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Week 1, August 2022 Mobility News Archive



  • 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

  • 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

(Source: Kodiak)

  • Germany to reduce subsidies for EV buyers next year as it became popular in the market


  • 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


  • 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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