Musk says Tesla owners who ordered full self-driving version to get chip upgrade

(Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk said a new chip that improves autopilot features would be available six months in advance to people who ordered the full self-driving version of the electric cars. A Tesla electric car supercharger station is seen in Los Angeles, California, U.S. August 2, 2018. REUTERS/Lucy Nicholson… Continue reading Musk says Tesla owners who ordered full self-driving version to get chip upgrade

German carmakers have 50:50 chance of facing Detroit’s fate, VW says

FRANKFURT (Reuters) – German carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform their businesses to meet new regulations and adapt supply chains, Volkswagen’s (VOWG_p.DE) chief executive said on Tuesday. FILE PHOTO: Mechanic staff work on the production line of Volkswagen e-Golf in the Glaeserne… Continue reading German carmakers have 50:50 chance of facing Detroit’s fate, VW says

Shares of Chinese electric car maker Nio rally after Tesla investor takes stake

Top Tesla investor takes stake in Chinese electric carmaker Nio
4:46 PM ET Tue, 9 Oct 2018 | 03:02

Shares of Chinese electric car maker Nio surged more than 13 percent in Wednesday's premarket following reports that Tesla investor Baillie Gifford has acquired an 11.4 percent stake in the company.

Reports of the investment had send shares up 22 percent on Tuesday.

The U.K. investment management firm owns 85.3 million Nio shares, the company said Tuesday in a filing with the Securities and Exchange Commission.

The Baillie Gifford management firm is Tesla's largest outside shareholder, with a 9 percent stake. Tesla's largest investor is CEO Elon Musk, who owns about 20 percent of shares.

Nio's stock closed up 22 percent Tuesday at $7.39. Since Nio shares began trading on Sept. 12, the stock has traded as high as $13.80 and as low as $5.35. When it listed its shares on the New York Stock Exchange last month, the company said it plans to make cars for the Chinese market initially, but it also has ambitions to expand into Europe and the U.S.

Chinese electric car company Nio makes its Wall Street debut
12:44 PM ET Wed, 12 Sept 2018 | 03:40

VW CEO says German carmakers have only 50 percent chance of staying ahead

FRANKFURT (Reuters) – Germany’s carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform to meet new regulations and adapt their supply chains, Volkswagen (VOWG_p.DE) Chief Executive Herbert Diess said on Tuesday. FILE PHOTO: Herbert Diess, Volkswagen’s new CEO, speaks during the Volkswagen Group’s annual general… Continue reading VW CEO says German carmakers have only 50 percent chance of staying ahead

No-deal Brexit disastrous, says Ford boss

Media playback is unsupported on your device Ford’s European boss has said a no-deal Brexit “would be pretty disastrous” for British industry and could affect the company’s future in the UK. Steven Armstrong said he was “still confident” a tariff-free frictionless trade deal would be done. But he told the BBC that a no-deal outcome… Continue reading No-deal Brexit disastrous, says Ford boss

Ford sales in China dropped 43 percent in September

JOHANNES EISELE | AFP | Getty Images
The Ford Mustang is displayed during the 17th Shanghai International Automobile Industry Exhibition in Shanghai.

Ford's sales in China dropped 43 percent in September from the same month a year earlier, a sign that sales are slowing in the world's largest car market.

This is the third straight month of declining auto sales in China.

The second-largest U.S. automaker has been hit by the ongoing trade war between the U.S. and China, despite the fact that Ford sells cars in China through partnerships with local firms.

Ford shares are down nearly 30 percent since the beginning of the year. The stock hit a 52-week low of $8.57 in trading Friday.

“We are intensely focused on our sales turnaround plan in China, which includes an aggressive cadence of product introductions to meet the needs of our Chinese customers, including the launch of the highly anticipated all-new Ford Focus,” said Peter Fleet, president of Ford Asia Pacific and chairman & CEO of Ford China, in a statement. “We believe the new products, which have been custom-designed and developed with Chinese customers in mind, will help us to regain momentum in the world's largest auto market.”

Auto sales are down across the board in China, said Michael Dunne, president of ZoZo Go, an investment advisory firm that follows Chinese autonomous and electrified vehicle companies. This is the first sustained downturn Dunne has seen since the Asian financial crisis in the late 1990s, he said.

There are three major factors driving this decline in demand. The first is a crackdown on certain types of peer-to-peer lending practices in China, a feature of the Chinese financial system that has typically allowed less wealthy Chinese to borrow money at rates better than what banks are offering.

The second is a general cautiousness among Chinese consumers that has emerged recently.

“When times are good, the Chinese are really bullish and bold,” he said. “But when times are uncertain they become exceptionally conservative.”

There is a particular mentality that can take hold among Chinese consumers that is more pronounced than the lack of consumer confidence seen in the United States, for example. “And it is contagious,” he added.

Finally, there is the trade war with the U.S., which has exacerbated the uncertainty many Chinese feel from the overall economic slowdown.

Ford has unique problems in China, Dunne said. The automaker has not brought new products to market for more than a year, and Chinese consumers have sought cars elsewhere. Ford is expected to bring new products to China in the next few months, he said.

Ford was not immediately available for comment.

WATCH: Ford is using bionic suits to help employees work safer

Ford is using bionic suits to help employees work safer
6:24 PM ET Fri, 20 April 2018 | 02:20

Uber Wants To Deliver Groceries, But There Is A Much Bigger Opportunity

Uber has announced its intentions to expand into delivering groceries. Uber may choose to expand its already successful Uber Eats to be the service for grocery delivery or the company may choose to manage grocery delivery through another service. Photo: Getty Like Amazon, Uber is a company that thinks big. Uber and Amazon also share… Continue reading Uber Wants To Deliver Groceries, But There Is A Much Bigger Opportunity

Electrify America announces second $200-million EV infrastructure investment plan for California

Electrify America has a $2-billion pot of money from naughty Volkswagen to invest in EV infrastructure, education and access programs. $800 of that is to be spent in California. In order to future-proof the program, EA is wisely dividing its investment into four phases. Now the company has announced its second $200-million round of investment… Continue reading Electrify America announces second $200-million EV infrastructure investment plan for California

  Gill Pratt of Toyota: Safety Is No Argument for Robocars 10 Oct

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Toyota's Gill Pratt on Self-Driving Cars and the Reality of Full Autonomy

Going for Level 4 autonomy—where the car drives itself and you can go to sleep—is typically justified on the grounds that such cars will be very safe. And they had better be, or we’d never let them loose on the roads.

But the safety-first argument is flawed, says Gill Pratt, who heads up self-driving car research for Toyota. Reason: Safety can be obtained by other means.

“The reason for Level 4 being done—to save lives—is backwards thinking, even if you assume it’ll be 10 times safer,” he tells IEEE Spectrum. “That’s not the only way to save lives; there are multiple ways to do it.”

Pratt allows that there’s a purely economic argument for self-driving cars—remove the driver and you cut expenses in any commercial application, like taxi service and trucking. But that decides things only after self-driving tech can be proven far better than the best human driver. A system that’s just 10 percent better will win over statisticians and philosophers but not the general public.

This isn’t the first time Pratt has poured cold water on the idea that we’re on the verge of getting rid of the steering wheel and pedals, as GM Cruise plans to do in a pilot program next year. Read our Q&A with him from early last year. But nowadays, Pratt’s emphasizing how a system that is essentially Level 4 can be repurposed as a teammate to the driver, rather than a replacement.

Toyota is developing Level 4 systems, he said, but when they’re purposed to drive the car—and thus called Chauffeur—they need vastly more validation than has been done yet to be made into a generally useful product. Toyota doesn’t expect to hand a Level 4 Chauffeur to the public for years, though the company plans to demonstrate one during the 2020 Olympic Games, in Japan, within a relatively limited environment.

But what Pratt calls the “technological equivalent to Level 4” is coming much faster. It’s called Guardian, and he says it’s a lot better than today’s advanced driver assistance systems (ADAS), which offer lane keeping, active cruise control, and emergency braking. “We think Guardian features will trickle into production vehicles soon,” he says.

Here’s how it looks in practice:

Guardian uses a diversity of sensors and maps which, though they might be a little out of date, at least tell the system the most likely environment it’s in and the location of the car in that environment. A prediction system figures out how the environment around the car is likely to evolve, and then a planner works out the car’s trajectory and other behaviors.

“It asks if there’s an unprotected left-hand turn or a highway merge coming up,” he says. “When the system’s functioning as Guardian, it’s there to warn or nudge the driver, and if things are really bad, to take over temporarily.”

We already have a Level 2 system—the Super Cruise function, which is available in the Cadillac CT6. As Lawrence Ulrich reported in April, it’s the current self-driving champion of production cars. But to make sure that the driver doesn’t get lulled into dangerous complacency, the car uses cameras to observe the driver’s eyes and body posture and to jostle him or her back to situational awareness if necessary.

But Pratt suggests that approach reflects backward thinking, too.

“We’ve known since the 1940s that the better the autonomy, the more you tend to overtrust the system,” Pratt says. “That’s why Super Cruise has a monitor that watches you. In Guardian, we’ve flipped the whole nature of who guards whom: We have the person drive.”

UPDATE 2-Sweden’s Northvolt lands BMW deal in boost before fund raising

STOCKHOLM (Reuters) – Sweden’s Northvolt has secured a partnership with German carmaker BMW (BMWG.DE) and is seeking more funds from the European Investment Bank (EIB) to help its plans to build Europe’s largest battery factory. The BMW logo is seen on the second press day of the Paris auto show, in Paris, France, October 3,… Continue reading UPDATE 2-Sweden’s Northvolt lands BMW deal in boost before fund raising