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Tag Archives: Ken Zino
Volvo Cars Posts Q3 Profit of SEK 5.7 Billion off from 6.1B
“However, achieving these ambitions will not be straightforward since the weakness in the market has recently accelerated – a fact also echoed in revised industry forecasts for 2024 and 2025 by third-party analysts. Overall industry demand continues to soften and is now affecting the premium segment. Our journey towards 2026 will not be linear, as our industry is facing an increasingly volatile environment,” said Jim Rowan, chief executive for Volvo Cars. “Macroeconomic headwinds are intensifying, as is geopolitical complexity. Despite these challenges we demonstrated resilience during the third quarter of 2024, which is reflected in our overall financial performance.”
“Given this accelerating weakness in the market and Volvo Cars’ focus on safeguarding value over volume, the company expects minimal volume growth during the fourth quarter. As a result, it now anticipates full-year sales growth of 7-8%, instead of its earlier forecast of 12-15%,” Volvo said. Today Volvo Car AB closed at SEK 22.49, only 0.47% above its 52-week low of 22.38 set on 16 October 2024.
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Posted in auto news, economy, financial results, mobility company, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Chinese EV trade war, Jim Rowan, Ken Zino, VOLCAR B:STO, Volvo Cars, Volvo Cars Q3 2024 earnings, X @KenAutoinformed
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Rolls-Royce 120th Anniversary – Claude Goodman Johnson
Rolls-Royce Motor Cars today in acknowledgement of the marque’s 120th anniversary in 2024 published an overview of the life and career of Claude Goodman Johnson, born 24 October 1864. Johnson was born in Buckinghamshire on 24 October 1864, one of seven children. From London’s St Paul’s School, Claude went to the Royal College of Art. Here, he met Sir Philip Cunliffe-Owen, Deputy General Superintendent of the South Kensington Museum (now the Victoria & Albert Museum), where Claude’s father worked. Through him, CJ secured his first job, as a clerk at the Imperial Institute (now Imperial College London). There, he was put to work arranging exhibitions.
“Johnson is celebrated as ‘the hyphen in Rolls-Royce’ but known to all simply as ‘CJ’. A natural showman with an unrivalled talent for generating publicity, he brought an extraordinary mix of skill, dedication and experience to his role as the company’s first Commercial Managing Director; a fascinating, larger-than-life character and a pivotal figure in the Rolls-Royce foundation story,” Rolls-Royce said. Continue reading
Posted in auto news, design and styling, marketing, milestones, mobility company, shows and events
Tagged Ambrose McEvoy, auto industry commentary, autoinformed.com, Automobile Club of Great Britain & Ireland, automotive blog, Automotive news and analysis, C.S. Rolls & Co, Charles Stewart Rolls, Charles Sykes, Henry Royce, Ken Zino, Le Bureau, Le Rossignol, Lord John Montagu, Phantom Scintilla Private Collection, Roads Made Easy, Silver Phantom, Spirit of Ecstasy, The Silver Ghost’, Villa Mimosa, X @KenAutoinformed
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BMW Group Plants Dingolfing, Regensburg Going Photovoltaic
BMW said today that Group Plants Dingolfing and Regensburg will obtain electricity generated from renewable energy directly from their own roofs. Dingolfing’s rooftop PV system, with a capacity of 11.1 MWp, will be one of the most powerful in Germany. To achieve this objective, the premium automotive manufacturer is renting roof space at its two plant sites in Eastern Bavaria to Sunrock Holding Deutschland GmbH, which will generate electricity using photovoltaics and make it available to the plants under direct supply contracts from 2025 onward.
“With this project, we are not only creating one of Germany’s biggest rooftop photovoltaic systems – we are also promoting the generation of renewable energy directly on site at BMW Group plant locations,” said Nicole Haft-Zboril, head of BMW Group Real Estate Management. Continue reading
Posted in auto news, electronics, energy, environment, global warming, manufacturing, milestones, mobility company, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Georg Brenninkmeijer, Ken Zino, Nicole Haft-Zboril, photovoltaics, renewable energy, Sunrock Holding Deutschland GmbH, X @KenAutoinformed
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Annals of Marketing – Universal Pictures’ Wicked and Lexus
“As a proud partner of Universal’s ‘Wicked,’ Lexus is helping drive audiences to experience the film’s powerful and transformative magic this holiday season,” said Cynthia Tenhouse, vice president, Lexus marketing. “Offering three-row luxury, innovative technology, and plenty of cargo space for extra broomsticks, the Lexus TX is the perfect vehicle for travelers, wherever the road may take them.” Continue reading
Posted in auto news, marketing, shows and events
Tagged Ariana Grande, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Cynthia Tenhouse, Ethan Slater Jeff Goldblum, Hulu, Jon M. Chu, Jonathan Bailey, Ken Zino, lexus, Linear, Marissa Bode, Michelle Yeoh, Universal Pictures’ Wicked, Wicked, X @KenAutoinformed, youtube
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Hemlock Semiconductor to Open New Plant in Michigan
Governor Gretchen Whitmer of Michigan today confirmed that the Biden-Harris administration provided the proposed direct funding of $325 million to Michigan-based manufacturer Hemlock Semiconductor (HSC)*
“HSC is one of many Michigan-based companies that is helping us lead the future of advanced manufacturing. Thanks to the Biden-Harris administration’s bipartisan CHIPS and Science Act and the U.S. Department of Commerce, we are ensuring HSC’s global leadership in the powerful domestic supply chain to manufacture semiconductor chips needed for everything from computers and phones to AI applications. Together, we are strengthening national and economic security by ensuring supply chains, good-paying jobs, and cutting-edge investments are where they belong—here at home. Let’s build the future we all want—one where America leads,” said Whitmer. Continue reading
Posted in auto news, economy, electric vehicles, electronics, environment, manufacturing, milestones, news, news analysis, shows and events
Tagged AB Ghosh, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, CHIPS and Science Act, Gina Raimondo, Hemlock Semiconductor, Ken Zino, Michigan Governor Gretchen Whitmer, Michigan Infrastructure Office, semiconductor chips, X @KenAutoinformed, Zachary Kolodin
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Motorcycle Gang Members Charged with Violent Racketeering
This investigation was an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launders, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks. Continue reading
Posted in blog, motorcycles, news analysis, people, public health, safety
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Chief Estella Patterson Raleigh Police Department, Hells Angels Motorcycle Club, Ken Zino, Michael F. Easley Jr, Nicole M. Argentieri, Operation Broken Halo, Organized Crime Drug Enforcement Task Forces, Red Devils Motorcycle Club, Sheriff Ennis W. Wright Cumberland County, Violent Crimes in Aid of Racketeering Activity, X @KenAutoinformed
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September 2024 Global Light Vehicle Sales Down Slightly
The Global Light Vehicle (LV) selling rate for September stood at 90 million annually, in line with August’s results, according to an analysis just released by the respected GlobalData consultancy.* Looked at year-over-year (YoY), market volumes are continuing to trend downwards as sales volumes were down ~ 4% versus September 2023. Furthermore, YTD sales are now only up fractionally compared to the same period last year.
“In September, sales were down across most regions. Sales in China fell 5% YoY, as the economy faces headwinds and despite the ongoing scrappage incentive. In the US sales fell YoY for the month, with this September having fewer selling days. Finally, sales in Western Europe remained underwhelming, as a weak economy and high vehicle prices dragged on LV market activity,” said the Global Light Vehicle Sales Forecasting Team. Continue reading
DOE Backs Utility-Scale Power Storage In Puerto Rico
The U.S. Department of Energy (DOE) through its Loan Programs Office (LPO) today announced the closing of a $861.3 million loan guarantee to finance the construction of two solar photovoltaic (PV) farms equipped with battery storage and two standalone battery energy storage systems (BESS) in Puerto Rico.
“The project is financed under Title 17 Clean Energy Financing Section 1706. Created by President Biden’s Inflation Reduction Act (IRA), EIR can finance projects that retool, repower, repurpose, or replace energy infrastructure that has ceased operations or enable operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or greenhouse gas emissions,” LPO said. Continue reading
Posted in alternative fuels, economy, energy, environment, global warming, milestones, news analysis, public health
Tagged AES Corporation, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Adminstration’s Inflation Reduction Act, Clean Flexible Energy, DOE Loan Programs Office, Ken Zino, Project Marahu, solar photovoltaic power, TotalEnergies Holdings USA, U.S. Department of Energy, X @KenAutoinformed
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Toyota to Invest in Joby Aviation EV Taxis!
In a quiet, overlooked announcement earlier this month, Toyota Motor Corporation (NYSE: TM) and Joby Aviation( NYSE: JOBY), a company developing electric air taxis for commercial passenger service, announced that Toyota will invest an additional $500 million to support the certification and commercial production of Joby’s electric air taxi. The investment will be made in two equal tranches, with the first targeted to close later this year and the second during 2025. This is part of a trend of traditional automobile companies transitioning to mobility companies on land, the seas, air or space.
“Today’s investment builds on nearly seven years of collaboration between our companies,” said JoeBen Bevirt, founder and CEO, Joby Aviation. “The knowledge and support shared by Toyota has been instrumental in Joby’s success and we look forward to deepening our relationship as we deliver on our shared vision for the future of air travel.” Continue reading
Posted in autonomous vehicles, aviation, economy, electric vehicles, engineering, environment, global warming, milestones, news analysis, shows and events, software defined vehicles, transportation
Tagged akio toyoda, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, electric air taxis, JoeBen Bevirt, Ken Zino, NYSE: JOBY, NYSE: TM, Tetsuo Ogawa, Toyota Ventures, X @KenAutoinformed
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NISSAN ENERGY Charge Network Launches
Nissan announced today an “enhancement “to the MyNISSAN app that claims to simplify EV ownership by consolidating vehicle management and public charging into one app. Users store a default payment method in the MyNISSAN app, then once at a compatible charging station, simply tap an on-screen button to start a charging session within the NISSAN ENERGY Charge Network. This new app will be available to MyNISSAN app users by November 2024.
“Owning and charging a Nissan EV will become simpler and more seamless with the launch of the NISSAN ENERGY Charge Network. The new network allows Nissan Ariya and future Nissan EV drivers to use their MyNISSAN app to find charging stations, see real-time charger availability and pay for charging – all in one streamlined experience,” Nissan said in a release. Continue reading
Posted in alternative fuels, auto news, customer satisfaction, electric vehicles, electronics, energy, global warming, marketing, news analysis, shows and events, software defined vehicles
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, MyNISSAN app, NISSAN ENERGY Charge Network, Nissan Leaf EV, X @KenAutoinformed
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September Western European Diesel Sales Continue to Drop
An analysis released today by the respected GlobalData consultancy* shows that the diesel share of new car sales in Western Europe during September 2024 fell to 11.9% with August confirmed at 13.8%.
“The MoM difference appears significant, and the trend remains negative, but the September figure is influenced by the large UK total market, and the lower-than-regional-average share that diesel occupies within it. This effect typically drags down the European result in September, though in 2023 it was offset by distortions in the German market caused by withdrawal of a key BEV incentive that increased the non-BEV share, including diesel,” GlobalData said. Continue reading
Dodge Charger Daytona Cars to use Solid State Batteries
Stellantis N.V. (NYSE: STLA) and privately held Factorial Energy said today that their partnership to accelerate the development and deployment of next-generation electric vehicles (EVs) powered by Factorial’s solid-state battery technology* will begin with the launching of a demonstration fleet of all-new Dodge Charger Daytona vehicles based on the STLA Large platform incorporating solid-state batteries in 2026. Critics of solid state batteries maintain the thus far valid assertion that there is no clear path to mass production. Perhaps this will alter that perception at some pint in the future. But demonstration fleets are not mass production. Read AutoInformed.com on – Solid-State Cell Technology – All Hype No Production Way? Continue reading →