Daimler is doing better, Nicola is becoming less convincing every day, Foxconn is winning more and more cars, and BMW has announced a recall due to a fire. All this and more in Morning shift for October 16, 2020.
1st gear: Daimler did better than expected in the third quarter
Volvo did the same, but it’s Volvo that makes trucks, not Volvo that makes cars. Analysts did not expect this rebound, but it was necessary to think that the resumption of car sales will happen sooner or later.
Shares of Daimler rose 4.5% on Friday after the luxury carmaker released forecasts that exceeded third-quarter results, backed by better-than-expected growth in luxury car sales in September.
European car registrations rose slightly in September, the first increase this year, the industry showed on Friday, citing a recovery in the car sector in some European markets where coronavirus infections were lower.
Swedish truck maker AB Volvo VOLVb.ST also posted major third-quarter earnings well above forecasts due to a healthy jump in orders.
Daimler’s third-quarter profit before interest and taxes reached 3.07 billion euros ($ 3.59 billion).
Second gear: Foxconn intensifies work with cars
You may know Foxconn how iPhone manufacturer and a ton of shit other electronics. The Taiwanese company is also interested in cars manufactured by Bloomberg he says it gets much more serious.
On Friday, the company announced its first chassis on electric vehicles, as well as a software platform designed to help electric vehicle manufacturers bring models to market faster. The company also outlined plans to release a solid-state battery by 2024, which could potentially displace the most commonly used lithium-ion batteries in electric vehicles.
Chairman of the Board Yang Liu, who moved from founder Terry Gow in July 2019, has turned to new industries in automotive, robotics and medical applications to increase profitability amid growing smartphone solvency in recent years. At Apple Inc. Hon Hai, also known as the Foxconn Technology Group, still accounts for about 50 percent of total sales, but the company is seeking to move away from its role as a collector of consumer electronics such as the Macbook and Sony Playstations.
The company is targeting a 10% share of the electric car market by 2025, where its platform uses about 3 million cars, Liu told reporters on Monday.
Third gear: Nicholas is no longer so hot on the badger
Electric truck startup that collided problem after problem and in fact can be intricate fraud no longer talking to his badger, according to the Financial Times.
“Badger has been an interesting and exciting project for some shareholders, but our institutional shareholders are mostly focused on the business plan,” Mark Russell, head of Never, told the Financial Times on Thursday.
“Our main business plan, even before we got on the public lists, always focused on heavy trucks and hydrogen infrastructure.”
Mr. Russell described Borsuk differently in February, four months before he joined the company to become CEO. He called it a “game change” that would “help reduce the cost of fuel cell components on our semi-truck while speeding up the production of the hydrogen plant.”
Everything that Nikola says only deepens the idea that this company will not do it ever do it across the line.
Fourth gear: Oh, nothing, just some BMW fires
The company has announced the recall of some of its hybrid plugins due to “thermal events”.
From Car news:
BMW has recalled 26,900 hybrids worldwide after identifying a battery problem that could potentially cause a fire.
The models cover a wide range of plug-in BMW hybrids, from the 2nd Series Active Tourer to the 7-series flagship sedan. They are mostly in Europe without specifying the number.
BMW’s recall includes 4,509 cars in US NHTSA documents, indicating that the battery manufacturer is Samsung’s Korean supplier. BMW said it had not received any reports and was unaware of any accidents or injuries related to the defect, but also acknowledged that a “thermal event” had occurred.
“On August 4, 2020, BMW became aware of a field incident in which the BMW X5 model year 2021 occurred, when the vehicle was subjected to a thermal event,” BMW said in NHTSA documents. “The analysis has started. From early August to mid-September, BMW became aware of three additional incidents on the ground. “
Now the recall of hybrids is a serieswe are threatened by any car manufacturer that plays ball in Europe –Ford’s hybrid recall there meant he was afraid to pay huge fines for the missing its CO2 targets if it did not buy emission credits from another automaker. BMW says this is not a concern, according to AN:
Although the recall will delay the supply of hybrid plug-ins, BMW has said it still expects to meet its new, tougher CO2 emissions target in Europe this year.U
Go to NHTSA website check the recall for your own car that is not a BMW.
5th Gear: New York’s automotive culture
New York Times he cast his gaze about New York’s “crazy” car culture, car culture – acting like someone who lives in Queens, where much of New York’s history takes place – is neither crazy nor particularly loud. I hear the car noise I hear in the window every day, but the buses are louder. Just like great cars, when delivery trucks double and stop.
This article reads as if it was written by someone who has just discovered cars and fashion culture, which, you know, it probably was.
Here is a snippet:
However, there are different volume levels. One of the features of the rage among those who hate these machines is a problem that divides even their fans – a setting called a straight pipe. After adapting to the car’s computer, these exhaust pipes emit exhaust like a shot, expelling the accumulation of air with rapid fire.
Manmit Nidjar, 26, a student at Farmingdale State College’s aviation administration, said he found inner peace in a downtown tunnel. That’s where he lowers his windows, turns off the radio and turns his engine (of course, his car without a muffler). “I just love that sound!” Mr. Nijar said from a mechanical shop in Willets Point, Queens, while the technician added more bells and whistles to his car.
The article has a strong energy of “madness in the spine.”
Gear heads, hot rods and their impromptu, sometimes delicate rallies have long existed in corners of the city where the subway is scarce and car ownership is not a foreign concept. But during the long, tedious months of blocking the pandemic, more people seem to have flocked to the hobby, according to interviews and complaints about the noise.
There is a growing number of complaints about noise when bored young men (mostly men) seek social but somewhat social diversion. After all, everyone is sealed in their car.
Although few city mechanics have reported a boom in car modification orders, supporters say the pandemic has given them time to make their own modifications. Some said checking their incentives helped; half of what [Zejy Rodriguez, 20,] received from the government this spring went straight to his BMW.
So government incentive checks were actually a bad idea, as some people used some of the money to modify their cars. Got it, New York. I’m so glad you noticed, but please do better next time!
Reverse: Hell Yes
Neutral: how are you?
I’m going to Shelter Island this weekend because I’ve never been there and I have a birthday tomorrow. I have no plans to do anything but inject alcohol into my veins. This is 36.