SoftBank is in talks to invest up to $25 billion in ChatGPT owner OpenAI, according to a person familiar with the matter, as the Japanese conglomerate continues to expand into the sector.

Volkswagen has contested a $1.4 billion tax demand from the Indian Government in the Mumbai High Court, claiming it threatens its investment and operations in the country. Click for more details.

The dispute, which involves the importation of car parts, could impact the company's business plans and investment in India.

Volkswagen has filed a lawsuit against Indian authorities over what the brand describes as an "impossibly enormous" tax demand, according to a new report from Reuters — a bill of $1.4 billion.

Citing legal filings, the report revealed that the auto major’s unit, Skoda Auto Volkswagen India told the Mumbai HC that the tax conflict puts its investments worth $1.5 billion in India at risk.

Volkswagen (VWAGY) shares skidded lower as the U.S. slapped tariffs on trading partners, but there are perhaps more pressing import tax matters

The recent developments are in light of India's Finance Ministry and Customs officials placing a USD 1.4 Billion (Rs 12k Cr) tax demand on Volkswagen Group's Indian operation under Pvt Ltd. The allegation against Volkswagen was that the company used unlawful practices to cut down on import taxes.

In November 2024, the Volkswagen Group was slapped with a notice for evading a tax worth humongous $1.4 billion (approx. Rs 11,847 crore) by the Government of India for “wilfully” paying lesser import tax on components for the cars brought to India under the Audi, VW and Skoda brands.