Archives for June 2020

• Elon Musk, Tesla Board Sued by Pension Fund for ‘Unrelenting Avarice’ – Bloomberg: Elon Musk, Tesla Board Sued by Pension Fund for ‘Unrelenting Avarice”
• Ford gives America’s favourite truck a makeover – FT: Jim Hackett, who took the wheel as chief executive three years ago, is cutting jobs and closing factories in Europe, and has dropped all car models in …
• Ford Takes on Tesla With Hands-Free Driving for Electric Mustang – Bloomberg: Ford Takes on Tesla With Hands-Free Driving for Electric Mustang
• Ford to offer hands-free driving in 2021 – six years after Tesla – Reuters: Ford Motor Co said on Thursday that it will offer hands-free driving on its new Mustang Mach-E in fall 2021, six years after Tesla Inc and four years after General Motors Co introduced similar systems.
• Glass Lewis joins ISS in opposing Tesla chairwoman’s re-election to board – Reuters: Glass Lewis said on Thursday that it urged Tesla Inc investors to vote against re-electing Chairwoman Robyn Denholm to the company’s board, making it the second proxy advisory firm to oppose her appointment.

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• Mercedes threatened with UK recalls, legal action, over diesel emissions – Just-Auto: This time it’s Daimler’s Mercedes-Benz in media and lawyers’ cross-hairs. Reports said Mercedes could be forced to recall up to 500,000 vehicles in …
• Breakingviews – Tesla kills three birds with one Congolese stone – Reuters: Tesla kills three birds with one Congolese stone
• DOJ criminal investigation into Ford mileage, emissions continues for second year – Freep: This week, Jennifer Flake, executive director of Ford global markets, operations and product communications, confirmed the case remains unresolved. ” …
• U.S. calls bid by men to avoid extradition over ex-Nissan boss Ghosn’s escape ‘flawed’ – Reuters: U.S. prosecutors on Tuesday said a former Green Beret and his son, wanted by Japan for helping former Nissan Motor Co boss Carlos Ghosn flee the country, were advancing a “flawed” interpretation of Japanese law to fight their extradition.
• GM CEO Mary Barra ‘cautiously optimistic’ on coronavirus recovery, consumer demand – CNBC: GM CEO Mary Barra ‘cautiously optimistic’ on coronavirus recovery, consumer demand CNBC
• Volvo Group axes another 4,100 jobs – Just-Auto: Volvo Group plans to further decrease its white-collar workforce with approximately 4,100 positions to go in the second half of the year. It said around 15% are consultants and approximately 1,250 of these positions are in Sweden.

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• Renault to cut 1,500 engineering jobs in France: union source – Reuters: French carmaker Renault plans to cut 1,500 engineering jobs in France, a trade union source told Reuters on Tuesday.
• Volkswagen invests extra $200 million in U.S. battery company QuantumScape – Reuters: Volkswagen is increasing its stake in U.S. company QuantumScape by up to $200 million to boost the development of solid-state battery technology that aims to increase the ranges of electric cars and shorten charging times, the German carmaker said
• Future uncertain for new Ford Edge as company heads into labor talks in Canada – Freep: Labor union seeks “to clarify” future of Ford Edge and Oakville plant
• Ford Mustang Mach 1 to return to streets after 17-year absence. Here’s what it looks like – Freep: Since its first generation model in 1969, Ford has built just 2 Mach 1s. This one goes on sale next spring and takes features from popular Shelby GTs.
• Hyundai suspends Pallisade/GV80 output due to parts shortages – Just-Auto: Hyundai Motor suspended production of its Palisade flagship SUV and Genesis GV80 luxury SUV on Monday (15 June) due to parts supply shortages.
• General Motors CEO Mary Barra is choosing actions over words in the fight for a more inclusive business – Fortune: General Motors CEO Mary Barra is choosing actions over words in the fight for a more inclusive business
• Nissan says Carlos Ghosn coup emails are ‘fake’ – FT: Nissan says Carlos Ghosn coup emails are ‘fake”

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• Why Tesla, other companies’ coronavirus counts aren’t public – LATimes: Why Tesla, other companies’ coronavirus counts aren’t public
• Nissan Email Trail Casts New Light on Carlos Ghosn Takedown – Bloomberg: Nissan Email Trail Casts New Light on Carlos Ghosn Takedown
• JLR parent Tata Motors posts $1.3 billion quarterly loss – Reuters: JLR parent Tata Motors posts $1.3 billion quarterly loss
• Volkswagen expects very bad second-quarter, positive 2020 adjusted operating profit – Reuters: Volkswagen expects a very bad second quarter, but also sees a positive adjusted operating profit before special items for 2020, Chief Financial Officer Frank Witter said in an internal newsletter.
• Is Tesla Bigger Than Toyota? Depends on How Market Cap is Counted – Bloomberg: Is Tesla Bigger Than Toyota? Depends on How Market Cap is Counted
• Kia to begin expanding Slovakian engine plant – Just-Auto: Hyundai Motor Group’s Kia Motors said it was ready to begin investing an additional EUR70m (US$79m) expanding its engine factory in Slovakia.

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• Americans Return to Car Dealers, Thwarting Expected Shift Online – Bloomberg: Above, a customer peruses a Honda dealership in Southfield, Michigan, on May 26, 2020. Photographer: Emily Elconin/Bloomberg …
• Morgan Stanley Cuts Tesla to Underweight on Growing China Risks – Bloomberg: Morgan Stanley Cuts Tesla to Underweight on Growing China Risks
• Honda resumes production at plants hit by suspected cyber attack – Reuters: Japan’s Honda Motor Co has resumed production at automobile and motorcycle plants in the United States and other countries after they were hit by a suspected cyber attack this week, a spokesman said on Friday.
• Study: GM will lose US market share as it redefines its future – Freep: Study: GM will lose US market share as it redefines its future
• GM declines request to shut down plant as cases of coronavirus grow, union says – Freep: GM declines request to shut down plant as cases of coronavirus grow, union says
• Volkswagen Feud Threatens a $38 Billion Bet – Bloomberg: The German car giant shouldn’t be worrying itself with internal boadroom disputes. It should be taking the electric-car fight to Elon Musk.

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• VW to Revamp Marketing Controls After Uproar Over Racist Video – Bloomberg: VW to Revamp Marketing Controls After Uproar Over Racist Video
• Volkswagen blames lack of staff diversity for racist ad – FT: Volkswagen blames lack of staff diversity for racist ad
• VW board apologises after publication of racist advert – Reuters: Volkswagen’s management board on Thursday apologised for the company’s publication of a racist advert and said the clip was published because of a lack of cultural sensitivity rather than because of racist intentions.
• Fiat-Peugeot merger faces long EU competition probe – Reuters: Fiat Chrysler’s planned merger with Peugeot-maker PSA will face a long EU probe after the pair failed to offer any concessions over competition …
• Ford and Volkswagen firm up ambitious alliance plans – Autocar: Wide-ranging agreement will include new EV, pick-up truck and two vans, with more set to follow …
• Renault nationalisation, state cash injection not on the table – chairman – Reuters: Renault nationalisation, state cash injection not on the table – chairman

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• Ford, Volkswagen to make about 8 mln commercial vehicles – Reuters: Ford Motor Co and Volkswagen AG said on Wednesday they would make up to 8 million units of medium pickup trucks and commercial vans during the lifecycle of the vehicles as part of an alliance announced last year.
• Tesla Loses China Executive Ren Just as Competition Heats Up – Bloomberg: Tesla Loses China Executive Ren Just as Competition Heats Up
• BYD to scale up new ‘blade battery’ production to challenge CATL – Nikkei: BYD to scale up new ‘blade battery’ production to challenge CATL
• Hyundai’s Hydrogen Chief on Why the Auto Giant Bet on Fuel Cells – Bloomberg: Hyundai”s Hydrogen Chief on Why the Auto Giant Bet on Fuel Cells
• Fiat Chrysler plans to resume Panda production on June 16: union – Reuters: Fiat Chrysler (FCA) plans to resume production of its Panda small car at its plant in Pomigliano, near Naples in southern Italy, on June 16, a union representative said on Wednesday.
• Changan Automobile to delay India market entry – Just-Auto: Chinese SUV and electric vehicle maker Changan Automobile is to put back India market entry by a year due to the COVID-19 outbreak and its impact on the Indian market. An analyst also told just-auto that anti-China sentiment is on the increase in India.

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• Honda hit by cyber attack, some production disrupted – Reuters: Honda Motor Co suspended some of its auto and motorcycle production globally as the Japanese car giant grappled with a suspected cyber attack, a spokesman said on Tuesday.
• Volkswagen appoints Ralf Brandstätter as brand CEO – Autocar: COO replaces Herbert Diess, who continues as Group CEO, with appointment countering previous rumo…
• Tesla Wouldn’t Be Tesla Without Stimulus Spending – Bloomberg: Tesla Wouldn”t Be Tesla Without Stimulus Spending
• Men accused of helping ex-Nissan boss flee Japan challenge U.S. extradition case – Reuters: Lawyers for the former Green Beret and son wanted by Japan for helping former Nissan Motor Co boss Carlos Ghosn flee the country on Monday argued U.S. authorities wrongly arrested them for aiding a crime that they say does not exist in Japan: bail jumping.
• Nissan Sunderland restarts vehicle production – Just-Auto: Nissan’s Sunderland plant in north east England has resumed vehicle production after almost three months, with a new Juke B-SUV the first unit off the line.
• Denso opens electrification R&D centre in Japan – Just-Auto: turn
• Hyundai-Kia global EV sales continue to surge – Just-Auto: Hyundai Motor Group announced an almost 58% rise in global sales of electric vehicles in the first five months of 2020, to 40,182 units from 25,454 in the same period of last year.

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