I'm all in on an electric F-150 down the road.
Interesting Car/Truck Manufacturer News
- Thread starter Weather Man
- Start date
GM, Ford halt some production as chip shortage worsens
DETROIT (AP) — The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks. General Motors announced Thursday that it would pause production at eight of its 15 North American assembly plants during the...
GM, Ford halt some production as chip shortage worsens
DETROIT (AP) — The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks. General Motors announced Thursday that it would pause production at eight of its 15 North American assembly plants during the...13wham.com
I'm really glad I am not looking for a new truck right now. Good clean low mileage trucks will command almost new pricing, but then you have to find the replacement.
Toyota looks to charge into electric vehicle battery market with eyes on solid-state
- Toyota Motor Corporation (TM +0.8%) says it expects to spend more than $13.5B by 2030 to develop batteries and a battery supply system as it looks to offer all-electric versions across its model lineup next year.
- With the huge investment, the Japanese automaker aims to reduce the cost of its batteries by 30% or more by working on the materials used and also improve power consumption.
- In an initiative that sets it apart, Toyota is also leading the charge to mass produce solid-state batteries, which is called a potential game changer for automakers because they are "more energy dense, charge faster and are less prone to catching fire." The solid-state batteries could also be used for hybrid electric vehicles such as the Prius.
- One of the pure play bets on solid-state batteries is QuantumScape (QS -1.9%). The stock is called a low-risk/high-reward investment by Seeking Alpha author Sandis Weil.
Stellantis-GAC JV plant will close, Dongfeng Motor to sell 36.1M STLA shares
- Stellantis N.V. (STLA -1.3%) is exploring a new China strategy beginning with the closure of one of the two factories that are part of a joint venture between the company and Chinese automaker GAC Group. The plant's production will be transferred from the Guangzhou plant to one in Changsa to lower costs.
- The two factories have sold only 12,288 Jeep-branded vehicles so far this year, much less than their 328,000 annual production capacity. The Changsa plant has an annual production capacity of 164,000.
- Stellantis also operates a joint venture in China with Dongfeng Motor Group (OTCPK
NFGF +4.6%). Dongfeng is planning to sell 36.1M Stellantis shares - about 1% of the 3.1B STLA shares outstanding. - Stellantis hopes to launch Opel, a subsidiary offering fully-electric vehicles, in China soon. The company is experiencing production issues in Europe, having to shut down plants due to the chip shortage.
314 seems light on range to me.
EV roundup; Rivian range numbers, Tesla rallies to four-month high, gains for XPEV, HYLN and HYRE
EV roundup; Rivian range numbers, Tesla rallies to four-month high, gains for XPEV, HYLN and HYRE
- The electric vehicle sector starts off the post-Labor Day period with investors buzzing once again.
- Rivian (RIVN) is back in the spotlight with the EPA saying the R1T electric pickup will have a 314-mile range in the Launch Edition trim with the 135.0-kWh battery. The R1S SUV will have a range of 316 miles using the same battery and motor setup. Rivian is promising that a larger battery pack with an approximately 400-mile range will arrive later.
- Rivian R1T deliveries could begin this month if the company stays on track. The electric pickup truck will have an early jump on the Ford (NYSE:F) F-150 Lightning, GMC (NYSE:GM) Hummer EV, and Tesla Cybertruck.
- Outside of the Rivian news, the electric vehicle sector is having a strong day with solid gains for XPeng (XPEV +5.7%), Hyliion Holdings (HYLN +4.6%), HyreCar (HYRE +3.9%), Volta Industries (VLTA +13.0%), Nuvve Holdings (NVVE +3.7%) and Chargepoint Holdings (CHPT +3.5%).
- Tesla (TSLA +2.6%) also skipped to its highest intraday level since April 14 when it revisited the $760 level. Of note, the EV automaker is hoping to attract state subsidies in Germany.
Ford hires Apple Car exec to take top tech spot
- Ford (F +1.0%) announces that it hired Doug Field to be its chief advanced technology and embedded systems officer.
- Field will partner closely with Hau Thai-Tang, Ford’s chief product platform and operations officer, to create the next generation of Ford’s connected products and experiences at the foundation of the Ford+ growth plan. The exec will report to Ford CEO Jim Farley.
- Field's duties will include leading Ford’s efforts to develop the next-gen Blue Oval Intelligence tech stack to deliver smart, connected vehicles. In addition, he will oversee the company’s Embedded Software and Hardware organization currently consisting of Vehicle Controls, Enterprise Connectivity, Features, Integration & Validation, Architecture & Platform, Driver Assistance Technology and Digital Engineering Tools.
- Field was hired away from Apple, where he was a VP of special products, including leading development on the Apple Car. Fields has also held key leadership positions at Tesla and Segway.
- Ford has the second highest Seeking Alpha Quant Rating in the auto sector.
Local dealerships are really thin.
Cars are scarce in the U.S. now - multi-year boom for Tesla, Fisker, Lucid and Arrival later?
Cars are scarce in the U.S. now - multi-year boom for Tesla, Fisker, Lucid and Arrival later?
- The shortage in the U.S. auto industry continues with August inventory down ~58k units from the end of July to 1.06M units. Bank of America notes that inventory level works out to 20 days supply of autos, which is roughly 63% below the 5-year average of 55 days supply.
- Analyst John Murphy says August marks the seventh consecutive month of sequential decline in absolute units of inventory. Supply is now less than half the level in August 2020 and only 30% of the pre-COVID level in August of 2019.
- "It is unclear how much lower inventory can go from current levels, especially now that sales are also coming under pressure. That said, the constrained inventory environment may perversely be a positive dynamic for the industry by depressing sales lower for longer and creating true pent-up demand that would be more naturally released over a multi-year cyclical recovery."
- U.S. auto sales are forecast to peak again in the mid-2020s at which time the electric vehicle battle between General Motors (NYSE:GM), Ford (NYSE:F), Tesla (NASDAQ:TSLA) and Toyota (NYSE:TM) will be in full swing. The extended recovery could also give startups and commercial vehicle sellers more time to develop their models and position themselves to the supply-demand curve. That group includes Canoo (NASDAQ:GOEV), Lucid Group (NASDAQ:LCID), Fisker (NYSE:FSR), GreenPower Motors (NASDAQ:GP), Nikola (NASDAQ:NKLA), Hyzon Motors (NASDAQ:HYZN), Lordstown Motors (NASDAQ:RIDE), Arrival (NASDAQ:ARVL), Workhorse Group (NASDAQ:WKHS) and Faraday Future Intelligent Electric (NASDAQ:FFIE).
- Read yesterday's wrap up of the latest electric vehicle news.
Li-Cycle to establish new battery recycling facility in Alabama
- Li-Cycle (NYSE:LICY) says it will build a fourth commercial lithium-ion battery recycling facility, to be located in Tuscaloosa, Alabama, since the pace of new battery mage-factory deployment has far exceeded the initial expectations.
- Once completed, the facility is to have an initial capacity of up to 5,000 tonnes of battery manufacturing scrap and end-of-life batteries per year, bringing Li-Cycle’s total North American recycling capacity to 25,000 tonnes per year.
- The company projects its Alabama Spoke to commence operations by mid-2022 and is expected to create an initial 30+ new jobs.
- "Originally, we had planned on rolling out three commercial Spoke facilities in North America over the next five years, with a total recycling capacity of 20,000 tonnes per year. However, demand for lithium-ion battery recycling has continued to outperform our forecasts and we are now forecasting total recycling capacity of 30,000 tonnes per year. This facility is essential in filling a recycling gap in the southeastern United States," says Co-founder, and Executive Chairman of Li-Cycle Tim Johnston.
- It follows Li-Cycle's collaboration with Univar Solutions OnSite Services to provide waste management solutions for lithium-ion batteries.
Ford Motor plans to stop manufacturing in India after years of losses
- Ford Motor Company (NYSE:F) says it plans to restructure its operations In India to bring to market some of the automaker's iconic global vehicles and electrified SUVs, while ceasing local vehicle manufacturing in the region.
- As part of the plan, Ford India will wind down vehicle assembly in Sanand by Q4 of 2021 and vehicle and engine manufacturing in Chennai by Q2 of 2022. The automaker will continue to provide customers in India with parts and service support.
- The decision follows accumulated operating losses for Ford of more than $2B over the past 10 years and a $800M non-operating write-down of assets in 2019. The restructuring is expected to create a sustainably profitable business in India as the company focuses on growing its Ford Business Solutions capabilities and team in the country, as well as engineering and engine manufacturing for export. Ford will begin importing and selling vehicles, including Mustang coupe. Customers in India also will benefit longer term from the company’s plan to invest more than $30B globally to deliver all-new hybrid and fully electric vehicles, such as Mustang Mach-E.
Rivian reported to have filed for IPO at shocking valuation level
Aug. 27, 2021 10:45 AM ETRivian Automotive, LLC (RIVN)Amazon.com, Inc. (AMZN), Canoo Inc. (GOEV), Fisker Inc. (FSR)...By: Clark Schultz, SA News Editor249 Comments
- Rivian (RIVN) has reportedly filed for an IPO and is looking to go public around Thanksgiving after it lands SEC approval. Bloomberg reports that the electric vehicle startup is looking for a valuation of around $80B, which is a shocking jump from the $27.6B valuation when it raised new funds from T. Rowe Price, Fidelity Investments and Amazon (NASDAQ:AMZN) earlier in the year. The $80B mark is also higher than the caps for Nio (NYSE:NIO) $61B, Fisker (NYSE:FSR) $4B, Canoo (NASDAQ:GOEV) $2B, Workhorse Group (NASDAQ:WKHS) $1.1B and Lordstown Motors (NASDAQ:RIDE) $1.1B combined. Of note, Ford (NYSE:F) is also an earlier investor in Rivian.
- Rivian aims to bring a truck and SUV to the market. The R1T truck will have a +300-mile range when it launches and the R1S SUV will feature towing capacity of 7,700 pounds. Amazon is tied pretty close to Rivian with a goal to have a delivery fleet of 10K Rivian vehicles on the road making deliveries by 2030.
- Read about the EV stock with the strongest momentum this week.
2022 Chevrolet Silverado revealed with ZR2 extreme off-road model and hands-free Super Cruise tech -- GM's best-selling model overhauled
By Gary Gastelu | Fox NewsChevrolet is sprucing up the Silverado 1500. The Silverado ZR2 is the most extreme model ever.
The full size-pickup is getting a mild redesign and a wild new model added to the lineup for 2022. The Chevrolet Silverado High Country, ZR2 and LT each have a unique grille design.
All 2022 Silverados feature a fresh face with a restyled grill, while high end trims (LT and above) have an all-new interior, addressing one of the top criticisms of the current model.
The Silverado ZR2 gets a rugged interior treatment.
The reconfigured layout includes a console shifter on trucks with front bucket seats and a dashboard equipped with a 12.3-inch digital instrument cluster and 13.4-inch touchscreen infotainment system with built-in Google Assistant, Maps and Play.
It’s all dressed in more premium materials, including open-pore wood and stainless steel speaker grates in the top-of-the-line High Country, which is also available with a version of GM’s Super Cruise hands-free highway driving system that’s been programmed to work with a trailer in tow.
The High Country features high-end leather, open-pore wood and stainless steel trim.
For those who prefer off-road driving, Chevy is introducing a high-performance Silverado ZR2 that’s similar in concept to the midsize Colorado ZR2. It has unique exterior styling, a two-inch body lift, the Silverado’s 420 hp 6.2-liter V8 and a set of Multimatic Dynamic Suspensions Spool Valve dampers, which mechanically adjust their firmness based on wheel position and compression speed by controlling the flow of fluid through three chambers to blend on road comfort with extreme off-road capability.
The ZR2 also has front and rear electronic locking differentials, extensive underbody protection, a uniquely-tuned traction control system and a low speed one-pedal driving feature, similar to the Ford Bronco’s and F-150 Raptor's, that engages the brakes as you lift off the throttle to provide better control while negotiating tricky terrain.
Chevrolet hasn’t said if it’s meant to be a direct competitor to the likes of the Raptor, Ram Rebel and TRX or Toyota Tundra TRD Pro, but it has been developing it in the Best of the Desert racing series with Chad Hall racing for the past few years.
The Silverado LT trim is the lowest-priced model that gets the new interior.
The Silverado’s V6 engine option has been dropped, but the potency of its base 310 hp 2.7-liter turbocharged four-cylinder engine has been cranked up with a major torque boost from 348 lb-ft to 420 lb-ft that helps increase its maximum tow rating to 9,600 pounds.
For heavier hauling, Silverado fitted with the 3.0-liter inline-six-cylinder diesel engine now come with a trailering package that includes a new differential and cooling system that brings its top tow rating on par with the 6.2-liter V8’s 13,300 pounds.
Pricing for the new 2022 Silverado will be released closer to when it is scheduled to go on sale in the first quarter of next year.
2022 Chevrolet Silverado revealed with ZR2 extreme off-road model and hands-free Super Cruise tech -- GM's best-selling model overhauled
By Gary Gastelu | Fox News
Chevrolet is sprucing up the Silverado 1500. The Silverado ZR2 is the most extreme model ever.
The full size-pickup is getting a mild redesign and a wild new model added to the lineup for 2022. The Chevrolet Silverado High Country, ZR2 and LT each have a unique grille design.
All 2022 Silverados feature a fresh face with a restyled grill, while high end trims (LT and above) have an all-new interior, addressing one of the top criticisms of the current model.
The Silverado ZR2 gets a rugged interior treatment.
The reconfigured layout includes a console shifter on trucks with front bucket seats and a dashboard equipped with a 12.3-inch digital instrument cluster and 13.4-inch touchscreen infotainment system with built-in Google Assistant, Maps and Play.
It’s all dressed in more premium materials, including open-pore wood and stainless steel speaker grates in the top-of-the-line High Country, which is also available with a version of GM’s Super Cruise hands-free highway driving system that’s been programmed to work with a trailer in tow.
The High Country features high-end leather, open-pore wood and stainless steel trim.
For those who prefer off-road driving, Chevy is introducing a high-performance Silverado ZR2 that’s similar in concept to the midsize Colorado ZR2. It has unique exterior styling, a two-inch body lift, the Silverado’s 420 hp 6.2-liter V8 and a set of Multimatic Dynamic Suspensions Spool Valve dampers, which mechanically adjust their firmness based on wheel position and compression speed by controlling the flow of fluid through three chambers to blend on road comfort with extreme off-road capability.
The ZR2 also has front and rear electronic locking differentials, extensive underbody protection, a uniquely-tuned traction control system and a low speed one-pedal driving feature, similar to the Ford Bronco’s and F-150 Raptor's, that engages the brakes as you lift off the throttle to provide better control while negotiating tricky terrain.
Chevrolet hasn’t said if it’s meant to be a direct competitor to the likes of the Raptor, Ram Rebel and TRX or Toyota Tundra TRD Pro, but it has been developing it in the Best of the Desert racing series with Chad Hall racing for the past few years.
The Silverado LT trim is the lowest-priced model that gets the new interior.
The Silverado’s V6 engine option has been dropped, but the potency of its base 310 hp 2.7-liter turbocharged four-cylinder engine has been cranked up with a major torque boost from 348 lb-ft to 420 lb-ft that helps increase its maximum tow rating to 9,600 pounds.
For heavier hauling, Silverado fitted with the 3.0-liter inline-six-cylinder diesel engine now come with a trailering package that includes a new differential and cooling system that brings its top tow rating on par with the 6.2-liter V8’s 13,300 pounds.
Pricing for the new 2022 Silverado will be released closer to when it is scheduled to go on sale in the first quarter of next year.
I just do not get the hands free driving stuff. It's like they are asking lawyers to please sue use for ridiculous amounts of money.
Caterpillar acquires Enhanced Energy Group
- Caterpillar (NYSE:CAT) has acquired U.S.-based carbon capture technology company Enhanced Energy Group, Inc. operating as "CarbonPoint Solutions".
- "Combining CarbonPoint Solutions' patented technology with Caterpillar Oil & Gas solutions enables us to further reduce greenhouse gas emissions while helping our customers meet their climate-related objectives," said Rod Shurman, vice president of Caterpillar's Oil & Gas and Marine Division.
- Financial terms were not disclosed.
WASHINGTON - Toyota Motor Corp and Tesla clashed with Ford Motor Co. and the United Auto Workers (UAW) union over a proposal by Democrats in the U.S. House to give union-made, U.S.-built electric vehicles an additional $4,500 tax incentive.
In a letter to Congress, Toyota said the plan discriminates against nearly half of American autoworkers who do not belong to a union and called on lawmakers to reject giving "exorbitant tax breaks" to wealthy buyers of high-priced cars and trucks.
The bill, set to be taken up on Tuesday by the House Ways and Means Committee as part of a proposed $3.5 trillion spending bill, would benefit Detroit's Big Three automakers - General Motors, Ford Motor Co and Stellantis NV, the parent of Chrysler - which assemble their U.S.-made vehicles in UAW-represented plants.
TOYOTA TO SLASH SEPTEMBER PRODUCTION DUE TO GLOBAL CHIP SHORTAGE: REPORT
The proposal boosts the maximum tax credit for these electric vehicles to $12,500 - including a $500 credit for using U.S.-made batteries - from the current $7,500, which stays the same for all others. The bill also does away with phasing out tax credits after automakers hit 200,000 electric vehicles sold, which would make GM eligible again, along with Tesla Inc, although Tesla would not receive the higher credit.
In a letter to Congress, Toyota said the plan discriminates against nearly half of American autoworkers who do not belong to a union and called on lawmakers to reject giving "exorbitant tax breaks" to wealthy buyers of high-priced cars and trucks.
The bill, set to be taken up on Tuesday by the House Ways and Means Committee as part of a proposed $3.5 trillion spending bill, would benefit Detroit's Big Three automakers - General Motors, Ford Motor Co and Stellantis NV, the parent of Chrysler - which assemble their U.S.-made vehicles in UAW-represented plants.
TOYOTA TO SLASH SEPTEMBER PRODUCTION DUE TO GLOBAL CHIP SHORTAGE: REPORT
The proposal boosts the maximum tax credit for these electric vehicles to $12,500 - including a $500 credit for using U.S.-made batteries - from the current $7,500, which stays the same for all others. The bill also does away with phasing out tax credits after automakers hit 200,000 electric vehicles sold, which would make GM eligible again, along with Tesla Inc, although Tesla would not receive the higher credit.
Rivian wins the electric pickup truck race as first vehicle rolls off Illinois assembly line
- Rivian (RIVN) becomes the first auto maker to produce an electric pickup truck, beating out Tesla (NASDAQ:TSLA), Ford (NYSE:F), and General Motors (NYSE:GM) after multiple delays.
- The cofounder and CEO of Rivian, RJ Scaringe, tweeted out a picture Tuesday afternoon of the company's first costumer vehicle driving off the assembly line at Rivian's Illinois plant.
- The electric pickup scene is expected to get competitive. GM is expected to release its Hummer EV pickup this fall, followed by fellow startup Lordstown Motors (NASDAQ:RIDE), and then Ford. Tesla has delayed its cybertruck deliveries to late 2022.
- The truck is marketed towards affluent consumers, with a price tag of roughly $73,000. An SUV model and Amazon delivery vans are also in the works.
- Rivian is seeking an IPO at a reported valuation of $80B, higher than the market caps of both Ford and GM.
CarGurus rolls out max cash offer to five more States
- CarGurus (CARG +1.0%) launches its instant max cash offer to five more states.
- It will allow the consumers in Georgia, Michigan, Pennsylvania, and Rhode Island to sell their vehicles 100% online and instantly get the best offer from thousands of dealerships in the CarGurus/CarOffer network.
- "CarGurus Instant Max Cash Offer has struck at the core of the two most prevalent trends impacting automotive today. Consumers want to do more car shopping and selling online, and we are empowering more to do so with this five-state expansion," says Sam Zales, President and Chief Operating Officer at CarGurus.
- "CarGurus: This Story Is Slowly Getting Back On Track," writes SA Pro Editors
Ford, Argo AI, and Walmart launches autonomous vehicle delivery service in three U.S. cities
- Ford Motor Company (NYSE:F), Argo AI and Walmart (NYSE:WMT) have collaborated to launch an autonomous vehicle delivery service in Miami, Austin, Texas, and Washington, D.C.
- Autonomous delivery service will use Ford self-driving test vehicles equipped with the Argo AI Self-Driving System to deliver Walmart orders to customers.
- “Argo and Ford are aggressively preparing for large-scale autonomous vehicle operations across a broad footprint of U.S. cities,” said Scott Griffith, CEO, Ford Autonomous Vehicles & Mobility Businesses. “Pairing Walmart’s retail and e-commerce leadership with Argo and Ford’s self-driving operations across these multiple cities marks a significant step toward scaling a commercial goods delivery service that will ultimately power first-to-scale business efficiencies and enable a great consumer experience.”
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