shares in this article
The newly founded European company is headed by former Continental and Daimler manager Frank Blome, the Wolfsburg DAX group announced. His goal is to expand the battery business and make Volkswagen a global producer of cells. Blome, who has been with VW for four years, will start operating the battery company on July 1.
The six-person board of directors also includes Sebastian Wolf, who as Chief Operations Officer will be responsible for planning, construction and operation of the planned cell factories in Europe. Kai Alexander Müller, who has worked at Bank of America and Barclays and oversaw several IPOs, has been appointed chief financial officer.
VW also announced that it will “in the short term” expand the battery team in Salzgitter from 750 to 1,200 employees. The company brings together all activities in the battery value chain. VW is considering going public for business.
Volkswagen begins series production of electric cars in Emden
After a two-year conversion phase, series production of the first electric model will begin at 12:00 at the Volkswagen plant in Emden on Friday. With the production of the electric compact SUV ID.4, the car manufacturer in the port city is taking the first step in the transition to electromobility. After the VW plant in Zwickau, Saxony, the East Frisian plant is the second place in Germany where the model is produced.
According to Volkswagen, it is investing one billion euros to transform the Emden into a factory solely for the production of electric cars by 2024. In addition to the ID.4, the Aero, as the electric successor to the Passat, is due to roll off the assembly line in East Frisia from 2023. For this purpose, the factory is rebuilt in the course of its current operations, incl. a new assembly hall and battery warehouse were built.
Bauer wants to force VW to increase climate protection in civil proceedings
On Friday (11.30) the district court in Dethmold will hear the farmer’s lawsuit against the VW car manufacturer in connection with climate protection. An organic farmer from Detmold in North Rhine-Westphalia, with the support of the environmental organization Greenpeace, wants to take legal action that the car company refrain from “excessive” emissions of carbon dioxide, a greenhouse gas. VW considers the suit to be unfounded. Most likely, the court will not issue a ruling after the hearing in the civil case on Friday.
VW should have, among others the obligation to equip with internal combustion engines a maximum of a quarter of passenger cars and vans sold in the entire group in the period from 2021 to 2029 inclusive. From 2030, VW should no longer be able to sell vehicles with internal combustion engines. According to the court, the farmer justified the lawsuit with the fact that the car company influenced him through the climatic consequences of his economic activity in key legal interests, such as property, health and the right to “freedom related to greenhouse gases”. .
According to Greenpeace, plaintiff Ulf Allhoff-Cramer (61) argues that VW, as the world’s second largest car manufacturer, is jointly responsible for significant damage to its farm and associated forest. VW is also exacerbating the climate crisis by selling millions of cars that are destroying the climate and thus causing future losses. “As farmers, we have to admit that the climate crisis is here and it is worse than we thought,” said the farmer. The “climate lawsuit” is an important lever to “keep our world a place for people to live.” His lawyer Roda Verheyen explained: “The company needs to cut greenhouse gas emissions much faster than it does plan. Otherwise, it harms others and thus behaves illegally. ‘
VW opposes this. A comprehensive decarbonisation program has been decided with the goal of achieving CO2 neutrality on the global balance sheet by 2050, Sustainability Chief Ralf Pfitzner said. VW emphasizes to journalists that VW is doing its part to decarbonise the transport sector. “The engaged argument about the speed of transformation is right. In our opinion, however, a lawsuit is not an appropriate measure. It only distracts you from working constructively on an enormous challenge. “
Lawyer Wolf Friedrich Spieth on behalf of VW said: “Disputes before civil courts through lawsuits against individual companies selected for this purpose are not the place or the means to do justice to the complex challenges of climate protection for society as a whole.” Neither civil law nor constitutional law entitled individuals to oblige another private person to arbitrarily calculated emission budgets. Since every person is an emitter of CO2, they could otherwise become the addressee of such a lawsuit.
Greenpeace supports a similar lawsuit against VW in the district court of Braunschweig. However, no oral hearing was held there.
VW shares rose 1.05 percent to EUR 146.84 in XETRA on Friday.
EMDEN / DETMOLD (dpa-AFX) / FRANKFURT (Dow Jones)
The leverage must be between 2 and 20
More information about the Volkswagen (VW) AG Vz.
Image Sources: Bocman1973 / Shutterstock.com, pokchu / Shutterstock.com