Archives for June 2019

• Subaru, Mazda join Toyota’s self-driving vehicle venture – Automotive News: Five more Japanese automakers are investing in an on-demand, self-driving vehicle service — Monet — set up by Toyota and SoftBank in October.
• Ghosn lawyer says news conference canceled after his daughters raised concerns – Reuters: Former Nissan Chairman Carlos Ghosn canceled what would have been his first news conference since he was arrested last year after his daughters expressed concern about the potential consequences, his lawyer said on Friday.
• Tesla says single battery module caused car fire in Shanghai, has changed vehicle settings – Reuters: Electric vehicle (EV) maker Tesla Inc said on Friday a single battery module caused a car to catch fire in Shanghai and it had revised its vehicle settings to further protect its batteries following an investigation into the incident.
• Why BMW backs batteries over fuel cells for passenger cars – Automotive News: Since it takes just minutes to recharge the hydrogen, a fleet operator would need just a single refueling station to get the vehicles ready during the …
• Volkswagen’s Traton CEO on IPO, China Demand, Trade – Bloomberg: Andreas Renschler, chief executive officer at Traton, discusses the company’s Frankfurt trading debut, China’s demand for European trucks, expanding in the …
• Tesla Blames Battery-Module Fault for Causing Shanghai Auto Fire – Bloomberg: Tesla Inc. said an isolated battery fault caused a Model S to catch fire in a Shanghai parking lot two months ago, as the U.S. electric-car maker tries to ease …

[ There is more … ]

• Toyota to invest $2 billion in electric vehicles in Indonesia: ministry – Reuters: Japanese carmaker Toyota plans to invest $2 billion in electric vehicles in Indonesia between 2019 to 2023, starting with the development of hybrid cars, …
• Here are the biggest analyst calls of the day: Tesla, Facebook, Nvidia, Western Digital & more – CNBC: Here are the biggest calls on Wall Street on Thursday.
• VW piles into crowded car-sharing market with all-electric fleet – Automotive News: The WeShare offering, which has started in Berlin, could help Volkswagen bolster its push into electric vehicles by making them more visible to consumers.
• Uber targets expansion in fast-growing West African markets – Reuters: Global ride-hailing firm Uber Technologies Inc is in talks with regulators over plans to expand into two West African countries and provide a boat service in Nigerian megacity Lagos, a company executive said on Thursday.
• Ford to cut 12,000 jobs in Europe by end of 2020 – Reuters: Ford said it will have cut 12,000 jobs in Europe by the end of next year to try to return the business to profit, part of a wave of cost reductions in an auto industry facing stagnant demand and record-level investments to build low emission cars.
• Waymo makes autonomous vehicles available to Lyft riders – CNBC: Waymo, a subsidiary of Google-parent Alphabet which is developing autonomous vehicles and related services, has officially expanded its reach and …
• European car lobby cuts 2019 sales forecast to 1% fall – Reuters: Europe’s automotive lobby on Thursday cut its forecast for passenger car registrations this year to a 1% fall from a 1% rise, blaming slower growth and business concerns over Britain’s impending exit from the European Union.

[ There is more … ]

• France’s Macron hopes Renault and Nissan will strengthen their alliance – Reuters: French President Emmanuel Macron said on Wednesday he wanted Renault and Japan’s Nissan Motor to strengthen their alliance, with an …
• For automakers, new tech represents ‘profit deserts’ – Automotive News: Electric vehicle sales, he says, will remain low, averaging just 14,000 units sold per EV model through 2022. That’s a far cry from what automakers …
• Analysis | The Energy 202: Here’s why automakers are so eager to extend electric car tax breaks – Washington Post: THE LIGHTBULB. Tesla electric automobiles sit charging. (Jasper Juinen/Bloomberg). General Motors, Tesla and a fleet of other car manufacturers are going …
• The Energy 202: Here’s why automakers are so eager to extend electric car tax breaks – Washington Post: Oil and gas companies, said electric car proponent Rep. Daniel Kildee (D-Mich.), “prefer a world where every vehicle spews greenhouse gases, and …
• Hyundai Motor signs MoU with Saudi Aramco for hydrogen, nonmetallic materials cooperation – Xinhua | English.news.cn – Xinhuanet: South Korea’s biggest automaker Hyundai Motor Company said Wednesday that it signed a memorandum of understanding (MoU) …
• Capital structure with Nissan not up for discussion, Renault chairman says – Nikkei:

[ There is more … ]

• Fiat Chrysler Launching UConnect Market In-Car Payment Service – Detroit Bureau: Fiat Chrysler is offering vehicle owners the ability to order food, make reservations and pay for gas using its UConnect Market. Fiat Chrysler Automobiles N.V. is …
• No-deal Brexit ‘will cost UK car manufacturers extra £70m a day’ – Guardian: The cost of car manufacturing will go up £70m a day if the UK leaves the EU without a deal, making the British automotive industry more vulnerable to closures, …
• Nissan CEO pledges to defend independence from Renault – Nikkei:
• Daimler boss Kallenius faces first big test – Automotive News: When a company suddenly warns it won’t meet its profit target, investors can be unforgiving — especially when there is still more than half the year to go. That is …
• BMW focuses on ’emotionally engaging’ driving with M Next concept – Automotive News: Whereas the Vision iNext concept was an incubator of hands-free autonomous driving technologies, the Vision M Next is a decidedly hands-on driving …

[ There is more … ]

• Magna leads 4 Canadian companies on Automotive News list of top 100 suppliers – Automotive News: Four Canada-based auto parts makers find themselves on the Automotive News Top 100 Global Suppliers List. It’s the same number from a year ago.
• Polestar’s plan inspired by Tesla, but with one big difference – Automotive News: Polestar will have one thing Tesla does not: dealers. So far, about 35 North American Volvo dealers – and three in Canada – have expressed interest in a …
• Car trash to cash: US firm aims to power European stadiums with old car batteries – Reuters: U.S. industrial conglomerate Eaton , which uses second-hand Nissan electric vehicle batteries to power buildings, is in …
• Mercedes Isn’t Looking Too Reliable These Days – Bloomberg: After three profit warnings in a year, the German car giant’s new bosses need to get a grip on their seemingly endless diesel problems.

[ There is more … ]

• Tata Motors shares fall as Moody’s cuts credit rating – Nikkei:
• 1900 Michigan UAW workers strike at Saline plant for Ford, FCA, Tesla parts – Freep: Despite intense labor talks, the UAW failed to reach agreement with an auto parts supplier as of midnight Thursday and called a strike of 1,900 …
• Japan Played a Hidden Role in Breakdown of Fiat-Renault Deal – Bloomberg: The Japanese government played a role in the breakdown of merger talks between Renault SA and Fiat Chrysler Automobiles NV earlier this month, …
• Inside the race to develop the first flying, self-driving car – CBS News: In a rural Oregon airport, Airbus is testing what could become the world’s first autonomous flying air taxi – in other words, a flying, self-driving car.
• Luxury Holidays and SUVs Are Badges of Shame Now – Bloomberg: Climate protesters have realized there’s great mileage in making people feel ashamed of their consumer choices. The car and air industries should …
• Toyota Tsusho to wait on EV market before upping lithium investment – Reuters: Toyota Tsusho Corp, one of the world’s biggest lithium producers, said on Friday it would take at least two more years to …

[ There is more … ]

• BMW Billionaire Heirs Say Their Lives Are Harder Than You Think – Bloomberg: Dealing with the responsibility and jealousy from inheriting wealth is a misunderstood burden, according to Susanne Klatten and Stefan Quandt, the billionaire …
• Tesla Analysts Warn About Demand, Profits as Quarter Nears Close – Bloomberg: The concerns around the demand for Tesla Inc.’s cars are resurfacing as the second quarter nears a close, with Goldman Sachs analyst David Tamberrino …
• Toyota Canada’s Cambridge North Plant earns top JD Power quality award – Automotive News: Toyota’s North Plant in Cambridge, Ont., is the top assembly facility in the world, according to J.D. Power. The Toyota Motor Manufacturing …
• Goldman Sachs cuts Tesla price target: ‘Downward path for shares will resume’ – CNBC: Goldman Sachs slashed its price target on Tesla on Thursday and said it was expecting shares to continue to decline over concerns about demand.
• Renault has no plans to reduce Nissan stake to revive FCA deal, CEO says – Automotive News: Renault is not considering cutting its stake in alliance partner Nissan to revive a deal with Fiat Chrysler, the French automaker’s CEO said.
• Tech’s 4 Biggest Cash Burners Have Torn Through $23.9 Billion Combined – Fortune: Fortune decided to find out: How much money did Amazon, Apple, … new wave (which we’ll dub the Breakneck Burners: Tesla, Uber, Lyft, and Snap).

[ There is more … ]