Asia UnhedgedReal-time intel on what moves markets American carmakers are missing their chance to gain a foothold in the market of the future, and investors have noticed By David P. Goldman September 22, 2018 5:15 AM (UTC+8) Share Tweet Linkedin Print Email Share 0 Comment 0 Economic historians will cite July 9, 2018 as the date on which the US lost the trade war with China – before the war began. That was when Germany’s top manufacturing companies – Volkswagen, BMW, Daimler, BASF and Siemens – announced tens of billions of dollars of new investments in China as Chinese Premier Li Keqiang posed for a photo op with German Chancellor Merkel in Berlin. BMW will expand its joint venture with Brilliance Auto to produce 519,000 vehicles a year. It also set up a joint venture to produce an electric version of the Mini together with Great Wall Auto. And it agreed to buy US$4.7 billion worth of batteries from Chinese producer CATL, which just announced a … [Read more...] about Did Trump just kill the US auto industry?
Who killed the electric car
caption Tesla CEO Elon Musk and former General Motors vice chairman Bob Lutz source REUTERS/Mark Blinch Bob Lutz, the former vice chairman of General Motors and prominent Tesla critic, would like you to know that he still believes Tesla’s days are numbered. Lutz said in an interview with CNBC on Tuesday that the totality of the electric-car maker’s financial, administrative, manufacturing, and legal problems signal Tesla “is headed for the graveyard.” The remarks come at another challenging time for Tesla and its CEO, Elon Musk, as US authorities investigate his claim that he had “funding secured” to take his company private. Tesla is also working overtime to crank out as many of its mass-market Model 3 sedans as it can. “They will never make money on the Model 3 because the cost is way too high,” Lutz said Tuesday. “He’s got 9,000 people in that assembly plant … [Read more...] about Former GM exec Bob Lutz predicts conspiracy theorists will soon be asking ‘Who killed Tesla?’
caption Tesla CEO Elon Musk. source Mark Brake / Getty Images Tesla CEO Elon Musk has been right about electric cars needing to be cool – but he’s been wrong about several other major aspects of the transportation business. Musk doesn’t like to be wrong, so he’s stuck to his guns when it comes to pitting Tesla against its competition and doubling down on various futuristic ambitions. His biggest mistake was in not understanding that self-driving cars would both steal electric vehicles’ thunder – and create a new business opportunity that Tesla couldn’t easily pursue. Tesla CEO Elon Musk is clearly feeling some stress. At Tesla’s annual shareholder meeting on Tuesday, he at times struggled to control his emotions while still rocking a very chic Belstaff motorcycle jacket (Musk’s fashionable jackets should have their own Twitter account). … [Read more...] about Elon Musk got one thing right about selling electric cars — but it’s not enough to save Tesla from his mistakes
The driver of a Tesla Model S that collided with a fire department vehicle in Utah last week reportedly told police that she had Autopilot engaged at the time of the crash. The South Jordan Police Department told news outlets on Monday that the driver, a 28-year-old woman, had been looking at her phone before the crash, during which the Tesla was traveling at highway speeds. Tesla says it is cooperating with the investigation. This is the latest in a series of Tesla crashes in recent months involving the company’s semi-autonomous driving Autopilot feature. The woman driving a Tesla Model S that collided with a fire department vehicle in Utah on Friday reportedly told police that Autopilot was engaged at the time, and that she had been using her phone just before impact. The vehicle was traveling at highway speed, and according to the Associated Press, it had not slowed down before … [Read more...] about Tesla Model S driver who collided with a fire department vehicle in Utah says Autopilot was engaged at the time of the crash
An army private has turned himself in to police to face charges in the shooting death of a driver at a checkpoint in Chiang Rai, for which a local official had been arrested earlier. Pvt Wanchai Champa was accompanied by his boss, Col Worathep Bunya, who commands the 17th Infantry Regiment in Phayao, to report to Provincial Police Region 5 in Chiang Mai before he was handed over to Mae Suai police for interrogation.The 22-year-old soldier faces four charges, including murdering Sornchai Sathitrakdamrong, 35, on the night of Jan 2 in Mae Suai district of Chiang Rai, after he failed to stop a car at a makeshift checkpoint at Ban Mae Tam. He was taking his girlfriend, Sirirat Yaepieng, to Chiang Mai at the time.A clip from his car camera showed the area was dark with dim flashlights and some hands gesturing the driver to stop.Sornchai was shot in the back of the head shortly after passing the checkpoint, losing control of his car which slammed into a roadside electricity pole.Loval … [Read more...] about ‘Real’ shooter surrenders in Chiang Rai killing