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Reviews VW on the stock market under pressure: "Spitz on Button" for Volkswagen boss

18:35  24 november  2021
18:35  24 november  2021 Source:   tagesspiegel.de

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For a long time, this was considered the favorite of the stock experts who set the transformation of the Wolfsburg AutoConzern. Now the share price shrank by 18 percent

Herbert Diess, Vorsitzender des Vorstands der Volkswagen AG © Photo: DPA / Carsten Koall Herbert this, chairman of the Board of Volkswagen AG

The outcome of the power struggle by Volkswagen -Kef Herbert This is apparently also open after several hours of advice in the Bureau of the Supervisory Board . The members of the Joint Management Circular Circulphous Circulphous Circuit be divided into the Tuesday evening after several hours of advice without a decision, a person informed the talks of the news agency Reuters.

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" The topic is so hot, it is pointed on button. I can not say anything ", said the insider. Another person explained: " the constructive calls last. " Meanwhile, VW remains under pressure on the stock market. " The capital market has the nose full of this back and forth " , commented an analyst that did not want to be named. As long as the quarrels stopped, nobody deals with the company.

This was long as a favorite of the stock experts who set the transformation of the Wolfsburg AutoConzern. On Tuesday, the preferred share listed in the Dax continued their downturn. In a barely changed overall market, the paper lost 1.6 percent.

overall, the share price shrank in the past six months by 18 percent , while large competitors such as Daimler and BMW gained significantly value. The shares of the Stuttgart Group increased by 19 percent, which of the Munich carmaker by eleven percent.

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also cut compared to international volume manufacturers The Wolfsburg's worse from : The titles of the Opel-Mother Stellantis and the US carmaker General Motors gained eleven percent. The papers of the US rival Ford even put 55 percent. Only the shares of the degraded French carmaker Renault lost one percent.

The papers of Tesla - the US Group measures VW with unchallenged ones and gained 83 percent. With over a trillion dollar, the US electric car construction was valued at the stock market last higher than the competitors.

This was started in April 2018 to drive the share price of the Wolfsburg Group through the turnaround into electromobility, the conversion to a software-based mobility provider and the entry into its own battery cell production. The goal of a stock market value of 200 billion euros is the Group with currently around 119 billion but further than a few months ago. In the middle of March, the preferred share had already recorded over 250 euros. On Tuesday it was still just under 175 euros.

This was several times in the quarrel with the Supervisory Board over the past one and a half years and had stood just before the release. He always squats with his executive style with his workers as provocatively. Partly aware of accelerating the transformation of the Group.

The ratio between it and the works council is considered difficult to damaged, since in September considerations of a possible reduction of up to 30,000 jobs were public. He also encourages criticism at the state of Lower Saxony as the second largest shareholder. On the other hand, the families were Porsche and Piech, who hold the majority of votes over the Porsche SE, most recently on the 63-year-old, whose contract was only extended in July.

Germany: Greenpeace filed a complaint against Volkswagen .
© AFP - Ronny Hartmann Greenpeace vehicles wants to impose a real electric turning point in Volkswagen, which the German manufacturer stops selling gasoline cars by 2030 , and this around the world. The Greenpeace Environmental Defense Organization filed a complaint against Volkswagen on Tuesday, November 9, 2021, while the Conference on the Environment, COP26 continues in Glasgow.

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