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Top related persons:
Rivian - 1 Joe McCabe - 1 Alex Potter - 1 Piper Sandler - 1
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Georgia
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Volkswagen Group - 1 Volkswagen - 1 AutoForecast Solutions - 1 EV - 1 VW - 1

Search resuls for: "Joe McCabe"


3 mentions found


☆ Why VW investing $5 billion in Rivian might be transformative for both companies — and the auto industry
  + stars: | 2024-09-12 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +2 min
Electric truck maker Rivian's $5 billion deal with Volkswagen Group nets Rivian some much-needed cash. But it also gives Volkswagen a path to a future in the auto industry it has struggled to gain on its own. As of the second quarter, Rivian was losing somewhere around $1.5 billion per quarter — or about $30,000 to $43,000 on every truck it sold in the past five quarters. Financial strain and instability in the EV market and the broader economy have led to multiple rounds of layoffs at Rivian. But there are still challenges: Automotive history is littered with failed partnerships, Rivian and VW are still competitors, and the EV transition has proven rockier than many forecasters had expected.
Persons: Rivian, Joe McCabe, Alex Potter, Piper Sandler Organizations: Volkswagen Group, Volkswagen, AutoForecast Solutions, EV, VW Locations: Georgia
☆ Electric vehicles confront the leap to the mass market
  + stars: | 2022-12-15 | by ( Joseph White | ) www.reuters.com   time to read: +4 min
Industry executives and forecasters do not agree on how rapidly electric vehicles could take over half the global vehicle market, let alone all of it. In China, the world's largest single automotive market, battery electric vehicles have captured about 21% of the market. By 2029, electric vehicles could account for a third of the North American market, and about 26% of vehicles produced worldwide, according to AutoForecast Solutions, a consultancy. Electric vehicle sales likely will not increase in a smooth, ever-ascending curve, said AFS President Joe McCabe. The next few years will determine whether the 21st Century's crop of electric vehicle brands will follow a similar path.
☆ Auto suppliers feel the green squeeze as carmakers get clean
  + stars: | 2022-09-26 | by ( Nick Carey Victoria Waldersee Giulio Piovaccari | Nick Carey | Victoria Waldersee | ) www.reuters.com   time to read: +7 min
Gareth Kaminski-Cook, CEO of Autins, which makes noise-reducing and thermal insulation for carmakers, gives a tour of the auto supplier's factory in Tamworth, Britain, May 3, 2022. Many auto suppliers, already squeezed by rampant inflation and energy prices, say they have little choice but to shoulder the extra costs of making their components sustainable to meet carmakers' environmental targets. "We're going to see a real big shakeout the next five, 10 years in the auto supply chain." The company, which is worth about $39 billion, launched its own sustainability drive in 2020 and is working on recyclable products with carmakers including Volkswagen, Volvo and BMW. Guell says carmakers only want to work with suppliers who use green energy, leaving him in a tight spot.
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