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3 mentions found


☆ Focus: BMW bets on a 'Neue Klasse' revival to catch Tesla
  + stars: | 2023-09-02 | by ( Joseph White | Thomson Reuters | Joe White Is A Global Automotive Correspondent For Reuters | ) www.reuters.com   time to read: +6 min
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
☆ Analysis: Elon Musk pins hopes on full self-driving as Tesla's next profit driver
  + stars: | 2023-04-20 | by ( Hyunjoo Jin Akash Sriram | Hyunjoo Jin | Akash Sriram | ) www.reuters.com   time to read: +5 min
"The Tesla bull case has centered around the company's growth goals, which it is failing to meet." Tesla's stock is trading at about 43 times expected earnings, down from astronomical levels above 200 times in 2021, according to Refinitiv data. Tesla on Wednesday doubled down on the price war it started at the end of last year, as Musk said the company would prioritize sales growth ahead of profit. In the first quarter, Tesla posted its lowest quarterly gross profit margin in two years. You're investing in Elon Musk," said Kim Forrest, chief investment officer of Bokeh Capital Partners.
☆ Analysis: Ford, VW pop the automated-vehicle bubble with Argo AI exit
  + stars: | 2022-10-26 | by ( Paul Lienert | ) www.reuters.com   time to read: +4 min
DETROIT, Oct 26 (Reuters) - The road map to fully self-driving vehicles is being rewritten once again, this time by Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE). VW also bought Argo shares from Ford for $500 million. Ford previously injected $1 billion into Argo when it bought control of the company in 2017. Before it acquired the stake in Argo, VW flirted with at least two other U.S.-based self-driving startups: Alphabet Inc's (GOOGL.O) Waymo and Aurora Innovation (AUR.O). VW reportedly considered a $13.7 billion investment in 2018 in Waymo for a 10% stake that would have valued Waymo at $137 billion.
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