Stellantis (NYSE / MTA / Euronext Paris: STLA) has signed a new syndicated revolving credit facility (“RCF”) of €12.0 billion, with a group of 29 relationship banks. This new RCF replaces the existing syndicated RCF’s from the Groupe PSA (€3.0 billion) and FCA Group (€6.25 billion). This provides an increase in the group’s overall liquidity and an extension of the duration of the facility. Continue reading
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Ford Motor said today that it will roll out all-new standard certified cabin air filters called Ford Refresh95, with plans to cover a majority of its lineup by the end of 2023. Ford Refresh95 claims to be an advanced cabin air filter. As air moves through a vehicle’s heating, air conditioning and ventilation system, it aims to help reduce microscopic particles that can originate both inside and outside a vehicle’s interior.
Ford Refresh95 availability is expected during Q4 2021 for some vehicles, including the Bronco Sport, Escape, Explorer, Mustang Mach-E, Police Interceptor Utility and Maverick. Ford says customers won’t need to purchase a new vehicle. People with compatible vehicle will be able to purchase a Ford Refresh95 air filter from their local Ford dealer, starting later this year. Continue reading
A Chevrolet Bolt EV is loaded onto its display stand Tuesday 15 November 2016 in preparation for Automobility LA – the press and trade days preceding the Los Angeles Auto Show in California.
NHTSA says that owners of 2017-2019 Chevrolet Bolt vehicles should park their cars outside and away from homes until their vehicles have been repaired, due to a new recall for the risk of fire. This alert applies to all affected vehicles, even if the owner has had the previous recall repairs completed.
GM has issued a new recall affecting the 50,932 Model Year 2017-2019 Chevrolet Bolt vehicles covered under the original recall announced in November 2020 and revised in May 2021. NHTSA is aware of one fire with the interim remedy and two fires with the final remedy. Due to the risk of fire, vehicle owners should continue to park these vehicles outside, away from structures, and not charge them overnight. Continue reading
General Motors said today it will introduce new Super Cruise1 capabilities on six model year 2022 vehicles during Q1 of 2022. Super Cruise claims to be the industry’s first true hands-free driver-assistance technology allowing drivers to travel hands-free on over 200,000 miles of compatible roads across the U.S. and Canada.
These enhancements will be available on select model year 2022 Super Cruise enabled vehicles, including Cadillac Escalade4, Cadillac CT45, Cadillac CT56, Chevrolet Silverado7, GMC HUMMER EV Pickup8 and GMC Sierra9. Super Cruise will be available on 22 vehicles by 2023, including Cadillac LYRIQ10 and GMC HUMMER EV SUV11. Additional vehicles that offer versions of Super Cruise include the 2022 Cadillac XT612 and the 2022 Chevrolet Bolt EUV13.
GM launched Super Cruise in 2017 with the Cadillac brand and has added capabilities, expanded Super Cruise-enabled routes and availability on more products since then. To date, approximately 10 million miles have been driven by customers using Super Cruise across the U.S. and Canada. (AutoInformed – Autonomous Vehicle Nod – Super Cruise on All Cadillacs; Cadillac to Increase Super Cruise Compatible Highway Network) Continue reading
Mercedes-Benz says it intends to manage this accelerated transformation while sticking to its profitability targets. We will see if that’s possble gvien the investments needed and competitive actions.
Mercedes-Benz is getting ready to go all electric by the end of the decade, where market conditions allow, in a defensive move that attempts to preserve its luxury reputation. This is a sharp reversal from its previous stated “electric-first” to electric-only. AutoInformed thinks it was prompted by runaway global warming and the increasing desire of consumers – and above all regulators and nations of affluent people – to eliminate fossil fuels. Daimler investments into combustion engines and plug-in hybrid technologies will drop by 80% between 2019 and 2026.
The latest indication that the slow walk to CO2 free needs to become a sprint comes from the EU “Fit for 55 in 2030” package to align EU climate and energy policies and ensure the achievement of a more ambitious reduction target of CO2 reduction of 55% for 2030. German politics has recently been roiled by the drowning deaths of its citizens from severe flooding that resulted from climate change. China, the world’s largest new energy vehicle (NEV) market, which is home to hundreds of companies and suppliers specialized in EV components and software technologies, is expected to play a key role in accelerating the Mercedes-Benz electrification strategy. (AutoInformed.com on EU Gets Tougher on Climate Change – Wants All EVs by 2035; Daimler Q2 Results – Group Net Profit of €3,704 million; Daimler Earns €4.0 billion in 2020; New Mercedes-Benz Strategy Aimed to Help Higher Profits) Continue reading
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department of Commerce’s Economic Development Administration (EDA) will implement a series of programs called Investing in America’s Communities to invest the $3 billion it received from President Biden’s American Rescue Plan Act to fund communities for the future. The EDA investment is the largest economic development initiative from the Department of Commerce in decades.
“President Biden’s American Rescue Plan delivered direct relief to the American people and was the first step to energizing the American economy following the devastating impacts of the coronavirus pandemic,” said Secretary Raimondo. “Now, its medium-term investments will allow communities around the country not only rebuild but re-imagine their economy for the future.” First announced on April 14, the plan has faced Republican opposition obstructionism because it apparently helps the working class and is that their usual program of ultra-rich welfare. Continue reading
Argo AI, Lyft and Ford Motor Company said today are working together to commercialize autonomous ride hailing at scale. The collaboration in theory provides all of the ingredients necessary to create a viable autonomous ride hailing service. These include self-driving technology, a vehicle fleet and transportation network needed to support what’s hoped to be a growing business and satisfied riders. (Lyft and Motional to Deploy Fully Self-Driving Vehicles in 2023, Volkswagen, Argo AI to Start Autonomous Driving Tests, Milestones: Volkswagen Completes Promised Argo AI Funding, Ford and Austin Launch Mobility Challenge Program, Ford Smart Mobility, Zotye Ink MOU on Chinese Ride Hailing)
Argo AI and Ford will deploy Ford self-driving cars, with safety drivers, on the Lyft network, as part of a network access agreement, with passenger rides beginning in Miami later this year and in Austin starting in 2022. As vehicles are positioned, Lyft users within the defined service areas will be able to select a Ford self-driving vehicle to hail a ride. “This initial deployment phase will lay the groundwork for scaling operations, as the parties are now working to finalize agreements aiming to deploy at least 1,000 autonomous vehicles on the Lyft network, across multiple markets over the next five years,” the companies claimed.
To support self-driving vehicle deployments at scale, Ford has established a presence in Miami, Austin and Washington, D.C. This includes operations to support commercial fleets, including fueling, servicing and cleaning. Ford says it also has established community relationships, including “working closely with city leaders to provide valuable mobility solutions to meet their unique needs.”
The collaboration is designed to scale autonomous vehicle deployment using market and safety data that helps define where self-driving technology can safely serve consumers. As part of the agreement, Argo will use anonymized service and fleet data from Lyft to overcome the challenges faced by other autonomous vehicle companies by focusing on where they can build a sustainable business and validate deployment through localized safety data. In addition, Lyft will receive 2.5% of the common equity of Argo AI as part of the licensing and data access agreements to collaborate on the safe commercialization of autonomous vehicles.
“Argo and Ford are currently piloting, mapping and preparing for commercial operations of autonomous vehicles in more cities than any other AV collaboration, and this new agreement is a crucial step toward full commercial operations – the addition of Lyft’s world-class transportation network,” said Scott Griffith, CEO, Ford Autonomous Vehicles & Mobility Businesses. “These three companies share a belief that autonomous vehicles will be a key enabler for a cleaner, safer and more efficient urban mobility landscape. This is the beginning of an important relationship between three dynamic companies ultimately aiming to deliver a trusted, high-quality experience for riders in a multi-city large scale operation over time.”
Daimler “expects a gradual normalization of economic conditions in the important markets.
Daimler AG (DAI) today reported its results for Q2, which ended 30 June 2021. The Group’s total unit sales increased by 36% to 736,400 passenger cars and commercial vehicles (Q2 2020: 541,800). Revenue grew by 44% to €43.5 billion (Q2 2020: €30.2 billion). EBIT was €5,185 million (Q2 2020: minus €1,682 million). Adjusted EBIT, reflecting the underlying business, was €5,420 million (Q2 2020: minus €708 million). Net profit was €3,704 million (Q2 2020: net loss of €1,906 million).
However, Daimler assumes that the current worldwide supply shortage of semiconductor components will affect Mercedes-Benz Cars unit sales also in the third quarter. Mercedes-Benz Cars unit sales “could be in the magnitude of the second quarter or below.” Full year unit sales are expected to be at prior year level (previously: significantly above). Continue reading
General Motors is recalling 2015-2016 GMC Sierra 1500, 2500, 3500, and Chevrolet Silverado 1500, 2500, and 3500 trucks. The roof-rail air bag (RRAB) inflator end cap may detach from the inflator, or the inflator sidewall may rupture. A separated inflator end cap or inflator rupture can allow compressed gas to escape, resulting in the end cap or other components being propelled into the vehicle, increasing the risk of injury or crash from what is in effect shrapnel.
This shrapnel recall supersedes NHTSA recall number 20V-736. GM’s number for this recall is N202324251. Parts are not currently available, but when parts are available, dealers are to replace suspect left and right side RRAB modules. GM vehicles included in recall 20V736 (N202309680/N202309681/ N202309682) be closed under that recall number and addressed under this recall campaign. (See also AutoInformed.com on Silverado, Sierra Pickups Recalled Again for Block Heater Fires) Continue reading
It would appear prudent to wear a mask inside.
The Michigan Department of Health and Human Services (MDHHS) said this afternoon that it is coordinating with local health departments across the state to investigate a recent increase in reports of Legionnaires’ disease. Confirmed cases include 19 in Wayne County, 17 in Oakland County and in the City of Detroit and 15 in Macomb County.
As many buildings are currently reopening after extended COVID-19 closures or periods of limited use, this may also create an environment for potential amplification and transmission of Legionella bacteria. Between 1 July 1 and 14 July 107 cases of Legionnaires’ disease have been reported in 25 counties. Continue reading
General Motors is recalling a recall that has now grown to 331,274 2017-2019 Chevrolet Silverado 2500, 3500 and 2017-2019 GMC Sierra 2500 and 3500 vehicles. They are equipped with a Duramax diesel 6.6-liter engine and an optional engine-block heater cord. An electrical short-circuit may occur in the engine-block heater cable or in the terminals that connect the heater cable to the block heater.
The customer may notice smoke or a burning smell and/or poor block-heater performance, tripped circuit breakers or blown vehicle fuses, damage to the block heater, the heater cable, or engine components as well as block-heater coolant pooling under the vehicle. Continue reading
“Increasing access to fast and reliable charging is critical to the adoption of battery electric vehicles.”
Electrify America today announced a deal with Volvo to provide drivers of the all-electric XC40 Recharge and C40 Recharge with 250 kilowatt-hours (kWh) of complimentary charging on what is said to be the nation’s largest open ultra-fast DC charging network. Ultra-fast charging is now available at more than 635 public Electrify America stations and over 2,700 individual ultra-fast chargers coast-to-coast. Drivers can access to the fastest charging technology available today – taking advantage of Volvo’s 150 kW charging capability.
The incentive will apply to first owners of all 2022 XC40 and C40 Recharge vehicles. Additional models and “benefits” will be announced by the Chinese-owned Volvo. Once drivers have used all of their complimentary charging, they will automatically be eligible for Electrify America’s Pass+, said to allow drivers to charge at discounted rates, with membership fees covered by Volvo for an entire year. Continue reading
Riding off into runaway global warming.
Volkswagen of America announced today that it will end assembly of the Passat sedan in Chattanooga with model year 2022, part of the plant’s conversion to build future electric vehicles. In a well-known marketing practice that occasionally works for a dying species, a short-run Limited Edition joins the lineup.
During the second quarter, light-trucks, crossovers and sport utility vehicles (SUVs), were 76.9% of all new vehicles sold in the US market. The segment is expected to continue to move towards an 80% market share. Pickups accounted for 17.6% of sales for the first half of 2021, down from 20.0% compared to the first half of 2020; crossovers represented 45.9% of sales, up from 41.8% one year ago. Continue reading
New chapter of the Opel brand?
Uwe Hochgeschurtz, CEO Renault Germany, Austria and Switzerland, has been named Opel Brand CEO from September 1, 2021. The latest move from Stellantis comes at a time when German brand is attempting to grow in China as the conglomerate is attempting to survive the electrification era. He succeeds Michael Lohscheller who “has decided to pursue a new challenge outside Stellantis.”
Uwe Hochgeschurtz will join the Top Executive Team of Stellantis and will report directly to Stellantis CEO Carlos Tavares. He started his career in the automotive industry in 1990 at Ford, before joining VW in 2001 and Renault in 2004. He studied business administration in Germany (Wuppertal & Cologne), the UK (Birmingham) and France (Paris Dauphine). Continue reading
First Look – Mercedes EQS All-Electric Sedan
By 2030, the subsidiary of Daimler now – belatedly? – wants more than half the cars it sells to have electric drive systems – this includes all-electric vehicles and plug-in hybrids, areas it has been slow to embrace. The new EQS is claimed to be designed to be sustainable. “The vehicles are produced in a carbon-neutral manner, and resource-saving materials such as carpets made from recycled yarn are used. This is because Mercedes-Benz considers the entire value chain, from development and the supplier network to its own production. Mercedes-Benz AG has had its climate protection targets confirmed by the Science Based Targets Initiative (SBTI),” it says.
Continue reading →