VW exec says Wolfsburg plant will be leader in networked production

McLaren Group has named Kate Ferry as its new finance boss as the company struggles financially with the fallout of the coronavirus pandemic.

The automaker's memo contrasts with CEO Elon Musk's January confidence that the goal will be reached.

Germany's top auto show, the IAA, is expected to go ahead after switching to Munich from its traditional home of Frankfurt, but it will have a hybrid virtual/real world concept and fewer automakers will attend.

First-quarter results received a boost from the sale of previously leased vehicles, in particular in the U.S. market, the automaker said.

BMW has no plans to seek new partnerships or joint ventures despite current restraints, CEO Oliver Zipse said. "For critical components, we will stick with long-term supply contracts and a range of different partners," he said.

VW Group began construction on a factory at its joint venture with Jianghuai Automobile in the eastern city of Hefei to ramp up EV production in China.

Fraser Dunn, while at Aston Martin, worked on such vehicles as the Vulcan and Valkyrie Hypercar. He is leaving his post and joining the APMA project full-time.

The automaker will begin deliveries of its ES8 large SUV in Norway in September and will install a network of city center stores, charging stations, service centers and battery swap stations in the country.

The aim of the realignment is to have a uniform global presence for the Mercedes corporate brand and its product brands, the automaker said.

VW Group is looking for partnerships because it cannot fund its six battery cell factories in Europe alone, CEO Herbert Diess said.