February 12, 2019 Indonesian car marketplace BeliMobilGue.co.id has closed a $10-million Series A round led by parent company Frontier Car Group, with participation from new and existing investors, including Jardines-owned PT Toyota Tunas Indonesia. The investment comes a year after the company’s previous funding round and will help it further expand into key Indonesian cities,… Continue reading Indonesian used car startup BeliMobilGue.co.id bags $10m Series A
Tag: Strategy
Ex-Nissan CEO Carlos Ghosn says he is victim of ‘plot and treason’ – The Straits Times
TOKYO • Carlos Ghosn, the embattled auto executive indicted on charges of financial wrongdoing, has said he was the victim of “plot and treason” by other Nissan leaders who wanted to thwart his plans to bring the automaker closer to its alliance partners, Renault of France and Mitsubishi Motors of Japan. In an interview with… Continue reading Ex-Nissan CEO Carlos Ghosn says he is victim of ‘plot and treason’ – The Straits Times
Tesla’s electric vehicle dominance is about to have ‘serious competition,’ Morgan Stanley says
Former Tesla CEO on electric vehicle growth
2:44 PM ET Thu, 7 Feb 2019 | 04:06
Tesla's domination of the electric vehicle market is “unsustainable” and will soon be disrupted by start-up Rivian, Morgan Stanley analyst Adam Jonas said Monday.
Jonas, whose thoughts on electric autos are widely followed on Wall Street, expects Rivian will be “the next serious competition from a 'clean sheet' start-up with access to talent & capital focused on the fastest growing segments of pickup trucks & SUVs.” He estimates that Tesla makes about 80 percent of the U.S. EV market, capturing as much as 90 percent of U.S. electric vehicle revenues.
Rivian, based outside Detroit, previewed its R1T electric truck prototype at the Los Angeles Auto Show in November. Rivian said the R1T will deliver 400 miles of range, with four individual motors allowing for all-wheel-drive. Additionally, Rivian CEO R.C. Scaringe said the R1T will be able to hit 60 mph in 3 seconds and tow up to 11,000 pounds.
Bloomberg | Bloomberg | Getty Images
RJ Scaringe, founder and chief executive officer of Rivian Automotive Inc., unveils the R1T electric pickup truck, left, and R1S electric sports utility vehicle (SUV) during a reveal event at AutoMobility LA ahead of the Los Angeles Auto Show in Los Angeles, California.
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.”
Rivian is also building the R1S, an electric seven-passenger SUV. Rivian says the R1S will also have a range of over 400 miles.
Jonas said Morgan Stanley has a “strong belief that all-electric vehicle architecture will need a truly 'clean sheet' approach” to take on Tesla, rather than “adapting existing legacy [original equipment manufacturer] architecture.”
“We believe companies like Rivian will take elevated importance in investors' minds as EVs become the focus of OEM investment and strategy,” Jonas said.
– CNBC correspondent Paul Eisenstein and CNBC's
Michael Bloom
contributed to this report.
Continental Signs Strategic Cooperation Agreement with the University of Debrecen
Continental provides practical training valuable in the labour market and subsequent job opportunities for graduate students With its educational, research and other related professional activities Continental supports the University of Debrecen to create value together in the region The agreement was signed on the behalf of the University of Debrecen by Dr. Zoltán Szilvássy, Rector,… Continue reading Continental Signs Strategic Cooperation Agreement with the University of Debrecen
Goodyear Reports Fourth Quarter, Full-Year 2018 Results
AKRON, Ohio, Feb. 8, 2019 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) today reported results for the fourth quarter and full-year of 2018. “Our teams delivered several operational wins in 2018, including increasing our consumer replacement volume and building our OE pipeline by securing numerous fitments, notably on future electric vehicles,” said Richard J.… Continue reading Goodyear Reports Fourth Quarter, Full-Year 2018 Results
Volvo Cars courts investors to raise cash for Polestar
The company is also ditching the industry’s traditional route to market via dealers. STOCKHOLM: Volvo Cars is talking to Chinese and U.S. tech investors as the company seeks external finance for its Polestar performance electric car brand, the Swedish company’s chief said on Thursday. Carmakers are seeking partnerships to cut the cost of building new… Continue reading Volvo Cars courts investors to raise cash for Polestar
Volkswagen Financial Services acquires Fleet Logistics
Volkswagen Financial Services (VWFS) has acquired a 60% stake in Fleet Logistics. In an exclusive interview with Fleet Europe, VWFS explains the deal, and what’s next. The acquisition, subject to approval by the relevant authorities, is the result of a strategic partnership between VWFS, a financial subsidiary of the Volkswagen Group, and TÜV Süd, the… Continue reading Volkswagen Financial Services acquires Fleet Logistics
No deal Brexit will force 3-weeks JLR plant shutdown in April, profitability to be hit: Tata Motors
JLR would also need to reassess its manufacturing and sourcing strategy. NEW DELHI: Tata Motors Thursday said in case of a “no deal Brexit” JLR will have two to three weeks of plants shutdown in the UK, while its British arm’s profitability will be adversely impacted in the long term. As part of its preparations… Continue reading No deal Brexit will force 3-weeks JLR plant shutdown in April, profitability to be hit: Tata Motors
GM electric vehicles could be profitable early next decade, says CEO
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Cadillac electric crossover SUV based on GM BEV3 modular platform
Incentives, credits, and compliance schemes can only get the electric vehicle market so far. The real test of its success will be when large, established automakers can get to a point when they can call them profitable.
On Wednesday, on a call with analysts to discuss the company’s fourth-quarter 2018 financial results, GM CEO Mary Barra said that’s a distinction could come in the early 2020s.
DON'T MISS: GM to launch two new electric vehicles within 18 months, 20 by 2023
While Barra deflected a question about GM’s potential electric-pickup project, she pointed to GM’s battery-development partnership with Honda and its strong position in China. “So I think we’re in a good position, driving our cell costs down,” she said.
Cadillac electric crossover SUV based on GM BEV3 modular platform
Although other vehicles are still due to take advantage of the platform used for the Chevrolet Bolt EV, the first profitable electric vehicle from GM may have a Cadillac badge. GM revealed earlier this year that, with a vehicle to launch around 2022, Cadillac will be the “vanguard” brand for a completely new electric-vehicle architecture termed BEV3.
CHECK OUT: GM, Honda partner on next-generation electric-car batteries
In 2017, Barra called GM’s pivot toward EVs, autonomous-vehicle tech, and changing ideas about mobility “the biggest business opportunity since the creation of the internet.” At that time, Barra’s comments signaled a goal of profitability by 2021.
The company, which reported positive financial results for 2018 and for the most recent quarter, announced a massive restructuring in November, affecting thousands of manufacturing related cuts and five assembly plants at least temporarily shut down. It this week confirmed that 4,000 white-collar jobs are affected by this.
READ MORE: GM promises it can make money on all-electric cars by 2021
Barra reiterated yesterday that GM believes in an all-EV future, and noted that the company is being repositioned “from one that was trying to be all things to all people in all markets to a very strategic, agile, and profitable company.”
“We are intent on reinventing personal transportation, capitalizing on a trillion-dollar opportunity, while making the world safer, better, and more sustainable,” said Barra.
Operation Digital: New hope for cancer patients
The M²OLIE research campus has a clear goal: applying artificial intelligence and modern robotics to revolutionize treatment for cancer patients with multiple metastases. Specialists at the Mannheim campus are seeking to making life-saving treatment as widely available as possible. The Porsche Consulting management consultancy is a partner of the project, and its experts are supporting… Continue reading Operation Digital: New hope for cancer patients