Amazon leads $700M round in electric automaker Rivian

Rivian, the electric automaker that debut its first two vehicles just three months ago, has raised $700 million in a round led by Amazon. The news follows a report earlier this week by Reuters that GM and Amazon were in talks to invest in the electric vehicle company. “We’re inspired by Rivian’s vision for the… Continue reading Amazon leads $700M round in electric automaker Rivian

AAM Reports Fourth Quarter and Full Year 2018 Financial Results

DETROIT, Feb. 15, 2019 /PRNewswire/ — American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE: AXL) today reported its financial results for the fourth quarter and full year 2018 and confirmed its full year 2019 financial outlook. Fourth Quarter 2018 Results Sales of $1.69 billion Net loss attributable to AAM of $361.8 million, or (21.4)% of sales, which… Continue reading AAM Reports Fourth Quarter and Full Year 2018 Financial Results

Press Releases – European and Chinese auto makers commit to working more closely together

Brussels, 15 February 2019 – The major European and Chinese automobile manufacturers pledged to strengthen their collaboration at a summit held in Brussels today, where their associations – the European Automobile Manufacturers’ Association (ACEA) and the Chinese Association of Automobile Manufacturers (CAAM) – signed a cooperation agreement. Together, China and the EU – the world’s… Continue reading Press Releases – European and Chinese auto makers commit to working more closely together

eBay completes acquisition of Motors.co.uk from Cox Automotive

eBay has completed the acquisition of Cox Automotive’s Motors.co.uk online used car classified business following approval from the Competition and Markets Authority (CMA) earlier this week. A statement issued by eBay today (February 15) revealed that the Motors.co.uk team had joined Gumtree UK, an eBay Classifieds business, as part of a merger which will –… Continue reading eBay completes acquisition of Motors.co.uk from Cox Automotive

GM’s Cruise division likely won’t IPO anytime soon – Business Insider

It wasn’t really news, but it was some hard numbers. This week, General Motors filed its annual 10-K report with the Securities and Exchange Commission and detailed a new compensation package for Dan Ammann, the automaker’s former president who last year took over as CEO of Cruise, GM’s self-driving car division. “On February 4, 2019,… Continue reading GM’s Cruise division likely won’t IPO anytime soon – Business Insider

Driving Performance on land and on water: Stronger and lighter

14.

February 2019

Affalterbach/Miami

combined fuel consumption: 11.3 l/100 km; combined CO2 emissions: 257 g/km*Affalterbach/Miami. Today Mercedes-AMG and Cigarette Racing presented the “41’ AMG Carbon Edition” at the Miami International Boat Show. As the eleventh jointly developed boat in this longstanding partnership, this special edition sets new standards in terms of performance, handling and versatility. Its systematic lightweight construction and design are inspired by the current Mercedes-AMG GT 63 S 4-door Coupé (combined fuel consumption: 11.3 l/100 km; combined CO2 emissions: 257 g/km).
The stated figures were determined in accordance with the prescribed measuring method. These are the “NEDC CO2 figures” according to Art. 2 No. 1 Implementing Regulation (EU) 2017/1153. The fuel consumption figures were calculated based on these figures. Further information on the vehicles on offer, including the WLTP values, can be found for each country at www.mercedes-benz.com
Robust, lightweight carbon-fibre components are installed in the 41’ AMG Carbon Edition and the boat features an optimized centre of gravity for ideal handling. “For twelve years we have been exploring the limits of performance on land and at sea with Cigarette Racing. Inspired by the incredible new Mercedes-AMG GT 63 S 4-door Coupé, the 41’ AMG Carbon Edition impresses with its extremely high performance and its expressive design”, says Tobias Moers, Chairman of Mercedes-AMG GmbH.
To achieve dynamic performance coupled with versatility, the Cigarette Racing team engineers followed a single design aim in their development work: weight reduction. Compared to the GT R Performance boat of 2017, the engineers were able to save around 250 kilograms of weight thanks to an optimised mixture of lightweight materials which includes carbon-fibre. The hull of the 41-foot (12.5-metre) long vessel uses innovative sandwich construction with carbon-fibre structural laminates on both sides of a lightweight core. This allows a more rigid structure of considerably reduced weight. Furthermore, the deck, rudder, roof lining and hardtop of the 41’ AMG Carbon Edition are also made of carbon-fibre. This lightweight construction also ensured it was possible to lower the boat's centre of gravity, improving the handling during high speed manoeuvres.
High performance on water
The 41’ AMG Carbon Edition is powered by four Mercury Racing 400R outboard engines. Together they generate 1177 kW (1,600 hp), giving the boat a top speed of 142 km/h. These are extraordinary performance figures in this boat class, which combines the user-friendliness of outboard engines with a spacious interior. It also allows larger passenger groups to be accommodated in luxurious surroundings. For example, the 41’ AMG Carbon Edition is able to carry eight passengers at maximum speed or up to 20 passengers at cruising speed. Thanks to lightweight construction and power, the 41’ AMG Carbon Edition offers an attractive combination of performance, excellent handling and versatility, attributes it shares with the Mercedes-AMG GT 63 S 4-door Coupé.
The design of the 41’ AMG Carbon Edition
“The new Cigarette Racing boat underlines the current brand aesthetics of Mercedes-AMG, which makes the passion for aesthetics and power noticeable. The strong brand graphics becomes the symbol of this experience”, says Gorden Wagener,
Chief Design Officer Daimler AG. “Thus, the Performance Luxury by Mercedes-AMG can also be experienced at sea.”
The striking design of the boat is the result of close collaboration between the Cigarette Racing Team and Mercedes-Benz designers, who developed the paint finish and the graphic design of the hull. The hull is painted in designo graphite grey magno, a finish developed exclusively for the Mercedes-AMG GT 4-door Coupé. The hallmark graphic design derives its special appeal from the contrast between matte and high-gloss areas interacting with bright red.
These central design features are continued in the interior of the boat, where they create an unmistakable Mercedes-AMG interior. For example, the tailored seat upholstery is colour-coordinated with the exterior and seam patterns exclusively designed for this special edition. Additionally, the interior features innovative “Cigarette Cool” upholstery which is able to reflect up to 30 percent of the absorbed heat. This technology made a darker colour choice possible in the interior, while retaining a comfortable and luxurious atmosphere. The cockpit is equipped with three multifunctional 17-inch full-HD Garmin displays with touchscreens. The displays show GPS coordinates, navigation charts and engine/operating data. They can also be used to control the onboard ambient lighting.
The land-based role model: the Mercedes-AMG GT 4-door Coupé
The land-based role model for the Cigarette Racing 41’ AMG Carbon Edition is the Mercedes-AMG GT 4-door Coupé, which is also prominently displayed at the Miami International Boat Show. The Coupé is the third vehicle and the first four-door sports car to be developed entirely in-house by the performance brand. Technical highlights of the new Mercedes-AMG GT 4-door Coupé include active rear-wheel steering for great agility and stability, an electronically extendable rear spoiler for optimum downforce at different speeds, an electronic rear axle with limited slip differential and a specially adapted AMG Ride Control sport suspension based on Air Body Control.
The Mercedes-AMG GT 63 is powered by a hand-built AMG 4.0-litre V8 biturbo engine developing 424 kW (577 hp) and 800 Nm of peak torque; the Mercedes-AMG GT 63 S develops 463 kW (630 hp) and a peak torque of 900 Nm. This addition to the AMG GT family opens the segment up to customers seeking a vehicle which offers the impressive Driving Performance of the two-door AMG GT sports car combined with day-to-day suitability and ample space for four passengers.
Cooperation between Mercedes-AMG and Cigarette Racing
Mercedes-AMG and Cigarette Racing have worked together since 2007, above all with joint customer and marketing activities. Whether on water or on land, Mercedes-AMG and Cigarette Racing share similar DNA. Both companies have their roots in racing, and both are inspired by the same values. This makes them ideal partners who are jointly redefining the limits of design and performance. These 38 (11.6 m) to 60-foot (15.2 m) long motor boats by the American specialist are among the world's fastest and most exclusive racing boats. Customers receive tailor-made, hand-finished quality that has been tested under extreme conditions – both by Mercedes-AMG and by Cigarette Racing.

Press Contact

Stefanie Lüssenheide

Lifestyle and Brand Communications

stefanie.luessenheide@daimler.com

Tel: +49 (0) 711 17 77369

Fax: +49 (0)711 17 79093799

Birgit Zaiser

Manager Communications Mercedes-AMG

birgit.zaiser@daimler.com

Tel: +49 7144 302-581

Fax: –

Lars Zeppenfeld

Manager Communications Design

lars.zeppenfeld@daimler.com

Tel: +49 (0)711 17-75834

Fax: +49 (0)711 17-91437

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CORRECTED-GM unveils ‘Ariv’ e-bikes, plans Europe launch in second quarter

The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio (Reuters) – General Motors Co announced on Thursday that its brand of electric bicycles would be called “Ariv” and begin selling in Europe in the second quarter of 2019. Two such bicycles, a compact… Continue reading CORRECTED-GM unveils ‘Ariv’ e-bikes, plans Europe launch in second quarter

Morgan Stanley: An electric pickup from Tesla or Rivian is a ‘serious problem’ for Detroit

With competition heating up, is Tesla losing its dominance?
15 Hours Ago | 09:06

The auto industry's electric vehicle revolution has only just begun, Morgan Stanley told investors in a note on Thursday, and the highly profitable pickup truck market is next.

“An electric pickup truck successfully launched by a new player (i.e. Rivian or Tesla) could be a serious problem for the Detroit based [traditional automakers],” Morgan Stanley analyst Adam Jonas said in a note to investors. Jonas is widely known on Wall Street for being one of the first to recognize the significance of Tesla and electric vehicles to the auto industry.

Jonas called reports that General Motors and Amazon are in talks to invest in Rivian, if true, “the biggest news in US autos so far this year.” Without such investments, he said, GM and Ford are losing the opportunity for a “first mover advantage” in producing all electric pickup trucks. Jonas also says Rivian has a competitive advantage from building its truck from the ground up, with little prior conception of an internal combustion engine truck to cloud its view.

“Both GM and Ford have the technical capability to develop and produce and all electric pickup … but we believe design, software, electrical architecture, and brand may be best coming from the 'outside,'” Jonas said.

Additionally, Morgan Stanley said “investors may find it surprising that nearly 9 years after Tesla's IPO there are only 2 pure play EV manufacturer stocks trading publicly in the US market.” The other electric vehicle company that Jonas is referring to is Nio, a Chinese company that listed shares on the New York Stock Exchange in September.

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.”

Phillip Faraone | Getty Images Entertainment | Getty Images
Rivian CEO RJ Scaringe attends and speaks at Rivian unveiling of R1T All-Electric Truck.

Rivian showed off prototypes of its R1T electric truck and its seven-passenger R1S sport utility vehicle in November. Rivian CEO R.J. Scaringe said the R1T and R1S will deliver 400 miles of range, with four individual motors allowing for all-wheel-drive. The R1T will be able to hit 60 miles per hour in 3 seconds and tow up to 11,000 pounds.

Morgan Stanley had already featured Rivian twice this week: once as “the next serious competition for Tesla” and again when reports of Amazon and GM's investment surfaced. If GM does invest, Jonas said, it would be “another sign of GM's prescient strategic vision.”

“From an industrial strategy perspective, while many other [traditional automakers] are playing checkers, GM seems to be playing chess,” Jonas said.

Finally, even without the possible investment, Morgan Stanley believes Rivian represents one of the top challengers to Tesla's dominance in the global electric vehicle market.

“The increased legitimacy and capitalization of new/startup EV firms, like Rivian, pose a compounding competitive threat to Tesla. All else equal, a potential GM-Amazon-Rivian tie up could be a clear negative for Tesla in our view,” Jonas said.