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Weather Man

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Carvana threatened with Florida dealer license removal after title transfer issues

CVNA -7.80%Dec. 20, 2021 1:43 PM ET7 Comments
  • Carvana (CVNA -7.3%) shares drop on reports that Florida has threatened to suspend the company's dealer license after issues with title transfers.
  • In an email, the Florida Department of Highway Safety and Motor Vehicles wrote that it “remains concerned with Carvana’s apparent inability to comply with the provisions of Florida law requiring a dealer to apply for title within 30 days of the sale and the impact that has on Florida consumers.” The email gives a deadline of Jan. 31, 2022 before the FDHSMV warns that it may commence administrative action to suspend Carvana’s dealer license in Florida.
  • The email exchange included a list of 300 vehicle sales where the title is still awaiting transfer, including 100 in Florida. Seeking Alpha previously reported on customer complaints and state disciplinary actions against Carvana.
 

Weather Man

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Nikola gains after delivering its first zero-emission truck to a customer

NKLA -0.21%Dec. 23, 2021 7:01 AM ET4 Comments
  • Nikola Corporation (NASDAQ:NKLA) is higher in early trading after the company says it made its first customer delivery of a Tre zero-emission truck to Total Transportation Services in Southern California. Yesterday, Nikola announced that it inked a deal with Total Transportation Services for an order for up to 100 zero-emission trucks.
  • Shares of Nikola are up 5.32% premarket to $9.90 vs. the 52-week trading range of $8.86 to $30.40. NKLA is down more than 40% over the last six months.
  • The company is looking to move past the Trevor Milton era after reaching a resolution with the SEC on matters pertaining to its founder.
 

Weather Man

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A lot of rare earth needed.

Electric vehicle roundup: Tesla, Rivian lead as traditional automakers plan 13 US battery plants by 2025

TSLA +4.25%Now!
  • The electric vehicle sector is seeing mixed results despite strong results by Tesla (TSLA +4.2%) and Rivian (RIVN +6.4%).
  • Last week, the Department of Energy reported that 13 new U.S. electric vehicle battery plants are announced and expected to be operational by 2025 in addition to Tesla's Austin gigafactory. The opening of battery plants by traditional automakers Ford (F +2.8%), General Motors (GM +0.9%), Stellantis (STLA +1.8%), Toyota (TM +1.2%), and Volkswagen (OTCPK:VWAGY -0.4%) highlights the shift from ICE vehicles to EVs.
  • Other notable gainers include Hyzon Motors (HYZN +5.7%) and Lucid Group (LCID +2.0%). Meanwhile, Nio (NIO -1.4%), Nikola (NKLA -0.7%), Xpeng (XPEV -0.6%), Li Auto (LI -2.4%), and Workhorse (WKHS -4.3%) are in the red.
  • Tesla is on the way to its largest four-day gain since March but is still down 3.7% in December. If the loss holds, it will be Tesla's worst month since falling nearly 12% in May 2021. The automaker recently informed the NHTSA that it would disable its "Passenger Play" feature, which allows games to be played on the central touchscreen, while its cars are in motion.
  • Goldman notes that Tesla is the stock with the tenth largest disparity in analyst price targets. See which stock leads the list here.
 

CompOrange04GT

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Carvana threatened with Florida dealer license removal after title transfer issues

CVNA -7.80%Dec. 20, 2021 1:43 PM ET7 Comments
  • Carvana (CVNA -7.3%) shares drop on reports that Florida has threatened to suspend the company's dealer license after issues with title transfers.
  • In an email, the Florida Department of Highway Safety and Motor Vehicles wrote that it “remains concerned with Carvana’s apparent inability to comply with the provisions of Florida law requiring a dealer to apply for title within 30 days of the sale and the impact that has on Florida consumers.” The email gives a deadline of Jan. 31, 2022 before the FDHSMV warns that it may commence administrative action to suspend Carvana’s dealer license in Florida.
  • The email exchange included a list of 300 vehicle sales where the title is still awaiting transfer, including 100 in Florida. Seeking Alpha previously reported on customer complaints and state disciplinary actions against Carvana.


Girlfriend bought her Altima in September ..

Still doesn’t have a tag from carvana
 

Weather Man

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Technical issues, lack of marketability, and the underdeveloped charging infrastructure are to blame.​

It was only a couple of days ago when The Korea Economic Daily reported on Hyundai's yet-to-be-confirmed decision to shut down its R&D center for combustion engines. Fast forward to today, we're hearing a somewhat similar report regarding hydrogen research. According to The Chosun Ilbo, plans to pursue a third-generation fuel cell stack have been abruptly halted.

If true, the decision comes as a surprise since the company's Hydrogen Vision 2040 was presented just a few months ago. It is believed a recent internal audit revealed the South Korean brand is unable to meet the original target in terms of production cost reductions. Apparently, the Genesis hydrogen car had been in development for over a year and was supposed to come to fruition in 2025.

Hyundai studies on fuel cells
© Motor1.comHyundai studies on fuel cells
It should be noted The Chosun Ilbo specifies Hyundai has not completely abandoned the project, but the situation is not looking great either. Aside from running into technical issues, other roadblocks are represented by the lack of marketability and the underdeveloped charging infrastructure. Sources close to the matter cited by the Korean daily newspaper claim the decision was taken last month after an in-house revision of the project. The fuel cell division has already been reorganized and the R&D team is now "greatly reduced."

As you may recall, the Genesis FK concept unveiled in September served as a window into the Hyundai Motor Group's hydrogen future. Likely a two-door test mule loosely based on the Kia Stinger judging by its appearance, the sports car was touted as having more than 671 horsepower (500 kilowatts) for a 0 to 62 mph (100 km/h) run in less than four seconds.

Different Takes On Hydrogen Tech:​

The rear-wheel-drive Genesis FK had a mid-mounted hydrogen fuel cell and enough juice for more than 373 miles (600 kilometers) of range. Interestingly, the FK was labeled as a plug-in hybrid equipped with a fuel cell energy converter. In other words, the hydrogen stack was conceived to recharge a fairly large battery mounted within the axles. Suffice it to say, the FK was a lot more interesting than the Nexo crossover.

Source: The Chosun Ilbo
 

Weather Man

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The 3.0-liter GMET6 HO was briefly listed as already being in production at the Saltillo Engine Plant.​

Reports about a new six-cylinder "Tornado" engine from FCA Stellantis have been swirling around the Internet for many years. By the looks of it, an official reveal could finally be happening in the near future. Following a patent filing for a turbocharged inline-six discovered back in November 2019, the official website of the world's fourth-largest automaker briefly listed a new "3.0-liter GMET6 HO" engine.

An eagle-eyed member of the Allpar forums stumbled upon the juicy piece of information while browsing the section of the website dedicated to the Saltillo Engine Plant. Apparently, the new Global Medium Engine Turbo Six has been in production at the Mexican factory in Ramos Arizpe, Coahuila since November 22. The use of the "HO" letters suggests Stellantis has kicked off the assembly of a high-output configuration.

3.0-liter GMET6 HO engine appears on Stellantis website
© Motor1.com3.0-liter GMET6 HO engine appears on Stellantis website
While this sounds quite promising, it should be noted the "3.0-liter GMET6 HO" has already been removed from that page. We will get in touch with Stellantis to find out what's what, and in the meantime, the engine in question supposedly boasts a twin-turbo setup and is derived from the existing four-cylinder, 2.0-liter unit.

From what we've heard, there are plans to put the inline-six in a variety of North American products, specifically the Jeep Wrangler, Gladiator, Grand Cherokee, and Wagoneer / Grand Wagoneer, as well as the Ram 1500. Confirmed details regarding how much power it produces are not available at this point, but an old rumor suggests the HO variant could produce in excess of 500 hp. The base version is said to deliver approximately 360 hp, but take these numbers with the proverbial pinch of salt.

The Inline-Six Is Still Going Strong:​

A potential launch of the Tornado engine could represent the beginning of the end for the V8, especially since the inline-six has allegedly been developed with electrification in mind. A long-rumored plug-in hybrid configuration would allow Stellantis to offer decent power in its largest vehicles while meeting increasingly stringent fuel economy regulations.

Source: Allpar
 

SID297

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Now I'm getting that urge to buy something with a Ford 300 I-6 in it. Maybe a generator to charge a Mach E???

326346-5.jpg
 

Weather Man

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Knew this.

By model year 2026, automakers have to meet or exceed the fleetwide average 55 mpg for cars and light trucks. That’s a considerable increase over the 43-mpg standard which was set for the 2026 model year during the Trump administration. For comparison, the fleetwide mileage standard for the 2021 model year is 40 mpg.

Didn't know this.

Don’t think the EPA is done here, not by a long shot. The federal agency announced it plan to initiate a separate round of rulemaking for new multi-pollutant emissions standards using the Clean Air Act. Those will be aimed at 2027 model year vehicles. The whole point of this is to get cars and light trucks in the United States to zero (tailpipe) emissions per President Biden’s Executive Order titled “Strengthening American Leadership in Clean Cars and Trucks.”
 

Weather Man

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The S650 could go hybrid and even AWD.​

Having been around since 2015, it's safe to say the S550 Ford Mustang is getting a bit long in the tooth. Nevertheless, the next-generation pony car might still take a while to arrive provided a new report from Autoline is to be believed. Citing global automotive forecasting database provider AutoForecast Solutions, video host Sean McElroy says the S650 model won't enter production until March 2023.

If the report is to be believed, it could mean the S650 Mustang will arrive for the 2024 model year rather than 2023MY as originally believed. Ford is likely to overhaul the recipe by adopting a hybrid powertrain to keep up with tougher fuel economy regulations. However, the electrified derivative might not be available from day one, with the Blue Oval possibly waiting until the mid-cycle refresh.

We've also heard through the grapevine the world's most popular sports car could adopt an all-wheel-drive setup for the very first time. Lending credence to the gossip are spy shots from February 2021 of a test mule based on the current 'Stang, which our professional photographers claimed sent power to both axles.

The next-gen Mustang won't be an all-new development as it's believed to ride on an updated platform borrowed from the existing model. Expect the usual 2.3-liter EcoBoost four-cylinder engine to be joined by the Coyote 5.0-liter V8 and possibly by the supercharged Predator 5.2-liter V8 later on. The hybrid system we mentioned earlier appears in a LinkedIn account belonging to someone who claims he worked on the S650 program.

As a final note, the very same Autoline speculated at the beginning of the year an all-electric Mustang two-door sports car is bound to enter production in December 2028. If true, it would mean the upcoming S650 will be the very last to offer a combustion engine and have a life cycle of a little over five and a half years.

Source: Autoline Network / YouTube
 

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Return of the Buick Electra? New trademark application suggests it's on the way - Classic name set to be resurrected on electric model​

By Gary Gastelu | Fox News

File this one under "what took so long?" General Motors has applied for a new trademark on the Buick Electra name.
The Buick Electra concept was revealed in China last year.

The Buick Electra concept was revealed in China last year. (Buick)

The moniker was previously used on a series of Buicks built from 1959 to 1990, but has been dormant since.

The Electra name was used on a series of models built from 1959 to 1990.


However, Buick debuted an all-electric Electra concept SUV in China last year that's built on GM's new Ultium platform, which will underpin all of its future battery-powered models.

The Buick Electra concept is an SUV.


The name obviously lends itself to such a vehicle and GM also trademarked it in Canada, which is no guarantee one will enter production, but certainly suggests something is in the works.

While GM has already announced plans for electric Cadillacs, like the Lyriq, and electric pickups from Chevrolet and GMC, it hasn't yet offered any concrete information its plans for battery-powered Buicks.

Buick's current U.S. lineup is entirely composed of SUVs and includes the Envision, which is imported from China.
 

Weather Man

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$55b battery IPO to be Korea's largest

Jan. 03, 2022 8:04 AM ET
  • Korea's largest EV battery maker, controlling nearly 25% of the global market, has begun taking orders for an IPO that would make it Korea's largest.
  • With customers like GM (NYSE:GM), Ford (NYSE:F), Tesla (NASDAQ:TSLA), and Volkswagen (OTCPK:VWAGY), LG Energy Solutions is set to fetch $10b+ in the IPO at a valuation of $55b, surpassing the valuation of its parent LG Chem (OTCPK:LGCLF).
  • The IPO bookrunners will look to place 42.5m shares, with 34.0m being primary shares, and the remainder being sold by the Parent.
  • A portion of the proceeds will likely be used to fund a settlement with GM related to defective Chevy Bolt batteries.
 

Weather Man

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Toyota aims to develop and license software for next-gen vehicles​

Jan. 03, 2022 11:58 AM ETToyota Motor Corporation (TM)F, GM, VLKAFBy: Clark Schultz, SA News Editor7 Comments

Toyota office building in Cologne, Germany

ricochet64/iStock Editorial via Getty Images


  • Toyota Motor Corporation (TM +0.3%) plans to develop its own automotive software platform by 2025 in a move that could put it in the same category as Tesla, Volkswagen and tech players like Waymo and GM's Cruise, sources tell Nikkei.
  • The Arene operating system is expected to handle everything from basic functions to advanced applications like autonomous driving.
  • The big picture: The Japanese automaker aims to develop a software standard for the next generation of vehicles that could be made available to affiliates like Subaru and potentially licensed to create a new revenue stream.
  • Last month, Toyota Motor (NYSE:TM) made its 30 by 30 announcement. The Japanese automaker says it will introduce 30 new all-electric cars by 2030, which places it on the same all-electric trajectory of Ford (NYSE:F), General Motors (NYSE:GM) and Volkswagen (OTCPK:VLKAF).
 

Weather Man

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Read the original article on Business Insider

Mercedes-Benz revealed a sleek electric car with Tesla-crushing range, solar panels, and a 47.5-inch screen​

  • Mercedes-Benz unveiled the Vision EQXX, an electric concept car with 620-plus miles of range.
  • Its aerodynamic design and lightweight materials contribute to that efficiency, Mercedes says.
  • The EQXX previews things Mercedes could incorporate into future electric cars.
Read the original article on Business Insider
 

Weather Man

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Ford to pump up production of all-electric F-150 to 150K units annually​

Jan. 04, 2022 6:31 AM ETFord Motor Company (F)By: Niloofer Shaikh, SA News Editor3 Comments

Logo of Ford at a car dealership

gopixa/iStock Editorial via Getty Images


  • Ford Motor Company (NYSE:F) is planning to nearly double the annual production of its electric F-150 Lightning pickup truck at the Rouge Electric Vehicle Center in Dearborn to 150,000 trucks per year based on a high number of advance reservations.
  • “With nearly 200,000 reservations, our teams are working hard and creatively to break production constraints to get more F-150 Lightning trucks into the hands of our customers,” said Kumar Galhotra, president of The Americas & International Markets Group, Ford Motor Company. “The reality is clear: People are ready for an all-electric F-150 and Ford is pulling out all the stops to scale our operations and increase production capacity.”
  • In December, the automaker announced that it would triple production of the electric Mustang Mach-E built in Mexico and expects to reach 200,000-plus units per year by 2023.
  • Ford’s all-electric van, the 2022 E-Transit, goes on sale early this year.
  • Shares up 1.7% premarket.
  • Also read: Ford starts off 2022 with a rally to a new high
 

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