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EPA Celebrates Inflation Reduction Act Anniversary
The US Environmental Protection Agency (EPA) today is marking what it says is one year of progress implementing President Biden’s Inflation Reduction Act, the most ambitious climate law in U.S. history and a core pillar of Bidenomics and the President’s Investing in America Agenda. Since the legislation was signed into law, EPA has put an historic $41 billion to work to reduce emissions, build a clean economy, lower energy costs for American households and businesses, create good-paying union jobs, and advance environmental justice across the country. Continue reading
M1 Concourse Running Overtime around Woodward Cruise
M1 Concourse said today that it has a new partnership with iHeart Media’s classic rock radio station, 106.7 WLLZ – Detroit’s Wheels. WLLZ will be on-site for live broadcasts during Woodward Dream Cruise. Both organizations have created M1 After Hours. This is a live concert with music from Katmandu, Captured Detroit, and the Brendon Lindsley Band. Family-friendly activities and entertainment are claimed to be a major segment of this show. The Kids Zone, presented by Meijer, will have fun activities for the whole family. Continue reading
BYD builds its 5 millionth EV in China
BYD in Shenzhen, China has built its 5 millionth new energy vehicle – a DENZA N7 – on 9 August 2023 causing it to become the first automaker in the world to achieve this milestone. BYD* spent 13 years producing … Continue reading
Porsche 911 EV Conversion from Sacrilege Motors
“With our Porsche 911 commissions, we’ve set very demanding performance and reliability targets,” claimed Bobby Singh, president and technical lead of Sacrilege Motors. “Fellten hits those targets completely. They build their system like an OEM would – the way it’s engineered, designed and blueprinted – allowing us to focus on the driving dynamics, and on maintaining the soul of these classic Porsche 911s.” Sacrilege declined to comment about costs when AutoInformed inquired. Better if your beach is comprised of precious stones rather than pebbles, we think. Continue reading
Inflation Reduction Act Birthday – Changes Needed
“On the minus side, however, the IRA has no requirements for these massively subsidized companies to do good by their production workers. There are no market-based wage or benefit requirements, nothing that mandates company leaders to pay workers a wage to support themselves or their families – even though the 45X credit on its own is enough to completely cover these companies’ capital investment costs and their total wage bill for the first several years of production. Fortunately, states and communities can take action to ensure this pivotal moment doesn’t turn into another boondoggle for the One Percent, ” said Good Jobs First today. Continue reading
UAW and Big Three Makers – Biden Wants a Fair Deal
The Biden Administration – facing more than its fair share of critics, insurrectionists, white supremacists and election deny-ers, among others – has to be wary of an age-old Democratic party tradition as well. When Democrats form a firing squad, they usually stand in a circle. However, the Administration has proven deft at ducking bullets – remember the UPS strike that was going to upend commerce – widely predicted and welcomed by some on the right? It didn’t happen. And Bidenomics has proven so successful that some of the Republicans who voted against it are now taking credit for the jobs and economic activity it is producing in their home states. So much for the red wave, unless it’s waving good bye to civilized discourse and the common good of We The People. Continue reading
Apple Software Veteran Peter Stern Joins Ford Motor
Ford and other former members of the old-style auto blacksmithing business – cast it, stamp it, weld it, machine it and put it together – has been confronted with the need to cost effectively deal with so-called connected vehicles. The traditional way of pitting suppliers against one another and buying at lowest cost has failed since the software of the many individual computer modules on current vehicles isn’t always compatible with other computerized systems – creating in effect an electronic Tower of Babble. Continue reading
Polaris, Bobcat, Gravely Vehicles Recalled for Fire Risk
Consumers should immediately stop using the recalled vehicles and contact Polaris or an authorized Polaris (Polaris vehicles only), Gravely (Gravely vehicles only), or Bobcat (Bobcat vehicles only) dealer to schedule a free inspection and repair. The dealer will replace the fuel pump or fuel tank, depending on the vehicle type, free of charge. Polaris, Gravely, and Bobcat have notified consumers to stop riding the vehicles and are notifying all dealers and registered owners about this recall. Continue reading
Penske Automotive Group Buys BMW and Porsche Dealerships
Penske Automotive Group, Inc. (NYSE: PAG)* today announced that it has acquired BMW of Wilmington and Porsche Wilmington. The move increases operations in the luxury vehicle segment. PAG forecasts that it will add ~$140,000,000 in revenue annually. (AutoInformed: Penske Automotive … Continue reading
General Motors Canada and Unifor Open Contract Talks
The heads of General Motors Canada and Unifor today opened 2023 collective bargaining for a new labor agreement covering ~4200 hourly workers at Oshawa Assembly Plant, St. Catharines Propulsion Plant and Woodstock Parts Distribution Center. Canada is GM’s third largest market and Unifor members are ~50% GM Canada’s total employment. Ford and Stellantis executives are also working on new collective agreements with Unifor. Confounding business as usual, for the first time since 1999 Unifor and the United Auto Workers Union (UAW) will be negotiating with the so-called Detroit Three concurrently. Continue reading
AC Cars Wins Right to AC Cobra Name
AC Cars, arguably Britain’s oldest active vehicle manufacturer, and Acedes Holdings, have prevailed in a legal challenge from Clive Sutton Limited about the ownership of the AC Cobra name in a London High Court. As a result, AC Cars retains the UK trademark of the AC Cobra name for automobiles, cars and sports cars. Continue reading
Lotus Posts Record H1 2023
Lotus expects to deliver Eletre to UK and European customers later this summer. Lotus expanded its global retail network to 193 stores, opening 24 new outlets during the first half of 2023. Continue reading
Lexus RZ Sport Concept at Monterey Car Week
Lexus will promote the latest additions to its lineup at Monterey Car Week 2023 at “The Quail, A Motorsports Gathering ®.” The Lexus RZ Sport Concept – seen at Tokyo Auto Salon, and the 2024 Lexus LC 500 Inspiration Series. … Continue reading
Honda Q1 FY2024 Profits Double – Stock Split Coming
A 3-for-1 stock split effective September 30th has been approved by management. Calculating on the current number of shares (~165,000,000) , the year-end dividend and the total annual dividend for fiscal 2024 are forecast at ¥75/share and ¥150/share. In current Tokyo trading the stock is up ~6% within ¥30 to its all-time (¥4,723) high posted in 2006. Continue reading
GM Invests in Battery Materials Firm Mitra Chem
The companies will develop advanced iron-based cathode active materials (CAM), such as lithium manganese iron phosphate (LMFP), to power affordable and accessible EV batteries compatible with GM’s EV propulsion architecture, the Ultium Platform. GM’s funding will help Mitra Chem expand its current operations and to “expedite their novel battery materials formulation to market.” Continue reading →