BMW Vision M Next The futuristic study provides a glimpse into the future of the brand. MunichBMW wants to save its driving pleasure philosophy into an autonomous and electrically driving future. How, the Munich show now with the study Vision M Next. The hybrid sports car largely renounces robot functions and instead puts the human… Continue reading Study: BMW Vision M Next – The future of self-drive
Category: Automotive
Tesla shares drop despite Musk’s prediction of ‘a record quarter on every level’
VIDEO2:1602:16Watch the highlights from Elon Musk speaking at Tesla shareholder meetingAutosTesla shares turned negative Wednesday morning, a day after CEO Elon Musk said the electric auto maker has a “decent shot at a record quarter on every level.”
“I want to be clear: There is not a demand problem,” Musk said at the company's annual meeting with shareholders on Tuesday evening. “Sales have far exceeded production and production has been pretty good so we're actually doing well.”
Tesla shares had jumped 4% in premarket trading Wednesday, before turning negative. By Wednesday's close, the stock was down 3.6%
Musk also said “it won't be long” before the company has an electric car with a range of 400 miles.
In a note to investors after the meeting, Cowen questioned Musk's confidence, saying “basic microeconomic theory would suggest that goods or services that don't have a demand problem don't see their prices lowered by half a dozen times in 4-5 months.” Cowen has an underperform rating and a $140 price target on Tesla shares.
VIDEO3:0003:00Here's why Tesla shares rose following Musk's optimism about demandSquawk BoxBaird, on the other hand, said “the narrative is overly negative,” adding that “bear arguments will be disproven in the coming weeks and months.” Baird has a $340 price target and an outpeform rating on the stock. The firm said there have been “several signs of steady demand over the past few weeks,” a point Musk emphasized during the presentation. Musk said 90% of Tesla's orders are coming “from non-reservation holders, so these are new customers,” he said.
Tesla's stock is down nearly 35% for the year as of Tuesday's close of $217.10 a share but the stock has slowly come back after hitting a low of $179 a share last week.
A key metric for Tesla sales bounced back last month, as the company's Model 3 vehicle saw deliveries higher than expected in May. Overall, Tesla increased total U.S. sales in the month of May by 73% from a year earlier, according to data from Motor Intelligence.
“We continue to see the shares in a tug of war between skeptics and extreme believers, where we have fallen into the skeptical camp for several years,” Cowen said.
BMW will have 25 models electrified in 2023, two years ahead of schedule
MUNICH (GERMANY), Jun 25 (EUROPA PRESS) – The BMW group is accelerating its expansion program in the field of electromobility and will have an offer of 25 hybrid plug-in and electric vehicles for the year 2023, which is two years earlier than initially planned by the company. According to the German consortium in a statement,… Continue reading BMW will have 25 models electrified in 2023, two years ahead of schedule
Volkswagen Navarra works to get the award of a third model
To qualify for its production, the Wolfsburg plant (Germany) demands to meet the productivity and cost efficiency objectives PAMPLONA, June 25 (EUROPA PRESS) – Volkswagen Navarra is currently working to obtain the award of a third model for the factory, which would accompany the Volkswagen Polo and the Volkswagen T-Cross. To qualify for its award,… Continue reading Volkswagen Navarra works to get the award of a third model
Iberdrola leads the round of capital increase of Wallbox for 15 million
The European company of recharging solutions for electric vehicles Wallbox has completed a round of capital increase for 15 million euros, led by Iberdrola along with two other co-investors and some of the current partners of the company. According to Iberdrola, the operation strengthens the commercial alliance maintained by both companies and, in the case… Continue reading Iberdrola leads the round of capital increase of Wallbox for 15 million
The Spanish startup of vehicle subscription Bipi closes financing round for 6.5 million
MADRID, June 25 (EUROPA PRESS) – Bipi, a Spanish startup dedicated to vehicle underwriting, has completed a Series A financing round of 6.5 million euros and has been led by the Israeli fund Maniv Mobility, with the support of investors such as IDC Ventures, TA Ventures and Kibo Ventures, among others. The company said in… Continue reading The Spanish startup of vehicle subscription Bipi closes financing round for 6.5 million
BMW accelerates e-mobility plan, 25 electrified models to roll out in 2023
The BMW Group is raising the tempo of its electromobility expansion programme. The company will now achieve the total of 25 electrified models previously announced for 2025 two years earlier, in 2023. As a result of flexible vehicle architectures for fully-electric, plug-in hybrid and combustion engine drive trains, the company says it is able to respond quickly to changing conditions. More than half of the 25 models will be fully electric.
“We are moving up a gear in the transformation towards sustainable mobility, thereby making our company fit for the future: Over the past two years, we have consistently taken numerous decisions that we are now bringing to the roads. By 2021, we will have doubled our sales of electrified vehicles compared with 2019,” said Harald Kruger, chairman of the Board of Management of BMW AG, in Munich on Tuesday.
“We will offer 25 electrified vehicles already in 2023 – two years earlier than originally planned. We expect to see a steep growth curve towards 2025: Sales of our electrified vehicles should increase by an average of 30 percent every year.”
BMW’s Vision M NEXT
The BMW Group is showcasing the next generation of mobility and next steps it’s taking in that direction. The BMW Vision M NEXT provides a glimpse of the dynamic future of the BMW brand in the form of a striking electrified sportscar. The BMW Vision M NEXT is clearly focused on the person driving the vehicle, with intelligent technology to transform them into the ultimate driver.
Meanwhile, the BMW Motorrad Vision DC Roadster (pictured below) previews the future of BMW Motorrad with alternative drive forms. This highly emotional motorcycle preserves the identity and iconic BMW Motorrad appearance, but also offers a new form of riding fun.
“Our vision is clear: sustainable mobility, produced in a sustainable manner. We have set ourselves the goal of only buying electricity from renewable energy sources for all our locations worldwide from 2020,” said Kruger. “We fulfil our social responsibility – in all its different facets. We are firmly committed to emission-free driving. At the same time, we stand by our corporate responsibility towards our employees, shareholders and investors.”
Half-a-million electrified BMWs on road by end-2019
The BMW Group is already a leading supplier of electrified vehicles. By the end of 2019, the company aims to have more than half-a-million vehicles with fully-electric or plug-in hybrid drive trains on the roads. Within two years, the company will offer five fully-electric series-production vehicles:
Alongside the BMW i3, with more than 150,000 units built to date, this year will see the start of production of the fully-electric MINI at Plant Oxford (UK). This will be followed in 2020 by the fully-electric BMW iX3 from Shenyang (China) and, in 2021, by the BMW iNEXT, which will be produced in Dingolfing (Germany), and the BMW i4 from Plant Munich (Germany).
Including its extensive fleet of plug-in hybrids, the BMW Group has the widest range of electrified vehicles on the market. Updated, extended electric-range plug-in-hybrid versions of the BMW 3 Series, BMW 7 Series and BMW X5 were presented alongside the new BMW X3 plug-in hybrid at this year’s Geneva Motor Show. A few weeks later, the updated plug-in hybrid variant of the BMW X1 Long Wheelbase Version, which is produced locally for the Chinese market, was shown at the Shanghai Auto Show.
Later this year, plug-in hybrid versions of the BMW 5 Series and BMW 2 Series Active Tourer with next-generation technology and longer electric range will also be released. These will be followed next year by the BMW X1 and the BMW 3 Series Touring as plug-in hybrid models. This diversity of electrified drive concepts underlines the importance of technology openness on the road to sustainable mobility.
Also read: Rudratej Singh joins BMW Group India as president and CEO
BMW Group India clocks highest-ever Q1 sales – 2,982 units, up 19%
No-deal Brexit ‘will cost UK car manufacturers extra £70m a day’
Automotive industry SMMT also warns car price will go up by average of £1,500 if UK leaves EU with no agreement The Ford engine plant in Bridgend, Wales, which is set to close. Photograph: Dimitris Legakis/Athena Pictures The cost of car manufacturing will go up £70m a day if the UK leaves the EU without… Continue reading No-deal Brexit ‘will cost UK car manufacturers extra £70m a day’
06/25/2019MAHLE plans closure of its location in Öhringen
MAHLE plans closure of its location in Öhringen
Stuttgart/Germany, June 25, 2019 – MAHLE is planning the closure of its Öhringen location in Germany. All on-site operations will be closed in stages up to the end of 2020. The location currently has 240 employees manufacturing air management systems for combustion engines.
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Press release [PDF; 33 KB] High price pressure: location no longer competitiveNo new orders despite comprehensive countermeasuresClosure in stages up to the end of 2020 On account of its product portfolio, the location has already been under increasing price pressure for several years, particularly due to competition from best-cost locations. Plant structures have been continuously adapted for the deteriorating environment with numerous cutbacks at the location. “Unfortunately, we have now reached a point where the outlook for the plant is not sustainable,” states Wilhelm Emperhoff, Member of the Management Board of MAHLE responsible for the Filtration and Engine Peripherals business unit as well as the Mechatronics division.
The location’s cost structures do not allow for the acquisition of new projects, and most recently, even follow-up orders for existing products with low investment expenditure could no longer be placed in the market. MAHLE’s efforts to generate a sustainable outlook for the Öhringen location with new products and technologies have also proven unsuccessful. We were unable to win any new projects.
As a result of the high financial cost of transformation in the automotive industry, ongoing economic slowdown, and declining demand for diesel vehicles, MAHLE operates in a challenging competitive environment and is increasingly reliant on profitable and sustainable locations. “This is a tough decision for us, but it is unavoidable given the prevailing situation and negative prospects for the Öhringen location,” states Emperhoff.
In the coming weeks, MAHLE will begin discussions with employee representatives with the aim of making the closure of the location as socially responsible as possible.
About MAHLEMAHLE is a leading international development partner and supplier to the automotive industry as well as a pioneer for the mobility of the future. The MAHLE Group is committed to making transportation more efficient, more environmentally friendly, and more comfortable by continuously optimizing the combustion engine, driving forward the use of alternative fuels, and laying the foundation for the worldwide introduction of e-mobility. The group’s product portfolio addresses all the crucial issues relating to the powertrain and air conditioning technology—both for drives with combustion engines and for e-mobility. MAHLE products are fitted in at least every second vehicle worldwide. Components and systems from MAHLE are also used off the road—in stationary applications, for mobile machinery, rail transport, as well as marine applications.
In 2018, the group generated sales of approximately EUR 12.6 billion with more than 79,000 employees and is represented in more than 30 countries with 160 production locations. At 16 major research and development centers in Germany, Great Britain, Luxembourg, Spain, Slovenia, the USA, Brazil, Japan, China, and India, more than 6,100 development engineers and technicians are working on innovative solutions for the mobility of the future.
For further information, contact:MAHLE GmbH
Ruben Danisch
Corporate Communications/Public Relations
Pragstraße 26–4670376 Stuttgart/Germany
Phone: +49 711 501-12199
ruben.danisch@mahle.com
CNG in the electric era: VW wants to refill the natural gas drive
Golf Variant TGI Even the bestseller should be cleaned with natural gas. BerlinAuf the Annual General Meeting in May leaves CEO Herbert dies There is no doubt as to how the priorities in the Volkswagen Group are distributed. For several minutes he talks about climate change, electromobility and the VW– own strategy with battery cells,… Continue reading CNG in the electric era: VW wants to refill the natural gas drive