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Andreas Cremer Business industry Irene Preisinger Tech Top News 

Continental, Osram plan vehicle lighting joint venture: Wirtschaftswoche

July 12, 2017 BERLIN (Reuters) – Germany’s Continental and Osram are planning to set up a joint venture to develop lighting products for the automotive industry, German business weekly Wirtschaftswoche said on Wednesday, citing unnamed sources. Osram wants to submit parts of its automotive lighting business to the joint venture while Continental will bring in electronic control systems, the weekly magazine said in an advance release to be published in its Friday edition. The joint venture will start early next year, employ about 1,500 workers and have both companies submit…

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Architect of modern VW cuts ties with share sale

April 3, 2017 By Andreas Cremer BERLIN (Reuters) – Former Volkswagen Chairman Ferdinand Piech has agreed to sell a major part of his stake in the firm that controls Europe’s biggest carmaker, reducing his links with Volkswagen after more than two decades of undisputed rule. Volkswagen’s (VW) ruling Porsche and Piech families have agreed to buy a large part of the 14.7 percent stake Piech holds in Porsche Automobil Holding SE , which in turn owns 52.2 percent of voting shares in VW, exercising their right of first refusal on…

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Volkswagen CEO says not open to merger talks with Fiat Chrysler

March 8, 2017 GENEVA, Switzerland (Reuters) – German carmaker Volkswagen is not open to merger talks with Italian rival Fiat Chrysler , Chief Executive Matthias Mueller said on Wednesday, rebuffing an overture from FCA CEO Sergio Marchionne. “We are not ready for talks about anything,” he told Reuters on the fringes of the Geneva auto show. “I haven’t seen Marchionne for months.” “We have other problems,” Mueller added. Marchionne said on Tuesday at the show Volkswagen could be an attractive prospective partner and may be interested in talks. He has…

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