Category Archives: milestones

More Green Economy Jobs Coming to Michigan

Posted on 17 January 2025 by Ken Zino

Four economic development projects in Southeast Michigan  representing~ $55 million in capital investment and 167 jobs in Wayne and Oakland counties were announced today by Governor Gretchen Whitmer. 3E Nano Inc, dba NxLite is a company providing nano-thin energy and solar control coatings for the polymer, glass, and window industries. Robert Bosch LLC., part of the Bosch Group intends to create a Regional Hydrogen Research and Development Hub at the company’s Farmington Hills headquarters. Envergia recovers minerals and metals from recycling of industrial lithium-ion and EV batteries. Software company dSPACE.

“Today, we are investing in advanced manufacturing companies across Southeast Michigan to create 167 good-paying jobs and build on our work to grow Michigan’s economy,” said Governor Whitmer. “From battery recycling to software testing to research and development, we are bringing good-paying, high-tech jobs home to Michigan, creating opportunities for our workers and securing the automotive supply chain.” Continue reading →

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Toyota’s Hino Motors Emissions Fraud – $1.6B Plea Deal

Posted on 16 January 2025 by Ken Zino

The U.S. Justice Department, Environmental Protection Agency (EPA), FBI, Customs and Border Protection (CBP), Department of Transportation’s Office of Inspector General (DOT-OIG), National Highway Traffic Safety Administration (NHTSA), and State of California reached criminal and multiple civil resolutions, valued at more than $1.6 billion, with Hino Motors Ltd., Hino Motors Manufacturing U.S.A., Inc. and Hino Motors Sales U.S.A., Inc. (collectively, Hino) for violations related to the submission of false and fraudulent engine emission testing and fuel consumption data to regulators and the illicit smuggling of engines into the United States. These resolutions are subject to approval by the U.S. District Court for the Eastern District of Michigan.

“Hino knew the requirements that engines must meet to be certified to operate in the United States, yet it falsified data for years to skirt regulations,” said Assistant Attorney General Todd Kim of the Justice Department’s Environment and Natural Resources Division (ENRD) yesterday. “Hino’s actions led to vast amounts of excess air pollution and were an egregious violation of our nation’s environmental, consumer protection and import laws.” Continue reading →

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Chevrolet 2025 Corvette ZR1 Starts at $185,995

Posted on 13 January 2025 by Ken Zino

Chevrolet has finally announced pricing for the 2025 Corvette ZR1, the fastest, quickest and most powerful Corvette yet. With a top speed of 233 mph on the track, 0-60 in 2.3 seconds [footnote 1] and 1064 horsepower, the Corvette ZR1 is unmatched by any current production car priced under $1 million. The 3LZ coupe is available for a starting MSRP of $185,995 (excludes tax, title, license, dealer fees, optional equipment. Dealer sets final price) or $195,995 for the 3LZ convertible. Production of the 2025 Corvette ZR1 will begin at Bowling Green Assembly sometime during Q2.

“ZR1 is an example of design and engineering excellence, one where we push the boundaries of what’s possible in terms of performance,” said Scott Bell, vice president of global Chevrolet. “It was important for us to stay true to Corvette’s promise of a vehicle whose world-class capabilities completely outmatch its price.” Continue reading →

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Goodyear to Sell Dunlop Brand to Sumitomo Rubber Industries

Posted on 8 January 2025 by Ken Zino

The Goodyear Tire & Rubber Company (NASDAQ: GT) has announced that it has signed a definitive agreement to sell the Dunlop brand, together with certain associated intellectual property, to Sumitomo Rubber Industries Ltd. (TYO: 5110). The deal includes trademarks and intangible assets necessary for operations of the brand business in Europe, North America and Oceania for consumer, commercial and other specialty tires. The transaction is subject to regulatory approvals, other customary closing conditions and consultations and is expected to close by mid-2025.

“This is another important milestone as we continue to execute against our Goodyear Forward transformation plan. We are optimizing our portfolio and reducing leverage to drive sustainable and substantial shareholder value creation,” said Mark Stewart, Goodyear Chief Executive Officer and President. “Not only does the transaction deliver significant value for our shareholders, it better positions Goodyear to enhance our focus on the growth of our core brands.” Continue reading →

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Mazda to Make its First Pure EV in Hiroshima

Posted on 6 January 2025 by Ken Zino

Mazda Motor Corporation said today in Hiroshima that it will build a new module pack plant for automotive cylindrical lithium-ion battery cells in Iwakuni City, Yamaguchi Prefecture, Japan. The new plant will produce modules and packs of automotive cylindrical lithium-ion battery cells procured from Panasonic Energy Co. The completed battery packs will be installed in Mazda’s first battery EV that uses a dedicated EV platform and will be manufactured at Mazda’s Hiroshima plant. The annual production capacity is planned to be 10 GWh. Continue reading →

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Garmin Debuts Blind Spot Motorcycle Radar

Posted on 6 January 2025 by Ken Zino

Garmin (NYSE: GRMN) its first purpose-built radar system for motorcycles today. Called the zūmo™ R1 Radar, it provides riders with rearview and blind spot monitoring. The device has two side-facing amber lights and an optional rear-facing red light that can help maximize visibility to nearby vehicles, while indicator lights on the handlebars make riders aware of approaching vehicles. suggested retail price is $599.99, and it is immediately available.

“We’re excited to bring innovative radar technology to our motorcycle customers with the zūmo R1 Radar. As all riders know, situational awareness is paramount when sharing the road. Information about the location of approaching vehicles, especially those that may be in your blind spot, can allow you to ride with more confidence and the high-visibility external lights can help other drivers be more aware of you as well,”said–Dan Bartel, Garmin Vice President of Global Consumer Sales. Continue reading →

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Milestones – F1, Can Am and Le Mans Winner Jacky Ickx

Posted on 3 January 2025 by Ken Zino

Jacky Ickx, was born on 1 January 1945 in Brussels. His father Jacques Ickx, a motorsport journalist, no doubt awoke his interest in fast vehicles. His first successes came in motocross and Formula 2 racing – becoming Formula 2 European champion in 1967. One year later, Ferrari put him on the Formula 1 grid while he was in his early twenties. His expertise of wet-weather driving was apparent on numerous occasions, including in Rouen where he landed his first Grand Prix victory. Ickx would win eight Grands Prix for Ferrari, Brabham and Lotus. Porsche congratulated Jacky Ickx on his 80th birthday this week.

“After his career in Formula 1, Ickx shifted his focus to endurance races,” Porsche said. “In his first year at Porsche in 1976, he picked up three victories in the World Championship for Makes and four in the World Sportscar Championship. Ickx also won the 24 Hours of Le Mans in a Ford GT40 in 1969 and repeated this triumph for Porsche in 1977, 1981 and 1982. The race in June 1977 not only saw him mount one of the best recoveries from a trailing position in motorsport history; it is also considered one of the most incredible races in his career. The sports car manufacturer from Zuffenhausen entered two Porsche 936 models. Continue reading →

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Milestones 2025 – the Goodyear Blimp 100th Anniversary

Posted on 2 January 2025 by Ken Zino

The Goodyear Tire & Rubber Company (NASDAQ: GT) will celebrate the 100th anniversary in 2025 of the Goodyear Blimp with flights over more cities to appearances at new events, and chances for fans to fly. There will also be “limited-edition … Continue reading →

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First Look – EPA AirNow Mobile App

Posted on 2 January 2025 by Ken Zino

“State and local air agencies issue AQI forecasts as a public service to help people plan their outdoor activities. The agencies provide them to EPA, which shares them on the AirNow app and Airnow.gov website. Until now, AirNow users had to remember to check the app or website to see their forecasts; with the updates to the AirNow mobile app, people can opt to be notified when the daily forecast reaches an AQI category of their choosing,” EPA said. Continue reading →

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Private Equity Buys Comau. Stellantis has Minor Stake

Posted on 31 December 2024 by Ken Zino

Stellantis N.V. (NYSE: STLA ) has confirmed that One Equity Partners – a private equity firm – has completed its majority investment in Comau S.p.A. a global company specializing in industrial automation and advanced robotics. It’s the latest move at struggling Stellantis to clean up its ailing automotive pursuits.*

“I want to express my gratitude to Comau’s employees for providing innovative products and services to all its customers,” said Stellantis Chairman John Elkann in a pro-forma statement. “I am confident that Comau, under its new ownership, has the right leadership, strategy and operational discipline to create sustainable, long-term value for all its stakeholders, from Italy to the world.” Continue reading →

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BMW i Ventures Buys into Phoenix Tailings

Posted on 30 December 2024 by Ken Zino

BMW i Ventures announced today an investment in Phoenix Tailings, a inventive metals production company dedicated to creating a zero-waste, zero-emission future. The Series B financing, which was led by Envisioning Partners and included additional participation from Yamaha Motor Ventures and Escape Velocity, will enable Phoenix Tailings to scale its rare earth processing operations to produce ~200 tons of rare earth metals annually. The output can be used in electric motor magnet , batteries, semiconductors – among other applications.

Phoenix Tailings says it was “founded in Cambridge, Massachusetts  to transform how critical metals are produced – metals essential to the technologies that power modern society.” The nascent firm was heavily subsided by U.S. taxpayers via the United States Departments of Energy and Defense, as well as the State of Massachusetts. With the monies, Phoenix Tailings secured initial off-take agreements, validated its technology to process mining waste, and hired a team of workers to make the metals. Continue reading →

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Greetings from the White House Diplomatic Reception Room

Posted on 25 December 2024 by Ken Zino

“The holidays have always held a special place in our hearts, and we’ve loved opening the doors of the People’s House wider and wider each year, continuing the spirit of goodwill and gratitude. America’s story is your story, and we hope you feel at home here,” said the President Joe Biden and First Lady Jill Biden. Continue reading →

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Volkswagen Settles – Union Jobs Safe Until 2030

Posted on 24 December 2024 by Ken Zino

Volkswagen AG (VOW.F) and its IG Metall* and Works Council employee representatives for Passenger Cars, Commercial Vehicles and Group Components as well as its Audi and other brands have concluded a joint agreement – dubbed ‘Zukunft Volkswagen’ (Future) – that guarantees jobs as it reduces production capacities at Volkswagen AG’s German locations. Ultimately, but not now, the workforce will be cut by more than 35,000 at Volkswagen’s German locations by 2030. This includes a newly formulated “job security plan” through to 2030 at the troubled automaker.

“Cost savings for Volkswagen AG of more than €15 billion per year in the medium term,” VW said. “Of this, over €4 billion per year will come from the present negotiations on labor costs, structural and production measures and plant utilization. Labor cost effects alone amount to €1.5 billion per year.” However, the capital markets remain skeptical taking a wait and see attitude about VW’s ability to compete with higher quality and less expensive brands. AutoInformed notes that this is a five-year bet on the come line or the promise that material cost savings will be secured. VW stock closed yesterday at €88.85. A year ago on 23 December it was €93.95. Continue reading →

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Nissan and Honda Sign Integration MOU!

Posted on 23 December 2024 by Ken Zino

Nissan Motor Co. (7201T. NSANY ADR) and Honda Motor Co. (NYS: HMC) have signed a memorandum of understanding (MOU) to start discussions and considerations toward a business integration between the two companies through the establishment of a joint holding company. In effect this will be the merger of the two companies with Honda as the stronger member so to speak given Nissan’s perilous operating results. It also raises questions about the continuance of Honda’s business ventures with General Motors.* What it does potentially do is create the world’s third largest automaker with potential annual sales of ~8-9 million, behind Toyota and struggling Volkswagen.

AutoInformed opines that as with all such complex multi-national corporate mergers, the details at the outset and more importantly in the final agreements and their implementation are key to its success. Given the twists and turns of the road and diverse corporate cultures of the participants – where there are no balance sheet entries – this is an endurance race that makes the 24 hours of Le Mans look like a 30-second TV spot. It also likely makes the venture subject to US SEC regulations, including form 4F and forward looking statements. Continue reading →

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2025 Corvette ZR1 – 2.3 Seconds 0-60 MPH

Posted on 20 December 2024 by Ken Zino

The 2025 Chevrolet Corvette ZR1 is the fastest car ever built by an American auto manufacturer. At a test track in Germany in October 2024, General Motors (NYSE: GM) President Mark Reuss drove a 2025 Corvette ZR1 233 mph, setting a top speed record for any current production car priced under $1 million.* The Corvette team set this two-way average speed on the northbound and southbound straightaways of the High-Speed Oval Track at ATP Automotive Testing Papenburg. Now building on the marketing campaign, Chevy said this week that a 2025 Corvette ZR1 with 1064 horsepower is the quickest Corvette ever, achieving 0-60 mph in 2.3 seconds with the optional ZTK Performance Package. The 2025 Chevrolet Corvette ZR1 is the fastest car ever built by an American auto manufacturer. At a test track in Germany in October 2024, General Motors (NYSE: GM) President Mark Reuss drove a 2025 Corvette ZR1 233 mph, setting a top speed record for any current production car priced under $1 million. Now building on the marketing campaign, Chevy said this week that The 2025 Corvette ZR1 with 1064 horsepower is the quickest Corvette ever, achieving 0-60 mph in 2.3 seconds with the optional ZTK Performance Package. Clearly waiting is the next event – a Nürburgring run, AutoInformed opines.* Continue reading →

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