Category Archives: shows and events

GM to Sell Lansing Battery Plant to LG Energy Solution

Posted on 2 December 2024 by Ken Zino

General Motors (NYSE: GM) said today that it has reached a non-binding agreement to sell its stake in the nearly completed Ultium Cells LLC battery cell plant in Lansing, Michigan to its joint venture partner LG Energy Solution.* The transaction is expected to close in the 2025 first quarter, subject to customary closing conditions. 

“Our EV profitability is rapidly improving thanks in part to our strategic decision to build battery cells in the U.S. with LG Energy Solution. It will be years before some of our competitors approach this level of performance,” said Paul Jacobson, GM executive vice president and CFO. “We believe we have the right cell and manufacturing capabilities in place to grow with the EV market in a capital efficient manner. When completed, this transaction will also help LG Energy Solution meet demand by leveraging capacity that’s nearly ready to come online and it will make GM even more efficient.”  Continue reading →

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Carlos Tavares Out as Stellantis CEO

Posted on 2 December 2024 by Ken Zino

Stellantis (NYSE: STLA ) in an unusual but not surprising Sunday release said that the Company’s Board of Directors, under the Chairmanship of John Elkann, has accepted Carlos Tavares’ resignation on 1 December 2024 as Chief Executive Officer with immediate effect. The process to appoint the new permanent Chief Executive Officer is well under way, as AutoInformed* previously reported, managed by a Special Committee of the Board. It will conclude within the first half of 2025. Until then, a new Interim Executive Committee, chaired by John Elkann, will be established. Continue reading →

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Bernie Ecclestone Selling His F1 Car Collection

Posted on 2 December 2024 by Ken Zino

“I have been collecting these cars for more than 50 years, and I have only ever bought the best of any example. Whilst many other collectors over the years have opted for sports cars, my passion has always been for Grand Prix and Formula 1 cars,” said Ecclestone. “A Grand Prix and in particular a Formula 1 car is far more important than any road car or other form of race car, as it is the pinnacle of the sport, and all the cars I have bought over the years have fantastic race histories and are rare works of art.”

“I love all of my cars but the time has come for me to start thinking about what will happen to them should I no longer be here, and that is why I have decided to sell them. After collecting and owning them for so long, I would like to know where they have gone and not leave them for my wife to deal with should I not be around,” said Ecclestone. Continue reading →

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F1 – Qatar Investment Authority Buys Into Sauber

Posted on 29 November 2024 by Ken Zino

QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with institutions around the world “to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.” It is the subject of controversies, including its dealings with Russia, embezzlement charges of former executives, its ownership of Heathrow airport, the PGA tournaments, the football World Cup, among others. Continue reading →

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Annals of Marketing – Broad Arrow Auctions and BMW

Posted on 27 November 2024 by Ken Zino

Thus Broad Arrow Auctions makes its overseas live auction debut following annual North American sales events, including the Monterey Jet Center Auction and The Amelia Auction, where Broad Arrow is the official auction house of The Amelia (Concours d’Elegance). At each of these auctions, Broad Arrow claims rapid growth, continuing to increase total sales and the average value of cars sold year-over-year.

Founded in 1929, the Concorso d’Eleganza Villa d’Este is one of the world’s oldest concours d’elegance events. Hosted by BMW Group Classic and Grand Hotel Villa d’Este, Saturday’s tickets for the events at Villa d’Este are limited, while the parade of Historic Cars is open to the public on Sunday at Villa Erba. Broad Arrow’s auction will be held on Saturday 24 May 2025 at Villa Erba. Continue reading →

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Honda – Global Expansion of Electric Motorcycles

Posted on 27 November 2024 by Ken Zino

Honda in Tokyo today announced two electric personal commuters in India continuing 2024 as the first year for its global expansion of electric motorcycles. The new ACTIVA e and QC1 are the 12th and 13th models, respectively, of Honda’s “30 electric models to be launched globally by 2030” target. The ACTIVA e is equipped with two Honda Mobile Power Pack e with swappable batteries as its power source. QC1, has a fixed battery.

“Both ACTIVA e: and QC1 will be manufactured in India, strengthening the electric commuter lineup to meet the growing needs for electric mobility in the Indian market. In addition, Honda Power Pack Energy India Private Limited will operate Honda e:Swap, a battery sharing service, in three major Indian cities (Bengaluru, the National Capital Territory of Delhi, and Mumbai [footnote 3], providing customers mobility experience with more peace of mind,” Honda said. Continue reading →

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EPA – US Fuel Economy Record High. CO2 Record Low

Posted on 26 November 2024 by Ken Zino

“This annual report indicates EPA’s commitment to provide the public with information about new light-duty vehicle greenhouse gas emissions, fuel economy, technology data, and auto manufacturers’ performance in meeting the nation’s emissions standards. EPA’s annual Automotive Trends Report is separate from the agency’s regulatory process, which is far more complex and has been subject to political and judicial interference funded by special interest groups. – AutoCrat.” Continue reading →

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Subaru 2025 Forester Wilderness SUV – $36,415

Posted on 22 November 2024 by Ken Zino

Subaru of America today said pricing on the rugged 2025 Forester Wilderness SUV will range from $36,415 to $38,415 with the only option package including destination.* In addition to longer coil springs and shock absorbers, the 2025 Subaru Forester Wilderness adds 17-inch matte-black alloy wheels with All-Terrain Yokohama GEOLANDAR® tires for increased traction on muddy, wet, or snowy roads or trails. A full-size spare is underneath the cargo area. Continue reading →

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Hyundai Debuts 2026 IONIQ 9 EV SUV

Posted on 21 November 2024 by Ken Zino

Hyundai Motor Company today revealed IONIQ 9, a three-row, all-electric SUV in Los Angeles. The 110.3 kWh battery delivers a WLTP-projected driving range of 620 km [see footnote 2].* The E-GMP architecture delivers 10% to 80% recharge in 24 minutes[3]. The seven seat IONIQ 9 will be shown publicly at the LA Auto Show and on sale in Korea and the United States during the first half of 2025. Rollouts are planned for Europe and other markets subsequently. It has the longest wheelbase of any Hyundai model, at 3130 mm. (read AutoInformed.com on:Vast Executive Reorganization at Hyundai Group)

“IONIQ 9 embodies Hyundai Motor’s unwavering commitment and confidence in electrification,” said Jaehoon Chang, President and CEO of Hyundai Motor Company. “Based on Hyundai Motor Group’s acclaimed Electric-Global Modular Platform (E-GMP), IONIQ 9 offers outstanding interior space, providing customers with unique value while solidifying our leadership in the global EV market.” Continue reading →

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Stellantis Bets the Company on STLA Frame

Posted on 20 November 2024 by Ken Zino

Stellantis (NYSE: STLA) has debuted a new multi-energy Platform: dubbed STLA Frame. Purposely designed for full-size, body-on-frame trucks and SUVs, STLA Frame can use internal combustion, hybrid, hydrogen, battery electric (BEV) and range-extender electric vehicle (REEV) technologies. In short, struggling Stellantis’ future is dependent on this new architecture. (read AutoInformed.com on: Beleaguered Stellantis Cuts 2024 Financial Guidance, and Stellantis Q3 2024 – Shipments and Revenues Plunge)*

“Like STLA Medium and STLA Large, STLA Frame combines an unprecedented range with new levels of capability and performance to offer best-in-class range, payload and towing for our customers who need reliable and powerful trucks and SUVs, to haul their families or power their businesses,” said Stellantis CEO Carlos Tavares. “With full EV and extended-range EV tech coming soon, we’re bringing ‘no compromise’ solutions to buyers who may be hesitant on trying their first electric vehicle. We’re proud of this engineering marvel and look forward to seeing it come to life in our upcoming product blitz on Jeep and Ram.” Continue reading →

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Toyota Huntsville Finishes 168-acre Solar Array

Posted on 19 November 2024 by Ken Zino

Toyota (NYSE: TM) and Toyota Tsusho America (TAI) and Huntsville Utilities have completed 168-acre solar project. The renewable energy produced will generate ~70 % of Toyota Alabama’s total energy. It is in keeping with the automaker’s goal of achieving carbon neutrality at all of its North American facilities by 2035. In total, the array will generate approximately 62,000 megawatt hours of energy annually, reducing an estimated 22,000 metric tons of CO2 emissions per year.

“Toyota is committed to clean and sustainable power. We know that the collective future for our community and our team members depends on clean mobility, clean air, clean water, and biodiversity,” said Jason Puckett, president of Toyota Motor Manufacturing, Alabama. “We are thankful for our partners on this project who have created a model of environmental stewardship in North Alabama.” Continue reading →

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National Recycling Plan Advancing Circular Economy

Posted on 15 November 2024 by Ken Zino

The U.S. Environmental Protection Agency today said its “National Recycling Strategy” is advancing through implementation of the Bipartisan Infrastructure Law.* EPA is central to the Biden-Harris administration’s efforts to build a circular economy thereby creating jobs and helping the environment. Since 1997, EPA has celebrated the nation’s progress on recycling. This year, EPA is encouraging organizations and individuals to continue expanding the ways they reduce, reuse and recycle. Together with investments from the Bipartisan Infrastructure Law, EPA’s work has helped to transform recycling and solid waste management across the nation. It was not immediately clear if the incoming Administration is the result of recycled garbage. Continue reading →

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Chinese EV Trade Wars Hits Volvo Cars

Posted on 14 November 2024 by Ken Zino

Volvo Cars (VOLCAR B:STO) today announced the selling of its 30% stake in Lynk & Co to Zeekr, a transaction representing a consideration of RMB 5.4 billion (~ SEK 8 billion). The transaction will be paid in cash, with 70% of the amount paid at closing, and 30% plus interest paid one year after closing. The transaction is expected to close during the first quarter of 2025. Volvo Cars is currently trading near its all time low.

The transaction involves Volvo Cars (China) Investment Co., Ltd, an indirect subsidiary of Volvo Car AB, selling its share in Lynk & Co Automotive Technology Co., Ltd to Zhejiang Zeekr Intelligent Technology Co., Ltd, an indirect subsidiary of Zeekr Intelligent Technology Holding Limited. Continue reading →

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NLRB Rules Against Anti-Union Captive-Audience Meetings

Posted on 13 November 2024 by Ken Zino

The National Labor Relations Board today issued a decision in Amazon.com Services LLC, ruling that an employer violates the National Labor Relations Act by requiring employees under threat of discipline or discharge to attend meetings in which the employer expresses its views on unionization. Members Prouty and Wilcox joined Chairman McFerran in issuing the decision. Member Kaplan – a Trump appointee – dissented. Continue reading →

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McKinsey and Hire Heroes USA – Bridging Veteran Career Gaps

Posted on 11 November 2024 by Ken Zino

McKinsey& Company said today that it is working with Hire Heroes USA to bridge the career gap for veterans. About 60% of the estimated 150,000 U.S. active-duty service members who transition from the military each year earn less during their first year after being discharged versus what they earned during active duty, according to a recent McKinsey article.

“Hire Heroes USA gave me the confidence and tools to return to the workforce. After six years out of the workforce, three years battling cancer, I didn’t know how to navigate job searches and resume writing,” said Samantha Bell, a U.S. Navy veteran who works as a clinical instructor in ABA therapy. “The coaching, friendship, and resources were invaluable as someone who felt lost and alone.” Continue reading →

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