Global Energy/Automotive News to September 30, 2024
London, (Oilandgaspress) ––EU member states are expected to vote on whether to slap hefty tariffs on imported electric cars from China on Friday, European diplomats said on Monday. The European Commission, in charge of EU trade policy, plans to levy additional duties of up to 36 percent on electric vehicles imported from China but the issue has divided the bloc. The tariffs would become definitive for five years after a vote by the EU’s 27 member states that must take place before the end of October.
Electric vehicles that have been flooded with saltwater are being treated as a potential fire hazard in the wake of Hurricane Helene.
Officials are urging those who evacuated and left electric vehicles or golf carts in garages or under buildings to report them if they cannot safely access or move the vehicles.Saltwater exposure can damage the battery components in electric vehicles, potentially leading to dangerous chemical reactions that could cause the vehicle to catch fire. Read More
Stellantis and Orano will not finalize the intended joint venture for recycling end-of-life electric vehicle batteries and scrap, per the non-binding memorandum of understanding announced by the two parties in October of 2023. The two entities are thankful for the collaborative relationship developed over time and are exploring other potential commercial relationships considering the quality of Orano’s recycling process. Read More
Stellantis N.V. today revised its 2024 financial guidance, reflecting decisions to significantly enlarge remediation actions on North American performance issues, as well as deterioration in global industry dynamics. The Company has accelerated its planned normalization of inventory levels in the U.S., targeting no more than 330,000 units of dealer inventory by year-end 2024, from a prior timing objective of the first quarter of 2025. Actions include North American shipment declines of more than 200,000 vehicles in the second half of 2024 (up from 100,000 prior guidance), compared to the prior year period, increased incentives on 2024 and older model year vehicles, and productivity improvement initiatives that encompass both cost and capacity adjustments.
Deterioration in the global industry backdrop reflects a lower 2024 market forecast than at the beginning of the period, while competitive dynamics have intensified due to both rising industry supply, as well as increased Chinese competition.
The Company’s updated 2024 market outlook and financial guidance is as follows:
Adjusted operating income (“AOI”) margin – Expected to be between 5.5 – 7.0% for the FY 2024 period, down from prior “double digit”. Roughly two-thirds of the reduced AOI margin is driven by corrective actions in North America. Other contributors include lower than expected sales performance in the second half of the year across most regions.
Industrial free cash flow – Expected to range from -€5 billion to -€10 billion, from prior “Positive”. This primarily reflects the substantially lower AOI outlook as well as the impact of temporarily elevated working capital in the second half of 2024.
The Company will continue to leverage and expand its competitive differentiators and believes that the recovery actions being put in place will ensure stronger operational and financial performance in 2025 and beyond.. Read More
Stellantis brand vehicle dealers throughout Europe are now playing a greater role in offering consumers clean, safe and affordable mobility by taking orders for Leapmotor fully electric vehicles, with deliveries set for later this year.
The launch of dealer orders is a milestone for Leapmotor International, the 51:49 joint venture between Stellantis and Leapmotor that is focused on growing global sales of high-tech, cost-efficient Chinese new energy vehicles (NEVs) outside of Greater China. The milestone was achieved in just under one year since the joint venture was formed, concurrent with Stellantis investing €1.5 billion to acquire approximately 21% of Leapmotor. Initial markets for Leapmotor vehicles in Europe will be Belgium, France, Germany, Greece, Italy, Luxemburg, Malta, The Netherlands, Portugal, Romania, Spain, Switzerland, and the UK. Leapmotor International plans to expand distribution to Middle East & Africa (Israel and overseas French territories), Asia Pacific (Australia, New Zealand, Thailand, Malaysia and Nepal), and South America (Brazil and Chile) from Q4 this year. Leapmotor launches with two fully equipped models in Europe: The T03, a 5-door A-segment compact car with 265 km of range (WLTP) and the interior space of a B-segment. T03 will be offered starting from 18.900 euros available now. *
The C10, a D-segment SUV with 420 km of range (WLTP) and best-in-class safety, an intelligent user experience, and premium levels of comfort. It uses Leapmotor’s LEAP 3.0 architecture with a centrally integrated electronic configuration, the Cell-to-Chassis system, and a smart cockpit. C10 SUV will be available from 36.400 euros and planned to arrive at respective dealerships in-October. * Both Leapmotor vehicles offer state-of-the-art electric technologies and high levels of performance, efficiency, safety and range at affordable prices, enabled by the Chinese automaker’s high degree of in-house engineering capability and vertical integration. Looking ahead, Leapmotor International plans to launch a new vehicle each year for the next three years. Leapmotor International is targeting Chinese brand vehicles with its offerings. The launch of Leapmotor vehicles in Europe complements and broadens the portfolio of Stellantis brands to cover a full range of customer needs and price points. Alongside this strategic move, Stellantis remains committed to an “asset-light” business model for its foreign brands in China. Read full article
Ford Power Promise:
Home is Where the Charge is: It’s simple. Buy or lease a retail Ford Mustang Mach-E, F-150 Lightning or E-Transit and take a complimentary home charger with you or have it delivered, and when you’re ready, an expert comes out to install it at no charge for a standard install. This takes the guesswork out of installation, including costs, to help you save time and money by filling up at home. Less stress, more convenience. If you’re a Ford Pro fleet customer, we have you covered with a commercial charging cash incentive.
On-the-Road Charging: Road trips don’t happen every day, but when you are on the road, you need to know where to fill up. Our BlueOval Charge Network automatically searches for chargers across various networks, including Electrify America and Tesla Superchargers and adds charging stops to your route via the Connected Navigation in the vehicle. With Plug and Charge, you plug in when you get there, and the payment is automatically made via your FordPass account. It’s that easy.
Battery Confidence: We’re confident in the quality of our batteries, and we want you to be confident, too. That’s why we provide an eight-year/100,000-mile high-voltage battery warranty for every Ford electric vehicle. Ford has your battery covered. Ongoing Support and Guidance: We’re dedicated to providing you with the support you need whenever you need it, including complimentary roadside assistance if your vehicle’s range runs too low. We’re also expanding our 24/7 Ford advisor for electric vehicle support, so you’ll be talking or texting with real people. We are here when you need us. Electric vehicles are an excellent choice for many people. They are fun to drive, quiet and smooth on the road. They can help save you time and money on gas. And for the first time in a long time, filling up just got easier. Now, if I can just get one of my kids to squeegee my windshield. Read Press Release
Porsche Cars Canada, Ltd. (PCL) announced the appointment of Trevor Arthur as its new President and Chief Executive Officer, effective October 1, 2024. Arthur brings considerable automotive business management experience to lead Porsche’s continued growth in Canada, as the subsidiary’s new President and CEO. He comes back to his home country following a period of eight years as Vice President, Area West, at Porsche Cars North America, Inc. (PCNA). He joined the brand in 2008 as a regional manager for PCL and then held the role of Sales Director until 2016. Read Press Release
Bruno Sacco, one of the best-known designers in automotive history, died in Sindelfingen on 19 September 2024 at the age of 90. Born in Italy with German citizenship, he was Chief Designer of Mercedes-Benz from 1975 until retirement in 1999. Read more
Bentley Motors is proud to reveal the fourth generation Continental GT Speed, following in the 21-year tradition of the Continental GT family by redefining the ultimate blend of supercar performance, handcrafted luxury and everyday usability.
A comprehensive exterior and interior redesign with clean modern detailing follow the new design DNA established by the coachbuilt Bentley Bacalar and Batur. Outstanding performance is brought by an all-new Ultra Performance Hybrid powertrain with 782 PS and 1,000 Nm, from a 4.0-litre V8 working in tandem with a 190 PS electric motor. 0-60 mph in 3.1 seconds is the result, with the benefit of 50 miles (81 km) of usable electric-only range (on the EU drive cycle) and a total range of 534 miles (859 km) – creating an everyday supercar.
The performance of the powertrain is matched by a new chassis system, with new two-chamber air springs paired with new dual-valve dampers, along with Bentley Dynamic Ride (48V active anti-roll control), eLSD and torque vectoring. Incredible body control and the best Continental GT ride comfort to date are the results, supported by a 49:51, rear-biased weight distribution for the first time in the car’s history.
Under the skin, a suite of modern innovative technology delivers class-leading capability so that every journey is a seamless experience in terms of driver assistance, infotainment systems and connected car services. Read More
Bentley Luxembourg has marked 25 years in the Grand Duchy with an exclusive musical evening celebrating creativity and craftsmanship. The landmark occasion coincided with the reveal of the new, fourth-generation Continental GT, the first car built around Bentley’s Ultra Performance Hybrid powertrain.
Held at the Bentley showroom in Gasperich-Luxembourg, the special occasion was enhanced with a sensory musical experience from Steinway & Sons. World leaders in the manufacture of grand pianos, Steinway & Sons share the same values of craftsmanship as Bentley, with uncompromising standards of workmanship.
Further creativity and craftsmanship was provided at the celebration event by Bentley’s in-house coachbuilding specialist, Mulliner, the oldest and most respected coachbuilder in the world. Guests were also invited to sample single malt whisky from Bentley Motor’s ongoing collaboration with The Macallan. The Scottish distiller has a legacy of innovation and excellence dating back to 1824.
The ultimate Grand Tourer on display at the event featured the latest Bentley chassis technology, including active all-wheel drive, torque vectoring and four-wheel steering. Delivering 782 PS and 1000 Nm of torque, combined with 50 miles (80 km) of electric-only range and a CO2 figure of under 50 g/km, the new Continental GT is the most powerful, dynamic and sustainable car in Bentley’s 105-year history. Read Press Release
Panasonic Energy Co., Ltd. announced that it has finalized preparations for mass production of the 4680 cylindrical automotive lithium-ion batteries, marking a much-anticipated breakthrough in the industry. The company has also revamped its Wakayama factory in Western Japan, which will serve as the mother factory for the new cells. An opening ceremony was held today to commemorate the occasion. The mass production is set to start after the final evaluation. The 4680, a revolutionary cell format of cylindrical lithium-ion batteries for electric vehicles (EVs),
offers substantial improvements over the conventional 2170 cells. These new cells possess five times the capacity of the 2170 cell. This not only extends the driving range of EVs, but also reduces the number of cells required for the same battery pack capacity. This results in a more efficient battery pack assembly process and ultimately lowers the cost of EVs, making them more affordable to a wider market.
The manufacturing process of the 4680, with its larger capacity per cell, requires more advanced technology and expertise. Leveraging its 30 years of know-how in the development of cylindrical lithium-ion battery technology, Panasonic Energy has pioneered a mass production method for high-performance 4680 cells, setting a benchmark in the industry. The Wakayama factory, a base for the manufacture of lithium-ion battery parts, has undergone a transformation. It will now act as the mother factory for the production of 4680 cells and will serve as a demonstration hub for new products and methods. The factory will play a key role enhancing product quality and competitiveness, with processes newly trialed there set to be implemented globally in other factories. By March 2025, it is expected that roughly 400 staff will be involved in the development and production of next-generation batteries at the Wakayama factory. Read More
Panasonic Holdings Corporation Co., Ltd. is creating an experience at the Panasonic Group Pavilion “The Land of NOMO” at the 2025 Japan International Expo (Expo 2025 Osaka, Kansai, Japan, “Expo 2025”) where children—leaders of the next generation—can be freed from preconceived ideas and assumptions to “unlock” their hidden power and potential through the use of “human understanding” research and “spatial production” technology. The pavilion building was completed1 in August 2024, and the exhibition and interior construction work will proceed toward completion in February 2025, using AR2 to verify the spatial presentation and interior image. At the same time, an animation that conveys the world view of the The Land of NOMO pavilion will be created and released online next spring.. Read More
Lamborghini Squadra Corse and ABT Sportsline will expand its existing strategic partnership from 2025 onwards, fielding a pair of Lamborghini Huracán GT3 EVO2 cars in Germany’s premier motorsport series, the DTM, as part of a long-term deal between the two parties. Unveiled during a special presentation at the Red Bull Ring, venue for the penultimate round of this year’s DTM campaign, the collaboration also brings ABT Sportsline into the family of official Lamborghini factory supported teams from next season.
The Nürburgring 24 Hours will also remain a key fixture in the relationship between Lamborghini and ABT Sportsline next year, having first joined forces in 2023. Earlier this year, the ABT Sportsline trio of Kelvin van der Linde, Jordan Pepper and Marco Mapelli reached top 5 in the 24 Hours, confirming the performance achieved in the second round of the Nürburgring Langstrecken-Serie in which van der Linde and Pepper came a close runner-up back in April. Read More
Aldric Bourgier, Chief Innovation and Development Officer at Babolat and Ranieri Niccoli, Lamborghini’s Chief Manufacturing Officer, debate the shared synergies in creating padel rackets and Lamborghini super sports car The two agree that the speed in which the world is developing and innovating is ‘super exciting’, including in the field of sustainability that is a corporate pillar for both companies, encompassing new manufacturing techniques and materials but ensuring this philosophy is authentic and can be delivered throughout the supply chain. “Greenwashing doesn’t achieve anything and will always backfire,” says Niccoli.
It’s the future, that will see Lamborghini producing the limited edition Babolat BL001 padel racket with further collaborations in the pipeline, that inspire both. “My best memories are of launching prototypes and seeing that our ideas, developed by our teams, deliver something new, fresh, high performing, that is validated by padel players around the world,” confirms Bourgier. Read More
Volkswagen of America, Inc. (VWoA) announced the deployment of generative AI within the myVW mobile app through a strategic partnership with Google Cloud. Volkswagen is leveraging Google Cloud’s industry-leading AI and machine learning capabilities, as well as expertise from Google Cloud Consulting, to power Volkswagen’s new myVW Virtual Assistant and provide vehicle owners with intuitive access to critical vehicle information and services.
The new generative AI-powered Virtual Assistant within the myVW app is currently available to all MY24 Atlas and Atlas Cross Sport vehicle owners, with drivers able to access information and answers specific to their vehicles.
The myVW Virtual Assistant combines Volkswagen’s connected car data with Gemini models on Google Cloud’s Vertex AI platform to deliver low-latency, accurate information to users. Atlas and Atlas Cross Sport owners through the myVW app can use the new Virtual Assistant to explore their owners’ manuals and ask questions such as, “How do I change a flat tire?” or, “What does this digital cockpit indicator light mean?” In addition, myVW app users can use Gemini’s multi-modal capabilities to see helpful information and context on indicator lights simply by pointing their smartphone camera at their dashboards. With the combination of Google Cloud’s Vertex AI and BigQuery, Volkswagen is able to ground and tune Gemini models on multiple data sources, including vehicle owner’s manuals, frequently asked questions from customers, help center articles, official Volkswagen YouTube videos and step-by-step guides. Volkswagen also leveraged Google Cloud Consulting’s expertise throughout the app development process, from design to deployment. This comprehensive support ensures the app not only meets Volkswagen’s specific legal requirements and high standards but also delivers an innovative and user-centric experience. Source,
Volkswagen of America, Inc. announced today that VW part number 00010 ZDK-259-101, VW Gewürz Ketchup Brand, a condiment used to dress VW currywurst, has already been snapped up after becoming available in the U.S. for a limited time. Distributed through DriverGear, the limited supply has already been claimed by the public. Best known for its history of iconic automobiles, the Volkswagen brand has produced and provided food items like the VW currywurst sauce for its German plant employees for decades. Many brand fans familiar with this condiment know it is most famous for being paired with Volkswagen’s currywurst sausage, first created in 1973. Developed by Volkswagen-employed chefs, the official currywurst recipe is a secret known only to a few people. The uniquely spiced sausage is often served chopped into bite-size slices in a bowl and drenched with the sauce. It was Volkswagen’s currywurst—also once sold under an official VW part number—that originally inspired the Volkswagen condiment production, dating back to 1996. Read More
General Motors (NYSE: GM) will release its third-quarter 2024 financial results on Tuesday, Oct. 22, 2024, at approximately 6:30 a.m. ET, followed by a conference call at 8:30 a.m. ET. Financial materials will be available on GM’s Investor Relations website in the Earnings Releases section. Read full article
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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