Financial Results – Page 8796 – I wish I had more to offer

Ferrari plans 15 new models, SUV to deliver earnings growth

MARANELLO, Italy (Reuters) – Ferrari (RACE.MI) plans 15 new models, including hybrids, a utility vehicle and special editions in its drive to hit a softened but still exacting mid-term earnings target. The Italian supercar maker on Tuesday shifted to an adjusted core earnings forecast range of 1.8-2.0 billion euros ($2.1-2.3 billion) by 2022, rather than… Continue reading Ferrari plans 15 new models, SUV to deliver earnings growth

Lyft has now delivered 1 billion rides

Lyft has delivered its 1 billionth ride, the company announced Tuesday, a milestone that represents Lyft’s continued growth.

Honda: No-deal Brexit ‘would cost millions’

The senior vice president of Honda Europe has warned that a no-deal Brexit would cost his company tens of millions of pounds. Ian Howells told the BBC that quitting the bloc without an agreement would affect the carmaker’s competitiveness in Europe. He said the Japanese firm was preparing for a no-deal outcome but had not… Continue reading Honda: No-deal Brexit ‘would cost millions’

New 3S dealer outlet in Puchong, Selangor

Petaling Jaya, 14 September 2018 – Atiara Johan Sdn Bhd has officially launched its new 3S dealer outlet here today. The event was officiated by Dr Li Chunrong, Chief Executive Officer of PROTON, in the presence of PROTON’s senior management members.
New 3S dealer outlet in Puchong, Selangor
The new outlet by Atiara Johan Sdn Bhd replaces a 1S showroom, previously operating in Pandan Indah, Kuala Lumpur, and performing sales activities only. In order to serve its customers better, the management of the company decided to upgrade its facilities to 3S centre at a new vicinity. Located in Puchong, the new outlet was developed on an empty plot of land and cost approximately RM 3.5 million to build, with a built up area of 1,700 square metres. Situated in a busy commercial area beside the town’s main road alongside other car marques, it’s estimated that sales will increase by 60% while servicing will be a new revenue stream for the outlet.
“We took the opportunity to upgrade to a 3S centre ..

Tesla Model 3 Red Multi-Coat Paint Now Costs $2,500

Red Model 3 are now more costly than before.

As Tesla heads for what could very well be a turning point in its history and its journey towards becoming a mainstream American carmaker, the company opted to adjust the price of the Red Multi-coat color option for the Model 3. With the most recent price adjustment, the Model 3’s Red Multi-coat option now costs $2,500.

As noted in an Electrek report, Tesla appears to have adjusted the price for Red Multi-coat for all of its vehicles, which include the Model S sedan and the Model X SUV. The price changes come not long after the company announced that it would be removing two color choices — Obsidian Black and Silver Metallic — from the Model 3’s paint options. Tesla CEO Elon Musk explained the decision in a tweet, stating that it was done to optimize the paint processing, thereby further improving the company’s production rates for the electric car.

The price of the Red Multi-coat color option has steadily risen since the Model 3 started production. Initially starting at $1,000, the price was eventually hiked up to $1,500, before it was raised once more to $2,000. The most recent adjustment stands as a 25 percent increase in price from the paint option’s previous cost.

Elon Musk has been particularly fond of the Model 3’s Red Multi-coat option. In a tweet earlier this month, Musk noted that he “loves” the shade considering that the company worked incredibly hard to make the red “look 3D without floating a special red tint in primary gloss layer.” Musk, however, stated that the company has to stop the whole paint shop whenever they are about to paint red cars. In true Elon Musk fashion, the CEO noted that whenever Tesla paints Red Multi-coat Model 3s, the whole paint shop ends up looking like an episode of Dexter.

Tesla is currently attempting to produce and deliver as many Model 3 as it can to reservation holders before the end of September, which stands at the end of the third quarter. Earlier this year, Elon Musk issued a bold declaration on Twitter when he announced that Tesla would be profitable by the third or fourth quarter of the year. Since then, the company has been in overdrive in its attempt to manufacture the Model 3 at scale.

With this in mind, it appears that recent price adjustments, such as the AWD Dual Motor upgrade for the Model 3 being priced $6,000 and Red multi-coat paint now costing $2,500, are Tesla’s way of increasing its chances of ending Q3 2018 on a strong note.

Ferrari investors want assurance on targets and SUV plans

MILAN (Reuters) – Ferrari’s (RACE.MI) new boss has his work cut out on Tuesday to convince investors that the supercar maker can hit mid-term targets he described last month as “aspirational”. FILE PHOTO: The new Ferrari 488 Pista during a presentation at the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 6, 2018.… Continue reading Ferrari investors want assurance on targets and SUV plans

Mahindra Group To Go Carbon Neutral by 2040 Focus on Energy Efficiency and Renewable Power

California Sept 14, 2018: Mahindra & Mahindra (M&M), India’s leading manufacturer of utility vehicles and part of the USD 20.7 billion Mahindra Group, today announced its commitment to become a carbon neutral company by 2040. Mahindra will focus on energy efficiency and the use of renewable power to achieve this target. Residual emissions will be addressed through carbon sinks.

Anand Mahindra, Chairman, Mahindra Group and co-chair of the Global Climate Action Summit currently under way in San Francisco committed that his entire group of businesses would become carbon neutral.

This is significant because earlier Mr Mahindra had pledged that only its flagship company – Mahindra & Mahindra – would become carbon neutral by 2040. However, after listening to leaders speak at the Summit, he upped the ante on his commitment by extending that pledge to the entire group.

“We are doing our part in the global fight against climate change with this ambitious new target. Mahindra will leverage the latest technological advances and its recently announced Carbon Price to work towards being carbon neutral by 2040.”

M&M was the first company in the world to commit to doubling energy productivity by signing on to The Climate Group’s program EP100. Using energy efficient lighting, efficient heating, ventilation, and air conditioning (HVAC), motors and heat recovery projects, Mahindra & Mahindra has doubled the energy productivity of the automotive business almost 12 years ahead of schedule. The farm equipment business is also ahead of schedule in achieving its goal and is more than half-way there.

The company was also the first Indian company to announce its internal Carbon Price of $10 per ton of carbon emitted to fund investments required to pursue the path of carbon neutrality. The price was carefully arrived at on the basis of international benchmarks and an assessment of what was required to achieve the goals set by the business on energy efficiency and renewable energy.

The company has more than 10 years of experience in creating carbon sinks. It looks forward to using this experience to deal with residual emissions in a manner that is world class and follows the best established protocols.

M&M will be working on its carbon neutrality commitment with the international non-profit organization Environmental Defense Fund (EDF), which works with leading companies to raise the bar for corporate sustainability leadership. It will continue to work with EDF and other leading partners as it implements actions towards achieving carbon neutrality.

M&M is also a signatory of the Science based targets initiative which provides companies with a clear pathway for reducing emissions in line with the Paris Agreement’s goal of limiting global warming to well below 2°C above pre-industrial levels. All these commitments are helping the company on its path to go carbon neutral.

About Mahindra

The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,400,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

Media contact information:

Shubhada Dharwadkar
Group Communications
Mahindra & Mahindra Ltd.
Tel:+91-22-24901441
Dharwadkar.shubhada@mahindra.com

BMW Group and Swiss Re develop ground-breaking car insurance concept

Munich. The BMW Group and Swiss Re, one of the world’s largest reinsurance companies, are working together to develop a vehicle-specific insurance rating that primary insurers worldwide can use to calculate car insurance premiums: The innovative assessment system takes integration of safety-relevant driver assistance systems into account. The automotive sector is in a period of… Continue reading BMW Group and Swiss Re develop ground-breaking car insurance concept

Baidu sets its sights on taking A.I. and self-driving cars outside China

Online search provider Baidu — referred to as the Google of China — has been expanding aggressively into cutting edge technology such as artificial intelligence and autonomous vehicles.

The Chines tech titan is one of the largest internet companies in the world with a strong user base, thanks in no small part to China's massive population of 1.4 billion people.

About 70 percent of China's internet searches go through Baidu. The Chinese-language search platform is one of the most visited websites in the world, with its traffic surpassed only by Google, YouTube and Facebook, according to Alexa Internet, which measures web data and analytics.

Most of Baidu's revenue comes from online advertising. While its primary business is its search engine, it also offers maps, images, videos and news platforms to users. It's also a majority stakeholder in iQiyi, widely referred to as the Netflix of China.

But like other Chinese internet firms, Baidu is subject to Beijing's strict online censorship laws. The government has fined companies, including Baidu, for failing to properly censor content on its platforms.

Baidu is also investing heavily into its autonomous vehicle projects and has formed partnerships with the likes of Microsoft and Intel, and carmakers BMW, Ford and Daimler.

Leading the charge in China's push for driverless technology, Baidu has already developed and produced more than 100 self-driving buses. The autonomous vehicles will soon be deployed to the streets of Beijing and Shenzhen, and are due to enter Japan's self-driving market in early 2019.

The company has set its sights on markets outside China. It's next move would be to take its AI and self-driving technology to foreign markets, bringing it one step closer to becoming a global tech titan.

End of the road: Volkswagen to stop making Beetles

Volkswagen will the halt the production of Beetles in 2019, marking the end of the road for one of the world’s most beloved cars. The German company will introduce two special editions of the vehicle before it stops making the model altogether in July. Volkswagen is sidelining the Beetle, renowned for its distinctive curved shape… Continue reading End of the road: Volkswagen to stop making Beetles