Automotive: PSA struggling in the first half

The bad signs of the first quarter were confirmed. Global sales of PSA (Peugeot, Citroën, DS, Opel, Vauxhall brands) fell by 12.8% in the first half to 1.9 million vehicles, affected in particular by the shutdown of sales in Iran and trade difficulties in China . It is the Peugeot brand that signs the biggest… Continue reading Automotive: PSA struggling in the first half

Ferrari N.V. announces final results of the cash tender offers on certain series of its euro notes

Maranello, Italy 12 July 2019 – Ferrari N.V. (NYSE/MTA: RACE) (Ferrari or the Company) hereby announces the final results of its invitation to eligible holders (subject to the offer restrictions referred to in the Tender Offer Memorandum (as defined below)) of the Company’s outstanding €700,000,000 0.250 per cent. Notes due 16 January 2021 (ISIN: XS1720053229)… Continue reading Ferrari N.V. announces final results of the cash tender offers on certain series of its euro notes

Ferrari N.V. announces indicative results of the cash tender offers on certain series of its euro notes

Ferrari N.V. (NYSE/MTA: RACE) (Ferrari or the Company) hereby announces, on a non-binding basis, the indicative results of its invitation to eligible holders (subject to the offer restrictions referred to in the Tender Offer Memorandum (as defined below)) of the Company’s outstanding €700,000,000 0.250 per cent. Notes due 16 January 2021 (ISIN: XS1720053229) (the 2021… Continue reading Ferrari N.V. announces indicative results of the cash tender offers on certain series of its euro notes

A Ford-Volkswagen alliance with Argo could redraw self-driving sector

An expanded alliance between Ford Motor Co and Volkswagen AG that includes a partnership in Ford self-driving unit Argo AI could redraw the balance of power in autonomous vehicles.Argo has been overlooked as Waymo, Alphabet Inc’s self-driving subsidiary, has deployed its robo-vans, and General Motors Co’s Cruise Automation subsidiary has raked in billions of dollars in investments.VW recently concluded a development agreement with Aurora, the Silicon Valley self-driving start-up that includes Hyundai Motor Co and Fiat Chrysler Automobiles among its customers. More sourcesA Ford-VW alliance with Argo could redraw self-driving sector (Reuters: Jul 12, 2019 at 12:39 AM)

LG Chem looks for location for second US battery factory

With more automakers lining up to buy lots of batteries for electric cars, leading battery supplier LG Chem is planning to build a second battery factory in the U.S., according to a Reuters report citing three people familiar with the matter.

The company is considering sites in Kentucky and Tennessee among other locations.

LG Chem already operates a battery assembly facility in Holland, Michigan, which supplies batteries to GM for the Chevy Bolt EV. The new factory would supply Volvo, Fiat Chrysler, and potentially Hyundai and Volkswagen—plus additional batteries to GM.

LG already supplies batteries to Volkswagen in Europe and has been involved in disputes with the automaker over prices and supplies. Its Korean rival, SK Innovation, is building a new factory in Georgia to supply cells to Volkswagen, for locally produced MEB electric vehicles, and Mercedes-Benz, for its new EQC that is expected to go into production in Alabama next year.

SKI was sued by LG Chem in May, with LG alleging that SKI stole battery trade secrets by hiring several of its former employees, and seeking an injunction against SKI selling the batteries. The court has not yet ruled on the case.

Amid dramatic growth in electric-car production, automakers are starting to face supply shortages and price increases in EV batteries, and the U.S. has put raw materials for lithium batteries on the list of critical materials to develop more domestic production quickly.

Today, only one lithium mine is in operation in the U.S., in northern Nevada. Another has been granted exploratory permits in North Carolina.

On a trip to South Korea last month, President Trump applauded South Korean companies, including SKI, for investing in production in the U.S.

LG Chem To Build Second Battery Factory In The U.S.

The location could be Kentucky or Tennessee. Production expected from 2022 on. LG Chem is expected to build a second lithium-ion cell plan in the U.S. as the plug-in electric car market expands. The South Korean manufacturer already produces batteries in Michigan, as well as in South Korea, China and Poland. The decision about the… Continue reading LG Chem To Build Second Battery Factory In The U.S.

A Ford-VW alliance with Argo could redraw self-driving sector

DETROIT, July 11 (Reuters) – An expanded alliance between Ford Motor Co and Volkswagen AG that includes a partnership in Ford self-driving unit Argo AI could redraw the balance of power in autonomous vehicles. A Ford-VW collaboration with Argo, the Pittsburgh-based start-up that has spearheaded Ford’s self-driving development since 2017, could help reduce the engineering… Continue reading A Ford-VW alliance with Argo could redraw self-driving sector

German automotive supplier ZF to deliver powertrain for Daimler’s new electric SUV

BERLIN, July 10 (Xinhua) — The powertrain components of Daimler's new electric SUV, the EQC, will come from German automotive supplier ZF Friedrichshafen AG, announced Wolf-Henning Scheider, chief executive officer (CEO) of ZF, in an interview with the newspaper Stuttgarter Zeitung on Wednesday.
Germany's third largest automotive supplier will provide the “complete driveline module” for Daimler's EQC family, from electric motors to single-gear transmissions with differentials, as well as the control software, Scheider explained.
The order placed by Daimler was “an important milestone,” Scheider said, but did not specify the volume of the powertrain order. It is up to Daimler to reveal any “details” of the deal, he said.
Last week, ZF already announced its “second largest single order” by Fiat Chrysler Automobiles (FCA) for eight-speed automatic transmissions, which “feature an integrated electric drive for hybrid variants.”
ZF's cooperation with FCA “confirms our s..

FCA chairman says Renault merger plan was ‘act of courage’-paper

FILE PHOTO: The logos of Renault and Fiat carmakers are seen in Nice, France, June 3, 2019. REUTERS/Eric Gaillard/File Photo MILAN (Reuters) – The merger proposal made by Fiat Chrysler (FCA) (FCHA.MI) to Renault (RENA.PA) in May was an “act of courage” but the Italian-American carmaker felt the conditions were not right to go ahead,… Continue reading FCA chairman says Renault merger plan was ‘act of courage’-paper

34 distribuidores de FCA México obtienen la designación Customer First – Award for Excellence 2019

34 distribuidores de FCA México obtienen la designación Customer First – Award for Excellence 2019 ·       34 distribuidores Chrysler, Jeep®, Dodge, Ram y FIAT obtuvieron la certificación Customer First – Award for Excellence 2019 ·       Los distribuidores designados brindan el más alto nivel de experiencia en ventas y servicio 10 de julio de 2019 , Ciudad de México –FCA… Continue reading 34 distribuidores de FCA México obtienen la designación Customer First – Award for Excellence 2019