Interesting Car/Truck Manufacturer News

Weather Man

Persistance Is A Bitch
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XPeng takes the lidar route with autonomous driving
Nov. 21, 2020 9:44 AM ET|About: XPeng Inc. (XPEV)|By: Clark Schultz, SA News Editor


Light Detection and Ranging (LIDAR) advances from old-school sonar and radar by using laser light pulses instead of sound or radio waves to scan the surrounding environment. It thus maps surroundings "at the speed of light."

XPeng Motors (NYSE:XPEV) announced at the Guangzhou Motor Show that its next-generation autonomous driving architecture will include lidar technology.

The Chinese EV automaker said the adoption of lidar will be a breakthrough with it significantly improving the accuracy of positioning relative to other vehicles and objects, even in environments without sufficient lighting.

"The new hardware architecture is a combination of high-definition cameras, millimeter-wave radars, ultrasonic sensors, Lidar, high-precision positioning and mapping systems, all powered by a high-performance computing platform. Equipped with a total of 32 sensors, the system provides the strongest hardware redundancy, effectively avoiding single-system failure to deliver enhanced safety protection. It will also cover more usage scenarios, effectively enabling Xpeng vehicles to perform low-speed Navigation Guided Pilot functions for city driving."

Xpeng is set to become the first passenger vehicle maker to add lidar sensors to mass-produced cars next year.
 

kazman

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See? Now that's why I'm not in charge.

I don't have the vision to come up with that outside the box thinking.
 

Weather Man

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GM hits back on Trump effort to bar California emissions standards - Reuters
Nov. 23, 2020 2:19 PM ET|About: General Motors Company (GM)|By: Niloofer Shaikh, SA News Editor


With intention to work with President-elect Joe Biden, who has made boosting electric vehicles a top priority, General Motors (GM +4.4%) will no longer back the Trump administration’s effort to bar California from setting its own emissions rules in an ongoing court fight.

GM Chief Executive Mary Barra said in a letter to environmental groups it was “immediately withdrawing from the preemption litigation and inviting other automakers to join us.”

Barra spoke to California Governor Gavin Newsom and said in her letter she believes “the ambitious electrification goals of the president-elect, California, and General Motors are aligned, to address climate change by drastically reducing automobile emissions.”

GM has laid out an ambitious strategy to boost EV sales. It plans to increase spending on future electric models by 35% to more than $27B, It is also spending $2B to transition Tennessee plant for electric vehicles and is converting Detroit-Hamtramck plant to produce only electric vehicles.

In 2019, GM joined Toyota Motor (NYSE:TM), Fiat Chrysler Automobiles NV (NYSE:FCAU) and other automakers in backing the Trump administration in its bid to bar California from setting its own fuel efficiency rules or zero-emission requirements for vehicles.

Other car companies including Ford (NYSE:F), Honda (NYSE:HMC) and Volkswagen (OTCPK:VWAGY) which announced a voluntary deal with California in July 2019 on emissions rules, did not intervene on the administration’s side.

Other automakers backing the Trump administration include Hyundai Motor (OTCPK:HYMLF), Mazda (OTCPK:MZDAY), Nissan Motor (OTCPK:NSANY) , Kia Motors (OTCPK:KIMTF) and Subaru (OTCPK:FUJHY).

California is the largest U.S. auto market, accounting ~11% of all U.S. vehicle sales.
 

Weather Man

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Tesla up more than 6% and almost adds a Ford to its market cap
Nov. 23, 2020 2:56 PM ET|About: Tesla, Inc. (TSLA)|By: Clark Schultz, SA News Editor


In almost ho-hum fashion. Tesla (NASDAQ:TSLA) is up 6.62% on volume of over 40M shares and cruised to a new high of $525.15 earlier in the session.

Not looking to take any cheap shots at Ford (NYSE:F), but today's market cap gain for Tesla isn't all that far off from the total market cap for the Blue Oval of ~$35B.

The two bigger stories of the day are that Tesla says it will push out a new software update in response to the hack over the weekend and LG Chem is reportedly set to supply battery cells for the Model Y in China.

There is also plenty of general enthusiasm over the impact of a Biden administration for the EV sector and hopes that EV sales in China will accelerate with the support of Beijing. On the latter note, Wedbush Securities analyst Dan Ives thinks China presents eight to nine times the opportunity for EVs in the near-term as sales in the U.S. Even Citron's Andrew Left sees upside in China for many EV players, with the wide range of incomes allowing companies to attack different price points.

Earlier: Tesla gains after Wedbush points to major inflection of global EV demand and electric vehicle names head higher led by Kandi, Ayro, and Li Auto
 

RedVenom48

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GM hits back on Trump effort to bar California emissions standards - Reuters
Nov. 23, 2020 2:19 PM ET|About: General Motors Company (GM)|By: Niloofer Shaikh, SA News Editor


With intention to work with President-elect Joe Biden, who has made boosting electric vehicles a top priority, General Motors (GM +4.4%) will no longer back the Trump administration’s effort to bar California from setting its own emissions rules in an ongoing court fight.

GM Chief Executive Mary Barra said in a letter to environmental groups it was “immediately withdrawing from the preemption litigation and inviting other automakers to join us.”

Barra spoke to California Governor Gavin Newsom and said in her letter she believes “the ambitious electrification goals of the president-elect, California, and General Motors are aligned, to address climate change by drastically reducing automobile emissions.”

GM has laid out an ambitious strategy to boost EV sales. It plans to increase spending on future electric models by 35% to more than $27B, It is also spending $2B to transition Tennessee plant for electric vehicles and is converting Detroit-Hamtramck plant to produce only electric vehicles.

In 2019, GM joined Toyota Motor (NYSE:TM), Fiat Chrysler Automobiles NV (NYSE:FCAU) and other automakers in backing the Trump administration in its bid to bar California from setting its own fuel efficiency rules or zero-emission requirements for vehicles.

Other car companies including Ford (NYSE:F), Honda (NYSE:HMC) and Volkswagen (OTCPK:VWAGY) which announced a voluntary deal with California in July 2019 on emissions rules, did not intervene on the administration’s side.

Other automakers backing the Trump administration include Hyundai Motor (OTCPK:HYMLF), Mazda (OTCPK:MZDAY), Nissan Motor (OTCPK:NSANY) , Kia Motors (OTCPK:KIMTF) and Subaru (OTCPK:FUJHY).

California is the largest U.S. auto market, accounting ~11% of all U.S. vehicle sales.
Lol, enjoy those states "rights" California.
 

Weather Man

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Take the money if you don't want to sell EV's, they won't be nice the 2nd time.

You’re either in our you’re out.

Cadillac is offering dealers up to $500,000 to relinquish their franchises if they’re not willing to update their stores to sell the brand’s upcoming electric cars.

Dealerships will require approximately $200,000 worth of investments in charging and service upgrades to accommodate the new models, which kick off with the Lyriq SUV scheduled to arrive in early 2022, Automotive News reported.

Cadillac offering $500G to buy out dealers not willing to invest in EV future | Fox Business
 

RedVenom48

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It's funny watching obvious pandering from GM for a market that isn't mature, especially considering the adoption rate and lack of infrastructure to handle their new EV utopia.
 

GTSpartan

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Take the money if you don't want to sell EV's, they won't be nice the 2nd time.

You’re either in our you’re out.

Cadillac is offering dealers up to $500,000 to relinquish their franchises if they’re not willing to update their stores to sell the brand’s upcoming electric cars.

Dealerships will require approximately $200,000 worth of investments in charging and service upgrades to accommodate the new models, which kick off with the Lyriq SUV scheduled to arrive in early 2022, Automotive News reported.

Cadillac offering $500G to buy out dealers not willing to invest in EV future | Fox Business

Dealer franchises are an antiquated business model anyway, in need of a major revamp. Tesla, for all their quirks and issues, will break that paradigm as well. It'll be a political battle though, with the dealer lobby not going quietly.
 

CobraBob

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Take the money if you don't want to sell EV's, they won't be nice the 2nd time.

You’re either in our you’re out.

Cadillac is offering dealers up to $500,000 to relinquish their franchises if they’re not willing to update their stores to sell the brand’s upcoming electric cars.

Dealerships will require approximately $200,000 worth of investments in charging and service upgrades to accommodate the new models, which kick off with the Lyriq SUV scheduled to arrive in early 2022, Automotive News reported.

Cadillac offering $500G to buy out dealers not willing to invest in EV future | Fox Business
LOL. I just read that news on Fox and was going to post it here. You beat me to it. $200K is a lot of money for dealers to have to spend to upgrade their facilities for EV charging and servicing upgrades. But, they don't have much choice. Upgrade, or you're out! Other dealerships, of course, will be faced with similar upgrades.

Nick, will your own dealership have to spend a lot of money for upgrades? Will smaller dealership be forced out as a result of not being able to invest that amount of money in upgrades?
 

CobraBob

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I hope this wasn't already posted somewhere.

Ram 1500 Built to Serve | 2020 & 2021 | Special Edition

DRIVEN BY HONOR
Introducing a new lineup of Ram 1500 Built to Serve special editions. Each truck in this limited quantity lineup is designed with patriotic details in homage to each branch of the American Armed Services. Each edition comes in two limited quantity exterior colors and certain colors may be sold out at this time.

Available on the Ram 1500 Big Horn®/Lone Star model, every truck in the Built to Serve lineup comes with American Armed Services-inspired interior and exterior details like custom contrast stitching, American flag decals, a locking center console and more.

With your choice of either a Gator Green or Diamond Black (sold out) exterior, this 2020 Ram 1500 edition is inspired by those who protect and defend on land. The interior comes custom with contrasting graystone seat fabric and light frost interior stitching. Limited quantities available.
BTS-Gator-Green-Desktop.jpg.image.1440.jpg
 

Weather Man

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Volkswagen raises electric vehicle targets in Europe
Nov. 27, 2020 7:06 AM ET|About: Volkswagen AG ADR (VWAGY)|By: Clark Schultz, SA News Editor


Volkswagen (OTCPK:VWAGY) is planning to develop a small electric car for the mass market, according to Reuters.

The German automaker is looking to be well positioned for a new green era under its Small BEV (Battery Electric Vehicle) program.

The new all-electric EV models is said to around the size of a Polo and cheaper than Volkswagen's ID.3 electric car, which went on sale in September and blew past Tesla (NASDAQ:TSLA) and Renault (OTC:RNSDF) models to become the best selling electric car in Europe in October

Volkswagen execs have said that the European Union's more stringent emissions targets will force it to boost the proportion of hybrid and electric vehicles in Europe to 60% of production by 2030 from a previous target of 40%.

The VW brand currently plans to build 1.5M electric cars by 2025.
 

Weather Man

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GM eyes banking charter for auto lending business - WSJ
Nov. 27, 2020 3:16 PM ET|About: General Motors Company (GM)|By: Carl Surran, SA News Editor


General Motors (NYSE:GM) wants to get back into the banking business, and plans to apply for a banking charter that would allow its lending unit to hold deposits and expand its auto finance business, WSJ reports.

General Motors Financial Company has been talking to federal and state banking regulators for months about forming an industrial loan company and could file applications to do so as early as next month, according to the report.

GM used this type of charter to operate GMAC, its former lending arm that nearly failed under the weight of subprime mortgages and was bailed out by the U.S. government during the 2008 financial crisis.
 

Weather Man

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Hyundai, Kia to pay $210M in combined penalties to U.S. regulator
Nov. 27, 2020 2:57 PM ET|About: Hyundai Motor Company (HYMLF)|By: Carl Surran, SA News Editor


U.S. units of Hyundai (OTCPK:HYMLF) and Kia (OTCPK:KIMTF) agree to pay a record $210M in combined civil penalties after the National Highway Traffic Safety Administration said they failed to recall 1.6M vehicles for engine issues in a timely fashion.

The NHTSA says the two affiliated Korean automakers agreed to consent orders after they had inaccurately reported some information to the agency regarding the recalls in 2015 and 2017 for manufacturing issues that could lead to bearing wear and engine failure.

Under the consent orders, Hyundai is subject to a total civil penalty of $140M, including a $54M upfront payment, and Kia is subject to a $70M total civil penalty.
 

Weather Man

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Could you imagine the NHTSA ordering a manufacturer to replace a million battery packs from some manufacturer down the road, Yikes!

Hyundai looks to avoid hot legal mess over EV battery fires

Nov. 18, 2020 10:01 AM ET|About: Hyundai Motor Company (HYMLF)|By: Clark Schultz, SA News Editor


Hyundai Motors (OTCPK:HYMLF) is being sued by over 200 people in a class-action lawsuit over the reduced value of their electric vehicles dues to fire risk.

The plaintiffs want Hyundai to replace the entire battery packs in their vehicles, instead of just issuing a software update to fix the fire risk issue.

Hyundai could also face a fine from South Korean regulators pending an active investigation.

Battery engine fires are not considered a large issue in the EV industry at the moment, although each incident receives a fair amount of publicity. Last week, GM recalled about 69K Chevy Bolts due to battery fire risk. The National Highway Traffic Safety Administration closed an investigation into Tesla electric car battery fires in 2014, but a separate investigation from 2019 remains open.
 

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