German carmaker Volkswagen will stop all business relations with Iran, following weeks of discussions with the Donald Trump administration, Bloomberg reported quoting the US Ambassador to Germany Richard Grenell. The move would be part of complying with the US sanctions on Iran, Grenell added.
Neither Volkswagen nor the White House has commented on the same.
Trump had earlier withdrawn from a nuclear deal inked with Iran during the presidency of Barack Obama in 2015, alleging that the deal failed in its purpose of keeping Tehran’s nuke development projects under check. The trade sanctions that existed before the deal was reinstated as well.
The ambassador, meanwhile, told Bloomberg that humanitarian exception was given to Volkswagen to continue some business in Iran.
VW goes e-way
Volkswagen has unveiled a slew of electric vehicles, apparently in a move to compensate for the discontinuation of the iconic Beetle model. The new vehicles include cargo version of the ID Buzz electric microbus, an ABT e-Transporter taxi concept, an e-Cabby taxi, and a Cargo e-bike.
The ID Buzz electric microbus, which is likely to go on sale by 2022, has a range of 300 miles and the ability to charge 80% in just 15 minutes. The vehicle would be an eight seater.
Meanwhile, the ABT e-Transporter concept will come in two energy capacities of 37.3 kWh and 74.6 kWh and will have the driving range between 208km and 400 km. The ABT e-Cabby taxi, which will hit the market in mid-2019, will come with an 82-kW electric motor with a range of up to 220 km.
Volkswagen also unveiled a pedal electric cycle called Cargo e-Bike that comes with a 250 Watt mid-mounted motor, which can travel at 25 km per hour. The three-wheel cycle would be hitting the market next year and is designed to carry a maximum payload of 210 kilograms, including the rider.
The company also unveiled its next-generation modular electric drive matrix (MEB) platform that would be based on the production versions of its ID concept electric vehicles.
Most Popular
PG Earnings: Procter & Gamble Q3 profit climbs, beats estimates
Consumer goods behemoth The Procter & Gamble Company (NYSE: PG) announced financial results for the third quarter of 2024, reporting a double-digit growth in net profit. Sales rose modestly. Core
AXP Earnings: All you need to know about American Express’ Q1 2024 earnings results
American Express Company (NYSE: AXP) reported its first quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, increased 11% year-over-year to $15.8 billion, driven mainly by higher
Netflix (NFLX) Q1 2024 profit tops expectations; adds 9.3Mln subscribers
Streaming giant Netflix, Inc. (NASDAQ: NFLX) Thursday reported a sharp increase in net profit for the first quarter of 2024. Revenues were up 15% year-over-year. Both numbers exceeded Wall Street's
Comments
Comments are closed.