DIRS.INFO The most relevant business & tech news

Here's the latest:ELECTRIC VEHICLE FRICTIONBiden's domestic policy is embodied in working to electrify roadways across the United States. Getting more electric vehicles on the roads is central to his climate change agenda, ensuring the vehicles are "Made in America" is part of his commitment to restore manufacturing jobs. But the IRA's consumer tax credits are tightly linked to the cars' and batteries being made in the U.S., roiling allies in Europe and Asia whose companies sell into U.S. markets. Instead, Japanese and U.S. officials struck a trade deal on electric vehicle battery minerals that expands eligibility for the $7,500 per vehicle EV tax credits in the IRA. NEW RACE FOR SUBSIDIESThe promise of corporate tax credits has renewed interest in investing in the U.S., and Europe has responded with subsidies of their own.

☆ Russian nationalist writer describes surviving attack Moscow blamed on U.S., Ukraine
▼ + stars: | 2023-05-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows a damaged white Audi Q7 car lying overturned on a track next to a wood, after Russian nationalist writer Zakhar Prilepin was allegedly wounded in a bomb attack in a village in the Nizhny Novgorod region, Russia, May 6, 2023. REUTERS/Anastasia MakarychevaMay 7 (Reuters) - The prominent Russian nationalist writer, Zakhar Prilepin, on Sunday described breaking both legs in a car bomb that killed his driver and which Moscow blamed on the United States and Ukraine. Russia's Foreign Ministry blamed Ukraine and the Western states backing it, particularly the United States, for the attack on the writer, an ardent proponent of Moscow's military campaign in Ukraine. Mykhailo Podolyak, a senior advisor to Ukrainian President Volodymyr Zelenskiy, said he believed Russian authorities had staged the attack. He said the regional Nizhny Novgorod governor, Gleb Nikitin, had sent a helicopter to fly him to the city in 16 minutes, sparing him a three-hour drive.

☆ Driving This Thing, She Always Takes the Long Way
▼ + stars: | 2023-05-06 | by ( A.J. Baime | Photographs Maïwenn Raoult For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Elizabeth Weinberg , 40, a Los Angeles-based photographer, on her 1974 Volkswagen Thing, as told to A.J. I have a son, so I need a safe, reliable car. For years, I looked around for a Mercedes from the ’70s or ’80s, what they call million-mile cars. Then I came across the Thing; I saw a picture of one online. So, in 2020, I started looking.

The novelist is an outspoken champion of Russia's war in Ukraine and has boasted of taking part in military combat there. He was the third prominent pro-war figure to be targeted by a bomb since Moscow's full-scale invasion of its neighbour in February 2022. [1/2] A view shows a destroyed vehicle, which transported Russian writer Zakhar Prilepin allegedly wounded in a car bombing in the Nizhny Novgorod region, Russia, May 6, 2023. On Wednesday, Russia accused Ukraine of trying to kill President Vladimir Putin with a night-time drone attack on the Kremlin. TASS quoted Kremlin spokesman Dmitry Peskov as declining to comment on Saturday's car bomb in the absence of information from investigators.

☆ VW to fire top executives at software unit Cariad, source says
▼ + stars: | 2023-05-06 | by ( Jan Schwartz | ) www.reuters.com time to read: +1 min

The unit - set up under former VW group CEO Herbert Diess -has exceeded its budget and failed to meet goals, contributing to Diess' departure and replacement by Oliver Blume last September. A VW spokesperson said the German company was analysing Cariad and its projects. A number of decisions have been made, but no decisions on personnel, the spokesperson said, adding that Cariad and vehicle software development remained integral to Volkswagen's group strategy. The problems at Cariad have delayed work on important new vehicle models Porsche e-Macan and Audi Q6 e-tron. The planned launch of company-wide structural car software, initially designed to enable the fourth of five levels of autonomous driving from 2026, has been postponed by two years.

☆ Auto giants are setting their sights on a new growth market for EVs: India
▼ + stars: | 2023-05-04 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

When it comes to electric cars, however, the country is playing a game of catch up. During a recent interview with CNBC's Charlotte Reed, Thierry Koskas accepted that the market in India was "just starting." Citroën India, which launched the fully electric ë-C3 in Feb. 2023, is not alone when it comes to making a move in India's nascent electric car sector. According to the IEA, Tata was responsible for more than 85% of battery electric vehicle sales within India last year. Other Indian firms jostling for position in the sector include Mahindra and Mahindra and Ola Electric.

☆ Former Audi Chief to Plead Guilty in Emissions Scandal
▼ + stars: | 2023-05-03 | by ( Jack Ewing | Melissa Eddy | ) www.nytimes.com time to read: +1 min

Rupert Stadler, the former chief executive of the automaker Volkswagen's Audi division, has agreed to plead guilty to charges in Germany related a vast emissions cheating scandal, becoming the highest-ranking executive to be convicted in the case, which changed the direction of the car industry. Mr. Stadler, 60, who was also a member of Volkswagen’s management board, was accused of allowing diesel cars made by Audi to remain on sale even after the parent company admitted in 2015 that millions of its vehicles were equipped with software designed to mask excess emissions. The scandal cost Volkswagen tens of billions of dollars in fines, legal settlements and lawyers’ fees and had a lasting impact on the auto industry. It inspired European lawmakers to impose much tighter limits on auto emissions, accelerating a transition from internal combustion engines to electric cars. Volkswagen became one of the first big German automakers to invest heavily in battery power, which executives saw as a way to restore the company’s tarnished reputation.

☆ Former Audi boss agrees deal to make confession in diesel emissions scandal
▼ + stars: | 2023-05-03 | by ( Jörn Poltz | ) www.reuters.com time to read: +2 min

The former CEO has been on trial since 2020 over his role in the scandal after parent group Volkswagen (VOWG_p.DE) and Audi admitted in 2015 to having used illegal software to cheat on emissions tests. The trial is one of the most prominent court proceedings in the aftermath of the diesel scandal at Volkswagen (VOWG_p.DE) and its subsidiary Audi. Revelations that millions of emissions tests had been manipulated emerged in September 2015. Stadler was accused of failing to stop the sale of the manipulated cars after the scandal became known. Stadler has been on trial along with former Audi executive Wolfgang Hatz and an engineer.

☆ Why Tesla keeps making the Model S and X even as sales dwindle
▼ + stars: | 2023-05-02 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Production ramped up slowly, but by 2017, Tesla was selling more than 100,000 a year of the Model S and its SUV sibling, the Model X. Similarly, pricing for the Model X SUV starts at about $98,000 but the smaller Model Y starts at just $47,000. Still, much like the S-class for Mercedes-Benz, the Model S remains Tesla’s flagship model, representing the brand. In fact, within its competitive class, the Tesla Model S and X are good sellers. By this point in their long lives, the Tesla Model S and X have become a stream of fairly steady profits, said Cox.

The Supreme Court temporarily halted court orders that would have impacted the availability of an abortion drug. A Supreme Court decision Friday to keep available — for now — the widely used abortion pill mifepristone was met with relief from one side of the debate, disappointment from the other and a vow from both to keep fighting. Maura Healey of Massachusetts called the court’s decision a “victory” for abortion patients and providers. While statements of muted celebration poured in from elected Democrats and groups supporting abortion rights, comment from Republicans and anti-abortion groups was noticeably sparser. Attorney General Andrew Bailey of Missouri, who opposes abortion, said through a spokesman that the decision was a disappointment.

[1/3] BMW's concept model i Vision Dee is unveiled during an event at the Auto Shanghai show, in Shanghai, China April 18, 2023. While the battery-electric vehicle market share of German automakers in China is rising, it is still miniscule. The EV sales of all four German brands added up to only a quarter of BYD's in 2022. "The Chinese market is no longer as stable for German carmakers as it was," Thomas Luk, partner at management consultancy Kearney, said on the sidelines of the Shanghai show. Many are also adopting direct sales, an approach German automakers like BMW and Mercedes-Benz have also said in recent months they are moving towards.

☆ I started my Turo business with one car and grew my fleet to 69 cars. Now I can afford a luxury apartment and multiple vacations every year.
▼ + stars: | 2023-04-19 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +5 min

Natalia Zorina is a Turo host in Miami who started her business on the car-rental app in 2018. I started Turo as a side hustle with one carI'm from Ukraine and moved to the US in 2017. I started renting our family car, a 2011 Porsche Cayenne, on Turo in 2018. Luxury family cars, like Mercedes SUVs, are also in demand because tourists in Miami come here to enjoy the luxury vibe of the city. In my fleet, I have a yellow car, orange car, blue cars, green cars — I have all sorts of colors.

☆ Polestar’s new SUV has no back window
▼ + stars: | 2023-04-19 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

The Polestar 4 is a “coupe-shaped” SUV, with a rear roof that slopes down rather than having a flat back end. These cameras provide a better view than one could get using the inside rear view mirror, anyway, especially in an SUV. Beside that, many vehicles also have camera-based rear view mirrors inside the cabin instead of just the regular reflecting mirror. That way, the rear view “mirror” always has a clear view, even if there are tall passengers or cargo in the back. The Polestar’s 4’s moonroof stretches farther back than it could if there were a back window, giving those in the back a better look at the sky.

☆ Fewer cars qualify for $7,500 EV tax credit. Here are 2 alternatives
▼ + stars: | 2023-04-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

A $4,000 tax credit for used EVswatch nowThe Inflation Reduction Act also created a tax credit for consumers who buy used electric or fuel-cell vehicles. The tax break for used cars, which took effect this year, is worth $4,000 or 30% of the sale price, whichever is less. Those income limits are "much lower" than the one that applies to the $7,500 tax credit for new vehicles, said Katherine Breaks, a managing director in KPMG's tax credit and energy advisory services group. "If I don't have $4,000 of tax liability, what's the tax credit worth to me? A tax break for leased EVsAlternatively, consumers also appear poised to get a tax break worth up to $7,500 for leasing new electric passenger vehicles.

☆ VW, Rivian, Nissan, BMW lose access to US EV tax credits
▼ + stars: | 2023-04-17 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Aly Song/File PhotoApril 17 (Reuters) - The U.S. Treasury said on Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new rules for battery sourcing. VW said it was "fairly optimistic" the ID.4 SUV will qualify for the tax credit. Treasury also disclosed General Motors Co (GM.N) electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVs would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury in December said EVs ineligible for the $7,500 consumer tax credit could qualify for a commercial leasing $7,500 credit.

☆ VW, Rivian, Nissan, BMW lose access to U.S. EV tax credits
▼ + stars: | 2023-04-17 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Aly Song/File PhotoApril 17 (Reuters) - The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. Treasury also disclosed General Motors (GM.N) electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Earlier, Ford Motor (F.N) and Chrysler-parent Stellantis (STLAM.MI) said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury in December said EVs ineligible for the $7,500 consumer tax credit could qualify for a commercial leasing $7,500 credit.

☆ The $25,000 electric vehicle is coming, with big implications for the auto market and car buyers
▼ + stars: | 2023-04-16 | by ( Tim Mullaney | ) www.cnbc.com time to read: +9 min

And as the Biden administration pushes changes that seek to aggressively remake the car market in favor of EVs more quickly than previously anticipated. Tesla's lowest-priced model today is the Model 3 base MSRP of $41,990. There are also more financing options available in the auto loan market designed specifically for environmentally friendly cars. "There's nothing wrong with having a basic car as a first car. Tesla said its overall efforts have driven the cost of drive units, which include the car's electric motor, as low as $1,000.

☆ Salone Preview: A First Look at the News From Milan Design Week
▼ + stars: | 2023-04-15 | by ( Sarah Medford | ) www.wsj.com time to read: +1 min

When it comes to putting on a design show, the city of Milan can be the great equalizer, making room within its ancient neighborhoods and grand piazzas for the first-time exhibitors, the one-off projects and the distant dispatches beside legacy Italian furniture brands and giants like Google and Audi. They all see the annual Salone del Mobile furniture fair and concurrent Milan Design Week events, which run April 17–23 this year, as a testing ground and audience builder. But for visitors, a trip to the show offers more than just inspiration: It’s a veiled excuse for sourcing innovative furnishings and objects for projects back home. Lighting will be a major focus this year, as the Euroluce fair makes its biennial visit, and young designers will be well-represented at the Alcova and Superdesign presentations. Below, some highlights of the week ahead.

☆ China's Zeekr hires ex-Lexus brand veteran to helm Europe operations -memo
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, April 14 (Reuters) - China's Zeekr has hired a former Lexus executive to helm its operations in Europe, according to a memo seen by Reuters, as the electric vehicle (EV) maker plans to sell into the region later this year. Spiros Fotinos, who spent 24 years with Toyota (7203.T) and led the brand management of Lexus globally, joined Zeekr in September as the chief executive officer of Zeekr Europe to oversee the brand's operation in the region, the memo showed. The Geely-owned (GEELY.UL) (0175.HK) brand said on Wednesday it planned to offer the SUV-styled Zeekr X and its Zeekr 001 EV sedan in western Europe. Zeekr previously said it would start delivering in Europe in the fourth quarter of this year. It aims to sell 140,000 Zeekr cars this year, doubling the figure in 2022, An added.

☆ 4.screen, a startup that enables retailers to advertise to drivers through in-car displays, just raised $23 million with this 11-slide pitch deck
▼ + stars: | 2023-04-04 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

4.screen, a startup that enables retailers to advertise through in-car displays, just raised $23 million. A startup that enables retailers to advertise to drivers on the road and in real-time through a vehicle's connected display has raised $23 million in fresh funds. In addition to in-car video ads, the startup also displays search highlights, branded map pins, and in-car offers. The startup uses car sensor data allows the startup to be as specific as possible with its suggestions. "We make sure the right content is shown to the right partner at the right time — you only see a gas station when your fuel is low," cofounder and CEO Fabian Beste told Insider.

☆ These electric vehicles need their batteries replaced most often
▼ + stars: | 2023-03-29 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

EV battery replacements could cost anywhere from $5,000 to $20,000, according to Recurrent. Recurrent studied how common it was for early EV models' batteries to be replaced. Including the two well-known EV battery pack recalls raises that percentage of battery replacements to 6.5%, according to Recurrent, or 975 of the 15,000. The Tesla Model 3 had one of the lower rates of battery replacement. David Zalubowski/APWhy does the likelihood of battery replacement matter?

☆ EU was set to ban internal combustion engine cars. Then Germany suddenly changed its mind
▼ + stars: | 2023-03-24 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +8 min

CNN —When EU lawmakers voted to ban the sale of new combustion engine cars in the bloc by 2035, it was a landmark victory for climate. With cars and vans responsible for around 15% of its total greenhouse gas emissions, a phase-out of polluting vehicles is a key part of EU climate policy. The law envisions a total ban on the sale of new diesel and gasoline cars by 2035. Germany is now pushing against the idea that all internal combustion engines must be banned. Other European countries, including Italy, Poland and the Czech Republic, have joined Germany in demanding the exception.

EV made up almost 12% of all car sales in Singapore last year, up from almost 4% in 2021, according to the Land Transport Authority. Still, EVs represented just 1% of cars on the road, a Reuters analysis of ownership data found. In Singapore, a small island with an extensive public transport system, only about 12 cars are owned per 100 people. Over the past decade, the number of Ferraris (RACE.MI) in Singapore has grown by 67% and Lamborghinis by 38%. ($1 = 1.3264 Singapore dollars)Reporting by Xinghui Kok; additional reporting by Kevin Krolicki; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Y Combinator-backed headless commerce startup Vue Storefront just raised $20 million with this 14-slide pitch deck
▼ + stars: | 2023-03-23 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Y Combinator-backed Vue Storefront has developed a frontend system for e-commerce sites. Vue Storefront, a Y Combinator-backed startup that aims to improve customers' experiences with e-commerce sites, just raised $20 million in fresh funds. The Polish company, founded in 2020, has built a plug-and-play frontend system for marketplace sites. This is what customers see and interact with, rather than the behind-the-scenes backend system, and is known as "headless commerce". Vue Storefront is rooted in open-source development, having spun out from a design agency.

☆ Mexico makes lots of electric cars, but few Mexicans drive them
▼ + stars: | 2023-03-21 | by ( Aida Pelaez-Fernandez | ) www.reuters.com time to read: +5 min

General Motors Co, Ford Motor Co, BMW and Volkswagen's Audi unit also are producing EVs in Mexico, or plan to. "There are still a number of issues that need resolving in Mexico before there's a massive influx of electric cars," said Mario Hernandez, KPMG's lead manufacturing partner in Mexico. Hernandez said drawbacks included a lack of subsidies for buyers, high costs for installing charging devices at homes and a shortage of public charging stations, vital for longer journeys. Mexico has about 1,100 charging stations nationwide, mostly in the capital and other major cities, according to AMIA. Pedro Corral, director of operations for EV charging stations platform Evergo, drives his all-electric i3 BMW around Mexico City.

Search resuls for: "audi"

25 mentions found