Tag: Autonomous

Supervisory Board of Daimler AG extends contract with Britta Seeger

STUTTGART, Germany, Feb. 13, 2019 /PRNewswire/ — Extension of the contract for five years until December 31, 2024 Manfred Bischoff, Chairman of the Supervisory Board of Daimler AG: “We are very happy to continue working with Britta Seeger. She is leading Marketing and Sales of Mercedes-Benz Cars with great success. In the past year, Mercedes-Benz… Continue reading Supervisory Board of Daimler AG extends contract with Britta Seeger

Exclusive: VW, Ford far apart on investment in Ford autonomous unit – sources

(Reuters) – Volkswagen AG and Ford Motor Co have been unable to reach agreement on whether or how much the German automaker will invest in Ford’s self-driving vehicle unit, people familiar with the negotiations said. FILE PHOTO: The President and CEO of Ford Motor Company Jim Hackett, poses with Volkswagen CEO Herbert Diess at the… Continue reading Exclusive: VW, Ford far apart on investment in Ford autonomous unit – sources

Autonomous truck startup TuSimple hits unicorn status in latest round

Another autonomous-vehicle unicorn has joined the herd. TuSimple, a self-driving truck startup running daily routes for customers in Arizona, has raised $95 million in a Series D funding round led by Sina Corp. as the company prepares to scale up its commercial autonomous fleet to more than 50 trucks by June. The startup, which launched in… Continue reading Autonomous truck startup TuSimple hits unicorn status in latest round

Electric Cars: Paris Unlocks 700 Million for “Airbus Batteries”

Starting signal. This time, the Airbus battery is on track. In the wheel of Germany, France has concretized its support for the creation of a European industry for the design and manufacture of batteries for electric vehicles. The French government will mobilize 700 million euros in five years, while his counterpart in Germany has promised… Continue reading Electric Cars: Paris Unlocks 700 Million for “Airbus Batteries”

President Macron to unveil plan to give Europe’s electric battery industry a jolt

PARIS (Reuters) – France will invest 700 million euros ($790 million) over the next five years into projects to boost the European electric car battery industry and reduce its carmakers’ reliance on dominant Asian rivals, said French presidency officials. The new battery of the Renault electric car Z.E. is displayed on media day at the… Continue reading President Macron to unveil plan to give Europe’s electric battery industry a jolt

Ford executive raises doubts about VW deal for electric vehicles

Bill Pugliano | Getty Images
Jim Farley, Ford Motor Company Executive Vice President and President of Global Markets, reveals the 2020 Ford Mustang Shelby GT 500 at the 2019 North American International Auto Show during Media preview days on January 14, 2019 in Detroit, Michigan.

Ford and Volkswagen appear increasingly unlikely to pull together a deal to work together on battery-electric vehicles, a senior executive with the Detroit automaker said this week.

The two companies announced plans last month to team up on the development of light commercial vehicles and confirmed that other projects were under consideration. It has been widely reported that a key focus was on battery-electric vehicles, a move that could help Ford and VW save billions of dollars by sharing R&D efforts.

But their programs are out of sync, “almost like snowboarding and skiing,” Jim Farley, Ford's president of global markets, said Monday during a taping of the local TV show “Autoline Detroit.”

Automakers around the world have begun looking for ways to partner with erstwhile rivals in order to address an increasingly challenging environment. Many of these alliances focus on the development of new technologies, such as electrification and autonomous driving, areas in which Ford and Volkswagen aim to take a lead.

But the two carmakers are taking markedly different approaches with their electrification programs, said Stephanie Brinley, principal auto analyst with IHS Markit and a participant in the “Autoline” panel discussion.

“They have two very different strategies,” Brinley said, and the “timing issues that just won't mesh.”

America is falling back in love with trucks and SUVs, and that's causing big changes at big car companies
10:38 AM ET Tue, 5 Feb 2019 | 04:45

VW has committed over $50 billion to develop more than 50 pure battery-electric vehicles by 2025. They would be sold through the German automaker's dozen passenger car brands, including Porsche and Audi, as well as the flagship Volkswagen marque.

But the majority of the products will target mainstream markets using a high-volume vehicle platform known as the MEB. “This is meant to be a car for the millions, not millionaires,” Matthew Renna, vice president of e-Mobility for Volkswagen's North American Region, said during a media briefing last week at the Chicago Auto Show.

Ford was itself an early proponent of electrification but initially focused on hybrids, plug-in hybrids and relatively short-range battery-electric vehicles. It now plans to introduce its first long-range model in 2020, and then expand its lineup over the course of the coming decade.

While VW is primarily targeting low-cost, passenger car segments with its battery-car program, “Ford's bet is on commercial vehicles and performance vehicles,” said Farley.

There is still the possibility they could eventually find common ground, “if we could find platforms where it makes sense,” said Farley, but, at least for now, “we're in different timing.”

VW declined to comment about Farley's remarks.

Morgan Stanley: Why GM and Amazon may be investing in ‘the next Tesla’

Bloomberg | Bloomberg | Getty Images
A person places items into the front trunk cargo area of the Rivian Automotive Inc R1T electric pickup truck during a demonstration at a reveal event at AutoMobility LA ahead of the Los Angeles Auto Show.

General Motors and Amazon are reportedly in talks to invest in Detroit startup Rivian Automotive and that indicates a massive shift in the “next and potentially imminent” electric vehicle market of pickup trucks, Morgan Stanley said on Wednesday.

“The highly lucrative and US-dominated pickup truck market” is “an important area of investor focus” due to the “culmination of battery cost reduction, architecture, duty cycle, and price point,” Morgan Stanley analyst Adam Jonas said. Jonas earned a wide following on Wall Street due to his early calls on Tesla and the rise of electric vehicles.

Morgan Stanley featured Rivian earlier this week as the “next serious competition” for Tesla. The startup's “clean sheet” approach could make it “the next Tesla,” Jonas said.

“We have focused considerable research effort on the theme of electric pickup trucks in recent days,” Jonas said. Rivian emerged as the firm's top pick to challenge Tesla in the coming years, due to Rivian's “access to talent & capital focused on the fastest growing segments of pickup trucks & SUVs,” he said.

America is falling back in love with trucks and SUVs, and that's causing big changes at big car companies
10:38 AM ET Tue, 5 Feb 2019 | 04:45

Rivian previewed its R1T electric truck prototype in November. Rivian CEO R.C. Scaringe said the R1T will deliver 400 miles of range, with four individual motors allowing for all-wheel-drive. The R1T will be able to hit 60 miles per hour in 3 seconds and tow up to 11,000 pounds. Rivian is also building the R1S, an electric seven-passenger SUV. Rivian says the R1S will also have a range of over 400 miles.

Bloomberg | Bloomberg | Getty Images
RJ Scaringe, founder and chief executive officer of Rivian Automotive, speaks after unveiling the R1S electric sports utility vehicle (SUV).

The Amazon and GM deal would value Rivian between $1 billion and $2 billion, according to Reuters on Tuesday.

Morgan Stanley believes Amazon's involvement represents the e-commerce giant seizing the opportunity to use its own technology “to shape electric delivery vehicles to support its own logistics efforts,” the firm said.

“Amazon has spent the last few years building out and expanding its logistics network and recently invested in autonomous driving startup Aurora,” Jonas said.

As for GM's involvement, Morgan Stanley pointed to comments from GM CEO Mary Barra on electric pickup trucks. Barra said GM believes “in an all-EV future,” while GMC VP Duncan Aldred said an electric pickup truck is “certainly” an opportunity the company is considering.

In full, Morgan Stanley is very bullish on the future of electric pickup trucks.

“EV powertrains have yet to be applied to the most profitable segments where established US automakers generate profit and cash flow,” Jonas said. “We estimate the full sized pickup truck segment accounts for well over 100% of global auto profit for GM and Ford and the majority of [Fiat Chrysler]'s global profit.”

T esla's pickup truck plans

Tesla may unveil an electric pickup truck this summer, CEO Elon Musk said during the company's fourth-quarter conference call. In December, Musk talked extensively on Twitter about what he would like to include in a pickup truck design, including all-wheel drive with “crazy torque & a suspension that dynamically adjusts for load.”

The buzz Jonas has seen about Tesla's pickup truck “suggests there may be greater excitement around the” pickup than for Tesla's anticipated Model Y. Based on the luxury Model X SUV, the Model Y is an “entry-level” crossover that would be comparable in price to Tesla's Model 3.

Elon Musk plans a truck he says looks like something out of 'Blade Runner'
3:05 PM ET Fri, 2 Nov 2018 | 01:11

US autonomous truck startup TuSimple raises $95m led by China’s Sina

February 13, 2019 US self-driving truck startup TuSimple said it has raised $95 million in a funding round led by Chinese internet giant Sina Corp, which values the three-year-old firm at $1 billion. The fresh funds, investors of which also include Hong Kong-based investment firm Composite Capital, will be used to expand its commercial fleet… Continue reading US autonomous truck startup TuSimple raises $95m led by China’s Sina

U.S. autonomous truck startup TuSimple raises $95 mln from Sina, others

SHANGHAI (Reuters) – U.S. self-driving truck startup TuSimple said it has raised $95 million in a funding round led by Chinese internet giant Sina Corp, which values the three-year-old firm at $1 billion. The fresh funds, investors of which also include Hong Kong-based investment firm Composite Capital, will be used to expand its commercial fleet… Continue reading U.S. autonomous truck startup TuSimple raises $95 mln from Sina, others