NEWS
Automotive
GM Q2 2022 results: missed Wall's estimation. $35.8B revenue (1.6B increased yoy, $33.6B expected); $1.14 adjusted earnings per share ($0.83 decreased yoy, $1.20 expected); 6.6% adjusted margin (5.4ppt decreased yoy); maintaining earnings guidance for this year (full report)
GM's Cruise lost $500M in Q2; expects $50B revenue annually from robotaxi service by 2030
GM Korea resumed production in 2 factories
Ford Q2 2022 results: beat Wall's estimation. $40.2B revenue ($13.4B increased yoy); $0.68 adjusted earnings per share ($0.55 increased yoy); 9.3% adjusted margin (5.4ppt increased yoy); $667M net income ($106 increased yoy); keeps the full year guidance and to raise quarterly dividend (full report)
Stellantis 1H 2022 results: beat profit forecast. €88B net revenue (17% increased yoy); €8B net profit (34% increased yoy); €12.4B adjusted operating income (44% increased yoy); 14.1% adjusted operating income margin (2.7ppt increased yoy) (full report)
Volkswagen Q2 2022 results: €69.5B sales revenue (3.3% increased yoy); €4.5B operating result (31.2% decrease yoy); 6.5% operating return on sales (3.4ppt decreased yoy); keeps full year profit target; still aims to Porsche's IPO this year (full report)
Volkswagen to sell a car assembly factory in Kaluga, Russia; Kazakhstan Asia Auto may buy it
Mercedes-Benz Q2 2022 results: €36.4B revenue (7% increased yoy); €8.5B gross profit (7.6% increased yoy); €4.9B adjusted EBIT (8% increased yoy); €2.91 earnings per share (€3.36 diluted EPS in Q2 2021); raised full year financial guidance with a better chip supply expectation and reduced gas usage (full report)
Bentley 1H 2022 results: 29% higher revenue yoy; doubled operating profit; 3% higher global sales; 15% higher revenue per car
Toyota to invest $1.8B in Indonesia for EV production over 5 years
Hyundai to buy more stakes in 42dot, a Korea based autonomous driving startup
Hyundai to pay $19.2M fine and restitution in the US due to inaccurate customer credit reporting
Apple hired Lamborghini executive for its EV project
Pony.ai and Sany Heavy Truck, a Chinese heavy equipment company, to establish a JV to make level 4 self-driving trucks
Rivian started a restructuring with 6% workforce laying off
Kodiak Robotics completed a 5,600 mile coast-to coast test trip with its commercial delivery truck
Germany to reduce subsidies for EV buyers next year as it became popular in the market
Lastmile_Micromobility_Logistics
Cruise is mapping Dubai for a robotaxi service launching in 2023
Bolt stopped its operations in several US cities; its employees and investors are unable to reach
The acquisition of Zeelo by Swvl was terminated due to financial market volatility
Drover AI, an IoT module provider for shared micromobility, raised $5.4M Series A funding
Battery_Material
LG Energy Solution seeks a location for its new battery plant in Europe
US Energy department to loan $2.5B to Ultium Cells, a joint venture of GM and LG Energy Solution, for new EV battery cell plants
GM signed on deals with LG Chem and Livent Corp to secure raw materials for EV batteries
SK to spend $5B in EV charging systems, battery materials and recycling in the US as a part of its $22B investment plan
Redwood Materials to invest $3.5B in a battery materials plant in Nevada
and more
JetBlue to acquire Spirit for $3.8B and become 5th largest airline in the US
Russia not to continue a collaboration for International Space Station; to build its own station
New features in Google Maps: 100 landmarks aerial and immersive views, detail cycling routes, arrival/departure notifications; launched street view in India
More Readings...
Zoox robotaxi with supercar DNA rolls toward SF, Vegas, Seattle streets (TechCrunch)
First impressions of the Nimbus 3-wheeled urban transportation pod (TechCrunch)
After 50 years pioneering satellite imagery, NASA's Landsat is ready for 50 more (TechCrunch)
Tiny Bolivian automaker bets it can tap world's largest lithium deposit (Reuters)
U.S. Senate Democratic electric vehicle tax credit plan faces questions (Reuters)
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