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End of the road for Volkswagen’s self-driving Aurora deal

BERLIN, June 11 (Reuters) – Volkswagen has ended its partnership with self-driving car software firm Aurora, two days after the Silicon Valley start-up said it would build autonomous platforms for commercial vehicles with Fiat Chrysler . “The activities under our partnership have been concluded,” a VW spokesman said in a statement on Tuesday following an… Continue reading End of the road for Volkswagen’s self-driving Aurora deal

Uber to Launch Helicopter Rides in NYC

The helicopters will be available Monday through Friday during afternoon rush hour. Photo via Uber. Uber’s ride-hailing service will be expanding to include helicopter rides from Lower Manhattan to JFK Airport, according to the New York Times. Beginning July 9, passengers who are Platinum or Diamond members (Uber’s reward program’s top two tiers) can request an eight-minute ride… Continue reading Uber to Launch Helicopter Rides in NYC

Nippon Rent-A-Car to Install Dashcams on All New Vehicles

Nippon said that it is the first car rental company in Japan to install the cameras on new vehicles. Photo via Kuha455405/Wikimedia.  Starting in July, Japan’s Nippon Rent-A-Car will be installing dashboard cameras in all new vehicles, the Japanese Times reports. The cameras are part of an effort to curb reckless driving. All vehicles in Nippon’s… Continue reading Nippon Rent-A-Car to Install Dashcams on All New Vehicles

Over 1,400 self-driving vehicles are now in testing by 80+ companies across the U.S.

In a talk at the Uber Elevate summit in Washington, D.C., today, U.S. Department of Transportation Secretary Elaine Chao shared a total overall figure for ongoing testing of autonomous vehicles on U.S roads: Over 1,400 self-driving cars, trucks and other vehicles are currently in testing by over 80 companies across 36 US states, plus DC… Continue reading Over 1,400 self-driving vehicles are now in testing by 80+ companies across the U.S.

Uber and AT&T team up for always-on connectivity for Uber Copter and Uber Air

Uber is partnering with mobile network operator AT&T on the always-on connectivity it’ll require for its aerial transportation service network. The on-demand mobility company announced the team-up at its annual Elevate Summit, which brings together a number of key players working toward making affordable, accessible in-city aerial transit a reality. Uber said that it’s already… Continue reading Uber and AT&T team up for always-on connectivity for Uber Copter and Uber Air

Uber envisions Uber Air will one day be cheaper than owning a car

Uber has big dreams for Uber Air, the flying taxi service it’s wanting to launch in 2023. At the third annual Uber Elevate, head of Elevate Eric Allison said the company expects Uber Air to be cheaper than driving a car. It surely won’t be that way on day one, but once Uber deploys fully… Continue reading Uber envisions Uber Air will one day be cheaper than owning a car

Where to Bond in Vehicle Assembly Operations?

Let’s discuss selecting a plant location for joining two parts with structural adhesives during vehicle assembly. My example is an automotive or truck part that is a new limited sales option on existing body design and assembly. The part is a rigid plastic, molded SMC (sheet molding compound, a polyester thermoset filled with glass fiber) to… Continue reading Where to Bond in Vehicle Assembly Operations?

Bernstein says Tesla won’t be bought: ‘We struggle to see it being sold as a going concern’

Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China, January 7, 2019.Aly Song | ReutersIt's looking less and less likely that Tesla will find a buyer to save it from its financial struggles and offer it a source of new funding, Bernstein told clients on Monday.
European autos analyst Max Warburton wrote in a note that while Volkswagen's CEO may take a look, there really wouldn't be much support for a bid to acquire any of Tesla's assets.
“What assets are attractive? Tesla no longer has genuinely differentiated tech. The production plant is sub-par. The Gigafactory is probably not essential (and may be claimed by Panasonic),” Warburton wrote. “The brand still has value, albeit one that is declining fast. The Supercharger network also has some value. Perhaps these get picked up. But at what price?”
VIDEO7:0807:08Technician: Tesla so bad, it's worth buying nowFast Money “We struggle to see it being sold as a going concern,” he added.
Tesla used about $950 million of cash in the first quarter (for a combined $5 billion of cash burn since 2017), prompting renewed concerns over its long-term financial health. A few weeks ago, Tesla managed to raise $2.35 billion in new capital, with $750 million of common stock and $1.6 billion from convertible bonds. Others have suggested that another technology company, like Apple, could swoop in and buy Tesla when its assets cheapen.
Roth Capital Partners analyst Craig Irwin told CNBC last month that the electric car company could have sold to Apple six years ago at $240 per share. The stock is down 48% over the last six months at $185.16 a share.
Even though Warburton isn't Bernstein's Tesla analyst, he does cover a number of European auto companies that could be in for a pop if Tesla fails. The Palo Alto, California-based automaker has put “huge pressure” on the valuations of traditional equipment manufacturers in Europe as Tesla's initial success suggested that the barriers to entry in the electric vehicle market weren't as onerous as once thought.
“Its technology seemed ahead of all other OEMs — damaging the Germans' relative brand position. Tesla took market share from the German OEMs in the US, UK and some other regions,” Warburton wrote.
But “financial failure of Tesla would force a change in investors' views of traditional OEMs. It would show how difficult it is for a new entrant to succeed,” he added. “Most important: it would change views on the size and growth rates of the EV market.”
Bernstein's main Tesla analyst, Toni Sacconaghi, has a market weight rating on shares of Tesla.