OEMs – Page 4772 – I wish I had more to offer

Volvo Cars reports first quarter 2019 results

Volvo Cars reports first quarter 2019 operating profit of SEK2,919 million CEO Håkan Samuelsson: “The sales growth in the first quarter proves the appeal of Volvo Cars product portfolio. We grew in all three regions and revenue continued to rise faster than volumes. Compared with last year, profitability was affected by higher tariffs… Continue reading Volvo Cars reports first quarter 2019 results

Volkswagen is allowed to build factory for electric cars in China

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Benedikt Schell to become the new CEO of Mercedes-Benz Bank AG

25.

April 2019

Stuttgart

Stuttgart. The Supervisory Board of Mercedes-Benz Bank AG has picked the successor for the CEO position. Franz Reiner (51), who will take over as chairman of Daimler Financial Services AG effective June 1, 2019, will be succeeded at the same time by Benedikt Schell (48) as the new CEO of Mercedes-Benz Bank. Up to now, he has been responsible for the worldwide customer and digital strategy as well as for the transformation of the business models in his position as Chief Experience Officer. Daimler Financial Services will provide information about his successor in the near future.
Mercedes-Benz Bank is one of the leading automotive banks in Germany and closed the 2018 business year with record numbers. At year's end, it had more than 950,000 leased and financed vehicles on the books totaling 26.2 billion euro, which represents an increase of 9% over last year. More than one out of every two vehicles sold by Daimler Group is financed or leased through..

PSA boss: rehabilitation of Opel not yet completed

Kia Motors Announces 2019 1Q Business Results

Kia’s 2019 1Q sales revenue at KRW 12.44 trillion Operating profit at KRW 594.1 billion; Net profit KRW 649.1 billion Total global sales of 648,913 units Kia to improve sales with new RV models including flagship SUV Telluride Kia Motors Corporation announced its 2019 first quarter business results today in Seoul. The company posted first… Continue reading Kia Motors Announces 2019 1Q Business Results

Q1 2019 Group revenue at €18 billion

Groupe PSA Q1 revenue slightly down 1.1% at €18 billion; Automotive division[1] revenue at €14.2 billion (-1.8%): Strong product mix and positive price effect; In Europe, steady market share increase: +0.3 pt[2] and sales up 1.6%; Negative impact of exchange rates especially in Argentina and Turkey; Consolidated worldwide sales down 15.7% in particular due to… Continue reading Q1 2019 Group revenue at €18 billion

Honda Global | April 25, 2019 Honda Sets All-Time Fiscal Year Records for Automobile Production Worldwide, in Asia and China

Honda Motor Co., Ltd. today announced a summary of automobile production, Japan domestic sales, and export results for the fiscal year ended March 31, 2019 as well as for the month of March 2019. Worldwide Production Fiscal Year 2019(’18 Apr. – ’19 Mar.) March 2019 Units vs.FY18 Units vs.’18 Japan 911,837 　 +10.0% 80,461… Continue reading Honda Global | April 25, 2019 Honda Sets All-Time Fiscal Year Records for Automobile Production Worldwide, in Asia and China

Honda Global | April 16, 2019 Honda Exhibits the World Premiere of the X-NV Concept, a Concept Model for its Second China-exclusive Electric Car, at Auto Shanghai 2019

SHANGHAI, China, April 16, 2019 – Honda today exhibited the world premiere of the X-NV Concept, a concept model of its China-exclusive electric vehicle (EV), at Auto Shanghai 2019 (The 18th International Automobile & Manufacturing Technology Exhibition, Press days: April 16-17, 2019, Public days: April 18-25, 2019). The X-NV Concept developed jointly by Honda Motor… Continue reading Honda Global | April 16, 2019 Honda Exhibits the World Premiere of the X-NV Concept, a Concept Model for its Second China-exclusive Electric Car, at Auto Shanghai 2019

Tesla Releases First Quarter 2019 Financial Results

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Tesla Releases First Quarter 2019 Financial Results

Apr 24,2019

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Tesla Releases First Quarter 2019 Financial Results

PALO ALTO, Calif., April 24, 2019 (GLOBE NEWSWIRE) — Tesla has released its financial results for the first quarter of 2019 by posting the current Update Letter on its Investor Relations website. Please visit http://ir.tesla.com to view the letter.

As previously announced, Tesla management will host a live question & answer (Q&A) webcast at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss the results and outlook.

The webcast will be archived on the company’s website following the call.

Source: Tesla, Inc.

Ford Drops $500 Million Into Rivian In Bid To Electrify Its F-Series Trucks

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Published on April 24th, 2019 |

by Kyle Field

Ford Drops $500 Million Into Rivian In Bid To Electrify Its F-Series Trucks

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April 24th, 2019 by Kyle Field

It is time for the quintessential American vehicle to finally go electric, and no, I’m not talking about another Tesla. Ford has announced a $500 million equity investment into electric truck and SUV builder Rivian. Ford hopes to use the injection of cash to get a foot in the door for the development of a line of electric trucks and SUVs built on top of Rivian’s electric vehicle skateboard platform.

“This strategic partnership marks another key milestone in our drive to accelerate the transition to sustainable mobility,” said Rivian’s founder and CEO RJ Scaringe. “Ford has a long-standing commitment to sustainability, with Bill Ford being one of the industry’s earliest advocates, and we are excited to use our technology to get more electric vehicles on the road.”

The announcement comes on the heels of significant investment interest in Rivian, resulting in an impressive $700 million funding round led by Amazon that hinted at a revolution in electrified delivery vehicles and beyond for the retail titan. A would-be investment in Rivian from General Motors around the same time fell through in the later phases, as Rivian reportedly walked away from the talks earlier this month. Rivian CEO RJ Scaringe told Fortune that Rivian preferred to keep its options open, hinting that GM was perhaps seeking an exclusive arrangement with Rivian. Or maybe Rivian just knew Ford was providing a better offer and was being nice.

It is clear now that Ford was able to not only work through any contractual issues with its investment, but was also able to swallow its pride enough to invest a chunk of change into an up and coming electric truck company. Trucks are Ford’s bread and butter, which makes the Rivian deal that much more interesting. It is a clear sign that Ford believes that the future is electric and it hopes to use Rivian’s mastery of the space to build its next generation of oversized, electrified SUVs and trucks.

“We are excited to invest in and partner with Rivian,” said Bill Ford, Ford’s executive chairman. “I have gotten to know and respect RJ, and we share a common goal to create a sustainable future for our industry through innovation.”

The three top selling vehicles in the United States are trucks, amounting to more than 2 million vehicles sold per year, but even with such a dedicated base, they have not seen much love in the world of vehicle electrification. That’s largely due to electric vehicles having an image as eco-mobiles that has created a rift between internal combustion fired vehicles and electric vehicles. The falling prices of lithium-ion batteries paired with the mind-blowing performance of electric vehicles have made electric vehicles attractive options in the passenger vehicle segment and they are now primed to tackle middle-America’s darling trucks and SUVs.

Rivian’s R1T electric truck and the R1S sport utility vehicle are geared towards higher-end luxury consumers, much like Ford’s Lincoln lineup of vehicles, leaving plenty of room for an electric work truck for the masses branded with Ford’s iconic blue oval.

With Tesla expected to announce its electric truck later this year for production in 2020, this might come as a disappointment to all the Tesla fans out there, but that could not be farther from the truth. Tesla almost singlehandedly created the electric vehicle revolution in western markets and has become all but synonymous with electric vehicles in those markets as a result. The reality, though, is that Tesla was not started to make billions or even trillions of dollars for shareholders, evil villains or that crazy Musk guy.

Tesla was founded to accelerate the adoption of electric vehicles and the sustainable energy that will power them. Said another way, this giant investment from the company that sells more trucks in the United States than anyone else is just one more milestone along the way towards cleaner, more sustainable transportation that also happens to be faster, quieter, less bumpy, and let’s be honest, more fun, than the vehicles they are replacing. It’s worth celebrating by everyone and great news for the cleantech world and beyond.

About the Author

Kyle Field I'm a tech geek passionately in search of actionable ways to reduce the negative impact my life has on the planet, save money and reduce stress. Live intentionally, make conscious decisions, love more, act responsibly, play. The more you know, the less you need. TSLA investor.

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