Toyota Selects North Carolina for New Battery Plant

Posted on 6 December 2021 by Ken Zino
Ken Zino of AutoInformed.com on Toyota Selects North Carolina for New Auto Battery Plant

Toyota will use 100% renewable energy at this new plant to produce the batteries.

Toyota Motor North America said today that a new automotive battery manufacturing plant, Toyota Battery Manufacturing, North Carolina will be located in Greensboro-Randolph. By 2025 TBMNC will have four production lines, each capable of delivering enough lithium-ion batteries for 200,000 vehicles. The stated plan is to expand to at least six production lines for a combined total of up to 1.2 million vehicles per year.

The $1.29 billion investment made by Toyota and Toyota Tsusho is partially funded from a total investment of approximately $3.4 billion previously announced in October. The plant is expected to create 1,750 new American jobs. Continue reading →

Tweet
Posted in electric vehicles, global warming, manufacturing, mobility company | Tagged , , , , , | 1 Comment

Hagerty Debuts as a Publicly Traded NYSE Company

Posted on 3 December 2021 by Ken Zino

Hagerty, Inc. (NYSE: HGTY) said that shares of its common stock and warrants will begin trading today on the New York Stock Exchange under ticker symbols HGTY and HGTY.WS, respectively. This results from the completion of the Company’s previously announced business combination with Aldel Financial Inc., a publicly traded special purpose acquisition company. Aldel shareholders approved the business combination at a special meeting held on December 1. Hagerty executives will ring the bell to open the trading day at the New York Stock Exchange on Monday 6 December 2021.

The transaction values Hagerty* at a pro forma enterprise of, gulp, ~$3.1 billion. Net proceeds of ~$265 million, it’s claimed, will be used to advance Hagerty’s growth. Hagerty is self-described as an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market. The firm has been close to the automotive Concourse scene with financial support, particularly in the US. It also sponsors classic car ride-and-drives associated with classic auto shows or events.
 Continue reading →

Tweet
Posted in insurance, milestones, news analysis, people | Tagged , , , , | Leave a comment

First 2022 Toyota Tundra Built in Texas

Posted on 3 December 2021 by Ken Zino
Ken Zino of AutoInformed.com on the 2022 Toyota Tundra

Click to Enlarge.

Production of the 2022 Toyota Tundra started today at Toyota Motor Manufacturing, Texas (TMMTX). TMMTX promoted the official line off of the Tundra and hybrid-powered Tundra that is not due until spring of 2022 as the truck’s first  major model change at the San Antonio plant since it began assembling trucks in 2006. (read AutoInformed.com on:First Look: Gen 3 2022 Toyota Tundra)

In 2019, TMMTX announced an investment of $391 million to prepare for production of the 2022 Tundra, pushing its cumulative investment to more than $3.1 billion. This helped TMMTX prepare for production of the next generation Tundra by expanding its facility by 141,000 linear feet – equivalent to 470 football fields – for un-named new processes and technologies to bring the redesigned truck to customers. Continue reading →

Tweet
Posted in manufacturing, new vehicle | Tagged , , , , , | Leave a comment

Mercedes-Benz to invest €60B to be Electric Only

Posted on 2 December 2021 by Ken Zino

Daimler says using standardized battery platforms and scalable vehicle architectures – with advances in battery technology – will contribute to a reduction in the variable costs of vehicles. This of course sounds like the plan of all major automakers.

Daimler AG’s Supervisory Board today approved the Mercedes-Benz Business Plan for 2022 to 2026. This means that Mercedes-Benz will transform to a fully electric connected car company. After the Daimler Truck spin-off, Mercedes-Benz will focus on growth opportunities in the passenger car and van businesses. By doing so it is hoped that the German luxury can work for leadership in the area of electric drives and car software at a time when the entire industry is pursuing the same aim. (Shareholders Vote to Spin-off of Daimler Truck, Rename Daimler AG to Mercedes-Benz Group; Daimler Truck Receives Investment Grade Ratings)

The Supervisory Board agreed to  an investment plan for the years 2022 to 2026 of more than €60 billion. Mercedes-Benz claims it will reduce capital expenditures, research and development expenses for the electrification of the product portfolio and digitalization processes, including steps towards automated driving, albeit at an admittedly high level. Needed to do this is an increase net revenues per vehicle. In addition, a gradual shift toward a direct sales model, which includes control over pricing, is being sought. Rising revenue from digital services will further support results. Continue reading →

Tweet
Posted in connected vehicles, electric vehicles, mobility company | Tagged , , , , , | 1 Comment

Immunomedics CFO Charged with Insider Trading

Posted on 2 December 2021 by Ken Zino

The Securities and Exchange Commission today charged the former Chief Financial Officer of pharmaceutical company Immunomedics, Inc. and his former romantic partner with insider trading in the company’s stock. 

Herewith the, err, lowlights from the SEC legal action: while serving as CFO of Immunomedics, Usama Malik learned that the FDA had permitted the company to halt a clinical trial for a breast cancer drug because the existing trial data provided compelling evidence that the drug was effective. Malik – who was subject to a trading “black-out” that prohibited him and anyone living in his household from purchasing Immunomedics stock – immediately told Lauren S. Wood, with whom he lived at the time, as well as three family members. Wood and two of the family members then bought Immunomedics stock, as did an account in the name of the third family member’s spouse. Continue reading →

Tweet
Posted in economy, fools 'n frauds, litigation | Tagged , , , , , | Leave a comment

Ford Motor US Sales Up in November

Posted on 2 December 2021 by Ken Zino

Ford Motor appears to be the only major U.S. automaker to report a year-over-year sales increase in November 2021. Preliminary data show an increase of 5.9% compared to November 2020. Retail share totaled an estimated 13.8% or 2.7 percentage points higher than  a weak November 2020. During November, 29 % of Ford retail sales came from previously placed customer orders as the company struggles to manage the semiconductor crisis* that is affecting the entire industry. Initial industry wide data show a 6% y-o-y decline in November, which was better than in the previous two months, but volume fell to 1 million units and the annualized selling rate fell to under 13 million units, according to LMC.

As usual Ford Motor should consider changing its name to Ford Truck. Ford brand SUVs achieved record November retail sales on the success of new products. Sales increased 25.6% y-o-y to a  total of 66,390 vehicles. The Bronco family had its highest combined sales since launch – totaling 19,773 SUVs, which to put it in perspective is less than the output of one assembly plant on an annual basis. Continue reading →

Tweet
Posted in electronics, manufacturing, marketing, sales | Tagged , , , , | 2 Comments

EV Gold Rush – GM, Posco to Build New Plant

Posted on 1 December 2021 by Ken Zino
Ken Zino of AutoInformed.com on EV Gold Rush – GM, Posco to Build New Plant

Batteries work via electro-chemical reactions of lithium (Li) ions that flow back and forth from the positive pole (+) to the negative pole (-) to generate electricity. They are used to power EVs, IT devices and home appliances. Batteries consist of four elements: cathodes, anodes, electrolytes, and separators. POSCO Chemical produces essential materials used in batteries — cathodes and anodes.

General Motors (NYSE: GM) and POSCO Chemical* today said the will form a joint venture to construct a factory in North America to process critical battery materials for GM’s Ultium electric vehicle platform. The joint venture will process Cathode Active Material (CAM), a battery material that represents ~40% of the cost of a battery cell. The location of the facility, which will create hundreds of jobs when it opens in 2024 it’s claimed, will be announced later.

“We are building a sustainable and resilient North America-focused supply chain for EVs covering the entire ecosystem from raw materials to battery cell manufacturing and recycling,” said Doug Parks, GM executive vice president, Global Product Development, Purchasing and Supply Chain. Analysts will not that Korean owned Posco’s operating income and net income have declined in 2019 and 2020. The GM deal – if it works – will be beneficial to the company, which also has close business ties with China. Continue reading →

Tweet
Posted in electric vehicles, electronics, global warming, manufacturing | Tagged , , , , , | 1 Comment

Solid State Batteries: Factorial Energy Parade Adds Stellantis

Posted on 30 November 2021 by Ken Zino

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) and Factorial Energy# announced today the signing of a joint development agreement to advance Factorial’s high-voltage traction solid-state battery technology. The agreement also includes a strategic investment from Stellantis. Mercedes-Benz also has invested in Factorial in what were in effect concurrent announcements. Stellantis announced in July 2021 its target of having the first competitive solid state battery technology introduced by 2026.

Ken Zino of AutoInformed.com on Solid State Batteries – Stellantis Joins the Factorial Energy ParadeSolid-state batteries exist as automotive vaporware currently so all the usual caveats about Forward Looking Statements apply*.They are alluring because of the difference in the use of an electrolyte that is made of solid material instead of the commonly used liquid electrolyte. The electrolyte, of course, is needed to transport ions back and forth between the electrodes when charging and discharging the battery. Solid electrolytes promise enhanced battery safety, as well as the use of new types of anodes, such as lithium-metal anodes. These can provide in theory an almost doubled energy density compared to today’s Li-ion battery cells. As a result, they also promise an increase in range, while at the same time ensuring shorter charging times. (Stellantis Has Lithium Supply Deal with Vulcan Energy; Solid State Batteries Lure Mercedes-Benz to Factorial Energy) Continue reading →

Tweet
Posted in electric vehicles, electronics, engineering, global warming | Tagged , , , , , | Leave a comment

Solid State Batteries Lure Mercedes-Benz to Factorial Energy

Posted on 30 November 2021 by Ken Zino

Mercedes-Benz said today that it is forming a joint venture with Factorial Energy* to develop next-generation battery technology. The actual equity stake Mercedes took in Factorial was not disclosed. The testing of prototype cells is promised as early as next year. The goal of the partnership is to start with the cell and extend development to include entire modules and integration into the vehicle battery. Implicit in the announcement is the need to be able to access the capital markets for what will be an expansive and expensive transformation of the carbon fuel befouled auto industry. (Mercedes-Benz – New Platforms Electric Only From 2025; EV Battery Gold-Rush – GM and Wolfspeed Cut Deal)

Solid-state batteries exist as vaporware currently. They are enticing because of the difference in the use of an electrolyte that is made of solid material instead of the commonly used liquid electrolyte. The electrolyte, of course, is needed to transport ions back and forth between the electrodes when charging and discharging the battery. Solid electrolytes promise optimization of battery safety, as well as the use of new types of anodes, such as lithium-metal anodes. These can provide an almost doubled energy density compared to today’s Li-ion battery cells. As a result, they promise an increase in range, while at the same time ensuring shorter charging times. (Ford Ion Park in Southeastern MI is New Global Battery Center; GM to Invest in New Battery Building to Lower EV Costs) Continue reading →

Tweet
Posted in electric vehicles, electronics, fuel economy or emissions | Tagged , , , , , | Leave a comment

Volkswagen Recalls Atlas SUVs for Sudden Air Bag Explosions

Posted on 29 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on Volkswagen Recalls Atlas SUVs for Sudden Air Bag Explosions

Surprise!

Volkswagen Group of America is recalling more than 50,000 2021 Atlas and 2020-2021 Atlas Cross Sport SUVs for inadvertent airbag deployments. The air conditioning system drain tube could be blocked, causing water to leak inside the vehicle near the air bag control module. If so, water can accumulate and leak inside the vehicle. The water may damage the airbag control module. The airbag warning light may illuminate if a malfunction is detected.

Incorrectly manufactured parts at a sub-supplier, Air International Thermal of Auburn Michigan, for the air conditioning system is the cause of the safety defect. The so-called remedy component is the same part number as the recalled part which has been correctly manufactured. In an apparent attempt to limit the cost of the recall, the recalled part will be repaired if affected, not replaced. The recalled part is the Air Conditioner Evaporator Housing, part number 3QF.820.007. Continue reading →

Tweet
Posted in quality, recalls, safety | Tagged , , , , | Leave a comment

Stellantis Has Lithium Supply Deal with Vulcan Energy

Posted on 29 November 2021 by Ken Zino

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) and Vulcan Energy Resources (ASX: VUL) today said Vulcan will supply battery grade lithium hydroxide in Europe for use in electrified vehicles to the Stellantis Group. The five-year agreement calls for shipments to begin in 2026. Vulcan will supply Stellantis with a minimum of 81,000 metric tons and a maximum of 99,000 metric tons of lithium hydroxide over the five-year term of the agreement. Stellantis says it will invest more than €30 billion through 2025 in electrification and software development (Stellantis Ups Electrification Strategy by $35.54 Billion).

Stellantis also claims – focused firmly on the capital markets required for enormous funding – that it will be 30% more efficient than the industry with respect to total Capex and R&D spend versus revenues. At the moment there is no factory nor a proven process at Vulcan at the scale needed for mass production. Vulcan too need access to the capital markets to survive. (Stellantis New Credit Line €12B Tops PSA and FCA Combined) Continue reading →

Tweet
Posted in electric vehicles, energy, fuel economy or emissions, global warming | Tagged , , , , | 1 Comment

Don’t Aim Holiday Laser-Light Displays at the Sky

Posted on 26 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on Don’t Aim Holiday Laser-Light Displays at the Sky

Click to Enlarge.

The Federal Aviation Administration (FAA) said today that it wants to make sure laser-light displays are aimed at your home, not at the sky. Each year, the FAA receives reports from pilots who are distracted or temporarily blinded by residential laser-light displays. The extremely concentrated beams of laser lights reach much farther than you might realize.

“If we become aware that your laser-light display affects pilots, we’ll ask you to adjust them or turn them off. If your laser-light display continues to affect pilots, despite our warnings, you could face a civil penalty,” said the FAA. The FAA works with federal, state, and local law enforcement agencies to pursue civil and criminal penalties against individuals who purposely aim a laser at an aircraft. It can impose civil penalties of up to $11,000 per violation. Civil penalties of up to $30,800 have been imposed by the FAA against individuals for multiple laser incidents. Continue reading →

Tweet
Posted in aviation, litigation, safety, transportation | Tagged , , , , , | Leave a comment

Renault and TheArsenale Unveil AIR4. What?

Posted on 26 November 2021 by Ken Zino

This is a well-traveled marketing road or is it airway? At the conclusion of the year-long publicity events for the 60th anniversary of Renault4, a concept car was virtually revealed today. The French automaker called it a  reinterpretation of Renault 4L, a car that has sold more than 8 million units in ~100 countries over a period of more than 30 years. (Oshkosh Silliness? First Flying Car Slated for 2019)

The original Renault 4 was a simple, efficient and versatile vehicle built between 1961 and 1992. A “blue jeans” car, as the former head of Renault Group, Pierre Dreyfus, used to describe it. It transported families, businesses and the likes of the gendarmerie and La Poste, as well as helping several generations of young motorists just getting behind the wheel. Now there’s a 4L designed to drive along above our heads. AIR4 claims the air as the new road of the future, according to Renault. Continue reading →

Tweet
Posted in alternative fuels, aviation, electric vehicles, marketing | Tagged , , , , , , | 1 Comment

Daimler Truck Moves Past MB Commercial Vehicles to Wörth

Posted on 26 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on Daimler Truck Moves Past MB Commercial Vehicles to Wörth

The digital archive will be widely available.

With Daimler splitting into two independent companies* on 1 December 2021, Daimler Truck has transferred the first batch of historic Mercedes-Benz commercial vehicles and parts of its truck and bus archive to a location in Wörth. Daimler Truck’s collection contains ~130 vehicles. About 30 were previously located in Stuttgart and the surrounding area.

The classic vehicles and the archive of Daimler AG have been centrally managed in Stuttgart until now. After the corporate split, the Group archive for overarching, company-wide topics pre-separation will remain in Stuttgart along with the archive for cars and vans. The Mercedes-Benz Museum in Stuttgart-Untertürkheim will continue to be the primary publicly-accessible location for the shared company history, including trucks and buses.
 Continue reading →

Tweet
Posted in design and styling, engineering, milestones, transportation | Tagged , , , , , | Leave a comment

Thanksgiving 2021 – We Celebrate Our 401st Annual Feast

Posted on 25 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on Thanksgiving 2021 – We Celebrate Our 401st Annual Feast

There are 27 versions of the flag with stars added as states entered the Union.

General Washington in December of 1777 partied on a day of Thanksgiving after the British defeat at Saratoga during our War of Independence. This war was conducted when we were still a loose confederation of colonies who rebelled, in part, over resistance to taxation of poorer classes needed to pay for foreign wars or entanglements of our government run by a rich, privileged British Monarchy.

The war was won – against all odds by common militias and irregulars. They compelled a superpower British Army to surrender in the field for the first time since the tyrant Napoleon – because the Crown and its privileged generals were fighting an idea first put forth in our Declaration of Independence, then codified in our Constitution that “We the People” would govern ourselves. This WE idea was bigger than a richly privileged class who hired others to fight for them. Now, once again, the courtiers of privilege and wealth – if not the masters of mega-wealth itself – are presiding over our fate using hatred and drummed up grievances on un-social media that omit WE in favor of traitorous behavior aimed at burning Our Constitution via the proud boys of insurrection.
 Continue reading →

Tweet
Posted in AutoInformed Editorial, fools 'n frauds, people | Tagged , , , , , , | 1 Comment