Herbert Diess, the Volkswagen CEO whose image had been tarnished in the fallout from the German automaker’s emissions-cheating scandal, is stepping down.

Executives with German automaker Volkswagen say at the World Economic Forum meeting in Davos that supply chain problems exacerbated by the Russia-Ukraine war are easing but they’re dealing with a huge backlog of orders.

BMW and Volkswagen have warned that Russia’s invasion of Ukraine is causing shortages of some vital components, forcing them to reduce vehicle production in Europe.

Luxury brands Audi and Porsche are fattening the bottom line at German automaker Volkswagen.

German carmaker Volkswagen has launched a five-year project on the small Greek island of Astypalea to test the adoption of electric vehicles in areas switching to sustainable energy generation.

FRANKFURT – The board of automaker Volkswagen has given CEO Herbert Diess a public show of support for his push into digital and electric cars after media reports Diess had clashed with the company's powerful labor representatives over issues including top personnel decisions. The board statement Monday made no mention of Diess' contract, which expires in April 2023. Workers hold an unusual amount of clout at Volkswagen, through requirements that worker representatives hold board seats and because the company's home state of Lower Saxony holds a stake in the company. The board said Diess, 62, and the board had a mandate “to organise the necessary reduction of staff” and that worker representatives and management would agree by the end of the first quarter next year on a plan to cut fixed costs by 5%. A new board post for technology would be filled by components chief Thomas Schmall, and Murat Aksel will take over group purchasing, a function he holds at the Volkswagen brand level.

(CNN) - Volkswagen CEO Herbert Diess and the company's chairman, Hans Dieter Ptsch, were charged by German prosecutors on Tuesday with market manipulation tied to the carmaker's diesel emissions scandal. The two executives are accused of failing to disclose the huge financial risks of the diesel scandal to shareholders in a timely fashion. Martin Winterkorn, the former CEO of Volkswagen, was also charged by prosecutors. It's the latest fallout from Volkswagen's bombshell admission in 2015 that it had rigged millions of diesel cars worldwide to cheat on emissions tests, a scandal that has cost the company more than $30 billion. The-CNN-Wire & 2019 Cable News Network, Inc., a Time Warner Company.

William Walker via CNNVolkswagen and Ford announced plans Friday to work closely to develop electric- and self-driving vehicles, the latest automakers to partner in the face of massive changes rocking the auto industry. With this latest investment, Volkswagen has agreed to join Ford in investing in Argo AI, the autonomous vehicle platform company now valued at $7 billion. Ford said it will become the first additional automaker to use Volkswagen's electric vehicle architecture to build electric vehicles for the European market starting in 2023. But they said at the time they were investigating how to develop the next generation of vehicles, such as electric and self-driving cars. The companies, two of the world's major automakers, are racing to develop electric- and self-driving cars on their own while at the same time penning deals with rivals to help defray the cost of high-tech R&D.