麻豆传媒 Weekly Automotive Report
Analysis by Julie Dautermann, Competitive Intelligence Analyst
This report helps automotive suppliers inform their legal and operational decisions to help address challenges and opportunities. Contact your 麻豆传媒 relationship partner, or John R. Trentacosta or Ann Marie Uetz, to follow up.
Key Developments
- U.S. new light-vehicle sales in October reached an estimated SAAR of to , representing an increase from September 2021, but a decline of over 20% year-over-year.
- U.S. fleet sales reached an 1.39 million units for January – October, 42% lower than for the same period in 2019 and just 1% higher compared to the same period in 2020.
- from IHS Markit addresses concerns over the stability of magnesium supplies, which have recently experienced significant price increases.
- The U.S. House of Representatives a bipartisan $1.2 trillion infrastructure that is expected to be signed by President Biden.
- The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) the Emergency Temporary Standard (ETS) pertaining to COVID-19 vaccination requirements for large private employers. Subsequently, a federal appeals court in New Orleans temporarily in order to pursue additional briefing on the matter [This topic continues to evolve].
- Ford the majority of its U.S. salaried workforce to be fully vaccinated against COVID-19 by December 8.
- Autonomous truck companies , and , recently announced updates involving collaborations with GE Appliances, Walmart, and UPS, respectively.
- Electric vehicles and low emissions technology:
- Rivian raised its IPO price range according to an updated , and it now reflects a potential valuation of approximately $65 billion.
- GM of the Chevrolet Bolt at its Orion Assembly Plant in Michigan for three weeks beginning November 15.
- The U.S. Department of Energy to Daimler Trucks North America, Ford Motor Co., General Motors, Paccar Inc. and Volvo Group North America as part of its SuperTruck 3 initiative to advance electrified truck technologies.
- The Illinois legislature recently passed a number of tax incentives for EV manufacturers as part of .
Market Trends and Regulatory
- The Michigan Department of Environment, Great Lakes and Energy for Stellantis’ new Jeep assembly plant in Detroit. The automaker intends to to repair the violation by year-end.
- U.S. borders have reopened to fully vaccinated noncitizen travelers</strong>; more detail on can be found via the State Department.
OEMs/Suppliers
- Toyota a 33% increase to net income for the July – September period, and raised its full-year operating profit forecast by approximately 12% to 2.8 trillion yen for the fiscal year ending March 31, 2022.
- Honda a 31% drop in its fiscal second quarter profit, and its full-year profit forecast from $5.9 billion to $4.9 billion for its fiscal year ending March 31, 2022.The revision is due to the effects of the ongoing chip shortage, as well as rising material costs.
- GM over $46 million to upgrade its metal stamping plant in Parma, Ohio in order to support future vehicle programs.
- DuPont engineering materials maker Rogers Corp. for approximately $5.2 billion, to assist with growth opportunities in advanced auto electronics and electric vehicles.
Connected/Autonomous Vehicles and Mobility Services
- Autonomous delivery vehicle developer Nuro in a Series D funding round from investors including Tiger Global Management and Kroger.
- Alphabet’s self-driving unit, Waymo, will use lidar-equipped vehicles to start . Waymo has not announced plans to test or launch autonomous vehicles commercially in the city.
- Waymo named as its first director of diversity, equity and inclusion. Riahi was most recently with Autodesk.
Electric Vehicles and Low Emissions Technology
- Tesla and Hertz are to be discussing the timetable for fulfilling the rental car company’s recent of 100,000 Tesla Model 3 sedans, which CEO Elon Musk were not part of a formal deal.
- Nikola Corp. has set aside $125 million, and may seek reimbursement from its founder, for a with the U.S. Securities and Exchange Commission over fraud allegations.
- The Department of Justice has opened an investigation into EV startup Workhorse, according to . The company was to be under investigation by the Securities and Exchange Commission.
- Fisker Inc. with Chinese battery maker Contemporary Amperex Technology Co. Ltd (CATL) for its flagship model, the Fisker Ocean SUV.
- Tesla issued a affecting nearly 12,000 vehicles to address false collision warnings resulting in unnecessary automated emergency braking in vehicles operating its Full Self-Driving Beta software.
