Tag: Stake
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VW Group Takes 5% Stake In XPeng, Reveals Extra On Audi-SAIC Deal
Volkswagen Group has taken a 5 p.c stake value $700 million in EV startup XPeng in a shock transfer that is a part of the German firm’s efforts to strengthen its place on the Chinese language automobile market. Along with the XPeng deal, Volkswagen Group has launched extra particulars on the cooperation deal between Audi…
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VW CEO Calls For Instant Freeze On Spending, Says “All Is At Stake”
Volkswagen model CEO Thomas Schafer mentioned throughout a latest inside assembly with the corporate’s managers that “the roof is on hearth,” suggesting that “all is at stake” for the German carmaker because it seeks to change into a number one producer of EVs whereas additionally supplying world markets with inside combustion engine autos, in keeping…
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Lordstown Founder And Ex-CEO Cashes Out Remaining Stake In EV Startup
Stephen Burns, the ex-CEO and founding father of Lordstown Motors, has offered all of his remaining inventory within the EV startup. As per a regulatory submitting, Burns offered his final shares between Might and June in three separate transactions. Burns has been regularly offloading Lordstown inventory since November 2021, making $66 million to this point.…