The Latest Breaking News from Handelsblatt

Update: Mercedes has replied to our inquiry. Here's what Markus Nast, Manager Global Communication Compact Cars, Midsize Cars, G-Class, told us:

Rheinmetall's Armin Papperger expects his company to account for a quarter of Europe's $1.1 trillion defense splurge.

Right before Christmas, Volkswagen reached an agreement with German unions to reduce its workforce by over 35,000 people by 2030 through a "socially responsible reduction" program. This drastic decision is part of a broader plan to cut costs in the company's domestic market. Labor costs alone will be slashed by…

The two Volkswagen Group brands have never built cars in the U.S., but a combination of lower taxes and higher tariffs might change their mind.

Update: Added a statement from an Audi spokesperson.

Investors have become complacent about risk, Summers says, succumbing to the kind of exuberance that preceded the 2008 crash or the dotcom collapse.

Soaring costs, declining vehicle sales and problems in China are raising pressure on Oliver Blume to cede one of his two CEO jobs.

The updated Tesla Model Y is reportedly going into production today at the company’s European factory in Germany. According to the German newspaper Handelsblatt, employees at Tesla’s Gigafactory Berlin facility were informed of the product launch yesterday, with assembly set to begin today, January 14.

Workers' representatives will update VW staff at all 10 German plants about management's latest savings proposals at 1000 GMT, with many bracing for news of thousands of job cuts.