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Mercedes, Porsche, BMW stocks defy market downturn despite disruptions

Teslarati

The stocks of German luxury automakers, including Mercedes, Porsche, and BMW, have remained strong in recent months despite numerous disruptions. But simultaneously, luxury German automakers have mysteriously not seen the same rapid declines in stock prices, some (Porsche) even increasing in value over the same timeframe.

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Volkswagen is financially ready for electrification, says CFO

Teslarati

From the auto group’s Porsche IPO today and Volkswagen’s relatively high operating profit margin, continued investment into electrifying their offerings will be possible. billion from their Porsche IPO today, while the brand’s operating profit margin of 7-8.5% will aid in funding electrification.

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Volkswagen faces mounting pressure from Tesla and BYD

Teslarati

During the pandemic, Volkswagen fell behind in the Chinese auto market as companies like BYD, Nio, and Tesla took over, with the competition nearly doubling the market’s EV and hybrid offerings (via Bloomberg ). Volkswagen had just around 145,000 sales. billion in settlement money to vehicle owners.

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Auto Alliance pushing for passage of Maryland SB 1234 that would require state purchase of ZEVs; 50% of LDVs by 2026

Green Car Congress

The goal of the mandate is to improve the environment by spurring the sale of vehicles with alternative powertrains thus reducing carbon emissions. The bill would take effect 1 July 2018. Maryland is one of nine states that has adopted California’s ZEV Mandate.

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Big DEED turnout in Dayton 

Electric Auto Association

General Manager Jeffrey Pizza and EV Specialist Zach Johnson of White Allen Euro Group presented a Porsche Taycan and Audi e-tron that were very well-received. Jeffrey Pizza of White Allen Euro Group with Porsch Taycan. Jeffrey Pizza of White Allen Euro Group with Porsch Taycan.

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Volkswagen looking for partners in India to expand operations

Baua Electric

(HT Auto/Sabyasachi Dasgupta) German auto giant Volkswagen is looking to tie up with local car manufacturers in India to expand its operations in the country. The company admitted that making money in the Indian auto industry is tough. For Volkswagen, India is one of the smallest markets for the German group.

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Pininfarina grows its U.S. footprint in early bid for EV hypercar market control

Teslarati

Pininfarina’s newest dealership is Salt Lake City Motorcars in Utah, the company’s 11th dealer in the U.S., But if you want one of Pininfarina’s exclusive electric hypercars, you might already be too late, as the company will only be making 150. following the establishment of a brand new network of dealers that began in 2021.