Archive for the ‘EVs’ Category

Tesla to Hold Musk to a Higher Standard for Compensation

No cash or bonuses unless carmaker hits milestones.

by on Jan.23, 2018

Elon Musk won't receive any compensation from Tesla until the EV maker begins hitting select stock and operational milestones.

With Tesla still struggling with serious production problems and a balance sheet that has been sinking deeper into the red, the battery-carmaker said Tuesday that its billionaire founder and CEO Elon Musk won’t be in line for any form of compensation until it reaches stock and operational milestones.

While investors continue to back the company, its shares rebounding sharply since a deeper-than-expected third-quarter loss was announced last autumn, there has been growing concern about the delays in ramping up production of the new Model 3. That has raised concerns the company might have to raise more capital to compensation for its rapid cash burn.

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“Tesla and all of its shareholders” will have to perform “extraordinarily well before Musk is to receive any form of compensation going forward, the company said. But the announcement also took aim at another concern that some investors and analysts have raised in recent months: whether the South African-born Musk would remain onboard. (more…)

Mazda NAO CEO Denies Toyota Merger Speculation

Toyota deal is just a deal, CEO says. Despite EV growth, gas engines to stay.

by on Jan.22, 2018

Masahiro Moro, Mazda NAO president and CEO, told a crowd in Detroit that the factory deal with Toyota was not a prelude to a merger.

Mazda’s recent partnership with Toyota to produce EVs at a new plant in Alabama is just that — a partnership. Masahiro Moro, Mazda North America Operations president and CEO, told a crowd that Mazda plans to remain an independent automaker for foreseeable future.

Moro, the company’s top executive discussed Mazda’s future during the Automotive News World Congress in Detroit. He also noted that while electric vehicles and fuel cells are important, Mazda believes it can squeeze substantially more fuel savings from its internal combustion engine during the next decade.

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The automaker does not have an EV or even a hybrid in its U.S. line-up, but the U.S. Environmental Protection Agency has named Mazda as the most fuel-efficient brand in the industry five years in a row, Moro noted.  (more…)

Bollinger Eyeing Downtown Detroit for Truck EV

Upstart moving from upstate New York to Motor City.

by on Jan.19, 2018

Bollinger Motors unveiled its all-electric prototype sport-utility/truck in Manhattan last July.

The city of Detroit just received one more affirmation that it is indeed The Motor City as upstart EV truck maker Bollinger Motors announced plans to move its operations from upstate New York to Detroit.

Bollinger founder Robert Bollinger visited Detroit during the North American International Auto Show. While originally searching for property along the I-75 corridor, but after a look around decided moving inside the city limits would be a better plan.

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Bollinger told Curbed Detroit he wants the company to be closer to the people, i.e. the talent, of Detroit, as well as the vendors. The company will move its eight-person team from New York to Detroit later this year. (more…)

PSA Lays Out 3-Stage, 10-Year Roadmap for U.S. Return

CEO calls for “100% electrified” line-up by 2025.

by on Jan.19, 2018

PSA CEO Carlos Tavares has been credited with turning around the near-bankrupt French company.

After a 26-year absence from the North American market, French automaker PSA Group is formalizing plans to reenter the market, though in a series of interviews and appearances in Detroit this week, CEO Carlos Tavares made it clear he’s not in a rush.

With the once nearly bankrupt automaker now flying high in most of its other markets, Tavares outlined a three-stage process that will take as much as a decade to complete. In the meantime, he is focusing on several other critical endeavors, including the revival of the Opel/Vauxhall operations PSA purchased from General Motors last year, as well as a plan that call for the company to have 100% of its products electrified by 2025.

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“When we go into a country we try to be really cautious,” Tavares said during a Thursday roundtable with a small group of journalists, one of several meetings he held in connection with the annual North American International Auto Show. The plan for North America is “more frugal, more humble” and will require only “a small investment,” he explained.

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Porsche Plugging In: Half its Line-up Will Be Electrified

German carmaker looking to expand battery-electric use.

by on Jan.18, 2018

Porsche is moving forward with its newest electric vehicle, the Mission E, as it expands its electrification efforts to half of its line-up.

It will be another year before Porsche’s first pure battery-electric vehicle, the Mission E, finally reaches market, but the German sports car brand already is laying out big plans to electrify.

Fully half of all Porsches will use some form of battery power by 2023, according to a presentation by Porsche Cars North American CEO Klaus Zellmer. That is expected to include not only the hybrids and plug-in hybrids currently in the line-up, but also additional BEVs like the Mission E. Porsche officials have also suggested they will eventually electrify even such classic core models as the iconic 911.

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While such a move might be a stretch for traditional Porsche buyers, the brand has begun bringing in younger buyers who are more open to experimentation, said Zellmer, speaking at the annual Automotive News World Congress. Nearly 80% of the customers who are signing up for the new Porsche Passport subscription service “have not owned a Porsche before,” he noted. (more…)

Hackett Tells Analysts Ford Cutting Car Production

Automaker upping truck and ute production 10% while cars getting 10% cut.

by on Jan.17, 2018

Ford CEO Jim Hackett told analysts the automaker is increasing truck and ute production and cutting cars to better meet customer preferences.

With the overwhelming number of truck and sport-utility debuts and news coming out of the North American International Auto Show this year, it’s not surprising that Ford CEO Jim Hackett appears ready to make an even bigger commitment to that segment.

Hackett told analysts last night the company acknowledged the shift in preferences by U.S. consumers, however, he wasn’t ready to put a final nail in the coffin of passenger cars at Ford.

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That said, he may be grabbing a hammer as he announced the company will be increasing the number of trucks and SUVs in the Ford line-up by 10% while cutting the passenger car portfolio by the same amount. (more…)

Infiniti Will Be “All Electrified” After 2021, Says New CEO

Hiroto Saikawa also hints that Renault-Nissan-Mitsubishi Alliance may seek a fourth partner.

by on Jan.16, 2018

Nissan's Hiroto Saikawa told attendees at the Automotive News World Congress that Infiniti will be electrified by 2021.

Luxury brand Infiniti will rapidly shift away from conventional powertrains and will be “all electrified,” with the exception of some large SUVs by 2021, according to the automaker’s new CEO Hiroto Saikawa.

The auto industry, as a whole is rapidly beginning to electrify as it comes under increasing pressure from regulators around the world. But the plan for Infiniti is one of the most aggressive moves so far announced by any automotive brand with the exception of Volvo which will switch to only hybrid, plug-in or pure battery-electric power for all new models launched by 2018.

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“Infiniti will have a specific focus on electrification,” said Saikawa, who replaced Carlos Ghosn as CEO of Nissan Motor Co. on April 1, 2016. “We are trying to position Infiniti as the premier electrified brand” as part of the five-year plan that will extend through 2022. (more…)

Live From Detroit!

Are Sedans a Dying Breed?

by on Jan.15, 2018

The 2018 North American International Auto Show is making big news this week and revealing some of the significant trends reshaping the auto industry.

Of course, TheDetroitBureau.com is still combing the show floor to bring stories and analysis so keeping checking the site often for additional must-know news and the latest updates. (more…)

GM CEO Barra Wants to Turn a Profit – Soon – on Electric Vehicles

New platform, high volume and cheaper batteries are key.

by on Jan.15, 2018

General Motors CEO Mary Barra recently signed off on a plan to expand the company's portfolio of electric vehicles.

While there are only a handful of long-range electric vehicles on the market right now, you can expect to see as many as two dozen or more in U.S. showrooms by the end of the decade, and several times as many five years from now.

Virtually every major automaker has promised to “electrify” its line-up, and companies like General Motors, Toyota and Daimler AG plan to put a premium on pure battery-electric models. While that may be great news for green-minded auto buyers, there’s a serious flaw in the equation for auto manufacturers, says Woong-chul Yang, the head of R&D for both Hyundai and its sibling brand Kia.

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“Whenever we sell eco-friendly vehicles we all lose money,” the South Korean executive told TheDetroitBureau.com after presiding over the rollout of the new Kia Niro EV at the Consumer Electronics Show last week. “Even battery vendors are losing money.” (more…)

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.

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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.

(more…)