DIRS.INFO The most relevant business & tech news

☆ BMW says diversifying risks does not mean it is leaving China
▼ + stars: | 2023-10-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

WUHAN, CHINA - MAY 25: (CHINA OUT) Attendees wear protective masks as they look around the at BMW Ix3 during 2023 Central China International Auto Show on May 25, 2023 in Wuhan, Hubei province, China. More than 80 brands took part in the 2023 Central China International Auto Show which started on Thursday. (Photo by Getty Images)German automaker BMW Group said that diversifying its supply chains away from China does not mean it is leaving the country completely. "Especially the BMW Vision Neue Klasse, it will not be a small volume. BMW is not leaving China, he said, adding that free trade is "fundamental to our business model."

Persons: Oliver Zipse, CNBC's Martin Soong, Annalena Baerbock Organizations: BMW Ix3, China International, Getty Images, BMW Group, BMW, Neue, Japan, Neue Klasse, Tesla Locations: WUHAN, CHINA, Wuhan, Hubei province, China, Germany

☆ We're not leaving China, BMW Group says
▼ + stars: | 2023-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're not leaving China, BMW Group saysOliver Zipse, CEO of BMW Group, says diversifying risk doesn't mean leaving a country or region, adding that free trade is "fundamental to our business model."

Persons: Oliver Zipse Organizations: BMW Group Locations: China

☆ The 20 companies engineering students around the world most want to work for
▼ + stars: | 2023-10-11 | by ( Madison Hoff | ) www.businessinsider.com time to read: +1 min

Google was one of the companies in the top 20 that didn't move spots from where it stood last year. AdvertisementAdvertisementSome engineering students would most like to work for Google, Microsoft, or BMW Group. Engineering students and other students part of the analysis responded with the employers they would most like to work for. Johnson & Johnson, Intel, and Apple are three of the companies that were part of the 2023 list's of the top 20 employers for engineering students. AdvertisementAdvertisementBelow are the most attractive employers based on responses from engineering students.

Persons: Universum, —, Johnson Organizations: Boeing, Tesla, GE, Google, Service, Microsoft, BMW Group, Engineering, Intel, Apple, Industries Locations: China, Universum

☆ Carbon accounting startup Plan A just raised $27 million in a round led by Lightspeed Venture Partners with this 11-slide pitch deck
▼ + stars: | 2023-09-19 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Carbon accounting startup Plan A has just secured $27 million in a round led by Californian tech investor Lightspeed Venture Partners. Berlin-based Plan A, founded in 2017, is one of many startups helping big companies measure and manage their carbon emissions. Carbon accounting companies raised $5 billion at the sector's 2021 peak, per PitchBook, as venture capitalists and large asset managers piled into the buzzy category. One way Plan A differentiates itself is its steady pace, cofounder and CEO Lubomila Jordanova told Insider. Operating in a hype market can be tricky because it deflates the value of carbon accounting in the long term, she said.

Persons: Lubomila Jordanova, Jordanova Organizations: Lightspeed Venture Partners, Visa, Deutsche Bank, Opera Tech Ventures, BNP, BMW, BMW Group, Greenhouse, TÜV Rheinland Locations: Berlin, Europe, France, Scandinavia, Paris, London

The company's leaders put all their chips behind a new car they called the "Neue Klasse," or "new class." Now, BMW is at another crossroads, and is turning again to a "Neue Klasse" to drive a new strategic direction. Neue Klasse vehicles will be powered by 48-millimeter-diameter cylindrical batteries in different lengths. The Neue Klasse is targeting a 50% reduction in battery pack costs and 25% more range per kilowatt-hour, a measure of efficiency, executives said. Neue Klasse vehicles will have four "super brains," to control propulsion, driver assistance systems, infotainment and other functions, Weber said.

Persons: trailblazer Tesla, Adrian van Hooydonk, that’s, Frank Weber, Tesla, Oliver Zipse, Evangelos Simoudis, Weber, Mercedes, Stephan Durach, Durach, Joe White, Mark Potter Organizations: Neue, Reuters, BMW, REUTERS, Rights, trailblazer, Volkswagen, Mercedes, Benz, Neue Klasse, Munich, Klasse, chipmaker Qualcomm, Thomson Locations: Munich, Germany, Detroit, Hungary, Silicon

That is by far the most ever spent on clean energy in a year. Solar and Wind Power Have Taken Off Electricity generation per year, in terawatt hours China 600 TWh 500 Solar Wind U.S. China 400 E.U. It would shred regulations designed to curb greenhouse gases, dismantle nearly every federal clean energy program and boost the production of fossil fuels. 1 2 3 4 5 Even Tulsa, with its strong links to oil and gas, is embracing clean energy. “But we also understand that energy is energy, whether it is generated by wind, steam or whatever it might be.”Around the country, clean energy is taking root in unlikely locales.

Persons: ”, Fatih Birol, Al Gore, Crews, Francis Energy, Dewey, Bartlett Jr, “, J.W, Peters, Mr, Lazard, Gregory Nemet, —, Biden, Tesla, Giovanni Bertolino, Jon Creyts, Steve Uerling’s, Uerling, Cathy Zoi, It’s, Mary Barra, ’, Barra Organizations: Buses, Port, International Energy Agency, India India, Energy, The New York Times, Heritage Foundation, Republican, Ford, University of Tulsa’s School of Petroleum Engineering, “ Oil, Drillers, Navistar, Public Service Company of Oklahoma, Francis, Solar Power, U.S . Steel, Gas, University of Wisconsin -, Panasonic, United, European Union, United States ’, General Motors, RMI, Ford Fusion, Tesla, Postal Service, Amazon, Peterbilt, Companies, Francis Energy, BMW Group, Honda, Hyundai, Kia, Benz Group Locations: Pittsburgh, Milwaukee, Port of Los Angeles, Houston, Europe, United States, America, China, Britain, terawatt, India, U.S, States, Beijing, London, Tokyo, Washington, Oslo, Dubai, Tulsa, Okla, Italian, Oklahoma, Oklahoma City, Texas, Galveston, In Arkansas, Republican, University of Wisconsin - Madison, Georgia, Korean, Nevada, tailpipes, California, New York, San Francisco, Canada, South Korea, Russia, Ukraine, Steve Uerling’s Tulsa, E.U, G.M

☆ Seven major automakers, including GM and
▼ + stars: | 2023-07-26 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Seven major automakers are coming together to create a joint venture that will build out a large electric vehicle fast-charging network in the North America, in an attempt to make electric vehicles more attractive to consumers. The first of the new charging stations will open next summer, the companies announced, first in the US and, later, in Canada. Vehicles made by other manufacturers, not just these seven, will be able to charge at these stations, as well. The new joint venture will rely on funds from the automakers as well as using grants offered by the federal government to build new EV chargers. There are currently about 35,000 NACS and CCS chargers in the US, but many more will be needed as the number of electric vehicles increases in coming years.

Persons: “, Mary Barra, Brian Moody, Biden Organizations: CNN, Seven, Motors, BMW Group, Honda, Hyundai, Kia, Benz, GM, Cox, Vehicles, Mercedes, US Department of Energy, National Renewable Energy Laboratory Locations: North America, United States, Canada

☆ G.M. and Other Automakers Will Build 30,000 Electric Vehicle Chargers
▼ + stars: | 2023-07-26 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: +1 min

Seven major automakers announced a plan on Wednesday to nearly double the number of fast chargers in the United States in an effort to address one of the main reasons that people hesitate to buy electric cars. The carmakers — BMW Group, General Motors, Honda, Hyundai, Kia, Mercedes-Benz Group and Stellantis — will initially invest at least $1 billion in a joint venture that will build 30,000 chargers on major highways and other locations in the United States and Canada. The United States has about 32,000 fast chargers — those that can replenish a drained battery in 10 to 30 minutes. Surveys show that fear about not being able to find a charger is a major reason that car buyers are reluctant to buy electric vehicles. Sales of electric vehicles have risen quickly in the United States, but there are signs that demand is softening.

Persons: Stellantis — Organizations: BMW Group, General Motors, Honda, Hyundai, Kia, Benz Group, United, Ford Locations: United States, Canada

But self-driving cars powered by AI are not the only change — AI technology is already being infused into vehicle production. CNBCFurther down the line, AI technology checks to ensure every stud is precisely placed, according to BMW Group Manager Curtis Tingle. A BMW worker at the AI Stud Correction Station. CNBCAccording to Tingle, the AI stud correction laser has already saved the company more than $1 million a year. BMW told CNBC the AI technology is patent pending and was developed inside the Spartanburg plant.

Persons: Curtis Tingle, Tingle, Camille Roberts, Roberts Organizations: BMW Group, CNBC, BMW, BMW Group's, cnbc Locations: BMW'S, Spartanburg, South Carolina, U.S

☆ Behind the A.I. tech making BMW vehicle assembly more efficient
▼ + stars: | 2023-07-21 | by ( ) www.cnbc.com time to read: 1 min

In recent years, BMW Group upgraded its Spartanburg, South Carolina, plant to include new AI capabilities. The factory spans more than 8 million square feet and produces about 60% of all BMWs sold in the U.S. That works out to more than 1,500 vehicles produced daily. And the A.I. tech is already saving the automaker millions.

Organizations: BMW Group Locations: Spartanburg, South Carolina, U.S

☆ Stellantis warns UK risks exodus of EV production under post-Brexit rules
▼ + stars: | 2023-05-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Stellantis manufactures Vauxhall, Fiat, Opel and other vehicles across two plants in the U.K., employing more than 5,000 people. It plans to move both toward majority and then 100% EV production as it rolls out electrification across its brands. "If the cost of EV manufacturing in the U.K. becomes uncompetitive and unsustainable, operations will close," it said, citing previous decisions by BMW Group to relocate electric Mini production to China, and investments by Honda in EV production in the U.S. following the closure of its U.K. site. However, they will become progressively stricter in the coming years, rising to 45% and then 65% in terms of required domestic production. The company warned the U.K. does not have a sufficient supply of the materials needed to support vehicle battery production.

☆ BMW’s Mini apologizes after meltdown over ice cream at Shanghai auto show
▼ + stars: | 2023-04-21 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —BMW has landed in hot water in China over tubs of ice cream. The luxury German automaker’s Mini Cooper unit had to apologize repeatedly after being accused of discrimination against Chinese visitors when handing out free ice cream at the Shanghai auto show this week. Reserved for staffOn Friday morning, Mini China issued another apology, saying the Westerners in the videos who got the ice cream were its staff members. The company said it handed out 300 tubs of ice cream per day to visitors at its booth on Tuesday and Wednesday. It called for the public to be more understanding of the two female Chinese workers who handed out the ice cream, saying they were young and inexperienced.

☆ BMW on track for 2023 target despite slight Q1 sales fall
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] An electric-powered BMW iX xDrive 50 car is seen during a media preview at the Auto Zurich Car Show in Zurich, Switzerland November 3, 2021. By region, BMW only saw sales growth in the United States, with an 11.4% increase to 89,750 car sales. BMW remained confident about its 2023 guidance despite a "challenging business environment", the company said in a statement. "The BMW Group is on track for slight sales growth in the full year 2023," said Pieter Nota, management board member responsible for customer, brands and sales. Electric vehicle sales in BMW's core brand more than doubled in Q1 year on year to 55,979 units.

☆ BMW sales fall slightly in Q1
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: 1 min

Companies Bayerische Motoren Werke AG FollowApril 11 (Reuters) - BMW (BMWG.DE) delivered 588,138 vehicles in the first quarter of this year, down 1.5% on the previous year, the German carmaker said on Tuesday. Electric vehicle sales rose 83.2% year-on-year to 64,647, it added. "The BMW Group is on track for slight sales growth in the full year 2023," said Pieter Nota, management board member for customer, brands and sales. "The main growth drivers in 2023 will be fully-electric vehicles and models from the high-end premium segment," he added. Reporting by Andrey Sychev, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ Ford and GM follow Tesla's lead and wade into China price war by offering big discounts to boost sales, report says
▼ + stars: | 2023-03-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Ford and GM are among dozens of carmakers offering deep discounts on cars in China to boost sales. Tesla was among the first to slash its prices after China ended its electric vehicle subsidies. Tesla was one of the first carmakers to cut prices in the US and Europe as well as China. In January it cut US prices of the Model 3 sedan by 14% and Model Y by 20%. It then lowered prices this month on the Model S sedan by $5,000 and its Model X by $10,000.

☆ Ford, GM Engage in China Price War as Car Sales Slump
▼ + stars: | 2023-03-17 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

Ford has cut about $6,000 off its Mustang Mach-E until the end of April, according to online sales promotions. HONG KONG—Auto makers and dealerships in China are slashing prices after the lifting of pandemic controls failed to reverse slumping demand in the world’s largest car market. Companies including Ford Motor Co., BMW Group and Volkswagen AG are offering deep discounts and promotions on electric vehicles after China phased out its nationwide subsidies for EVs. Others including General Motors Co. and the maker of Citroën are slashing prices on their gas-powered cars.

☆ BMW expects higher margin and deliveries in 2023 amid electric rollout
▼ + stars: | 2023-03-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

German automaker BMW on Wednesday set out targets to slightly increase margins for its automotive segment and raise deliveries this year, as it pushes ahead with the rollout of its electric fleet. The company said it expects an EBIT (earnings before interest and taxes) margin of between 8-10% for its automotive range in 2023, with deliveries set to rise slightly from 2022 and "selling prices remaining at a stable level." It forecasts the used car market will normalize this year "due to the increased availability of new cars." Like rivals, BMW has been contending with global semiconductor shortages and supply chain disruptions, challenging it to fulfil its book order. The company confirmed the full-year 2022 results reported last week, including an EBIT of 10.6 billion euros ($11.4 billion) for its automotive segment, which had an.

☆ BMW launches demonstration fleet of hydrogen cars that use fuel cells from Toyota
▼ + stars: | 2023-02-27 | by ( Anmar Frangoul | ) www.cnbc.com time to read: 1 min

The BMW Group on Monday launched a pilot fleet of hydrogen vehicles, with the German automotive giant's CEO referring to hydrogen as "the missing piece in the jigsaw when it comes to emission-free mobility." The BMW iX5 Hydrogen, which uses fuel cells sourced from Toyota and has a top speed of more than 112 miles per hour, is being put together at a facility in Munich. The car stores hydrogen in two tanks and can be filled up in three to four minutes. BMW says it has a range of 313 miles in the Worldwide Harmonised Light Vehicle Test Procedure, or WLTP cycle. It will enter service in 2023, although the scale of the rollout is small, with a fleet of "under 100 vehicles" set to be "employed internationally for demonstration and trial purposes for various target groups."

☆ Rio Tinto enters agreement with BMW to provide hydro-produced aluminum
▼ + stars: | 2023-02-21 | by ( Stephen Culp | ) www.reuters.com time to read: +1 min

[1/2] A BMW car logo is displayed during a media tour at the plant of German automaker BMW in San Luis Potosi, Mexico, February 3, 2023. REUTERS/Toya Sarno Jordan/File PhotoNEW YORK, Feb 21 (Reuters) - Rio Tinto on Tuesday said it would supply BMW with aluminum it produces in Canada using hydroelectric power, lowering the auto manufacturer's carbon footprint with respect to its procurement of the automotive metal. The UK-based mining company and the German automaker announced in separate statements that they had signed a memorandum of understanding (MOU) for Rio Tinto's hydro-powered operations in Canada to provide a BMW production plant in Spartanburg, South Carolina, with an unspecified amount of aluminum starting in 2024 -- a move that "could generate a reduction of up to 70 percent in CO2 emissions compared to the BMW Group's benchmark for aluminum," according to Rio Tinto. "The agreement to supply low-carbon aluminium" is also aimed at "ramping up our use of aluminium with no direct CO2 emissions from the smelting process," wrote Joachim Post, member of the Board of Management of BMW AG, which is responsible for its purchasing and supplier network. Reporting by Stephen Culp; Additional reporting by Ernest Scheyder; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Carmaker BMW to invest around $870 mln in Mexico in EV push
▼ + stars: | 2023-02-03 | by ( Kylie Madry | ) www.reuters.com time to read: +2 min

[1/4] Milan Nedeljkovic, BMW’s head of production, and Harald Gottsche, President and CEO at BMW Group Plant San Luis Potosi, shake hands during the announcement of a multimillion dollar expansion at the plant of German automaker BMW in San Luis Potosi, Mexico February 3, 2023. REUTERS/Toya Sarno JordanSAN LUIS POTOSI, Mexico, Feb 3 (Reuters) - German automaker BMW (BMWG.DE) will invest 800 million euros ($866 million) in the central Mexican state of San Luis Potosi to produce high-voltage batteries and fully electric "Neue Klasse" models, the carmaker said Friday. Gottsche added the Mexico plant was in the process of increasing its solar production on-site and swapping out natural gas for biomethane. Mexico has also increasingly made the push for EVs as it looks to turn half of auto production electric by 2030. ($1 = 0.9236 euros)Reporting by Kylie Madry in Mexico City; Additional reporting by Toya Sarno Jordan in San Luis Potosi; Editing by Chizu Nomiyama and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ These are the 11 cheapest electric cars you can buy in 2023
▼ + stars: | 2023-01-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +6 min

We've found the 11 cheapest new EVs you can buy in 2023. Chevrolet Bolt EVThe 2023 Chevrolet Bolt EV. ChevroletRetail price: $27,800EPA-estimated range: 247 milesQualifies for EV tax creditChevy recently introduced a big brother for the Bolt EV, the Bolt EUV. MazdaRetail price: $34,110EPA-estimated range: 100 milesMazda's first electric model disappoints in the all-important range department. KiaRetail price: $39,550EPA-estimated range: 253 milesThe Kia Niro gets bold new looks for the 2023 model year.

☆ Mercedes-Benz sells 2.05 million passenger cars in 2022
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 10 (Reuters) - Mercedes-Benz (MBGn.DE) delivered 2.05 million passenger cars in 2022, the company said on Tuesday, down 1% on the previous year as the carmaker felt the impact of COVID-19 measures and bottlenecks. Still, fourth-quarter sales rose 17% as logistics and supply chain bottlenecks eased, and battery-electric sales grew 124% over the course of the year to 117,800 units. Demand for the carmaker's high-end Maybach vehicles was particularly strong, with 2022 sales up 37% year-on-year driven by higher sales in China, Japan, Korea and the Middle East. The only key region to see a year-on-year fall in sales was China, with a 1% drop, according to Tuesday's data. Entry-level vehicles, the lowest price segment, saw a 10% sales drop primarily due to supply chain bottlenecks, the carmaker said.

☆ BMW brand delivers 2.1 million vehicles in 2022
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Jan 10 (Reuters) - The BMW (BMWG.DE) brand delivered 2.1 million vehicles in 2022, down 5.1% from the previous year, but still maintained its number one position in the global premium segment, the company said on Tuesday. The BMW Group delivered 2.4 million vehicles, a 4.8% decrease from last year. The Group was able to more than double the sales of fully-electric vehicles to 215,755 units. "We are confident we can build on this success in 2023, as we continue to see particularly high order intake for our fully-electric models," said Pieter Nota, member of the board of management of BMW AG responsible for customer, brands and sales. Writing by Miranda Murray, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ BMW sales dip in 2022, targets 15% battery-electric sales this year
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Jan 4 (Reuters) - The BMW Group (BMWG.DE) sold around 100,000 fewer cars in 2022 at 2.4 million vehicles, but more than doubled the proportion of fully-electric cars sold to reach almost 10% of total sales, a spokesperson said on Wednesday. The German automaker plans to raise the share of battery electric vehicles in total sales to 15% in 2023, the person added. The core BMW brand sold 2.1 million vehicles last year, down from a record 2.2 million in 2021, as COVID-19 lockdowns in China stymied supply and European inflation weighed on demand. Still, BMW has so far offset the dip in sales volumes with higher prices, with third-quarter profits rising in 2022. The carmaker will report full 2022 sales figures on Jan. 10.

☆ BMW fined by UK watchdog over information request
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] BMW logo is seen on a vehicle at the BMW manufacturing plant in Greer, South Carolina, U.S., October 19, 2022. REUTERS/Bob Strong/File PhotoDec 8 (Reuters) - The UK's anti-trust regulator fined German luxury carmaker BMW (BMWG.DE) 30,000 pounds ($36,519) plus a further daily penalty of 15,000 pounds on Thursday over a disputed information request related to an ongoing auto industry probe. BMW said in March it would respond to regulators' information requests but the CMA said that while the company's British unit had provided information, "the wider BMW Group has failed to comply fully with the CMA's legal request, and has claimed the CMA does not have jurisdiction." BMW said in an emailed statement that the "CMA does not have the legal power to compel foreign companies to produce documents held entirely outside the UK jurisdiction". The CMA said the daily penalty will continue to accumulate until BMW provides the requested information, or the watchdog issues an infringement decision, or closes the case.

Search resuls for: "BMW Group"

25 mentions found