BMW i Ventures Buys into Phoenix Tailings

Posted on 30 December 2024 by Ken Zino
Ken Zino of AutoInformed.com on BMW i Ventures Buys into Phoenix Tailings

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BMW i Ventures* announced today an investment in Phoenix Tailings, a inventive metals production company dedicated to creating a zero-waste, zero-emission future. The Series B financing, which was led by Envisioning Partners and included additional participation from Yamaha Motor Ventures and Escape Velocity, will enable Phoenix Tailings to scale its rare earth processing operations to produce ~200 tons of rare earth metals annually. The output can be used in electric motor magnets, batteries, semiconductors,among other applications.

Phoenix Tailings** says it was “founded in Cambridge, Massachusetts  to transform how critical metals are produced – metals essential to the technologies that power modern society.” The nascent firm was heavily subsided by U.S. taxpayers via the United States Departments of Energy and Defense, as well as the State of Massachusetts. With the monies, Phoenix Tailings secured initial off-take agreements, validated its technology to process mining waste, and hired a team of workers to make the metals. Continue reading →

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Kia Recalls 2024-2025 model year EV9s

Posted on 30 December 2024 by Ken Zino

Kia America is recalling ~23,000 2024-2025 model year EV9 vehicles. In the required safety recall filing made public today by the National Highway Traffic Safety Administration, Kia said that the second- and third-row seat mounting bolts may be missing. Affected vehicles were manufactured at the Kia Autoland Gwangmyeong assembly plant in South Korea from 25 September 2023 through 15 October 2024.

“Seats with missing seat mounting bolts may not properly restrain an occupant during certain collisions, thereby increasing the risk of injury,” Kia told NHTSA. “Missing seat mounting bolts are due to plant assembly worker error.” Continue reading →

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Another Ford F-150 Safety Recall – Steering Loss

Posted on 30 December 2024 by Ken Zino

Ford Motor Company (NYSE: F) is recalling ~12,000 2023-2024 model year F-150 Lightning* BEV vehicles, according to mandatory filing documents ( 49 CFR §573) made public by the National Highway Traffic Safety Administration this morning. Ford does not make public its recalls. The Lightning’s front upper control arm ball joint nut may not have been tightened properly, allowing the front upper control arm to detach from the knuckle assembly.

“Certain vehicles may have an improperly torqued nut on the ball joint which secures the front upper control arm to the knuckle assembly. An improperly torqued nut on the ball joint can result in separation of the front upper control arm from the knuckle assembly. Ford told NHTSA. “If the upper control arm ball joint nut is loose or missing, the front upper control arm can separate from the knuckle assembly, which can cause the driver to experience a partial loss of directional control, increasing a risk of a crash,” Ford told NHTSA. Continue reading →

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Hyundai Claims EV Altitude Change Record

Posted on 26 December 2024 by Ken Zino
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Hyundai Motor Company said today that an IONIQ 5 recorded a record-breaking total elevation change of 5802 meters over a +4900 km run across India. The publicity route began in Umling La in Ladakh, through steep Himalaya mountain passes, to the finish in the coastal region of Kuttanad, Kerala. (Read AutoInformed.com on: Hyundai Revises Ioniq EV for 2022 with New Platform)

“We are incredibly proud to see the Hyundai IONIQ 5 create history by achieving the Guinness World Record™ for the Greatest altitude change by an electric car,” said Unsoo Kim, Managing Director, Hyundai Motor India. Continue reading →

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Annals of Marketing – Honda Prelude Returns as Hybrid

Posted on 26 December 2024 by Ken Zino
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Honda has announced that an all-new hybrid-electric Prelude* sports coupe will be re-introduced to the U.S. market late next year, presumably as a 2026 model. The first Prelude appeared in November 1978. This new one will debut Honda S+ Shift, claimed to be anew drive mode that “further advances Linear Shift Control to deliver maximum levels of driver engagement.”

“The return of the Honda Prelude as a hybrid-electric sports model demonstrates our continued commitment to offer a variety of exhilarating products to meet the needs of our customers,” said Jessika Laudermilk, assistant vice president of Honda Auto Sales. “The first three products in the Honda lineup in the 1970s were Civic, Accord and Prelude, and soon all three will be back together again in our passenger car lineup as hybrids.” Continue reading →

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Greetings from the White House Diplomatic Reception Room

Posted on 25 December 2024 by Ken Zino
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Joy to the world.

This fall, First Lady Jill Biden expanded and enhanced the public tour of the White House. The Diplomatic Reception Room, used to welcome foreign dignitaries, and home to President Franklin Delano Roosevelt’s famous fireside chats, is now open to the general public for the first time. Holiday florals and fruit are on display in this room, as a recognition of the importance of hospitality and grace to peaceful diplomacy.

“The holidays have always held a special place in our hearts, and we’ve loved opening the doors of the People’s House wider and wider each year, continuing the spirit of goodwill and gratitude. America’s story is your story, and we hope you feel at home here,” said President Joe Biden and First Lady Jill Biden. Continue reading →

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Ram ProMaster Diesel Engines – CARB Fines FCA $4.2M

Posted on 24 December 2024 by Ken Zino

The California Air Resources Board (CARB) said this week it has reached a settlement agreement with FCA US LLC (FCA) of Auburn Hills, Mich., for $4,185,820 for violations of CARB’s air quality regulations. The FCA vehicles concerned include model year (MY) 2014 through 2016 Ram ProMaster 1500, 2500 and 3500 vehicles equipped with 3-liter inline-4 diesel engines.*

“CARB’s robust compliance testing ensures that auto manufacturers sell the exact vehicles that received certification for sale within California, without alterations made to skirt the state’s regulations and release excess emissions that harm air quality and public health,” said CARB Executive Officer Dr. Steven Cliff. Continue reading →

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Volkswagen Settles – Union Jobs Safe Until 2030

Posted on 24 December 2024 by Ken Zino
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Volkswagen AG (VOW.F) and its IG Metall* and Works Council employee representatives for Passenger Cars, Commercial Vehicles and Group Components as well as its Audi and other brands have concluded a joint agreement – dubbed ‘Zukunft Volkswagen’ (Future) – that guarantees jobs as it reduces production capacities at Volkswagen AG’s German locations. Ultimately, but not now, the workforce will be cut by more than 35,000 at Volkswagen’s German locations by 2030. This includes a newly formulated “job security plan” through to 2030 at the troubled automaker.

“Cost savings for Volkswagen AG of more than €15 billion per year in the medium term,” VW said. “Of this, over €4 billion per year will come from the present negotiations on labor costs, structural and production measures and plant utilization. Labor cost effects alone amount to €1.5 billion per year.” However, the capital markets remain skeptical taking a wait and see attitude about VW’s ability to compete with higher quality and less expensive brands. AutoInformed notes that this is a five-year bet on the come line or the promise that material cost savings will be secured. VW stock closed yesterday at €88.85. A year ago on 23 December it was €93.95. Continue reading →

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GAC Honda Automobile Plant Starts Making EVs

Posted on 23 December 2024 by Ken Zino
Ken Zino of AutoInformed.com on GAC Honda Automobile Plant Starts Making EVs in China

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Honda Motor (China) Investment Co., a wholly-owned Honda subsidiary in China, announced today that GAC Honda Automobile Co., Ltd. (GAC Honda), a Honda automobile production and sales joint venture in China, began operation of its newly-constructed plant for new energy vehicle (NEV) production, named the Development District NEV Factory. The new factory is located in the Guangzhou Economic and Technological Development District in Guangzhou City, Guangdong Province, China. Under communist Chinese industrial policy 50% of the JV is owned by GAC.

The latest NEV production plant has state of the art production equipment to achieve a highly efficient, smart, and low-carbon production system. The stamping and welding processes completely eliminated logistics personnel by automating parts logistics. AI-based welding strength inspection was adopted for the first time at any Honda plant. In the assembly process, approximately 30% of the entire process is automated to achieve a highly efficient production line. Continue reading →

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Hyundai to Give Free NACS DC EV Adapters

Posted on 23 December 2024 by Ken Zino
Ken Zino of AutoInformed.com on Hyundai to Give Free NACS DC EV Adapters

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Starting in the first quarter of 2025, current and new Hyundai EV owners* who have purchased or leased their vehicle on or before 31 January  2025 will be able to request a free NACS adapter (shipping included) through the MyHyundai owner portal, the Korean company said today. The 2025 Hyundai IONIQ 5 is the first non-Tesla vehicle on sale to have a factory-installed native NACS port. [footnote 1] Adapters will also be available for purchase through Hyundai authorized dealers.

“To accelerate EV adoption, we started by listening to our current owners,” said Olabisi Boyle, senior vice president, product planning and mobility strategy, Hyundai Motor North America. “These adapters will make DC fast-charging more convenient for current owners. Plus, the NACS port on new models like the upcoming IONIQ 9 [3] along with improvements to our digital charging ecosystem, will further enhance the customer experience for future EV drivers. Our goal is to make the transition to electric seamless.” Continue reading →

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Nissan and Honda Sign Integration MOU!

Posted on 23 December 2024 by Ken Zino
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Nissan Motor Co. (7201T. NSANY ADR) and Honda Motor Co. (NYS: HMC) have signed a memorandum of understanding (MOU) to start discussions and considerations toward a business integration between the two companies through the establishment of a joint holding company. In effect this will be the merger of the two companies with Honda as the stronger member so to speak given Nissan’s perilous operating results.* It also raises questions about the continuance of Honda’s business ventures with General Motors.* Potentially it creates the world’s third largest automaker with annual sales of ~8-9 million, behind Toyota and struggling Volkswagen.* Mitsubishi Motors has been participating since it is affiliated with Nissan on EV Development.*

“Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future. If realized, I believe that by uniting the strengths of both companies, we can deliver unparalleled value to customers worldwide who appreciate our respective brands. Together, we can create a unique way for them to enjoy cars that neither company could achieve alone,” claimed Nissan Director, President, CEO and Representative Executive Officer Makoto Uchida. Nissan previous attempt at such an arrangement – the star crossed Renault Nissan Alliance was a spectacular failure, to put it mildly. The road to such arrangements is littered with pushed off with wrecks. Continue reading →

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2025 Corvette ZR1 – 2.3 Seconds 0-60 MPH

Posted on 20 December 2024 by Ken Zino
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The 2025 Chevrolet Corvette ZR1 is the fastest car ever built by an American auto manufacturer. At a test track in Germany in October 2024, General Motors (NYSE: GM) President Mark Reuss drove a 2025 Corvette ZR1 233 mph, setting a top speed record for any current production car priced under $1 million.* The Corvette team set this two-way average speed on the northbound and southbound straightaways of the High-Speed Oval Track at ATP Automotive Testing Papenburg. Now building on the marketing campaign, Chevy said this week that a 2025 Corvette ZR1 with 1064 horsepower is the quickest Corvette ever, achieving 0-60 mph in 2.3 seconds ** [footnote 1] with the optional ZTK Performance Package. Clearly waiting is the next event – a Nürburgring run, AutoInformed opines.*

“The 2025 Corvette ZR1 yet again exceeded our expectations,” said Josh Holder, chief engineer, Corvette. “the Corvette ZR1 delivers on its mission to provide customers unrelenting power.” Continue reading →

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EU Car Sales Weak Again in November

Posted on 20 December 2024 by Ken Zino
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During November 2024, new EU car registrations fell by 1.9%. France led with a sharp 12.7% decline, followed by Italy (-10.8%), while the German market (0.5%). stagnated slightly [read AutoInformed on November Western European Car Sales Up]* Among the four most significant EU markets, only Spain recorded positive growth (6.4%), according to data from the European Automobile Manufacturers’ Association, aka ACEA derived from its French name.**

“Eleven months into 2024, new car registrations remained stable (+0.4%), reaching 9.7 million units. While the market in Spain performed positively (+5.1%), declines were witnessed in France (-3.7%), Germany (-0.4%), and Italy (-0.2%),” ACEA said in its monthly sales release. Continue reading →

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Supply Chain Resilience – U.S. DOT Four-Year Review

Posted on 19 December 2024 by Ken Zino
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The U.S. Department of Transportation (DOT) today released a four-year review of the Supply Chains for the Transportation Industrial Base– a new assessment of progress made strengthening supply chains. It’s part of the White House Council on Supply Chain Resilience, which when t was established in January 2021 saw America’s supply chains in poor shape from the COVID-19 pandemic and decades of under-investment.

“In less than four years, we’ve gone from supply chain disruptions unlike anything we’ve seen in peacetime, to much higher levels of resiliency and reliability. That work has helped make it possible to move record levels of cargo in and out of the U.S., bring shipping costs down, and ensure essential goods arrive on time,” said U.S. Transportation Secretary Pete Buttigieg. Continue reading →

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CarMax FY Q3 Net Profit Up 1.2%

Posted on 19 December 2024 by Ken Zino

CarMax (NYSE: KMX) today reported results for the third quarter ended November 30, 2024. Total gross profit of $677.6 million increased  by 10.6% year-over-year (YoY) because of higher volumes and margins. Gross profit per retail used unit was $2306, in line with the prior year’s Q3. Gross profit per wholesale unit  was $1015, up $54 per unit. Extended Protection Plans (EPP) margin per retail unit of $573, was an increase of $53.

“I am pleased with the positive momentum that we are driving across our diversified business model. Our solid execution and a more stable environment for vehicle valuations enabled us to deliver robust EPS growth driven by increases in unit sales and buys, solid margins, growth in CAF income, and ongoing management of SG&A,” said Bill Nash, president and chief executive officer. Continue reading →

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