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Tavares welcomed Franco-German plans to boost Europe’s electric car battery industry and to reduce EU carmakers’ reliance on Asian rivals by building two new battery factories. However, he said that big players like Bosch have studied the project and considered it was not profitable. He said PSA had also looked into it, but the initial capital costs were huge and localizing the battery industry may be difficult within current European Union regulatory constraints. “If European carmakers do not sell enough electric vehicles by 2020, 2025 and 2030, they will be ruined by fines cufflinks wholesale usa. This forces us to reserve significant volumes of batteries with Asian suppliers, who are awaiting us with a big smile,” he said..

FRANKFURT (Reuters) – Volkswagen’s Porsche unit on Sunday said it was cooperating with state prosecutors to clear up investigations into alleged tax debts related to early retirees and taxable benefits enjoyed by former top executives. A company spokesman said Porsche had “already responded to possibly anticipated tax payments via safety surcharges and lump sum payments.” cufflinks wholesale usa. The Bild am Sonntag (BamS) newspaper said on Sunday enforcement officers visited Porsche premises late last year..

The paper said they were investigating paperwork related to parties, private travel by managers on company planes and chauffeured cars, as well as shortfalls in payments to tax authorities due on salaries collected by former employees on early retirement schemes. The paper also said costs incurred for a birthday party held by former chief executive Matthias Mueller who ran the firm between 2015 and 2018 had required retroactive tax declarations and the late settlement of outstanding liabilities cufflinks wholesale usa.

In a statement, Porsche said the company had paid significant outstanding sums in question. It had handed over all documentation regarding possible tax liabilities for the employees in early retirement, it said cufflinks wholesale usa. The payments queried by the authorities related to 2009 to 2017, and prompted an onsite search at Porsche headquarters in June 2018, it said. Porsche had further responded to queries over its tax liabilities by launching internal tax compliance measures and processes, aided by external consultants, the statement added..

WASHINGTON (Reuters) – U.S cufflinks wholesale usa. authorities are investigating a fatal Tesla Inc Model S crash in Florida last Sunday that killed the driver and caused a massive fire, the second fatal Tesla crash in the state this week being probed, the National Highway Traffic Safety Administration (NHTSA) said on Saturday. The agency and the National Transportation Safety Board said late on Friday they were sending teams to investigate the other fatal crash Friday in Delray Beach, Florida of a 2018 Model 3 that crashed into a semi-trailer..