PARIS (Reuters) – Renault said it had scrapped 30 million euros ($34 million) in deferred and severance pay to former boss Carlos Ghosn, forced out last month following his arrest for suspected financial misconduct at Japanese affiliate Nissan. FILE PHOTO: A street monitor showing a news report about arrest of Nissan Chairman Carlos Ghosn is… Continue reading Renault scraps Ghosn’s 30 million euro parachute with government backing
Tag: Strategy
Blockchain: Developing standards for universal application in the mobility sector.
Munich. From 14 – 15 February, members of the consortium co-founded by the BMW Group will be meeting with representatives of well-known technology companies from around the world, plus blockchain start-ups and specialists, at the BMW Group IT Centre in Munich. As well as serving as a platform for sharing knowledge and experience, the two-day… Continue reading Blockchain: Developing standards for universal application in the mobility sector.
BMW Group global sales increase in January
Munich. The BMW Group has started 2019 with a positive sales result: global deliveries of the company’s three premium automotive brands increased by 0.5% in January, with a total of 170,463 BMW, MINI and Rolls-Royce cars delivered to customers. This is the company’s strongest-ever start to a year, achieved despite the current headwinds affecting the… Continue reading BMW Group global sales increase in January
Electric car production racing ahead of car buyers’ desires – The Irish Times
Car makers could be looking down the barrel of massive oversupply of electric vehicles in the market. According to a new report from Deloitte, a “significant expectation gap” is growing between the production ramp-up of electric vehicles by the world’s major car makers, and the actual serious sales prospects for those vehicles. The report says… Continue reading Electric car production racing ahead of car buyers’ desires – The Irish Times
Images: Mobileye Management
Professor Shai Shalev-Shwartz (left), vice president of technology at Mobileye, an Intel Company, and Professor Amnon Shashua, senior vice president at Intel Corporation and president and CEO of Mobileye. Mobileye, an Intel company, is the leader in assisted driving and a pioneer in the use of computer vision technology to save lives on the road.… Continue reading Images: Mobileye Management
Amazon, GM in talks to invest in electric pickup truck maker Rivian -sources
(Reuters) – Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday. FILE PHOTO: The logo of Amazon is seen at the company… Continue reading Amazon, GM in talks to invest in electric pickup truck maker Rivian -sources
Lyft Brings on Former Uber Executive as Vice President of Finance Strategy
2019 is off to a great start as we continue to bring top talent into the Lyft family. The newest addition to Lyft’s leadership team is Michelle DeBella who joins as our Vice President of Finance Strategy. Michelle is a dynamic and results-oriented finance executive with more than 20 years of experience. She was mostly… Continue reading Lyft Brings on Former Uber Executive as Vice President of Finance Strategy
Rumor: GM electric pickup could come from Tesla
2019 GMC Sierra
Last month, the president of General Motors' GMC truck division said the brand was considering building an electric pickup.
Now, according to a CleanTechnica report, that pickup could come from Tesla.
Even the CleanTechnica reporter says to file this in the category of an enticing rumor, rather than fact, because there are no pictures, and a single, anonymous source inside GM. Still, he reports confidence in the source and says the person has been reliable about other findings.
DON'T MISS: GMC could join electric-pickup tailgate party
Tesla's own CEO Elon Musk has been talking for years about building a Tesla pickup. In his most recent interviews about the Tesla truck, he has described it as “a really futuristic-like cyberpunk, Blade Runner pickup truck,” and said that it will have a massive towing capacity of 300,000 pounds and be made with lots of expensive titanium.
Musk has even alluded to a second, more attainable and mainstream pickup. Now it looks possible that latter pickup could come from GM. GM CEO Mary Barra has announced that the company plans to convert to an all-electric lineup, and is revamping the automaker's electric strategy with a move to make Cadillac its primary electric-car division.
CleanTechnica reports that the General Motors pickup—either a GMC or a Chevrolet Silverado—could get its entire powertrain from Tesla, including batteries and motors. That would hardly be an unprecedented step, after GM leaned on supplier LG to develop most of the powertrain for the Chevrolet Bolt EV.
It wouldn't be the first time a company has leaned on Tesla for powertrain components either—Toyota with the 2012-2014 RAV4 EV, for instance.
MUST READ: Rivian R1T all-electric pickup revealed: 400-mile range, 160-kw DC fast charging
GM regularly partners with other automakers to provide specialized engineering expertise or manufacturing.
The rest of the truck could would come from GM's practiced truck development team.
If such an agreement pans out, it could also be a way for GM to access Tesla's battery production from its Nevada Gigafactory, the largest producer of lithium-ion batteries in the world. Thus far, GM has bought batteries from South Korean supplier LG Chem.
CHECK OUT: Ford confirms future all-electric F-Series truck, holds details close
Pickups are the second-largest selling segment of the car market, and many electric-car buyers have been clamoring to be able to buy a pickup with battery power.
Last month, Ford said it is developing an electric version of its upcoming F-Series, along with a plug-in hybrid version.
The automakers seem to be racing startup electric-automaker Rivian, which got a glowing reception for its R1T electric pickup concept when it revealed the truck at the LA auto show last November.
It's not clear how seriously to take this report, but we'll be watching for any confirmation.
BeliMobilGue raises $10M for its used-car sales platform in Indonesia
BeliMobilGue, a used car sales platform in Indonesia, has fueled up with a $10 million Series round for the race to dominate the automotive market in Southeast Asia’s largest economy. The company was started in 2017 as a joint venture between Europe’s Frontier Car Group (FCG) and Intudo Ventures, a VC firm focused on Indonesia. BeliMobilGue said… Continue reading BeliMobilGue raises $10M for its used-car sales platform in Indonesia
Tesla’s charging stations are a massive ‘competitive moat,’ Morgan Stanley says
CNBC visits the only Telsa Supercharger station with a lounge
8:59 AM ET Sat, 27 Jan 2018 | 02:20
Tesla has built up a global network of charging stations, which Morgan Stanley analyst Adam Jonas pointed to as a possible “competitive moat” for the company compared to other electric vehicle makers.
“We estimate Tesla's chargers may account for 30 percent to 40 percent of total US charging outlets counted by the US Dept. of Energy,” Jonas said in a note to investors on Tuesday. Jonas is widely followed on Wall Street for his thoughts on Tesla and electric vehicles.
Tesla upped its network of global “supercharger” stations to nearly 13,000 by the end of last year, while also increasing its total “destination chargers” to more than 21,000. Superchargers refuel most Tesla batteries in about an hour, whereas destination charging stations provide longer charging times more suited for long stays at malls or overnights at hotels.
VCG/VCG | Getty Images
A Tesla supercharging station in Tianjin, China.
“Part of the strategic attraction to Tesla is its physical infrastructure footprint, which we believe, over time, can improve the customer experience, reduce friction points, and support the fleet management of many millions of Tesla vehicles on the road and in both captive and 3rd party commercial fleets,” Jonas said.
Morgan Stanley estimates Tesla will expand the supercharger network to 15,000 stations “by 2030 to support a Tesla on-the-road fleet size approaching 13 million units,” Jonas said.
Growth in Tesla's charging network “is far slower than the growth in Tesla's car population,” Jonas said he estimates. The network grew by about 40 percent year-over-year, he said, whereas the number of Tesla's on the road increased by 83 percent. Additionally, the Tesla fleet “has grown far faster than its physical store and service location network, raising investor concerns about strain on the system,” Jonas said.
“While Tesla has made efforts to address issues with service quality (such as increasing its Mobile Service fleet to 411 vehicles), the customer service experience appears to have significant room to improve,” Jonas added.
Tesla shares rose 1.3 percent in premarket trading from Monday's close of $312.84 a share. Morgan Stanley has an equal-weight rating on Tesla and a price target of $283 a share.
Watch: How taxpayers have boosted Elon Musk and Tesla
How taxpayers have boosted Elon Musk and Tesla
10:06 AM ET Mon, 22 Oct 2018 | 07:43