Wednesday, April 21, 2021

Tag: Automotive

Toyota introduces 15 new electric cars by 2025

Toyota announced the launch of 15 models of battery-powered electric cars worldwide by 2025, to expand the company’s electric vehicle lineup to achieve carbon neutrality before 2050.

The company said it would increase the number of its electric models to about 70 from the 55 currently on the market.

Japan’s Toyota Motor Corp. indicated a shift in its stance on climate change on Monday, saying it would review its pressure and be more transparent about the steps it is taking, as it faces increasing pressure from environmental activists and investors.
The automaker came under scrutiny after siding with the Trump administration in 2019 in an effort to stop California from setting its own fuel-efficiency rules. “We will review the public policy participation activities through our company and industry associations to ensure that they are in line with the long-term goals of the Paris climate agreement,” Toyota said in a statement, adding that the measures will be announced by the end of this year.

The automaker also confirmed that it “will strive to provide more information so that stakeholders can understand its efforts to achieve carbon neutrality.”

Four funds with asset management are pressuring about $ 235 billion on Toyota ahead of its annual shareholder meeting in June to support international efforts to prevent global warming.
“This move should not be a PR exercise, but rather it signals a clear end to its role in the negative climate pressure that has given it a backward status,” CEO of the Danish Pension Fund AkademikerPension told Reuters.

A Danish pension fund spokesman, Troels Boreleld, said AkademikerPension will consider preparing a shareholder resolution to present at next year’s annual general meeting if “Toyota fails to fulfill its obligations”. The fund will consider selling its Toyota holdings if there is no change, but the spokesman said the fund officials did not think it would reach this point.

Munch Holst noted that “thus far, the company has repeatedly undermined climate action, from opposing the UK government’s ban on internal combustion engines by 2030 to opposing auto fuel economy standards in the United States.”

A Toyota spokeswoman told Reuters it would need more time to respond to Munch Holst’s comments. Other investors are the Church of England Pensions Board, Swedish AP7, and Norwegian Storebrand (STB.OL).

Two victims in a new accident of a self-driving Tesla car

On Monday, two people were killed when their Tesla car collided with a tree on the road near the American city of Houston, which caused the car to ignite and the occupants died, and it took the firefighting forces 3 hours to control the fire.

While the investigations continue, initial reports confirmed that the Tesla car battery continued to re-ignite whenever the firefighters extinguished its fire, and the firefighting forces contacted the electric car company to find a quick way to control the ignition of its battery car.

According to KHOU, investigators have determined that there was no person behind the wheel during the accident, and one passenger was in the seat next to the driver’s seat, while the other person was in the back seat.

The initial reports of the investigations indicated that the car was traveling at a high speed, and it failed to turn due to its speed, which led to its departure from the road and colliding directly with a tree.

Initial reports have not yet confirmed whether the AutoPilot automated driving assistant was activated before the accident or not, and this will become clear with the progress of the investigation process.

Tesla did not comment on the incident yet, as it had canceled its public relations sector, which was responsible for communicating with the media.

Tesla returns money for wrongly withdrawn clients

“Tesla” electric car company returned the money that it had accidentally deducted from credit cards for customers, at the end of last March, and apologized to its affected users, and added 200 dollars to their electronic accounts to be used in the purchase of any of its products through its online store, according to what was published by the site “Engadget”.

CNBC published a report, stating that the users affected by the error expressed their dissatisfaction with Tesla not disclosing the reason behind the problem, stressing that the value of the discounts they got and the value of 200 dollars, is considered much less compared to what they incurred. Of special benefits for their credit cards for a week.

The German “Rosberg X Racing” crowned the “Extreme E” title in Saudi Arabia

The first race in the history of the “Extreme E” series of electric SUVs, which was hosted by the Kingdom over two days, concluded in the Saudi Al-Ula governorate, on Sunday, with the participation of 9 international teams.

The German “Rosberg X Racing” team, made up of Sweden’s Johan Kristofferson, and Australian Molly Taylor, was crowned the “Extreme E” racing title.

Andretti United, represented by Swedish driver Timmy Hansen and Britain’s Kitty Munning, came second, and X44, represented by French rally champion Sebastian Loeb and Spanish driver Christina Gutierrez, came third.

The race was held over a period of two days, with the participation of 18 riders representing 9 international teams, in the event organized by the Saudi Ministry of Sports in cooperation with the Saudi Automobile and Motorcycle Federation.

The final round of the race took place amid great competition, starting with the first semi-final round, as the “Rosberg X Racing” and “X44” teams qualified before “Rosenberg” decided their presence in the final, while the “Andretti United” team qualified from the semi-finals. The second final called “The Crazy Race”, in which the “fourth, fifth, and sixth” of the qualifying rounds completed.

“Continental GT Speed” … is more dynamic than “Bentley”

“Bentley Motors” revealed some details of its new “Continental GT Speed” car, which is the most dynamic in the history of “Bentley”, which extends over 101 years, and it is the perfect expression of a performance-focused luxury car.

The new third-generation is distinguished by being carefully designed, engineered, developed, and handcrafted in the carbon-neutral Bentley factory for the production of luxury cars. It builds on the long-standing traditions of the various Speed ​​versions and raises them to greater levels.

The famous first-generation Continental GT Speed ​​was introduced in 2007 and was inspired by the 3-Liter Speed ​​models from the 1920s. The latest model from the Continental GT Speed ​​continues to have the same heritage characteristics and embodies the perfect combination of luxury and performance in the design of a high-performance luxury car.

Dr. Mathias Raab, Board Member of Bentley Motors, said: For engineering: The new Continental GT Speed ​​is the pinnacle of luxury, high-performance driving. This new model is the strongest expression of the Continental GT’s values ​​of thrill and high dynamism and is full of unique Speed ​​details to enhance the ownership experience and give customers more control over the car’s personality.

He added: The world’s most luxurious high-performance car is already more capable than ever before, and it has a new sporty feature that will attract drivers interested in high performance. Speed ​​is the latest chapter in the Continental GT story and helps Bentley customers create their own extraordinary rides.

Very cheap … a Chinese electric car grabs the limelight from Tesla

A Chinese electric car snatched the lights from the Tesla Model 3 vehicle to become the best-selling vehicle on the planet in January, for its irresistible price of $ 4,500.

According to the US news site Axios, the success surprised the manufacturer of the car, “CGMW”, a joint venture between “General Motors” Shanghai auto manufacturer and “Woolig Motors” company, as it was expected that the same car “Hong Gong” would be sold. The four-seater is about 3,000 per month, and sales exceeded 36,000 in January. More than 200,000 vehicles have been reported to have been purchased from them since production began last summer.

The source reports that the Chinese electric car is narrow for four people, and it lacks Tesla vehicle’s battery range (105 miles) and performance (top speed 62 mph), but its convenience and low price attract Chinese consumers.

An executive at Wooling Motors told the China Daily that most of the buyers are younger women in small cities, and that may be because it is being marketed not as a car but as design clothes, with fun new colors being introduced to its look.

This is while the company is also planning to unveil co-branded cars, with big names such as “Nike” and “Disney”.

The “Service My Car ” application secures $ 10 million in financing for expansion in “cooperation” countries

Bahwan has invested $ 10 million in the My Car app to expand its business in the GCC by launching to Saudi Arabia, Oman, Kuwait and Bahrain by the end of the year.

The application, which was launched in 2018, allows car owners to remotely reserve their cars for service and maintenance from home or work.

“We are delighted to expand after two years of operations in the UAE,” said the founder of the My Car Maintenance app and CEO Ozir Boda. Since our inception, we have provided our services to more than 10,000 cars and saved thousands of car owners from the costs of maintaining and repairing their cars. We offer a 12-month warranty on parts, labor service and operation.

The app grew by 200% annually. The application contains more than 6 services ranging from car maintenance, repair, roadside assistance, service and detail contracts, and renewal service with the Roads and Transport Authority. Soon, it will launch four-wheel drive car accessories, an oil change service by ordering through a mobile phone, renting a car, insuring a car and changing tires all through an application through a mobile phone.

The service is available for all types and models of cars, and car owners can save up to 80% of the maintenance and repair costs compared to agency prices if they choose replacement parts (after-sales parts), and it also comes with a service for each car, a comprehensive examination of the car with free delivery and delivery.

Aston Martin pledges to build electric cars in Britain by 2025

The British luxury car manufacturer Aston Martin has pledged to manufacture its electric cars in England and Wales from 2025.

Lawrence Stroll, who owns a large stake in the famous brand, told the British newspaper “The Financial Times” that an electric sports car and an SUV will be manufactured at the company’s factories in the West Midlands and South Wales, England, instead of the factories run by the company. Mercedes-Benz, which owns a small stake in Aston Martin.

A spokesman for “Aston Martin” said that the German car giant usually manufactures engines for “Aston Martin” in Germany, as the company is a technical partner of the British brand.

The Financial Times reported that Mercedes could continue to manufacture batteries, as Stroll and his team “are looking at all options.”

Record losses for the French “Renault” group of 8 billion euros in 2020 due to the Coronavirus crisis

The economic repercussions of the Corona virus led to record losses for the French car manufacturer “Renault”, which amounted to eight billion euros in the year 2020. In addition to the Covid-19 crisis, the French group incurred losses amounting to 4.9 billion euros due to what its Japanese partner “Nissan” witnessed. Renault owns 43 percent of it. Renault seeks to improve its profitability by compensating for the decline in its sales by saving the financial burden, according to a strategic plan it announced in January.

In the year 2020, the French auto industry group “Renault” incurred record losses amounting to eight billion euros due to the economic repercussions of the Corona virus, but it hopes to improve its conditions thanks to a strategic plan that gives priority to profitability at the expense of sales volume.

The main reason for these losses is due to what was witnessed by its Japanese partner, “Nissan”, of which “Renault” owns 43 percent, which caused the French group to lose 4.9 billion euros.

A statement issued by “Renault” stated that the volume of its sales decreased last year by 21.3 percent, indicating that it sold less than three million cars in a sector that is witnessing a severe collapse.

Operating margin improvement

However, despite the poor results of last year, Renault managed to register an operating margin of 3.5 percent in the second half of 2020, which it considered “a first step in the group’s recovery path”.

Renault seeks to improve its profitability by compensating for the decline in its sales by saving the financial burden, according to a strategic plan it announced in January.

“The year 2021 will likely pose a new challenge, but we have taken the necessary measures,” said Luca de Meo, Group Chief Executive Officer, in a press conference. “We expect pleasant surprises in the second quarter.”

Renault considers that the severe shortage of Asian electronic components that the global economy suffers from may delay the production of 100,000 cars, even if the production shortfall is remedied in the second half of the year, especially by opening factories in the summer.

De Meo’s roadmap aims to create an operating margin of 3 percent by 2023, a goal that was reached in the second half of 2020.

The group is trying to improve its situation through a plan that includes allocating half of the 24 models it intends to release by 2025 for small cars and to the “sedan” category, two of the lucrative categories in which Renault fell.

Renault also wants to increase its fleet of hybrid-engine vehicles based on E-Tech technology and double its sales of electric cars, especially battery-powered models from the Megane, R-5 and Dacia battery-powered.

De Meo said that the French group is in “talks with several parties” to find a concept for a “Renault battery factory.”

An announcement in this regard is expected in the coming months, while the competing group “Stilantis” (the merger of BSA and Fiat Chrysler) is working on building its own plant in cooperation with the oil group “Total”.

In light of the lack of clarity of vision due to the continuation of the pandemic, the group did not publish its forecast for 2021.

On Friday, French Economy Minister Bruno Le Maire said during a visit to Dijon, “We are confident in Renault’s ability to recover.”

He stressed that the French state contributing to “Renault” considers its transformation plan “convincing”.

Lucid Motors plans to launch a Tesla competitor’s Model 3 car by 2025

Lucid Motors, backed by the Saudi Public Investment Fund, plans to launch a rival Tesla Model 3 car between 2024 and 2025 and is preparing to produce its first electric car, the luxury Air Car, in late 2021, while the company was planning to launch it In the spring of this year.

This comes after Lucid Motors recently announced plans for an initial public offering through a merger with Churchill Capital IV, a New York Stock Exchange-listed special-purpose acquisition, in a deal that could be worth up to $ 24 billion.

Challenging Tesla competition
Lucid Motors, Tesla’s rival, the Model 3, will be a cheaper sedan, the company’s chief executive, Peter Rawlinson, told Reuters, adding that the focus will be on producing a larger, luxury car that requires fewer resources.
Manufacturing a smaller car requires huge funds, due to the need for a larger factory and more machines and equipment, Rawlinson said, noting that increasing production of huge cars represents a major financial challenge for the company.

Lucid Moutuz, headed by a former Tesla engineer, follows the same strategy as billionaire Elon Musk, which relies on starting a luxury car launch to attract the spotlight towards the brand and then expanding the market further afterward.

Automotive experts believe that it is too late for Lucid Motors to produce a more affordable model versus Tesla cars as the main players in the traditional car market have already introduced competing models to Tesla such as Volkswagen, Hyundai Motor, and Ford.
There are questions about whether a stake for Lucid Motors will remain in the competing car market for Tesla after about 4 or 5 years, according to auto industry analyst Mel U.

The company expects to produce a cheaper version – for less than $ 70,000 – of the luxury sedan in 2022, then it will focus on producing a multi-purpose sports car named Project Gravity in 2023, with small trucks and commercial vehicles to be developed, after several years with cooperation. With other partners, Rawlinson says.
A car for 25 thousand dollars
The world urgently needs an electric car at a price of $ 25,000, but Lucid Motors is practically unable to do that now and for another 8 years, Rawlinson said, adding that even Tesla has not yet launched such a model.

6 well-known automakers contacted Lucid Motors over the past month and showed interest in the company’s technology and the possibility of joint cooperation, indicating that this partnership could result in a $ 25,000 car industry in the next three to four years.

It’s too early for Lucid Motors to make its own battery cells at the moment as the company has contracts with mods such as LG Chem and Samsung SDI, according to Rawlinson.

Tesla Deliverables
Tesla deliveries in the fourth quarter of 2020 increased by more than 70% to 180.6 thousand cars compared to the same quarter in 2019, while deliveries are only 30% higher on a quarterly basis, but production in the fourth quarter of last year was much lower. .

Tesla topped global electric vehicle sales in 2020, with an estimated 499,535,000 units sold, more than double the sales of Volkswagen, which came second in terms of electric vehicle sales.

Sales of Tesla during the year allowed it to increase its share of the electric car market by 17.95%, and Volkswagen was the only other producer with a double-digit market share of 12.6%.

Tesla had started selling its Tesla Model 3 in 2017, targeting a wider market spread, and it was the fourth car to produce it, and in 2020, the Model 3 was the best-selling model of electric vehicle worldwide.

Mask Fortune
The 50-year-old Musk’s fortune has fallen $ 3.1 billion to currently register $ 166.1 billion, according to Forbes’ instant statistics, but he has maintained his position as the second richest billionaire in the world, after the founder of e-commerce giant Amazon, Jeff Bezos, who sits on the throne of the world’s richest with wealth. It is worth $ 186.9 billion, while French billionaire Bernard Arnault is in third place, with a fortune of $ 158.1 billion.

Tesla’s share price – in which Musk owns 21% of its shares – fell 2.19% to $ 698.84 by the end of trading on Wall Street on Tuesday.

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