A German court has ruled that Volkswagen must buy back cars from owners of its diesel cars equipped with software that evaded emissions testing — but consumers must accept the current value of the car based on the mileage they drove since buying it, not the purchase price. Volkswagen said the decision announced Monday would clear the way for settlement of remaining consumer claims in Germany. The decision affects some 60,000 individual claims brought by car owners there; around 262,000 others
Audi Formula E driver Daniel Abt was disqualified and ordered to pay 10,000 euros ($10,900.00) to charity on Sunday for getting a professional gamer to compete under his name in an official esports race. Formula E's real life series leader Antonio Felix da Costa appeared less concerned, however.
Volkswagen said charges of securities-law violations against its CEO and board chairman are to be dropped in return for a 9 million-euro ($10 million) payment, removing a potential distraction for the company's management team as it copes with the virus crisis and oversees the rollout of a new generation of electric cars. CEO Herbert Diess and Chairman Hans Dieter Poetsch were charged in September with failing to tell investors in time about the company's looming diesel scandal in 2015. Prosec
The world cut its daily carbon dioxide emissions by 17% at the peak of the pandemic shutdown last month, a new study found. In their study of carbon dioxide emissions during the coronavirus pandemic, an international team of scientists calculated that pollution levels are heading back up — and for the year will end up between 4% and 7% lower than 2019 levels. For a week in April, the United States cut its carbon dioxide levels by about one-third.
A Delaware judge has denied a request by attorneys for Tesla shareholders to pursue a lawsuit seeking to prevent CEO Elon Musk from using his personal Twitter account to disseminate information regarding the electric vehicle and solar panel manufacturer. Vice Chancellor Joseph Slights III ruled Tuesday that shareholder attorneys had not demonstrated a sufficient reason for him to allow the state court lawsuit to proceed. The SEC sought to hold Musk in contempt of court after he tweeted in Febr
Oil companies may be facing uncertainty as the coronavirus pandemic triggers a collapse in demand for their products, but auto makers are betting the crisis will help accelerate an electric future. With economies reeling from lockdowns to curb the virus, the sharpest plunge in oil prices in two decades has slashed the cost of filling up a tank of gas, eroding some of the incentive to make the switch to cleaner fuels. Looking ahead, cuts in capital spending forced upon energy companies as their
Uber will cut about 3,000 jobs, in addition to the 3,700 it had announced earlier this month, Khosrowshahi said, adding that the company plans to reduce investments in several "non-core projects." Khosrowshahi did not directly mention these businesses in his email and a spokesman declined to comment beyond the email. Khosrowshahi said Uber must establish itself as a self-sustaining enterprise no longer in need of outside capital, calling the company's food delivery business Uber Eats the "next