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☆ GM to take equity stake in Australian mining company
▼ + stars: | 2022-10-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

GM said the investment will help support electric-vehicle eligibility for consumer incentives under new, clean energy U.S. tax credits. GM said the nickel laterite ore is expected to be processed using a new, proprietary process that helps reduce waste. Register now for FREE unlimited access to Reuters.com RegisterThe GM investment is to assist in the development of its proposed Townsville Energy Chemicals Hub (TECH) Project in Northern Australia. High-grade nickel laterite ore will be imported from nearby New Caledonia, GM said. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Shepardson; editing by Jonathan Oatis and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Honda to build JV U.S. battery plant, retool Ohio plants
▼ + stars: | 2022-10-11 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Athit PerawongmethaWASHINGTON, Oct 11 (Reuters) - Honda Motor Co Ltd (7267.T) and LG Energy Solution (373220.KS) on Tuesday announced Ohio as the site of their planned $4.4 billion joint-venture battery plant. Honda will separately invest $700 million to retool three Ohio plants and add 300 new jobs, as it seeks higher electric- vehicle production. The plant is the latest in a string of battery plants announced as automakers race to shift gas-powered production to electric vehicles. President Joe Biden praised the Honda-LG announcement, saying the companies were "committing more than $5 billion toward electric vehicle battery manufacturing and factory retooling across the state." Honda plans to begin production and sales of EVs in North America in 2026, based on its new Honda e:Architecture.

☆ GM takes on Tesla in home and commercial energy storage, management
▼ + stars: | 2022-10-11 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

REUTERS/Kevin Lamarque/File PhotoDETROIT, Oct 11 (Reuters) - General Motors Co (GM.N) is expanding beyond car making, with plans to offer energy storage and management services to residential and commercial customers through its new GM Energy unit in a move that puts it in even greater competition with Tesla Inc (TSLA.O). "We're getting into the entire ecosystem of energy management," GM executive Travis Hester said in an interview. Hester said GM sees a total addressable market of $120 billion to $150 billion in energy storage and management. He declined to provide a revenue projection for GM Energy. GM's commercial service will offer similar capability to businesses, through larger stationary storage units as well as microgrids connected to hydrogen fuel cells developed by the automaker.

☆ Amazon.com to invest over 1 billion euros in European electric van, truck fleet
▼ + stars: | 2022-10-09 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, Oct 10 (Reuters) - Amazon.com Inc (AMZN.O) said on Monday it will invest more than 1 billion euros ($974.8 million) over the next five years in electric vans, trucks and low-emission package hubs across Europe, accelerating its drive to achieve net-zero carbon. The retailer said the investment was also aimed at spurring innovation across the transportation industry and encouraging more public charging infrastructure for electric vehicles (EVs). The U.S. online retailer said the investment would help its electric van fleet in Europe more than triple from 3,000 vehicles to more than 10,000 by 2025. Amazon said it also hopes to purchase more than 1,500 electric heavy goods vehicles - used for "middle-mile" shipments to package hubs - in the coming years. The retailer said it will also invest in doubling its European network of "micro-mobility" hubs from more than 20 cities today.

☆ GM Sustainability Chief Discusses Auto Maker’s Push to an All-Electric Lineup
▼ + stars: | 2022-09-28 | by ( Dieter Holger | ) www.wsj.com time to read: 1 min

General Motors Co. ’s plan to only sell electric vehicles by 2035 underscores how addressing climate change can create not just business opportunities, but a new set of challenges to work through as well. Electric vehicles hold the promise of driving down greenhouse-gas emissions in transportation, which the United Nations says accounts for around a quarter of energy-related emissions. A 2022 study from the University of Michigan said that for sedans, SUVs and pickup trucks, battery-electric vehicles have about 64% lower greenhouse-gas emissions over their life cycle than internal-combustion-engine vehicles on average across the U.S.

☆ Ford, GM upgrade their heavy-duty pickup profit machines
▼ + stars: | 2022-09-28 | by ( Joseph White | ) www.reuters.com time to read: +3 min

Ford said the Super Duty franchise generates "more revenue than many Fortune 500 companies, including Southwest Airlines, Marriott International or Nordstrom." Heavy-duty pickups such as the Super Duty and Silverado HD do dirty work in oil fields and on construction sites. Ford on Tuesday unveiled the latest generation of the Super Duty at Churchill Downs racetrack in Louisville, Kentucky, not far from the factory where most Super Duty trucks are built. read moreOne day ahead of Ford's Super Duty reveal, Chevrolet outlined a list of improvements to its Silverado HD heavy pickup line, which trails the Super Duty in sales. Chevrolet said it will now offer only a 10-speed Allison transmission on its heavy duty Silverado trucks.

☆ GM delays return-to-work plans to 2023
▼ + stars: | 2022-09-27 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

The U.S. automaker told employees who have been working remotely that it does "not plan to mandate which days of the week will be collaboration days. GM on Friday had cited the dramatic improvement in the COVID landscape for the change "to drive the best collaboration, enterprise mindset and impact." We intend to spend the next few weeks continuing to listen to your feedback so that we incorporate it into our implementation plans." Thousands of GM workers including hourly workers assembling cars have continued in-person work during COVID-19. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Shepardson; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ Hertz ties up with BP for EV charger installations in North America
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterSignage is seen at Hertz rental car at John F. Kennedy International Airport in Queens, New York City, U.S., March 30, 2022. REUTERS/Andrew Kelly/File PhotoSept 27 (Reuters) - Hertz Global Holdings Inc (HTZ.O) said on Tuesday it has partnered with a unit of oil giant BP to install electric vehicle (EV) charging stations across North America to power its fleet of eco-friendly cars. It has laid out plans to have 3,000 charging stations in North America by the end of 2022. Register now for FREE unlimited access to Reuters.com RegisterAs per the deal, bp pulse will manage the EV charging hubs, which will be open to Hertz customers as well as the general public. Register now for FREE unlimited access to Reuters.com RegisterReporting by Priyamvada C in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Qualcomm CFO Focuses on Investing in Budding Automotive Business
▼ + stars: | 2022-09-27 | by ( Mark Maurer | Qualcomm Cfo Akash Palkhiwala | ) www.wsj.com time to read: +6 min

The company estimated $1.3 billion in auto revenue for the fiscal year ended Sunday, up 33% from the prior year. Ninety percent of Qualcomm’s auto-related revenue forecast through 2026 is based on existing design wins from across the business line, Mr. Palkhiwala said. “It’s a business that’s important to us,” Mr. Palkhiwala said about the auto-chips division. Like Qualcomm, chip companies such as Intel Corp. and Nvidia Corp. are wading deeper into the auto market. Nvidia reported $566 million in revenue for its auto business in the year ended in January, up 5.6% from the prior-year period.

☆ Waymo Fills Finance Chief Role as Autonomous-Vehicle Company Looks to Expand
▼ + stars: | 2022-09-23 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +3 min

Waymo LLC hired a new finance chief as the autonomous-vehicle company works to boost self-driving capabilities and expand in multiple regions. The Mountain View, Calif.-based company, a subsidiary of Google parent Alphabet Inc., on Friday said it named Elisa de Martel as chief financial officer. The company’s interim head of finance and its controller have covered the company’s finances while Waymo looked for a permanent CFO, according to a spokeswoman. Two months earlier, Waymo’s biggest competitor— General Motors Co. subsidiary Cruise—began offering driverless rides to the public in San Francisco. Waymo since 2017 also has tested its driverless technology in semitrucks.

☆ GM to invest $760 million to shift Ohio plant to EV-part production
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca CookToledo, OHIO/WASHINGTON, Sept 23 (Reuters) - General Motors Co (GM.N) said Friday it will invest $760 million at its Toledo, Ohio factory to build drive units for electric trucks, the automaker's first U.S. powertrain facility repurposed for EV-related production. Congress in August approved significant financial incentives for automakers to convert plants producing parts for gasoline-pore vehicles to electric models. Many autoworkers have expressed concerns about the shift to EVs and if it would impact current auto employment. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Shepardson and Joseph White Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

☆ Ford Supply-Chain Leadership Overhaul Reflects EV Ramp Up
▼ + stars: | 2022-09-22 | by ( Liz Young | Kristin Broughton | ) www.wsj.com time to read: +4 min

Ford Motor Co.’s moves to overhaul its supply-chain leadership reflect the increasingly crucial role technology is playing as the development of electric vehicles is transforming the way cars are produced. Ford said the company is seeking to align operations from sourcing and assembly to distribution with a goal of transitioning to EVs. Ford also plans to name its first chief supply-chain officer. It had sold more than 36,500 electric vehicles year-to-date through August. Ford has been working on building closer ties with its suppliers for years, but pandemic-related supply-chain snarls have made it a more urgent priority, the company spokesman said.

An assembly worker of Ford Motor works on the 40 millionth Ford Motor F-series pickup truck at the Dearborn Truck Plant in Dearborn, Michigan, U.S., January 26, 2022. REUTERS/Rebecca Cook/File PhotoDETROIT, Sept 21 (Reuters) - Automotive industry suppliers are raising prices to their customers across the board, not just with Ford Motor Co(F.N), which warned this week it was taking a $1 billion inflationary cost hit. Several suppliers said Ford isn't suffering alone, as automakers across the board are being asked to shoulder more of the burden suppliers have faced from spiking energy, labor and raw material costs. Suppliers contacted by Reuters said they have raised prices on parts in the range of 7% to 20%. Many suppliers can't move fast enough, offering trailing contracts that leave them squeezing costs and accepting lower profit margins when prices spike.

☆ Analysis: Rally in U.S. consumer stocks teeters with Fed, inflation in focus
▼ + stars: | 2022-09-21 | by ( David Randall | ) www.reuters.com time to read: +5 min

read moreRegister now for FREE unlimited access to Reuters.com RegisterThe gains in the consumer discretionary sector may prove fleeting. read moreStill, some investors believe inflation and growth woes may already be largely reflected in many consumer discretionary shares. "But we're seeing a lot of consumer stocks that we think will hold up and come out of this in a better position." Consumer stocks are rallying despite looming Fed hikes. Global fund managers have remained bearish on consumer discretionary stocks despite recent gains, with nearly 25% of those surveyed by BofA Global Research this month underweight the sector - the most of any group.

"It's an enormous first step," Carlisle said, adding that GM is in talks about similar deals with other rental car companies. read moreAutomakers have cut reliance on low-profit, bulk sales to rental car agencies as supply chain problems curtailed production. Carlisle said GM expects to deliver electric vehicles to Hertz at close to retail profit margins. The first GM electric vehicles to ship to Hertz will be Chevrolet Bolt models starting early next year, Carlisle said. GM expects Hertz to deploy many of its EVs in Los Angeles and San Francisco, helping to meet California electric vehicle quotas.

☆ Ford shares fall 10% on warning of higher inflation-related supply costs
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. "The inflationary costs are concerning as they could persist into Q4 and 2023," Wells Fargo analyst Colin Langan said. It was unclear if chip and parts supply will normalize by the end of the year, Deutsche Bank's Rosner said. Ford's shares were trading at $13.52, with the stock on track for the worst day since February if losses hold. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kannaki Deka in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ GM to launch electrified version of Corvette sports car by next year
▼ + stars: | 2022-04-25 | by ( ) www.reuters.com time to read: 1 min

April 25 (Reuters) - General Motors Co (GM.N) President Mark Reuss said on Monday the automaker would launch an electrified version of its two-door Corvette sports car as soon as next year. The company will launch an electrified version of the Corvette, which will be followed by an all-electric version using GM's Ultium battery technology, Reuss said on LinkedIn. His comments about launching an electric Corvette were aired earlier on an interview with CNBC. GM's Corvette that has traditionally been fitted with petrol engines, races to keep up with other competitors in the space, such as Ferrari NV (RACE.MI), which offer gasoline-electric hybrid and turbocharged engines. Reporting by Nathan Gomes in Bengaluru; Editing by Amy Caren DanielOur Standards: The Thomson Reuters Trust Principles.

As for Ford, which reports results on Wednesday, Evercore said it expects a cut to the 2022 outlook. GM and Ford both must manage the costs of launching new electric vehicles. Ford will officially launch regular production of its electric F-150 Lightning pickup on Tuesday. In the United States, GM's sales for the first quarter fell by 20%. Ford's U.S. sales fell by 17% in the first quarter compared with a year ago.

☆ Magna-LG Mexican plant to supply components for GM electric vehicles
▼ + stars: | 2022-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - Magna International and LG Electronics are constructing a factory in the Mexican city of Ramos Airzpe that will supply electric vehicle components to General Motors Co, starting in 2023. The plant, which is being built by the LG Magna e-Powertrain joint venture, will make EV motors, inverters and on-board chargers. GM said a year ago that it planned to invest more than $1 billion in its Ramos Arizpe assembly plant, which will begin building EVs in 2023. The automaker has not said where it plans to build the new electric versions of those vehicles, which are due to begin production in 2023. LG Magna e-Powertrain said its new facility will be the joint venture's first production base in North America and is expected to create 400 jobs.

☆ Elon Musk, cel mai bogat om de pe planetă. Ce avere are miliardarul
▼ + stars: | 2021-01-08 | by ( Onixmedia Srl | ) diez.md time to read: +2 min

„Titlul de cel mai bogat om din lume vine după 12 luni de creștere extrordinară pentru Musk. Pe parcursul ultimului an averea sa a crescut cu peste 150 de miliarde de dolari, în ceea ce a fost probabil cea mai rapidă creare de avere din istorie. Saltul înregistrat de cotația acțiunilor Tesla face ca valoarea de piață a acestei companii să fie la ani lumină față de cea a altor producători auto. În vârstă de 49 de ani, Elon Musk a profitat de creșterea spectaculoasă a acțiunilor Tesla în mai multe feluri. Pe lângă participaţia sa de 20 % din acțiunile Tesla, Elon Musk deține și opțiuni cu acțiuni la compania pe care a fondat-o.

Persons: Tesla, Musk, Amazon.com, Jeff, Elon Musk, Jeff Bezos Organizations: Ford, Co, General Motors, Congresului Locations: AGERPRES, Georgia, Congresului SUA

☆ Elon Musk este cel mai bogat om de pe planetă cu o avere de 188,5 miliarde de dolari
▼ + stars: | 2021-01-07 | by ( ) www.jurnal.md time to read: +2 min

După creşterea de 4,8% înregistrată joi de acţiunile Tesla, averea lui Elon Musk a ajuns la 188,5 miliarde de dolari, cu 1,5 miliarde mai mult decât cea a lui Jeff Bezos, care deţinea titlul de cel mai bogat om din lume începând din luna octombrie 2017. Titlul de cel mai bogat om din lume vine după 12 luni de creştere extroardinară pentru Musk. În vârstă de 49 de ani, Elon Musk a profitat de creşterea spectaculoasă a acţiunilor Tesla în mai multe feluri. Pe lângă participaţia sa de 20% din acţiunile Tesla, Elon Musk deţine şi opţiuni cu acţiuni la compania pe care a fondat-o. Chiar dacă a trecut mai puţin de o săptămână de la începutul anului 2021, clasamentul celor mai bogaţi oameni ai lumi a suferit deja modificări.

Persons: acţiunile Tesla, Elon Musk, Jeff Bezos, Tesla, Zhong Shanshan, Warren Buffett Organizations: Ford, Co, General Motors, Congresului Locations: Georgia, Congresului SUA, acţiunile

☆ Ford se vrea lider de piaţă pe segmentul vehiculelor comerciale electrice
▼ + stars: | 2020-11-12 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +3 min

Constructorul auto american Ford Motor Co intenţionează să controleze o cotă semnificativă pe piaţa autovehiculelor comerciale electrice graţie unor produse precum noul E-Transit cargo van, în ideea de a ajunge la acelaşi nivel cu cel pe care îl deţine pe piaţa autovehiculelor comerciale propulsate cu motoare tradiţionale, transmite Reuters.Ford a dezvăluit joi noua utilitară E-Transit şi cu această ocazie directorul general Jim Farley a subliniat că Ford mizează pe faptul că autovehiculele comerciale electrice pot genera profituri lucrative în pofida faptului că există un număr din ce în ce mai mare de competitori, scrie agerpres.ro Ford domină deja piaţa autovehiculelor comerciale tradiţionale din SUA şi Europa cu o cotă de piaţă de 40% respectiv 15%. "Merităm aceiaşi cotă de piaţă pe segmentul vehiculelor electrice cu cea pe care o avem pe segmentul vehiculelor cu combustie internă şi credem că suntem bine poziţionaţi să ajungem acolo" a declarat directorul diviziei de vehicule comerciale din America de Nord, Ted Cannis.Potrivit directorul general Jim Farley, Ford se aşteaptă ca cererea globală pentru autovehiculelor comerciale electrice să crească până la 1,1 milioane vehicule în 2030 şi chiar dacă start-upuri precum Rivian şi Arrival au încheiat contracte pentru a furniza utilitare electrice pentru Amazon şi UPS, niciuna dintre ele nu poate egala opţiunile de produse şi servicii oferite de Ford.Noua utilitară E-Transit este disponibilă în opt configuraţii, are o autonomie de 126 de mile (aproximativ 200 de kilometri) şi are un preţ de pornire de aproape 45.000 de dolari,cu aproximativ 10.000 de dolari mai mult decât versiunea echipată cu un motor tradiţional.Alţi constructori care intenţionează să lanseze autovehicule comerciale electrice sunt giganţii Daimler AG şi General Motors Co precum şi startup-urile Xos Trucks şi Bollinger Motors.Oficialii Ford nu au dezvăluit care sunt volumele de vânzări pe care Ford le are în vedere pentru E-Transit, însă Bill Rinna, director la firma de consultanţă LMC Automotive estimează că Ford ar urma să construiască 20.000-25.000 de unităţi pe an în America de Nord.Două din cele vehicule electrice pe care Ford le-a anunţat, în cadrul unui plan de investiţii în valoare de 11,5 miliarde dolari destinat electrificării gamei de vehicule până în 2022, sunt destinate clienţilor din zona comercială: utilitara E-Transit şi noul pick up electric F-150.Ford Europa este responsabilă de producerea, vânzarea şi deservirea vehiculelor marca Ford pe 50 de pieţe individuale, având aproximativ 46.000 de angajaţi în unităţile proprii şi în asocierile în participaţie consolidate şi aproximativ 61.000 de angajaţi, dacă sunt incluse şi societăţile neconsolidate. Pe lângă Ford Motor Credit Company, operaţiunile Ford Europa includ Divizia de servicii pentru clienţi Ford şi 19 unităţi de producţie (12 unităţi proprii şi şapte asocieri în participaţie neconsolidate).

Persons: Jim Farley, Ford, Ted Cannis.Potrivit, Bill Rinna Organizations: american Ford Motor, Ford, Amazon, Daimler AG, General Motors, Ford Europa, Ford Motor Credit Company, operaţiunile Ford Europa Locations: american, Transit, SUA, Europa, America de Nord, America, operaţiunile

☆ Coronavirus impact spreads to European auto plant and could hit GM truck production
▼ + stars: | 2020-02-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

An employee uses a flash grinder to smooth out the metal frame of a sports utility vehicle (SUV) on the production line at the General Motors Co. (GM) assembly plant in Arlington, Texas. Automakers working to restart manufacturing in China amid the coronavirus outbreak are trying to prevent operations elsewhere from being affected by supply shortages. General Motors confirmed Friday it is closely monitoring the supply chain for its highly profitable truck production in North America, spokesman David Barnas said in an emailed statement. He added that the automaker "does not anticipate any impact on full-size truck production at this time." The comments follow a report by The Detroit Bureau, an online industry news website, that union leaders in Flint, Michigan, warned of potential parts shortages at their plant as well as the SUV plant in Texas and another truck plant in Indiana due to the coronavirus.

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