Monthly Archives: October 2024

Motorcycle Gang Members Charged with Violent Racketeering

Posted on 17 October 2024 by Ken Zino

This investigation was an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launders, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks. Continue reading →

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September 2024 Global Light Vehicle Sales Down Slightly

Posted on 16 October 2024 by Ken Zino

The Global Light Vehicle (LV) selling rate for September stood at 90 million annually, in line with August’s results, according to an analysis just released by the respected GlobalData consultancy.* Looked at year-over-year (YoY), market volumes are continuing to trend downwards as sales volumes were down ~ 4% versus September 2023. Furthermore, YTD sales are now only up fractionally compared to the same period last year.

“In September, sales were down across most regions. Sales in China fell 5% YoY, as the economy faces headwinds and despite the ongoing scrappage incentive. In the US sales fell YoY for the month, with this September having fewer selling days. Finally, sales in Western Europe remained underwhelming, as a weak economy and high vehicle prices dragged on LV market activity,” said the Global Light Vehicle Sales Forecasting Team. Continue reading →

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DOE Backs Utility-Scale Power Storage In Puerto Rico

Posted on 15 October 2024 by Ken Zino

The U.S. Department of Energy (DOE) through its Loan Programs Office (LPO) today announced the closing of a $861.3 million loan guarantee to finance the construction of two solar photovoltaic (PV) farms equipped with battery storage and two standalone battery energy storage systems (BESS) in Puerto Rico.

“The project is financed under Title 17 Clean Energy Financing Section 1706. Created by President Biden’s Inflation Reduction Act (IRA), EIR can finance projects that retool, repower, repurpose, or replace energy infrastructure that has ceased operations or enable operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or greenhouse gas emissions,” LPO said. Continue reading →

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Toyota to Invest in Joby Aviation EV Taxis!

Posted on 15 October 2024 by Ken Zino

In a quiet, overlooked announcement earlier this month, Toyota Motor Corporation (NYSE: TM) and Joby Aviation( NYSE: JOBY), a company developing electric air taxis for commercial passenger service, announced that Toyota will invest an additional $500 million to support the certification and commercial production of Joby’s electric air taxi.  The investment will be made in two equal tranches, with the first targeted to close later this year and the second during 2025. This is part of a trend of traditional automobile companies transitioning to mobility companies  on land, the seas, air or space.

“Today’s investment builds on nearly seven years of collaboration between our companies,” said JoeBen Bevirt, founder and CEO, Joby Aviation. “The knowledge and support shared by Toyota has been instrumental in Joby’s success and we look forward to deepening our relationship as we deliver on our shared vision for the future of air travel.” Continue reading →

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NISSAN ENERGY Charge Network Launches

Posted on 15 October 2024 by Ken Zino

Nissan announced today an “enhancement “to the MyNISSAN app that claims to simplify EV ownership by consolidating vehicle management and public charging into one app. Users store a default payment method in the MyNISSAN app, then once at a compatible charging station, simply tap an on-screen button to start a charging session within the NISSAN ENERGY Charge Network. This new app will be available to MyNISSAN app users by November 2024.

“Owning and charging a Nissan EV will become simpler and more seamless with the launch of the NISSAN ENERGY Charge Network. The new network allows Nissan Ariya and future Nissan EV drivers to use their MyNISSAN app to find charging stations, see real-time charger availability and pay for charging – all in one streamlined experience,” Nissan said in a release. Continue reading →

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September Western European Diesel Sales Continue to Drop

Posted on 14 October 2024 by Ken Zino

An analysis released today by the respected GlobalData consultancy* shows that the diesel share of new car sales in Western Europe during September 2024 fell to 11.9% with August confirmed at 13.8%.

“The MoM difference appears significant, and the trend remains negative, but the September figure is influenced by the large UK total market, and the lower-than-regional-average share that diesel occupies within it. This effect typically drags down the European result in September, though in 2023 it was offset by distortions in the German market caused by withdrawal of a key BEV incentive that increased the non-BEV share, including diesel,” GlobalData said. Continue reading →

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GM Recalls Blazer, Equinox Models for Sudden Door Openings

Posted on 14 October 2024 by Ken Zino

General Motors is recalling Mexican-built 2025 Chevrolet Blazer, Blazer EV, and Equinox vehicles because the door strikers were not properly heat-treated, which can cause them to break, according to the required filing made public by the National Highway Traffic Safety Administration this morning. This is an extension of a previous recall. Continue reading →

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Aston Martin Reveals DB12 Goldfinger Edition

Posted on 14 October 2024 by Ken Zino

“The relationship between Aston Martin and the James Bond franchise is something that is always treasured”, said Marco Mattiacci, Global Chief Brand and Commercial Officer. “It is an incredible occasion to be able to recognize six decades of this partnership with an extraordinary special edition, and pay homage to the very first – and perhaps most famous Aston Martin Bond car. Incorporating these subtle but impactful touches, developed by our own ‘Q’ department has created a very unique offering; one that will be adored by Bond fans across the world. Continue reading →

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Porsche Sales Weak Through Q3 2024

Posted on 11 October 2024 by Ken Zino

Porsche AG today posted sales declines for the first nine months of the year. Overall global sales at 226,026 dropped -7%. China sales at 43,280 plunged -29%. “This reflects poor economy in the Chinese market” that is affecting all makers. Worse, there is now an outright trade war over tariffs between the EU and China. North American sales at 61,471 dropped -5%. In Europe (excluding Germany), Porsche delivered 52,465 vehicles in the first nine months, an increase of 1% compared to the same period last year. In the home market of Germany, the number of vehicles delivered rose by 8 % as 26,838 units were delivered to customers.

“Customer demand remains at a robust level and the feedback from our customers on the new models is very good. As product availability increases, we are optimistic about the final spurt for 2024,” claimed Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG. Continue reading →

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Man vs Autonomous Machine Race Coming to Suzuka

Posted on 10 October 2024 by Ken Zino

The Abu Dhabi Autonomous Racing League (A2RL)* said today that a “Man vs Machine Showdown” is coming to the Suzuka Circuit in Japan next month. The exhibition race will be the first time Japanese spectators  can see a head-to-head race between human drivers and AI technology. It will take place on the Super Formula double-header season finale on November 9-10.

“In partnership with Japan Race Promotion, A2RL’s ‘Man vs Machine’ challenge will pit two Super Formula race cars against each other in a head-to-head competition. One car will be piloted by former F1 driver Daniil Kvyat, A2RL’s development driver, while the other will be entirely controlled by advanced autonomous algorithms and robotics, showcasing cutting-edge technology,” A2RL said. Continue reading →

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Life Saving Seat Belt Reminders Improving

Posted on 10 October 2024 by Ken Zino

Automakers have moved quickly to install louder, more persistent seat belt reminders, the  Insurance Institute for Highway Safety said today. IIHS began rating the devices in 2022. The first year, only 17% of the new models tested earned a good rating; 65% were rated marginal or poor. However, 62% of the 2024 models tested so far are rated good. Only 24% are rated marginal or poor.

“The math is pretty simple,” said David Kidd, the IIHS senior research scientist who led that research as well as the development of the seat belt reminder rating program. “We found that an audible reminder that lasts at least 90 seconds increased belt use by around 30%. That means we could save almost 1,600 lives a year if every vehicle on the road was equipped with a good-rated system.” Continue reading →

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Off The Grid! – New GM Energy PowerBank

Posted on 10 October 2024 by Ken Zino

GM Energy said today that it is launching the so-called GM Energy PowerBank, a stationary storage product that allows EV owners the ability to store and transfer energy from the grid. It also has the option of integrating with solar power equipment. The General Motors* subsidiary has also expanded access to energy management products across all 50 states. It’s the latest step whereby EV customers can gain increasing independence from utility companies and the unreliable, climate change vulnerable power grid. It’s also the latest move that shows fossil-fueled stock analysts  – many of them reflexively negative on GM – are headed for extinction. Continue reading →

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First Glance – Volkswagen Tiguan Update via Tayron

Posted on 9 October 2024 by Ken Zino

“The new Tayron is a bonafide Volkswagen: its quality is reflected in every detail; it is comfortable and practical for everyday life, and it is available with a wide range of drive systems. With this new Volkswagen SUV, we are further expanding our range in a growing segment and closing the gap between our best-seller, the Tiguan, and our luxury SUV, the Touareg. I am convinced that the Tayron will make its mark and be well received by our customers,”said Thomas Schäfer, CEO of Volkswagen Passenger Cars. Continue reading →

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Sticky Steering Recall for 1.7 Million Honda and Acuras

Posted on 9 October 2024 by Ken Zino

American Honda Motor Co is recalling ~1.7 million 2023-2025 Acura Integra, Civic Type R, CR-V Hybrid, CR-V, HR-V, 2022-2025 Civic, Civic Hatchback, 2024-2025 Acura Integra Type S, 2025 CR-V Fuel Cell EV, Civic Hybrid, and Civic Hatchback Hybrid vehicles, the National Highway Traffic Safety Administration revealed today.

“Due to an improperly produced steering gearbox worm wheel, the wheel can swell during use, reducing the grease film thickness between the worm wheel and worm gear. In addition, the worm gear spring preload was set improperly high, increasing the sliding force between the components. As a result of the reduced grease film thickness and increased sliding force, friction between the worm wheel and worm gear increases,” Honda said in the required NHTSA filing. Continue reading →

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Deputy CEO Björn Annwall Leaves Volvo Cars

Posted on 9 October 2024 by Ken Zino

Volvo Cars (VOLCAR-B.ST)* today announced organizational changes that it said, “are designed to increase simplicity, speed and collaboration and reduce complexity by flattening our structure in the Commercial part of the business.” It is enhancing the responsibilities of the regions and empowering the employees that are closest to the customers to make key decisions. In a surprising move, Björn Annwall, current Chief Commercial Officer & Deputy CEO will support the transition of the new organization before taking his next step “outside of Volvo Cars.” The stock is currently trading at an all-time low.

“In a rapidly changing world, we need to ensure our organization is equipped to navigate a more challenging market. We are now regrouping our commercial leadership team with a focus on making Volvo Cars even stronger with increased speed and efficiency,” said Jim Rowan, CEO at Volvo Cars. Continue reading →

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