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UPDATE 3-Ford recalls 2 million trucks over seat belt fire risk

WASHINGTON (Reuters) – Ford Motor Co (F.N) said on Thursday it would recall 2 million F-150 pickup trucks in North America because of a seat belt problem that could generate excessive sparks and cause fires. The second-largest U.S. automaker said it received 17 reports of smoke or fire in the United States and six in… Continue reading UPDATE 3-Ford recalls 2 million trucks over seat belt fire risk

Uber makes it easier to switch between rides, scooters, bikes and car rentals

You may remember how Uber laid out its ambitions to become a multi-modal transportation company back in April with the announcement of Uber Rent, preceded by a $200 million acquisition of bike-share startup JUMP. Now, Uber is making it easier to access those modalities with the addition of Mode Switch, Uber CEO Dara Khosrowshahi announced… Continue reading Uber makes it easier to switch between rides, scooters, bikes and car rentals

Nissan redraws India strategy, to focus on premium cars

NEW DELHI (Reuters) – Nissan Motor Co (7201.T) will produce and sell only premium vehicles in India, while using its sister brand Datsun to crack the mass budget car market, in a revamp of its strategy in the country, a company executive said on Thursday. FILE PHOTO: Logo of the Nissan Motor Co. is displayed… Continue reading Nissan redraws India strategy, to focus on premium cars

Watch Deutsche Accumotive Battery Production

5 H BY MARK KANE Deutsche Accumotive is Daimler’s battery arm If you ever wondered how Daimler’s Deutsche Accumotive produces the batteries for electric smart cars in Kamenz, Saxony in Germany, here is a video that shows the process. The company only assembles the modules and packs, as the lithium-ion cells come from LG Chem. In… Continue reading Watch Deutsche Accumotive Battery Production

Tesla modifies product policy to accommodate “good-faith” security research

Electric car maker Tesla Motors has modified its product security guidelines this week to accommodate the work of security researchers. Tesla says it will allow security researchers to register themselves with the company as a “good-faith security researcher” and their Tesla cars as “research-registered vehicles.” The company says it will provide assistance, over-the-air updates, and… Continue reading Tesla modifies product policy to accommodate “good-faith” security research

According to Brandbrief: Forecasts missed and confidence lost – Continental needs the turnaround

loss of confidence Investors have used a massive loss of confidence. Investors find it hard to believe what the Conti leadership promises. (Photo: AP) At the end of July there is still a spirit of optimism in Hanover. Conti boss Elmar Degenhart picks up a spade and shovels sand properly. The start of construction for… Continue reading According to Brandbrief: Forecasts missed and confidence lost – Continental needs the turnaround

Tesla will meet its Model 3 goal so buy the stock, Oppenheimer says

Stephen Lam | Reuters
A parking lot of predominantly new Tesla Model 3 electric vehicles is seen in Richmond, California, U.S. June 22, 2018.

Oppenheimer believes Telsa will meet its third-quarter targets for Model 3 production and profitability.

The firm reiterated its outperform rating for the electric car maker's shares, citing strong third-party August sales estimates.

Tesla shares rose 1.3 percent Thursday after CEO Elon Musk tweeted that the company was “1st, 2nd & 3rd in August sales,” pointing to a report by InsideEVs.

“While Inside EVs' estimates are just that, estimates, we believe the service has been effective in identifying directional and order of magnitude trends on monthly shipments for Model 3 in lieu of verified data from the company,” analyst Colin Rusch said in a note to clients Thursday. “We believe TSLA is tracking toward achieving its 3Q:18 guidance.”

Rusch reiterated his 12-18 month $385 price target for Tesla shares, representing 37 percent upside to Wednesday's close.

Previously, Tesla gave production guidance for the third quarter of 50,000 to 55,000 Model 3 cars and a gross margin of “roughly” 15 percent for the vehicle.

The analyst noted that InsideEVs estimate for second-quarter Model 3 deliveries was 18 percent below the actual number the company reported. He said if Tesla consistently produces 4,300 Model 3 cars per week, it can reach the high end of its guidance for the third quarter.

“We believe TSLA has the potential to be a transformational technology company and deliver outsized returns,” he said.

Tesla did not immediately respond to a request for comment.

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Nissan studies electric options for Datsun

NEW DELHI: Nissan’s low-cost brand Datsun may be strapped with electric versions as the Japanese car major has started exploratory work on developing affordable electric solutions for India. The development comes at a time when the company plans to drive in its Leaf electric hatch into the country through the import route while also looking… Continue reading Nissan studies electric options for Datsun