Audi Volkswagen announced this week that it has made changes in the company. In particular, the company is now called the Volkswagen Group Korea, and this name change is said to be in line with the German automaker's "New Auto" strategy that was revealed not long ago.
With the strategy, Volkswagen made a promise to boost synergies across its units and brands while also lessening complexity and redundancy. Korea Joongang Daily mentioned that Volkswagen Group Korea is currently managing four luxury auto brands in the country, and these are Lamborghini, Audi, Bentley, and Volkswagen.
It was said that the company has another brand but it is not yet being sold in South Korea. However, without disclosing the brand, the Volkswagen Group will be bringing this one to the country soon.
"In tandem with the group's strategy, we will focus on introducing various new and attractive models, maximizing the synergy between the group and its brands to offer a higher level of experience for our customers and laying the foundation for sustainable growth," Volkswagen Group Korea's managing director, Til Scheer, said during an online press conference earlier today.
He also said that they would be installing more electric vehicle chargers and service centers to answer to the growing demand of EV drivers in the nation. The executive said that 29 of its 79 VW service centers would be able to fix electric vehicles, and one of them would also be able to repair high-voltage EV batteries.
"Korea is much advanced in charging infrastructure. I do believe Korea is one of the countries that has the highest density of chargers," Sheer explained. "We will continue to explore ways to elevate the convenience in charging, for instance, we are offering customer-only reservation and on-demand charging service."
Meanwhile, Yonhap News Agency further reported that along with the announcement of its name change to Volkswagen Group Korea, the automaker revealed it will also be launching 22 new vehicle units, including upgraded models under its four brands and these are the Audi A3 compact, the Volkswagen ID.4 all-electric SUV, and the Q4 e-tron.


Europe Heatwave Creates Growth Opportunity for Carrier, Trane, and Johnson Controls, Citi Says
Microsoft Reportedly Plans New Job Cuts Across Sales, Consulting, and Xbox
Lenovo Shares Slide as AI-Driven Memory Demand Signals Higher DRAM and NAND Prices
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea
Oil Prices Rise as U.S.-Iran Talks Keep Geopolitical Risks in Focus
Asian Stocks Mixed as South Korea Slides on Profit-Taking, Japan and China Gain on Strong Factory Data
Momenta Launches Hong Kong IPO to Raise Up to $751 Million for AI and Robotaxi Expansion
Kakaku.com Shares Rise as Bain Capital and LY Corp Prepare Higher Takeover Bid Than EQT
South Korea Alleges Google Abused Android App Store Dominance, Eyes Major Fine
Nike Q4 Earnings Beat Estimates as Wholesale Growth Offsets Direct Sales Weakness
Asian Currencies Slip as Dollar Holds Firm, Yen Near Four-Decade Low Ahead of Fed, Jobs Data
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action
Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan
UK House Prices Hold Steady in June as Annual Growth Misses Forecasts
Yen Falls to 40-Year Low as Markets Watch Japan Intervention and U.S. Jobs Report
Morgan Stanley Names BAE Systems Top European Defence Stock Despite Lower Price Target
Greece’s Bad Loan Crisis Continues to Limit Credit Access Despite Economic Recovery 



