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Volkswagen might cut 40 models across brands to save cash

Volkswagen once set out to pass Toyota and General Motors and become the largest automaker in the world. Following months of fallout from the diesel emissions scandal, the manufacturer is rumored to be dropping around 40 models from its company-wide lineup. According to German business and finance publication Handelsblatt, the Volkswagen Group is looking to slim down and remove a number of low-volume vehicles from various lineups. The company currently sells around 340 models across brands that include Audi, Lamborghini, and Bentley. Volkswagen is refusing to comment, but Handelsblatt claims to have sources within the company. Last week, Volkswagen Group CEO Matthias Muller announced a new strategy for the company that includes a major focus on electric vehicles and new technology services. During his announcement, Muller said the company would be cutting a number of models, but at the time no numbers, models, or brands were discussed. Despite comments to the contrary, rumors have persisted since late last year that Volkswagen was looking to sell commercial truck and bus manufacturer MAN. Volkswagen owns truck and bus manufacturer Scania, so even if it dropped MAN, the company would still have a foothold within the bus and truck market. There is also talk of the company selling Italian motorcycle manufacturer Ducati, which Volkswagen acquired via Audi in 2012. The company's image has taken a huge hit in the wake of the diesel scandal. Volkswagen has set aside cash in order to pay fines and may be looking to sell these several subsidiaries and cut low-volume models in order offset the costs. Despite the scandal, the company led worldwide sales in the first quarter of 2016. The same was true in 2015, but sales tanked at the end of the year following the diesel revelations. Related Video: Rumormill Audi Bentley Volkswagen Ducati

Skoda plans big investment into electric cars as part of rebound effort

PRAGUE — Czech carmaker Skoda, part of the Volkswagen Group, said on Wednesday it would invest around 2.5 billion euros over the next five years on future technologies, with more than half going to electric vehicle investment. The Czech Republic's largest exporter is hoping for a rebound in 2021 from a global car sales drop but faces uncertainty over the coronavirus pandemic and a semiconductor shortage rattling the industry. "This year is likely to be another big challenge," finance director Klaus-Dieter Schuermann said. "We expect Skoda Auto's group performance to improve, with sales revenue significantly above the level of last year." Skoda reported on Wednesday a 54.5% drop in 2020 operating to 756 million euros ($894 million). Sales revenue dropped 13.8% to 17.1 billion euros. Global deliveries remained above 1 million cars for a seventh straight year despite a 19% drop after production outages at the outset of the pandemic and a fall in China, its biggest single market. Chief Executive Thomas Shaefer said the car company was managing the semiconductor shortage "but it will follow us for awhile" and the impact was not visible yet. Skoda's core market in Europe would be electric in the future, Shaefer said, although it was still not time to completely switch away from traditional models, which include the launch last year of a new generation of its flagship Octavia model. It has also started production of the all-electric Enyaq iV model, which is a version of Volkswagen's ID.4. Skoda plans investments of 1.4 billion euros into electromobility development as part of its five-year investment plan. Investments will also go into digitalization activities and plant modernization. Related video: Green Volkswagen Skoda Electric

Recharge Wrap-up: unofficial Tesla ad, VW will produce Budd-e

An unofficial Tesla commercial pays homage to the automaker's namesake. The video, which shows the Model S driving through a dusty, petroleum-addicted landscape reminiscent of a Mad Max film, features words from a speech by electricity-obsessed inventor Nikola Tesla. While Tesla (the man) talks about advancing technology into the future through electricity, the cars surroundings switch from the barren oil village to a green countryside dotted with wind turbines. See the video above, and read more at Treehugger. Famous rapper Akon is a Tesla fan who wants to power Africa with solar energy. Akon, who once boasted a collection of 28 exotic cars, traded them in for four Teslas, including a Model X. Also, his organization Akon Lighting Africa provides free solar electricity and lighting to communities that need it. Clean Technica talked to Akon about solar power, Tesla and EVs in a video. See the video and read more at Clean Technica, and get more perspective from Teslarati. The Volkswagen BUDD-e EV may be moving to production. The electric vehicle, built on the MEB modular platform with looks borrowed from the Microbus, made its debut as a concept vehicle at CES this year. Volkwagen's Dr. Volkmar Tanneberger tells Car magazine, "You will see a car that looks a lot like this, on the MEB platform, reach production. I can't say exactly when, but 2020 or thereabouts." He also says that the California camper van and Transporter van will continue production with internal combustion engines. Read more from Car. The 2017 Kia Soul EV will have more range. While it is scheduled for some minor updates, upping the electric Soul's driving range from its current EPA rating of 93 miles will hopefully attract more customers than a simple facelift. Autocar spied the next Soul EV testing in some heavy camouflage, but it offered no other details about the range beyond its reported expansion. Read more from Plugin Cars.