IndyCar – Chevy Front Row at Grand Prix Of Alabama

Posted on 30 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on IndyCar – Chevy Front Row at Grand Prix Of Alabama

“I thought we had potential,” Veekay said.

Rinus Veekay in the No. 21 SONAX Ed Carpenter Racing car took his second NTT IndyCar pole with a top lap of 1m, 6.2507s for the Grand Prix of Alabama at Barber Motorsports Park tomorrow.* Pato O’Ward in the No. 5 Arrow McLaren SP Chevrolet qualified second to make it an all-Chevrolet power front row. VeeKay became the fourth different NTT P1 Award winner in as many races this season.

“I thought we had potential,” VeeKay said. “It was a chaotic session. We knew we were in a good position, but to actually put it on pole was an accomplishment. I think the whole team maximized everything. We made the right decisions with tires, setup, everything. “Confidence is high. I think from here we can have a great race and fight for the win, definitely.” Continue reading →

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Congress Investigating Face Verification Vendor ID.me

Posted on 29 April 2022 by Ken Zino

The House Committee on Oversight and Reform in a letter has requested detailed documents from ID.me, a company that uses facial recognition technology for identity verification. The Committee’s letter highlighted “serious concerns about the efficacy, privacy, and security of ID.me’s technology” including denial of government benefits because of ID.me’s software and long wait times for verification.

The Oversight and Reform Committee is looking for records detailing all of ID.me’s federal, state, and local contracts, the number of people who submitted face scans to ID.me, the number of facial recognition errors, and information on the company’s use of many facial recognition technologies. Continue reading →

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Awakenings – Toyota to Nurture Butterflies, Bees, Bats

Posted on 29 April 2022 by Ken Zino

Ken Zino of AutoInformed.com on Toyota to Nurture Butterflies, Bees, Bats, Toyota is donating today $400,000 to the National Environmental Education Foundation (NEEF) and the Pollinator Partnership (P2) that will be used to enhance 26,000 acres of pollinator habitat across North America over the next five years.

It’s another example about how corporations are awakening to the need to nurture planet earth after centuries of neglect, creating a threat to life and the cessation of business. It also coincides nicely with the Biden Administration’s environmental policies as Democrats emerge as the party helping big business cope with the increasingly dire effects of global warming. Continue reading →

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GM CAMI – Becoming Canada’s First Full-Scale EV Plant

Posted on 29 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on GM’s CAMI Assembly Accelerates BrightDrop EV600 Production

 CAMI-based BrightDrop production is on track for Q4. The start of something big.

GM Canada’s CAMI Assembly plant in Ingersoll Ontario today begins retooling and preparation for dedicated production of BrightDrop fully electric commercial delivery vans. (AutoInformed: BrightDrop? General Motors New Business Claims It Will Electrify, Improve Goods and Services Delivery; GM’s CAMI Assembly Hastens BrightDrop EV600 Production)

When BrightDrop’s Zevo 600 production begins in Q4 2022, CAMI will become Canada’s first full-scale EV plant. BrightDrop’s Zevo 400, a smaller version of the electric van, will also be built at CAMI beginning in 2023.  Continue reading →

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M-B Group Runs Self-Congratulatory First Annual Meeting

Posted on 29 April 2022 by Ken Zino

The first annual meeting of Mercedes-Benz Group AG (stock exchange code: MBG) today in Stuttgart saw management reassert its claim to leadership in the automotive luxury segment. “In addition to accelerating electrification and digitalization, the company’s transformation continues with a relentless focus on improving financial robustness,” MB said. “Strong results in the financial year 2021 and a successful start to 2022 affirm the company’s strategic path, even in a volatile environment.”

“Last year Mercedes-Benz made good progress: We were able to sell not only more electric vehicles, but also more top models: And this, despite the ongoing pandemic and the supply bottlenecks for semiconductors. Thus, we have come a step closer to our goal of becoming fully electric and offering the most desirable vehicles,” Bernd Pischetsrieder, Chairman of the Supervisory Board of Mercedes-Benz Group AG said on Friday at the virtual Annual Meeting. Continue reading →

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Green Autonomous Mobility at Michigan State University

Posted on 29 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Green Autonomous Mobility at Michigan State University

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Michigan State University officially deployed a full-size autonomous EV bus this week. A 27-foot, 22-seat Karsan Autonomous e-ATAK bus is taking passengers on the 2.5-mile campus route. The autonomous bus is one of the largest of its kind to be deployed on U.S. roadways to date. The bus has 22 seats, with students, staff and faculty being able to board and depart the bus at two stations. The bus also has a wheelchair ramp and audio messaging for accessibility.

The Spartan bus completed on-campus testing, which did not include written college admission tests. More than 650 test runs of its route during all hours of the day helped make the official deployment possible. As part of the process to accept passengers, validation of the bus, route and infrastructure was granted by the National Highway Traffic Safety Administration (NHTSA). It appears to be the first and only SAE Level-4 automated bus that has NHTSA approval. Continue reading →

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Lower Credit Ratings for Firms with Poor ESG Ratings

Posted on 28 April 2022 by Ken Zino

Poor environmental ratings and higher carbon footprints are associated with lower corporate bond credit ratings and higher yield spreads, particularly for firms located in states with stricter environmental regulations, according to  Lee Seltzer of the New York Federal Reserve Bank, Laura Starks of the University of Texas at Austin, and Qifei Zhu of Nanyang Technological University.

This research – the latest rebuttal to climate change dis-avowers – came AutoInformed’s way from the Hutchins Center on Fiscal and Monetary Policy* at the Brookings Institute. So-called Environmental, social, and governance ethics, aka ESG, are becoming an increasing factor in a company’s ratings because they reflect its ability to survive in AutoInformed’s view – if the earth survives.** Continue reading →

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GM 2021 Sustainability Report – Equitable Climate Actions

Posted on 28 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on GM 2021 Sustainability Report - Equitable Climate Actions

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General Motors today released its 12th annual Sustainability Report, explaining how it is expanding EV access, electrifying beyond automobile, as well as how it is trying to ensure that climate action is equitable and inclusive as the company transitions to an all-electric future.

“General Motors is embracing our opportunity and our responsibility to create a better world for today and for generations to come,” said Chair and CEO Mary Barra. “Our global teams are working with great speed and integrity to make our vision of a zero-emissions, all-electric future a reality that is inclusive and accessible to all.” Continue reading →

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Ford Motor Blues – Q1 Loss of $3.1 Billion

Posted on 27 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Ford Motor Blues - Q1 Loss of $3.1 Billion

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Ford Motor Company (NYSE:F) today reported its 2022 Q1 financial results, which showed $34.5 billion in revenue on shipments of ~969,000 vehicles. This resulted in a net loss of $3.1 billion and adjusted earnings before interest and taxes of $2.3 billion with an adjusted EBIT margin of a mere 6.7%. Sales, market share, cash flow, income and earnings per share were all down when compared year-over-year.

As with GM yesterday, Ford was battered by supply chain disruptions mostly beyond its control, as well as self-created costs from the valuation of its investment in Rivian with a mark-to-market loss of $5.4 billion on the company’s investment down from $10.6 billion at the end of 2021. Strong customer demand from the ongoing Biden Administration recovery wasn’t helped by Ford’s popular vehicles because of  persistent supply chain issues that Ford was unable to adjust for. Continue reading →

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Stellantis Hackathon – Hardware Enhanced by Software

Posted on 27 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis Hackathon - Hardware Enhanced by Software

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The first Stellantis “Hackathon” held  over the past weekend in Detroit used a cloud-based software development kit and vehicle data to create apps that “gamify” driving to encourage safety, fuel efficiency. It’s the latest example of the direction that mobility tech companies, aka automakers, are taking as the industry moves from only “hardware” involving stamping, welding and bolting to software-defined vehicles. Many if not all automakers are racing to  grow from their old blacksmithing ways. (AutoInformed: Dare Forward 2030 – Stellantis Survival Plan Unveiled)

The college teams were competing for real not-virtual money, $15,000 for the winning team, $5,000 for second place and $2,000 for third place. A majority of Stellantis vehicles will have full over-the-air (OTA) updating capability by 2024, with 34 million “monetizable” (sic) connected cars on the road by 2030.  Continue reading →

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GM Q1 $4 billion. Net $2.9B

Posted on 26 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on GM Q1 $4 Billion. Net $2.9B - Half Full or Empty?

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General Motors (NYSE: GM) today reported Q1 net earnings of $ 2,939,000,000 on $11 billion in revenue, with a Net Income margin of 8.2%, down 1.1 ppts. GM’s Q1 market share was 9% on sales of 1.4 million units. Market share was down YoY due to semiconductor shortages and availability of dealer inventory.

Increased production and robust customer demand from the Biden Administration recovery in North America played a significant part in a decent (So-so? It was basically the same as last year.) financial performance that nonetheless was down for shareholders – at $1.35 per share, off $0.68 compared year-over-year. Consider: For Q1 2022 Tesla reported $3.22 earnings per share, and revenue of $18.76 billion. Vehicle sales were 310,048. Moreover, Tesla reported  record automotive margins of 32.9%.

Continue reading →

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Kentucky Derby – BMW to be First Luxury Auto Sponsor

Posted on 26 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Kentucky Derby - BMW to be First Luxury Auto Sponsor

The German version of racing silks?

BMW of North America announced today it will be the first-ever “official luxury automotive partner” of the Kentucky Derby, taking place from May 5-7, 2022 at Churchill Downs Racetrack in Louisville, KY. This will include the first public display of the all-new BMW 7 Series, including the fully electric BMW i7 EV.

Additional paid advertising and marketing elements will include BMW as presenting partner of the American Turf Stakes race on Kentucky Derby day, a brand display at the VIP entrance and “The Ultimate Macaron Bar” at Taste of Derby. BMW will also have an interactive product display located at the main entrance of Churchill Downs. Continue reading →

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Milestones – Production Begins for Ford F-150 Lightning EV

Posted on 26 April 2022 by Ken Zino

Ken Zino of AutoInformed.com on Milestones - Production Begins for F-150 Lightning EVThe electric Ford F-150 Lightning pickup began production today at the Rouge Electric Vehicle Center in Dearborn, Michigan. Ford employees and F-150 Lightning customers attended the “Job 1” event for the first-ever, full-size all-electric pickup to go on sale, arguably the most important launch in Ford Motor’s history since the Model T. The Rouge is also home to another landmark Ford – the Model A. This is also a significant event in the country’s badly needed shift to electric vehicles to save planet earth from the pernicious and deadly effects of burning fossil fuels. (AutoInformed on: EV Pickup! Ford is Betting Lightning Can Strike Twice; Ford Introduces All-Electric F-150 Lightning Pro – Bring Money;  *more below)

Ford Motor, whose existence was tenuous during the Great Recession, is now the top automaker in America in terms of 2021 production, sales of US-made vehicles and employment of hourly autoworkers. The F-150 Lightning is the only full-size electric pickup available now with a starting price less than $40,000. Ford F-Series has been America’s best-selling truck for 45 years running and is second only to the iPhone in revenue among all American consumer products, according to a 2020 study*1. Continue reading →

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Ford Recalls 653,000 F-Series, Expeditions, Navigators for Bad Wipers – 18 Products Affected by Safety Defect

Posted on 26 April 2022 by Ken Zino

Ford Motor is recalling 2020-2021 F-150, Expedition, 2020-2022 Super Duty F-250, F-350, F-450, F-550, and 2020-2021 Lincoln Navigator vehicles. The windshield wiper arms may break, causing the windshield wipers to fail on ~653,000 trucks. Ford has known about the problems since last August. There are no reports of accidents or injuries associated with this safety defect, Ford said in the required NHTSA filing just made public. Parts are not yet available to replace the arms.In an apparent attempt to limits the costs of an expensive recall, Ford will not replace the wiper blades unless they are missing.

During August of 2021, Ford became aware of stripped wiper arm splines on certain Expedition vehicles as the defect was brought to Ford’s Critical Concern Review Group for review (CCRG). “Routine Ford monitoring of field data had identified reports related to driver or passenger wiper arms coming loose, not working, or detaching. Continue reading →

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Rolls-Royce Motor Cars Expands Mentoring

Posted on 25 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Rolls-Royce Motor Cars Expands Mentoring

I suspect that workers once thought they could not or were told to never redesign the Spirit of Ecstasy, let alone produce an EV.

Rolls-Royce Motor Cars in a release from Goodwood today said it is expanding its participation in mentoring through Dare to Dream. The program or programme or scheme in Brit-speak, is “designed to help pupils realize their potential and overcome their personal barriers to success.”

Between now and the end of the current school year, 15 volunteers from Rolls-Royce will act as mentors to Year 9 pupils from Chichester Free School, Bourne Community College and Ormiston Six Villages Academy, all close to the Home of Rolls-Royce at Goodwood. The team, which has grown from ten mentors last year, includes some who took part in 2021 and asked to remain involved. The program is run by LoveLocalJobs Foundation, a community interest company (CIC) that works with schools and leading employers in West Sussex. Continue reading →

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