Audi could build plant in U.S. to placate Trump, Spiegel reports
Audi is considering building a plant in the southern U.S., which would be the more expensive option out of a number of scenarios being considered, with company sources estimating costs of up to 4 billion euros (US$4.6 billion), the report said.
An Audi spokesperson said that the company aims to build up more of a presence in the United States.
'We are currently examining various scenarios for this. We are confident that we will make a decision this year in consultation with the (Volkswagen) group on how this will look in concrete terms,' she said in an emailed statement, reaffirming earlier comments made by the company.
Audi has no production of its own in the U.S., but Volkswagen has a plant in Chattanooga, Tennessee and one under construction near Columbia, South Carolina.
Trump's announcement of sweeping tariffs has already racked up hundreds of millions of euros in costs for German carmakers heavily reliant on their export business, according to an industry representative.
BMW, Mercedes-Benz and Volkswagen are in talks with Washington over a possible import tariff deal, seeking to use their U.S. investments and exports as leverage to soften any blow, sources have told Reuters.
($1 = 0.8678 euros)
---
Reporting by Rachel More, editing by Friederike Heine and Thomas Seythal
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
15 minutes ago
- Globe and Mail
Northeast Bank Announces Dates for Fiscal 2025 Fourth Quarter Earnings Results and Conference Call
PORTLAND, Maine, July 23, 2025 (GLOBE NEWSWIRE) -- Northeast Bank (the 'Bank') (NASDAQ: NBN), a Maine-based bank, announced today it will release its fiscal 2025 fourth quarter earnings results on Monday, July 28, 2025. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Thursday, July 31, 2025. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, Richard Cohen, Chief Financial Officer, and Pat Dignan, Chief Operating Officer. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available via a live webcast, which can be viewed by accessing the Bank's website at and clicking on the Investor Relations section. To listen to the webcast, attendees are encouraged to visit the website at least 15 minutes prior to the start of the call to register, download and install any necessary audio software. Please note there is a slide presentation that will accompany the webcast. For those who cannot listen to the live broadcast, a replay will be available online for one year at About Northeast Bank Northeast Bank (NASDAQ: NBN) is a bank headquartered in Portland, Maine. We offer personal and business banking services to the Maine market via seven branches. Our National Lending Division purchases and originates commercial loans on a nationwide basis. ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at NBN-F
Globe and Mail
25 minutes ago
- Globe and Mail
Eaton declares quarterly dividend payable August 22, 2025
The Board of Directors of intelligent power management company Eaton (NYSE:ETN) today declared a quarterly dividend of $1.04 per ordinary share. The dividend is payable August 22, 2025, to shareholders of record at the close of business on August 7, 2025. Eaton has paid dividends on its shares every year since 1923. Eaton is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we're helping to solve the world's most urgent power management challenges and building a more sustainable society for people today and generations to come. Founded in 1911, Eaton has continuously evolved to meet the changing and expanding needs of our stakeholders. With revenues of nearly $25 billion in 2024, the company serves customers in more than 160 countries. For more information, visit Follow us on LinkedIn.
Global News
an hour ago
- Global News
Canadian return trips from the U.S. fell nearly 32% in May: StatCan
The growing trend of Canadians avoiding the United States for travel is still going strong, according to new data from Statistics Canada. It's a pattern that's been consistent for multiple months in a row as the trade war has shifted the mindset of travellers from Canada and around the world. Statistics Canada said on Wednesday that trips by Canadian residents returning from the U.S. in May fell 31.9 per cent compared with May 2024, and that's the fifth straight monthly year-over-year decline, while return trips from overseas increased by 8.9 per cent. The report also shows that Canadians overall are travelling abroad less in 2025 than in previous years, with a 22.5 per cent decrease in trips outside the country's borders in May 2025 compared with the same period a year ago, which marks the fifth consecutive monthly year-over-year decline. Story continues below advertisement When looking month to month, May saw a decrease in trips abroad by just over three per cent from April. Fewer Americans are taking trips to Canada as well, with May marking the fourth straight monthly drop in U.S. resident visitors, falling by 5.6 per cent compared with the same month in 2024. 2:03 European, Canadian cities popular destinations for summer travel: Pearson airport What is leading to these travel changes? Ever since the start of the trade war and U.S. President Donald Trump's tariffs, Canadian views of their southern neighbour have soured. Story continues below advertisement This may be rooted more in a sense of 'betrayal' by the Trump administration and tariffs, as the U.S. has long been Canada's closest ally in both trade, tourism and defence. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The U.S. has noticed the drop in Canadian visitors, too, according to some senators who visited Ottawa on Monday, with one speaking directly to Canadian tourists, saying, 'We miss you.' When some Canadians have the option to travel abroad, they may be looking more than before to places like Europe instead of the U.S., according to Statistics Canada. Canadian resident trips by air from overseas countries increased by 9.3 per cent in May 2025 compared with one year earlier. That compares with a 17.4 per cent drop in trips by Canadian residents by air from the U.S., and a 37.4 per cent drop in trips by automobile from the U.S. This boost in travel demand to places like Europe has been echoed by data from airlines and airports, and comes as more and more Canadians are choosing to travel domestically. Canadians have responded to the trade war tensions with a renewed sense of patriotism that focuses on the local economy, where Canadians are being more particular about where their loonies are being spent. Many are prioritizing supporting locally made and sourced products and services wherever possible. Story continues below advertisement The Canada Strong Pass was developed by the federal government as a way to make it easier for Canadians to access national parks, museums, galleries and Via Rail for free or at a reduced cost. When first announced, Prime Minister Mark Carney, then the Liberal party leader, said the Canada Strong Pass was being launched 'at a time when our economy is under attack from President Trump.' Carney added: 'We are a proud country – and united, we will strengthen our Canadian identity in the face of this crisis.'
