Archive for the ‘CES’ Category

Faraday Future “Effectively Insolvent,” Says Co-Founder

Battery-carmaker confirms second round of job cuts.

by on Oct.31, 2018

Nick Sampson, (r), one of the Faraday Future founders, is shown with investor Jia Yueting, (l) at the debut of the FF91 concept in January 2016.

The California-based battery-car company Faraday Future is “effectively insolvent,” according to co-founder Nick Sampson who resigned on Tuesday.

His departure comes as the once-promising company prepares for a second round of mass layoffs, a Faraday spokesman advised TheDetroitBureau.com late Tuesday evening. Faraday had already laid off a sizable number of its approximately 1,300 employees last week as it struggled to find enough cash to continue operating.

Breaking News!

“There is a furlough pending,” said spokesman Jacob Brown, adding that Faraday needs to take “drastic measures, but the executive team wants to keep the company running.”

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Detroit Auto Show Moving to June in 2020, Adding Major New Features

Sponsors aim to revive what's been North America’s leading car show.

by on Jul.23, 2018

Toyota Pres. Akio Toyota is shown here revealing the 2019 Camry during this year's NAIAS.

The North American International Auto Show will move from January to June in 2020, a new timeslot that organizers are betting will help revive the flagging momentum of what had long been one of the industry’s most important annual events.

The Detroit Auto Dealers Association had signaled its intention of abandoning its traditional, mid-winter schedule, though a switch to October was also under study. But that would have conflicted with other shows in Europe and Asia, the dealer group’s Executive Director Rod Alberts told TheDetroitBureau.com in an exclusive interview.

We Keep You In the Know!

In a background briefing ahead of today’s official announcement, Alberts said one of the advantages of a summer event is the ability to add new functions that expand beyond the confines of Detroit’s sprawling Cobo Hall convention center. “We realized we have to change the show (and) showcase Detroit, too,” said Alberts, who has been running the DADA for the past 28 years.

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Audi Out: Follows Growing Group of Automakers Abandoning Detroit Auto Show

NAIAS still studying possible date change to revive flagging fortunes.

by on May.11, 2018

Audi has traditionally used the NAIAS for major intros, like the Q8 Concept it debuted in 2017.

Already hit by key defections, the organizers of the North American International Auto Show in Detroit learned Thursday that Audi will also be a no-show in January 2019 – though the luxury arm of Volkswagen Group said it will “continue to evaluate” a return at a later date.

A once-regional event, the NAIAS became the most significant auto show in the U.S., and one of the world’s most widely watched, when it added the “International” designation in 1989. At its peak around the start of the new millennium, Detroit could count on virtually every manufacturer to participate, with some years seeing more than 70 new cars, trucks, concepts and crossovers debut.

Breaking News!

As the industry plunged into recession, things began to change. Some manufacturers, such as Nissan, pulled out temporarily, but others decided to abandon the Motor City event entirely. That included some of the most exclusive marques, like Ferrari, as well as mainstream and luxury brands like Mazda, which was a hold out this past January. Volvo had no corporate presence, though its local dealers did roll a few vehicles into Detroit’s Cobo Hall convention center. Now, it seems, the exodus is turning into a rout. Audi follows Mercedes-Benz, BMW and Porsche in planning to stay home next January. (more…)

Toyota Earnings Jump, Despite Rising U.S. Incentives

Record R&D spending could hurt operating profit.

by on May.09, 2018

Toyota CEO Akio Toyoda is not only pushing for automotive sales growth, but leading the company into the emerging mobility sector.

Toyota saw earnings jump 21% between January and March, the final quarter of its fiscal year, despite having to sharply ramp up incentives in a slowing U.S. automotive market.

The automaker reported a profit of 480.8 billion yen, or $4.4 billion, up from 398 billion yen the year before. Toyota’s sales also rose 2% to 7.58 trillion yen, or $69 billion. For the full fiscal year, it earned 2.49 trillion yen, or $23 billion, a 36% increase, with sales rising 6%, to 29.38 trillion yen, or $268 billion.

Beyond the Numbers!

The strong performance helped highlight the cost-cutting efforts initiated by CEO and President Akio Toyoda, the grandson of Toyota’s founder declaring, “We’ve become a leaner, trimmer company … and in the past year we’ve developed our remaining fat into muscle, so that we’re in a strong position to be more competitive.”

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Production Version of Kia Niro EV Breaks Cover

Timing of U.S. launch unclear.

by on May.04, 2018

The long-range version of the Kia Niro EV will get 236 miles out of a 64 kWh battery pack.

We got a first look at the concept version of Kia’s all-electric Niro model during the Consumer Electronics Show earlier this year. The Korean carmaker has now pulled the wraps off the production model during the Fifth International Electric Vehicle Expo in Seoul.

A quick glance suggests the version that will be rolling into showrooms is a bit more conservative than the CES show car, with relatively conventional lights and bumpers. Perhaps the biggest difference between the Niro EV and earlier versions of the crossover can be seen in the textured, albeit solid, grille – which actually bears more than a passing likeness to the snout on the all-electric Hyundai Kona that debuted at the New York International Auto Show barely a month ago.

Product News!

Kia is being sparse when it comes to offering details about the Niro EV, though it did indicate the battery-electric vehicle will be offered with a choice of two different batteries – at least in some markets – the more powerful, 64 kWh pack will provide enough energy to travel an estimated 236 miles between charges, the 39.2 kWh pack reducing range to around 149 miles.

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BMW Slashing Presence at Euro Car Shows, Could Pull Out of Some

Bavarian automaker shifting resources to alternate events, like CES.

by on Apr.24, 2018

The BMW i Vision Dynamics made its debut at the 2017 Frankfurt Motor Show.

Already planning to skip the North American International Auto Show in Detroit next January, BMW is reportedly planning to sharply scale back its presence at European events like the 2019 Frankfurt Motor Show, according to a German news report, and it could abandon some of those entirely, as well.

The news comes as automakers large and small start to rethink their commitment to traditional auto shows which, the latest thinking goes, don’t generate the bang-for-the-buck they once did. At the same time, manufacturers are being offered a range of new alternatives, whether tech-focused events like CES or even one-brand shows that avoid the need for a carmaker to share the stage with competitors.

Beyond the Headlines!

BMW is planning to slash as much as 75% of its 2019 auto show budget, reports the German business publication Handelsblatt. At the Frankfurt Motor Show, where BMW had previously gone so far as constructing an indoor driving track, it will have just a 10,000 square foot display at the next event down from 36,000 in 2017.

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VW Developing Unique, Premium EV Platform for Porsche, Audi, Bentley

BMW goes the opposite direction, abandoning electric-only platform strategy.

by on Mar.09, 2018

The Porsche Mission E Cross Turismo is just a "study" for now, but expect a production version to follow.

The Porsche Mission E Cross Turismo is one of the big hits of this year’s Geneva Motor Show and while officially a concept vehicle, the battery-electric crossover is expected to soon follow into production the Mission E coupe launching next year.

Both cars will ride on a specially developed platform, dubbed J1. Meanwhile, sibling brand Audi’s upcoming E-tron Quattro battery-car will use the same MLB architecture as its more mainstream models, like the A4, as well as the new Bentley Bentayga SUV.

Electrifying News!

But, going forward, Those three luxury brands are partnering up to develop an entirely new and unique platform they will share for all future electric vehicles, according to a senior company official. Codenamed PPE, for Premium Platform Electric, it will go into all Audi, Bentley and Porsche electric vehicles from 2022 on.

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GM Boosting Bolt EV Production as Demand Surges

CEO Barra asking Congress to expand electric-car tax credits.

by on Mar.08, 2018

There's significant room to expand Chevy Bolt EV production at GM's Orion Assembly Plant.

General Motors plans to expand production of its first long-range battery-car, the Chevrolet Bolt EV, CEO Mary Barra said during an energy conference in Houston.

The Bolt has experienced stronger than expected demand in recent months, some analysts suggesting that is the result of the slow ramp-up of production for Tesla’s own mainstream EV, the Model 3.

Plug In Now!

Demand has also been buoyed by $7,500 federal tax credits that bring the base price of the Bolt down below $30,000. But under the current rules, GM is expected to soon see the credits phase out, something that could cut into demand, leading Barra to say that, “We feel tax credits should be expanded so our customers continue to receive the benefits going forward.”

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Mercedes Dropping Out of Detroit Auto Show in 2019

Auto shows face increasing challenges as automakers look at alternatives.

by on Feb.12, 2018

Daimler CEO Dieter Zetsche and Arnold Schwarzenegger celebrated the debut of the 2019 G-Wagen at this year's Detroit Auto Show..

(This story has been updated.)

Officials with the North American International Auto Show have confirmed that Mercedes-Benz won’t be on hand when the even returns in January 2019, the latest on a growing list of manufacturers who have decided to pull out of the Detroit show.

The news comes as more and more automakers rethink their commitment to both media previews and public says at events like the NAIAS. As TheDetroitBureau.com recently reported, industry planners are looking at alternatives that can more directly target potential buyers while also holding down costs. At shows like the NAIAS it can cost as much as $5 million to stage a 20-minute media preview – even more if the event involves the creation of a one-of-a-kind concept vehicle.

Business News!

“At this time Mercedes-Benz AG will not be exhibiting at the upcoming 2019 North American International Auto Show,” said the German marque in a statement. “Our time in Detroit over the years has been very beneficial for our brand, especially coming off of the world debut of the iconic G-Class. Discussions are underway for future show participation.”

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Henrik Fisker Officially Reveals Autonomous EMotion EV

Danish designer reveals plans for a “menu of mobility” that will later include affordable electrics and driverless shuttles.

by on Jan.12, 2018

The gull-winged Fisker EMotion makes its official debut at the Consumer Electronics Show.

After months of teasers, Henrik has finally pulled the wraps off his latest project, the autonomous EMotion battery-eletric vehicle making its debut at the Consumer Electronics Show in Las Vegas.

The second attempt by the Danish designer to launch his own battery-car company, the EMotion is a stunning, gull-winged sports sedan that reportedly will offer a range of up to 400 miles, even while delivering blistering performance – top speed 161 mph – thanks to a new generation of solid-state batteries.

The Last Word!

The EMotion isn’t due to market until sometime late in 2019. But in an interview with TheDetroitBureau.com, Fisker revealed that he is already working on future products as part of a “menu of mobility” that will include a much more affordable Tesla Model 3 fighter and even a driverless shuttle along the lines of the Toyota e-Palette concept that also debuted at CES.

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