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McLaren Offering More Open Air Speed With New 720S Spider

New convertible offered with transparent retractable roof.

by on Dec.10, 2018

The new McLaren 720S Spider is the latest creation born from the company's $1.6 billion Track25 plan.

British supercar maker McLaren Automotive keeps rolling out new models, extending its comeback from the brink of death. The latest is the 720S Spider, which is part of its Super Series product line.

The comeback is part of the nearly $1.6 billion Track25 business plan that was the latest effort to revive the iconic sports car company, and the only one that seems to have taken. The new 720S Spider is available right now.

Product News!

“The new McLaren 720S Spider offers an unparalleled blend of extreme performance, crafted luxury, driver involvement and daily usability – all with the additional exhilaration of open-air driving whenever required,” said Mike Flewitt, chief executive officer, McLaren Automotive. (more…)

FCA Adds Two New Executives to Company’s Top Ranks

Stewart, Golightly come from outside auto industry.

by on Dec.07, 2018

FCA CEO Mike Manley added two new executives from outside the automotive industry.

Many thought that CEO Mike Manley would be Sergio Marchionne’s successor, and his first big decisions have largely followed Marchionne’s most recent five-year plan. However, today is a new day and Manley is proving to be an executive willing to make his own decisions.

After nearly a decade of developing and renewing its leadership team internally, Fiat Chrysler Automobiles hired a pair of executives from outside the automotive industry to man key leadership posts.

Business News!

Manley named former Amazon Vice President Mark Stewart Fiat Chrysler’s North American COO, a job held at the beginning of this year by CEO Sergio Marchionne before his death in July and then by Manley. (more…)

Barra Completes Two-Day Tour, Sticks to GM’s Guns About Closings

Senators push CEO to change her mind — with no luck.

by on Dec.07, 2018

General Motors CEO Mary Barra said no changes would be made to the closures of five U.S. plants.

General Motors Chairman and CEO Mary Barra completed two days of tense discussions with politicians in areas affected by the company’s recently announced plans to close five plants and displace thousands of workers.

Barra’s message was that these decisions were not made lightly and that the company would find jobs for many of the displaced workers, but ultimately they were made due to shifts in the buying habits of Americans.

News Now!

“We had really productive discussions, and I think they have a better understanding of what we’re doing and why, and how we’re making sure that we’re supporting the displaced workers, especially at the plants that are impacted, ” she said after meeting with Michigan politicians, the Detroit News reported.  (more…)

Tesla Hustling to Build New Plant in China

New site will build only Model 3s at launch.

by on Dec.06, 2018

Tesla Inc. has reached an agreement with the Chinese government to build an assembly plant in China.

Tesla’s $2 billion Gigafactory in Shanghai, China, may begin construction sooner than observers expected as the EV maker is accepting bids from companies to build the plant that will theoretically build all of the batteries for the maker in China.

The company is accepting bids from construction companies wanting to build the plant, and in fact, much of the prep work is complete, according to Reuters. The new plant will be noteworthy for two reasons: it’s going to accelerate Tesla’s ability to sell vehicles in the country.

Dig Deeper!

Perhaps more importantly, it will be the first wholly foreign-owned facility in China — a concession the government made to get more electric vehicles into the country. (more…)

Faraday Future Furloughs More Employees

Company blaming Chinese investor for woes.

by on Dec.05, 2018

A large portion of Faraday's workers have been furloughed, those remaining taking pay cuts.

After a lengthy silence, financially challenged EV maker Faraday Future issued a tweet reconfirming its commitment to build its FF 91 model, while warning if an infusion of cash doesn’t arrive soon that could change. The company noted a round of layoffs are on tap as well.

In mid-November, the company was assumed dead before some churn at the top of the company’s management structure lead to founder Nick Sampson departing the company and the new leadership team announcing the company would come back.

Dig Deeper!

Today’s Twitter missive laid the blame for their current financial issues squarely at the feet of Chinese investment firm, Evergrande Health. (more…)

Hyundai Workers Plan Strike to Protest New Venture

Automaker teams with city for non-union auto plant.

by on Dec.05, 2018

Hyundai workers in South Korea are planning to strike in protest of a new joint venture planned between the automaker and Gwangju to build a non-union plant.

Union workers in Hyundai Motor’s plants in South Korea plant to walk off the assembly line in protest about a potential joint venture between the automaker and the city of Gwangju to build small vehicles using non-union labor.

The plan, which is still in negotiations, calls for the two sides to jointly own a plant employing 1,000 workers to produce mini-SUVs. The employees would earn a little more than $31,000 annually, which is less than half of what unionized workers earn at existing auto plants.

News Now!

South Korean workers often strike to during wage negotiations, walked this time for four hours to protest the salaries and use of non-union workers. (more…)

Waymo Kicks Off Autonomous Taxi and Ride Sharing Service

Autonomous service starts in Phoenix.

by on Dec.05, 2018

This scene may become more common as Waymo One kicks off service in Arizona.

Self-driving ride-sharing service is here. Well, it’s in Arizona, technically, but the day that Uber, Lyft and others have waiting for has arrived with the debut of Waymo One, Waymo’s autonomous taxi and ride-sharing service.

The service operates in a 100-square-mile zone covering four Phoenix suburbs: Chandler, Tempe, Mesa and Gilbert. The company has been testing its vehicles in the area since 2016, including offering free rides earlier this year to generate some goodwill for autonomous vehicles.

Business News!

“Over time, we hope to make Waymo One available to even more members of the public,” John Krafcik, Waymo’s CEO wrote in a blog post. “Self-driving technology is new to many, so we’re proceeding carefully.” (more…)

Volkswagen May Use Ford Plants for Vehicle Production

VW CEO Diess confirms possibility after Trump meeting.

by on Dec.04, 2018

VW's CEO Herbert Diess said the company may use Ford plants to produce VW vehicles in the U.S.

The news of a second Volkswagen plant in the U.S. just became more interesting in the wake of a White House meeting between President Donald Trump and the heads of several European automakers.

After the meeting Herbert Diess, Volkswagen’s CEO, said as part of the growing alliance with Ford Motor Co. the automaker may use Ford plants to build cars. He added later that the company was “considering building a second car plant.”

News Now!

“We are in quite advanced negotiations and dialog with Ford to really build up a global automotive alliance, which also would strengthen the American automotive industry,” he added. (more…)

Ghosn May Ring in New Year in Japanese Custody

Former Nissan CEO denies any wrongdoing.

by on Dec.04, 2018

Ousted Nissan Chairman Carlos Ghosn may ring in the new year in Japanese custody.

Ousted Nissan Chairman Carlos Ghosn may be arrested again by Japanese authorities as part of their ongoing investigation into charges of alleged financial misconduct by the former company executive and a colleague.

Ghosn was initially expected to be released on Dec. 10, after having his release delayed two times already. Japanese law allows investigators to arrest a suspect again if new criminal charges are filed, which is exactly what is expected to happen with Ghosn.

Global News!

He could be detained until the end of the year. Japanese prosecutors are expected to file charges that Ghosn’s total compensation for 2016 and 2017 exceeded the cap set by the company’s shareholders, according to an Automotive News report. (more…)

Trump to End Electric Vehicle Subsidies by 2021

GM, Tesla have already enjoyed the best of the tax credits.

by on Dec.03, 2018

President Donald Trump said he told GM CEO Mary Barra that the country has been "very good" to the automaker.

President Donald Trump has threatened to kill one of the signature efforts of the Obama administration, but today White House economic adviser Larry Kudlow confirmed it: Trump will end subsidies for electric cars.

The move, which Kudlow said would happen in 2020 or 2021, covers other items including renewable energy sources. He revealed he plans in response to a question about what the administration plans to do in response to General Motors’ recently revealed plant closings and employee layoffs.

News Now!

The president, who is in China, did not offer an official proclamation, nor has he tweeted about it, which is often how he reveals impactful actions he plans to take. (more…)