It is possible that things are going very well in the besieged Apple Cars project and that Ford is only looking for one or two headlines by sneaking the head of the technology company’s program. I mean it is possible. All this and more The morning shift for September 8, 2021.
1st gear: none hired by Ford
There are some terrible pronouncements about this that appear from the experts:
Let’s see the details, from Bloomberg:
The car manufacturer he said Tuesday provoking Doug Field, who has been vice president of Apple’s special projects group. Field was a senior engineer at Tesla Inc. between two seasons at Apple and played a major role in the launch of the Model 3 sedan.
Field joins the automaker as a leader in advanced technology and embedded systems, informing President and CEO Jim Farley.
Ford shares invested a drop in the news to close Tuesday’s price of up to 1%, to $ 12.95, while Apple closed around 1.6% to $ 156.69, a discount of its maximum of the day.
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He Financial Times vindicated this move “It may mean the end of the iPhone maker automotive ambitions, “But another FT story points to another side of the agreement:
Before the shortage of semiconductors, truck and SUV sales were solid. Ford’s famous F-150 electric truck has reached 120,000 orders and its Mustang Mach-E is the second best-selling electric SUV in the United States. Ford shares have recovered nearly half in 2021, giving it a market value of approximately $ 52 billion.
This still tracks Tesla and even Rivian. This latest launch of EV trucks backed by Amazon and Ford is seeking an initial public offering of $ 70 billion, offering a more expensive rival to Ford’s own models. Ford hopes hiring Field outside of Apple can add some air to its own valuation.
That is, it is difficult to pinpoint the extent to which this affects or does not affect Apple, but it is clear that the measure raises the price of Ford shares. Maybe that’s all that’s really going on here. However, I might not bet on it, given the public failure that Apple’s relatively secret program has gone through for the past year. Even Hyundai / Kia kicked her to the sidewalk. Not the best look.
2nd gear: something happens with German eco-friendly cars
The German government maintains a close relationship with the German car industry for reasons of strict self-preservation. Cars represent Germany’s exporting industry, both in terms of finances and prestige, so it’s no surprise when you see that the German government is going to beat for its car manufacturers. More surprising is when there is conflict:
Things are still weird in this Financial Times history of the current car show in Munich. The German government is pushing for hydrogen; Its largest car maker mocks hydrogen:
On the eve of the show, VW chief Herbert Diess dismissed claims that he was moving slowly with his carbon reduction plans. “We are very fast. . . can we do it faster? No, “he said.” It’s impossible because this transition is so complicated and requires so much investment. “
Daimler chief Ola Kallenius said “it was not 100% in the hands of manufacturers to decide speed,” noting the need for governments to invest in cargo infrastructure to increase demand, while the head of BMW’s Oliver Zipse said his company focused on continuing to be profitable during the transition. “If you say that 50 per cent of the market in Europe will be purely electric by 2030, there is still the other 50 per cent, and if you say it will not serve [this 50 per cent] you are moving in a direction to reduce yourself, ”he said.
All three have also failed to support Germany’s push for greater use of hydrogen as an alternative fuel. “You won’t see any use of hydrogen in cars,” Diess told the FT bluntly in March.
I don’t know how this will be resolved, but I will be on the lookout for government pressure against dissenting car manufacturers.
3rd gear: VW’s car payment program is sold
Speaking of VW, your car payment system is getting more investment as Reuters reports:
JPMorgan has signed an agreement to buy a majority stake in the German car giant Volkswagen Payments Business before a planned launch of car-integrated technology that allows drivers to automatically pay for fuel or tolls.
The US bank said on Wednesday agreed to buy 75 percent of Volkswagen Payments for an undisclosed amount, subject to regulatory approvals.
The Luxembourg-based business was founded in 2017 and operates in 32 countries. It offers vehicle purchase and rental services, vehicle payments, fuel supply and underwriting services such as insurance and in-vehicle entertainment.
4th Gear: German candy makers very angry with protesters
And speaking of German carmakers in general, they don’t dare with the presence of Greenpeace to block traffic around Munich during the celebration of all things car, like The mirror reports:
Representatives of industry and politics expressed criticism of the protests at the IAA inside Munich . Of course, demonstrations and expressions of opinion are always possible, said Bavarian Chancellor Florian Herrmann (CSU). But there is also a framework of laws for them. If other actions were in jeopardy, this cannot be tolerated.
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“The IAA Mobility shows the way to climate-neutral mobility,” he said Hildegard Muller , President of the Automotive Industry Association (VDA), which organizes the fair. “And we also argue with those who do not agree. Our dialogue offer is valid. We reject violence and coercion. “
According to Der Spiegel, “[h]helicopters and alpine special forces were in action, “which seems excessive.
5th March: China has many EV vehicle manufacturers, not a ton of resources for them
China’s EV boom could be forced to enter some level of uproar, such as Bloomberg reports that the government seeks to “better target resources for the production of electric vehicles,” a strange phrase:
The average utilization rate of production capacity for automakers in China in general was about 53% last year, according to Bloomberg calculations based on a presentation by Jiangsu Province to NDRC in earlier this year. According to a report from Xinhua in April citing official statistics, China has about 300 electric vehicle manufacturers.
MIIT and NDRC officials said over the weekend that a key task for regulators is to ensure a good supply of the raw materials used in EV batteries, such as lithium, nickel and cobalt. He shortage of chips throughout the year it has also reduced production, further emphasizing the importance of matching production capacity with demand.
I’m not so sure. A country with 300 car companies seems like a good, sustainable number.
Reverse: Here are some fun transportation stories I learned from a tweet
This is a small thread of bridge construction. I hope to use it soon to bore everyone around me.
Neutral: How are you?
My cucumber plant has laid some new flowers this morning. The first flowers of a new year!