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Detroit Free Press covered the annual GM Analysts call this week and with the second quarter results it showed that GM has lost $800 million in the quarter but over all North American Earnings were breakeven and this was with 8 weeks of shutdown. Over all the Stock beat wall streets estimates and yet still sold off in large numbers during the pandemic closure. Analysts had plenty of questions for GM with a major question of will GM consider spinning off their technology arm which would include electric vehicles operations into a stand alone company? The idea of a stand alone GM Tech company is to recognize the advanced tech GM has over other auto companies and to unlock what Analysts see as considerable shareholder value. This new entity would allow access to cheap new capital to keep the old GM going till the new GM would replace it as a cutting edge tech auto company with what is seen as future strong growth. GM has reinforced it's future of all electric auto's, self driving auto's and what it expects to become a zero emission company with 20 new EV auto's on the market by 2023, the first being out in Q1 of 2021. The group of Analysts has suggested the new company be called Ultium based on GM's new battery tech. The CEO responded that GM is evaluating many scenarios for the future of GM. She had nothing further to say other than the board and executive team will consider all options for what is best for driving long-term shareholder value. Quote: "Nothing is off the table." Analysts have since added notes to their research suggesting that GM could already be considering this since so many start ups are valued more than GM such as Tesla, Nikola, Rivian, etc. The Billions of cheap dollars that could help drive GM long term into the future is hard to ignore. Some analysts say that to split the company would kill off the baby, meaning the EV side would die after the money was harvested from the stock sale as you only have the Chevrolet Bolt and the new company would have to follow Tesla in going back to the market for more and more money. This is based on what some analysts see as only a US/Canada interest in EVs compared to the rest of the world needing ICE. That being said it does show a clear line between those Analysts that see Europe and China leading in new tech with a change to EV's versus those Analysts that are more inline with the oil industry and imply that there is little to no interest in EV's. End result is WHAT WILL GM DO? I suspect GM will stay the course of using ICE auto's to fund the change to an all EV world. 50 years from now, people will be wondering why it took so long to dump ICE auto's in favor of EV's. What are your thoughts on this? https://www.freep.com/story/money/cars/general-motors/2020/08/01/gm-electric-vehicles-mary-barra/5549426002/
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Manufacturing Revamp? GM spoke out a week ago about a national electric vehicle mandate that they were in favor of. Tesla has reported a bigger than expected profitable quarter and if you Bing or Google National electric vehicle mandate, the stories covering this is huge with more auto companies in favor than against. GM, Honda and the State of California have all as of 10-26-2018 officially pushed back on Trump and his administration in regards to the U.S. fuel economy standards. The short story of what you can read at the bottom in the links is that they are saying the federal government should embrace a zero emission vehicle sales mandate nationwide with a program start date of 2021. Honda took it a step forward and said a nominal steady increase should continue on all auto's and not a freeze. To quote Mark Reuss, GM's executive vice president of global product development, "We know that we can do better than the Trump proposal. We know that the industry can do better than that." GM states that a nationwide program would put 7 million long-range electric cars on the road and slash 375 million tons of carbon dioxide emissions by 2030 compared with existing zero-emission mandates in this country. For details read the automotive news story as if really digs into the details of what is being called Faulty Modeling by the current administration and EPA. The story does quote the free-market Institute for Energy Research who says the existing standards are too aggressive penalizing suburban and rural consumers who are concerned about driving range and reliability. Industry uncertainty is very clear with some taking a big wait and see like FCA on one end and then GM, Honda and California on the other end saying the current administrations plan for revoking California's rule-making authority is flawed and should be scrapped. To quote Reuss in regards to a national electric car program: "It will facilitate more makers to be able to really focus on development of electric vehicles more efficiently, and take the guesswork out of what we think may or may not happen. We're making bets on a lot of uncertainty, which is highly destructive to capital." So what does this have to do with the title of "Fast Lane to EVs for GM? Some Think So!" Green car report got a no comment from GM when asked about a number of changes going on including upcoming announcements in regards to the Hamtramck plant which currently builds the Volt and is under utilized. The potential spin-off of Cruise Automation and or Maven, their profitable third quarter report and more according to multiple sources they say. To achieve the executive plan of Mary Barra of 20 new EVs by 2023 announced last fall GM is planning to make a series of manufacturing-location and development changes in motion to electrify it's fleet according to sources the story says. UAW and GM were in a give and take negotiations last year where the Buick LaCrosse, Cadillac CT6 and Chevrolet Impala were all on the possible kill off list as large sedans have struggled to sell in the current market lately. Some of these we know will continue on. GM has been cagey about the role of Plug-in hybrids with the slow selling of the Volt especially compared to the Toyota Prius Prime with a lower plug-in range, yet demand for the BOLT on the other hand has been very strong as GM has announced plans to expand production at the plant this year. GM's plan to unveil new long range electric CUVs also show that major changes in manufacturing will have to happen. GM is pushing ahead with a all new electric vehicle platform that will cover compact to full size electric long range auto's including family-sized crossovers. They have announced their all-new battery pack that will go into generation 2 EVs that will break the $100 / kWh barrier for lithium-ion packs allowing for a range of scale for both the China and US market along with the rest of the global market. This all comes on GM showing off their eCOPO Camaro that has an 800 volt battery pack very similar it would seem to the 800 volt pack that Porsche is using. This supports 700HP / 600 lb-ft of torque motors. Fast Charging that is 80% range in 15 min. it would appear that GM is embracing the future of automotive driving. Remember the Buick Enspire EV that has a 370 mile range battery pack, AWD with 550 HP with a 0 to 60 in 4 seconds. Then keep in mind while these are for China only, it would not be totally out of line for GM to change their mind and bring the Buick Velite 6 plug-in hybrid and long-range electric auto to the US after manufacturing starts in China. The Velite name used in China for all Hybrid and electric Buicks is currently on the Volt 2.0 platform, but the Velite 6 will be based on GMs new Modular compact to full size platform according to the Fool story. Buick Velite plug-in Hybrid will have a 435 mile range with battery pack / generator combo as it will use the new high-performance ternary lithium-ion battery pack built in the new GM battery plant in Shanghai. GM currently will not say much more about the new generation battery packs only they will release more info at a later date, possibly at an American auto show. Long story short, Motley Fool has a rare Double Down buy on GM stock with 20 new EV models for the global and US market, GM is showing true forward thinking that should place them well above other auto OEMs. GM has a $10,000 award for naming of their new $1,000 electric bike they are putting into production for sale across the U.S. According to GM the person responsible for naming this new foldable eBike will win $10,000 and all one needs to do is go to https://ebikebrandchallenge.com/call-for-entries to enter. You have till November 26th to enter. Nine finalist will win $1,000 each also. With the largest bike market being China, this totally makes sense for GM to get into and the U.S. as well as other markets will benefit from a bike that is assisted with electric drive to go nice and fast. So with so much electrification going on, why would one not expect GM to do a massive change in their manufacturing of auto's as they move to embrace a 36 month revolutionary role out or electric vehicles, bikes and who knows what else. Green Car Report Story Chicago Tribune Story on Mandate CNN National ZEV Mandate Story Automotive News story on Mandate Bing Search on Mandate Motley Fool story on Battery packs from GM U.S. Department of Energy PDF on GM's Li-Ion battery pack manufacturing eCOPO Camaro Media Release from GM GM eBike for Sale
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Electra Maccanica, can it do what Elio Motors has failed to do? In 2009 Elio Motors was founded with a idea to build a high mileage commuter auto-bike. This three wheeled auto-bike or trike as we call them was to be enclosed like a car, capable of carrying 2 people and a small amount of cargo and get 84 miles per gallon of gas all for $6,800 in the beginning and now asking $7,500. This during a crunch of high gas costs sent thousands to reserve and put a deposit down for one. Yet here we are 9 years later and still no delivery of the auto even though they run their website, have demo units across the country and collect reservations with a promise now of starting to build in 2018. In steps a Vancouver B.C. startup that has amassed an undisclosed amount of start up cash, has $4 Billion in orders, signed a assembly contract with a Chinese company and says building will begin Q1 of 2018 with first deliveries in 2019 of their 3 wheel EV version. 100 mile range, single person ultimate commuter auto. The Solo is designed to be the smallest and most efficient commuter trike around. ELECTRA MECCANICA The solo has the following stats: 100 mile range for 16.1kWh battery pack 137 mph top speed 0-60 in 8 seconds 3hr charge time on 220V 128 NM of Torque with 82hp Keyless entry, power windows, backup camera, AC, Heater, Defogger, Heated seat and AM/FM Bluetooth/USB/CD Stereo MSRP $15,500 Electra Meccanica says for no added fee, you can choose from Raven Black, Arctic White, Titanium Silver or Electric Red. They have a customize your Solo build tool and the web site invites you to build your Solo, then reserve it with a $250.00 refundable deposit. If the single seat commuter is not enough, they are also offering the Tofino two seater which has a 250 mile range, $1,000 dollar refundable deposit starting at $50,000 with delivery also in 2019. So what do you think?
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https://insideevs.com/chevy-offers-loaner-bolt-to-couple-who-lost-tesla-model-s-to-fire/ This is an interesting story on insideevs about a Tesla S that catches fire and burns down and Chevrolet coming to the assist of loaning them a Bolt to continue to drive around till things get resolved. On street person recorded this and posted it: Some funny tweets on this:
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Investing in Zero Emission Auto's by the Auto Alliance To Quote the Auto Alliance website: "The Auto Alliance, the leading advocacy group for the auto industry, represents 70% of all car and light truck sales in the United States, including the BMW Group, Fiat Chrysler Automobiles, Ford Motor Company, General Motors Company, Jaguar Land Rover, Mazda, Mercedes-Benz USA, Mitsubishi Motors, Porsche, Toyota, Volkswagen Group of America and Volvo Car USA.Headquartered in Washington, DC, the Alliance also has offices in Sacramento, California and Detroit, Michigan." This dedicated group of businesses sent a letter to the governors of the following nine states, Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island and Vermont. This group of states have not only embraced making CARB their states mandate for emissions but also have implemented the California's Zero Emission Vehicle mandate (ZEV). Yet with this done at the government level, holding their own agencies accountable to buying ZEV auto's and using them as well as having incentives to get people to buy ZEV auto's has stalled with electric vehicles sitting on dealership lots. The Auto Alliance states that as of June 11th there are 58 ZEV models on sale, including 34 plug-in hybrids, 21 battery electric and 3 hydrogen fuel cells according to the Department of Energy's www.fueleconomy.gov website. As stated by the Alliance, by 2021 there is expected to be 80 models of ZEVs on sale and action now by ZEV states are important to increasing sales and helping to reach the ZEV targets that these states have mandated. Quoting the Auto Alliance website: "In 2017, ZEVs represented 1.15% of total sales nationwide, or about 190,000 vehicles out of 17.1 million new vehicles sold. By 2025, under the CA mandate, sales of ZEVs are required to be 15.4% of total sales." Full details of the ZEV Mandate can be found here. Want to see how your state is impacted by the Auto industry, check out this map and click your state for a large amount of details on this. https://autoalliance.org/in-your-state/ Here is how Washington State is impacted by the auto industry:
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AAA latest survey find 1 in 5 want an EV now! AAA latest survey results of auto's, the type wanted and what people love or hate has really shown big changes. 20% of America or 50 million want an EV auto up from 15% in 2017. AAA survey found the biggest fear on EV auto's was range anxiety and that is dropping month by month as people new to EV technology see how it fits into their everyday life. While range anxiety is one of the top fears, what has changed is that more people like the reliability of EV or Hybrids over traditional petro powered auto's. On top of this is the reduced maintenance EVs bring, more technology as society embraces it with acceleration, handling and safety technology being mentioned. Some really good info, check out the story below. https://newsroom.aaa.com/2018/05/1-in-5-us-drivers-want-electric-vehicle/
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OK, Thought about this and realized it would be good to have a thread on what commercials are out there about alternative powered auto's. VOLT Commercial Gotta say i LOVE THIS VOLT commercial. Snakes taste like Brussel Sprouts! So post what commercials you see for alternative Powered auto's.
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G. David Felt Staff Writer Alternative Energy - www.CheersandGears.com 20 years from EV1 to Bolt EV Green Car Reports did an outstanding job on reviewing the last 20 years from the GM ev1 to the Chevy Bolt EV. This is a very solid read for anyone that is interested in knowing where we started and are at today with the EV. Good writeup and some very interesting news about the EV industry and reconfirmation of what is being done.
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G. David Felt Staff Writer Alternative Energy - www.CheersandGears.com Bloomberg Predicts another OIL Crash with NO Recovery, Maybe Many of us are excited with the big drop in oil prices and finally gas prices retreating to below $2 a gallon in many places around the US. Some here on Cheers and Gears even feel that alternative energy auto's are a waste of time or should not even be bothered with. So it was with interest when I saw this story on Bloombergs web site. Another Oil Crash Is Coming, and There May Be No RecoveryThe focus on this is that with Tesla in 2017 and Chevy later this year, 2016 beginning to sell 200 Mile, $30,000 auto's, other Auto OEMs spending Billions to also field electric auto's with long battery pack range that the days of Dino powered auto's are limited. Bloomberg clearly states that OPEC and even ExxonMobil have reported that they only see EV auto's making up 1% at most by 2040 on the planet. What no one saw was the Huge growth in US oil fields in 2014 and a global glut of 2 million barrels of oil a day sitting on the market. Bloomberg reviewed world wide data to see that EV Auto's grew by 60% in 2015, show no signs of slowing down among governments push to reduce smog in cities around the world. Based on buying trends and who fast things can change, Bloomberg is predicting that by 2023 we will see another 2 million barrels of Oil being unused on the market leading to this prediction of another crash and the power of the Oil Companies being reduced. The video they have on their story is also very interesting to watch and listen too. Review the original story, watch the video and sound off on what you think of the OIL Industry and where we are headed with auto's! Bloomberg Oil Crash Story
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