China electric car firm Faraday Future says obtains $225 mln in bridge financing

SHANGHAI, April 30 (Reuters) – Chinese electric vehicle developer Faraday Future said on Tuesday that it had obtained up to $225 million in bridge financing from a U.S. merchant bank to allow it to complete the development of its flagship FF91 model. Faraday, which has ambitions to overtake Tesla Inc, said in November that it… Continue reading China electric car firm Faraday Future says obtains $225 mln in bridge financing

Honda Confirms Civic Production Will Continue In North America

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More on this:1 All Honda Civic Type R Models Gather for a Hot Hatch Reunion Video2 Honda Closing UK Plant, Could Relocate Civic Hatchback Production To the U.S.3 Report: Honda to Close UK Factory4 Honda Ridgeline Recalled Over Cracked Fuel Pump Feed Port5 Honda Electric Urban Car Dashboard Looks Like a High-Tech Office Desk

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Honda Confirms Civic Production Will Continue In North America

25 Feb 2019, 14:42 UTC ·
by Mircea Panait

Home > News > Industry

First came a report, then Honda confirmed the closure of the Swindon facility for 2021. There’s no denying the United Kingdom took another hit Brexit-related hit, and guess what? Amidst this uncertainty, Honda appears to have chosen North America to take over from the British manufacturing plant.
10 photos“Given our efforts to optimize production allocation and production capacity on a global scale, we have concluded that we will produce the Civic for North America in North America,” said chief executive officer Takahiro Hachigo. The head honcho doesn’t mention the hatchback or Type R, but the background of this complication leads us to believe that Hachigo is referring to the five-door body style.
Automotive News understands that “Honda is reworking its global production footprint for three reasons.” It all starts with soaking up excess capacity. The second reason is electrification, which implies the retooling of the Japanese automaker’s plants. As for the third motivation, that’d be to refocus on the markets where Honda sells the most vehicles.
Honda sold 5.24 million vehicles in 2018, 3 percent fewer than the automaker’s production capacity of 5.4 million cars. By closing a couple of plants and switching production from one place to another would translate to 5.1 million.
Even though Hachigo told Automotive News that Brexit doesn’t have anything to do with Swindon, we doubt he’s telling the truth. If the case of Hard Brexit, the United Kingdom would leave the single market and customs union. “No Deal” would be even worse, translating to a sudden split from the European Union without a transition period.
Speaking of the Old Continent, Japan and Europe signed a free-trade accord only recently. A key part of the agreement “addresses specific sensitivities in the EU, for instance in the automotive sector, with transition periods of up to seven years before customs duties are eliminated.” Given this consensus, it isn’t hard to understand Honda’s decision to move production out of the United Kingdom.
Production of the Civic Sedan for North America takes place in Canada and Indiana while the 1.5- and 2.0-liter turbocharged engine options are made in Ohio. The CVTs are sourced from Ohio and Mexico, making it easy to understand Honda’s preference for North America.
The Civic Sedan is also manufactured in Turkey, but Honda announced that it's stopping production towards the end of 2021 too. As it happens, there’s not much demand for the three-box body style in this part of the world.

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HONDA models:HONDA Passport Large SUVHONDA Civic Coupe CoupeHONDA Civic Sedan CompactHONDA HR-V Medium SUVHONDA Pilot Large SUVAll HONDA models

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500,000th Fiat Tipo Rolls Off the Production Line

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500,000th Fiat Tipo Rolls Off the Production Line

26 Feb 2019, 10:31 UTC ·
by Mircea Panait

Home > News > Car Profile

Fiat isn’t doing too well because the Italians rely too much on the 500 family and on the pedigree of the Panda. The Tipo is somewhat different because it’s been developed an affordable means of transportation.
27 photosWhile cheap, the Tipo isn’t cheerful. Entry-level trims feature low-quality materials throughout the cabin and unimpressive engine options. Go for the other end of the spectrum, and the price gets prohibitive for this segment.
From a high point of 123,762 examples of the breed, sales fell to 102,341 in 2018 as crossovers and SUVs gain preference in Europe. Despite these unimpressive numbers, Fiat is much obliged to announce that 500,000 units have been manufactured in Bursa, Turkey in three years.
The 500,000th car is the Tipo Sport hatchback pictured in the main photo, featuring Mopar parts such as the rear bumper with aerodynamic diffuser. Over 70 percent of the production was sold outside of Italy, making the Tipo the second best-selling Fiat worldwide.
Scale is of the essence this time around. For example, the more expensive and larger Skoda Octavia sold 216,676 units in 2018. As for the Volkswagen Golf, make that 445,303 in Europe alone. Given this information, “the second best-selling Fiat worldwide” doesn’t sound as impressive as it did in the previous paragraph.
The Italians dare to claim the Tipo “is a kind of tailored garment, able to satisfy every customer’s mobility needs and tastes.” Fiat also tried to convince youngsters the Tipo is cool despite the fact most prefer the competition.
Available in three body styles (sedan, hatchback, station wagon) and four trim levels (Street, Mirror, S-Design, Sport), the Fiat starts at €14,800, €16,050, and €17,300 in Italy. A 1.4-liter with 95 PS comes standard, complemented by the 1.3-liter MultiJet (95 PS) and 1.6-liter MultiJet (120 PS).
Depending on the market and engine, what Fiat calls Aegea in Turkey can be optioned with a six-speed automatic or dual-clutch transmission. Last, but certainly not least, the Tipo has been developed to replace three models. These are the Bravo hatchback, Linea sedan, and Stilo MultiWagon.

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FIAT models:FIAT 500 X CrossoverFIAT Fullback Double Cab Heavy Duty PickupFIAT Fullback Cross Fullsize PickupFIAT Fullback Extended Cab Fullsize PickupFIAT 124 GT Abarth Roadster & ConvertibleAll FIAT models

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Daimler Aims For 3 MW Charging For Electric Trucks

3 MW is comparable to 1,000 base 3 kW charging stations for cars or 1,000 households. Daimler Trucks North America, in one of its job listings, seeks an eMobility Senior Engineer – Vehicle Charging Systems (L5), which would participate in the development of very high power charging systems for electric trucks at up to 3 MW.… Continue reading Daimler Aims For 3 MW Charging For Electric Trucks

Paris-based shipping and logistics startup Fretlink lands €25 million to expand its range of services

Paris-based Fretlink connects shippers to the largest hub of local carriers in Europe, helping them to secure, manage, and optimize their transportation plans, while helping carriers to drive their business growth. For those of you who are joining us at the EU-Startup Summit on May 2-3 in Barcelona, Fretlink Co–Founder & CEO Paul Guillemin will be joining us to speak on our Future of Transportation panel.

Founded in 2015, the road transit specialist has just raised €25 million in a Series B round from the corporates Edenred and TIP, as well as existing investors including Daphni, Elaia Partners, Breega Capital, The Family, SGH Capital and Tekton Ventures. Also participating in the round was the Weaving Invest fund and the business angel F Grinda.

Edenred has a sector dedicated to mobility, and more specifically, fleet management, while TIP specializes in leasing industrial vehicles, with more than 70,000 trucks in Europe. These two new investors should allow Fretlink to enrich its of..

Ford Adds 550 Jobs In Kentucky Truck Plant To Boost SUV Production

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Ford Adds 550 Jobs In Kentucky Truck Plant To Boost SUV Production

22 Mar 2019, 7:53 UTC ·
by Mircea Panait

Home > News > Car Profile

If you’re in the market for a full-size SUV with truck underpinnings and convenience for the whole family, it’s hard to go wrong with the Expedition. Redesigned for the 2018 model year, Ford can’t keep up with demand for the successor of the fifth-generation Bronco.
26 photosWhat does an automaker do when people want a product but don’t like to wait for their order to roll off the assembly line? Invest in the Kentucky Truck Plant in Louisville, of course! Adding 550 new jobs is just the tip of the iceberg, more so if you remember the Lincoln Navigator is also selling like hot cakes.
Through those 550 jobs, Ford plans to ramp up production by 20 percent. Expedition sales increased 35 percent in 2018 while the Navigator improved 70 percent. There’s also the matter of average transaction price, which grew by $11,700 to $62,700 last year.
Supporting these efforts, Ford is launching a new marketing campaign this week. “Better Big” focuses on the best-in-class towing and legroom of the Expedition, as well as the most driver-assist technology in the segment. “We ‘out-big’ the competition where it counts – towing, interior space and technology,” declared Matt VanDyke, director of U.S. marketing. “Our team completely rethought every inch of Expedition, and its growing sales reaffirm we hit the sweet spot with today’s full-size SUV customers.”
In addition to more workforce, the Kentucky Truck Plant has increased the line speed by cutting down the cycle times of each operation. How did Ford pull it off? By adding more workstations and splitting up tasks to ensure the employees can finish their jobs in the allotted time, thank you!
Production per se will increase after the summer shutdown in July 2019, and if you were wondering, the Expedition can seat eight people and tow up to 9,300 pounds. For first-time homeowners who are starting new families, that’s an offer few can refuse. Does it come as a surprise Ford is discontinuing most passenger cars in the U.S. lineup to focus on trucks and utilities? Not even slightly!

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General Motors Invests $300 Million, Adds 400 Jobs At Orion For New Chevy EV

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General Motors Invests $300 Million, Adds 400 Jobs At Orion For New Chevy EV

24 Mar 2019, 13:53 UTC ·
by Mircea Panait

Home > News > Industry

Remember when General Motors promised the Bolt would pave the way for two electric crossovers? Neither is here with us, and given Tesla’s advancements, the higher-ups at GM are losing their credibility.
26 photos$300 million of a total of $1.8 billion in investments are going into Orion Township, Michigan to produce “a new Chevrolet electric vehicle.” Too little or too late, you decide on that. The American automaker sweetens the deal by adding 400 new jobs to the Orion plant, which is great news considering how many plants General Motors is closing in North America.
“We are excited to bring these jobs and this investment to the U.S.,” declared chief executive officer Mary Barra in Orion. “This new Chevrolet electric vehicle is another positive step toward our commitment to an all-electric future.” As opposed to Tesla or even Ford with the Mach E, the golden bowtie doesn’t mention anything at all about the body style of the yet-to-be-named model.
The announcement did include “based off an advanced version of the same vehicle architecture” as the Bolt, but that’s not nearly enough. With the Hyundai Kona Electric, Tesla Model 3, and Nissan Leaf Plus out there in stock, General Motors has to come up with a trailblazing product if the higher-ups expect to profit on the Bolt-derived newcomer.
Moving on to internal combustion, Flint Truck Assembly is in the process of adding 1,000 jobs. The Lansing Grand River Assembly Plant prepares to roll out the Cadillac CT5, and speaking of Cadillac, the crown jewel of General Motors will introduce a crossover-styled EV on an all-new platform.
Investments are pouring into Lansing Delta Township and Romulus Propulsion too, as well as Spring Hill in Tennessee. More than $22 billion have been invested by General Motors in U.S. manufacturing operations since 2009, but what for? All of the automaker’s brands are discontinuing products over dwindling sales, and the EV revolution is still far from full swing. Come on, GM, you can do better!

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Magna Steyr Starts Production Of 2020 Toyota GR Supra

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Magna Steyr Starts Production Of 2020 Toyota GR Supra

25 Mar 2019, 12:27 UTC ·
by Mircea Panait

Home > News > Car Profile

Ah, outsourcing! If you were wondering, even Toyota is doing it because of the cost. After all, it’s cheaper to use the tooling and workforce of another company. And thus, the GR Supra is now manufactured in Graz, Austria instead of Motomachi, Japan.
71 photosThis turn of events shouldn’t come as a surprise considering the Supra is related to the Z4, and BMW has a long-running production partnership with Magna Steyr. On the other hand, we can’t imagine that the Austrians have the same quality assurance as Toyota in Japan. Adding insult to injury, the BMW parts utilized by the Supra aren’t the latest word in terms of reliability.
The question is, does reliability matter that much in a sports car? To each his own, but Mazda is a positive example in this regard with the MX-5 Miata. Even though the Supra is available with a 2.0-liter turbo in Europe, the German configurator takes reservations for configurations that start at €62,900.
Over in the United States, the Launch Edition retails at $55,250 and the Supra comes exclusively with the BMW-sourced turbo inline-six engine. Lower down the range, the 3.0 Premium is $53,990 while the 3.0 without Premium starts at $49,990 before destination charge.
Taking the Z4 sDrive30i for reference, the BMW starts at $49,700 with the 2.0-liter TwinPower Turbo inline-four engine. Looking at the bigger picture, both models are expensive from the get-go and both will be produced in limited numbers as a consequence.
Then again, sports cars aren’t selling too well these days. Crossovers and SUVs are at the forefront of demand, and every automaker in the industry is pouring resources into developing crossovers and SUVs as quickly as possible. It’s a matter of supply and demand, and there’s no reason to point the fingers at automakers for these circumstances.
As for the first-ever Supra to roll off the assembly line in Graz, Magna Steyr finished the car in phantom matte grey. The VIN is also special, including 20201 where 2020 marks the model year and 1 indicates the first example of the breed. If you were wondering , VIN 001 has been auctioned by Barrett-Jackson for $2.1 million, and all of the proceeds are going to the Bob Woodruff Foundation and American Heart Association.

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