BMW (BMWG.DE) management and labor have reached an agreement on measures to reduce costs that avoids “drastic measures”, the German carmaker said on Wednesday.
"The group plans to spend nearly 60 billion euros ($66 billion) on the future areas of hybridization, electric mobility and digitalization in the next five years," said the group in a statement.
Volkswagen (VOWG_p.DE) rolled the last Beetle off the assembly line on Wednesday.
Volkswagen’s (VOWG_p.DE) cleanup of a diesel cheating scandal will cost it 5.5 billion euros ($6.25 bln) in 2018.
Volkswagen's chief executive said on Tuesday after a meeting at the White House that the German automaker was building an alliance with Ford Motor Co.
The German and U.S. automakers are expected to provide an update on the progress of the talks before year end, said the person, who asked not to be identified.
soaring profits for a third quarter free of massive payouts for diesel emissions cheating but the results were still weighed down by new pollution tests.
The carmaker’s adjusted operating profit came to €3.51 billion ($4 billion) in the three months through September.
Ahead of the deadline, many boosted financial incentives and registrations of their own new vehicles to be sold on the used car market, analysts have said.
BMW management board member Klaus Froehlich said automakers and large suppliers are beginning to discuss how to agree on one standard for autonomous-vehicle systems.
The Braunschweig prosecutor’s office was not reachable for comment on Saturday.
Top German industry group welcomed solutions proposed by U.S. President Donald Trump and European Commission President Jean-Claude Juncker to avert a trade war.
VW shares were down 2.6 percent in early trading.
Shareholder adviser Hermes EOS said it had recommended clients vote against the election of two candidates to the supervisory board of carmaker Volkswagen.
Group earnings before interest and taxes declined 3.6 percent to 4.21 billion euros ($5.13 billion).
The two companies conducted meetings with the federation’s board last month to assess the local economy to pump investments in Egypt.
Investors bought $8.3 billion in dollar-denominated bonds Volkswagen Group of America Finance LLC sold in 2014 and 2015.
Carmaker Volkswagen (VOWG_p.DE) and labor union IG Metall reached a wage agreement for more than 120,000 workers in Germany.
The U.S. Justice Department is seeking “substantial” civil fines from Fiat Chrysler Automobiles NV.
Volkswagen's supervisory board called for an immediate inquiry into who commissioned tests in which monkeys were exposed to toxic diesel fumes.