Archive for the ‘Executives’ Category

Jeep to Launch Renegade Plug-In Hybrid in 2020

Automaker set to have 12 electrified models in productions by 2022.

by on Oct.09, 2018

In 2020, Fiat Chrysler will offer a plug-in hybrid version of the Jeep Renegade to kick off its electrification program.

After a slow start, Fiat Chrysler Automobiles is plugging into battery power in a big way, the Euro-American automaker confirming plans to introduce a plug-in hybrid version of the Jeep Renegade in early 2020.

That follows the launch of a so-called “mild” hybrid system on the all-new Jeep Wrangler launched last year. The system, known as eTorque, is also being used on the completely overhauled 2019 Ram 1500 pickup just now rolling into U.S. showrooms.

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The Jeep Renegade PHEV will mark a major push into battery power for FCA, the company recently announcing that its various brands will introduce a dozen more advanced electrified models by 2022, ranging from conventional “full” hybrids to plug-ins to all-electric offerings. They will cover a wide spectrum of models and price segments, including the all-new plug-in supercar being developed by the Alfa Romeo brand. (more…)

Faraday Fritters Away Funding, Future Fading Fast — Again

Company not paying vendors while fighting with investor.

by on Oct.08, 2018

More than 300 Faraday workers gathered at the plant last weekend to help clean it up.

Less than a year after it was rumored to be out of money, budding electric vehicle maker Faraday Future appears to be out of money again — even after getting an $800 million infusion from a Chinese conglomerate.

According to a filing with Hong Kong Stock Exchange, the healthcare division of Chinese real estate group Evergrande is accusing Faraday Future founder and CEO Jia Yueting of trying to back out of the deal the two sides made in January.

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Evergrande officials claim that Jia blew through the $800 million and wanted another $700 million, and say they will take “all necessary actions” to protect itself and its shareholders. Conversely, Jia claims the company agreed to make two payments and after making the first, is trying to get out of the second, a $700 million payment due in 2019. (more…)

Musk Under Fire Again, This Time From His Supporters

Tesla CEO slammed for attack on SEC; his latest storm could cause problems with settlement.

by on Oct.08, 2018

Tesla CEO Elon Musk cannot help himself, taking a shot at the SEC via Twitter.

Tesla CEO Elon Musk is taking heat again, this time from supporters, as well as his long list of critics, for his attack on the Securities and Exchange Commission.

After reaching a deal with the SEC early this month that forced him to step down as Tesla chairman, the 47-year-old executive fired off the latest in an ongoing series of tweets dubbing the federal agency the “Shortseller Enrichment Commission.” That was a reference to the investors who have been betting on Tesla stock to fall and who have become one of Musk’s biggest concerns.

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Musk came under the SEC microscope after tweeting in August about a supposed plan to take the battery-carmaker private. Federal regulators subsequently accused the Tesla founder of making “false and misleading” claims, finding no basis to support the proposal and, in particular, Musk’s initial tweet stating “Funding secured.” The SEC could have completely barred the exec from serving in any capacity on a public company and it could have levied substantially more fines than the $14 million penalty Musk had to pay. (more…)

Ford Readying for Launch of New Midsize Ranger Pickup

Once mothballed nameplate being built near Detroit.

by on Oct.08, 2018

Ford will offer a wide range of Ranger body styles, beds and powertrain configurations.

Ford Motor Co. has released the horsepower, torque, towing and payload numbers for the all-new 2019 Ford Ranger, as the launch of Ford’s long-awaited now-midsize pickup draws closer.

The company confirmed it will begin building the new version of the Ranger, which was one of truck the automaker’s most popular and most durable vehicles, at the Michigan Assembly Plant in suburban Detroit before the end of the year.

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The original Ranger made its debut in the early 1980s and remained in production until December 2011 when Ford finally closed the assembly plant in St. Paul, Minnesota. (more…)

Ford Redesigning Company Structure, Salaried Job Cuts Coming in ’19

Number of white collar jobs to be shed unknown right now.

by on Oct.05, 2018

Ford CEO Jim Hackett has talked about a turnaround at the automaker and now it looks like it's happening.

Ford Motor Co. CEO Jim Hackett has talked about making the automaker a more “fit” company going forward, and now it’s clear what that means: salaried job cuts.

The automaker is “redesigning” its white collar workforce to be leaner, have few layers and offer the remaining employees more power to make decisions, and implement those decisions more quickly.

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Currently, Ford employs 70,000 salaried workers, among its more than 285,000 overall employees worldwide. Of that total, about 85,000 work in the U.S. The number of jobs that will be cut is unknown at this point as the plan is still be formulated. (more…)

Honda Implementing New Tech to Make Smart Intersections

Automaker working with Marysville, Ohio, to test technology.

by on Oct.05, 2018

Honda's Smart Technology uses V2X technology to make drivers aware of potential hazards in an intersection.

Honda has demonstrated its “Smart Intersection” technology that connects a vehicle to its surroundings to help reduce traffic collisions at intersections, which account for 20% of the 35,000 traffic deaths that occur annually in the U.S. and 40% of all collisions.

The technology was developed in partnership with Marysville, Ohio, the home of Honda’s Research and Development unit where, as part of a Smart Mobility Corridor project that addresses the limitations of on-board vehicle sensors in reducing traffic collisions at roadway intersections.

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“Honda believes that V2X technology is an essential component of a smarter and safer transportation ecosystem and can play a role in our dream for a zero-collision society,” said Ted Klaus, vice president of strategic research at Honda R&D Americas Inc.  (more…)

Polestar Moving Ahead With Development of New EV

Company testing verification prototypes in Sweden.

by on Oct.05, 2018

The all-new Polestar 1 performance PHEV is taking another step toward production with verification prototypes being tested in Sweden.

The development of the battery electric vehicles from Polestar, Volvo’s emerging battery electric vehicle brand, has taken another step forward.

The development of the Polestar 1 has moved off the computer and drawing board “with the production of the first series of “road-going” verification prototype, or VP, cars in Sweden.

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“The assembly of the VP cars means that the Polestar 1 has taken its next step towards production,” says Thomas Ingenlath, chief executive officer of Polestar.  (more…)

VinFast Amps Up Ambitions After Strong Debut in Paris

Look for it to target markets outside SE Asia. Europe could follow.

by on Oct.04, 2018

VinFast CEO Jim DeLuca, center left, unveils the company's two offerings with Miss Vietnam, left, and David Beckham, right.

The world’s newest automaker is rapidly ramping up its plans.

Little more than a month ago, during a visit to the new VinFast headquarters and manufacturing complex in Haiphong, an hour outside Hanoi, company officials told bingdb.info they were set to focus on the fast-growing Vietnamese automotive market, though they hinted they might look beyond the country’s borders at some time in the future.

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That future has apparently come fast. Following a well-reviewed debut of its first two products at the Paris Motor Show earlier this week, VinFast CEO Jim DeLuca revealed in an exclusive interview that “within a year we’ll be able to announce markets outside Vietnam and outside ASEAN (a trade bloc of Southeast Asian nations), to be clear. We’ve got our sights set both domestically and beyond.” (more…)

Electrify America Set Expand EV Charging Infrastructure

Stations designed to raise awareness for EVs.

by on Oct.04, 2018

Electrify America is getting ready to build $200 million worth of new EV fast chargers.

Electrify America, the organization created out of the Volkswagen diesel scandal to promote the use of electric vehicles, plans to invest $200 million in Zero Emission Vehicle infrastructure primarily in California.

The investment, which will start next summer and take 30 months to complete, will follow a plan outlined originally by the California Air Resources Board to raise awareness of electric-charging capacity.

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Electrify America was established to implement the $2 billion ZEV Investment Commitment outlined in Volkswagen’s court-approved settlement involving 2.0-liter TDI diesel vehicles. (more…)

Honda Partnering with GM in Race to Develop Self-Driving Cars

Japanese maker will invest $2.75 billion, including stake in GM’s Cruise Automation unit.

by on Oct.03, 2018

Cruise, GM and Honda will join forces to fund and develop a purpose-built autonomous vehicle for Cruise that can serve a wide variety of uses.

Honda Motor Co. will invest about $2.75 billion to enter into a partnership with General Motors aimed at developing self-driving vehicles.

That will include a $750 million investment in Cruise Automation, GM’s San Francisco-based autonomous vehicle subsidiary that was expected to launch its first product sometime next year. Together, the two carmakers plant “to develop a purpose-built autonomous vehicle for Cruise that can serve a wide variety of use cases and be manufactured at high volume for global deployment,” according to a joint statement released Wednesday.

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The announcement marks the second major collaboration between GM and Honda, the two announcing in January 2017 plans to work together to develop an advanced hydrogen fuel-cell system that would be produced at a facility in suburban Detroit already assembling battery packs for use in vehicles like the Chevrolet Bolt EV. (more…)