Archives for July 2019

• UK authorities invest nearly $100 million into electric vehicle research – CNBC: Industry and academia are set to lead the development of the new technologies.
• India’s Kotak Mahindra Bank Q1 profit slightly misses estimates – Reuters: India’s Kotak Mahindra Bank Ltd reported a 32.7% jump in first-quarter profit, but marginally missed estimates as …
• Uber Profit Path Seen Slowed by Riders Taking Cheaper Rides – Bloomberg: Uber Technologies Inc.’s path to profit is likely to be slowed by growing competition as a significant number of customers are willing to wait around for …
• Factory strategist Zipse offers BMW a bold way forward – Automotive News: This month, before Oliver Zipse knew that he would be named CEO of BMW Group, he gave an impassioned talk here to the …
• Traffic safety agency says its critics are wrong about its lack of toughness – Freep: … defects and must rely too much on car companies, safety advocates say. … “In many cases, we work closely with the manufacturer to raise consumer …
• Ford`s Slowing China Business Is Creating Roadblocks for Its Global Ambitions – Wall Street Journal: Ford’s multibillion-dollar push to expand in China this decade has veered off course, leaving it mired in a sales slump that is weighing on its future in the world’s …
• Automakers, TRW face US lawsuit over airbag system – Automotive News: Six automakers and supplier TRW face a U.S. federal lawsuit seeking class-action certification over defective airbag control units. The complaint, filed Monday in …

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• How autopilot was born a century ago – CNBC: When one pilot lifted his hands in the air and the other walked out onto the wing it was the first public demonstration of autopilot. In the plane that day …
• Volkswagen plant in Chattanooga hires new CEO – Washington Post: A Volkswagen plant in Tennessee is getting a new chief executive who in the coming months will work on an $800 million expansion and will oversee two …
• A big Tesla skeptic on Wall Street raised his estimate for second quarter earnings – CNBC: One of Tesla’s Wall Street skeptics now sees it headed to a nearly profitable second quarter earnings report.
• Why Oliver Zipse emerged as the new BMW CEO – Automotive News: Oliver Zipse”s powers of persuasion, evident from his patient explanations with detail to reporters, will be in demand after predecessor Harald Krueger”s wavering produced unhelpful divisions on BMW”s management board.
• Car loans mean banks don’t need high interest rates to rake in cash – Axios: Ally Financial was the latest bank to declare a major profit windfall in its second quarter earnings report, as the U.S. banking industry’s largest auto …
• Desperate to cut emissions, auto makers drive rhodium to 11-year high – Reuters: The price of rhodium, a precious metal used to curb harmful emissions from vehicle engines, has rocketed to its highest since …

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• Indonesia aims to start electric vehicle production in 2022 – Reuters: Indonesia is aiming to start producing electric vehicles (EVs) in 2022, a senior official at the Industry Ministry told Reuters on …
• GM’s mid-engine Corvette gears up to take on Europeans – Reuters: General Motors Co was set on Thursday to unveil its newly designed mid-engine 2020 Corvette in a splashy tribute to its emblematic sports car, even as the No.
• Daimler investors oppose plan to make Zetsche chairman, report says – Automotive News: A German business newspaper said some Daimler investors are resisting the plan because they regard Dieter Zetsche as responsible for several ongoing problems at the automaker.
• Former Jaguar design chief Callum launches new company – Automotive News: Before joining Jaguar, Callum worked at Aston Martin where he was responsible for cars such as the Aston Martin Vanquish, Vantage and DB9.
• GM brake supplier Akebono to receive $185M for turnaround – Automotive News: Akebono said it would book a special loss of 7.8 billion yen ($72 million) in the April-June quarter for quality-related issues.
• How the Chevrolet Corvette has changed since 1953 – Freep: Moving the engine in the new Corvette Stingray, to be revealed Thursday night, led to new styling that builds on previous ‘Vettes.
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• Key Daimler investors oppose plan to make Zetsche chairman, report says – Automotive News: Key Daimler investors oppose Dieter Zetsche’s elevation to … Daimler’s Mercedes-Benz vans unit has seen profitability plunge, with …
• BMW to pick new CEO, Zipse emerges as favorite – Reuters: BMW is set to name Oliver Zipse as its new chief executive, picking the manufacturing expert to help the German automaker make the shift to electric and self-driving cars and tackle new competition from technology giants.
• Cadillac reveals the price for its newest vehicle due out this fall – Freep: Cadillac’s new sedan coming to market this fall will be priced far below the sedan it replaces, and will offer added *content* and better performance.
• Corvette Courts Ferrari Fans With a Mid-Engine Sports Car – Bloomberg: As Baby Boomers have gotten older, they’ve been leaving sports cars for sport utility vehicles with more space and creature comforts. Corvette sales …
• Toyota builds a better golf cart for 2020 Olympics – Automotive News: Toyota spent three years studying ground vehicles at the past two Olympics so it could improve transport at the 2020 Tokyo games. Now, it has unveiled its vision: Build a better golf cart.
• Renault’s Senard expects Nissan’s new board to embrace alliance – Reuters: Renault (RENA.PA) is confident that alliance partner Nissan’s (7201.T) new board will work to reinforce the their partnership as it …
• SoftBank’s Son Shines a Spotlight on His Vision Fund Proteges – Bloomberg: The founders of Southeast Asian ride-hailing giant Grab, indoor farming startup Plenty, Indian hotel chain OYO Rooms and payments service Paytm …
• China’s Didi plans to relaunch Hitch service with new safety features – Reuters: Chinese ride-hailing giant Didi Chuxing said on Thursday it was proposing to relaunch its Hitch carpooling service with added safety features, almost a year after suspending the service following the murder of a female passenger by her Didi driver.
• Lotus mulls second UK plant, could build SUV in China – Automotive News: … Automobili’s Concept One, as well as top-end conventional models from automakers such as Ferrari and Lamborghini, Popham said future cars will …
• Indonesia’s Astra bets on ride-hailing firm Go-Jek as car sales dive – Reuters: Launched in 2011, Go-Jek has evolved from ride-sharing to allowing its customers to make online payments and order everything from food to …
• Thai domestic car sales suffer first fall in 2-1/2 years in June – Reuters: Thailand’s domestic car sales declined for the first time in 30 months in June, as finance firms used stricter lending …
• Mercedes-AMG Updates GLC 43 SUV and Coupe for 2019 – Detroit Bureau: Mercedes-AMG Updates GLC 43 SUV and Coupe for 2019 … (Daimler Ups its Game with Second-Gen Mercedes-AMG CLA 45). “The new GLC 43 …
• Ghosn sues Nissan and Mitsubishi Motors for 15m euros – Nikkei: Ghosn sues Nissan and Mitsubishi Motors for 15m euros … Nissan Motor CEO Hiroto Saikawa and Mitsubishi Motors Chairman Osamu Masuko serve …
• Breakingviews – Stalling Didi scrabbles to rev its China engine – Reuters: Stalling Didi scrabbles to rev its China engine Reuters(Reuters Breakingviews) – China’s Didi Chuxing is revving up its sputtering engine. The ride-hailing app is trying to raise up to $2 billion in *fresh* funds, the Wall …
• Volvo’s SUV growth drives record sales – Autocar: Autocar
• Bentley Celebrates Its 100th Year After Barely Surviving Its 99th – Bloomberg: The fourth is adding a plug-in hybrid option to every vehicle in the lineup by 2023 to decrease the carbon footprint and broaden sales. The last is the …
• Volvo Cars launches cost cutting measures as trade war dents profit again – Reuters: Sweden’s Volvo announced new measures to cut fixed costs by 2 billion Swedish crowns ($214 million) on Thursday, as it became the latest carmaker to warn …
• Audi to debut two all-new RS models this year – Autocar:
• Uber glitch charges passengers 100 times the normal price, resulting in crosstown fares in the … – Washington Post: Uber passengers in multiple cities were startled Wednesday when they were charged 100 times their normal fare for short trips, a glitch that sparked …

• Tesla floats fully self-driving cars as soon as this year. Many are worried about what that will unleash. – Washington Post: The company’s decision to deliver new self-driving technology to hundreds of thousands of drivers has rivals and regulators on edge as many worry it could …
• Peugeot-maker PSA is testing autonomous driving technologies in Spain – CNBC: The collaboration will focus on a number of areas, including the protection of vulnerable road users.
• South African subsidiary of carmaker Ford to add 1,200 jobs – Reuters: Africa(Adds background, detail). JOHANNESBURG, July 17 (Reuters) – The South African unit of Ford Motor Co said on Wednesday it would hire an additional 1,200 …
• U.S., Japan eye possible small trade deal by Sept., report says – Automotive News: An auto industry official said the deal could involve Japan offering U.S. farmers new access to its market in return for Washington reducing tariffs on certain Japanese auto parts, Reuters reported. The talks remain fluid.
• Regulator Finds Uber Eats’s Stiffing of Restaurants Hard to Stomach – WSJ: The ride-hailing company’s food-delivery arm, Uber Eats, will amend contracts by the end of the year after Australia’s competition watchdog …
• IAC invests $250 million in car-sharing company Turo – CNBC: IAC is set to invest $250 million in Turo, a peer-to-peer car-sharing firm that is often referred to as the “Airbnb for cars.”

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• Continental’s self-driving chief sees full autonomy taking time – Automotive News: The first fully autonomous vehicles able to handle all conditions on public roads will probably not appear until after 2030, said Continental”s head of self-driving car projects, Andree Hohm.
• Just Say No to the New Nafta – Bloomberg: In any case, abrogating Nafta without a replacement would devastate the auto industry in states Trump needs to win in 2020, including Texas.
• Tesla Says It Cut Prices of Vehicles Shipped to China – Bloomberg: The starting price of the imported Model 3 sedan was lowered to 355,900 yuan ($51,764) from 377,000 yuan, according to a list provided by a Tesla …
• How North Korea’s Leader Gets His Luxury Cars – New York Times: The cars are top-of-the-line Mercedes-Benzes – the Maybach S600 …. Daimler, the parent company of Mercedes, says Mercedes runs background …
• Daimler plans to ax Mercedes X-class pickup amid profit slump – Automotive News: The Mercedes-Benz X-class pickup is to be dropped as the brand’s parent company, Daimler, seeks to reduce costs amid profit warnings, according to …

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• Ford, UAW to kick off contentious contract talks – Reuters: The United Auto Workers and Ford Motor Co will officially launch talks on a four-year contract on Monday that are expected to be contentious, with rising healthcare costs, job security and the use of temporary workers expected to be major sticking points.
• Asleep at the wheel: Japanese rental cars used for anything but driving – Guardian: Car rental companies in Japan have figured out why some customers are returning their vehicles with barely a mile on the clock. Rather than travel …
• Car-Plant Closings and Corruption Color Detroit Three-UAW Talks – Bloomberg: On one side of the bargaining table will be union brass angry about plant closures and embarrassed by scandal. On the other will be auto executives sweating …
• Strike or no strike, UAW-Detroit Three contract talks could be brutal affair – Freep: Contract talks between General Motors, Ford and Fiat Chrysler Automobiles start Monday and Tuesday with ceremonial handshakes. Then the battles begin.
• Mexican Beetlemania outlives demise of the Love Bug – FT: VW’s beloved ‘vocho’ putters on despite coming to the end of the production line.
• China’s Didi Chuxing to allow app users to access rivals’ services – Reuters: China’s biggest ride-hailing company Didi Chuxing will allow users of its smartphone app to access services provided by apps of three domestic auto firms and others, in a push to generate more orders.

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• Ford plans to sell 600,000 VW-based EVs in Europe – Automotive News: Volkswagen will supply MEB parts and components for the EV. … The cooperation with VW on electric vehicles in Europe is part of Ford’s previously …
• Ford will develop electric car on VW platform in Germany – Automotive News: Volkswagen will supply MEB “parts and components” for the EV. Ford plans to deliver over 600,000 MEB-based vehicles in Europe over a six-year …
• VW CEO says Ford will pay ‘set by set’ to use MEB Eelectric vehicle platform – Reuters: Ford CEO Hackett says Ford, Volkswagen will share data generated by self-driving software company Argo AI …
• How Trump could use tariffs to fight back against France’s tax on US technology giants – CNBC: Ahead of the tax’s passage, the Office of the U.S. Trade Representative … China as the world’s two largest economies try to avoid a widening trade war. In May, his administration delayed tariffs on EU cars and auto part imports by up …
• July 12, 2019 | Truck war is heating up – Automotive News: Every Friday morning, Automotive News Publisher Jason Stein shares his perspective on some of the burning issues affecting the auto industry.
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• Small Cars Are Being Driven Out of Existence – Bloomberg: The last VW Beetle rolled off the production line this week and the Up! and the Polo are under threat. The triumph of the SUVs is not great news.
• Ford, Volkswagen join forces on electric, autonomous cars – Reuters: Ford Motor Co and Volkswagen AG joined forces to develop autonomous and electric cars on Friday and said they were also looking at other areas of cooperation, deepening a global alliance to slash development and manufacturing costs.
• Sri Lanka’s car-free day sparks debate over women’s safety – Reuters: NEW DELHI, July 12 (Thomson Reuters Foundation) – When Colombo’s mayor announced Sri Lanka’s congested capital would go car-free this …
• Connecting Lyft or Uber with public transit could bring data risks – Axios: … way to communicate rules to a 21st century vehicle, says Avery Ash, head of autonomous mobility at INRIX, a transportation data company.
• Prepare for sticker shock if you haven’t shopped for a new car lately – CNBC: Six years ago, the average APR for new-car loans was 4.1%. Applied to the then-average amount financed, $26,940, a borrower would have paid …
• Arctic wildfires in June equivalent to Sweden’s annual emissions: U.N. – Reuters: Arctic wildfires, some the size of 100,000 soccer pitches, emitted as much carbon dioxide (CO2) last month as the country of Sweden does in a whole year, the World Meteorological Organization (WMO) said on Friday.
• Russia delivers missile system to Turkey in challenge to NATO – Reuters: Russia began delivery of an advanced missile defence system to Turkey on Friday, a move expected to trigger U.S. sanctions against a NATO ally and drive a wedge into the heart of the Western military alliance.
• VW investment vaults Argo into top ranks of self-driving firms – Reuters: VW investment vaults Argo into top ranks of self-driving firms … The value of autonomous-driving startup Cruise jumped to $19 billion earlier this year …
• Volkswagen investment vaults Argo into top ranks of self-driving firms – Reuters: Volkswagen investment vaults Argo into top ranks of self-driving firms … of just over $7 billion, one of the highest in the autonomous vehicles sector.
• Trump’s tariffs could drive up the cost of new ‘L’ cars the CTA ordered – Chicago Tribune: A monumental overhaul of the Chicago Transit Authority’s rail car line has gotten … The transit agency and the manufacturer of the new cars disagree about … CRRC Sifang America, a subsidiary of a Chinese rail car company, won a …
• Daimler warns of Q2 earnings well below expectations – Reuters: Luxury carmaker Daimler on Friday warned investors that it expected a second-quarter loss before interest and taxes of 1.6 billion euros ($1.80 billion) …
• EU antitrust regulators to okay E.ON, Innogy deal – Reuters: EU antitrust regulators are set to approve … stations for electric cars along Germany’s Autobahn motorway network.
• Ford and VW to Share Costs of Self-Driving, Electric Cars – New York Times: Ford Motor and Volkswagen said Friday they would team up to develop self-driving cars and share electric-car components, significantly broadening an existing …
• Column: Why the cobalt market needs Congo’s “illegal” miners – Reuters: However, for now they’re stuck with the stuff since nickel-manganese-cobalt chemistry remains the bedrock of passenger vehicle batteries, albeit with …
• China iconic brand Hongqi’s luxury SUV hits the market – Xinhuanet: China’s automaker FAW Group on Friday began selling the first C-Class sport utility vehicle (SUV) of its iconic …
• Webasto chief remains ‘optimistic’ about tough 2020 goal despite sales dip – Automotive News: Webasto has set itself a target of increasing sales to 5 billion euros by 2020, despite the end of its eight-year growth last year. Webasto Chairman Holger …
• McLaren arrive at Silverstone with talented team driving resurgence – Guardian: McLaren arrive at Silverstone with talented team driving resurgence … This week McLaren reasserted their confidence in him by extending the …
• German Companies ‘Are Losing Their Importance’ as Big Names Struggle – WSJ: Meanwhile, German blue chips from software maker SAP SE to industrial … In turn, the difficulties of large car makers have filtered down through the …
• A Fukushima Ghost Town Seeks Rebirth Through Renewable Energy – WSJ: At the end of a winding road through miles of barren land, construction is nearing completion on one of the world’s largest hydrogen plants.
• Classic Porsche, Rolls-Royce, and Ferrari Models Are Losing Steam – Bloomberg: Vintage Mercedes 280SE , Acura NSX, Mercedes Pagoda, and Ferrari 308 models are some of the worst performers on the classic car market.
• Volkswagen to inject $2.6 billion into Ford unit Argo AI – Reuters: Carmaker Volkswagen will inject $2.6 billion into Ford’s self-driving unit Argo AI at an overall valuation of $7 billion in the deal, a source close to the matter said on Friday.
• Volkswagen to build new plant in Turkey – Automobilwoche – Reuters: Automobilwoche ReutersGerman carmaker Volkswagen is planning to build a multi-brand production plant in Turkey, a German trade magazine reported on Friday without citing sources.
• India’s diesel demand set for detour as drivers switch to gasoline – Reuters: India’s strong diesel demand growth is decoupling from the car market as motorists increasingly turn to gasoline vehicles, leaving it more reliant on patchy …
• China considers limited support for petrol-electric hybrids in boon for Toyota, Honda – Reuters: Global hybrid leaders Toyota Motor Corp and Honda Motor Co Ltd would be among the biggest beneficiaries of such change, which could allow them …
• Why Carmakers Want You to Stop Buying Cars, Someday – Bloomberg: Those jumbles of electric scooters piled up on sidewalks in San Francisco, Seattle, Beijing or other digitally minded cities are more than just a mess. They’re the …
• India’s 3-wheeler passenger vehicle begins shift toward electric mode – Xinhuanet: The country’s domestic auto manufacturers produce around 1 million … U.S. dollars to customers on interest paid on loans to buy electric vehicles, with …
• Big profits, slowing sales make for tough UAW contract talks – Detroitnews: As Detroit automakers head into negotiations next week with the UAW, the union is expected to be less likely to bend on health care and wages
• Renault raided over Ghosn’s Versailles wedding party – Mainichi: French authorities have searched the head office of Renault SA in connection with a probe into a lavish 2016 wedding party at the Pal.
• A Ford-VW alliance with Argo could redraw self-driving sector – Reuters: An expanded alliance between Ford Motor Co and Volkswagen AG that includes a partnership in Ford self-driving unit Argo AI could redraw the balance of power in autonomous vehicles.