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MEXICO CITY, Oct 26 (Reuters) - Lewis Hamilton claimed on Thursday that more cars than his Mercedes and Charles Leclerc's Ferrari were illegal at the U.S. Grand Prix in Austin and called for a fairer system of post-race checks. Both teams accepted their punishment and blamed the sprint format, with only one practice session, and particularly bumpy track. Only four of the 15 cars that finished the race were checked for such a breach, however. "I have heard from different sources that there were many cars that had not been tested and were also illegal," Hamilton told reporters ahead of this weekend's race in Mexico City. "It's unlikely two cars (from the same team) are that different, so if one car is illegal, there is a high chance that the other car is," said the Briton.
Persons: Lewis Hamilton, Mercedes, Charles Leclerc's Ferrari, Leclerc, George Russell, Ferrari's Carlos Sainz, Hamilton, Max Verstappen, McLaren's Lando Norris, Alan Baldwin, Christopher Cushing Organizations: MEXICO CITY, U.S, Prix, FIA, Thomson Locations: MEXICO, Austin, Mexico City, Dutch, London
The need for conversion to low-carbon steel production is greater in Europe, where 57% of steel is produced in coal-fired blast furnaces. Swedish-based startup H2 Green Steel has signed deals to supply low-carbon steel to IKEA, Mercedes-Benz , BMW and Scania. Customers of H2 Green Steel have been willing to support the project based on their own green targets and their end-customers’ willingness to pay a green premium, he said. H2 Green Steel said it would charge a €150 premium, while Swedish steelmaker SSAB expects to charge double that. Research from the Rocky Mountain Institute suggests the IRA will encourage green steel investments that would, by 2030, produce about eight million tons of low-carbon steel, or nearly 10% of U.S. steel demand.
Persons: fabian strauch, , Colin Richardson, incentivizing, CBAM, Nicola Davidson, Davidson, Henrik Henriksson, Mikael Sjoberg, ” Henriksson, Gunnar Güthenke, SSAB, Europe ”, Simone Tagliapietra, Paul Lim, ” Lim, Yusuf Khan Organizations: Leadership Group, Industry, Argus Media, Rocky Mountain Institute, U.S ., Business, International Energy Agency, Investments, Steel, IKEA, Mercedes, Benz, BMW, Scania, H2, Bloomberg, Research, Europe, Bruegel, U.S Locations: Europe, U.S, Brussels, London, European, Lakes , Texas, Pacific, China, Asia
The two will form a joint venture that will give Stellantis the exclusive rights to produce, export and sell the Chinese brand’s vehicles outside Greater China. Stellantis will control the joint venture, with a 51% stake, while Leapmotor will take a 49% share. In July, Volkswagen announced it was buying a 5% stake in Chinese EV maker Xpeng and unveiled a strategic partnership to jointly develop new vehicles. News of Stellantis’ latest partnership comes about a year after it terminated its joint venture in China with Guangzhou Automobile Group Company (GAC). Stellantis is acquiring Leapmotor shares at a price of 43.8 Hong Kong dollars ($5.6) apiece, according to a Thursday stock exchange filing by the Chinese firm.
Persons: Hong Kong CNN —, Leapmotor, Mercedes, Nio, Stellantis, weren’t Organizations: Hong Kong CNN, Chrysler, Volkswagen, Xpeng, Reuters, CNN, Nio, Guangzhou Automobile Group Company, Hong Locations: Hong Kong, Leapmotor, Hangzhou, Greater China, Shanghai, China
The Mexican, second in a championship already won by Verstappen for the third year running, emphasised the slogan of a local #racepect campaign in saying what happened on track must stay on track. "Whatever happens on track should always stay there and that's the best message we as a country want to give to the rest of the world." "Checo (Perez) and I have got on very well, I don't think there is a rivalry. Verstappen has won four of the last five Mexican Grands Prix while the country is still waiting for its first home winner. Mexican Grand Prix organisers condemned the comments at the time and called for "a more respectful and united Formula One community, encouraging healthy competition both on and off the track."
Persons: Sergio Perez, Max Verstappen, Autodromo Hermanos Rodriguez, Verstappen, Perez, Red Bull, Mercedes, Lewis Hamilton, Verstappen's, Checo, Helmut Marko riled, Alan Baldwin, Ken Ferris Organizations: MEXICO CITY, Formula, Red, Verstappen, Autodromo Hermanos, Texas, Grands Prix, Thomson Locations: MEXICO, Japan, Dutch, Austrian, Mexican, London
The company on Thursday reported a 12.4% adjusted return on sales in its cars division in the third quarter. Mercedes-Benz described the market environment as "subdued", but Wilhelm said "we are beyond the worst" when it comes to inflation and energy pricing. Mercedes-Benz earlier this month reported a 4% drop in overall third-quarter sales, with top-end sales down 11%, partly caused by model changeovers and a shortage in 48-volt systems supplied by Bosch. Car revenue dipped 3.8% due to the fall in deliveries, but the average selling price remained stable, the company said. ($1 = 0.9485 euros)Reporting by Victoria Waldersee; Editing by Rachel More, Jacqueline Wong and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.
Persons: Issei Kato, BEV, Harald Wilhelm, Wilhelm, Mercedes, Tesla, Victoria Waldersee, Rachel More, Jacqueline Wong, Jan Harvey Organizations: Mercedes, Benz, Japan, REUTERS, EV, BMW, VW, Ford, Porsche, Bosch, Thomson Locations: Tokyo, Japan, BERLIN, Germany, United States, China, stoke
As the company reported third-quarter earnings, Chief Executive Jim Rowan told Reuters that he saw healthy demand for its cars, and was optimistic the margins would increase further in the fourth quarter. Volvo's BEV margins were 9% in the quarter, a sharp increase from the previous quarter's figure of 3%. Rowan said he expected the trend of falling prices of raw materials to continue, helping the company increase margins further for the fourth quarter. Investors proved unconvinced, as Volvo shares, down 10% by 1014 GMT, after having fallen as much as 12%, looked set for their biggest ever one-day drop. EV makers have engaged in stiff competition this year, after Tesla ignited a price war intensified by new Chinese players.
Persons: Aly, Jim Rowan, EVs, BEV, Rowan, Jefferies, Philippe Houchois, Houchois, Tesla, China's Geely, Marie Mannes, Greta Rosen Fondahn, Terje Solsvik, Clarence Fernandez Organizations: Volvo, Auto Shanghai, REUTERS, Rights, Reuters, Benz, Motors, Ford, Volkswagen, China's, Thomson Locations: Shanghai, China, Rights STOCKHOLM, EVs
Mercedes-Benz shares were sharply lower Thursday after the German carmaker reported a decline in profit and revenue as challenges from electrical vehicle competition to supply chains. On an analyst call regarding the results, Chief Financial Officer Harald Wilhelm described the EV market as a "pretty brutal space," Reuters reported. "I can hardly imagine the current status quo is fully sustainable for everybody," Wilhelm said, according to the news agency. Group earnings before interest and taxes (EBIT) fell 7% to 4.8 billion euros ($5.06 billion) in the third quarter. Revenue was down 1.4% to 37.2 billion euros, below the consensus estimate, as passenger car sales dropped 5%, partially due to supply chain challenges.
Persons: Harald Wilhelm, Wilhelm Organizations: Mercedes, Benz, Reuters, Revenue Locations: Brussels, Belgium, Frankfurt, London, EVs
Dealers have been warning of slowing EV demand for months. While GM's about-face was somewhat of a surprise to investors, the Detroit car company is not alone in this new view of the EV future. Just a few months after dealers have started coming forward to warn of slowing EV demand, manufacturers appear to be catching up to that reality. In July, the company extended its self-imposed deadline to hit annual electric vehicle production of 600,000 by a year, and abandoned a 2026 target to build 2 million EVs . In scrapping plans with GM to co-develop sub-$30,000 EVs, Honda CEO Toshihiro Mibe said the shifting EV environment was difficult to gauge.
Persons: Mercedes, , Mary Barra, Bolt, GM doesn't, Tesla's Elon Musk, Harald Wilhelm, Mercedes isn't, Ford, Toshihiro Mibe, Mibe Organizations: EV, Dealers, Service, GM, Barra, Benz, Honda, Bloomberg Locations: Detroit
Morning Bid: ECB on hold, five's alive in the US
  + stars: | 2023-10-26 | by ( ) www.reuters.com   time to read: +2 min
A view shows the European Central Bank (ECB) flag and the flag of the European Union in front of the ECB Building in Frankfurt, Germany, September 14, 2023. All 85 economists polled by Reuters last week expected the European Central Bank to stay on hold. Israel bombarded Hamas targets as it prepared for a ground invasion, with Russia warning the conflict could spread beyond the Middle East. Russia said it successfully tested its ability to deliver a massive retaliatory nuclear strike by land, sea and air. Reuters GraphicsKey developments that could influence markets on Thursday:Economics: European Central Bank meeting, U.S. GDPEarnings: Unilever, Mercedes, Standard Chartered and, after market close, AmazonReporting by Tom Westbrook.
Persons: Wolfgang Rattay, Tom Westbrook, Mike Johnson, Trump, Ted Pick, James Gorman, Morgan Stanley, Pick, Israel, Sam Holmes Organizations: European Central Bank, European Union, REUTERS, Reuters, Unilever, Mercedes, Treasury, Nasdaq, Republican, United Auto Workers, Ford, Standard Chartered, Amazon, Thomson Locations: Frankfurt, Germany, Asia, U.S, Louisiana, Ukraine, Russia, East
Sergio Perez was still in Texas when he called the Mexico City Grand Prix his most important race weekend of the season. And while Perez has been part Red Bull's crushing constructor's championship, Verstappen is so dominant that he would have Red Bull in first place all by himself. His photo adorns just about everything in Mexico City this week, from race promotional billboards, television commercials and ads for car insurance and breakfast oats. “I don't think Max is going to get the warmest reception in Mexico,” Red Bull team principal Christian Horner said this week. “I want Mexico to come out to support the whole Oracle Red Bull Racing Team, not just me,” he said.
Persons: Sergio Perez, Perez, Max Verstappen, , Verstappen, Lewis Hamilton, Mercedes, Bull, Thing, Red Bull, Helmut Marko, Marko, Verstappen's, , ” Verstappen, hasn’t, Luis Manuel de la, Autodromo Hermanos Rodriguez, Red, Max, Christian Horner, ” Perez, Horner, he's, That's, Alejandra Zuniga Organizations: Mexico City Grand Prix, Red Bull, United, Luis Manuel de la Concha, Mexico City, Prix, Autodromo Hermanos, Verstappen, U.S, Bull Racing Team Locations: Texas, Mexico, , Dutch, United States, Austin, Hamilton, North America, Mexico City, Mexican
Preparations at the Mercedes-Benz booth with the Mercedes-Benz Vision EQXX automobile ahead of the Munich Motor Show (IAA) in Munich, Germany, on Sunday, Sept. 3, 2023. Earnings before interest and taxes (EBIT) across the Mercedes-Benz Group fell 6.8% to 4.8 billion euros ($5.1 billion) with revenue down 1.4% at 37.2 billion euros. The cars division reported a 12.4% adjusted return on sales, at the lower end of the annual forecast. Mercedes-Benz Vans reported a stronger quarter with a 44% rise in EBIT to 715 million euros and an adjusted return on sales of 15%. Car revenue dipped 3.8% due to the fall in deliveries but the average selling price remained stable, the company said.
Persons: Alex Kraus, Tesla Organizations: Mercedes, Benz, Munich, Bloomberg, Getty Images Mercedes, Ford, Porsche, Benz Group, Benz Vans Locations: Munich, Germany, United States, China, stoke, EBIT
Perez to feel the love even if the dream is dashed
  + stars: | 2023-10-25 | by ( Alan Baldwin | ) www.reuters.com   time to read: +3 min
"I don't think Max is going to get the warmest reception in Mexico," commented team boss Christian Horner after Verstappen won to boos in Austin last Sunday. Perez, with 'Never Give Up' prominent on a specially-designed helmet for the occasion, remains positive despite a run of poor form. Perez, a winner twice this year, has been off the podium in his previous four outings and beaten by Verstappen in the last 14. Verstappen has won four of the last five Mexican Grands Prix while Perez has been third in the last two. Denmark's Frederik Vesti will take George Russell's Mercedes and Britain's Oliver Bearman replaces Kevin Magnussen at Haas for FP1.
Persons: Sergio Perez, Greenlee Beal, Bull, Max Verstappen, Mexico City's Autodromo Hermanos Rodriguez, Max, Christian Horner, Verstappen, Austin, Perez, Alain Prost, McLaren's Lando Norris, German Nick Heidfeld, Norris, Lewis Hamilton, Hamilton, Jack Doohan, Mick, Isack Hadjar, Theo Pourchaire, Denmark's Frederik Vesti, George Russell's Mercedes, Britain's Oliver Bearman, Kevin Magnussen, Haas, Alan Baldwin, Ed Osmond Organizations: United, Prix, Mexico City's Autodromo Hermanos, Verstappen, Grands Prix, Alpine, FP1, Thomson Locations: United States, Americas, Austin , Texas, U.S, Mexican, Mexico, German, Austin, London
Formula One statistics for the Mexican Grand Prix
  + stars: | 2023-10-25 | by ( ) www.reuters.com   time to read: +4 min
[1/3] Formula One F1 - United States Grand Prix - Circuit of the Americas, Austin, Texas, U.S. - October 22, 2023 Red Bull's Sergio Perez in action during the race REUTERS/Brian Snyder/File Photo Acquire Licensing RightsOct 25 (Reuters) - Formula One statistics for Sunday's Mexican Grand Prix at Mexico City's Autodromo Hermanos Rodriguez, round 19 of the 22-race season. CHAMPIONSHIPRed Bull and Verstappen have won both championships already, Verstappen his third and Red Bull their sixth. Red Bull have won 17 of 18 races, with Ferrari's Carlos Sainz winning in Singapore. Red Bull have also had a team record six one-two finishes in 2023. PODIUMSix teams and 11 drivers have made a podium appearance this season: Red Bull, Alpine, Aston Martin, McLaren, Mercedes and Ferrari.
Persons: Sergio Perez, Brian Snyder, Mexico City's Autodromo Hermanos Rodriguez, Max Verstappen, Red, MEXICO Red Bull's Sergio Perez, Lewis Hamilton, Nico Rosberg, Hamilton, Bull, Verstappen, Red Bull, Alain Prost, Ferrari's Carlos Sainz, Singapore . Red Bull, Aston Martin's Fernando Alonso, Ferrari's Charles Leclerc, Sainz, Aston Martin, McLaren, Mercedes, Michael Schumacher, Alonso, Alfa Romeo's, Zhou, Perez, Mercedes's George Russell, McLaren's Oscar Piastri, AlphaTauri's Yuki Tsunoda, Satoru Nakajima, Kamui Kobayashi, McLaren's Lando Norris, Nick Heidfeld's, Alan Baldwin, Ed Osmond Organizations: United, Prix, Mexico City's Autodromo Hermanos, MEXICO Red, Mercedes, Red, WINS Verstappen, Ferrari, Aston, Thomson Locations: United States, Americas, Austin , Texas, U.S, Netherlands, MEXICO, Mexico, Singapore, Singapore . Red, Saudi Arabia, Spain, Azerbaijan, Belgium, Austin, Hamilton, Hungary, Italy, Verstappen, Brazil, Australia, China, London
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Japanese government is starting to 'really invest' in EV charging: Mercedes-Benz Japan CEOKintaro Ueno, president and CEO of Mercedes-Benz Japan, discusses the market for electric vehicles in the country.
Persons: Kintaro Ueno Organizations: EV, Benz, Mercedes Locations: Benz Japan
Elon Musk's current custody battle with Grimes hinges on where his children with the musician live. At a Formula 1 event in Texas, Musk was pictured waving to the crowd with his son X on his shoulders. AdvertisementAdvertisementTesla CEO Elon Musk made an appearance at Sunday's F1 race in Austin, Texas, with his son X perched on his shoulders. The 3-year-old is at the center of a parental rights battle between Musk and his sometimes-partner, musician Grimes. X, meanwhile, is "only absent from California over [Boucher's] objection," according to Grimes' October 6 request for Musk's case to be thrown out, previously obtained by Insider.
Persons: Elon Musk's, Grimes, Musk, X, , Elon Musk, Claire Boucher, Musk's Cybertruck, nannies, Peter M, Walzer Melcher, Grimes didn't Organizations: Service, Tau, SpaceX, Mercedes, Musk Locations: Texas, Austin , Texas, California, Musk's
Mercedes to move on from Austin blow with 'sunny optimism'
  + stars: | 2023-10-25 | by ( ) www.reuters.com   time to read: +2 min
Oct 25 (Reuters) - Mercedes expect their upgraded car to perform strongly in the final four races of the Formula One season despite the blow of having Lewis Hamilton disqualified from second place in Texas last Sunday. Allison said that feeling would soon be replaced by "a sunny optimism of knowing that the car looked bright on this upgrade package and we've got four more races to show what we can do with it". Allison said Austin, despite the skid plate problem, had actually been a "cast-iron vote of confidence in favour of what we put on the car". When we had done our setup we checked the plank and everything all looked fine, untouched after the FP1 running. We were illegal so clearly we should have had our car set a little bit higher up to give ourselves a little bit more margin."
Persons: Mercedes, Lewis Hamilton, James Allison, Austin debrief, Allison, we've, George Russell, we'll, Austin, Alan Baldwin, Clare Fallon Organizations: Thomson Locations: Texas, Mexico, Brazil, Las Vegas, Abu Dhabi, London
Formula One fanatics will get more behind-the-scenes access to the global motorsports series through a new CNBC documentary that explores the business aspects of the highest form of racing in the world. The documentary “Inside Track: The Business of Formula 1 " will debut Nov. 16 on CNBC ahead of the inaugural Las Vegas Grand Prix. The Las Vegas race is a third stop in the United States this season as F1 has expanded through North America behind a burst of popularity sparked by Netflix's own docudrama on the series. The program also examines the fan experience with a look at the Las Vegas Grand Prix, which is expected to be the most expensive event for spectators on this year's F1 schedule. Eisen also interviews F1 Academy managing director Susie Wolff with a focus on female drivers.
Persons: Netflix's, Sara Eisen, , Eisen, ” Eisen, Greg Maffei, Stefano Domenicali, Red Bull, Haas, Lewis Hamilton, Kevin Magnussen, Nico Hulkenberg, Susie Wolff Organizations: CNBC, Las Vegas, North America, Netflix, Liberty Media, Liberty, McLaren, F1 Locations: Vegas, United States, North, America
Aerospace startup Space Perspective teamed with Mercedes-Maybach to design a luxury space experience. Space Perspective aims to take guests 100,000 feet above Earth's atmosphere by 2024. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Space Perspective hopes to take travelers up in the air by the end of 2024 in a craft known as Spaceship Neptune, a pressurized capsule with panoramic views. A space balloon will lift Neptune 100,000 feet into the upper stratosphere, where guests can witness the earth's curvature.
Persons: , Alan Eustace Organizations: Aerospace, Mercedes, Maybach, Service
It’s a message ringing clear at the Tokyo Mobility Show, which will run through Nov. 5 at Tokyo Big Sight hall and where battery-powered electric vehicles are the star at practically every booth. Toyota Motor Corp.’s lean angular Lexus concept, set to go on sale in 2026, is an electric vehicle running on lithium-ion batteries. That is partly because of Toyota’s past success in hybrids, exemplified in the Prius, which have a gasoline engine in addition to an electric motor. In China, a third of vehicles sold are EVs. Nissan, an early EV maker among the Japanese with its Leaf going on sale in 2010, is showcasing four EV concept cars.
Persons: , ” Takero Kato, China's BYD, Kato, Tesla, EVs, Joe Biden, BYD, ” Kato, Joshua Cobb, , Cobb, Alfonoso Albaisa, ” Albaisa, De Souza, , John de Souza, ___ Yuri Kageyama Organizations: TOKYO, Toyota, Tokyo Mobility, Mazda Motor Corp, Honda Motor, Toyota Motor Corp, Journalists, General Motors Co, Ford Motor Co, Benz, Subaru, Lexus, International Energy Agency, BMI, SAIC, GM, EV, Nissan, , Manufacturers, Mitsubishi Fuso, Daimler, Mitsubishi Locations: Tokyo, Japan, U.S, China, San Francisco
Hamilton and Leclerc disqualified from U.S. Grand Prix
  + stars: | 2023-10-23 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Oct 22, 2023; Austin, Texas, USA; Mercedes AMG Petronas Motorsport driver Lewis Hamilton (44) of Team Great Britain drives during the 2023 United States Grand Prix at Circuit of the Americas. Mandatory Credit: Jerome Miron-USA TODAY Sports Acquire Licensing RightsAUSTIN, Texas, Oct 22 (Reuters) - Mercedes accepted their punishment after Formula One stewards disqualified Lewis Hamilton from second place in Sunday's U.S. Grand Prix along with sixth-placed Ferrari driver Charles Leclerc. Mercedes had brought an upgraded car to Texas and Hamilton, whose team mate George Russell moved up to fifth, had looked more competitive. "We can take a lot of positives from the car performance today," said Wolff. Reporting by Alan Baldwin in London, editing by Christian Schmollinger and Michael PerryOur Standards: The Thomson Reuters Trust Principles.
Persons: Lewis Hamilton, Jerome Miron, Mercedes, Charles Leclerc, COTA, Toto Wolff, Red Bull's Max Verstappen, George Russell, Wolff, Carlos Sainz, Alan Baldwin, Christian Schmollinger, Michael Perry Organizations: Mercedes, Petronas Motorsport, Great, Prix, Circuit, Ferrari, FIA, Austin's Circuit, Thomson Locations: Austin , Texas, USA, Americas, , Texas, Sunday's U.S, Texas, Hamilton, London
Sargeant ends a 30-year wait for US driver to score in F1
  + stars: | 2023-10-23 | by ( ) www.reuters.com   time to read: +2 min
Sargeant was classified 10th at Austin's Circuit of the Americas after Mercedes' Hamilton was stripped of second place and Ferrari's Leclerc lost his sixth place when their cars failed post-race checks. The last U.S. driver before the 22-year-old Florida native to score in a grand prix was Michael Andretti with McLaren in 1993. "It’s amazing to score my first point in F1 on home turf after the challenging weekend I’ve had," said Sargeant, who failed to finish the previous race in Qatar after suffering exhaustion in the heat. The team are seventh out of 10 in the constructors' standings, 10 points clear of eighth-placed Alfa Romeo with four races remaining. Australian Daniel Ricciardo, returning from injury at AlphaTauri, is now the only driver on the starting grid yet to score this season.
Persons: Williams, Logan Sargeant, Greenlee Beal, Lewis Hamilton, Charles Leclerc, Sargeant, Mercedes, Hamilton, Ferrari's Leclerc, Michael Andretti, I’ve, we’ve, Alex Albon, Romeo, Daniel Ricciardo, Alan Baldwin, Michael Perry Organizations: United, Prix, REUTERS, Williams, Formula, Austin's Circuit, McLaren, Thomson Locations: United States, Americas, Austin , Texas, U.S, , Texas, Florida, Qatar, AlphaTauri, London
Sen. Bob Menendez, D-N.J., is seen after addressing colleagues at a Democratic senate luncheon in the U.S. Capitol on Thursday, September 28, 2023. Sen. Bob Menendez on Monday pleaded not guilty to a federal indictment accusing him of conspiring to act as a foreign agent for the Egyptian government. That indictment accused Menendez of using his power and influence in ways that "secretly aided the Government of Egypt," including by sharing "sensitive U.S. Government information." Four of the co-defendants in the case pleaded not guilty last week to the charges in that updated indictment. Menendez had been granted a delay of his arraignment in order to cast previously scheduled votes in the Senate.
Persons: Sen, Bob Menendez, Menendez, Nadine Menendez, Wael Hana, confederated Organizations: Democratic, U.S, Capitol, Benz, Jersey businessmen, of, Government Locations: Manhattan, New Jersey, Jersey, of Egypt
Toyota Motor Corporation's cars are seen at a briefing on the company's strategies on battery EVs in Tokyo, Japan December 14, 2021. The Japan Mobility Show, which opens on Thursday, comes at a critical moment for the domestic industry. Toyota (7203.T), the world's top-selling automaker, this year announced a strategic pivot to battery EVs, including plans to commercialise advanced batteries and adopt die-casting technology pioneered by Tesla (TSLA.O). Toyota's shift has helped silence criticism that it was too slow to embrace battery EVs. In contrast to the darkening outlook in Japan, data from the ASEAN Automotive Federation shows that the auto market in Southeast Asia has been growing.
Persons: Kim Kyung, Koji Endo, Daniel Leussink, David Dolan, Jamie Freed Organizations: Toyota, REUTERS, Companies, Japan, Japan Mobility, Tesla, Subaru, Mazda, Mitsubishi Motors, BYD, HK, BMW, Honda, SBI Securities, Nissan, Mitsubishi, Japan Automobile Manufacturers Association, ASEAN Automotive Federation, EV upstarts, Thomson Locations: Tokyo, Japan, TOKYO, China, Southeast Asia, Thailand
Executives at Ford Motor, General Motors and Stellantis, the parent of Chrysler, invoke nonunion automakers, many of them in the South, as a competitive threat that makes it impossible for them to meet striking workers’ demands for big raises, more generous benefits and better working conditions. “Toyota, Honda, Tesla and others are loving this strike because they know the longer it goes on, the better it is for them,” Bill Ford, the executive chair of Ford Motor, said in Michigan last week. “They will win, and all of us will lose.”The United Automobile Workers union sees such statements as an attempt to play workers off one another. It views the strikes, entering their sixth week, as a first step toward better pay for not only U.A.W. members but also the nonunion workers that it plans to recruit in the future.
Persons: Tesla, Bill Ford, Organizations: Toyota, Benz, Ford Motor, General Motors, Chrysler, Honda, United Automobile Workers Locations: Kentucky, Alabama, Texas, Detroit, Michigan
Late last year, it installed 38 chargers for electric trucks operated by Maersk at two sites in the Los Angeles area. There were 1.8 million conventional medium and heavy duty commercial vehicles operating in the state in 2021, according to data from the California Air Resources Board. Arnold said electric charging sites might be more lucrative than traditional industrial outdoor storage properties. The EV-charging business' chicken-and-egg problemOne of the biggest constraints to the development of charging sites is the availability of power. PDS operates about 320 diesel rigs, Gillis said, but because of the rules, will purchase "20 to 30 electric trucks" a year to steadily electrify its fleet.
Persons: Henrik Holland, John O'Leary, O'Leary's, Holland, Crawford Arnold, Arnold, Southern California Reuters Arnold, Vernon, Rivian, Gage, Zeina, Azzi, she'd, Jim Hurless, Hurless, Michael Bresnahan, Bresnahan, Elon Musk, Tesla, Greg Pearson, Pearson, Frank Schulz, Marijan Murat, Jim Gillis, Gillis, Emil Abdelshehid, We're, Nikola, Moshe Cohen, Cohen Organizations: Shell, Prologis, Maersk, Daimler Truck North, Mercedes, Freightliner, Government, California Air Resources Board, US Department of Energy, IOS, Investors, Shipping, Southern California Reuters, Amazon, FedEx, UPS, Colorado ., Chateau Energy Solutions, Tesla, Klabin, Getty, Los, Pacific Drayage Services, Los Angeles Department of Water, PDS, Volvo, Inc Locations: Southern California, Danish, Los Angeles, Long, Los Angeles County, Torrance, Daimler Truck North America, California, Vernon, of Long Beach, Newark , New Jersey, Texas, New York City, New Jersey, Colorado, Inland, Fontana, San Bernardino, Brooklyn
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