Michael Steiner, the Porsche executive who was the subject of a raid by prosecutors on Wednesday, is being investigated for his handling of the Dieselgate scandal, Handelsblatt has learned. He is not suspected of a role in the actual manipulation of diesel engine software.
VW’s new CEO Herbert Diess should continue pushing for cultural change in the wake of Dieselgate, said Lower Saxony’s premier, Stephan Weil. The state owns a 20% stake in VW.
Francisco Garcia Sanz, VW’s longest-serving board member, will leave without a payout or consultancy deal. He was in charge of procurement but apparently didn’t want to work with Herbert Diess, the new CEO. (Bild)
Michael Steiner, Porsche’s chief of development, is reportedly being investigated by prosecutors seeking information about Dieselgate.
Opel plans to cut the workforce at its Eisenach plant from 1,800 to 1,000. Some 3,700 of Opel’s 19,000 employees in Germany could lose their jobs in a restructuring by French owner PSA. (Tagesspiegel)
BMW boss Harald Krüger will announce China as the production site for the carmaker’s all-electric X3 models at the Beijing Motor Show next week.
Porsche CEO Oliver Blume is not the company board member suspected of diesel emissions fraud. The names of three employees, including a board member, have been given to investigators. (Handelsblatt)
Car parts supplier Continental lowered sales targets for 2018 due to exchange rates and problems in its tire division. It expects a €150 million loss in earnings through June.