucks from 2019 onwards.  (Read More…)

Financial analysts and industry experts have been expecting Volkswagen to begin selling assets to help cope with the cost of its diesel emissions cheating scandal. The penalty for its deception may have already reached $24.2 billion, and German lawsuits could tack on another $8 billion.

However, Europe’s largest automaker says it’s not interested in selling off properties to recoup losses associated with the scandal. It has another plan to rake in the cash. (Read More…)

Throughout the entirety of Volkswagen’s diesel emission scandal, the automaker has changed its tune on several occasions. After evading scrutiny from regulators for years, it finally admitted to installing illegal defeat devices designed to fool U.S. emission testing in late 2015. However, it assured the public that no high-ranking executive had complete knowledge of the misdeed until news of the scandal broke to outraged consumers.

Obviously, that was a lie. But no damning evidence came out indicating anyone above mid-level management had prior knowledge of the devices or any idea they would be so harmful to the company. But now a Volkswagen manager arrested earlier this year claims the automaker’s former chief executive and other top managers had been told the carmaker’s diesel emissions violations could cost up to $18.5 billion, well before the September 2015 announcement.  (Read More…)

As part of its emissions cheating penance, Volkswagen AG previously agreed to support clean vehicles by injecting a juicy $2 billion into green initiatives in the United States. A whopping $800 million of that sum was reserved for California. On Thursday, state legislators pressed the automaker to spend electric charging infrastructure funds in low-income areas, passing a bill included in a budget package supported by Governor Jerry Brown.

The reasoning behind forcing VW to install more charging stations in disadvantaged communities is twofold. First, and most obviously, is the fact that poorer neighborhoods typically don’t receive the same level of infrastructure advancement as affluent or high traffic areas. In fact, they’re probably the last place the state would bother installing EV charging stations. Secondly, it’s a good way to keep this punishment from becoming a business opportunity.

Criticism arose when rival automakers realized Volkswagen’s charging network could become profitable and give it an early advantage in a competitive new market, especially if it could handpick the sites.  (Read More…)

Porsche Automobil Holding SE has denied it intentionally misled investors over the severity of the VW emissions cheating crisis in 2015. With Volkswagen AG’s Chief Executive Officer Matthias Müller now personally caught up in the growing market manipulation investigation, it was only a matter of time before Porsche Automobil Holding released a statement to assure investors the board had done its job appropriately.

Müller’s joining of former VW CEO Martin Winterkorn, supervisory board chair Hans Dieter Poetsch, and board member Herbert Diess as the focus of government probes has made the situation appear fishier than a trawler’s top deck. However, at this week’s annual shareholders meeting, Poetsch said he is convinced none of the board members are guilty of any wrongdoing — presumably, he included himself in the statement.

“We perceive all legal claims against Porsche SE relating to the diesel issue as unfounded,” he explained.  (Read More…)

German prosecutors verified the launch of a formal investigation involving Volkswagen Group CEO Matthias Müller and chairman Hans Dieter Poetsch due to suspected market manipulation.

While we reported on the probe last week, Müller’s inclusion was highly unexpected. It was unclear what, if anything, officials had on the CEO and why they waited until now to add him to the growing number of upper-level executives under examination.

The Stuttgart prosecutor’s office stated on Wednesday the investigation was prompted by a request from market regulator BaFin in the summer of 2016. After spending some time gathering evidence, investigators began to believe executives deliberately postponed releasing information to investors about the scale of the scandal and didn’t adequately disclose its financial consequences.

VW Group maintains the leadership had complied with disclosure rules and executives were unaware of the scope of the emissions cheating scandal when it kicked-off.  (Read More…)

Volkswagen Group CEO Matthias Müller is under investigation in Germany over the possibility he withheld important information on the company’s emissions scandal to investors, as well as potential market manipulation relating to Porsche. While public prosecutors continued to broaden their search among high-ranking company officials, the inclusion of the CEO is a bit of a surprise.

It was widely believed Müller would be free from scrutiny as he was appointed to replace ex-CEO Martin Winterkorn shortly after the emissions scandal went public in September 2015. Initially, German investigators even stated the CEO was not suspected of any wrongdoing. Then, in March of 2017, prosecutors launched a raid that seized the mobile phones, electronic passwords, appointment books, and email files of numerous Volkswagen and Audi employees — including Müller.  (Read More…)

Volkswagen AG announced at its annual shareholders meeting this week that it will not be publishing the findings of an external investigation into its diesel emissions scandal conducted by the Jones Day law firm. The reason for VW’s secrecy is due to an underlying fear among management that the information held in the report would lead to further lawsuits and fines.

VW Chairman Hans Dieter Pötsch addressed the thousands of shareholders by first thanking the U.S. legal team for its hard work and then explaining there was no way in hell anyone outside of the company would benefit from its findings — tossing any promised transparency out the window. (Read More…)

Former chairman of Volkswagen’s supervisory board Ferdinand Piech may soon be losing his seat on the Porsche SE board as well. While the Porsche and Piech families have combined their VW holdings in Porsche SE, its shareholders are voting on the future makeup of the company’s supervisory board at its annual meeting on May 30. However, a complete list of of candidates has to be decided upon by mid-April and Piech’s name seems to be absent from the early draft.

Wolfgang Porsche and Ferdinand’s brother Hans Michel Piech are both on the list of candidates, but Ferdinand Piech is not, according to the German weekly Bild am Sonntag, citing a person close to the matter. They hypothesized that the decision has more than just a little to do with Piech’s recent behavior regarding the VW emissions probe. (Read More…)

The Verge has an article today about the arduous process of hoops YouTube makes publishers jump through if a copyright infringement claim is made against a video. It’s an interesting look behind the scenes of video publishing and the tools YouTube makes available to copyright holders wanting to protect intellectual property. It also highlights the lack of human-based recourse publishers have when it comes to hollow copyright claims.

“Fair use” allows limited use of copyrighted material. This is how parodies and satires get around certain legal restraints. Fair use is also why we can use snippets of articles from other outlets, so long as we don’t use those articles in their entirety.

Even further, automakers make materials available for editorial use on their own press portals. This material is offered free of charge by automakers so we can pimp their products. But sometimes they make a mistake and post the wrong thing.

Volkswagen posted the wrong thing. And now our YouTube channel is crippled.

(Read More…)