Category: Automotive

Velodyne Lidar’s Sponsorship of Autonomous Vehicle Competition in China Advances Research and Development of Self-Driving Cars

BEIJING–(BUSINESS WIRE)–At the 10th China Intelligent Vehicles Future Challenge (IVFC), Velodyne Lidar, Inc. sensors played a prominent role in enabling self-driving vehicles from multiple teams to navigate real and complex road traffic environments. As an IVFC sponsor, Velodyne had its industry-leading lidar sensors on 20 of the 27 participating teams, including the competition’s winner, at… Continue reading Velodyne Lidar’s Sponsorship of Autonomous Vehicle Competition in China Advances Research and Development of Self-Driving Cars

Lyft founders to tighten grip with supervoting shares in IPO: WSJ

An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California, U.S. September 21, 2017. REUTERS/Chris Helgren (Reuters) – Lyft Inc founders are preparing to take near-majority voting control of the ride-hailing company when it goes public this year, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter. The… Continue reading Lyft founders to tighten grip with supervoting shares in IPO: WSJ

Nissan takes $83m charge on Carlos Ghosn

Nissan has taken a 9.2bn yen ($83m; £64.5m) charge tied to compensation for former chairman Carlos Ghosn. The charge was reported in the firm’s first results since Mr Ghosn’s arrest for financial misconduct, and Nissan said it reflected additional expenses related to payments to its former boss. The carmaker also cut its full-year profit forecast… Continue reading Nissan takes $83m charge on Carlos Ghosn

ROLLS-ROYCE MOTOR CARS CALLS FOR IMPROVED PARKING AND SPEEDING CONTROLS IN LOCAL AREA

Rolls-Royce Motor Cars has today called upon the local authorities to urgently improve parking and speeding controls on roads around the company’s Head Office and Manufacturing Plant at Goodwood, West Sussex. Rolls-Royce has consistently and publicly voiced concern at the lack of local controls, and calls upon Sussex Police, West Sussex County Council and Chichester… Continue reading ROLLS-ROYCE MOTOR CARS CALLS FOR IMPROVED PARKING AND SPEEDING CONTROLS IN LOCAL AREA

Tesla’s charging stations are a massive ‘competitive moat,’ Morgan Stanley says

CNBC visits the only Telsa Supercharger station with a lounge
8:59 AM ET Sat, 27 Jan 2018 | 02:20

Tesla has built up a global network of charging stations, which Morgan Stanley analyst Adam Jonas pointed to as a possible “competitive moat” for the company compared to other electric vehicle makers.

“We estimate Tesla's chargers may account for 30 percent to 40 percent of total US charging outlets counted by the US Dept. of Energy,” Jonas said in a note to investors on Tuesday. Jonas is widely followed on Wall Street for his thoughts on Tesla and electric vehicles.

Tesla upped its network of global “supercharger” stations to nearly 13,000 by the end of last year, while also increasing its total “destination chargers” to more than 21,000. Superchargers refuel most Tesla batteries in about an hour, whereas destination charging stations provide longer charging times more suited for long stays at malls or overnights at hotels.

VCG/VCG | Getty Images
A Tesla supercharging station in Tianjin, China.

“Part of the strategic attraction to Tesla is its physical infrastructure footprint, which we believe, over time, can improve the customer experience, reduce friction points, and support the fleet management of many millions of Tesla vehicles on the road and in both captive and 3rd party commercial fleets,” Jonas said.

Morgan Stanley estimates Tesla will expand the supercharger network to 15,000 stations “by 2030 to support a Tesla on-the-road fleet size approaching 13 million units,” Jonas said.

Growth in Tesla's charging network “is far slower than the growth in Tesla's car population,” Jonas said he estimates. The network grew by about 40 percent year-over-year, he said, whereas the number of Tesla's on the road increased by 83 percent. Additionally, the Tesla fleet “has grown far faster than its physical store and service location network, raising investor concerns about strain on the system,” Jonas said.

“While Tesla has made efforts to address issues with service quality (such as increasing its Mobile Service fleet to 411 vehicles), the customer service experience appears to have significant room to improve,” Jonas added.

Tesla shares rose 1.3 percent in premarket trading from Monday's close of $312.84 a share. Morgan Stanley has an equal-weight rating on Tesla and a price target of $283 a share.

Watch: How taxpayers have boosted Elon Musk and Tesla

How taxpayers have boosted Elon Musk and Tesla
10:06 AM ET Mon, 22 Oct 2018 | 07:43

Nissan cuts profit forecast as it takes £65m Carlos Ghosn charge

Nissan Japanese says it will face additional expenses linked to payments to former chairman Nissan lowered its 2018 forecast to an operating profit of £3.2bn. Photograph: Tannen Maury/EPA Japanese carmaker Nissan has cut its full-year profit forecast and taken a 9.2bn yen (£65m) charge related to the scandal around its former chairman, Carlos Ghosn, who… Continue reading Nissan cuts profit forecast as it takes £65m Carlos Ghosn charge

SEAT is presenting its next vehicle, engineered for urban mobility, at the MWC

SEAT is getting ready to participate at the Mobile World Congress, the global benchmark event of mobile technology and connectivity, for the fifth year in a row. The brand is putting the final touches on its world premiere of a vehicle that will make a difference in SEAT’s urban micromobility strategy. Company President Luca de… Continue reading SEAT is presenting its next vehicle, engineered for urban mobility, at the MWC