Mobility – Page 5743 – I wish I had more to offer

Ball Corporation (BLL) Arm to Manufacture LIDAR Cameras Now

Ball Aerospace, a unit of Ball Corporation (BLL – Free Report) , has signed an exclusive license agreement to manufacture the Geiger-mode avalanche photodiode (GmAPD) light-detection and ranging (LIDAR) cameras for defense and aerospace industries. The license provides the sole ownership to Ball Corporation to make these cameras after Argo AI. Pittsburgh, PA-based Argo AI… Continue reading Ball Corporation (BLL) Arm to Manufacture LIDAR Cameras Now

Ford’s shares lag as CEO Hackett provides scant details of turnaround plan

Rebecca Cook | Reuters
Ford Motor Company president and CEO James Hackett

It's one of the biggest unknowns in the auto industry: How will Ford CEO Jim Hackett restructure the beleaguered automaker?

More than a year after becoming CEO, and two months after he said it will cost at least $11 billion to restructure Ford, Hackett has yet to give Wall Street details about his turnaround plan. The longer Hackett goes without unveiling his plan, the lower Ford shares slide. The stock is under $10, down almost 26 percent so far this year and close to a nine-year low.

“We just don't see much to get excited about in terms of the stock,” said Brian Johnson, auto analyst at Barclays.

Johnson, like others on Wall Street, expects Hackett to dramatically downsize the company as part of a plan to cut costs and exit businesses and markets where Ford is either losing money or struggling to grow profits.

South America and Europe are two regions Ford could eliminate or dramatically cut operations, according to analysts. Morgan Stanley's Adam Jonas gave a sobering assessment of Ford's business in South America. “In our opinion, it is very difficult to see Ford continuing operations on a profitable basis in the region,” he wrote in a note to clients in late August.

Jonas was even more blunt in assessing of Ford's operations in North America. “We estimate roughly one quarter of the region's physical and human capital is within businesses that have no path to positive ROIC (return on invested capital),” said Jonas.

What also worries analysts is the lack of details surrounding Ford's plan to capitalize on hefty investments in autonomous-drive vehicles and mobility solutions. At this year's Consumer Electronics Show, Hackett and his leadership team outlined their vision for the future of transportation.

“We're working on a new self-driving business model. It's a systems-based approach, transporting both people and goods,” said Jim Farley, president of global markets at Ford.

It sounds intriguing, but analysts wonder how much it will cost to develop these self-driving vehicles and how Ford will make money off of those mobility services.

Adding to investors' concerns is whether Ford will be forced to cut its dividend to preserve cash. The company has been adamant the dividend will remain in place. With $25 billion in cash, liquidity is not an immediate concern.

Still, this turnaround will be tough. In late August, Moody's downgraded Ford's credit rating to one notch above junk status saying, “Success could be challenged by having to address the serious performance problems in multiple business units simultaneously.”

When the plan will be revealed remains unclear.

“The real question is, is there more going on behind the scenes and under the surface than is apparent in the quarterly earnings,” said Johnson. “I think the bull case, such as there is on Ford, is that Mr. Hackett is driving deep, fundamental, cultural change in the company.”

— CNBC's Meghan Reeder contributed to this article.

Questions? Comments? BehindTheWheel@cnbc.com.

Lyft Commits to Full Carbon Neutrality and 100% Renewable Energy

Earlier this year we announced our Green Cities Initiative, a new business unit dedicating significant resources to tackling climate change. As Lyft continues to grow, we have an increasing responsibility to commit additional resources towards our values in order to maximize the positive impact of the Lyft platform. Our first step was to create a… Continue reading Lyft Commits to Full Carbon Neutrality and 100% Renewable Energy

Pay-with-your-face systems and self-driving cars: Inside Baidu’s headquarters in Beijing

Pay-with-your-face systems and self-driving cars: Inside Baidu's headquarters in Beijing

A trip to Baidu's headquarters may offer a glimpse into the future of payments, building security and driving.

Baidu is often referred to as the “Google of China” because the tech titan commands roughly 70 percent of China's internet searches. Like Alphabet in the U.S., the Chinese company is also working on a host of other technologies.

CNBC recently visited its headquarters in Beijing, which is home to around 20,000 of its 40,000-person workforce. Similar to companies in Silicon Valley, Baidu has multiple buildings spread across a sprawling campus boasting amenities from yoga classes to rock climbing walls.

Employees now have the option of registering their faces, which they can use to get through security checkpoints and even pay for things like lunch or items at vending machines.

Uptin Saiidi | CNBC
An employee pays with his face at Baidu's cafeterira in Beijing, China

Meanwhile, a small park on its campus is used to try out autonomous vehicles. During CNBC's visit, staff tested a combination of vehicles, including passenger cars, 14-passenger buses and logistics vehicles that could eventually deliver packages.

This week, Baidu announced it will work with BYD — China's leading electric car maker, which is backed by Warren Buffett — to reach mass production of autonomous cars within three years.

Baidu has already produced more than 100 autonomous buses and has plans to sell to foreign markets, including Japan, which is set to receive 10 in early 2019.

Baidu has partnered with companies including Microsoft, BMW, Ford and Intel as part of its autonomous driving project.

Baidu, BYD partner to bring mass production of self-driving cars
4:16 AM ET Thu, 6 Sept 2018 | 02:31

Aston Martin St Athan confirmed as ‘Home of Electrification’

Published: Sep 10, 2018

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by
Neil Allison

Aston Martin announced today that its second major UK manufacturing facility will become the brand’s centre for electrification and the production home of the Lagonda brand, the world’s first zero-emission luxury marque.

11 September 2018, Gaydon, UK: Aston Martin announced today that its second major UK manufacturing facility will become the brand’s centre for electrification and the production home of the Lagonda brand, the world’s first zero-emission luxury marque.
St Athan has also been named as the home of Lagonda production. As the world’s first luxury marque exclusively driven by zero emission powertrain technologies, Lagonda heralds the beginning of a new range of luxury vehicles that will commence production in 2021. The ‘Lagonda Vision Concept’, revealed at the 2018 Geneva Motor Show hints at the bold design language that could be seen in future Lagonda products in as little as three years.
Dr Andy Palmer, Aston Martin President and Group Chief Executive Officer, said: “Aston Martin sees itself as a future leader in the development of zero emission technologies, and I am delighted that St Athan will be our ‘Home of Electrification’ for both the Aston Martin and Lagonda brands.
“The Rapide E will spearhead development of Aston Martin’s low- and zero-emission vehicle strategy. With the reintroduction of the Lagonda brand, this is a demonstration of how electrification features prominently in our business plan moving forward.”
International Trade Secretary Dr Liam Fox MP said: “I’m delighted that Aston Martin has chosen St Athan as its centre for electrification and the home of Lagonda production in a move that will create hundreds of high skilled jobs in the coming years. The UK has world leading expertise in manufacturing and developing low carbon vehicles and this investment is yet another vote of confidence in the our highly competitive automotive industry.
“My international economic department continues to work with investors to create jobs in all parts of the country, maintaining the UK’s position as Europe’s premier investment destination.”
First Minister, Carwyn Jones said “I am very proud of Aston Martin’s decision to locate its new manufacturing facility in St Athan. It shows a huge vote of confidence in the Welsh Government’s can-do attitude and in the package of support that we can offer to businesses that want to work with us.
“Today’s announcement that St Athan will also be the “Home of Electrification” for both Aston Martin and Lagonda is another huge win for Wales. It is a genuine testament to the reputation, dedication and skills of our workforce but also an excellent and very tangible example of how Welsh Government support can act as the catalyst for further economic growth and job creation.”
Aston Martin St Athan is now in the third and final phase of becoming a state-of-the-art vehicle assembly facility, in which production of the company’s first sports utility vehicle (SUV) is due to begin in late 2019. The project includes the conversion of three super hangars on the former Ministry of Defence site. The plant is a demonstration of Aston Martin’s continued commitment to the UK and an additional investment of £50million to make St Athan the home of electrification for the marque shows a clear vision on the future of Aston Martin in the UK. The new plant will bring up to 750 high skilled jobs to South Wales over the coming years, with more than 150 already recruited.

Bristol driverless car report challenges business models

The £5m VENTURER project has released its final report, detailing key research results that challenge developments by major global companies. The three-year project explored the barriers to the adoption of connected and autonomous vehicles (CAVs) in the UK and how best they could be overcome. “One of the first research and development projects to explore… Continue reading Bristol driverless car report challenges business models

Chipmaker Renesas goes deeper into autonomous vehicles with $6.7B acquisition

Japan-based semiconductor firm Renesas — one of the world’s largest supplier of chips for the automotive industry — is scooping up U.S. chip company IDT in a $6.7 billion deal that increases its focus on self-driving technology. Renesas produces microprocessor and circuits that power devices, and automotive is its core focus. It is second only to NXP… Continue reading Chipmaker Renesas goes deeper into autonomous vehicles with $6.7B acquisition

Electric scooters need a crucial rule change before the craze can spread to London

Bogdanhoda | iStock | Getty Images

As I ride my bike into work there are numerous obstacles to watch for. I treat buses, trucks and cars as if they are on fire while pedestrians and other cyclists offer plenty to worry about too.

In recent weeks, I have noticed a new player competing for space in the weekday “rat race” — the electric kick scooter.

My first sightings of grown adults using scooters raised a smile but also my curiosity as I marvelled at how fast they were zooming along.

Speed aside, their attraction to any commuter is clear. They are certainly less bulky than a bike and, assuming no rain, you can arrive at work unflustered with no need to change clothes. Despite being powered, you also need no license.

The cost is relatively attractive too with a quick internet search revealing decent looking models priced at around £450 ($581). That amount of money buys you less than three months on the London Underground.

So far, so good. But there is a catch, and it is quite a big one. In the U.K., the electric kick scooter is classified as a PLEV, or Personal Light Electric Vehicle, and that makes them illegal on British roads or pavements.

That means commuters who embrace this new method of urban travel remain at risk of possible arrest and a fine of up to £75. And while battery-powered scooters are spotted more and more on British streets, the U.K. Department for Transport has offered no hint that the law will change.

The e-scooter first enjoyed popularity in the United States, as employees based within a few miles of work looked to avoid heavy traffic and unreliable public transport. Several different firms have flooded U.S. streets and more, including a fleet run by Uber, are on the way.

Their introduction has caused anger over dangerous riding, as well as people dumping them inappropriately. After a wealth of start-ups filled the streets of San Francisco, local lawmakers issued a sudden ban before then issuing permits to just two companies.

Despite those anxieties, the boom in popularity has been exported to Europe and three scooter hire services were granted licences for Paris this summer. In Austria and Switzerland, electric scooters are encouraged to the point that laws allow them to go up to 25 kilometers per hour in a road or cycle lane.

Their popularity in crowded European cities has even led to a suggestion from automaker Volkswagen that it will introduce its own hire service in Berlin before long.

As Britain grapples with heavy traffic, struggling public transport, and illegal pollution, can the electric scooter really remain out of bounds to the law-abiding commuter?

Renesas in $6.7 billion deal for IDT to boost chips for self-driving cars

TOKYO (Reuters) – Japan’s Renesas Electronics Corp (6723.T) said it had agreed to buy Integrated Device Technology Inc (IDT) (IDTI.O) for $6.7 billion, its second major acquisition as it deepens its push into semiconductors for self-driving cars. Renesas Electronics Corp’s logo is seen on its product at the company’s conference in Tokyo, Japan, April 11,… Continue reading Renesas in $6.7 billion deal for IDT to boost chips for self-driving cars

The Volvo 360c concept is an office-bed-living room mashup to disrupt domestic air travel

Volvo unveiled Wednesday its vision for future travel. And it’s an electric autonomous vehicle without a steering wheel or other traditional means of control that would serve multiple purposes for its passengers, and ultimately disrupt the domestic air travel industry. The 360c concept is just a concept. Meaning, the vehicle shown Wednesday in Sweden won’t… Continue reading The Volvo 360c concept is an office-bed-living room mashup to disrupt domestic air travel