Volkswagen pledged it would not turn its back on indebted ally Porsche SE, even as it warned that there were sizeable obstacles to a merger deal. In the meantime, Volkswagen quashed speculation that it could expand its motorsport activities to include NASCAR and Formula One. There has been speculation for months over whether VW would enter NASCAR with a factory team to bolster its appeal in the US market.

As a brand, Volkswagen is most present in motorsport through its participation in the annual Dakar rally now held in South America, where VW's factory driver Nasser Al-Attiyah of Qatar won this year with his Racing Touareg. – Photos by Reuters

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Hasty transition
Updated 05 May, 2024

Hasty transition

Ostensibly, the aim is to exert greater control over social media and to gain more power to crack down on activists, dissidents and journalists.
One small step…
05 May, 2024

One small step…

THERE is some good news for the nation from the heavens above. On Friday, Pakistan managed to dispatch a lunar...
Not out of the woods
05 May, 2024

Not out of the woods

PAKISTAN’S economic vitals might be showing some signs of improvement, but the country is not yet out of danger....
Rigging claims
Updated 04 May, 2024

Rigging claims

The PTI’s allegations are not new; most elections in Pakistan have been controversial, and it is almost a given that results will be challenged by the losing side.
Gaza’s wasteland
04 May, 2024

Gaza’s wasteland

SINCE the start of hostilities on Oct 7, Israel has put in ceaseless efforts to depopulate Gaza, and make the Strip...
Housing scams
04 May, 2024

Housing scams

THE story of illegal housing schemes in Punjab is the story of greed, corruption and plunder. Major players in these...