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☆ 10 years in, GM CEO Mary Barra has built her legacy on change and crisis. 2024 will be no different
▼ + stars: | 2024-01-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNTMary Barra, CEO of General Motors, at the New York Stock Exchange, Nov. 17, 2022. GM's EV sales last year totaled 75,883 units, or 2.9% of the company's overall sales. However, a vast majority of GM's EV sales were from its now-discontinued Chevrolet Bolt models. Mary Barra, GM chair and CEO, speaks during the unveiling of the Cadillac Celestiq electric sedan in Los Angeles, Oct. 17, 2022. General Motors CEO Mary Barra testifies during a House Energy and Commerce Committee hearing on Capitol Hill in Washington, April 1, 2014.

Persons: Mary Barra, Mary Barra's, Barra, She's, Tesla, Michelle Krebs, Warren Buffett's Berkshire, EVs hasn't, Frederic J, Brown, there's, Cruise, Cruise's, Jeff Kowalsky, Darryll Harrison Jr, Mary, Barra's, Dan Akerson, Dan Ammann, Mark Reuss, Steve Fecht, Stephanie Brinley, they've, Lyft, David Einhorn's, Einhorn Organizations: General Motors, New York Stock Exchange, NYSE DETROIT, Detroit, GM, Wall, U.S, EV, Cox Automotive, Warren Buffett's Berkshire Hathaway, —, Hyundai, Kia, Bolt, EVs, Cadillac, AFP, Getty, Honda Motor, Automotive Press Association, Bloomberg, Cruise, CNBC, GM Renaissance Center Global Headquarters, P Global Mobility, Apple, Google, Energy, Commerce, Capitol Locations: Los Angeles, North America, Barra, San Francisco, Detroit, Washington

☆ Why automakers are turning to hybrids in the middle of the industry's EV transition
▼ + stars: | 2023-12-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

Sales of traditional hybrid electric vehicles, or HEVs, such as the Toyota Prius, are outpacing those of all-electric vehicles in 2023, according to Edmunds. Sales of plug-in hybrid electric vehicles, or PHEVs, accounted for only 1% of U.S. sales through November. In comparison, Ford's EV sales are up 16.2% to roughly 62,500 units, accounting for 3.5% of its total sales. Battery breakdown Both hybrids and plug-in hybrids have a traditional engine combined with EV technologies. The world's largest automaker is considered the pioneer of traditional hybrids, with the Prius.

Persons: Scott Mlyn, Biden, HEVs, EVs, There's, Jessica Caldwell, Edmunds, Morgan Stanley, Eric Watson, Jim Farley's, Jeep Wrangler, Motors, Mary Barra, It's, Mark Reuss, Stephanie Brinley, Akio Toyoda Organizations: CNBC DETROIT —, EV, Toyota Prius, Toyota, Honda Motor, Hyundai, Kia, U.S, Representatives, Kia America, CNBC, Detroit automakers, Detroit, Ford Motor, Ford, Chrysler, Jeep, Cherokee, GM, Chevrolet, Automotive Press Association, National, Traffic Safety Administration, American Automotive Policy Council, Reuters, NHTSA, P Global Mobility . Industry, EVs, Wall Street Locations: Edmunds, U.S, That's, Kia America's, China, Detroit, EVs

A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. Toyota is targeting sales of 1.5 million battery-powered vehicles a year globally by 2026. The announcement came after Toyota executives said in July the company would focus on selling hydrogen-powered trucks and cars in Europe and China. A hydrogen fuel-cell vehicle uses an electric motor like an EV but draws power from a fuel stack where hydrogen is separated by a catalyst to produce electricity. Toyota sold about 3,500 fuel-cell vehicles globally over the January-October period.

Persons: David, Dee, Delgado, Daniel Leussink, Mariko Katsumura, Lisa Shumaker, Jamie Freed Organizations: New York, REUTERS, Rights, Toyota, European Union, European Automobile Manufacturers Association, Battery, Lexus, Thomson Locations: Manhattan , New York City, U.S, Europe, EU, China

Listen and follow DealBook SummitApple Podcasts | Spotify | Amazon MusicDealBook Summit includes conversations with business and policy leaders at the heart of today’s major stories, recorded live at the annual DealBook Summit event in New York City. Elon Musk’s Starlink satellites connect every corner of the world to the internet. His electric car company, Tesla, has prodded the automotive industry toward a self-driving, battery-powered era. His 2022 purchase of Twitter promised a “common digital town square,” but a year later, the platform — now called X — has become a lightning rod for controversy. Earlier this month, IBM and other big brands pulled their spending from the social media platform after Musk endorsed an antisemitic post.

Persons: Elon Musk’s, ”, X Organizations: Spotify, Elon, Twitter, IBM Locations: New York City

☆ OpenAI CEO Sam Altman went on an 18-month, $85 million real-estate shopping spree — including a previously unknown Hawaii estate
▼ + stars: | 2023-11-30 | by ( Katherine Long | Hugh Langley | ) www.businessinsider.com time to read: +11 min

AdvertisementYears before the recent drama at OpenAI turned CEO Sam Altman into a household name, the former Y Combinator president went on an extraordinary 18-month, $85 million real-estate shopping spree, according to records reviewed by Business Insider — including a previously unreported $43 million Hawaii estate on land that locals describe as historically significant. AdvertisementSam Altman's Hawaii estate is immediately adjacent to the reconstruction of the royal temple of King Kamehameha I. Maxar TechnologiesA $43 million estate in HawaiiIn July 2021, Altman bought a twelve-bedroom estate in Kailua-Kona, on the big island of Hawaii, for $43 million. Altman's purchase of the Hawaii property has not been previously reported. AdvertisementAnnie had been unaware that her oldest brother owned property in Hawaii until Business Insider asked her about it, she said. A $27 million San Francisco homeAltman's weekday residence is a home on San Francisco's Russian Hill that was once described — inaccurately — as the most expensive home in San Francisco.

Persons: Sam Altman, Altman, —, OpenAI, he's, He's, Sam Altman's, King Kamehameha I, King Kamehameha, Jennifer Serralta, Serralta, Jack, Max, — Sam Altman, Mark Zuckerberg, Larry Ellison, Marc Benioff, Jeff Bezos, Peter Thiel, Annie Altman, Annie, Sam's, Napa Altman, Cade Metz, Bob Dickinson Organizations: Service, Business, Bloomberg Tech Summit, Wall Street Journal, YouTube, Altman, LinkedIn, Apollo, Opportunity Fund, Silicon Valley, Business Insider, San, SEC, 9Point Ventures, Uncommon Ventures, New York Times, Capital Management, San Francisco Chronicle, New Yorker, Israeli Defense Force, Tesla Locations: San Francisco, Napa, Hawaii, Napa , California, Sam Altman's Hawaii, Kailua, Kona, wakesurfing, Kauai, Lanai, San, Russian, California, Hollywood, Big Sur

☆ Car dealers are worried about an EV reckoning. I asked our transportation reporter what's going on.
▼ + stars: | 2023-11-30 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

Car dealers sent a letter urging Biden to "tap the brakes" on an electric vehicle mandate. Two-thirds of new cars must be EVs by 2032 — but dealers say EV sales are slumping, and hurting them. Local car dealers have a lot of political influence; Biden could look to expand tax incentives. AdvertisementCar dealers aren't happy with President Joe Biden's mandate to have two-thirds of all new cars be electric vehicles by 2032. I was surprised to hear about this letter from car dealers, because I thought that electric vehicles were in hot demand.

Persons: Biden, —, Joe Biden's, Axios, Nora Naughton, Biden —, Tesla, There's, Bolt, That's Organizations: Local, Service, EV, Business, Government, National Automotive Dealers Association, Car, Tesla, Ford Locations: Detroit, Washington ,

UNCHARTED WATERS Airlines Race Toward a Future of Powering Their Jets With Corn Carriers want to replace jet fuel with ethanol to fight global warming. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D.

Persons: “, ”, Jeffrey Broberg, Biden, Jake Wildman, Wildman, Lauren Riley, Amelia DeLuca, Todd Becker, United’s, Seager, et, Roy Stoltenberg, It’s, “ It’s, Mr, Stoltenberg, John, Stoltenberg douses, Megan Konar, Matt Jennen, midcentury, we’ve, Chad Friese, I’m, John Hansen, Mary, sighed Organizations: Jets, Carriers, Minnesota Well, Organization, United Airlines, Delta, New York Times, Farmers, IOWA NEB, MINN, Water Resources Research, Department of Agriculture, ”, U.S . Department of Agriculture Economic Research Service, Aviation, Delta Air Lines, Ethanol Company, University of Illinois, Ethanol, ” Industry, Nebraska Farmers Union, Sunrise, Reserve Locations: America, Ohio, Washington, Minnesota, Nebraska, MINN, WIS, MICH, IOWA, IOWA NEB . OHIO, . MO, KAN . MO, KAN, In Kansas, Glenwood, Minn, ”, Japan, Germany, U.S, Chippewa, Benson, Omaha, ., KAN ., Cairo, Neb, Iowa, Wisconsin, University of Illinois Urbana, Champaign, Wood, China, Foxhome, Platte, . Nebraska

Toyota, Toyota Industries and Aisin will sell Denso shares worth a total of about 700 billion yen ($4.7 billion) at current market prices, the two sources said. In a statement, Denso said it was considering a share sale, a buyback and other capital measures, but that nothing had yet been decided. At $4.7 billion, it would be the second-biggest such share offering in Japan this year, after the more than $9 billion sale of shares in Japan Post Bank (7182.T) in March, according to LSEG data. Denso shares, which were down almost 4% before the news, extended losses after the Reuters report and fell as much as 6.8% on the day, closing 4.9% lower. Toyota shares finished little changed, as did the benchmark Nikkei 225 (.N225).

Persons: Denso, Miho Uranaka, Daniel Leussink, Maki Shiraki, Nobuhiro Kubo, David Dolan, Jamie Freed, Miral Fahmy, Louise Heavens Organizations: Companies, Toyota, Toyota Industries, Aisin, Japan Post Bank, Tokyo Stock Exchange, Buyers, KDDI Corp, Reuters, Nikkei, Thomson Locations: TOKYO, Denso, Japan

Toyota Motor's portion will represent almost half of the roughly 10%, with the total sale seen at about 700 billion yen ($4.7 billion) at current market prices, the two sources said. A Toyota spokesperson said it was not in a position to comment on Denso, adding the contents of the Reuters report of the share sale were not something it had announced itself. Buyers of the shares are expected to largely be domestic investors, and the price has yet to be determined, the sources said. Denso shares, which were down almost 4% before the news, extended losses after the Reuters report and fell as much as 6.8% on the day, closing 4.9% lower. Toyota shares finished little changed, as did the benchmark Nikkei 225 (.N225).

Persons: Miho Uranaka, Daniel Leussink, Maki Shiraki, Nobuhiro Kubo, David Dolan, Jamie Freed Organizations: Companies, Toyota, KDDI Corp, Tokyo Stock Exchange, Reuters, Nikkei, Thomson Locations: TOKYO, Denso

☆ Global Automakers Turn to China for EV Lessons
▼ + stars: | 2023-11-27 | by ( Yoko Kubota | ) www.wsj.com time to read: 1 min

Volkswagen’s pavilion at the Guangzhou Auto Show in China. The carmaker plans to offer 30 electric models in China by 2030. Photo: Qilai Shen/Bloomberg NewsHEFEI, China— Volkswagen engineers in one of China’s electric-vehicle hubs are looking to the country’s automotive industry for clues about how to speed up manufacturing and beat back local rivals in the world’s biggest auto market. The German automaker has long been the number one manufacturer in a market dominated by gasoline-powered vehicles, but it has been losing market share as China’s market turns electric. It is now trying to figure out how to compete with upstart Chinese makers that can roll out good, affordable and highly digital electric cars—and do so in a third less time.

Persons: Qilai Shen Organizations: Guangzhou Auto Show, Bloomberg News, Volkswagen Locations: China, Bloomberg News HEFEI

☆ German export sentiment improves in November - Ifo
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

A cargo ship is seen on river Main in front of the skyline during a summer evening in Frankfurt, Germany, August 13, 2023. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsNov 27 (Reuters) - Sentiment among German exporters improved in November, although only a few sectors expected exports to increase, according to a survey by the Ifo economic institute released on Monday. The institute's export expectations indicator rose to minus 3.8 points in November from minus 6.3 points in October. "However, the export economy still isn't managing to develop any momentum," Klaus Wohlrabe, head of surveys at Ifo, said. "German companies have yet to benefit much from the economic upswing in many countries," he added.

Persons: Kai Pfaffenbach, Klaus Wohlrabe, Amir Orusov, Rachel More Organizations: REUTERS, Thomson Locations: Frankfurt, Germany, Ifo

☆ Huawei to move smart car operations to new joint company with Changan
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 26 (Reuters) - China's Huawei (HWT.UL) said on Sunday it will move core technologies and resources in its smart car unit, which has chalked up robust sales for a number of new vehicles, to a new joint company owned up to 40% by automaker Changan Auto. The new company will engage in research and development, production, sales and service of intelligent automotive systems and component solutions, Huawei said in a press release. "The new company will ... work with partners to promote innovation and leadership in smart car technology and promote the prosperity and development of the automotive industry," the release said. "The two parties will jointly support the target company to become an industry leader in automotive intelligent systems and component solutions based in China," the filing said. Huawei has repeatedly said it does not make cars on its own but only helps other automakers make better vehicles.

Persons: Yu Chengdong, Changan, Laurie Chen, Brenda Goh, Edmund Klamann Organizations: Huawei, Changan Auto, Chongqing Changan Automobile, Shenzhen Stock Exchange, Seres, Chery, Thomson Locations: BEIJING, Chongqing, China, Shenzhen, Beijing, Shanghai

☆ China hopes Russia will provide policy support to Chinese auto firms - Chinese state media
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: 1 min

Workers walk past new Chinese cars unloaded from a ship at a commercial port in Vladivostok, Russia August 25, 2023. REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsBEIJING, Nov 24 (Reuters) - China hopes Russia will give policy support for Chinese automobile enterprises to produce, sell and operate in Russia, Chinese state media cited China's ambassador to Russia as saying on Friday. China will promote Chinese and Russian integration in the automotive industry supply chain, Ambassador Zhang Hanhui was cited as saying. China is also willing to continue to give full play to the supply advantages of China's automobile industry and continue to develop models adapted to the needs of the Russian market, he said. Reporting by Liz Lee and Beijing newsroom; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Tatiana Meel, Zhang Hanhui, Liz Lee, Christopher Cushing Organizations: REUTERS, Rights, Thomson Locations: Vladivostok, Russia, Rights BEIJING, China, Beijing

☆ Nissan to invest $1.4 bln to build two new EV models in Britain
▼ + stars: | 2023-11-24 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

A staff cleans charging ports of Nissan's Leaf battery electric vehicle during the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan, November 1, 2023. Japan's third-biggest automaker said it would announce the names of the new EV models and timings for production launches at a later date. Earlier this year, Nissan raised its targets for EV models as it plays catch up in a segment dominated by newcomers like Tesla (TSLA.O) - saying it would launch 19 new EV models by 2030. The Nissan EV production announcement comes just months after India's Tata Motors (TAMO.NS) said it would invest 4 billion pounds in a UK EV battery plant to supply its Jaguar Land Rover factories. Industry experts had described the Tata battery plant as good progress, but argue Britain needs much more EV battery production capacity to maintain a viable, growing auto industry.

Persons: Kim Kyung, Makoto Uchida, Rishi Sunak, Nick Carey, Sonali Paul Organizations: Japan, REUTERS, Nissan, British, Nissan EV, India's Tata Motors, EV, Rover, Industry, Tata, Thomson Locations: Tokyo, Japan, Sunderland, Europe, Britain

LONDON (AP) — Nissan will invest more than 1 billion pounds ($1.3 billion) to update its factory in northeast England to make electric versions of its two best-selling cars, a boost for the British government as it tries to revive the country's ailing economy. The company said it's directly investing up to 1.12 billion pounds to produce electric successors to the two models. “Nissan’s investment is a massive vote of confidence in the U.K.’s automotive industry,” which contributes 71 billion pounds a year to the economy, Prime Minister Rishi Sunak said. India’s Tata Sons, which owns Jaguar Land Rover, is building a 4 billion-pound EV battery factory in the U.K. that's expected to produce about 40 gigawatt hours of battery cells every year, enough to provide half the U.K.’s electric vehicle batteries. Stellantis, parent company of British automaker Vauxhall, is investing 100 million pounds to make electric vans and cars in northwestern England.

Persons: —, it's, Rishi Sunak, Makoto Uchida, Sunak, India’s Tata Organizations: — Nissan, Nissan, BMW, India’s Tata Sons, Rover, EV, British, Vauxhall Locations: England, Sunderland, China, Europe, Oxford

☆ Inside the EV reckoning
▼ + stars: | 2023-11-23 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Tesla's price war rocked the EV market this year. AdvertisementOverall, the price war has brought down the average price paid for an EV by more than 17% this year. Read more about the EV price war:Tesla just started an electric car price war, and it's bad news for Ford and GMIt's becoming increasingly clear Tesla is just another car companyAdvertisementFord and Tesla are locked in a nasty EV price war. But dealers are starting to warn about a change in the average EV shopper that could bring a plateau to the segment. AdvertisementRead more about the changing EV customer:The EV plateau is coming.

Persons: —, Elon Musk, Tesla, GM It's, it's, It's Organizations: Service, Tesla, Ford, GM, Auto Locations: wean

☆ Nissan to make electric versions of Qashqai, Juke in Britain -Sky News
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: 1 min

[1/2] A badge is seen on the new Juke car at Nissan's car plant in Sunderland Britain, October 10, 2019. REUTERS/Phil Noble/ File Photo Acquire Licensing RightsCompanies Nissan Motor Co Ltd FollowLONDON, Nov 22 (Reuters) - Japanese carmaker Nissan Motor Co (7201.T) will announce on Friday that it will build the electric versions of its Qashqai and Juke models at its plant in Sunderland, northern England, Sky News reported on Wednesday. Citing automotive industry sources, Sky reported Nissan would commit hundreds of millions of pounds to the project. While no upfront taxpayer money will be involved, the British government is expected to provide guarantees, the report added. Nissan representatives could not immediately be reached for comment.

Persons: Phil Noble, Kylie MacLellan, Nick Carey Organizations: REUTERS, Nissan Motor, Nissan, Sky News, Thomson Locations: Sunderland Britain, Sunderland, England

TOKYO, Nov 20 (Reuters) - Shares of Japan's Panasonic Holdings (6752.T) have rallied about 10% since it announced on Friday a plan to sell a stake in its automotive systems business and the unit's potential listing raised broader restructuring hopes. Over the last decade, Hitachi's shares have more than trebled, when taking into account dividends, compared to a 87% return by Panasonic. Investors reacted positively to the potential sale of the stake in the automotive unit, which makes cockpit and electronics systems. With its plan, Panasonic likely starts a journey to make itself into a company with a higher return on equity, they said. Panasonic's automotive unit is separate from its energy unit that makes batteries for electric vehicles, including those from Tesla (TSLA.O).

Persons: Damian Thong, Thong, Jefferies, Hitachi's, Ulrike Schaede, Daniel Leussink, Simon Cameron, Moore Organizations: Japan's Panasonic Holdings, Apollo Global Management, Panasonic, Hitachi, Macquarie, Investors, University of California San, Thomson Locations: TOKYO, Tokyo, Singapore, University of California San Diego

☆ Ben Foldy — Reporter at The Wall Street Journal
▼ + stars: | 2023-11-19 | by ( Ben Foldy | ) www.wsj.com time to read: +1 min

Ben FoldyBen Foldy is an investigative reporter in The Journal's finance section, based in New York City. He often writes about fraud, financial crime, cryptocurrency and corporate malfeasance. Before this role, Ben covered the automotive industry from Detroit, with a focus on safety, federal policy, startups and the electric transition. In 2022, Ben reported and hosted the second season of The Journal's "Bad Bets" podcast, focused on the rise and fall of Nikola founder Trevor Milton. Ben worked for Bloomberg News and the Financial Times before joining the Journal in 2019.

Persons: Ben Foldy Ben Foldy, Ben, Nikola, Trevor Milton, Craig Newmark Organizations: Bloomberg News, Financial Times, Craig Newmark Graduate School of Journalism, City University of New, McGill University Locations: New York City, Detroit, multibillion, Carvana, City University of New York

The German auto giant isn't alone in its struggles, according to CNBC's analysis of 10 global car brands. While Volkswagen remains by far a giant in China's car market with around 3 million vehicles sold a year, the German brand hasn't gained much traction in the electric car space. In July, the company opted to invest about $700 million into Chinese electric car start-up Xpeng to jointly develop two cars for China. Toyota , which has struggled in the market transition to electric cars, is set for its worst year of overall China sales since 2020 with about 1.8 million vehicle sales, CNBC found. Tough competitionAlthough China's new energy market is growing quickly, competition is fierce, even for domestic brands.

Persons: Evelyn Cheng, Alvin Liu, Liu, Bernstein, BYD, Tesla, Nio Organizations: CNBC, Volkswagen, Nissan, Hyundai, China Passenger Car Association, Toyota, Canalys, Honda, BYD, Tesla's, Plaid — Locations: Europe, China, North America, Evelyn Cheng BEIJING, Shenzhen, Shanghai, Beijing, German

☆ Infineon reports better-than-expected 2023 revenue on semiconductor demand
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

Infineon Technologies AG logo is seen during German Economy Minister Robert Habeck and Foreign Minister Annalena Baerbock's visit, in Dresden, Germany July 13, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBERLIN, Nov 15 (Reuters) - German chip manufacturer Infineon (IFXGn.DE) reported higher-than-expected revenue for its 2023 fiscal year on Wednesday as demand for semiconductors, particularly in the electromobility and renewable energy sectors, remains unabated. Revenue was 16.31 billion euros ($17.72 billion), up 15% from the year before, slightly beating company-provided analyst expectations of 16.22 billion euros. "Structural semiconductor growth in the areas of renewable energy, electromobility – especially in China – and microcontrollers for the automotive industry remains unabated," said Chief Executive Jochen Hanebeck. The company is forecasting slightly slower revenue growth for the 2024 fiscal year of 17 billion euros, plus or minus 500 million.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Jochen Hanebeck, Miranda Murray, Linda Pasquini Organizations: Infineon, REUTERS, Rights, Revenue, Thomson Locations: Dresden, Germany, China

☆ US-China cooperation creates a 'win-win' for the auto industry: Hesai Technology
▼ + stars: | 2023-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUS-China cooperation creates a 'win-win' for the auto industry: Hesai TechnologyLouis Hsieh, CFO of Hesai Technology, a Shanghai-based maker of laser sensors, says he hopes for greater US-China cooperation. He discusses the benefits of AI for the automotive industry.

Persons: Hesai Technology Louis Hsieh Organizations: Hesai Technology Locations: China, Shanghai

☆ E-Flight Challenge pitched a car against a plane -- and the car won
▼ + stars: | 2023-11-14 | by ( Miquel Ros | ) edition.cnn.com time to read: +12 min

Members of the E-Flight Challenge team lined up to watch the battery-powered airplane gracefully descend on the island of Norderney, just off the northwest coast of Germany. The long road ahead for electric aviationYou could say that the E-Flight Challenge takes its inspiration from the early days of aviation. The Elektra Trainer used in the E-Flight Challenge, for example, can carry a maximum of two people. Miquel RosIn this context, the E-flight Challenge served as an illustration of the challenges of electric flight – but also of its promise. The progress compared to just three years ago has been astonishing!” explains Morell Westermann, one of the E-Flight Challenge initiators.

Persons: Louis, Charles Lindbergh’s, Heart Aerospace –, –, Miquel Ros Italy’s Tecnam, China’s, Cuberg, ” Robin Riedel, Riedel, Norbert Werle, Tesla, Werle, ”, John Langford, Miquel Ros, Morell Westermann, Westermann Organizations: CNN, Lucid Motors Air, Louis Blériot’s, Channel, Heart Aerospace, United Airlines, Royce, Norwegian, Widerøe, Airbus, Boeing, Aerospace, McKinsey, Alamy, “ Aircraft, Lucid Motors Locations: Norderney, Germany, Gelnhausen, Frankfurt, Norway, Swedish, California, Berlin, The Virginia, “, Swiss

☆ Stellantis trimming nonunion staff in wake of labor deal
▼ + stars: | 2023-11-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Stellantis is offering buyouts to half of its salaried US staff in a cost cutting move. That comes to 6,400 of the 12,700 nonunion staff. “As the U.S. automotive industry continues to face challenging market conditions, Stellantis is taking the necessary structural actions to protect our operations and the company,” said the company’s statement. Stellantis has yet to put any pure EV cars for sale in the US market and has more to do to catch up. General Motors and Ford, which also just reached tentative labor deals with the UAW, both announced cuts to their salaried staff, with both layoffs and buyouts, in the months before the strike.

Persons: New York CNN —, ”, Stellantis Organizations: New, New York CNN, Jeep, Dodge, Chrysler, “, Stellantis, United Auto Workers, UAW, Tesla, General Motors, Ford Locations: New York

☆ Stellantis offers buyouts to roughly half of U.S. salaried workers
▼ + stars: | 2023-11-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Chrysler parent Stellantis is offering buyouts to roughly half of its U.S. white-collar employees to reduce headcount and cut costs for the automaker's North American operations. Both General Motors and Ford Motor also have cut salaried workers over the past year. "As the U.S. automotive industry continues to face challenging market conditions, Stellantis is taking the necessary structural actions to protect our operations and the Company," Stellantis said in an emailed statement. A Stellantis spokeswoman declined to comment on how many people or total costs the company would like to cut. This marks the second round of salaried buyouts this year for Stellantis.

Persons: Carlos Tavares, Stellantis, Mark Stewart Organizations: New York, Auto, DETROIT, Chrysler, U.S, General Motors, Ford Motor, Company, Stellantis, Wall Street Journal, Employees Locations: Manhattan , New York

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