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☆ CHART OF THE DAY: The US is importing more goods from Mexico than China for the first time since 2003
▼ + stars: | 2023-09-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The US is importing more goods from Mexico than China for the first time since 2003. The reversal in trend comes as economic tensions between the US and China remain heightened. US companies have been diversifying their production out of China amid geopolitical tensions. The reversal of a decades long trend comes amid heightened economic tensions between the US and China, and as geopolitical tensions flare. Over the summer, computer maker HP said it would shift its production of millions of laptops to Thailand and Mexico from China.

Persons: Ford Organizations: Service, Bank of America, HP, General Motors, Chrysler, Kia Motors, Volkswagen, Nissan, Mercedes, Benz Locations: Mexico, China, Wall, Silicon, Thailand, Asia, Taiwan, Russia, Ukraine

☆ Seat massages, smartphones and driverless features: Automakers turn to tech to take on Tesla
▼ + stars: | 2023-09-11 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

The presence of Amazon, Qualcomm, Samsung and other tech giants underscores how traditional automakers are looking to bolster the tech in their cars. Ramping up technology features is also essential to meet buyer expectations in China. Driverless features pushA big part of the focus of Tesla technology has surrounded its Autopilot ADAS. No car can operate autonomously — at least from a legal perspective — but automakers are ramping up the driverless features and capabilities. watch nowMore traditional automakers are looking to catch up in the area of driverless features.

Persons: Arjun Kharpal, You'd, Tesla, Mohit Sharma, That's, Xingji, Lucid Organizations: Amazon, IAA, Qualcomm, Samsung, CNBC, CCS Insight, Benz, Swedish EV, Polestar, BMW, Neue Locations: Munich, China, Swedish, U.S

☆ Volvo's Russian assets transferred to Russian investor - industry ministry
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

The Volvo logo is seen in truck for sale in Linden, New Jersey, U.S., May 23, 2022. REUTERS/Andrew Kelly/File photo Acquire Licensing RightsMOSCOW, Sept 8 (Reuters) - Swedish truck maker Volvo AB's Russian assets (VOLVb.ST) have been transferred to an undisclosed Russian investor, the Ministry of Industry and Trade said in a statement. Volvo suspended all sales, service and production in Russia in February 2022, and said last October that further write-downs might be necessary. In 2021, Russia accounted for about 3% of its net group sales of about 372 billion Swedish crowns ($33.4 billion). The invasion triggered a host of Western economic sanctions, and threats by Russia to seize Western businesses based there.

Persons: Andrew Kelly, Igor Kim, Alexei Sannikov, Kim, Kevin Liffey, David Evans Organizations: Volvo, REUTERS, Rights, Ministry of Industry, Trade, carmakers Volkswagen, Mercedes, Benz, Nissan, Toyota, Renault, BMW, Kia, Hyundai, Reuters, Thomson Locations: Linden , New Jersey, U.S, Swedish, Russia, Kaluga, Ukraine

☆ From BMW to Porsche: Take a look at the cars on display at one of the world's biggest auto shows
▼ + stars: | 2023-09-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +6 min

BMW Vision Neue KlasseBMW revealed the BMW Vision Neue Klasse, a concept electric vehicle that will underpin its foray into battery-powered cars. Mercedes-Benz Vision One ElevenThe Mercedes-Benz Vision One Eleven on display at the IAA Mobility show in Munich, Germany. GTI ConceptThe all-electric Volkswagen ID GTI Concept car on display at the IAA Mobility 2023 show in Munich, Germany. Porsche Mission XThe Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany. Lego Lamborghini Sián FKP 37A Lego version of the Lamborghini Sián FKP 37 on display at IAA Mobility 2023 in Munich, Germany.

Persons: Olaf Scholz, Ola Källenius, Mercedes, Sven Hoppe, Arjun Kharpal, Leapmotor, Zhu Jiangming, BYD, Warren Buffett, Kharpal, Lucid, Cyberster Organizations: Management, Mercedes, Benz AG, Getty, Mobility, BMW, Neue, CNBC, Benz, IAA, Leapmotor, Opel, CNBC Stellantis, Air, Volkswagen, IAA Mobility, Porsche, Carrera GT, Shanghai Auto, Lamborghini Locations: Munich, GERMANY, Germany, Xpeng, BYD, Hangzhou, Europe

☆ Federal safety regulators push to recall 52 million air bags
▼ + stars: | 2023-09-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Federal safety regulators are pushing to get 52 million air bags recalled due to the threat that they could explode, severely injuring or even killing a car’s occupants. About 11 million of the air bags were manufactured by Delphi under a licensing agreement with ARC. It also did not give an estimate for how many vehicles contain the air bags, since most vehicles have multiple air bags. The agency did not say how many cars may have more than one of the air bags it wants recalled. The number of air bags still in use is less than the 67 million that NHTSA estimated earlier this year.

Persons: ”, Takata, —, Ramishah Maruf Organizations: New, New York CNN, Federal, Traffic Safety Administration, ARC, Delphi, General Motors, Ford, Toyota, Hyundai, Kia, Benz, BMW, Volkswagen, NHTSA, GM, Chevrolet Traverse, GMC Acadia, “ Locations: New York, United States, Canada

☆ Tesla rival Polestar plans own smartphone launch alongside its first electric vehicle in China
▼ + stars: | 2023-09-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Vcg | Visual China Group | Getty ImagesMUNICH — Swedish electric vehicle maker Polestar plans to launch a smartphone in December alongside deliveries of its first car to be released in China, the company's CEO told CNBC. It will be the company's first car to be delivered in China, as it ramps up expansion in the world's biggest electric vehicle market. Alongside that, Polestar will take the unusual move of launching a smartphone carrying the brand's name. It stems from a joint venture created in June between Polestar and Xingji Meizu, a Chinese smartphone maker owned by Chinese auto giant Geely . And the Polestar smartphone would not be an attempt to grow market share.

Persons: Thomas Ingenlath, Polestar, Xingji, Meizu, Ingenlath, It's, Neil Shah, Shah Organizations: HK, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, MUNICH, CNBC, Apple, EV, Counterpoint Research, BMW, Mercedes, Benz, Porsche Locations: Shanghai, China, Swedish, Polestar, German

Federal auto safety regulators moved Tuesday toward a recall of about 52 million airbag inflaters used by a dozen major carmakers, calling the parts unsafe and susceptible to rupture. The National Highway Traffic Safety Administration scheduled a public meeting on Oct. 5 on its recommendation to recall the airbags, manufactured by ARC Automotive and Delphi Automotive Systems. ARC rejected the agency’s initial findings that its airbags were defective. Of the 52 million airbags, 41 million were manufactured by ARC and 11 million were produced by Delphi using a design licensed by ARC. The airbags were variously made in China, Mexico and Knoxville, Tenn., and were used by a dozen major carmakers: BMW, Ford, General Motors, Hyundai, Kia, Maserati, Mercedes-Benz, Porsche, Stellantis, Tesla, Toyota and Volkswagen.

Organizations: Traffic Safety Administration, ARC Automotive, Delphi Automotive Systems, ARC, Delphi, BMW, Ford, General Motors, Hyundai, Kia, Maserati, Mercedes, Benz, Porsche, Toyota, Volkswagen Locations: United States, China, Mexico, Knoxville, Tenn

☆ US says 52 million air bag inflators should be recalled over rupture threat
▼ + stars: | 2023-09-05 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Sept 5 (Reuters) - U.S. auto safety regulators said on Tuesday that 52 million air bag inflators produced by auto suppliers ARC Automotive and Delphi Automotive need to be recalled because they may rupture and send dangerous metal fragments flying. GM in May agreed to recall nearly 1 million vehicles with ARC air bag inflators after a rupture in March resulted in facial injuries to a driver. Delphi Automotive, acquired by Autoliv (ALV.N), manufactured approximately 11 million of the inflators through 2004 under a licensing agreement with ARC, which manufactured the remaining 41 million inflators. NHTSA has been scrutinizing air bag inflator ruptures for more than 15 years. Over the last decade, more than 67 million Takata air bag inflators have been recalled in the United States and more than 100 million worldwide, the biggest auto safety callback on record.

Persons: Autoliv, David Shepardson, Jonathan Oatis, Leslie Adler, Timothy Gardner Organizations: ARC Automotive, Delphi, Traffic Safety Administration, ARC, NHTSA, General Motors, Ford Motor, Toyota, Hyundai, Kia, Mercedes, Benz, BMW, Volkswagen, ARC inflators, GM, Delphi Automotive, Autoliv, Thomson Locations: United States, U.S

German Chancellor Olaf Scholz speaks during an event at the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 5, 2023. The expansion will make range anxiety a thing of the past for EV drivers, he added. Europe's biggest economy has only 90,000 public charging points but is targeting 1 million by 2030 to boost EV take-up. Addressing the protests, Scholz said at the end of his tour: "Protests are part of public and democratic debate ... but it is a little anachronistic. On competition from China in EV production, Scholz said: "Competition should spur us on, not scare us.

Persons: Olaf Scholz, Leonhard Simon, Scholz, Victoria Waldersee, Andreas Rinke, Jan Schwartz, Friederike Heine, Sarah Marsh, Miranda Murray, David Goodman Organizations: REUTERS, Rights, IAA, EV, Sporting, BMW, Mercedes, Benz, HK, Reuters, Thomson Locations: Munich, Germany, Rights MUNICH, Europe, China, Japanese, Korea

☆ 'Most at risk': UBS downgrades 2 major automakers over China EVs threat
▼ + stars: | 2023-09-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

UBS has downgraded both Volkswagen and Renault over mounting competition from Chinese electric vehicle manufacturers. 1 automaker, the company is at risk of being marginalized as Chinese companies, such as Warren Buffet-backed BYD , take market share. 1 automaker in Europe, Volkswagen also faces intensifying competition as higher numbers of cheaper Chinese electric vehicles are imported into the continent. With about 70% of sales in Europe and a 10% market share, the investment bank said Renault is highly exposed to competition from Chinese automakers and Tesla. We estimate Renault's European market share of c10% today will reduce towards 7% by 2030," said UBS analysts led by David Lesne in a separate note to clients.

Persons: Warren Buffet, Patrick Hummel, France's Renault, David Lesne, Benz, Tesla's EVs Organizations: UBS, Volkswagen, Renault, VW, Tesla, Benz, BMW, IAA Mobility, Mercedes Locations: Europe, Munich

☆ Chinese car companies are coming for Europe. VW and Mercedes should be nervous.
▼ + stars: | 2023-09-05 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

The Chinese auto industry has been booming in recent years. Chinese EV companies are expected to outsell foreign brands there, including Ford, GM, and others, for the first time this year. This is worrying executives at some major legacy auto companies, according to several reports out of the Munich auto show. Consulting firm KPMG estimates Chinese companies could account for 15% of market share in Europe within just two years. Chinese EV companies also have an edge against rivals in producing EVs at bigger scale and lower costs, a crucial measure of any electric car companies' future success.

Persons: Hildegard Mueller, Oliver Zipse, Morgan Stanley Organizations: Volkswagen, Mercedes, Benz, BMW, Ford, GM, Service, EV, German Association of, Automotive Industry, KPMG Locations: Wall, Silicon, Europe, China, Munich, XPeng, Germany

[1/6] A view shows model TO3 of Leapmotor, a Chinese automobile manufacturer, displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. Chinese EV makers, including BYD (002594.SZ), Nio (9866.HK) and Xpeng (9868.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. The arrival of Chinese EV makers in Europe has raised concerns they could dominate EV sales. Xpeng President Brian Gu said while European carmakers currently lag behind China, they have made a "huge commitment" to EVs with partnerships and large investments in technology. "I would never discount the large (carmakers) trying really hard to come back and focus on this important transition," Gu said.

Persons: Leonhard Simon, Luca de Meo, De Meo, Hildegard Mueller, Oliver Zipse, Oliver Blume, Brian Gu, Gu, Ferdinand Dudenhoeffer, Dudenhoeffer, Nick Carey, Victoria Waldersee, Gilles Gillaume Christina Amann, Zoey Zhang, Jan Schwartz, Friederike Heine, Clarence Fernandez, Sharon Singleton Organizations: REUTERS, China EV, Renault, Reuters, HK, Europe's EV, Zhejiang Leapmotor Technology, EV, German Association of, Automotive Industry, Jato Dynamics, BMW, Benz, Klasse, Volkswagen, Auto, Thomson Locations: Munich, Germany, China, MUNICH, BYD, Zhejiang, Europe, Asia

REUTERS/Angelika Warmuth Acquire Licensing RightsMUNICH, Sept 4 (Reuters) - Mercedes-Benz (MBGn.DE) does not expect its sales in Europe to be all-electric by 2030 but will have its line-up ready, Chief Executive Ola Kaellenius said in an interview at the Munich car show. The premium carmaker has long said it is targeting all-electric sales by 2030 "where markets allow", saying customers will ultimately decide what product they want and pointing to the need for infrastructure to support the transition to electric vehicles (EV). Europe's EV market had grown significantly in recent years but likely wouldn't be ready for all-electric sales by 2030, Kaellenius said on the sidelines of the Munich show. "It's not going to be 100% in 2030, obviously... from the whole European market, but probably from the Mercedes side as well," he said. EV sales in Europe grew nearly 55% in the first seven months of 2023, to about 820,000 vehicles, making up about 13% of all car sales.

Persons: Mercedes, Angelika Warmuth, Ola Kaellenius, Kaellenius, It's, Oliver Zipse, Oliver Blume, Victoria Waldersee, Miranda Murray, Susan Fenton Organizations: Benz, REUTERS, Rights, Mercedes, BMW, Volkswagen, Victoria, Thomson Locations: Munich, Germany, Europe, China

A Renault wallbox charging station is used by a Renault Captur hybrid car at a dealership in Les Sorinieres, near Nantes, France, October 23, 2020. Chinese EV makers, including BYD (002594.SZ), Nio (9866.HK) and Xpeng (9868.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. The arrival of Chinese EV makers in Europe has raised concerns they will undercut local carmakers and dominate EV sales. Mercedes-Benz (MBGn.DE) will present its CLA compact class and BMW (BMWG.DE) its Neue Klasse, both of which target higher range and efficiency, while halving production costs. Volkswagen (VOWG_p.DE) CEO Oliver Blume told reporters that through its partnerships in China, the carmaker aims to cut battery cell costs by 50%.

Persons: Stephane Mahe, Luca de Meo, De Meo, Fabian Brandt, Oliver Wyman, Gilles Le Borgne, Oliver Blume, " Blume, Nick Carey, Victoria Waldersee, Gilles Gillaume, Christina Amann, Friederike Heine, Clarence Fernandez, Sharon Singleton Organizations: Renault, REUTERS, China EV, Reuters, HK, Europe's EV, EV, Jato Dynamics, Benz, BMW, Klasse, Volkswagen, Greenpeace, Protesters, Thomson Locations: Les Sorinieres, Nantes, France, China, MUNICH, BYD, Europe, Munich, Asia

☆ Mercedes unveils new electric vehicles with better range than any Tesla model
▼ + stars: | 2023-09-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

London CNN —Mercedes-Benz has just unveiled new “close-to-production” concept vehicles that could outdo Tesla cars by going more than 466 miles on a single charge. That’s compared with a range of less than 380 miles for any Tesla model. The German automaker’s Concept CLA Class, revealed Sunday at the IAA Mobility auto show in Munich, comprises four new models: a sedan, a station wagon and two SUVs. The vehicles will each have a range of more than 750 kilometers (466 miles), versus Tesla’s (TSLA) Model 3 and Model S, which have the brand’s highest ranges and each can go for just under 375 miles off one charge. Overall, charging speed and range are expected to be improved by up to 30% compared with the brand’s previous models, according to the company.

Persons: London CNN — Mercedes, Tesla, ” Frank Weber, Mercedes, Ola Källenius, Roger Federer, Källenius, Mercedes ’, “ Organizations: London CNN, Benz, IAA, BMW, Volkswagen, Renault, Europe’s, “, Neue, Mercedes, Roger Federer Sunday, UBS Locations: Munich, Berlin, Hamburg, Mercedes ’

☆ Munich car show shines spotlight on China competition in EV race
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

A Renault wallbox charging station is used by a Renault Captur hybrid car at a dealership in Les Sorinieres, near Nantes, France, October 23, 2020. About 41% of exhibitors at this year's event are headquartered in Asia, with the number of Chinese companies having more than doubled, including players across batteries and EV production such as BYD, CATL and XPeng. "Europe needs to stop being naive from a macroeconomic point of view in the face of China," Gilles Le Borgne, Renault's (RENA.PA) engineering head, told journalists on Sunday, pointing to the country's control of the full battery supply chain. Chinese and German players, including top German carmakers and suppliers and China's LeapMotors and Horizon Robotics, will also speak at a Chinese EV conference set for Wednesday and Thursday for the first time outside China as part of the IAA. ($1=0.9273 euros)Reporting by Victoria Waldersee, Gilles Gillaume and Christina Amann; Editing by Friederike Heine and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephane Mahe, Gilles Le Borgne, Fabian Brandt, Oliver Wyman, Victoria Waldersee, Gilles Gillaume, Christina Amann, Friederike Heine, Clarence Fernandez Organizations: Renault, REUTERS, Rights, Horizon Robotics, EV, IAA, Mercedes, Benz, BMW, Klasse, Volkswagen, Thomson Locations: Les Sorinieres, Nantes, France, Asia, Europe, China

☆ Mercedes and BMW want to take on Tesla. Check out their new electric concept cars
▼ + stars: | 2023-09-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Mercedes-BenzMercedes-Benz and BMW took the wraps off electric concept cars as they look to catch up with Tesla in the premium end of the market. At the IAA auto show in Munich, Mercedes showed off the Mercedes-Benz Concept CLA Class while BMW revealed the BMW Vision Neue Klasse. Mercedes-Benz Concept CLA ClassThe Mercedes-Benz Concept CLA Class is built on the so-called Mercedes‑Benz Modular Architecture (MMA), a new platform designed by the German auto giant for electric cars. BMW Vision Neue KlasseThe BMW Vision Neue Klasse is BMW's answer to Tesla. BMW revealed the BMW Vision Neue Klasse, a concept electric vehicle that will underpin its foray into battery-powered cars.

Persons: Tesla, Mercedes, they're, Mercedes ‑, Benz Mercedes, Benz, Arjun Kharpal Organizations: Mercedes, Benz, Benz Mercedes, BMW, IAA, Neue, Neue Klasse, CNBC, Klasse, CNBC BMW Locations: Munich, Germany

☆ BMW, Mercedes launch biggest EV push yet to catch Tesla with new models
▼ + stars: | 2023-09-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

BMWMUNICH, Germany — BMW and Mercedes are making their biggest push yet into electric cars in a bid to fend off rising competition from Chinese players and catch up with U.S. giant Tesla . On Saturday, rival BMW showed off the "Vision Neue Klasse," another electric concept car that highlights the company's EV ambitions. This is the companies' biggest push yet toward a new platform for the electric vehicle era. Tesla commanded 20% of the global EV market in the second quarter, followed by 15% for BYD, according to Counterpoint Research. GTI Concept electric vehicle at the IAA show, and said a production version of the car is scheduled to hit the road in 2027.

Persons: Warren Buffett, BYD, Elon Musk's Tesla, Mercedes, Ola Kallenius, Kallenius, CNBC's Annette Weisbach, Oliver Zipse, CNBC's Arabile, Zipse, Daniel Roeska, Roeska, Tesla Organizations: BMW, IAA, BMW MUNICH, Mercedes, IAA Mobility, Benz, Analysts, Bernstein Research, CNBC, Tesla, BYD, Research, U.S ., EV, Volkswagen Locations: Munich, Germany, Tesla, China

☆ Mercedes boss: EV costs will remain higher for foreseeable future
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: +2 min

Ola Kaellenius's comments come as Mercedes-Benz disclosed more details about its newest electric vehicle architecture, the CLA compact electric sedan, which will launch next year and target 30% to 35% more driving range. "The variable costs for an electric car are higher. It will remain that way for the foreseeable future," Kaellenius told journalists at the IAA car show in Munich, adding higher costs could not be passed on to customers on a like for like basis. Variable costs weighing on the price tag of EV production include raw materials for batteries, software development, and electricity prices. Batteries for the CLA will be produced by key supplier CATL (300750.SZ) and ACC, in which Mercedes owns a third.

Persons: Ola Kaellenius's, Kaellenius, Markus Schaefer, Mercedes, Schaefer, Christina Amann, Christoph Steitz, Frances Kerry Organizations: Benz, Mercedes, IAA, ACC, Victoria, Thomson Locations: Woodstock , Alabama, MUNICH, Munich

☆ Mercedes to release a smaller version of its G Class luxury SUV
▼ + stars: | 2023-09-03 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The Mercedes-Benz G Class is a luxury SUV that has become popular in the U.S.Mercedes plans to launch a smaller version of its high-end G Class sports utility vehicle, the German carmaker's CEO told CNBC in an interview Sunday. The G Class, a rugged off-road car which starts at just under $140,000, is popular with buyers in the U.S. Now Ola Kallenius, CEO of Mercedes, confirmed a "little G" is on the horizon, a smaller version of the G Class. The G Class is known for being difficult to get your hands on, with Mercedes controlling the supply of the luxury off-road car. "The G Class is an icon, it is difficult to get one.

Persons: Mercedes, Ola Kallenius, Kallenius, CNBC's Annette Weisbach, Bentley Organizations: Mercedes, Benz, CNBC, Rover Locations: U.S

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

Mercedes will also offer a lithium-iron-phosphate, or LFP, battery in the new CLA model lineup due to hit showrooms in early 2025, a first for any Mercedes EV, the CEO said in an interview. Mercedes will preview the future electric CLA with a prototype to be unveiled at the IAA auto show in Munich, Germany on Sunday. Getting more driving range using less energy from the battery is the key target for the German automaker's future EV development, Kaellenius said. Driving range remains a critical competitive benchmark in the EV market. Mercedes engineers have been testing ways to improve EV efficiency using long road trips in a prototype vehicle called the Vision EQXX.

Persons: Ola Kaellenius, Mercedes, Tesla, Kaellenius, Joe White, Susan Fenton Organizations: DETROIT, Benz, Reuters, EV, Tesla, Sunday, VW, Consumers, Thomson Locations: China, Munich, Germany, Europe, United States

☆ GM, Google exploring ways to use AI across automaker’s business
▼ + stars: | 2023-08-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. DETROIT – General Motors is working with Google to explore opportunities to implement AI technologies across the automaker's business, the companies announced Tuesday. The IVA system is powered by "intent-recognition algorithms" that use Google Cloud's conversational AI technologies, providing OnStar users with responses to common inquiries, as well as routing and navigation assistance, GM said Tuesday. Some use cases could include vehicle validation, software and in-car assistance such as the OnStar service. GM previously said it was exploring uses for ChatGPT as part of its broader collaboration with Microsoft .

Persons: IVA, Mike Abbott, Mercedes Organizations: General Motors, DETROIT –, Google, Detroit, GM's, GM, Apple, ChatGPT, Microsoft, Mercedes, Benz, U.S Locations: Detroit , Michigan, DETROIT

☆ Electric Vehicle Charging Can Be Confusing. Here’s What to Know.
▼ + stars: | 2023-08-28 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: 1 min

With a push from Congress, automakers and charging companies are planning to install tens of thousands of fast chargers on American highways capable of refueling electric cars in half an hour or less. That’s good news for anyone who owns an electric car or is thinking about buying one. But it’s also confusing because of a debate about what kind of plugs those new chargers and cars will use now and in the future. Ford Motor, General Motors, Mercedes-Benz and other automakers plan to abandon the plugs their electric cars use today for those designed by Tesla. But they won’t begin selling cars with the Tesla plugs until 2025.

Persons: it’s Organizations: Ford Motor, General Motors, Mercedes, Benz, Tesla, Ford, Chevrolet

☆ 44% of savers in their 20s and 30s want to retire by 60, but few are on track—see how you stack up
▼ + stars: | 2023-08-28 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

Some 44% of retirement savers in their 20s and 30s say they want to retire by 60, according to a recent survey from the World Economic Forum. Some investors have multiple 401(k) accounts from multiple jobs, and others are saving in other types of accounts, such as individual retirement accounts or regular brokerage accounts. Still, there's no doubt that many younger Americans currently aren't on track to retire at the current full retirement age of 67, let alone at 60. Here's how financial pros say you can calculate whether or not you'll be able to retire when — and how — you want. Then assume a withdrawal rate — what you're going to take out every year while, hopefully, your investments continue to grow.

Persons: you've, you'd, Russell Gaiser, Christine Benz, Critics Organizations: Taco Bell, Economic, CNBC, Fidelity, Morningstar, Benz

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