Tag: Blume, Oliver (1968- )

The German Auto Industry, a Pillar of the National Psyche, Is Trembling

Media Library

The centerpiece of Mercedes-Benz’s 140th birthday party in January was a patent application filed in 1886 by an engineer named Carl Benz for a “vehicle with gas engine.” The way Mercedes executives spoke of the handwritten document, which at one point was projected on a large wall on the company campus in Stuttgart, Germany, it might have been a sacred parchment. It not only certifies that Germany is the birthplace of the automobile but also helps explain why the woes of the country’s automakers — Volkswagen, Mercedes and BMW —…

Volkswagen Will Invest $193 Billion in Electric Cars and Software

Chin@Strategy

Volkswagen said on Tuesday that it would spend $193 billion on software, battery factories and other investments as it aimed to make every fifth vehicle it sold electric by 2025. The automaker, the world’s second biggest after Toyota, will also focus on expanding its presence in North America, where it has struggled for years, and becoming more competitive in China, one of its most important markets, said Oliver Blume, Volkswagen’s chief executive. Mr. Blume laid out a 10-point plan for helping Volkswagen pivot to electric vehicles, a path it began…