Archive for the ‘Personalities’ Category

Update: Musk Calls “Incorrect” Reports Murdoch Will Replace Him as Tesla CEO

Hunt continues with clock ticking under SEC settlement.

by on Oct.11, 2018

Elon Musk appears to have ruled out reports suggesting James Murdoch will replace him as Tesla Chairman.

Fox CEO and Tesla board member James Murdoch is apparently out as a prospect to replace Elon Musk as the battery-carmaker’s chairman.

Musk, who must relinquish the post as part of a settlement with the SEC, issued a Wednesday afternoon tweet declaring “incorrect” a report in the Financial Times that cited two supposed inside sources naming Murdoch as the frontrunner in the search. The FT story came days after several other media outlets also pointed to Murdoch as the likely successor.

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The 45-year-old Murdoch is a friend of the Tesla founder and boss and has been on the company’s board since last year. He was seen as a particularly suitable replacement for Musk as he will soon relinquish his role as CEO of Twenty-First Century Fox, the media conglomerate founded by his father Rupert Murdoch, after it sells off most of its assets to Disney.

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New Reports: Tesla to Name James Murdoch Chairman to Replace Musk

Will he be able to rein in company founder’s itchy finger?

by on Oct.10, 2018

James Murdoch appears to be the top choice to take over the chairman's role from Tesla founder and CEO Elon Musk.

James Murdoch, the outgoing CEO of Twenty-First Century Fox and an outside director on the Tesla board of directors, appears to be the favored candidate to replace the carmaker’s founder and CEO Elon Musk, who must relinquish the chairman’s role as part of a settlement with the SEC.

Murdoch’s name has surfaced several times since Musk agreed to step down from the chairman side of his dual role to settle charges of fraud leveled against him by the Securities and Exchange Commission for claiming Tesla had “funding secured” for a bid to go private. Musk later confirmed there was no firm plan or funding and subsequently canceled the move to privatize Tesla.

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According to a report by the Financial Times, several sources close to the discussions inside Tesla said Murdoch was a primary choice for chairman. He has been serving as a non-executive director since 2017. But while the son of Australian mogul Rupert Murdoch has extensive media experience, his time with Tesla marks his only involvement in the auto industry. (more…)

Woebcken Out as CEO of VW America, Audi Boss Keogh Takes Over

Bentley's Del Rosso takes over Audi for Keogh.

by on Oct.10, 2018

Hinrich Woebcken is out as the CEO of VW's North American operations, replaced by Audi chief Scott Keogh.

Volkswagen Group of America is shuffling the deck at the top for a new leader, but didn’t go too far to find him: former Audi of America chief Scott Keogh is replacing Hinrich Woebcken as President and CEO.

Keogh, 49, joined Audi in 2006 as Chief Marketing Officer and ascended to President in 2012. He’s played a major role in the near-luxury brand’s continuous sales growth for more than a decade. In fact, sales doubled between 2010 and 2015.

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Woebcken took over VWofA in January 2016. He came on during a difficult time for the brand as it was in the early stages of dealing with a global diesel scandal, which was uncovered by U.S. federal environmental regulators. (more…)

Volvo Scrambles as Trump Tariffs Shatter Export Plans for New U.S. Plant

China market closed, “I need to find a substitute," says US CEO.

by on Oct.10, 2018

Volvo's new plant near Charleston, S.C., is churning out new S60s. It will add the XC90 in 2021.

Volvo’s plans for its first-ever American assembly plant have been thrown into turmoil as a result of Pres. Donald Trump’s trade war with China, something that will result in fewer auto exports from the South Carolina factory, potentially impacting hiring plans, the automaker’s U.S. CEO told bingdb.info.

Volvo initially planned to use the Charleston facility as its global source for the all-new S60 sedan, while also producing some of its popular XC90 crossovers. Fully half of the assembly plant’s production was earmarked for China and other overseas markets, noted Anders Gustafson. But the administration’s escalating trade war has resulted in China boosting tariffs on American-made vehicles and parts from 25% to 40%, even as it reduces duties on auto imports from other trade partners to 15%.

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“Now, we cannot export to China” because the S60 would be priced out of the market, Gustafson, the president and CEO of Volvo Car USA, said during an interview near Los Angeles, where the company was offering journalists a first drive of the S60. “In this segment, you can’t raise prices because of competitiveness.” (more…)

GM Lauded by EPA for Commitment to Renewable Energy

Arlington Assembly plant makes top 100 list.

by on Oct.10, 2018

GM's Arlington, Texas plant is one of the most environmentally friendly in the country.

General Motors’ Arlington Assembly plant has earned a spot on the U.S. Environmental Protection Agency’s National Top 100 List of the largest users of green power.

The Arlington plant ranks 76 on list, earning the recognition of the Green Power Partnership effort to power all its global facilities with 100% renewable energy by 2050.

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“Receiving this recognition from the EPA is a true honor for the men and women at Arlington Assembly and UAW Local 276,” said Lamar Rucker, plant executive director at Arlington Assembly. “We take great pride in responsibly building world-class vehicles for our customers around the globe,” he said. (more…)

Trump Set to Allow Year-Round Sale of E15 Fuel

President appears to be catering to corn farmers.

by on Oct.09, 2018

President Donald Trump is expected to lift the summer time sales ban on E15 gasoline, allowing year-round sales.

President Donald Trump is looking to make farmers happy, corn farmers anyway, with plans to remove the ethanol restriction on gasoline and allow E15 blends to be sold year-round.

Currently, the blend is banned between June 1 and Sept. 15 each year because of concerns that the special blend combines with the higher summer temps to produce smog. Advocates for ethanol claim the charge is unfounded.

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E15 contains 15% ethanol while most gasolines are already made up of 10% ethanol.  (more…)

Power Study Finds “Total Lack of Trust” in Autonomous Vehicle Technology

More than four in ten say they “would never ride” in self-driving vehicle.

by on Oct.09, 2018

Looks like its going to take Waymo rides, er, way more rides in Waymo's autonomous minivan to change opinions.

Even as automakers rush to bring autonomous and completely self-driving vehicles to market, perhaps as soon as the end of the decade, there’s a deep distrust of the technology, with more than four out of 10 Americans saying they “would never ride in a fully automated vehicle.

The lack of trust runs deep, according to Robert Lajdziak a researcher with J.D. Power and Associates, which conducted the new study in partnership with the National Association of Mutual Insurance Companies, or NAMIC. Significantly, just as federal regulators have announced plans to ease restrictions on testing autonomous vehicles on public roads, those surveyed by Power and NAMIC questioned whether the government – as well as automakers and tech companies – can properly ensure the safety of the public.

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The new study likely reflects the fact that “people’s opinions have been swayed” by recent incidents involving semi- and fully autonomous vehicles, including a fatal Uber crash earlier this year in Tempe, Arizona, said Lajdziak, in an exclusive interview with bingdb.info ahead of the release of the new study. (more…)

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…)