M and A – Page 9344 – I wish I had more to offer

Hanon Systems Inaugurates New Chongqing Site in China

CHONGQING, China, May 23, 2019 /PRNewswire/ — Global automotive supplier Hanon Systems (KS:018880) is today announcing the formal opening of Chongqing Hanon Jianshe Automotive Thermal Systems Co., Ltd. Establishment of this joint venture was announced by the company in October 2017, and involves a direct partnership with Chongqing Jianshe Motorcycle Co. Ltd. and Chongqing Jianshe… Continue reading Hanon Systems Inaugurates New Chongqing Site in China

Extensive Premium Mobility Offer for Europe: Audi relies on Multi-Channel Strategy

The company with the four rings is expanding its flexible premium mobility business in Europe considerably and is positioning the umbrella brand Audi on demand on multiple pillars. Customers in ten countries will thus be able to access around 10,000 Audi models and book them flexibly starting in fourth quarter. At the same time, the… Continue reading Extensive Premium Mobility Offer for Europe: Audi relies on Multi-Channel Strategy

Nissan board nominees not broaching merger issue: member

YOKOHAMA (Reuters) – Nissan Motor Co is not considering the possibility of a merger with top shareholder Renault at the moment, and none of the nominees to the Japanese automaker’s board are pressing to make it an issue now, an external director said on Thursday. FILE PHOTO: A Nissan logo is pictured during the media… Continue reading Nissan board nominees not broaching merger issue: member

Uber to open third Latin America support center in Bogota

A screen displays the company logo for Uber Technologies Inc. on the day of it’s IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid BOGOTA (Reuters) – Ride-hailing app Uber will spend $40 million over five years to open its third support center in Latin America in… Continue reading Uber to open third Latin America support center in Bogota

Don’t expect Apple or Amazon to buy Tesla, Morgan Stanley analyst warns investors

Elon MuskMike Blake | ReutersIn an invitation-only call with institutional clients of Morgan Stanley on Wednesday, research analyst Adam Jonas — a long-time Tesla bull — expressed skepticism about the electric vehicle maker and said not to count on a buyer like Apple to bail the company out.
“Tesla is not really seen as a growth story,” Jonas said on the call, which CNBC heard in a recording. Today, “It seems like a distressed credit and restructuring story.”
Some details of the call were previously reported by Business Insider.
Jonas spent some time on the call responding to the hope that a big tech company like Apple or Amazon might buy Tesla. in a CNBC interview on Tuesday, analyst Craig Irwin of Roth Capital Partners rekindled the rumor that Apple once made a bid for Tesla.
But Jonas poured cold water on the notion of a big tech acquisition today.
He explained, “For risk mitigation and liability containment, they may not want to expose themselves to the unlimited liability of being involved in owning a business where occasionally a car catches on fire, takes down a building, or accidentally kills a pedestrian or passenger, things that happen. The auto industry has an ugly side to it. The roads are very dangerous. There's a lot of stored energy in a vehicle. And the regulatory environment [around autonomous cars] has not had time to cure yet.”
Jonas acknowledged that Apple has interest in transportation (as do Amazon and other big tech firms). But Morgan Stanley's tech researchers, he said, don't expect Apple to have a service or related hardware devoted entirely to transportation until the 2030s.
He added, “Perhaps those big tech firms don't want to expose themselves to that up front. And moreover they realize the autonomous race is more of a marathon where over a 10- or 20-year period you collect real world miles. There may be other ways to do that besides owning a full-stack, awesome, great auto company.”
SpaceX to the rescue?Apart from shooting down the idea of a white knight, Jonas also expressed skepticism about the company's current state.
“In late 2018, demand was exceeding supply, cash flow was strong, there was a ton of excitement around the Model Y,” Jonas said. “Today — supply exceeds demand, they are burning cash, nobody cares about the Model Y.”
Finally, Jonas told investors that, given the precedent of Tesla's acquisition of SolarCity, there's a possibility Musk could use his 54% stake in SpaceX, a company that has a post-money valuation of $31.5 billion, to eventually collateralize Tesla.
“There's a precedent for Elon Musk to think across his portfolio of companies,” he said.
Jonas said near-term, Wall Street is expecting Tesla to deliver just 70,000 vehicles in the second quarter of 2019. While he and Morgan Stanley have a more optimistic estimate of 82,000 vehicles, that still falls short of Tesla guidance. The company said it would deliver 90,000 cars this quarter, and wrote in a first-quarter shareholder letter:
“Although we are driving towards higher internal goals, we reaffirm our prior guidance of 360,000 to 400,000 vehicle deliveries in 2019, representing an increase of approximately 45% to 65% compared to 2018.”
Tesla and Morgan Stanley did not immediately respond to requests for comment on the call.
Morgan Stanley was a lead underwriter in Tesla's $2.7 billion offering of stock and convertible notes, which closed earlier this month. The week of the offering, Morgan Stanley said it saw the funding as a 12-month bridge to help the company gain a foothold in China.
Tesla's stock is down 15% since last Thursday, and dropped 6% on Wednesday to under $193. The slide began last week after an e-mail surfaced in which Tesla CEO Elon Musk urged employees to cut spending and told them he would personally oversee outgoing expenses.
That news was followed by a bad Consumer Reports review of Tesla's new Autopilot Navigate feature in its Model 3 electric sedans. The stock may also be reacting to ongoing trade tensions between the US and China, as Tesla has staked its future on building and selling its cars there.
WATCH: Morgan Stanley says Tesla could hit $10 if this happens
VIDEO6:1906:19Tesla could hit $10 if this happensFast Money

Tesla Successful In Buying Maxwell Technologies

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Published on May 16th, 2019 |

by Maarten Vinkhuyzen

Tesla Successful In Buying Maxwell Technologies

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May 16th, 2019 by Maarten Vinkhuyzen

The news of the day is that Tesla bought around 79% of Maxwell’s shares on May the 15th, 2019, after the acquisition offer was extended twice. The original proposal was from February 4th, 2019, and was discussed well by our authors in “Tesla Inks Deal To Acquire Maxwell Technologies In Stock Deal” and “The Ultracapacitors, Electrodes, & Battery Manufacturing Tech Tesla Gets With Maxwell Technologies.”

To make it clear that this is a 100% merger, the stock not offered is converted to a right to get Tesla shares and cash on the same conditions as the shares offered and accepted in the acquisition. They are not shares any more — they are essentially IOUs.

It is a short but very important announcement. Now let’s look a bit more closely at what Tesla bought.

Maxwell Technologies.
Maxwell Technology was a company specialized in high-quality supercapacitors. A supercapacitor is a kind of electricity storage device that can charge and discharge very fast and many thousands of times without any wear and tear. But the density of energy is very low, making supercapacitors unusable as permanent storage. It has been speculated, though, that use of supercapacitors could enable better storage and reuse of braking energy, making EV’s better track cars.

Perhaps, but that is not what made Maxwell a target for Tesla. Maxwell developed a way to improve battery production. The company’s own estimate was that, in time, Maxwell could grow to a many-billion-dollar company, multiplying their stock value at least tenfold and perhaps a hundredfold. If only they could bring the patents to production. An excellent description of the technology is in an article by Randy Carlson, “Tesla and Maxwell: Assessing the deal.”

To become so valuable, you need customers for your batteries and/or other battery companies willing to use your technology for a fee. Alas, only Tesla was a little bit interested. Tesla and Panasonic can likely realize the billions in saving on battery production that Maxwell predicted. Others?

This would give Tesla, currently having already the lowest cost batteries, an unassailable advantage over the competition for the coming years. The questions are how fast this can be incorporated into the Panasonic processes at GF1, and how big the savings will really be.

For the time being, Maxwell will continue with its business all over the world. Too many employees and customers and contracts to do anything else.

What the future will bring we can only guess. I would not be surprised if the capacitor business gets a management buyout after the battery technology is transferred to Tesla.

About the Author

Maarten Vinkhuyzen Grumpy old man. The best thing I did with my life was raising two kids. Only finished primary education, but when you don’t go to school, you have lots of time to read. I switched from accounting to software development and ended my career as system integrator and architect. My 2007 boss got two electric Lotus Elise cars to show policymakers the future direction of energy and transportation. And I have been looking to replace my diesel cars with electric vehicles ever since.

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Via Announces Expansion to Alexandria, Virginia

Published May 22, 2019 1:59 pm, Via NYC
Via Announces Expansion to Alexandria, Virginia
The shared ride provider continues to widen its reach in the Greater Washington DC area

May 22, 2019 (Alexandria, VA) — Via, the leading provider and developer of on-demand shared transit, is excited to announce the extension of its DC service to Alexandria, Virginia.

Via first launched in Washington DC in August 2016, and the service has since grown to cover the entire District as well as Arlington, VA, and now, Alexandria. With the shutdown of several Alexandria Metro stations beginning May 25th, Via’s timely expansion will provide an affordable, convenient, and reliable transportation option for thousands of commuters.

“We are pleased to extend our service to Alexandria, helping to extend public transit access during these station closures,” said Alex Lavoie, US General Manager of Via. “Via aims to provide the entire greater DC area with an affordable, congestion-reducing method of transportation that complements existing transit infrastructure.”

The expansion into Alexandria extends Via’s service zone by 33% and creates an affordable and convenient shared transportation solution for more than 140,000 commuters traveling to, from, and within Alexandria.

How it works:

Using the Via app, passengers select their pick up and drop off location and confirm their ride. Via’s smart algorithm enables multiple riders to seamlessly share a single vehicle. The powerful technology directs passengers to a nearby corner – a virtual bus stop – for pick up and drop off,

allowing for quick and efficient shared trips without lengthy detours that take riders out of their way.

This enables Via’s system to transport a high volume of passengers while using a fraction of the number of vehicles utilized by taxis or on-demand car services. By grouping multiple passengers into a single shared vehicle, Via reduces congestion and emissions, providing an inexpensive, eco-friendly, and convenient transportation alternative.

Via’s world-renowned dynamic ride-pooling technology, developed initially for New York City, has powered more than 70 deployments in more than 15 countries, many in partnership with cities and public transport operators. In DC, Via recently announced a partnership with The Department of Public Works (DPW) to provide District government employees with a new ride sharing service, and a micro transit service with Transco and the Department of For Hire Vehicles.

About Via:

Via is re-engineering public transit, from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. Via’s mobile app connects multiple passengers who are headed the same way, allowing riders to seamlessly share a premium vehicle. First launched in New York City in September 2013, the Via platform currently operates in the United States, and in Europe through its joint venture with Mercedes-Benz Vans, ViaVan. Via’s technology is also deployed worldwide through partner projects with public transportation agencies, private transit operators, taxi fleets, private companies, and universities, seamlessly integrating with public transit infrastructure to provide the most cutting edge on-demand mobility innovation.

Ford Sollers will maintain dealership network in all Russian regions

MOSCOW, May 22. / TASS /. Ford Sollers, a joint venture between the American car manufacturer Ford and the Russian Sollers, announced that it would maintain dealership networks in all Russian regions, the company said in a statement on Wednesday.
“At the moment, more than 100 dealership centers, which is 85% of the total, have confirmed their intention to continue working with the Ford brand. We're continuing to accept applications, and the company plans to extend dealer contracts with 99% of the network,” said Ford Sollers said in a statement.
They added that maintaining the dealership network is a priority for the company. “More than half of Ford Sollers dealers will be engaged in both selling and servicing Ford Transit, and repairing and servicing Ford cars, the rest – solely maintenance and repair,” the press service said.
As previously reported, the new joint venture Ford Sollers, will be created at the existing Ford Sollers Yelabuga plant, and will begin operation starting o..

BEEP AND NAVYA CONDUCT AUTONOMOUS SHUTTLE FIRST RESPONDER TRAINING IN ORLANDO

22 May 2019 BEEP AND NAVYA CONDUCT AUTONOMOUS SHUTTLE FIRST RESPONDER TRAINING IN ORLANDO Mobility Solutions Company Launches Program in Partnership with Shuttle Manufacturer NAVYA to Train Emergency Personnel on State-of-the-Art Autonomous Vehicles Set to Be Deployed in Lake Nona ORLANDO, May 22, 2019 ‐‐ Beep, a Florida-based autonomous mobility solutions company, today announced it… Continue reading BEEP AND NAVYA CONDUCT AUTONOMOUS SHUTTLE FIRST RESPONDER TRAINING IN ORLANDO

Nascar revs up with $2bn acquisition of Daytona track owner

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