Category Archives: mobility company

Honda and IBM MoU on Software-Defined Vehicles

Posted on 16 May 2024 by Ken Zino

“The MOU outlines areas of potential joint research of specialized semiconductor technologies such as brain-inspired computing *[2 ] and chiplet technologies, with the aim to dramatically improve processing performance while, simultaneously, decreasing power consumption. Hardware and software co-optimization is important to ensure high performance and fast time to market. To achieve such benefits and manage design complexity for future SDVs, the two companies also plan to explore open and flexible software solutions,” Honda said in a release from Tokyo. Continue reading →

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Chinese Trade Wars – Leapmotor International Established

Posted on 15 May 2024 by Ken Zino

Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM) and Leapmotor (Zhejiang Leapmotor Technologies Ltd (9863.HK) yesterday announced that the two companies have received all required authorizations. The formation of Leapmotor International B.V., a 51%/49% Stellantis-led joint venture, is now complete. The notice was made as the US escalated its tariffs and sanctions against Chinese made EVs, batteries and other industrial products. Continue reading →

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Honda Post Record Operating Profit of $7B in FY 24

Posted on 10 May 2024 by Ken Zino

“In FY25, we will steadily proceed with dedicating resources towards electrification and aim to achieve operating profit of ¥1 trillion 420 billion and an operating profit margin of 7%, which is one year ahead of our original target,” said Toshiro Mibe, Director, President and Executive officer. He was the first Honda chief executive in history to attend the annual results conference. Normally, the finance staff conducts it with regional operating officers. Continue reading →

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Toyota Motor Posts Record FY24 Net Income of $39.1B

Posted on 10 May 2024 by Ken Zino

“We faced many challenges, including those posed by COVID-19 and production restrictions due to tight semiconductor supplies, but the results showed the efforts of each front-line employee, including those of our suppliers and dealers, each recognized what they needed to do and acted accordingly, and a management structure and profit structure that was built to be resilient to crises,” said Koji Sato, president. Continue reading →

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Annals of Marketing – Audi Electric Mountain Bike

Posted on 6 May 2024 by Ken Zino

Audi of America said this morning that it will increase its range of e-mobility products with the launch of a limited-edition enduro-style electric pedal assist mountain bike – dubbed eMTB – powered by Fantic. It becomes available through Audi Genuine Accessories by the summer of 2024. The Audi eMTB has livery said to be inspired by the design of Audi’s electrified Dakar Rally-winning RS Q e-tron race car. Audi eMTB at ~$9795 comes from a deal with Italian motorcycle and e-bike manufacturer Fantic based upon its XEF 1.9 Factory enduro e-bike. Continue reading →

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Penske Automotive Group 2024 Q1 Earnings Drop

Posted on 1 May 2024 by Ken Zino

“Our retail automotive service and parts revenue grew 9% to a quarterly record of $746 million. During the quarter, we experienced a recovery across our used vehicle retail automotive operations with profitability improving sequentially by $428 per unit retailed. Further, I was pleased with our focus on controlling costs as selling, general, and administrative expenses as a percentage of gross profit improved by 30 basis points sequentially to 70.7%,” said Roger Penske Chair and CEO. Continue reading →

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Stellantis Q1 Revenues, Shipments Drop – Transition or Trend?

Posted on 30 April 2024 by Ken Zino

Stellantis reiterated a minimum commitment of double-digit Adjusted operating income (AOI) margin in 2024, as well as positive Industrial free cash flow, despite macroeconomic uncertainties. Stellantis claimed that it is on track to deliver total capital returns in 2024 more than €7.7 billion, for an 11% yield as a percentage of Stellantis market capitalization on 1 January 2024. It is likely that its value will go down in the short term. The company, in AutoInformed’s view is in a transition that requires the balancing of market share, product cost, revenue and development of new offerings. It is not alone among automakers. Continue reading →

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Badass UAW Bargaining Committee Gets Record Daimler Deal

Posted on 27 April 2024 by Ken Zino

“Tonight, I’m in Charlotte, North Carolina, and I am honored to be joined by the badass bargaining committee representing over 7000 members at Daimler Truck North America,” Fain said. “We’re here tonight to announce a major victory for the members who build Freightliner and Western Star trucks and Thomas Built buses. Today, we reached a tentative agreement with Daimler. What started thirty-two years ago this month at the Mt. Holly plant, when the courageous 17-day strikers stood up and won a historic, first of its kind agreement, has come full circle. Continue reading →

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Ford Motor Posts Q1 2024 Net Income of $1.3 Billion

Posted on 25 April 2024 by Ken Zino

Ford Motor (NYSE: F) late yesterday posted weak 2024 Q1 operating results of $42.8 billion in revenue (+1.3B YoY), net income of $1.3 billion (-1.1%), and adjusted EBIT of $2.8 billion (-6%) as global sales dropped 11,000 vehicles to 1,045,000. Ford nonetheless declared a second-quarter regular dividend of 15 cents per share, payable 3 June to shareholders of record at the close of business on 8 May 2024. Continue reading →

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GM Posts $3 Billion in Q1 Earnings. Raises 2024 Guidance

Posted on 23 April 2024 by Ken Zino

“As we continue to strengthen our ICE [internal combustion engine] portfolio, scale EVs and reinvest in the business, we are very focused on capital efficiency, enhancing profitability and free cash flow, and we will continue to take steps to create shareholder value,” said CEO Mary T. Barra. GM has produced more than $23 billion of Auto Adjusted Free Cash Flow during the last 24 months, and expects to generate more than $30 billion in the 2022-2024 period. Continue reading →

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GM Energy Offers Electric Vehicle-to-Home Charging

Posted on 18 April 2024 by Ken Zino

“GM Energy is committed to making the transition to an all-electric lifestyle an even more compelling option by simplifying all aspects of personal energy management,” said Wade Sheffer, vice president of GM Energy. “With the introduction of these new offerings, it has never been easier for our customers to access the expanded benefits of a holistic EV ecosystem, helping to mitigate the impacts of power outages and having the ability to offset certain energy costs over time.” Continue reading →

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Honda EV Hub in Ohio is Retooling

Posted on 12 April 2024 by Ken Zino

Non-unionized Toyota Motor, Honda and Hyundai, among other manufacturers in the US, have been increasing wages in an attempt to stop what appears to be impending successful UAW organizing efforts at plants owned by off-shore automakers following the UAW Detroit Three contract sweep last October. Continue reading →

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New Grille and Battery for 2025 Mercedes-Benz EQS

Posted on 10 April 2024 by Ken Zino

Mercedes‑Benz said today that the EQS Sedan for 2025 model year has numerous upgrades with a new larger 118-kWh battery for increased electric range, a front fascia with a new grille and the Mercedes-Benz standing star on the hood, as well as new standard and optional equipment. The 2025 Mercedes-Benz EQS Sedan arrives at U.S. dealerships later in 2024. The EQ brand is all electric, of course. The EQS SUV is a two- or three-row large vehicle produced at the Mercedes-Benz plant in Tuscaloosa, which is currently, so to speak, experiencing labor issues. Continue reading →

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Hyundai 2025 Santa Cruz Debuts in New York

Posted on 27 March 2024 by Ken Zino

Hyundai today unveiled a revised 2025 Santa Cruz Sport Adventure Vehicle in a world debut at the New York International Auto Show. Santa Cruz has mildly redesigned exterior and interior surfaces, along with new infotainment and additional advanced driver assistance systems. The 2025 Santa Cruz arrives at Hyundai dealerships this summer.

“The development goal for freshening Santa Cruz was to give it an even bolder, stronger design. We also wanted Santa Cruz to be more capable, and the available XRT trim delivers with all-terrain tires, front tow hooks and improved off-road capability,” said José Muñoz, president and Global COO of Hyundai Motor Company. “Customers are going to appreciate all the new design details and enhancements inside and out. Santa Cruz is a true sport adventure vehicle.” Continue reading →

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PEVE to Become Toyota Battery Company

Posted on 27 March 2024 by Ken Zino

Toyota Motor (NYSE:TM) in Japan confirmed today that Primearth EV Energy Co., Ltd. (PEVE) will become a wholly-owned subsidiary of Toyota Motor. The subsidiary will use the technology advanced through Toyota’s hybrid vehicle battery business to date. and presumably improve on it. The transaction is scheduled to be approved at PEVE’s Annual General Meeting of Shareholders in late June 2024. It’s the latest in a series of moves by Toyota to become a dominant EV company.

“The new company name embodies our determination to leverage the technology and skills honed since PEVE’s establishment in 1996 to contribute to the competitiveness of Japanese batteries and become a company that provides high-quality and highly safe on-board batteries. In addition to batteries for Hybrid Electric Vehicles (HEVs), we plan to produce batteries for Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). Through our efforts in the production of diverse and next-generation on-board batteries, we hope to create new value and be useful to society,” PEVE said. Continue reading →

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