Stellantis Shareholders Approve €4.2 Billion Dividend

Posted on 13 April 2023 by Ken Zino

Stellantis N.V. (NYSE: STLA)* announced today that all resolutions submitted to the shareholders for approval at the Annual General Meeting of Shareholders (AGM) held in-person and broadcast live via Stellantis’ website were adopted, including the proposal to approve a €4.2 billion dividend distribution on common shares.

The proposed distribution means a payment to the holders of common shares of €1.34 per outstanding common share. Shareholders holding common shares traded on the NYSE will receive $1.463548 per common share based on the official USD/EUR exchange rate reported by the European Central Bank on 12 April 2023. Continue reading →

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EPA Wants Toughest Federal Emission Standards Ever

Posted on 12 April 2023 by Ken Zino
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The U.S. Environmental Protection Agency (EPA) today – as expected from controlled media leaks – announced new proposed federal vehicle emissions standards that historically are the strongest for cars and trucks.

EPA said the new regulations would deliver on President Biden’s promise to tackle the climate crisis and deliver health and economic benefits for all. The combined proposals, EPA said, would avoid ~10 billion tons of CO2 emissions, equivalent to more than twice the total US CO2 emissions in 2022, saving thousands of dollars over the lives of the vehicles meeting the new standards and reduce America’s reliance on approximately 20 billion barrels of oil imports. Yes, but…* Continue reading →

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Land Speed Record Breaker Craig Breedlove Passes at 86

Posted on 11 April 2023 by Ken Zino

Norman Craig Breedlove Sr. passed away yesterday, the Specialty Equipment Manufacturers Association said today in SEMA news update. Breedlove was elected into the Motorsports Hall of Fame of America in 1993, Dry Lakes Racing Hall of Fame (1995), International Motorsports Hall of Fame (2000), and the Automotive Hall of Fame (2009). He also earned life membership in the Bonneville 200 MPH Club (1963).

His plaque at the Automotive Hall of Fame in Dearborn, MI reads: “America’s King of Speed – Craig Breedlove became one of the most popular motorsports personalities in America after breaking the land speed record five times between 1963 and 1965. He was born in Los Angeles, California in 1937 to parents who worked in the movie industry. He bought his first car when he was only 13, and at 16 drove his 1934 Ford hot rod with a supercharged V8 engine to a recorded speed of 154 mph on the dry lakes of the Mojave Desert. Four years later, he drove a supercharged Oldsmobile-powered streamliner to 236 mph on the Bonneville Salt Flats. Continue reading →

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EPA Wants More Health Protection for Commercial Sterilization

Posted on 11 April 2023 by Ken Zino

The US Environmental Protection Agency (EPA) today is proposing new health protections to reduce exposure to Ethylene Oxide (EtO)*. These include more stringent air emissions standards and additional protections for workers who are exposed to the gas used to sterilize medical devices and some spices. The proposal is part of President Biden’s commitment to ending cancer as we know – the so-called Cancer Moonshot. It also reaffirms the Administration’s desire for environmental justice and protecting public health, including for communities that are most exposed to toxic chemicals.

“EPA’s number one priority is protecting people’s health and safety, and we are committed to taking decisive action that’s informed by the best available science,” said EPA Administrator Michael S. Regan. “These proposals build on EPA’s extensive outreach to communities across the nation and reflect close coordination among key federal partners. Together they would significantly reduce worker and community exposure to harmful levels of ethylene oxide. EPA will continue to use every available tool to safeguard our nation’s communities, including workers, from exposure to toxic chemicals and to deliver important public health protections,” Regan said. Continue reading →

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Ford Oakville Assembly in Canada to Convert to EVs

Posted on 11 April 2023 by Ken Zino

Ford Motor (NYSE: F) said today it is investing C$1.8 billion in its Oakville Assembly Complex to make it  into a high-volume hub of electric vehicle manufacturing in Canada. The property, to be renamed Oakville Electric Vehicle Complex, will begin to retool and modernize during Q2of 2024 to prepare for production of next-generation EVs.

This apparently marks the first time a full-line automaker has announced plans to produce “passenger EVs in Canada for the North American market,” claimed Ford. This apparently rules out truck production? Oakville currently builds the Ford Edge and Lincoln Nautilus (autoinformed.com on: Ford Motor Q1 2023 US Sales Up 10%) Continue reading →

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GM Ventures is Investing in EnergyX for EV Batteries

Posted on 11 April 2023 by Ken Zino
GM Ventures is Investing in EnergyX for EV Batteries

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Energy Exploration Technologies and General Motors (NYSE: GM) today announced that GM Ventures is leading a $50 million Series B financing round in EnergyX. GM has entered into an agreement to develop EnergyX’s* lithium extraction and refinery technology.

The intent is to secure an American supply of lithium, a critical material for EV batteries, by using EnergyX’s refining technology to support  GM’s rapidly expanding EV production. GM, among the global leaders leader in electric vehicles, is investing in every phase of the battery supply chain in North America, from raw materials, to processing, to cell components and full battery cell production. Continue reading →

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Ford – Most Hourly Workers, US-Assembled Vehicles, Exports

Posted on 10 April 2023 by Ken Zino

Ford Motor Company (NYSE: F) said in Dearborn today that it is the No. 1 US automaker on the basis of vehicles assembled1, hourly autoworkers employed in America and vehicles exported from America to other countries3, according to 2022 data from S&P Global Mobility. Overall, nearly 80% of the vehicles Ford sells in the US are assembled in the US.2  The export number of 260,000, and perhaps others, could be subject to discussion and nuance. For almost a decade BMW Manufacturing, Spartanburg, has led the US-made exported category. The latest data released in February show BMW led the nation in automotive exports by value, according to the US Department of Commerce. The South Carolina plant exported 227,029 BMW Sports Activity Vehicles and Coupes during 2022 with an export value of ~$9.6 billion. (autoinformed.com on:BMW Manufacturing is Largest US Automotive Exporter)

“Ford has bet on American workers, including the UAW, more than any other automaker. This commitment combined with great product and innovation, has earned us the loyalty of customers and returned Ford to America’s best-selling brand so far this year. We could make different decisions, as many others have done to reduce costs, but Ford is different. We will find ways to be lean and competitive while investing in our home market,” claimed Jim Farley, Ford president and CEO. This is, of course,  a UAW contract negotiation year starting this summer with many recent Ford jobs going to Southern states hostile to unions.
 Continue reading →

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First Look – 2025 Ram 1500 REV

Posted on 8 April 2023 by Ken Zino
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The first battery-electric light-duty pickup truck from Ram Truck – 2025 1500 REV – showed up in New York this week (NYSE: STLA)*. It will eventually come with a 168 kilowatt-hour battery pack with a forecast range of up to 350 miles or a supply-more-money (SMM) optional 229 kilowatt-hour large battery pack with a targeted range of 500 miles. Ram claims the traditional body-on-frame chassis is able to tow up to 14,000 lbs. with a payload of up to 2700 lbs. Other targeted – err, hoped for – performance figures include a 0-60 mph time of 4.4 seconds, 654 horsepower, 620 lb.-ft. of torque, and up to 24 inches of water fording.

“The all-electric Ram 1500 REV is a monumental milestone on our continued journey to offer the industry’s best electrified solutions and further fortifies our award-winning lineup,” claimed Mike Koval Jr., Ram brand CEO at Stellantis.** “We believe in bringing the right range of powertrain solutions to our customers and will continue to redefine the pickup truck segment. Our all-new Ram 1500 REV pushes past the competition in areas customers care about most including range, towing, payload and charge time.” Continue reading →

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Illegally Towed Vehicles – DOJ Helping Service Members

Posted on 7 April 2023 by Ken Zino
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The US Justice Department said today that has entered into a consent order* requiring Steve’s Towing Inc. in Virginia Beach, Virginia, to pay $90,000 to settle a complaint alleging that the company violated the Service Members Civil Relief Act (SCRA).

The complaint filed on 15 April 2022, alleges that Steve’s Towing failed to obtain court orders before auctioning off vehicles belonging to at least seven SCRA-protected service members, including two vehicles belonging to a member of a Navy SEAL team who was deployed overseas. This of course comes at a time when local, state and nationally elected Republicans are trying to de-fund and disrupt the US justice system. Continue reading →

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First Look – 2023 Toyota Corolla Cross Hybrid

Posted on 7 April 2023 by Ken Zino
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The latest version of the Toyota Corolla sedan, a perennial global best seller, finally made its US debut this week – the 2023 Cross Hybrid adding choices, along with the gas model launched in 2021. Both will be assembled at the Mazda Toyota Manufacturing plant in Huntsville, Alabama. (autoinformed.com on: Mazda Exporting US-made CX-50 to Mexico from Toyota JV)

Cross Hybrid debuts the Fifth Generation of the Toyota Hybrid System with increased performance and efficiency. In a bow to America’s large appetite for cross-overs and trucks, it comes only in all-wheel drive as a version of the so-called TNGA-C platform. It also a higher sight-lines, and higher prices ranging approximately from more than $30,000 to more than $35,000. The non-hybrid version starts at ~$25,000.  Continue reading →

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EPA Proposes to Reduce Toxic Chemical Plant Air Pollution

Posted on 6 April 2023 by Ken Zino

The U.S. Environmental Protection Agency (EPA) today announced a proposal to significantly reduce hazardous air pollutants from chemical plants, including the highly toxic chemicals ethylene oxide (EtO) and chloroprene. The reductions would dramatically reduce the number of people with elevated air toxics-related cancer risks in communities surrounding the plants that use those two chemicals, particularly in communities historically overburdened by air toxics pollution. EPA projects that more than 6000 tons of toxic air pollution annually with the new regulations.

This is part of President Biden’s commitment to ending cancer as we know it as part of the Cancer Moonshot and to securing environmental justice and protecting public health, including for communities that are most exposed to toxic chemicals. EPA administrator Michael Regan made the announcement at an event in St. John the Baptist Parish, Louisiana – one of the communities the Administrator visited during his November 2021 Journey to Justice tour. Continue reading →

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FAA Grants $19M for University Research on Noise Reduction

Posted on 6 April 2023 by Ken Zino
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The Federal Aviation Administration said today that it  has awarded $19 million to 14 universities in the US to work on jet noise and other environmental issues. It’s part of the Aviation Sustainability Center (ASCENT) work that has invested more than $130 million in research since the progressive program began in 2014. In addition to the noise reduction and exposure studies, other projects focus on sustainable aviation fuel, alternative jet fuel supply chains, engine technology, commercial space and environmental measurement.

“Research is the gateway to breakthroughs. With the best minds, we can reduce noise and fly with net-zero emissions by 2050,” said Acting FAA Administrator Billy Nolen. Continue reading →

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EPA Orders Valero Refining to Improve Chemical Safety

Posted on 6 April 2023 by Ken Zino

The US Environmental Protection Agency has agreed to a settlement with Valero Refining-California to resolve violations of the Clean Air Act’s Chemical Accident Prevention regulations at its Benicia Refinery. The company will pay a $1,224,550 penalty and make changes to improve process safety at the refinery.

“This settlement sends a clear message that EPA will prosecute companies that fail to expend the resources needed to have a compliant, well-functioning Risk Management Plan to the fullest extent of the law,” said Acting Assistant Administrator Larry Starfield for EPA’s Office of Enforcement and Compliance Assurance. Continue reading →

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Toyota, Huntsville Utilities Announce 168-acre Solar Plan

Posted on 6 April 2023 by Ken Zino
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Huntsville Utilities, Toyota (NYSE: TM) Alabama and Toyota Tsusho America* (TAI) have announced a power purchase agreement to support a 168-acre, $49 million solar project. The 30-megawatt solar-generated system will be located in the North Huntsville Industrial Park, surrounding the Toyota engine plant. (autoinformed.com on: Milestones: 50 Million Toyota Corollas or 12 Generations )

“Toyota is taking a transparent, science-based approach to address climate change,” said Jason Puckett, president of Toyota Alabama. “By relying on the sun to power our operations, we will reduce our carbon footprint and create a model of environmental stewardship in North Alabama.” Continue reading →

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Bosch to Build First Automated Battery Recycling Plant

Posted on 6 April 2023 by Ken Zino
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The Bosch Group estimates that electric vehicles will comprise ~70% of all newly registered passenger cars in Europe by 2030. This is increasing demand for batteries and for the recycling of the raw materials they contain, such as lithium, cobalt, and nickel. Bosch has now developed special machinery, equipment, and software to do this. Its subsidiary Bosch Rexroth is supplying the so-called Battery Lifecycle Company*, a joint venture between REMONDIS subsidiary TSR Recycling and Rhenus Automotive, with what’s claimed to be Europe’s first fully automated system for discharging and disassembling battery modules.

“Electromobility can only establish itself in the long term if sufficient raw materials are available for battery production. Recycling plays a key role here, and helps place our output on a sustainable footing: we reuse what we use, and we recover raw materials,” says Dr. Stefan Hartung, chairman of the Bosch board of management. Continue reading →

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