Category: Automotive

Polyamides vs. Polyphthalamides – Evonik to Switch Focus Towards New Markets

Evonik is reporting to switch its direction with regard to performance materials’ development and production. It’s decided to drop its polyphthalamide manufacturing operations and instead focus on transparent polyamides aimed at specialist markets.  To make the move, scheduled to be completed early in 2020, Evonik plans to shut down its polyphthalamide sales and production operation… Continue reading Polyamides vs. Polyphthalamides – Evonik to Switch Focus Towards New Markets

Ferrari’s first plug-in hybrid can go from 0–62 mph in 2.5 seconds

Ferrari has announced its first plug-in hybrid car, the SF90 Stradale. Alongside its V8 turbo engine, which the company claims has the highest output of any 8-cylinder in its history, the car has a total of three electric motors (two on its front axes and one on its rear). Combined, the combustion engine and motors… Continue reading Ferrari’s first plug-in hybrid can go from 0–62 mph in 2.5 seconds

FirstGroup to sell Greyhound buses

FirstGroup signalled it is considering breaking itself up by seeking a buyer for its Greyhound buses in the US. The Aberdeen-based company, under fire from an activist investor, is also looking at spinning off its UK buses arm, First Bus. Matthew Gregory, chief executive since November, indicated the group’s train franchises could be reviewed and… Continue reading FirstGroup to sell Greyhound buses

Barclays says Tesla is ‘stalling as a niche automaker’ and cuts its price target to $150

Elon MuskMike Blake | ReutersBarclays cut its price target on Tesla on Thursday and said the market is finally coming around to the firm's thesis on the automaker.
The firm also said Tesla is “stalling as a niche automaker,” and cut its 12-month price target to $150 from $192.
“Model 3 demand is stagnating in the US, the company still doesn't have a path to significant auto profitability and solar storage installations have declined sequentially over the past two quarters,” analyst Brian Johnson said.
“While Mr. [Elon] Musk is pivoting to the remaining 'hyberbull' full robotaxi scenario, his efforts to spring excitement around Tesla's full self-driving capabilities was broadly met with the appropriate skepticism. We expect more investors to gravitate back to Tesla's near-term fundamentals of demand, profitability, and cash generation, areas that are now more exposed as the blue pill thesis washes away.”
Shares of Tesla closed Wednesday at $189.86 and are down about 0.60% in premarket trading after the Barclays call. The shares are down by 40% this year and 20% this month alone as investors raise questions about the company's ability to deal with rising costs even after a capital raise. CEO Musk sent an email to employees on Monday asking them to control costs and that the second quarter could be a record for vehicle deliveries “if we execute well.”