- Rivian spinoff Mind Robotics raises another $400M
May 13, 2026
RJ Scaringe, CEO at Rivian, on the TechCrunch Disrupt stage in San Francisco on October 19, 2022. Image Credit: Haje Kamps / TechCrunch
Rivian’s spinoff company Mind Robotics has raised another $400 million, just two months after raising $500 million, as it works to develop industrial robotics that can further automate factory operations.
The funding round, first reported by the Wall Street Journal, was led by Kleiner Perkins. The venture arms of Volkswagen, which is partnered with Rivian on a software joint venture, and Salesforce also contributed investments.
Rivian CEO RJ Scaringe, who is chairman of Mind Robotics, told TechCrunch in March that he created the company because he felt other startups were not fully-equipped to automate industrial work. He started the project — initially known as “Project Synapse” — as an effort to build “robotics with human-like skills.”
Mind Robotics had previously raised $115 million from Eclipse after it was created in 2025. The new funding round brings the total raised to more than $1 billion, and values Mind Robotics at more than $3 billion, according to the Wall Street Journal.
Scaringe also helped create and spin out a micromobility company called Also, which has raised more than $300 million to date.
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- QuantumScape (QS) Stock Is Trending Overnight: What's Going On?
May 13, 2026
QuantumScape Corp.(NASDAQ:QS) shares are trending on Tuesday night.
QuantumScape shares rose 6.77% to $8.99 in after-hours trading on Tuesday. The surge in the extended trading session follows a regular-session jump of 4.86%, with the stock closing at $8.42, according to Benzinga Pro data.
Eagle Line Powers The Rally
The after-hours gain follows QuantumScape’s recent completion of its Eagle Line pilot-scale production facility and $11 million in Q1 2026 customer billings. The facility uses the company's Cobra process, a proprietary manufacturing method designed to scale production of its solid-state separator and serve as the foundation for future commercial expansion.
What Investors Need To Know
On Tuesday, a Securities and Exchange Commission filing revealed that director Jeffrey B. Straubel plans to sell 27,106 Class A shares. According to the SEC filing, the shares carry an aggregate market value of $228,232.52 and will be sold through Goldman Sachs & Co. LLC.
The sale is part of a Rule 10b5-1(c) plan adopted on June 13, 2025, a prearranged trading program designed to protect insiders from allegations of trading on material nonpublic information.
SEC filings show Straubel executed three prior tranches under the same plan between February and April, each consisting of 27,106 shares.
QuantumScape is a pure-play solid-state lithium-metal battery developer backed byVolkswagen (OTC:VWAGY) and other strategic investors.
The California-based company has 578.3 million Class A shares outstanding.
Trading Metrics, Technical Analysis
QuantumScape has a market capitalization of $5.18 billion, with a 52-week high of $19.07 and a low of $3.80.
The mid-cap stock has a Relative Strength Index (RSI) of 66.91.
Over the past 12 months, QS has gained 96.73%.
Currently, the stock is positioned at about 30% of its 52-week range, meaning the current price is closer to its annual low than its high.
Benzinga’s Edge Stock Rankings indicate that QS is experiencing short-term upward movement along with medium and long-term consolidation.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Also: Oklo, Nextpower, Dreamland, SanDisk And Tesla: Why These 5 Stocks Are On Investors' Radars Today
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This article QuantumScape (QS) Stock Is Trending Overnight: What's Going On? originally appeared on Benzinga.com
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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- French court convicts VW for 'consumer harm' in 'Dieselgate' scandal
May 12, 2026
Volkswagen admitted in 2015 it had sold 11 million vehicles equipped with devices designed to cheat environmental regulations by lowering cars' emissions during testing (John MACDOUGALL)·John MACDOUGALL/AFP/AFP
A French court has ordered Volkswagen to pay 100,000 euros ($117,000) on charges of "consumer harm" over the Dieselgate emissions fraud, an advocacy group said Tuesday, as around 950,000 clients in France await a class-action ruling on compensation.
The German automaker admitted in 2015 it had sold 11 million vehicles equipped with devices designed to cheat environmental regulations by lowering cars' emissions during testing.
Among the dozens of lawsuits spurred by the scandal, France's CLCV consumer protection association joined a claim filed by a car owner in Pau, southwest France, alleging "harm to the general interests of consumers".
In a May 5 ruling seen by AFP, the court said VW "failed in its obligation of conformity" by selling nearly 950,000 vehicles equipped with the devices in France between 2007 and 2015.
"It's an encouraging step for the class action" lawsuit to be heard next year by a court in Soissons, eastern France, said Francois Carlier, director of the CLCV.
VW also faces a separate aggravated fraud case over the scandal in Paris, with a date for the trial to be set in December.
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- Mender by Northern.tech Extends Industry-Leading OTA Update Management to Microcontrollers (MCUs)
May 12, 2026
Unified fleet management across Linux and microcontroller devices is now available with Mender, the enterprise-grade OTA update infrastructure
PALO ALTO, Calif., May 12, 2026 /PRNewswire/ -- Northern.tech, the leader in device lifecycle management and the company behind Mender, announces today the new release of Mender, including support for microcontrollers (MCUs). Following customer demand, the new Mender MCU client extends the same enterprise-grade OTA update infrastructure, trusted by companies like Airbus, Siemens, Volkswagen, and ZF Group, to microcontrollers. As one of the most popular operating systems on microcontrollers, support for the Zephyr real-time operating system (RTOS) is now available, including a reference device for a quick, easy start with Mender on microcontrollers.
With connected IoT devices projected to reach 39 billion by 2030, microcontrollers are foundational to the next generation of IoT products. From industrial sensors and agricultural equipment to robotics and smart infrastructure, MCUs power critical systems worldwide. Developers of connected drivetrains, machines, and infrastructure, Dot Robot utilizes Mender for its microcontrollers in production. "Previously, we relied on our hardware-centric approach with a return-to-base policy; as a result, more resources were spent on service and less on cutting-edge features," states Willem Zwetsloot, Managing Director at DotRobot. "With Mender, we can stay at the forefront of edge computing, introducing features on a weekly basis. Mender gives us the control and confidence to securely manage updates across the entire fleet at scale."
As smart, IoT products continue to evolve, managing software updates across heterogeneous product fleets remains a persistent challenge. Today, OEMs are often dependent on siloed or manual processes with no fleet-wide visibility, protection, or management. The new release of Mender enables organizations with multi-device fleets to manage Linux and microcontroller devices from a single platform. "Every connected device deserves the same standard of secure, reliable OTA update infrastructure," comments Eystein Stenberg, CTO of Northern.tech. "IoT products are becoming more complex. Relying on one solution to deliver and manage software across product lines not only offers higher control, but also gains in security, efficiency, and time."
As regulations like the EU Cyber Resilience Act (CRA) introduce mandatory requirements for secure, automated software updates across the full device lifecycle, organizations must reliably update their fleet — microcontroller, or otherwise — to minimize operational risk and demonstrate compliance. Mender for microcontrollers addresses the challenge while also offering a new level of visibility and management for heterogeneous fleets worldwide.
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Mender for microcontrollers is available now. To learn more, visit mender.io.
About Mender
Mender offers robust, secure, and customizable over-the-air (OTA) software updates for smart devices. Powering OTA software updates for more than a million devices worldwide over a decade, Mender boasts a proven track record with Fortune 1000 clients, including Airbus, Lyft, Volkswagen, Siemens, Thales, and ZF Group.
Learn more about OTA software update management.
Mender is developed and maintained by Northern.tech. Founded in 2008, Northern.tech is the leader in device lifecycle management with a mission to secure the world's connected devices.
Media Contact:
Larisa Bogomolov
414317@email4pr.com
617-797-9956Cision
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- Independent TÜV-Nord Testing Demonstrates PureForge Brakes Generate Less than Half of Euro 7 Non Exhaust Emission Limit
May 12, 2026
Results show automakers can achieve Euro 7 brake emissions compliance using the same OEM rotors
TROY, Mich., May 12, 2026 /PRNewswire/ -- PureForge®, the technology-driven manufacturer of ultra-durable brake systems, today announced that its Atomic-Forged® brakes have been independently tested at 3.3 mg/km of brake particulate emissions under the WLTP UN GTR-24 test, which will underpin the upcoming Euro 7 non-exhaust emissions standards. The new regulations come into force on November 29, 2026. They target brake dust, now the dominant source of vehicle particulate matter, with brake emissions exceeding exhaust by more than four times on some vehicles.PureForge Atomic-Forged® brakes generate less than half of Euro 7 non exhaust emission limit
Testing conducted by TÜV-Nord Germany, one of Europe's leading technical validation organizations, on a VW Golf/Jetta brake system equipped with standard OEM rotors that went through the PureForge Atomic-Forged® process, recorded emissions 53% below the forthcoming Euro 7 limit of 7 mg/km and approximately 80% below conventional cast-iron rotors using standard OEM pads. As European automakers race to meet Euro 7 timelines, PureForge offers OEMs and suppliers a path to compliance that requires no changes to core brake architecture, no new rotor qualification programs, and no platform redesign.
"Euro 7 is forcing the industry to rethink brake design, where many traditional brake systems likely fail Euro 7 limits," said Sarah Olson, VP Engineering & Partnerships, at PureForge. "However, compliance should not require OEMs to accept unnecessary complexity. Our TÜV-Nord results show that Atomic-Forged® brakes provide an elegant and scalable path to Euro 7 compliance that preserves performance, durability, and manufacturability."
Solving Euro 7 Challenges Without Introducing New Tradeoffs
PureForge's Atomic-Forged® technology transforms the rotor surface itself at the micron level without adding a separate coating. This surface transformation approach, which involves molecularly integrated materials by building a lattice structure, is protected by 47 issued patents. By working with the base material rather than on top of it, Atomic-Forging preserves rotor integrity while delivering ultra-low wear and emissions performance.
This approach is fundamentally different from other approaches targeting the reduction of brake wear emissions, which typically add a thick metallic coating layer to the rotor surface. That approach can introduce additional material interfaces, thermal stresses, machining steps, and long-term durability considerations.
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Key advantages of Atomic-Forged® include
A quiet, stable surface tribology No separate coating interface to manage No structural transformation of the rotor No post-machining required Minimal thermal disruption
Proven in Demanding Real-World Fleets
PureForge is already deployed across more than 1,000 active fleet vehicles with over 8 million kilometers of field evaluation, including police, municipal, delivery, and other high-performance environments where braking systems face repeated stops and elevated thermal loads. Internal and third-party testing has shown PureForge can deliver up to 10x rotor life and 3x pad life, helping reduce the wear that drives brake particulate emissions.
"The real-world proof is there," added Olson. "In the most demanding fleet environments, Atomic-Forged® has consistently demonstrated its ability to reduce wear. "The TÜV-Nord results confirm that this reduced wear translates directly to reduced brake particulate emissions."
Detailed TÜV-Nord Germany Test Results Shared at EuroBrake 2026
Sarah Olson will present PureForge's findings to leading automotive executives and engineers at EuroBrake 2026 in Mainz, Germany, on June 2 at 1:20 p.m. CET in a Session entitled: Atomic-Forged Brake Rotor Surface Engineering for Reduction of Non-Exhaust Emissions.
About PureForge
PureForge Atomic-Forged® rotors revolutionize what's possible in braking performance and environmental integrity. For the first time, fleets can achieve longer life, lower emissions, and consistent braking without compromise. Vehicles see up to 10x rotor life with significantly less brake dust and reduced maintenance. PureForge's novel design transforms the rotor at the friction interface, stabilizing friction and reducing wear at the source. In independent testing, emissions measured at less than half the Euro 7 limit. Protected by 47 issued patents and backed by a 3-year, 160,000-kilometer warranty. Learn more at https://pureforge.com/Cision
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- Vans - Global Market Report 2026-2031 Featuring Strategic Profiles of Ford, Mercedes-Benz, Volkswagen, Renault, Toyota and More
May 11, 2026
Company Logo
The global van market offers growth opportunities driven by the surge in e-commerce and last-mile delivery, emphasizing adaptable, connected, and eco-friendly vans
Van MarketVan Market·GlobeNewswire Inc.
Dublin, May 11, 2026 (GLOBE NEWSWIRE) -- The "Van Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031F" has been added to ResearchAndMarkets.com's offering.
The Global Van Market is projected to grow from USD 170.32 Billion in 2025 to USD 218.13 Billion by 2031 at a 4.21% CAGR. This industry largely centers around the manufacturing, distribution, and application of light commercial vehicles designed with closed cargo compartments for hauling freight and, occasionally, passengers. The swift rise of online shopping and the resulting need for effective last-mile and city delivery methods, along with greater funding for modernizing logistics, are major catalysts for this growth.
Additionally, the escalating demand for adaptable vehicle connectivity and cutting-edge safety features further propels the industry forward. Data from the European Automobile Manufacturers' Association (ACEA) highlights this upward trajectory, showing that new van registrations within the European Union rose by 8.3% in 2024 to reach 1,586,688 units. Despite these positive trends, a major hurdle to sustained market growth is the heavy upfront capital and investment required to purchase vehicles.
These high acquisition expenses present a particular challenge for smaller fleet management businesses attempting to enter or expand within the market.
Market Driver
A major catalyst for the worldwide van market is the surge in e-commerce and last-mile delivery operations, with companies increasingly depending on streamlined city logistics to process internet purchases. The massive spike in digital retail requires broader fleets of adaptable vans that can maneuver through varied settings, ranging from busy metropolitan hubs to quiet suburban streets. Such commercial vehicles are essential for delivering merchandise to customers' homes promptly and affordably.
Highlighting the sheer volume of digital commerce fueling the need for delivery fleets, a 2024 International Trade Administration (ITA) report noted that global B2B e-commerce gross merchandise value hit USD 28.08 trillion that year. Consequently, this movement is driving advancements in vehicle architecture and integrated technology to improve package management and route efficiency.
The market is also heavily influenced by the rising shift toward electric and eco-friendly vans, motivated by stricter environmental laws, corporate green initiatives, and savings on fuel and upkeep. Automakers are broadening their electric portfolios to satisfy this changing need, resulting in enhanced vehicle performance and availability. Demonstrating this transition toward more sustainable fleets, Mercedes-Benz reported in April 2026 that its eVan sales surged by 29% during the first quarter of 2026 relative to the same period the prior year. More broadly, the light commercial vehicle sector shows enduring strength, as evidenced by Ford's January 2026 announcement that the Transit remained the top-selling van in America, achieving a record 161,797 units sold in 2025 for a 5.9% growth.
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Market Challenge
High upfront investments and steep capital requirements stand as major obstacles to the growth of the worldwide van industry. These costly purchasing prices create formidable barriers for companies, especially emerging startups and smaller fleet managers that typically function with limited financial flexibility. The necessity of spending large sums initially to acquire modern vehicles - such as those equipped with state-of-the-art safety mechanisms or alternative fuel powertrains - severely limits their ability to upgrade or grow their existing operations.
Consequently, this economic strain frequently leads to postponed vehicle upgrades, forcing companies to extend the service life of aging, less effective vans, which slows down the industry-wide transition to modern, efficient technologies. Illustrating the impact of these financial hurdles, the Society of Motor Manufacturers and Traders (SMMT) reported that new light commercial vehicle registrations in the United Kingdom dropped by 10.3% in 2025 to 315,422 units. This reduction underscored a tough economic climate that effectively stifled investments in commercial fleets.
Market Trends
A key development transforming the worldwide van industry is the growing incorporation of Advanced Driver-Assistance Systems (ADAS), which have transitioned from premium add-ons to essential operational and safety components. This evolution is largely motivated by stricter safety mandates and a heightened commitment to minimizing collisions and protecting driver health. Commercial vehicles featuring ADAS deliver clear advantages by utilizing tools like adaptive cruise control, lane-keeping support, and automatic emergency braking to boost efficiency and lower driving risks. Highlighting the sector's dedication to integrated safety, the 2026 Mercedes-Benz eSprinter includes Attention Assist, Blind Spot Assist, and Active Brake Assist as standard features.
At the same time, the broader implementation of connected fleet management technologies is drastically changing the maintenance, operation, and optimization of commercial vans. By utilizing real-time data analytics and telematics, these systems provide fleet operators with unprecedented insights into logistical patterns, driver habits, and vehicle health. These advancements enable preventative maintenance, better route planning, and maximized asset use, which collectively drive down costs and elevate service quality. The rapid uptake of this technology is highlighted by Ford Pro's March 2025 report, which noted a 40% surge in connected commercial vehicles over a two-year span, reaching a global total of 5.2 million units.
Key Players Profiled in the Van Industry:
Ford Motor Company Mercedes-Benz Group AG Volkswagen Group Renault Group TOYOTA MOTOR CORPORATION Nissan Motor Co., Ltd. Hyundai Motor Company MITSUBISHI MOTORS CORPORATION ISUZU MOTORS LIMITED Stellantis NV
Report Scope
In this report, the Global Van Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Van Market, By Tonnage Capacity:
Up to 2 Tons 2 Tons - 3 Tons 3 Tons - 5.5 Tons
Van Market, By Propulsion Type:
ICE Electric
Van Market, By End Use:
Commercial Personal
Van Market, By Region:
North America Europe Asia Pacific South America Middle East & Africa
Key Attributes
Report Attribute Details No. of Pages 182 Forecast Period 2025-2031 Estimated Market Value (USD) in 2025 $170.32 Billion Forecasted Market Value (USD) by 2031 $218.13 Billion Compound Annual Growth Rate 4.2% Regions Covered Global
For more information about this report visit https://www.researchandmarkets.com/r/2dx3va
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
Van Market
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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- Is Volkswagen (XTRA:VOW3) Now A Potential Opportunity After Recent Share Price Weakness
May 10, 2026
Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE.
This article examines whether Volkswagen stock is starting to look like a value opportunity or a value trap, and explores what the current price might be implying about the company. The stock last closed at €88.00, with a 2.1% gain over the past 7 days. However, declines of 2.9% over 30 days, 17.3% year to date and 6.0% over the past year hint at mixed sentiment around its outlook and risk. Recent coverage has focused on how traditional automakers such as Volkswagen are positioning themselves in areas including electrification and software. These developments can influence how investors think about future cash flows and capital needs. In addition, broader sector headlines about competition, regulation and changing consumer preferences can affect how the stock is being priced today. Volkswagen currently has a valuation score of 6 out of 6. The next sections will walk through common valuation methods before turning to a different way of thinking about what that score might really mean for you.
Find out why Volkswagen's -6.0% return over the last year is lagging behind its peers.
Approach 1: Volkswagen Discounted Cash Flow (DCF) Analysis
A Discounted Cash Flow model projects a company’s future cash flows and then discounts them back to today using a required rate of return, giving an estimate of what the entire business might be worth per share.
For Volkswagen, the model used is a 2 Stage Free Cash Flow to Equity approach that works off recent free cash flow and then applies projections. The latest twelve months free cash flow is a loss of about €8.4b, so the model relies heavily on expectations for improvement over time. Analyst inputs are used for the next few years, and Simply Wall St then extrapolates out to 10 years.
Within those projections, free cash flow is expected to reach about €23.9b in 2035, with a series of annual figures in between that are discounted back to today. When all projected cash flows are combined and divided by the number of shares, the model arrives at an estimated intrinsic value of around €382.53 per share.
Compared with the recent share price of €88.00, this DCF output suggests Volkswagen stock is around 77.0% undervalued based on these assumptions.
Result: UNDERVALUED
Our Discounted Cash Flow (DCF) analysis suggests Volkswagen is undervalued by 77.0%. Track this in your watchlist or portfolio, or discover 231 more high quality undervalued stocks.VOW3 Discounted Cash Flow as at May 2026
Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Volkswagen.
Story Continues
Approach 2: Volkswagen Price vs Earnings
P/E is often a useful yardstick for profitable companies because it links what you pay for the stock directly to the earnings the company is already generating. It is a quick way to see how much the market is willing to pay for each €1 of profit.
In general, higher growth expectations and lower perceived risk can support a higher P/E, while slower expected growth or higher risk tend to line up with a lower P/E. So the “right” P/E is rarely a single number; it depends on what investors think about earnings durability and volatility.
Volkswagen currently trades on a P/E of 7.19x. That sits below the Auto industry average of 18.89x and also below the broader peer average of 36.25x. Simply Wall St’s Fair Ratio framework estimates what a more tailored P/E could look like, using factors such as earnings growth, profit margins, industry, market cap and risk profile, rather than relying only on broad peer groups.
For Volkswagen, the Fair Ratio is 15.21x, which is higher than the current 7.19x multiple. On this basis, the stock screens as undervalued using the preferred P/E approach.
Result: UNDERVALUEDXTRA:VOW3 P/E Ratio as at May 2026
P/E ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 99 top founder-led companies.
Upgrade Your Decision Making: Choose your Volkswagen Narrative
Earlier the article mentioned that there is an even better way to understand valuation. Narratives on Simply Wall St give you a clear story behind the numbers by linking your view of Volkswagen’s future revenue, earnings and margins to a forecast and a Fair Value. They then compare that Fair Value with today’s price, update automatically as news or earnings arrive, and let you see side by side how one user might frame Volkswagen as a cost cutting turnaround with a Fair Value near €295.23 while another focuses on execution risks with a Fair Value near €68.40. This helps you quickly decide which story lines up with your own expectations before making buy or sell decisions.
For Volkswagen however we will make it really easy for you with previews of two leading Volkswagen Narratives:
These sit on top of the DCF and P/E work you have seen already, and give you concrete storylines you can compare with your own expectations before making any decisions.
🐂 Volkswagen Bull Case
Fair Value: €295.23
Implied discount to this Fair Value: 70.2% undervalued
Revenue growth assumption: 2.85%
Sees Volkswagen in a financial turnaround, with efficiency gains and cost savings of over €10b reshaping profitability. Highlights support from premium brands such as Porsche, contributing to a leaner, more resilient group. Argues that as margins improve, the P/E could move toward 10x, reflecting a company viewed less as a low margin legacy automaker and more as a stronger industrial business.
🐻 Volkswagen Bear Case
Fair Value: €68.40
Implied premium to this Fair Value: 28.6% overvalued
Revenue growth assumption: 1.0%
Focuses on pressure from past missteps, including emissions issues and concerns around electrification and regional exposure. Points to weaker profitability, questions around margin improvement timing, and guidance that targets only modest growth. Notes that while new value segment models, including EVs, could help later, the overall balance of pros and cons is currently viewed as negative.
Together, these contrasting narratives show how different views on Volkswagen’s costs, profitability and execution can lead to very different Fair Values, which you can weigh against your own view of the stock’s risks and potential.
To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Volkswagen on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.
Do you think there's more to the story for Volkswagen? Head over to our Community to see what others are saying!XTRA:VOW3 1-Year Stock Price Chart
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include VOW3.DE.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- German sports car maker Porsche to cut 500 jobs
May 8, 2026
Porsche suffered hefty losses after hitting the brakes on its electric transition (CHARLY TRIBALLEAU)·CHARLY TRIBALLEAU/AFP/AFP
Porsche said Friday it will close three subsidiaries, including an EV battery developer, with the loss of more than 500 jobs, in the latest sign of strains for the German luxury auto manufacturer.
The maker of the 911 sports car has seen profits collapse due to plunging Chinese sales, US tariffs, and a costly decision to hit the brakes on its troubled electric transition.
As well as the outfit that developed electric vehicle (EV) batteries, a software-making subsidiary and one making systems for electric bikes will be shuttered, said Porsche, a subsidiary of Volkswagen.
"Porsche must refocus on its core business," said Michael Leiters, who took over as the manufacturer's chief executive at the start of this year.
"This forces us to make painful cuts -- including our subsidiaries."
A total of 360 of the job cuts are at the e-bike company, in both Germany and Croatia, with the rest at the other two subsidiaries.
The cuts amount to around one percent of the group's global workforce of some 42,000.
Its shares were up 1.7 percent in Frankfurt after the announcement.
The carmaker had already announced 1,900 job cuts in February last year.
Porsche is among automakers which have recently taken a hefty hit after ploughing huge sums into the electric transition, only to find demand weaker than expected.
The manufacturer announced last year it was slowing its shift to EVs, a move that dented 10-brand Volkswagen's profits by billions of euros.
Measures included delaying the introduction of some fully electric cars, and extending the life of some combustion engine and hybrid models.
Volkswagen, Europe's biggest automaker, and the broader German car industry are in crisis due to fierce competition in key market China, weak demand in Europe and the choppy transition to EVs.
Porsche's profits virtually vanished last year, and it warned 2026 would also be tough, with lower sales and squeezed margins.
sr/fz/rl
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- Trump's 25% EU car tariff could add $10,000 to your next Mercedes, BMW or VW — and push all car prices higher
May 7, 2026
All roads lead to tariffs when it comes to President Donald Trump. The White House is set to impose a 25% tariff on the European Union's auto sector, which will impact all cars and trucks manufactured in Europe for sale in US car lots.
Trump's pivot comes in response to his perceived non-compliance with the agreed-upon trade deal by the European Union (1), in addition to his taking great umbrage at German Chancellor Friedrich Merz's comments that the US was being humiliated by Iran (2). He took to Truth Social on May 1 to voice his displeasure.
"I am pleased to announce that, based on the fact the European Union is not complying with our fully agreed to Trade Deal, next week I will be increasing Tariffs charged to the European Union for Cars and Trucks coming into the United States," Trump wrote (3).
Not intimidated, European Commission President Ursula von der Leyen shot back at Trump, stating they should stick to the terms of the agreement reached in Brussels last July (4). That same deal set the rate at 15%.
"A deal is a deal, and we have a deal. And the essence of this deal is prosperity, common rules and reliability," von der Leyen said in Armenia this week.
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What the 25% tariff actually does
The global markets are familiar with tariffs since they're Trump's most-used tactic. However, the 25% levy applies to the vehicles brought into the United States from EU countries. That means if a car is imported at the wholesale value of $40,000, the tariff could add $10,000 before it even reaches a dealership lot.
According to the European Automobile Manufacturers Association (ACEA) (5), the main lobbying and standards group of the car industry in the EU, the US remains the second-largest market for new EU vehicle exports after the UK. American markets accounted for 18.4% of the EU export market in 2025, down from 21.9% in 2024 (6).
While some brands assemble cars in North America — including BMW in South Carolina, Mercedes-Benz in Alabama, Volkswagen in Tennessee and Volvo in South Carolina — a significant share of inventory would still be affected (7).
The immediate impact will likely show up on car lots, but the longer-term effects could include limited inventory, delayed shipments, or shifts in where automakers choose to assemble future vehicles.
Story Continues
French President Emmanuel Macron criticized Trump's threats as a time waster. "Especially in the geopolitical period we are experiencing, allies like the United States of America and the European Union have much better things to do than to stir up threats of destabilization," Macron told reporters (8) on Tuesday. "For our businesses, our households, our populations, we should rather send a message of stability and confidence."
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What you can do now
Even if you're an American and you have no plans to buy a European car, it can still hit your wallet — hard. Higher prices on imported cars can push more buyers towards domestic brands, increasing demand and potentially driving up prices across the entire market, used cars included (9).
If you're in the market for a vehicle, you may see fewer deals, higher monthly payments and limited inventory, especially for more popular models. Brands affected include Volkswagen, BMW, Mercedes-Benz, Audi, Porsche, Jaguar, Land Rover, Aston Martin, Bentley, McLaren, Rolls-Royce, Lotus, Ferrari, Lamborghini, Maserati, Alfa Romeo, Fiat, Volvo and Polestar.
As prices rise, so do loan amounts, which can mean paying more interest over time. That's a direct hit to household budgets already stretched by inflation. Americans are also $1.68 trillion in debt due to auto loans, according to CNBC (10).
In the meantime, if you're considering a car purchase, it may be worth acting sooner rather than later to pick up that BMW or Jaguar before price increases take hold. Comparing domestic and non-EU alternatives, buying used or locking in financing early could help soften the blow.
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Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see ourethics and guidelines.
Reuters (1); AP News (2),(8); X (3); Politico (4); European Automobile Manufacturers Association (5),(6); Manufacturing Today (7); Kelley Blue Book (9); CNBC (10)
This article originally appeared on Moneywise.com under the title: Trump's 25% EU car tariff could add $10,000 to your next Mercedes, BMW or VW — and push all car prices higher
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- Volkswagen And Partners Back Rivian Funding As Growth And Dilution Weigh
May 6, 2026
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Volkswagen increases its stake in Rivian Automotive (NasdaqGS:RIVN) through a large private share placement under an amended investment agreement. Rivian completes an additional capital raise with SMB Holding and Uber, adding new institutional backing. These equity investments are tied to Rivian’s future product and technology roadmap and deepen its partnerships with major industry players.
Rivian focuses on electric trucks, SUVs, and commercial delivery vehicles, a segment that continues to attract capital and partnerships as electrification and software heavy platforms remain central themes across autos and mobility. For investors watching the broader EV sector, fresh capital from established corporate partners can be just as important as product launches or production milestones.
For holders of NasdaqGS:RIVN, these deals provide new information about who is putting fresh money to work in the stock and on what terms. The expanded Volkswagen relationship, together with SMB Holding and Uber, also sets the stage for closer cooperation on products and technology that could influence Rivian’s position in both consumer and commercial markets over time.
Stay updated on the most important news stories for Rivian Automotive by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Rivian Automotive.NasdaqGS:RIVN Earnings & Revenue Growth as at May 2026
We've flagged 1 risk for Rivian Automotive. See which could impact your investment.
Volkswagen’s move to a 15.9% stake and the US$300m private placement with SMB Holding linked to Uber together give Rivian a clearer funding line for its product and software roadmap. For a company still reporting quarterly net losses of US$416m and relying on external capital to support higher planned capacity in Georgia and autonomy work, having multiple large corporate shareholders can matter just as much as traditional equity markets. The private placements are also tied to commercial milestones under the agreements with SMB and Uber, which connects new equity directly to future robotaxi volumes and software deployment rather than being purely balance sheet driven.
How This Fits Into The Rivian Automotive Narrative
The deeper Volkswagen stake and the SMB and Uber capital raise align with the narrative that partnerships and technology sharing can support Rivian’s cost structure and software ambitions over time. At the same time, fresh equity issuance adds to share count, which speaks to the narrative’s concern about ongoing funding needs and potential dilution while Rivian remains loss making. The size and timing of these private placements, and how future tranches could be structured, are not fully captured in earlier narrative assumptions that focused mainly on plant funding and product rollout.
Story Continues
Knowing what a company is worth starts with understanding its story. Check out one of the top narratives in the Simply Wall St Community for Rivian Automotive to help decide what it's worth to you.
The Risks and Rewards Investors Should Consider
⚠️ Rivian is still unprofitable and analysts do not expect profitability within the next 3 years, so the business remains dependent on external funding. ⚠️ New share issuances, including the US$300m private placement, create dilution risk for existing shareholders if similar deals continue. 🎁 Revenue is forecast to grow 32.65% per year, which, if achieved, would support Rivian’s effort to scale into its Georgia plant and new products. 🎁 The stock is assessed as trading at 50.1% below one estimate of fair value, which some investors may see as potential upside if execution improves.
What To Watch Going Forward
From here, watch how Rivian converts these partnerships into concrete orders, software revenue and cost-sharing benefits, especially as it prepares higher-capacity production and plans robotaxi volumes with Uber. Execution on the R2 ramp, progress at the Georgia facility and any further use of the mixed-shelf registration will be key signals of how management balances growth plans with dilution and balance sheet strength, particularly as it competes with Tesla, Ford and General Motors in both consumer and commercial EVs.
To ensure you're always in the loop on how the latest news impacts the investment narrative for Rivian Automotive, head to the community page for Rivian Automotive to never miss an update on the top community narratives.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include RIVN.
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