Tesla Cutting 7% of Workforce, Warns “Road Ahead is Very Difficult”

Move comes days after cuts at CEO Musk’s SpaceX announced.

by on Jan.18, 2019

Tesla chief Elon Musk, in atter to employees announced plans to cut 7% of the company's workforce.

Warning that Tesla faces some serious challenges, despite delivering a solid third-quarter profit, Tesla CEO Elon Musk announced plans to cut 7% of the battery-carmaker’s staff in a letter sent to employees on Friday.

All told, that would work out to about 3,150 of the people who work at Tesla’s headquarters in Silicon Valley, plants in Fremont, California, and Reno, Nevada, and other facilities. The move comes just days after Musk outlined plans to cut 10% of the workforce at his SpaceX rocket company.

Business News!

“I want to make sure that you know all the facts and figures and understand that the road ahead is very difficult,” Musk said in the memo sent to the Tesla workforce, adding that, “While we have made great progress, our products are still too expensive for most people.” More »

Infiniti, Ford, Lexus Walk Off with NAIAS Design Awards

Automotive design celebrated at annual event.

by on Jan.18, 2019

Infiniti's QX Inspiration EV concept was the big winner in this year's Eyes on Design competition taking home three awards.

Throughout the course of its 30-year run, the North American International Auto Show in Detroit’s Cobo Center became known as a “designers’ show” because of the large number of concept cars that emerged during the annual press preview.

For 2019, the tradition carried on with the annual “Eyes on Design” Award singling out three vehicles, one from Infiniti, one from Lexus and one from Ford for honors.

News You Can Trust!

One of the big winners this year was Infiniti, which walked off with honors in three separate categories. More »

No-Shows, But Tesla and Musk Still Have Strong Presence at NAIAS

But can California carmaker survive the new onslaught of competition.

by on Jan.17, 2019

Tesla CEO Elon Musk showed off a prototype Model S in 2010, the last time he attended the NAIAS.

Battery-electric vehicles may still account for less than 1% of the U.S. new vehicle market, but they have had a notable presence at this year’s North American International Auto Show – something that many credit to a manufacturer that was notably absent from Detroit’s Cobo Hall convention center: Tesla.

Cadillac made a major splash during the first media preview of this year’s show, when it not only revealed the new XT6 utility vehicle but announced that it will be the first General Motors brand to use the automaker’s new all-electric platform for another SUV debuting in 2021.

http://bingdb.info/about/subscribe

Electrifying!

Throughout the show, automaker’s either revealed new battery cars and concepts or outlined their plans for an electrified future. Volkswagen, for one, announced plans to invest $800 million to add production of two new all-electric models at its plant in Chattanooga, Tennessee.

More »

Lotus to Build Cars in China

Geely gets approval for new plant in Wuhan.

by on Jan.17, 2019

As it develops new products, like the 3-Eleven, Lotus needs more manufacturing space, and it's getting it – in China.

Geely Holding’s acquisition of a majority stake in Lotus in 2017 virtually assured the oft-troubled sports car company would survive well into the future, and at some point, some of its cars would be produced in China.

Well, the future is now.

Global News!

Lotus’s Chinese parent plans to open a $1.3 billion factory in Wuhan that opens up a world of possibilities for the super car producer. The company could build more over-the-top vehicles, i.e. faster and better handling, or it could simple build more, i.e. volume. More »

Musk Puts Halt to Tesla Referral Program to Cut Costs

CEO says its too costly to keep the program.

by on Jan.17, 2019

Musk is cutting the referral program as the EV maker looks to cut costs and improve profits.

Tesla CEO Elon Musk means business when he talks about cutting costs to improve profitability. The company’s founder tweeted the company will eliminate the customer referral incentive plan on Feb. 1.

Musk wrote the referral program is ending because “it’s adding too much cost to the cars, especially Model 3.”

News Now!

The program was introduced in 2015 by the EV maker, aimed at luring buyers and creating disciples. The owners were given personal referral codes providing them with six months of free supercharging and prizes for existing owners such as launching personal photos into deep space or invites to a Tesla event.  More »

Union, Activists Plan GM Protests Outside Charity Preview

Rally to call to light unfairness of plant shutdowns.

by on Jan.17, 2019

The UAW plans to hold a candlelight vigil outside of the NAIAS charity preview to protest GM's planned plant closures.

The Union Auto Workers and union activists are planning demonstration ahead of North American International Auto Show charity preview to protest General Motors’ plans to close five plants.

The UAW is organizing a candlelight vigil at the Labor Monument on Jefferson a short distance from Cobo Center, starting at 4:30 p.m. “Recent announcements from GM concerning plants in the U.S. will have a devastating effect on members of the UAW family,” the union said in announcing the vigil.

News You Can Trust!

The union, along with Unifor, the union representing autoworkers in Canada, has been waging a letter-writing campaign to protest GM’s plans to close five assembly and manufacturing plants in the U.S. More »

Key Message Lost in GM’s Plant Closing Announcement, Barra Says

Company offered jobs to all 2,700 employees affected.

by on Jan.17, 2019

GM CEO Mary Barra told the Automotive News World Congress that she understood why people were upset by GM's plans to close five plants.

General Motors fumbled its recent announcement about its plans to close plants in the U.S. and Canada, GM’s top executive acknowledged.

During an appearance at the annual Automotive News World Congress, GM Chairman and CEO Mary Barra said the timing of the announcement in November that the company planned to close plants in and around Detroit, Lordstown, Ohio, Baltimore and Oshawa, Ontario, was driven by the change in customer preferences away from cars and to SUVs.

Subscribe Now!

“Having been at General Motors for 38 years, I feel a huge obligation to make sure that General Motors is successful not just a for a few years. I want GM to be successful for many, many decades,” Barra said. More »

Farley Says Ford Following a Different Game Plan for EVs

"Mustang-inspired" EV to make profits fast too.

by on Jan.16, 2019

Ford's Jim Farley said the company is comfortable trailing the pack on EV development, as it has a different plan.

Once considered one of the leaders in race to produce a viable electric vehicle, Ford Motor Co. has fallen behind rivals like General Motors and its new partner, Volkswagen AG.

However, if you listen to Jim Farley, Ford president of Global Markets, the company feels just fine about trailing the pack.

All Charged Up!

“Our strategy is different,” Farley said last night at the Automotive News World Congress in Detroit. “In a way we had the advantage of watching what happened the first time around. What customers have told us is ‘Just give us the good stuff.’ We’re going to change a lot of people’s minds.” More »

Marchionne Tops List of Automotive Hall of Fame New Inductees

This year's foursome very impactful on industry.

by on Jan.16, 2019

Sergio Marchionne, former CEO of Fiat Chrysler Automobiles, was inducted into the Automotive Hall of Fame less than a year after his death.

The Automotive Hall of Fame will induct four new members into its ranks next including Richard E. “Dick” Dauch, co-founder of American Axle Manufacturing; Janet Gutherie, the first woman to qualify for the Indianapolis 500; Sergio Marchionne, former CEO of Fiat Chrysler Automobiles and Patrick Ryan, creator of the first auto dealership finance and insurance department.

Marchionne, who died last summer, rescued first Fiat and then Chrysler from the automotive scrap heap and then managed to merge the two troubled companies to form one of the largest and most profitable automotive manufacturers in the world, Fiat Chrysler Automobiles.

Subscribe Now!

“Marchionne was also regarded as one of the boldest business leaders of his generation thanks to his business acumen as well as his outspoken and often frank approach to dealing with difficult and complicated problems,” the Hall of Fame citation noted. More »

EVs Aren’t Ready to “Take Over the World,” Says Toyota’s Lentz

North American CEO warns “It’s going to be a battle” are models flood market but sales lag.

by on Jan.16, 2019

Toyota's Jim Lentz believes the auto industry is putting too much stock – and money – into electric vehicles.

By various estimates, there should be as many as 100 all-electric vehicles on the market by the end of 2020, with scores more plug-ins and conventional hybrids already available. And that could pose a major challenge for automakers who are investing billions into the market to build battery-based vehicles. That includes Toyota which is investing about $1 billion to open up a new plant in U.S. in a partnership with Mazda that will, among other products, produce a new line-up of battery-electric vehicles, or BEVs.

The question is whether all that money could be going down a rathole. For the moment, at least, Tesla appears to be the only automaker making any money on battery vehicles, as a number of industry leaders pointed out during a series of events in Detroit this week.

News Now!

That included Jim Lentz, the CEO of Toyota North America, who warned that, “It’s going to be a battle,” as manufacturers struggle to grab customers in a market where “There’s not much growth.” More »

www.profvest.com

profvest.com/2017/09/bet8-limited-hyip-otzivi-obzor.html

http://avtokum.com