• Tag Archives Personalities

  • Tesla Sets New Records with Q1 Results

    Posted on by admin

    Tesla set another quarterly record for deliveries during the first quarter of 2021.

    As predicted by many, Tesla Inc. set another quarterly record for production and deliveries during the first quarter of 2021 while rolling out another profitable quarter.

    The delivery numbers eclipsed the previous record by more than 4,000 units, coming in at 184,877 vehicles during the quarter. The overwhelming majority of the deliveries were Model 3 and Model Y at 182,847 vehicles – at 140% increase compared to the year-ago number. It’s also a 21,000-plus unit jump compared with the previous quarter.

    The company’s automotive revenue came in at $9 billion, an increase of 75% compared with Q1 2020. Overall, the company’s total revenue came in at $10.4 billion with a net income of $438 million or 39 cents per share. It also reported an adjusted EBITDA of $1.8 billion for the quarter with operating income reported at $594 million with a 5.7% operating margin.

    Big results — again

    Tesla’s Elon Musk is taking on a new role: host of Saturday Night Live.

    Quarter-end and cash equivalents to $17.1 billion in Q1, driven mainly by a net cash outflow of $1.2 billion in cryptocurrency (Bitcoin) purchases, net debt and finance lease repaymenbts of $1.2 billion, partially offset by free cash flow of $293 million.

    “There’s no guarantee that Elon Musk’s appearance on SNL will garner big laughs, but it’s certain that he’s laughing all the way to the bank,” said Jessic Caldwell, Edmunds’ executive director of insights.

    “Tesla had a record-breaking first quarter, and seems to be doing particularly well compared to its more traditional OEM competitors who are starting to flounder in light of the unique market conditions squeezing the industry right now. It’s pretty ironic that as an automaker known for producing computers on wheels, Tesla’s deliveries in a quarter marred by a global chip shortage have proven to be so strong.

    The big numbers came despite the fact the average selling price for one of its vehicles fell during the quarter. However, officials seem almost pleased by that, noting that lowering “the average cost of the vehicles we produce is essential to our mission.”

    The exterior of the new Model S is a little more angular than its predecessor.

    Big sales — again

    The company was quick to note that with production of its Model 3 basically coming from one plant (Shanghai), it is the best-selling premium sedan “in the world.” It outsold its top competitors, the BMW 3 Series and Mercedes E-Class.

    “This demonstrates that an electric vehicle can be a category leader and outsell its gas-powered counterparts. We believe Model Y can become not just a category leader, but also the best-selling vehicle of any kind globally,” the company told investors.

    With the strong performance of those two, production of the 2021 Model S — the vehicle that really started it all — “should start very shortly.” Officials noted that production of the Model Y production rate in Shanghai continues to improve and “two new factories — Berlin and Texas — are making progress. There is a lot to be excited about in 2021.”

    /**/

    /**/


    📂This entry was posted in Uncategorized 📎and tagged

  • Genesis Goes Electric with Electrified G80 Sedan’s Debut in Shanghai

    Posted on by admin
    Genesis G80 EV front

    Genesis is looking to make up some ground when it comes to electrification with the new Electrified G80.

    The Genesis brand is determined to go from catch-up mode to leaving its competition behind. After an initial delay, it’s rolled out an assortment of new SUVs and its now getting into the battery-car game with the launch of the Electrified G80 at the Shanghai Auto Show.

    The name of the Genesis Electrified G80 sedan might confuse some folks, making it sound like the automaker simply stuffed some batteries inside the conventional, gas-powered G8. However, the new model gets a major makeover to ensure it gets the range and other benefits offered by switching to battery power.

    “Today is very special because it represents a variety of firsts for the Genesis brand, not only because this is Genesis’ very first appearance at Auto Shanghai, but also as the first time we are unveiling a new product outside of Korea,” said Jay Chang, Global head of the Genesis brand. “The Electrified G80, the perfect balance of athleticism and elegance, marks the beginning of our journey into the EV market, representing Genesis in the era of electrification.”

    Filling in gaps in the product line-up

    Genesis G80 EV side charging

    Genesis has been on a product roll in the last year or so, but an EV was a hole in the line-up — until now.

    Genesis has been on a roll this past year, expanding its SUV line-up, updating initial sedans, including the gas-powered G80, and rolling out concepts like the all-electric Genesis X coupe revealed last month.

    The one thing missing has been a production battery-electric vehicle, something the automaker has long signaled was in the works — though it also was known to be considering different options, including a crossover, a city car or, as it now turns out, a relatively conventional sedan.

    There are some questions left to be answered, such as what platform the Electrified G80 rides on. Parent Hybrid Motor Group has developed the E-GMP architecture for use on products including the new Hyundai Ioniq 5 and Kia EV6.

    It’s not clear whether it also underpins the Genesis Electrified G80. But the luxury member of the family has clearly found a way to squeeze in plenty of batteries, claiming the BEV sedan will deliver as much as 500 km, or 310 miles, range using the global NEDC standard. That likely would drop to something at or under 250 miles using the U.S. EPA test cycle.

    Quicker charging

    Genesis G80 EV interior

    The interior of the new electric G80 sedan features a slew of technology.

    The powertrain also aims to address concerns about charging times. The Electrified G80’s drive system can flip from 400 to 800 volts, allowing it to plug into the latest public quick chargers. Using the newest 350 kilowatt systems it can go from a 10% to 80% state-of-charge in just 22 minutes, Genesis claims.

    The Vehicle-to-Load, or V2L, system also lets a motorist tap energy stored in the battery to power electric tools or, if need be, appliances should a home suffer a power outage.

    Genesis isn’t ready to reveal specifics about the motor drive system, though it does note the all-wheel-drive system has a “Disconnector Actuator” that lets it switch from AWD to just rear-wheel drive. That suggests there is a single motor mounted, most likely, on the rear axle.

    In Sport Mode, the automaker claims, the Electrified G80 will launch from 0 to 60 in 4.9 seconds.

    Lots of unanswered questions

    While the battery model looks much like the conventional G80, it features a sealed version of the familiar Genesis Crest Grille. That reduces aero drag since there’s no need to send air to cool and feed a gas engine under the hood. The charging port is hidden within the grille’s upper right corner.

    Inside, the automaker switched to sustainable materials, including fabrics made of PET from recycled soft drink bottles.

    Calling electrification “one of the key strategies” for the brand, Genesis said the Electrified G80 will be followed by “additional EV models.” It also said it will share more information about the BEV and plans to bring it to North America “later this year.”

    /**/

    /**/


    📂This entry was posted in Uncategorized 📎and tagged

  • “Zoom Zombies” Are the Driving Dead

    Posted on by admin
    Zoom call

    Too many of these could turn you into a zombie if you have to climb behind the wheel afterward.

    If you’re one of the millions of Americans who have been working from home and spending hours a day in video meetings you might notice it can become difficult pulling your thoughts back together at the end of the day. And if you then have to climb behind the wheel that could prove deadly.

    A new study raises concerns about “Zoom Zombies,” motorists who can’t fully focus on the road ahead after a day of videoconferencing. This may be one of the reasons why in 2020 U.S. highway deaths posted their biggest year-over-year increase in nearly a century.

    “COVID-19 fundamentally changed the way we interact with our vehicles,” said David Timm, founder and CEO of Root Insurance, which raised concerns about Zoom Zombies in its annual Distracted Driving Awareness Survey. “As many abruptly shifted to a virtual environment, Americans’ reliance on technology dramatically increased along with their screen time, causing a majority of drivers to carry this distracted behavior into their vehicles.”

    Covid-19 and the distracted driving pandemic

    rollover crash

    NHTSA estimates that more than 10% of highway deaths stem from distracted driving.

    Distracted driving has become an increasingly serious problem as more and more motorists interact with smartphones and other technology while behind the wheel. Even before the COVID pandemic, the National Highway Traffic Safety Administration estimated that more than 10% of highway fatalities involved distracted driving. Preliminary analysis suggests that has gone up since last year’s lockdowns began.

    The Roots study found 64% of the U.S. motorists it surveyed acknowledging they check their phones while driving. That’s up 2% from last year, and 6% from the 2019 Distracted Driving Awareness Survey. Meanwhile, 53% of the respondents said they check their phones within the first 15 minutes behind the wheel — a 9% jump from 2019 — when they should be trying to shift focus to driving.

    Add the fact that drivers are downplaying the risks. The study found three in 10 drivers don’t see the risk of driving while using a mobile phone. That’s up from 24% just a year ago.

    But the study raised another concern: even when motorists aren’t texting or chatting on their phones, they still might not be paying full attention to the job of driving.

    Lexus Driving Disrupted distracted drivers

    Younger drivers are more likely to have trouble concentrating on the road after engaging in some sort of video conference call.

    The younger the driver, the worse the problem

    Root reports that 54% of the 1,819 adult motorists it surveyed have had trouble concentrating on the road after making videoconference calls with Zoom, Microsoft Meet or some other software platform. The younger the driver, the worse the problem. For Gen Z motorists, 65% reported losing focus while driving, while it was 61% for millennials and 48% for Gen-Xers.

    “The problem with distraction is huge and it’s not just checking e-mail or texting,” said Russ Rader, an executive with the Insurance Institute for Highway Safety. “There’s the risk of cognitive distraction, looking at the road while your thoughts are elsewhere. That zoning out may mean you don’t notice a dangerous situation soon enough to react.”

    Whether you call them “Zoom Zombies” or “Zoombies,” the problem has gained widespread attention, and concern — especially when it comes to driving.

    If it appears drivers has seemingly forgotten how to drive as pandemic-related restrictions eased, it’s because, well, they have.

    “I think computer use, in general, can overload you,” especially after a series of videoconference meetings, said Joan Claybrook, a former NHTSA administrator and longtime auto safety advocate. “After you get into your car you may be operating on auto pilot.”

    Driving skills have atrophied

    That’s all the worse as we emerge from the pandemic, experts told TheDetroitBureau.com. During the last 12 months, most Americans have been driving less and even as roadways begin to look more crowded, “driving skills have atrophied for many people,” warns Sam Abuelsamid, principal auto analyst with Guidehouse Insights.

    “It’s become harder to drive safely because you’re going to forget some of the skills you learned over time,” added Abuelsamid. “It’s not as easy as just jumping back on a bike.”

    While he believes Zoom fatigue is “likely a contributor to the increase in highway fatalities,” how much it contributes is uncertain. What’s clear is that highway fatalities soared in 2020, even as motorists slashed the number of miles they drove.

    Record surge in fatalities

    Preliminary data indicated as many as 42,060 Americans were killed in motor vehicle crashes last year, the National Safety Council reported last month. That was an 8% increase from 2019. That surge occurred even though Americans drove a total of 2.83 trillion miles in 2020. That was a 13.2% decrease from the year before, marking the lowest level of driving by American motorists in two decades, reported the U.S. Federal Highway Authority.

    Traffic fatalities rose in 2020, rising 8%, but the death rate, the number of deaths per miles driven, jumped 24% compared with 2019.

    So, on a per mile basis, the death rate surged by 24% in 2020, the biggest year-over-year increase since 1924.

    Why does “Zooming” take so much out of people? It’s not like sitting around a table for an in-person meeting. Key visual cues are absent, such as body language, while others can overwhelm, according to psychologist Sharon Parker, director of the Centre for Transformative Work Design.

    They tend to be sharply focused, without the normal chit-chat and other interactions that come before — sometimes during — and after in-person meetings, Parker wrote. One result: participants come away struggling to interpret what actually happened rather than transferring attention to what comes next.

    And that may extend beyond the work day to when you’re behind the wheel and should be focusing on the road ahead.

    /**/

    /**/


    📂This entry was posted in Uncategorized 📎and tagged

  • Krafcik Leaves Waymo After Five Years as CEO

    Posted on by admin
    John Krafcik NADA 2018

    Waymo CEO John Krafcik is way gone, announcing his departure and the company’s plans to move the current COO and CTO into the role of co-CEO.

    Add “former” to the title of Waymo CEO John Krafcik, who announced today he’s left the company.

    The former Hyundai Motor America chief spent five years heading up the autonomous vehicle subsidiary of Google, which, according to his farewell on LinkedIn, “was called ‘Chauffeur’ internally.”

    Tekedra Mawakana and Dmitri Dolgov, of whom Krafcik said “having seen their brilliance, vision, and commitment in play for years — I assure you they are very well suited for this,” take over as co-CEOs of the Mountain View, Calif.-based AI-focused company. As is often the case with senior executives, Krafcik will stay on in an advisory capacity.

    “So now, with the fully autonomous Waymo One ride-hailing service open to all in our launch area of Metro Phoenix, and with the fifth generation of the Waymo Driver being prepared for deployment in ride-hailing and goods delivery, it’s a wonderful opportunity for me to pass the baton to Tekedra and Dmitri as Waymo’s co-CEOs,” he wrote.

    Next steps

    Waymo co CEO Tekedra Mawakana

    Waymo named former COO Tekedra Mawakana as its new co-CEO to replace Krafcik.

    Krafcik didn’t offer many details what the future holds, although it could be that he’s uncertain himself. He said he and his wife, Leila, will take a “coupbatical,” which he described as “a refresh period where we look forward to reconnecting with old friends & family, and discovering new parts of the world.

    “After that, we’ve got a few ideas for focus and contribution that we’ll flesh out together and share when the time is right. We’ve already relocated to Austin, Texas, and we look forward to seeing some of you there, or on our travels.”

    Krafcik once headed up Hyundai’s U.S. operations, helping lead the brand through an image renaissance and a period of rapid growth. He even earned the “Automotive Executive of the Year” in 2013. However, his run there ended in late 2013 after the South Korean automaker declined to renew his contract — despite the accolade.

    However, he quickly landed on his feet, taking over as CEO of TrueCar just as the automotive sales and data website was readying to go public. His tenure there was short, however, as he moved on to Waymo, then-Google’s self-driving car project, just a little more than a year later in September 2015.

    Dynamic duo

    Waymo coCEO Dmitri Dolgov

    Waymo CTO Dmitri Dolgov joins Mawakana as co-CEO with Krafcik’s departure.

    As for the company, Mawakana and Dolgov now step into new roles. Previously the COO and CTO respectively, they are described as having “complementary skill sets and experiences.” Due to the nature of their roles, they’re already accustomed to working together.

    Dolgov, who started in autonomy as part of Stanford’s DARPA Urban Challenge team, joined the company in 2009, when it was still referred to as Google’s self-driving car project. Over time, his influence and responsibility grew. He became CTO late in 2016.

    Mawakana, joined­­ Waymo as a policy lead. Prior to joining the company in 2017, she led global policy teams at eBay, AOL, Startec and Yahoo, after beginning her career as Washington, D.C.-based law firm Steptoe & Johnson LLP.

    /**/

    /**/


    📂This entry was posted in Uncategorized 📎and tagged

  • Volts, er, Volkswagen’s April Fool’s Day Prank a Jolt to the System

    Posted on by admin

    Oh those wacky Germans!! As quickly as it got here, VW took it away: Voltswagen is the company that never was.

    A lesson for wannabe pranksters: if you’re planning an April Fool’s Day joke, stick to April 1st.

    That lesson apparently got lost in translation over at Voltswagen, er, Volkswagen headquarters when the company intentionally leaked an “internal document” on March 29 indicating it was planning to change its name as a way to highlight a dramatic, mega-billion-dollar shift to battery-electric vehicles.

    Like so many others, automotive PR departments have often found ways to tweak the media on April 1 and the closer a supposed story hews to reality the better the joke — though news veterans have learned to tread cautiously with everything they see that day. VW’s gag, it seems, gained credibility because of the timing, even though it would have generated major skepticism had it come out two days later.

    But “There will be no renaming of Volkswagen of America,” the company now says after receiving numerous angry calls from those fooled by the supposed name change — including, we will admit, TheDetroitBureau.com.

    Good one, guys … good one

    Volkswagen of America chief Scott Keogh, left, and VW AG CEO Herbert Diess share a laugh, knowing what was going to be unleashed on the U.S. media.

    As readers will note, we did question whether this was part of a short-term marketing campaign, rather than a real, permanent name change. After all, other companies have taken similar steps. IHOP in 2018 announced it was becoming IHOB, a short-lived switch, it turned out, to promote the fact it offered more than just pancakes for breakfast.

    Indeed, the stunt was intended to highlight the launch of the Voltswagen, er, Volkswagen ID.4, the carmaker’s first long-range battery-electric vehicle targeting the U.S. market. It began rolling into American showrooms this month.

    “The alleged renaming was designed to be an announcement in the spirit of April Fool’s Day, highlighting the launch of the all-electric ID.4 SUV and signaling our commitment to bringing electric mobility to all,” said a statement from VW released the day after the rouse, 36 hours before April Fool’s Day.

    The right amount of credibility for a fake release

    The thread of credibility was, in fact, there for at least a short-term use of the name Voltswagen. The German company is going all-in on electrification, committing to spend more than $80 billion to bring at least 50 all-electric models to market by mid-decade. Its high-line Bentley brand will only sell battery-electric vehicles by 2030 and while the flagship VW brand hasn’t committed to going completely BEV, global CEO Herbert Diess has strongly hinted that is in the works.

    VW ID.4 driving

    Volkswagen has designated $86 billion to bring more than 50 EVs to market in the next few years, including the ID.4.

    “We have said, from the beginning of our shift to an electric future, that we will build EVs for the millions, not just millionaires. This name change signifies a nod to our past as the peoples’ car and our firm belief that our future is in being the peoples’ electric car,” said the fake VW release, purportedly quoting Scott Keogh, president and CEO of Volkswagen of America.

    VW already did adopt a new name for its electric vehicles. They are being grouped together under the ID banner. An all-electric hatchback, the ID.3, went on sale in Europe last year. Other models are coming, including the ID.Buzz, a modern, battery-powered take on the legendary VW Microbus.

    Volkswagen isn’t alone, one rival German automaker marketing its BEVs through the new Mercedes-EQ marque, another opting to call its electric models BMW i. And Hyundai just launched a new battery-car sub-brand called Ioniq.

    VW’s reaching out to promote its electrification efforts shouldn’t be surprising. The automaker’s global CEO Herbert Diess declared a goal of becoming the world’s leading EV manufacturer, his goal to “overtake” today’s top seller, Tesla.

    Whether the Voltswagen stunt will short-circuit the launch of the ID.4 isn’t certain. But wary journalists are likely to be far less willing to get charged up the next time a VW press release arrives.

    /**/

    /**/


    📂This entry was posted in Uncategorized 📎and tagged

  • Bow. Wow! One-Bow Design Takes Mercedes EQS in an Entirely New Direction

    Posted on by admin
    Mercedes EQS with Thomas Kuppers

    The new Mercedes-Benz EQS battery-electric sedan makes its formal debut April 15.

    One thing’s for sure: there’ll be no mistaking the new Mercedes EQS sedan when it rolls down the street.

    Think of the EQS as the all-electric alternative to the German automaker’s familiar S-Class flagship. But you clearly won’t confuse the two when it reaches showrooms in autumn. Some new battery-electric vehicles share the same design language as conventional, gas-powered products. With EQS, Mercedes goes off in an entirely new direction, one it’s been hinting at with concept vehicles like the 2019 Vision EQS.

    The production model adopts what the automaker calls a “one-bow” design. It takes the look of the coupe-like Mercedes CLS to extremes. The result could have rolled off the set of a sci-fi film. But there are practical benefits in terms of range and interior roominess, as well.

    “We said we have to go further” than just packing batteries into a conventional looking product,” Steffen Kohl, Mercedes’ director of advanced exterior style, said during a media webinar. The EQS “carries the future of Mercedes-Benz,” he added, noting the “one-bow” language of the EQS will strongly influence other products to come from the new, all-electric Mercedes-EQ sub-brand.

    Plenty of power and range

    Mercedes EQS with Robert Lesnik

    Robert Lesnik led the exterior design effort for Mercedes new EQS battery-electric sedan.

    EQS rides on a skateboard-like platform, mimicking virtually all new battery-electric vehicles. Its batteries, motors and other key electrical components sit below the floorboards.

    The automaker will reveal full powertrain details during a formal unveiling April 15. But EQS uses twin motors, one on each axle, drawing power from a 108 kilowatt-hour battery pack. That provides about 435 miles of range using the European WLTP test cycle. The EPA rating should come in somewhere about 350 miles, according to industry observers.

    The layout moves the sedan’s wheels close to the vehicle’s corners. It also frees up space where a traditional gas or diesel engine would be mounted, providing significant flexibility to the Mercedes design team.

    Shorter wheelbase, longer cabin

    The cab-forward design features a short nose, the angled, one-piece aluminum clamshell hood rising aggressively to flow into a steeply raked windshield. Instead of a traditional, two- or three-box layout, the look is like that of a single bow line, explained Robert Lesnik, who led the exterior design effort.

    The Mercedes-Benz Vision EQS concept provided a framework for the company’s new electric luxury sedan.

    “EQS will be the world’s best production car ever in terms of aerodynamics,” with a drag coefficient of 0.20 significantly better than even the sleekest of today’s supercars, he explained.

    The effect “looks optically lower than it is,” Lesnik added.

    The front end features a new grille with “abstracted, three-dimensional star pattern(s),” according to Mercedes. It’s framed by slit-like headlamps flowing into the front quarter panels.

    “When people ask why we need a grille anymore,” Lesnik explains that it is “not an air intake. It’s a face.”

    “Coming from the future”

    The side panels lack the normal creases found on conventional Mercedes models, though the greenhouse does pinch in towards the trunk, giving the EQS a sense of muscularity.

    Mercedes-Benz EQS interior

    The new EQS features Mercedes’ newly introduced Hyperscreen technology.

    Around back, the most distinctive feature is a light band connecting what Mercedes calls “curved, 3D helix” taillamps.

    From nose to tail, the new EQS measures 5.2 meters, or 204.7 inches. That’s about 3.5 inches shorter than the U.S. version of the latest Mercedes S-Class. But the electric sedan has more room for four passengers, its cabin pushed forward into what would normally be the engine compartment.

    As distinctive as the exterior might be, the interior takes things even further, said Peter Balko, who oversaw development of the cabin. “We wanted our interior to be modern,” he explained, “as if coming from the future.”

    Buyers will have numerous options

    Buyers have several key options to choose from. The showpiece layout uses the new hyperscreen concept first shown on the latest S-Class. It features a seamless digital cluster running the entire width of the instrument panel. The organically shaped glass blends three different displays, starting with the digital gauge cluster, the touchscreen infotainment screen and a separate display for the front passenger.

    Mercedes-Benz EQS gauges

    The gauge cluster on the new EQS is configurable based on the wants of the driver.

    EQS offers a digital gauge cluster and a large, free-floating, Tesla-like infotainment screen for those seeking a more conventional look. The space in front of the passenger can be outfitted with an assortment of different woods and fabrics and even a version of the Star Pattern grille.

    The EQS will “touch almost all of your senses,” said Kohl. Among other things, the product development team has come up with three distinctive, user-programmable “soundscapes.”

    Sounding off

    While battery cars aren’t entirely silent, they are significantly quieter than vehicles with conventional internal combustion engines. Motorists can enjoy the lack of noise or they can opt for one of the soundscapes, “depending upon the emotions of the moment,” said lead sound engineer Thomas Kuppers.

    • Silver Waves is meant to be soft and soothing;
    • Vivid Flux is “shimming and explosive,” a bit “techie but (with) warmth,” said Kuppers; and
    • Roaring Pulse is “pretty raw, with “the growl of thunder,” especially under aggressive driving.

    “We haven’t finished yet,” Kuppers added, noting that, “There will be new soundscapes over the life of the vehicle that we will download through over-the-air updates.”

    The new EQS will borrow from the conventional S-Class by also appealing to the sense of smell, Mercedes officials noted. The new BEV will have the ability to inject scents into the cabin, including some designed specifically for the new model.

    /**/

    /**/


    📂This entry was posted in Uncategorized 📎and tagged

  • GM Grows Board of Directors’ Diversity with New Whitman, Tatum

    Posted on by admin

    Meg Whitman, a technology leader and former head of Hewlett Packard Enterprise, will join the General Motors Board of Directors.

    What was already the most diverse board of directors in the automotive industry just go a little more so, General Motors Co. expanding its board, adding Meg Whitman and Mark Tatum to fill the spots.

    The move grows GM’s board from 12 to 13 members. Adding Whitman, a former Republican gubernatorial candidate in California and CEO of Quibi Holdings LLC, a media startup, results in women filling seven of the posts on the board. It makes GM the only automaker where women comprise a majority of the board.

    Tatum, who is of Asian and African-American heritage, is the National Basketball Association’s deputy commissioner and chief operating officer. Diversity within the company has been a priority for Chairman and CEO Mary Barra since her appointment in 2013.

    Diversity is a strength

    GM quickly pointed out that the diversity of the company’s newly expanded board isn’t just limited to gender or ethnic background.

    Diversity has been a theme during Mary Barra’s tenure as GM’s Chairman and CEO.

    The company’s 12 independent directors have senior leadership and board experience in information technology, digital commerce, retail, higher education, investment management, international affairs, defense, transportation, cybersecurity, and pharmaceuticals, among others.

    “Our diverse Board of Directors is a competitive advantage for GM as we work to deliver a better, safer and more sustainable world,” said GM Chairman and CEO Mary Barra. “Mark and Meg will bring unique experiences to the Board, especially in technology, brand building and customer experience that will help us drive value for shareholders and other GM stakeholders now and into the future.”

    Diversity is a focus in the company’s executive ranks as well. Barra’s overseen a significant shift of women into higher level roles at the company during her tenure. Some of those include Dhivya Suryadevara as Chief Financial Officer, the first-ever woman to hold the job, and Alicia Bolder Davis as the Head of Global Manufacturing.

    Others include Ann Cathcart Chaplin, corporate secretary and deputy general counsel; Margaret Curry, vice president, Tax and chief tax officer; Julia Steyn, head of urban mobility and Maven; Kimberly Brycz as senior vice president, Global Human Resources; and Pamela Fletcher, vice president, Global Electric Vehicle Programs. Both Boler Davis and Suryadevara left the company for other opportunities in the last 18 months.

    Results are showing

    Mark Tatum, deputy commissioner and chief operating officer of the National Basketball Association, will join the General Motors Board of Directors.

    The push to diversify, at least by gender, is beginning to get noticed. GM was the top ranked company in the U.S. on the Gender Equality Global Report & Ranking for 2021. It was No. 5 globally, with a score of 71%, up from No. 11 and a score of 68% last year. GM was the only automaker in the Top 100.

    Researchers noted GM achieved gender balance at the board level (at the time the report was issued, there were six women on GM’s board). Additionally, women represent 20% of the executive team, 32.2% of senior management and 21.8% of the workforce.

    “They offer a living wage and flexible work arrangements to their employees. General Motors is the only company in the U.S. and globally that publishes a mean, unadjusted gender pay gap of less than 3% in all pay bands, and they have a strategy to close the gender pay gap. General Motors also publishes all eight of Equileap’s recommended policies that promote gender equality,” the report noted.

    It is compiled by Equileap, a data research firm, which researched 3,702 companies based on 19 gender equality criteria, including gender balance from the board to the workforce, as well as the pay gap and policies relating to parental leave and sexual harassment. The average score for the Top 100 companies globally was 64 percent, an increase of 2 percentage points from last year.

    Other automakers making moves

    Alexandra Ford English has been nominated for the Ford Motor Co. board of directors.

    GM’s top domestic rival, Ford Motor Co., currently has three women on its board of directors and nominated a fourth, Alexandra Ford English, daughter of current Executive Chairman Bill Ford Jr., who is virtually assured of election to the board later this year.

    Ford English, 33, recently accepted another board position that elevated her profile. She took on the role as Ford Motor Co.’s representative to the Rivian board of directors. Ford Motor owns an equity stake in the EV maker. She’s held roles in corporate strategy at companies like Tory Burch and Gap Inc. as well as the automaker, which she joined in 2017.

    The company’s global workforce is 28% female and 20% of its leadership comprises women. Some of it is top officers include Joy Falotico, president, The Lincoln Motor Co.; Lisa Drake, chief operating officer, North America; Suzy Deering, chief marketing officer; Dianne Craig, president, International Markets Group; Elena Ford, chief customer experience officer; Cathy O’Callaghan, vice president, Controller; and Kiersten Robinson, chief people and employee experiences officer.

    Falotico, Drake and Deering have all moved into their roles in the last 12 months with the first two moving from other jobs within the company. Deering arrived at the automaker in January from eBay, where she was global chief marketing officer. She actually took over for Falotico, who now focuses solely on running Lincoln.

    /**/

    /**/


    📂This entry was posted in Uncategorized 📎and tagged

  • BMW Launching New i4 EV Three Months Ahead of Schedule

    Posted on by admin
    BMW Chairman Oliver Zipse with iX and i4

    BMW Chairman Oliver Zipse revealed the new i4 alongside the iX — three months early.

    BMW is clearly anxious to regain momentum in the small but growing battery-car market, the Bavarian automaker revealing plans Wednesday to bring the new i4 to market three months earlier than originally scheduled.

    The announcement came hours after BMW provided new details about the launch of another all-electric model, the iX. All told, the luxury brand plans to have electrified options, including hybrids and battery-electric vehicles, available in 90% of the segments it competes in by 2023. And it expects BEVs alone to generate “well over 50%” of its annual sales by 2030.

    “We have a clear roadmap for making the transformation of our industry a real competitive advantage for BMW in the coming years: uncompromisingly electric, digital and circular,” Chairman Oliver Zipse said during the automaker’s annual meeting.

    Early pioneer now playing catch up

    BMW’s Zipse laid out the company’s electrification plans, including BEVs making up at least 50% of sales by 2030.

    BMW was an early pioneer in electrification with products like the all-electric i3 city car and i8 plug-in hybrid sports car. But it has slipped behind some key rivals in recent years, in part, due to internal debate over the approach to take with electrified drivetrains.

    It had been planning to use platforms capable of handling everything from gas and diesel to all-electric but future BEVs now will ride on unique, skateboard-like platforms.

    The transition begins this year, BMW getting ready to start taking orders for both the i4 and the iX, the latter the production version of the iNext concept.

    The i4 will reach showrooms in Germany and some other key markets before the end of this year, a full quarter ahead of the original target. Deliveries of the iNext begin in early 2022.

    They will join the three all electric models the company currently offers, the BMW i3 and iX3 and Mini SE, said Zipse. That will “signalise the start of our technology offensive in 2021: these two all-electric vehicles will set the bench

    2022 BMW i4 annual meeting pic

    The new i4 debuted three months earlier than expected and is part of the company’s “neuer klasse” of vehicles.

    mark for BEVs going forward,” the BMW chairman said in a statement.

    The “Neue Klasse”

    By 2023, BMW expects to have “around a dozen fully electric models” in production worldwide, he added. It also will have various hybridized products.

    In the “third phase” of its electrification program, BMW will launch what it described as the “Neue Klasse,” or New Class, of vehicles. These are expected to use an entirely new platform developed specifically for all-electric products.

    Additionally, they will use a “completely redefined” electrical and software architecture, “a new generation” of batteries and electric drivetrains, and will adopt a “radically new approach to sustainability across the entire vehicle life cycle.”

    BMW said it is taking steps to ensure that the entire manufacturing process of future products will be more environmentally friendly, starting from the mining of raw materials. That it will put a premium on recycling of critical materials such as the lithium in its batteries, while turning to renewable energy to power its factories.

    BMW iX - driving

    The BMW iX uses a two-motor setup to put out 500 horsepower and is expected to travel 300 miles.

    Other BMW brands going electric, too

    While Wednesday’s announcement primarily focused on the flagship BMW brand, the automaker noted that its British-based marque, Mini, is set “to become a fully electric brand by the early 2030s.”

    Last September, Rolls-Royce CEO Torsten Müller-Ötvös revealed that the ultra-luxury brand is working on its own BEV. It is under pressure to electrify at several levels, archrival Bentley itself planning to go completely electric by the end of this decade.

    Bentley parent Volkswagen AG is accelerating its overall electrification program with a goal of being the industry leader by the middle of this decade.

    Its own high-line brands are rapidly shifting to battery propulsion, including not only Bentley but also Audi and Porsche. Industry observers question whether that could force BMW to move even faster than the plan it outlined Wednesday.

    BMW with its joint venture partner Brilliance is charging ahead with iX3 production in China.

    Like its rivals, BMW acknowledged it has ramped up spending on its electrification program. That is expected to strain industry profits in the coming years, according to various analysts. Complicating matters, the higher production costs have made it difficult to maintain traditional profit margins on BEVs.

    Making money on EVs

    But Zipse was optimistic about BMW’s finances, despite the increase in R&D and related spending. If anything, the company’s statement said that, “Despite the volatile situation brought about by the global spread of coronavirus, the BMW Group expects business to develop positively and the risk situation to remain stable in the financial year 2021.”

    If anything, the automaker described “electric mobility” as “a key growth driver in 2020.” It sold 192,662 battery-based vehicles last year through the BMW and Mini brands, a 31.8% year-over-year increase. In Europe, it added, those hybrids and BEVs now account for a full 15% of total sales.

    /**/

    /**/


    📂This entry was posted in Uncategorized 📎and tagged

  • GM Inks New Deal with Innovative EV Battery Maker

    Posted on by admin

    GM’s next-gen lithium metal batteries, the expected energy density increase may mean higher range in a similarly sized pack or comparable range in a smaller pack.

    General Motors continued its charge to develop better batteries, announcing its partnership with lithium metal battery startup SolidEnergy Systems.

    The company, also known as SES, is working on technology that would reduce the size of EV batteries while increasing driving range of the vehicle they’re used in. GM officials have long discussed the need to reduce battery costs, another factor in the production of electrified vehicles is weight.

    Batteries are heavy and developing and using a smaller battery equates to weight savings, helping to further expand the improved range afforded by the batteries SES and GM are working to create.

    Lighter, farther, cheaper

    GM says its lithium metal battery with a protected anode offers the Big Three of EVs: affordability, high performance and energy density. The initial prototype batteries have already completed 150,000 simulated test miles at research and development labs at GM’s Global Technical Center in Warren, Michigan, demonstrating real-world potential, the company revealed.

    GM announced a joint development agreement with lithium metal battery innovator SolidEnergy Systems.

    The automaker isn’t just working with SES to bring lithium-metal batteries to fruition, but several other companies as well. However, it does have a history with SES, investing in the company six years ago through its GM Ventures arm.

    This new deal is the next step in that collaboration, and as part of that progression, GM and SES plan to build a manufacturing prototyping line in Woburn, Massachusetts, for a high-capacity, pre-production battery by 2023.

    Results mean EVs for all

    “Affordability and range are two major barriers to mass EV adoption,” said GM President Mark Reuss.

    GM’s prototype lithium metal batteries were developed at the company’s research and development labs in Warren, Michigan.

    “With this next-generation Ultium chemistry, we believe we’re on the cusp of a once-in-a-generation improvement in energy density and cost. There’s even more room to improve in both categories, and we intend to innovate faster than any other company in this space.”

    The goal is to incorporate these smaller, more powerful and less expensive batteries as part of the Ultium Platform that will be the basis for a slew of new EVs coming from the auto company. The first of those, the GMC Hummer hits the road this year.

    GM is working to complete its $2.3 billion plant to build the Ultium batteries in partnership with South Korea’s LG Chem. The pair is setting up shop in Lordstown, Ohio. Officials recently revealed two more plants could be in the works. The first would be near GM’s plant in Spring Hill, Tennessee.

    The company is investing $2 billion at that facility to prepare it to produce Cadillac’s first-ever all-electric model, the Lyriq. GM is investing $27 billion in electric and autonomous vehicles with plans to have 30 EV models available around the world by the end of 2025. The company declared it would end production of gas- and diesel-powered vehicles by 2035.

    /**/

    /**/


    📂This entry was posted in Uncategorized 📎and tagged

  • New Vehicle Buyers Want Financing Info Before Shopping, Study Shows

    Posted on by admin
    buying online

    New car buyers want to know what kind of financing they qualify for before they head out to the dealer.

    As new vehicle sales rebound from the impact of the COVID-19 pandemic, it appears that more and more potential buyers want to have more certainty about their financing before hitting the dealership sales floor.

    A new study from CarGurus.com, the global online automotive marketplace, shows that shoppers prefer to have some idea about what their financing options are before they head out the door to look at a vehicle.

    In fact, 93% felt that being pre-qualified for a loan would be helpful as they looked to get a good deal on a new ride. The study also showed that buyers aren’t as well as informed about their options as they could be. Although better than nine out of 10 wanted to be prequalified, a third didn’t realize they could do just that, and only half actually did get tentative approval for financing beforehand.

    Improving the shopping experience

    “Our research found that consumers are eager to purchase a vehicle in a similar fashion to buying a home, and they want know more about financing for this major purchase in advance instead of treating it as an afterthought,” said Madison Gross, director of Customer Insights at CarGurus.

    People want more information about financing, and are missing out on helpful tips when it comes to the purchase of a new vehicle.

    Pre-qualifying for auto financing gives shoppers more confidence, with 68% of believing that doing so would help them feel more confident and prepared to talk to dealers about financing, and 66% found value in pre-qualification because they wanted to complete more of the shopping process before visiting the dealership.

    Other findings included:

    • 46% of shoppers are concerned that their pre-qualification rates would not be final;
    • 41% are concerned that they would have to repeat the financing process at the dealership; and
    • 42% of shoppers wished they could see their monthly payment estimates while shopping for a car online before visiting a dealership.

    In addition to asking car shoppers about pre-qualification in advance of visiting the dealership, the study also aimed to learn more about their overall automotive financing knowledge.

    Potential buyers lack education

    The study also discovered that buyers weren’t entirely certain about the processes — and profits — of an auto dealership and how it may impact their experience. For example, shoppers believe that a vehicle’s price drives the most profit for dealerships (45%), while 30% think that auto loans do.

    Additionally, buyers consider different factors when it comes to the loan on their vehicle. For 37%, the monthly

    Buyers securing financing beforehand feel more confident in the buying process.

    payment and interest rate equally mattered most. However, the total price paid over loan life ranked at the top of 18% of buyers’ lists. In 7% of cases, the length of the loan drove their thinking.

    When presented with an imaginary car shopping scenario involving a 5-year loan with 5% APR for a $25,000 vehicle and $5,000 down payment, shoppers believed the following would have the greatest impact on monthly payments:

    • 46% – whether the interest rate increased from 5% to 8%
    • 29% – if the length of the loan increased from 5 to 6 years
    • 24% – if there were no down payment

    “According to the study, there is also a lot of room to educate consumers on the general ideas around automotive finance, which should ultimately provide a better shopping experience for both consumers and dealerships,” Gross said.

    In addition, the study delved into a wide array of similar automotive finance topics, some of which regards ways to improve shoppers’ experiences when purchasing a vehicle.

    /**/

    /**/


    📂This entry was posted in Uncategorized 📎and tagged