Interesting Car/Truck Manufacturer News

mysticsvt

southernmustangandford
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Chip shortage just got me a 4 day weekend and 3 day weekend for the rest of the month atleast.
 

Weather Man

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2030 guys, or earlier, it's coming.


German activists sue BMW, Daimler over climate change goals

  • BMW (OTCPK:BMWYY +1.3%) and Daimler (OTCPK:DDAIF +0.0%) are being sued by German activists, marking the first time German citizens have sued companies for contributing to climate change.
  • The activist group, Deutsche Umwelthilfe, is also working on filing a lawsuit aimed at Volkswagen (OTCPK:VWAGY +1.6%) but is giving the automaker until Oct 29 to respond to complaints.
  • Last year, Germany's top court ruled that businesses would have to do more to reduce climate change, stating that not meeting the current goal to become carbon-neutral by 2045 would cause significant challenges to future generations. At around the same time, activist groups successfully sued Shell (RDS.A +3.9%) in the Netherlands for not reducing its impact on the planet enough.
  • The case could set a precedent that companies are directly responsible for emissions they produce and their impacts on society. The automakers will need to prove that their emissions targets are acceptable.
  • BMW plans to reduce carbon emissions per vehicle by 40% and have half of all global sales be electric vehicles by 2030, Daimler plans to produce all electric vehicles by that time, and Volkswagen says it will stop manufacturing cars that use fossil fuels by 2035.
  • Still, activists say that the automakers need to do more to adhere to climate and carbon emissions rulings set by the government. The group wants the companies to legally commit to stop building gas-powered cars by 2030 and ensure their emissions do not go above a calculated fair share. If they are successful, more lawsuits for other companies could follow.
  • The court case could take years to reach a verdict, but car companies are hastening the shift to electric vehicles as the US and the EU propose stricter emissions regulations.
 

thomas91169

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2030 guys, or earlier, it's coming.

German activists sue BMW, Daimler over climate change goals
  • BMW (OTCPK:BMWYY +1.3%) and Daimler (OTCPK:DDAIF +0.0%) are being sued by German activists, marking the first time German citizens have sued companies for contributing to climate change.
  • The activist group, Deutsche Umwelthilfe, is also working on filing a lawsuit aimed at Volkswagen (OTCPK:VWAGY +1.6%) but is giving the automaker until Oct 29 to respond to complaints.
  • Last year, Germany's top court ruled that businesses would have to do more to reduce climate change, stating that not meeting the current goal to become carbon-neutral by 2045 would cause significant challenges to future generations. At around the same time, activist groups successfully sued Shell (RDS.A +3.9%) in the Netherlands for not reducing its impact on the planet enough.
  • The case could set a precedent that companies are directly responsible for emissions they produce and their impacts on society. The automakers will need to prove that their emissions targets are acceptable.
  • BMW plans to reduce carbon emissions per vehicle by 40% and have half of all global sales be electric vehicles by 2030, Daimler plans to produce all electric vehicles by that time, and Volkswagen says it will stop manufacturing cars that use fossil fuels by 2035.
  • Still, activists say that the automakers need to do more to adhere to climate and carbon emissions rulings set by the government. The group wants the companies to legally commit to stop building gas-powered cars by 2030 and ensure their emissions do not go above a calculated fair share. If they are successful, more lawsuits for other companies could follow.
  • The court case could take years to reach a verdict, but car companies are hastening the shift to electric vehicles as the US and the EU propose stricter emissions regulations.

****ing insane.
 

Weather Man

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Electric Last Mile Solutions gains on securing 1,000 binding purchase orders

  • Electric Last Mile Solutions (NASDAQ:ELMS) +2.2% premarket, has received a binding purchase order for 1,000 units of its Urban Delivery vehicle from its distribution partner, Randy Marion Automotive Group.
  • Production for the Urban Delivery started on September 20 and the company plans to ship its first units from its production facility in Mishawaka, Indiana on September 28.
  • “From the outset, we stated that our goal was to deliver the first commercial Class 1 EV to the U.S. market, and with the start of production this week we will achieve that milestone,” said ELMS CEO James Taylor. “This order is reflective of the work that we do with our customers and sales channel partners to understand and meet their unique business needs.”


Sonic Automotive acquires RFJ Auto Partners, adds $3.2B in annualized revenue

  • Sonic Automotive (NYSE:SAH) +2% premarket, has added $3.2B in annual revenue through acquisition of RFJ Auto Partners, representing an incremental 30% increase in franchised dealership revenues above the company’s previously stated target of $25B in total revenues by 2025.
  • The transaction will add six incremental states to Sonic’s geographic coverage and five additional brands to its portfolio, including the highest volume Chrysler Jeep Dodge RAM dealer in the world in Dave Smith Motors.
  • This acquisition represents one of the largest transactions in automotive retail history and is expected to propel Sonic Automotive into the top-five largest dealer groups in the U.S. as measured by total revenues.
  • RFJ Auto generated $2.8B in annual revenues in 2020 with 33 locations in seven states and a portfolio of 16 automotive brands.
  • “This transaction is well-aligned with our strategy to grow our franchised dealership business by acquiring franchises that increase our geographic reach and expand our brand portfolio,” said Jeff Dyke, President of Sonic Automotive and EchoPark Automotive.”
  • The company says EchoPark is on track to achieve 25% population coverage by the end of 2021, and 90% population coverage by 2025.
  • The RFJ Auto transaction is expected to close in December 2021.
 

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Ford strikes key partnership on electric battery recycling with eyes on the future



  • Ford Motor Company (NYSE:F) says it will collaborate with battery materials company Redwood to integrate battery recycling into Ford’s domestic battery strategy.
  • The auto giant notes that Redwood’s recycling technology can recover more than 95% of the elements like nickel, cobalt, lithium and copper on average. Those materials can then be reused in a closed-loop with Redwood moving to produce anode copper foil and cathode active materials for future battery production. Ford expects to drive down costs by using locally produced, recycled battery materials. The automaker can also increase battery materials supply and reduce its reliance on imports and mining of raw materials.
  • "Our partnership with Redwood Materials will be critical to our plan to build electric vehicles at scale in America, at the lowest possible cost and with a zero-waste approach," says Ford CEO Jim Farley.
  • F +0.548% premarket to $12.84.
  • The global chip shortage has taken some of the investor buzz out of Ford's big electrification push that includes a tech partnership with Google.
 

Weather Man

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Does anyone else think that organized crime is gonna have a field day with these self driving semi's?



Self-driving trucks to get proof-of-concept test with new Aurora-FedEx-PACCAR partnership



  • Autonomous tech company Aurora, PACCAR (NASDAQ:PCAR) and FedEx (NYSE:FDX) announce that they are teaming up to launch a commercial pilot of autonomous trucks in linehaul trucking operations.
  • The collaboration is said to be the first of its kind between a truck manufacturer, an autonomous technology developer and a logistics provider.
  • The partnership will see PACCAR's autonomously enabled trucks configured with the Aurora autonomous Driver haul FedEx loads between Dallas and Houston in a 500-mile round trip. The trucks will operate autonomously, with a backup driver for additional safety. The goal is for the autonomous truck project to be scaled up.
  • Looking down the road, Aurora has a SPAC deal planned with Reinvent Technology Partners Y (RTPY +0.5%). Upon closing of the proposed transaction, the combined company will be named Aurora Innovation and be publicly traded, with its common stock expected to be listed on Nasdaq with the ticker symbol AUR.
  • Read more about the Aurora SPAC deal.
 

Stanley

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Does anyone else think that organized crime is gonna have a field day with these self driving semi's?


Self-driving trucks to get proof-of-concept test with new Aurora-FedEx-PACCAR partnership


  • Autonomous tech company Aurora, PACCAR (NASDAQ:PCAR) and FedEx (NYSE:FDX) announce that they are teaming up to launch a commercial pilot of autonomous trucks in linehaul trucking operations.
  • The collaboration is said to be the first of its kind between a truck manufacturer, an autonomous technology developer and a logistics provider.
  • The partnership will see PACCAR's autonomously enabled trucks configured with the Aurora autonomous Driver haul FedEx loads between Dallas and Houston in a 500-mile round trip. The trucks will operate autonomously, with a backup driver for additional safety. The goal is for the autonomous truck project to be scaled up.
  • Looking down the road, Aurora has a SPAC deal planned with Reinvent Technology Partners Y (RTPY +0.5%). Upon closing of the proposed transaction, the combined company will be named Aurora Innovation and be publicly traded, with its common stock expected to be listed on Nasdaq with the ticker symbol AUR.
  • Read more about the Aurora SPAC deal.
I don't know about organized crime, but it sounds like a terrible idea.
 

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Volkswagen invests in new China battery factory in bid to increase EV volumes

  • Volkswagen (OTCPK:VWAGY +1.1%) is setting up a new Electric Vehicle battery system factory in the eastern China city of Hefei which will be ready to produce cars in 2023.
  • By 2025, the car maker will invest over €140M ($164M) in its majority-owned joint venture with state-owned vehicle manufacturer JAC in an effort to annually produce 150K to 180K EV battery systems. Volkswagen also owns share of battery maker Gotion, which is headquartered in the city.
  • This year, Volkswagen sold around 7,000 of its ID. series electric models in China. The company hopes to sell between 80,000 and 100,000 this year.
  • In Volkswagen's March earnings call, CEO Herbet Diess said that the company has "high-volume aspirations" for China.
 

Weather Man

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Volvo wants all its cars to be leather-free by 2030

  • Volvo Cars (OTCPK:GELYF -8.8%) says that all new fully electric vehicle models will be leather-free in the latest auto manufacturer sustainability move. The company plans to offer only electric vehicles by 2030.
  • By 2025, Volvo aims to be supplied only by companies using 100% renewable energy and have all new cars contain 25% recycled and bio-content material like the Volvo-designed Nordico, a new interior material made from PET bottles, forest bio-material, and wine corks.
  • “Being a progressive car maker means we need to address all areas of sustainability, not just CO2 emissions,” said Director of Global Sustainability Stuart Templar. Livestock is estimated to be responsible for around 14% of global greenhouse gas emissions from human activity, with the majority coming from cattle farming.
  • Other car models, such Tesla's (TSLA -0.3%) model 3, have also shifted towards using leather-free interiors.
  • Volvo cars is exploring a separation from parent company Chinese Zhejiang Geely Holding Group through an IPO.
 

Weather Man

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**** Tesla


  • Meanwhile, Tesla (TSLA +0.1%) is lagging a bit on the day as it makes its typical late quarter push for deliveries with the Q3 numbers due to be disclosed at the very end of next week or the following weekend. The Elon Musk-led company is also turning heads with a new push to have fuel economic penalties applied to automakers that don't meet emissions requirements.
 

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Mercedes-Benz joins Stellantis, TotalEnergies in European battery cell venture

  • Mercedes-Benz (OTCPK:DDAIF) says it will take a one-third equity stake in battery cell manufacturer Automotive Cells Company, joining original founders Stellantis (NYSE:STLA) and TotalEnergies (NYSE:TTE).
  • "Together with ACC, we will develop and efficiently produce battery cells and modules in Europe, tailor-made to the specific Mercedes-Benz requirements," says Ola Källenius, CEO of Daimler and Mercedes-Benz. "With Mercedes-Benz as a new partner, ACC aims to more than double capacity at its European sites to support Europe's industrial competitiveness in the design and manufacturing of battery cells."
  • As part of the deal, Daimler will invest a mid-three-digit million euro sum in the project next year, adding that its overall investment would stay below €1B ($1.2B).
  • ACC is budgeted to require an investment of €7B in equity, debt and subsidies to reach its desired capacity of 120 GWh by 2030.
  • Daimler announced a goal in July of becoming all-electric after 2025.
 

CobraBob

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**** Tesla


  • Meanwhile, Tesla (TSLA +0.1%) is lagging a bit on the day as it makes its typical late quarter push for deliveries with the Q3 numbers due to be disclosed at the very end of next week or the following weekend. The Elon Musk-led company is also turning heads with a new push to have fuel economic penalties applied to automakers that don't meet emissions requirements.
Read about that. He has no vested interested in seeing automakers penalized, of course. :unsure:
 

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Ford, SK make $11.4B EV bet with new electric F-150 plant, three battery plants

  • Ford (NYSE:F) +3.8% post-market after unveiling plans to team with South Korean battery maker SK Innovation to spend $11.4B to build an electric F-150 assembly plant and three battery plants in the U.S., in a substantial acceleration of its push into electric vehicles.
  • Ford will build two massive battery factories in Glendale, Ky., and a third in Stanton, Tenn., alongside a new truck factory set to begin producing electric F-series pickups by 2025, creating 11K jobs.
  • The company says the planned $5.8B Blue Oval City complex in Tennessee "will usher in a new era for American manufacturing," comparing it to the Rouge complex in Michigan a century ago.
  • Ford expects to spend $7B on the project - which it says is the largest ever manufacturing investment at one time by any automotive manufacturer in the U.S. - and SK plans to chip in with $4.4B, which the companies say will provide enough capacity to build batteries for 1M electric vehicles per year.
  • Ford says it now expects 40%-50% of its global vehicle production volume will be fully electric by 2030.
  • The new megacampus and twin battery plants are part of the company's previously announced plan to spend at least $30B through 2030 on vehicle electrification.
 

thomas91169

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Can't wait for the next few years of energy shortages to kill these EV plans quicker than the Edsel. I hope the companies that don't take heed fold fully. **** em. I fully believe EVs are a gateway to removing personal mobility from the masses.
 

CobraBob

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And in more exciting ICE news, here's an Instagram photo of the upcoming C8 Z06 from Fox News. Note the larger side air intakes for the mid-engine and the revised front end.

1632823782239.jpeg
 

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