Interesting Car/Truck Manufacturer News

Weather Man

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Lordstown Motors plummets again after Morgan Stanley calls it a $2 stock



  • Morgan Stanley lowers Lordstown Motors Corp. (NASDAQ:RIDE) to an Underperform rating from Equal-weight after a significant reset of its forecasts and valuation as it factored in last week's update from the electric vehicle maker.
  • Analyst Adam Jonas: "While the agreement with Foxconn helps secure the future of the Lordstown plant and buys time to explore other business opportunities for RIDE (new programs,new platforms,new segments thathave yet to be developed), we believe there would likely be little left for shareholders."
  • Jonas and team think the downside to the $2 price target on RIDE ouweighs the upside of the bull case valuation of $8.
  • Shares of Lordstown Motors are down another 7.69% premarket to follow on yesterday's 10.41% drop. Volatility on RIDE continues to ramp up.
 

Weather Man

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ElectraMeccanica begins first customer deliveries of flagship SOLO EV

  • ElectraMeccanica Vehicles (NASDAQ:SOLO) +2.4% premarket, has commenced the first commercial deliveries of its flagship single-seat SOLO electric vehicle as part of an invite-only unveiling event held in Los Angeles, California on October 4, 2021.
  • The company will continue to ramp production alongside its manufacturing partner and strategic investor, Zongshen Industrial Group.
  • The company is also on track to complete its new U.S. Assembly and Engineering Technical Center in Mesa, Arizona in Summer of 2022, which will have the ability to produce up to 20,000 vehicles per year.
  • “The initial customer deliveries of our flagship SOLO EV marks a transformational milestone not only for ElectraMeccanica, but for the future of the electric vehicle industry,” said Kevin Pavlov, CEO of ElectraMeccanica. “As we look ahead, we will continue to ramp production to meet the ever-growing demands for right-sized EVs with a practical everyday use and helping to create sustainable value for our customers and shareholders alike.”


GM, GE sign MoU to develop rare earth supply chain for EVs, renewables



  • General Motors (NYSE:GM) and GE Renewable Energy (NYSE:GE) sign a memorandum of understanding to evaluate opportunities to improve supplies of rare earth materials and other materials to support the manufacture of electric vehicles and renewable energy equipment.
  • The companies say they will focus initially on "creating a North America- and Europe- based supply chain of vertically integrated magnet manufacturing that both companies, their respective suppliers, and other co- sourcing partners will use in the future."
  • GM and GE also will work to establish supply chains for additional materials such as copper that are used in automotive traction motors and renewable power generation.
  • GE shares "may be poised for a big breakout" after treading water for weeks, Mott Capital Management writes in a bullish analysis published recently on Seeking Alpha.


TuSimple dazzles Needham with autonomous truck ride



  • Needham returns back from TuSimple's (NASDAQ:TSP) investor event last week impressed with the company's progress.
  • Analyst Rajvindra Gill says the team took a 90 minute ride in TSP's specially equipped chase van along I-10 highway, which tracked behind the L4 class 8 autonomous semi-truck.
  • "We witnessed how the L4 truck optimizes lane-centering and lane-biasing, navigates traffic, interacts with other vehicles /motorists on the road and handle various driving scenarios."
  • The test drive is called the most impressive L4 autonomous technology the firm has witnessed over the last five years and reinforces its belief that L4 autonomous technology for the trucking industry will happen sooner rather than later.
  • "Relative to other competitors, who are retrofitting existing trucks with ADAS (advanced driver-assistance systems) functionality or focusing on specific regions/routes, we believe TSP is going for the 'whole ball of wax' by developing a fully L4 autonomous truck from the ground up."
  • Needham keeps a Buy rating on TuSimple Holdings (TSP) and price target of $60.
  • Read more about the TuSimple autonomous tech demo.


Kaixin Auto stock gains as POCCO EV orders surpassed 3000 units in September, +130% M/M

  • Kaixin Auto Holdings (NASDAQ:KXIN) +13.2% premarket after announcing that sales doubled in September over the prior month for the POCCO brand electric vehicles manufactured by Henan Yujie Times Automobile Co., Ltd.
  • The company has earlier signed a binding term sheet to acquire Yujie. The brand has launched two EV models under the POCCO brand, namely MeiMei in March of 2021 and DuoDuo in August.
  • Orders for POCCO EVs surpassed 3,000 units in September, +130% over that of 1,300 units in August; the actual delivery in September was around 1,200 units, a 200% increase over that of 400 units in August.
  • Total sales in the upcoming fourth quarter are expected to reach 11,500 units.
  • Mingjun Lin, Chairman and CEO of Kaixin, states: "The rapid growth of China's electric vehicle market has achieved a qualitative breakthrough in 2021, and this momentum will continue. Kaixin is fully confident in the future performance of the POCCO brand. In the meanwhile, Kaixin keeps seeking for more high qualify partners, and our new energy vehicles department aims at achieving the sales target of 120,000 units in 2022!"


All-electric powersports company Volcon prices IPO at $5.50, goes live today

  • Volcon (VLCN), the first all-electric, off-road powersports company, has raised $16.6M after pricing its initial public offering of 3.025M common stock at $5.50, at the higher end of the expected range of $4.50-$5.50.
  • Offering is expected to close on October 8.
  • The company has granted Aegis Capital Corp. a 45-day option to purchase up to 226,875 additional common stock.
  • If this option is exercised in full, the gross proceeds of the offering would be approximately $17.M.
  • The company recorded a net loss of $19.46 million on no revenue during the six months ended June 30, 2021.
  • Trading commences today on Nasdaq Capital Market.
  • Based in Round Rock, Texas, Volcon joins many major electric vehicle manufacturers near Austin, Texas, an area that is poised to become the electric vehicle capital of the world.
  • The company said it is currently taking orders for its off-road motorcycles, the Grunt and the Runt, and expects to start delivering the Grunt in 3Q21 and the Runt in 1Q22.
  • The company expects to start offering the Volcon Stag UTV in 2022 and a longer range UTV, the Beast, in 2023.


Volvo Trucks bags record order for 100 Volvo FM Electric trucks from DFDS



  • Volvo Trucks (OTCPK:VLVLY) has received an order for 100 Volvo FM Electric trucks from DFDS, Northern Europe's largest shipping and logistics company.
  • It is the largest commercial order till date for Volvo electric trucks, and one of the largest ever for heavy electric trucks worldwide.
  • First deliveries of the Volvo FM Electric to DFDS will start in the fourth quarter of 2022 and continue throughout 2023.
  • The trucks will be used for both short and long transport in the DFDS logistics system in Europe.
  • Volvo Trucks started serial production of electric trucks in 2019, the product range now includes six electric truck models – the Volvo FH, Volvo FM, Volvo FMX, Volvo FE, Volvo FL and the Volvo VNR, sold in North America.
 

Weather Man

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General Motors plans to be an EV leader with double the revenue and higher margins



  • General Motors (GM -1.6%) is aiming high with its financial targets as it highlights the company's dual platform strategy for hardware and software and growth at an investor event today.
  • GM plans to double annual revenue by the end of the decade to $280B while growing EBIT-adjusted margins as it transitions to an all-electric future. That follows what it expects will be a $35B investment through 2025 in all-electric and autonomous vehicles.
  • "GM's vision of a world with zero crashes, zero emissions and zero congestion has placed us ahead of much of the competition in electrification, software-enabled services and autonomy," says GM CEO Mary Barra.
  • "Our early investments in these growth trends have transformed GM from automaker to platform innovator, with customers at the center. GM will use its hardware and software platforms to innovate and improve their daily experience, leading everybody on the journey to an all-electric future."
  • Part of the GM (NYSE:GM) plan is for it be an EV market share leader in the U.S. while also growing its profits from internal combustion engine vehicles in the near term. GM expects the future growth to be driven by the Ultium modular EV platform. On the manufacturing side, plans are in place more than 50% of the company's North America and China manufacturing footprint to be capable of EV production by 2030.
  • Closer on the calendar, Chevrolet is planning to debut the Silverado EV pickup on Jan. 5, 2022 and the Ultra Cruise hands-free advanced driving-assistance technology will be offered starting in 2023.
  • GM's (GM) investor event is scheduled to run for two days.
 

Weather Man

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Alfa Romeo will launch a new model yearly until at least 2026



  • Alfa Romeo, a subsidiary of Stellantis (STLA -3.2%), said that it would introduce a new model every year until 2026. Then, starting in 2027, all new Alfa Romeo vehicles will be electric. The newest model, the Alfa Romeo Tonale, will begin selling in June after delays pushed production back.
  • Lancia, another Stellantis brand, will launch 3 new models by 2028. Lancia currently only sells one car, the supermini Ypsilon, and only in Italy. The company presented it 10-year plan to expand into other European countries with a focus on cities.
  • Stellantis plans to group its Alfa Romeo, Lancia and DS brands together in its premium cars offerings.
  • Read Seeking Alpha contributor Bram de Haas' analysis of Stellantis' EV transition and potential synergies.
 

Weather Man

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Mazda unveils global SUV lineup plan for 2022

  • Mazda Motor Corporation (OTCPK:MZDAF) plans to expand its global SUV lineup starting from 2022.
  • The new models will include the Mazda CX-50 to be produced in new U.S. plant, as well as models in Large Product group, including the Mazda CX-60, Mazda CX-70, Mazda CX-80, and Mazda CX-90, slated to launch in various global markets between 2022 and 2023.
  • Next month, Mazda will reveal the CX-50, the next crossover to join its lineup in the U.S. and Canada, production for which will begin in January 2022 at the new Mazda-Toyota joint venture factory.
  • Following CX-50, the company will introduce two additional mid-size crossover SUVs for the Canadian and U.S., CX-90 followed by the CX-70.
  • The company will also introduce the two-row CX-60 and the three-row CX-80 for European and Japanese market.
  • In 1H2022, the company will introduce the MX-30 series plug-in hybrid using a rotary generator.
  • Mazda plans to complete the electrification of all the models it produces by 2030.
  • CX-5, launched in 2012, to undergo a makeover and further improvement.
 

Weather Man

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The drumbeat for EV is deafening. I guess the plan is buy an EV whether you want to or not because there won't be any new ICE around.


General Motors dazzles analysts with aggressive financial targets, EV plans
  • The early reaction from Wall Street is positive on the General Motors (NYSE:GM) Analyst Day reveals and updates, which was headlined by a plan for the automaker to double revenue to $280B by 2030.
  • Wedbush (Outperform): "We believe GM's financial targets are achievable and ultimately beatable as the company converts the vast majority of its customer base to EVs over the coming years. We believe by 2026 GM will be able to convert 20% of installed base to EVs which remains the key to our re-rating thesis as part of this renaissance of growth happening in Detroit with the green tidal wave."
  • Wedbush analyst Dan Ives thinks more positive news is on the way from GM this week as it further details the EV roadmap.
  • Bank of America (Buy rating): "In our view, the event was constructive, further illustrating GM as an industry leader in what we characterize as the Core to Future transition. With this in mind, we maintain our Buy rating on GM and believe the SOTP story may gain more traction."
  • Of note, BofA also highlights that GM talked about more than just the revenue targets and electrification plans at the investor event. The automaker outlined a number of new projects like OnStar, BrightDrop and GM Defense that have addressable markets ranging from $3B to $500B.
 

SecondhandSnake

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While I think the GM plan for doubling revenue is outlandish, I think long term they're going to outperform Ford. I thought Ford had a good long term strategy, anticipating the market moving to autonomous EVs, but GM seems to be beating them handily. Between their autonomous investments, current driver assists outperforming other brands, and EV supply chain consolidation, they are poised well for the next 5+ years.
 

Weather Man

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General Motors is called a potential software superstar after EV transition



  • Wedbush Securities walks away from meetings with General Motors Company (NYSE:GM) with even more confidence the Detroit stalwart is in the midst of a massive turnaround that will change the GM story going forward.
  • "We believe GM has a golden opportunity to lay the groundwork and ultimately convert 20% of its massive customer base to EVs by 2026 and north of 50% by 2030. Even if Barra & Co. hit the natural speed bumps and have challenges along the way, the green tidal wave and EV conversion opportunities will change the long term growth trajectory (and multiple) at GM over the next decade with overall revenue set to double by 2030," notes analyst Dan Ives.
  • Ives sees a long-term plan for GM to generate big profit margins from subscription services. He estimates an additional $2K in profit per car in recurring revenue is on the table.
  • Wedbush keeps an Outperform rating on General Motors (GM) and price target of $85 as it believes that a higher multiple is warranted on both a sum-of-the-parts and incremental EV/services opportunity valuation.
  • Last week, General Motors (GM) dazzled analysts with its aggressive financial targets and EV plans.
 

Weather Man

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I swear to god the number of new EV makers that pop up week after week that I have never heard of is amazing.


Mullen’s Mississippi-based facility to begin assembly of EV cargo vans

  • Mullen Automotive, which is undergoing a reverse merger with Net Element (NASDAQ:NETE), said its Tunica, Mississippi-based Advanced Manufacturing and Engineering Center (AMEC) was ready to begin assembly of Class 1 and Class 2 EV Cargo vans.
  • The company said plant renovations included a full revamp of an automated skillet line with an overhead hanger section, allowing Mullen assembly technicians to work flawlessly as the vans are assembled moving down the line.
  • The facility grounds allow for future additions to be added to keep up with growing customer demand for these types of electric vehicles.
  • “AMEC has been undergoing a much-needed overhaul to ready it for the start of production. Since March of this year, we have had workers preparing much of the 124,000-square-foot facility for production readiness,” said Trey Agner, director of operations at Mullen Automotive’s Tunica, Mississippi, manufacturing plant.
  • Mullen will debut its FIVE Crossover in November at the Los Angeles International Auto Show.
 

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2022 Ford Mustang GT and Mach 1 Get Less Horsepower Than 2021s

If this is really true, I sure hope they didn't end up with some sort of GPF like the European's are going to.

2022 Ford Mustang GT and Mach 1 Get Less Horsepower Than 2021s​

Ford confirms that the Coyote V-8 will be slightly de-rated, for both automatic and manual models.​


Ford today confirmed to MotorTrend that 2022 Ford Mustangs equipped with the Coyote V-8 engine—that is, the GT and Mach 1—will lose 10 horsepower and 10 lb-ft of torque across the board. This was first reported by Ford Authority before being verified by Dearborn. The Ford representative noted that "changes were made to meet more stringent LEV III regulatory emissions requirements that resulted in a horsepower and torque reduction for the 5.0-liter V-8 engine."

Even the garden variety Mustang GT makes 460 horsepower, so for 2022 it will be rated at a still-impressive 450. The Mach 1 is good for 480 horsepower in 2021; for 2022, that figure will drop to 470.
Regardless of the change's real-world significance, it's a noteworthy item in a segment ruled by numbers. (Plus, it isn't often that you see power reductions year-over-year in any vehicle.) Otherwise, we expect the 2022 Mustangs to largely mirror their 2021 counterparts, with a few exceptions. The 2022 Ford Mustang California GT gets a variety of aesthetic enhancements and special badging, and can be optioned with the GT Performance package.

Another addition for 2022 is the Stealth Edition, but this is an EcoBoost model and not subject to the V-8's alleged power drop. This one gets blacked out accents, mirrors, rear wing, and wheels—much like other similar packages that adorn everything from the Subaru Ascent Onyx to the Jeep Grand Wagoneer Obsidian.

Ford Authority also reports that for 2022, there will be several new paint options, a new appearance package that hasn't been announced yet, and that sort of thing. Order books are apparently open, but the configurator isn't live on Ford's website just yet.
 
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Weather Man

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BMW CEO: We are ready for any potential ICE ban

  • BMW's (OTCPK:BMWYY +0.6%) CEO Oliver Zipse says that the company is ready for a potential ban on internal combustion engines from 2030 onwards.
  • "We will be ICE-ban ready. If a region, a city, a country gets the idea of banning ICEs, we have an offering," said Zipse at a conference in Germany. "The BMW Group is not worried about this. Whether it's a good idea is another question... but we will have an offering."
  • Unlike automakers General Motors (GM -0.2%) and Volkswagen (OTCPK:VWAGY +1.7%), BMW hasn't set a goal yet for ending traditional car sales. GM and Volkswagen have pledged to end all combustion engine vehicle sales by 2035, in-line with the European Union's proposed timeline.
 

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BMW’s CEO’s comment says what most car-makers are really feeling. “Whether it's a good idea is another question... but we will have an offering."
 

Weather Man

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Ford to invest around $300M to build electric power units in Northwest England



  • Ford Motor (NYSE:F) to spend up to £230M ($315M) to turn a transmission factory in northwest England into a plant to produce electric power units for cars and trucks sold throughout Europe.
  • Halewood plant would begin producing the power units, which replace the engine and transmission used in internal combustion engines, by mid-2024.
  • Plant capacity is planned to be around 250,000 units a year.
  • The British government has tended to provide around 10% of the total investment value for automotive firms.
  • In July, Nissan pledged to invest further in Britain with a new battery plant and Stellantis said less than a week later its Vauxhall Ellesmere Port factory would build electric vans.



Toyota charges into electrified future in the U.S with $3.4B investment



  • Toyota (NYSE:TM) will invest approximately $3.4B in automotive batteries in the United States through 2030.
  • The company looks to develop and localize automotive battery production, including those for battery electric vehicles, and is part of the global total of approx. $13.5B set aside for investment in battery development and production announced last month.
  • Toyota Motor North America also announced to establish a new company and build an automotive battery plant together with Toyota Tsusho in the U.S. with an aim start production in 2025, the project includes an investment of approximately $1.29B until 2031 and the creation of 1,750 new American jobs.
  • "Toyota's commitment to electrification is about achieving long-term sustainability for the environment, American jobs and consumers," said Ted Ogawa, Chief Executive Officer, Toyota Motor North America. "This investment will help usher in more affordable electrified vehicles for U.S. consumers, significantly reduce carbon emissions, and importantly, create even more American jobs tied to the future of mobility."
  • Read a most recent bullish analysis on Toyota by a contributor Doron Levin on Seeking Alpha.


Ballard Power Systems enter long-term strategic partnership with Forsee Power

  • Ballard Power Systems (NASDAQ:BLDP) and Forsee Power, a leader in smart battery systems for sustainable electromobility, announced the signing of a MOU for a strategic partnership to develop fully integrated fuel cell and battery solutions, optimized for performance, cost and installation for heavy-duty hydrogen mobility applications.
  • The strategic partnership is the beginning of a long-term collaboration involving the co-design, co-development, production, marketing, and sales of integrated fuel cell-battery solutions.
  • For the planned integrated solution, Ballard will supply the fuel cell system and related controls, and Forsee Power will supply the battery system and related battery management system, cooling system and high voltage DC/DC conversion system.
  • The parties will jointly develop the EMS to optimize the hybrid fuel cell and battery system architecture.
  • The collaboration is expected to increase technological performance, optimize costs, extend service life, and reduce customer friction points by providing pre-integrated and optimized electric powertrain solutions.
  • As part of the strategic relationship, Ballard will subscribe as a cornerstone investor in the proposed IPO of Forsee Power on Euronext Paris, pursuant to which Ballard to acquire a stake in Forsee Power.


Stellantis and LG Energy Solution start JV for lithium-ion battery production in North America



  • Stellantis N.V. (NYSE:STLA) and LG Energy Solution have entered into a memorandum of understanding to form a joint venture for lithium-ion battery production in North America.
  • The JV to establish new battery plant to have annual production capacity of 40 gigawatt hours; targeted to start by first quarter 2024.
  • The batteries produced at the new facility will be supplied to Stellantis assembly plants throughout the US, Canada, and Mexico for installation in next-generation electric vehicles that will be sold under the Stellantis family of brands.
  • Through the JV, the two companies look to solidify their partnership even further and continue leveraging each other’s strengths, a step toward electrification transformation in North America.
  • The location of the new facility is currently under review and further details will be shared at a later date.
  • The groundbreaking for the facility is expected to take place in the second quarter of 2022.
 

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Porsche is pulling away from Tesla, but the race has just started.

porsche-taycan-004.jpg

The Taycan is Porsche's first electric model.

The German automaker's electric Taycan model line has outsold the Tesla Model S and X by a better than two-to-one margin through the first three quarters of 2021, which saw the brand's overall sales rise 13%.

Porsche delivered 28,640 Taycans, which are offered as a sedan and wagon, globally compared to 13,185 Tesla Model S sedans and Model X SUVs, which are bundled together in Tesla's reports.

tesla.png

The Tesla Model S Plaid

Production of the Model S was down for most of the year as Tesla transitioned to an updated version amid the ongoing semiconductor shortage and didn't begin deliveries of the new version until June, while a new Model X just started rolling out to customers last week.

The Taycan has already passed its full-year 2020 result of 20,015 and outsold another important model: the Porsche 911.

911.jpg

The 911 is Porsche's most iconic model. (Porsche)

Porsche sold 27,972 of its iconic sports cars during the period, an increase of 10% over last year. The Taycan also outsold the 911 in the U.S. 7,228 to 6,729.

Both models were handily outdone by Porsche's SUVs, the Cayenne and Macan, which posted global results of 62,415 and 61,944 through September.
 

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The Lion Electric and Demers Ambulances launched all-electric, purpose-built ambulance

  • North American manufacturer of ambulance vehicles, Demers Ambulances and The Lion Electric (LEV -0.5%) launched the Demers eFX Ambulance, the first all-electric and purpose-built ambulance.
  • This exclusive mutual agreement between Lion and Demers contemplates the deployment of at least 1.5K 100% electric ambulances over the next five years by Demers Ambulances.
  • This new model of ambulances is scheduled to be commercialized in 2H22 and is the first ambulance designed according to the needs expressed by paramedics.
  • The new 100% electric ambulance will be sold across North America, and eventually worldwide, as ambulances sold by Demers and its affiliated brands are already in service in 43 countries.
 

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Stellantis, TheF Charging partner to create 'vast' European e-charging network



  • Stellantis (NYSE:STLA) will team up with Italian e-charging startup TheF Charging to create a vast European public charging network accessible to all vehicles, with exclusive advantages for Stellantis vehicle owners.
  • The two companies plan to strategically deploy chargers in over 15,000 locations with 2 million parking spaces. They have already identified about 1,000 locations at city centers, public institutions and transport hubs that would offer the best possible charging locations for customers. The network will begin in Italy starting this year before expanding to the whole of Europe through 2025.
  • Under the agreement, the two companies will also aim to offer a charging network that is carbon free.
  • Stellantis recently also announced a partnership with LG Energy Solutions to build a new battery plant in North America.
 

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Ford's 37 mpg Maverick Hybrid truck nearly sold out

1634809515355.jpg

  • Ford (F +3.1%) says that its new Maverick Hybrid 2022 compact pickup truck is nearly sold out, with the automaker expecting the 2022 model to be fully reserved by early November.
  • After revealing the Maverick in June, Ford reported that it had already received 100,000 non-binding orders for the pickup. Deliveries are expected to begin in January 2022 following the completion of required state and federal emissions certifications.
  • The vehicle is geared towards entry-level buyers with a starting price of just under $20,000 and an EPA-certified rating of 42 mpg in the city, making it the most fuel-efficient pickup truck in America with a combined 37 mpg rating.
  • Once all 2022 Maverick Hybrids are reserved, customers will have to wait until next summer or purchase a non-hybrid version of the truck.
  • Ford is set to report earnings Wednesday, Oct 27 after the market closes. J.P. Morgan expects an earnings beat based on the automaker's production numbers and a strong
 

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Turbo diesel available

The GMC Sierra 1500 is venturing farther into the luxury and adventure realms than ever before.

The GMC Sierra 1500 AT4X and Denali Ultimate trims are new to the model.

The GMC Sierra 1500 AT4X and Denali Ultimate trims are new to the model. (GMC)
The updated 2022 version of GMC's full-size pickup debuts the new Denali Ultimate and AT4X trims, each with a different customer in mind.

The Denali Ultimate is trimmed in full-grain leather and open-pore wood.

The Denali Ultimate is trimmed in full-grain leather and open-pore wood. (GMC)
The Denali Ultimate is fully-loaded with features like a CarbonPro composite bed; MultiPro configurable tailgate; the hands-free Super Cruise highway driving system; a computer-controlled suspension; a 420 hp 6.2-liter V8; and it's wrapped in high-tend materials including full-grain leather and open-pore wood embossed and engraved with topographical maps of Denali, Alaska. Priced at $80,395, the only option is a switch to the Sierra's 277 hp 3.0-liter turbocharged inline-six-cylinder diesel engine that's rated at 460 lb-ft of torque, just like the V8.


Topographical maps of Denali, Alaska, are featured throughout the Denali Ultimate's interior.

Topographical maps of Denali, Alaska, are featured throughout the Denali Ultimate's interior. (GMC)
The AT4X is GMC's version of the new high performance off-road Chevrolet Silverado ZR2 and pairs the 6.2-liter V8 with a long travel suspension, unique springs and a set of Multimatic DSSV shock absorbers, which adjust their stiffness depending on their position and the speed at which they are compressing or expanding. This allows them to combine a well-mannered ride on pavement with the ability to handle high speeds and jumps on rough roads. The $74,995 AT4X is also equipped with full underbody protection, a two-speed transfer case and front and rear electronic locking differentials for maximum rock crawling traction.

The AT4X is the most off-road capable version of the Denali ever offered.

The AT4X is the most off-road capable version of the Denali ever offered. (GMC)
The Sierra is also available in a full range of models below the Denali Ultimate and AT4X, starting with the entry-level $32,496 Sierra Pro work truck and stepping up through the $43,895 SLE, $45,495 Elevation, $50,895 SLT, $60,995 AT4 without the X to the $61,295 Denali less than ultimate.

Along with the 6.2-liter V8 and diesel, the engine lineup includes a 2.7-liter turbocharged four-cylinder rated at 310 hp and 420 lb-ft of torque, which comes with an 8-speed automatic transmission, and the latest version of the Sierra's tried and true 355 hp 5.3-liter V8 that gets a 10-speed automatic shared with the 6.2-liter and diesel. The Sierra's top tow rating with the diesel is now 13,200 pounds for two-wheel-drive trucks and 13,000 pounds for four-wheel-drive trucks fitted with the maximum towing package.

The Denali lineup features a new interior design.

The Denali lineup features a new interior design. (GMC)
Changes found across the range include a redesigned interior with a new dashboard, console-mounted shifter, and digital instrument cluster; a 13.4-inch touchscreen infotainment system with Google built-in, Amazon Alexa and wireless Apple CarPlay and Android Auto; plus Super Cruise on the Denali, which offers supervised hands-and-foot-free operation on over 200,000 miles of mapped roads, even while pulling a trailer.

CLICK HERE TO GET THE FOX NEWS APP

Full pricing and trim level specifications will be released closer to when the 2022 Sierra goes on sale in the first quarter of next year.
 

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General Motors to install up to 40,000 EV chargers across US; begins sale of Ultium chargers

GM -1.12%Oct. 26, 2021 10:53 AM ET27 Comments
  • General Motors (GM -0.0%) plans to work with dealers to install up to 40,000 electric vehicle chargers across the United States, focusing on areas that currently have limited access to EV chargers. GM will give each of its EV dealers 10 Level 2 destination charging stations to deploy at key locations in the community. The Detroit automaker doesn't plan to pay for all of the chargers, but will work with community leaders and dealers on financing arrangements.
  • General Motors, unlike Tesla (TSLA +6.7%) or Volkswagen (OTCPK:VWAGY +3.2%), doesn't have its own charging station network, so customers must currently rely on third-party chargers.
  • The move comes on the back of President Biden's $2 trillion infrastructure plan, which contains a goal to add 500,000 new EV chargers by 2030. There are currently around 41,000 public charging stations in the U.S.
  • The company will also begin selling its "Ultium" branded level 2 home and commercial charging stations to customers in dealerships and online. The Ultium chargers are available to GM and non-GM owners and will begin shipping next year.
  • Analysts have praised GM's electrification strategy after the company set ambitious goals in its transition to EVs.
 

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