Tag: electric (Page 9 of 15)

GM Loans $40 Million to Firm to Acquire, Retool Shuttered Lordstown, Ohio, Factory

December 9, 2019 / WIL BALDWIN

FILE PHOTO: The GM logo is seen at the General Motors Lansing Grand River Assembly Plant in Lansing.

WASHINGTON (Reuters) – General Motors Co <GM> confirmed on Monday it agreed to loan $40 million to an electric vehicle start-up to facilitate the acquisition of its shuttered Lordstown Assembly plant in Ohio.

Lordstown Motors Corp, which is 10% owned by Workhorse Group Inc <WKHS>, bought the plant and equipment for $20 million in November as part of its ambitious plan to begin building electric pickup trucks by the end of 2020.

The loan agreement, which was reported earlier Monday by the Business Journal in Youngstown, was filed in Trumbull County last week.

Lordstown Motors has been working on the engineering of the new truck, “Endurance”, and hired Rich Schmidt, a former director of manufacturing at Tesla Inc, as chief production officer.

“We structured the sales agreement to help support Lordstown Motors’ launch plans for the Endurance pickup,” GM spokesman Jim Cain said, who added it “allows them to take possession of the plant and to cover some operating expenses while they undertake their capital raise.”

GM is not investing in the venture, but Cain said GM financing could rise to $50 million.

The fate of the sprawling northeastern Ohio plant became a political lightning rod after GM announced its planned closure in November 2018, drawing condemnation from U.S. President Donald Trump and many U.S. lawmakers.

Lordstown CEO Steve Burns told Reuters last month he hopes to have pre-production prototypes coming off the assembly line by April and to start production by November 2020 with an initial workforce of 400 hourly workers.

Burns said last month the company hopes to raise more than $300 million, the Business Journal reported. Burns told Reuters it retained Ohio investment bank Brown Gibbons Lang & Co in its capital fundraising effort.

GM and South Korea’s LG Chem <051910.KS> said Thursday they will invest $2.3 billion to build an electric vehicle battery cell joint venture plant in Ohio which will be one of the world’s largest battery facilities.

The plant, to be built near the Lordstown complex, will employ more than 1,100 people, the companies said.

As part of the Lordstown sale, GM has the option to lease land near the assembly plant that it could use for the battery plant.

(Reporting by David Shepardson; Editing by Sonya Hepinstall)

Tesla Move will Draw Further Companies into Germany

December 1, 2019 / WIL BALDWIN

FRANKFURT (Reuters) – Tesla’s announcement earlier this month that it will build its first European factory near Berlin will draw further companies from the electric mobility and energy storage sectors into Germany, a state premier told newspaper Die Welt.

“They are already on their way. I’m hearing there are further inquiries with the communities and the regional business development programme. Tesla will cause other companies to follow,” said Dietmar Woidke, premier of the eastern German state of Brandenburg that surrounds Berlin.

He said Brandenburg was already in talks with other companies, declining to identify them due to confidentiality agreements. “I expect that we can announce it before Christmas,” Woidke said.

Tesla’s move is a big boost for Germany as a centre for manufacturing after BMW and Daimler in recent years chose to build new factories in Hungary, and after its auto industry was hit hard by Volkswagen’s admission in 2015 that it cheated U.S. diesel emissions tests.

(Reporting by Christoph Steitz; Editing by Mark Heinrich)

Brandenburg’s PM Woidke speaks speaks to the media on Tesla European factory in Potsdam

Daimler to Ax at Least 10,000 Jobs in Latest Car Industry Cuts

November 30, 2019 / WIL BALDWIN

FRANKFURT (Reuters) – Daimler said on Friday it will cut at least 10,000 jobs worldwide over the next three years, following others in the industry as they cut costs to invest in electric vehicles while grappling with weakening sales.

It marks the third announcement on cost cuts this week by a major German car company as automakers seek to fund huge investments into cleaner and self-driving technologies while demand in China, their biggest market, is falling and a trade war between Washington and Beijing is curbing economic growth.

“The automotive industry is in the middle of the biggest transformation in its history,” Daimler said in a statement.

Daimler, the owner of Mercedes-Benz, revealed the 3% cut in its workforce after reaching an agreement on its plans with labor unions.

They have agreed on a variety of measures to cut costs and jobs, including expanding part-time retirement and a severance program to be offered in Germany. The company is also cutting 10% of worldwide management positions.

Staff reductions would be in the low five-digits, or at least 10,000 people, according to Wilfried Porth, a board member in charge of human resources. The company employed 304,680 staff at the end of the third quarter.

Plans laid out by Daimler in November showed the company aimed to cut staff costs by around 1.4 billion euros ($1.54 billion) by the end of 2022.

The announcement comes days after Volkswagen’s <VOWG_p.DE> luxury car unit Audi said it would cut up to 9,500 jobs or one in ten staff by 2025, freeing up billions of euros to fund its shift toward electric vehicle production.

Also this week, BMW said that its management and labor had reached an agreement on measures to reduce bonus and other pay schemes for staff to cut costs.

Car suppliers Continental and Osram have also announced staff and cost cuts.

Daimler has repeatedly cut its profit outlook over recent months, partly to cover a regulatory crackdown on diesel emissions but also because of a slowing auto market.

Group operating profit will be “significantly lower” than a year ago, the company said last month.

Other measures to reduce staffing costs include offering shorter working weeks.

Agreements in place to prevent forced redundancies in Germany until 2029 will remain in place, Daimler said.

The workforce needs a clear strategy for the future, said Michael Brecht, chairman of Daimler’s works council. “A reduction in capacity must not be carried out on the backs of the employees,” he said.

(Editing by Elaine Hardcastle)

The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin

Lincoln Electric SUV to use Ford-backed Rivian ‘Skateboard’ Chassis

November 28, 2019 / WIL BALDWIN

DETROIT — A battery-powered Lincoln SUV, due in mid-2022, will be the first Ford Motor Co. vehicle built on a custom electrified chassis that resembles a skateboard, which was developed by Ford-backed startup Rivian, according to several people familiar with the program.

The all-wheel-drive Lincoln SUV could compete against Rivian’s R1S, an electric sport utility vehicle slated to go into production in early 2021 that will be priced from $72,500. Both models will use Rivian’s so-called skateboard, a flexible platform that combines electric motors, batteries, controls and suspension.

On Tuesday, Ford declined to comment. Rivian did not respond to a request for comment.

The new Lincoln, which carries the internal program code U787, also could compete with premium offerings from others, including General Motors Co, which plans to introduce at least two new electric SUVs by 2023, one for Cadillac and one that could revive the Hummer name, sources have said.

Ford invested $500 million in Rivian this year and plans to help it begin production next year at a former Mitsubishi plant in Normal, Illinois.

When Ford made the investment, it said it would use Rivian’s skateboard to develop its own electric vehicle, but did not disclose details.

It is not clear where Ford intends to build the Lincoln SUV, which will be among the first of several battery-powered utility vehicles planned for Ford’s premium brand in North America and China, according to supplier sources familiar with those programs who asked not to be identified.

Ford expects to introduce a compact Lincoln electric crossover in late 2021 or early 2022 and a mid-size companion in 2023, the sources said.

The U.S. auto industry plans to invest billions of dollars over the next few years to build all-electric pickups and SUVs, sectors of the market that have been among the most profitable, especially for Detroit-based automakers.

But analysts have questioned whether demand from consumers and commercial customers will come close to matching production.

Founded in 2009, Rivian has raised $1.9 billion from investors, including e-commerce giant Amazon, which has ordered 100,000 electric delivery vehicles from Rivian. The first Amazon vans will be built in Normal and are to be delivered in 2021.

Ford aims to sell an electric F-series pickup in late 2021, sources have said. It also will offer the electric Mustang Mach E SUV next year as part of plans to invest $11.5 billion by 2022 electrifying its vehicles.

First Hitachi-built Paragon Train Arrives in Hull, England

November 27, 2019 / WIL BALDWIN

Hull Trains has invested £60 million into five state-of-the-art, bi-mode intercity trains – known as Class 802s– which will transform rail travel from Hull to London.

The fleet – which is built using Japanese bullet train technology – offers a sleek modern design, faster acceleration and longer carriages, offering more space and seats.

Once fully operational, people will benefit from 5,500 extra seats a week, greater reliability and a quieter and smoother ride. The fleet of new high-speed trains are being rolled into passenger service at intervals, with the full Paragon fleet expected to be in passenger service by early 2020.

Louise Cheeseman, managing director, said she was confident the Paragon fleet would revolutionise train travel between Hull and London.

“We have made a significant investment in these hi-tech trains which will completely overhaul the current service as our customers know it,” she explained.

“Not only will these trains give a smoother ride, they will be a lot more reliable than our existing trains, they will include complimentary Wi-Fi, plug and USB sockets throughout, a brand new at-seat trolley service and an even greater choice and improved quality of hot and cold food. We are increasing capacity on our trains by 22% which means more people are able to travel too.”

Hull Trains currently operates 92 services between Hull and London every week. The new trains can switch seamlessly between electric and diesel power. The trains can accelerate more quickly and they offer greater reliability across the rail infrastructure.

More than two thirds of the journey between Hull and the capital will be operated using electric power, which is much better than the environment. Even under diesel power the modern engines reduce harmful emissions (PM10 and NOx) by up to 90% compared to the existing trains.

Andy Barr, Group CEO, Hitachi Rail said: “These new trains designed using advanced bullet train technology have proven extremely popular, becoming the intercity train of choice on Britain’s rail network. The trains’ many benefits include no more diesel emissions when running on electric power, fast and free Wi-Fi, and greater comfort for passengers. With over 25,000 smart sensors on board each train allowing real-time monitoring, our maintenance team can ensure a reliable and efficient service for people travelling to and from Hull and beyond.”

Steve Montgomery, First Rail managing director, said: “This investment in five brand new trains demonstrates FirstGroup’s commitment to Hull and our Hull Trains service. We’re proud to have supported the local community and East Yorkshire’s economy by investing in Hull Trains and growing the service over the years.”

Kevin Tribley, CEO at Angel Trains, said: “By investing in and developing new trains that reduce the environmental impact of rail travel we are even closer to creating a rail system that modern Britain deserves. We are incredibly proud of our team and would like to thank those at Hitachi and Hull Trains for their hard work in making this vision a reality.”

Louise added: “The arrival of these long-awaited trains marks a new era for Hull Trains. We are now on an exciting trajectory to build and grow this business into one our city can be really proud of. It’s our mission to be the first choice when people are travelling to London, I want people to trust in the service we offer and the fantastic customer service our customers know and expect.

“I want to thank our loyal customers and committed staff who continue to support Hull Trains, I am genuinely excited about the future of Hull Trains, our new trains and new beginning.”

Book direct with Hull Trains for best fares online: www.hulltrains.co.uk

Steve Montgomery, MD First Rail, Louise Cheeseman, MD Hull Trains, Richard Vernon, Fleet Project Engineer Hull Trains, Jim Brewin, Project Director Hitachi Rail, Susan Holliday, Angel Trains

Siemens Mobility Receives First Order for Vectron Dual Mode Locomotives

November 24, 2019 / WIL BALDWIN

Railsystems RP GmbH orders two locomotives from Siemens Mobility
Sustainable concept: a combined diesel and electric locomotive
Delivery at the end of 2020

Railsystems RP GmbH has ordered two Vectron Dual Mode locomotives from Siemens Mobility, marking the first order for the new locomotive that can be operated either as a diesel or electric unit. Siemens Mobility first presented the concept at the InnoTrans 2018.

“With the Vectron Dual Mode, Railsystems RP GmbH is getting a locomotive that combines the best of two worlds: On electrified routes, the Vectron Dual Mode is powered by electricity to save fuel and reduce maintenance costs. On rail routes without overhead wires, the Vectron can shift to diesel operation without the operator having to change locomotives,” said Sabrina Soussan, CEO of Siemens Mobility.

The Vectron Dual Mode enables operators to increase value sustainably over their entire lifecycle. The locomotive can also operate through gaps in the electrified sections, eliminating the need to change locomotives. At the same time, conurbations and major cities, where there is often an electrified rail network, are spared emissions. The Vectron Dual Mode is specifically designed for freight service in Germany and is based on proven Vectron components. It operates on a 1,435 mm track gauge and weighs 90 tons. The locomotive is designed for the 15-kV-AC voltage system and is equipped with the PZB train control system. Regardless of whether it operates on electricity or diesel, traction power at the wheel rim is 2,000 kW. The locomotive’s diesel tank has a capacity of 2,600 liters. The Vectron Dual Mode has a top speed of 160 km/h.

Tesla Unveils Electric Pickup Truck with Futuristic Design

November 22, 2019 / WIL BALDWIN

Click to make your fully refundable $100 Tesla deposit

Starting price of $39,900
Most expensive version offers a range of more than 500 miles
Production expected to begin in late 2021 (Recasts and writes through)

Nov 21 (Reuters) – Tesla Inc on Thursday unveiled its first electric pickup truck that looked like a futuristic angular armored vehicle in gunmetal gray, as the California company took aim at the heart of Detroit automakers’ profits.

At a launch event in Los Angeles, Tesla Chief Executive Elon Musk said the Cybertruck will have a starting price of $39,900 and production is expected to begin in late 2021.

Other versions will be priced at $49,900 and $69,900 with the most expensive offering a range of more than 500 miles.

“We need sustainable energy now. If we don’t have a pickup truck, we can’t solve it. The top 3 selling vehicles in America are pickup trucks. To solve sustainable energy, we have to have a pickup truck,” he said.

The truck, which Musk claimed “won’t scratch and dent”, was described as having windows made from armored glass. But the glass cracked like a spider web when hit with a metal ball during a demonstration. Musk appeared surprised but noted that the glass had not completely broken.

Reactions on Twitter ranged from love to hate of the sharply angled vehicle. “I just watched tesla release the #cybertruck and honestly? My life feels complete,” wrote @aidan_tenud, while @nateallensnyde wrote “Its nice to see Elon Musk make a cardboard box car he drew in kindergarten,”.

Musk earlier tweeted the design was partly influenced by the Lotus Esprit sportscar that doubled as a submarine in the 1970s 007 film “The Spy Who Loved Me”.

The truck marks the first foray by Tesla, whose Model 3 sedan is the world’s top-selling battery electric car, into pickup trucks, a market dominated by Ford Motor Co’s F-150, along with models by General Motors Co, and Fiat Chrysler Automobiles NV .

The pickup shifts Tesla more toward trucks and SUVs. The automaker has so far sold mostly Model S and Model 3 sedans, but also offers the Model X SUV and starting next year the Model Y compact SUV.

A focus on the high-performance end of the market is only natural given the success of Ford’s 450-horsepower F-150 Raptor truck, which launched in 2009 and whose sales have since risen annually, according to Ford spokesman Mike Levine.

While Ford does not disclose Raptor sales, Levine said annual demand is well above 19,000 vehicles and the No. 2 U.S. automaker has never had to offer incentives on the model, which costs in the high $60,000 range. Ford also offers the more expensive F-150 Limited, its most powerful and luxurious pickup.

Ford and GM are also gearing up to challenge Tesla more directly with new offerings like the Ford Mustang Mach E electric SUV as well as electric pickups.

Electric pickups and SUVs could help Ford and GM generate the significant EV sales they will need to meet tougher emission standards and EV mandates in California and other states.

The Trump administration is moving to roll back those standards, but electric trucks are a hedge if California prevails.

Demand for full-size electric pickup trucks in the near term may not be huge, however.

Industry tracking firm IHS Markit estimates the electric truck segment – both full- and mid-sized models – will account for about 75,000 sales in 2026, compared with an expected 3 million light trucks overall. The Tesla truck is not part of that estimate.

Ford aims to sell an electric F-series in late 2021, sources familiar with the plans said. It also will offer the Mach E next year as part of its plan to invest $11.5 billion by 2022 to electrify its vehicles.

In April, Ford invested $500 million in startup Rivian, which plans to build its own electric pickup beginning in fall 2020.

GM plans to build a family of premium electric pickup trucks and SUVs, with the first pickup due to go on sale in the fall of 2021. It plans to invest $8 billion by 2023 to develop electric and self-driving vehicles.

(Reporting by Naomi Tajitsu in Tokyo and Peter Henderson in San Francisco; Additional reporting by Miyoung Kim in Singapore and Joseph White in Detroit; Editing by Edwina Gibbs)

Alstom to Deliver 19 Electric Regional Trains in Germany

November 14, 2019 / WIL BALDWIN

Alstom will deliver 19 Coradia Continental electric regional trains to the state of Baden-Württemberg. The contract, signed with DB Regio, is worth approximately €120 million. The trains will be built at Alstom’s site in Salzgitter.

Beginning in December 2022, the new trains will be gradually deployed on the routes from Karlsruhe to Heilbronn, Achern, as well as via Freudenstadt to Herrenberg.

The new trains have been designed to optimise passenger experience while meeting the region’s operational requirements. In addition to high-performance WiFi, they will include spacious multi-purpose areas in each car and a large capacity for bicycles. The trains are specifically designed to cope with the steep gradients that punctuate the tracks running through the Black Forest.

“Passengers in the Karlsruhe region can look forward to modern, proven and reliable trains. Our trains not only satisfy passengers, but are also known for outstanding reliability and availability, thus offering absolute planning security for operators,” says Jörg Nikutta, Managing Director of Alstom in Germany and Austria.

The Coradia Continental is part of Alstom’s Coradia range of modular trains that benefits from more than 30 years of know-how. To date, over 2,800 Coradia trains have been sold and 2,400 are currently in service in Denmark, France, Germany, Italy, Luxembourg, the Netherlands, Sweden and Canada.

The new vehicles will be procured by DB Regio AG on behalf of the Ministry of Transport of the state of Baden-Württemberg as the responsible public transport authority for this network. After delivery of the vehicles, they become the property of the Landesanstalt Schienenfahrzeuge Baden-Württemberg (SFBW) and are leased by DB Regio for the term of the 13-year transport contract.

Tesla Sedans Regain Consumer Reports Recommended Status

November 14, 2019 / WIL BALDWIN

DETROIT (Reuters) – Tesla Inc’s <TSLA> Model 3 and S sedans both regained “recommended” status in Consumer Reports magazine’s annual reliability survey, allowing the electric carmaker’s overall standing to rise slightly.

Tesla’s ranking improved four spots to No. 23 out of 30 brands in the U.S. market as it worked to resolve production problems with the Model 3, said Jake Fisher, senior director of auto testing at Consumer Reports. Both the Model 3 and S raised their reliability ratings to “average.”

“People really like their cars,” he said of Tesla owners. “Hopefully, if that frantic rate of change can slow down a bit, they can maintain reliability.”

Tesla has touted the popularity of the Model S, listed in the top ranks of a different Consumer Reports survey, on owner satisfaction, every year since 2013 when the carmaker was first included.

Fisher cautioned he expected Tesla’s reliability to remain fluid given its inconsistent track record.

Tesla’s Model X SUV still ranks among the least reliable models, according to the annual survey released on Thursday.

The poll predicts which new cars will give owners fewer or more problems, based on data collected for more than 400,000 vehicles. Its scorecard is influential among consumers and industry executives.

Reliability rankings tend to suffer when automakers offer new or redesigned models, which dragged down Volkswagen AG’s <VWAGY> namesake and Audi brands. The VW brand slid nine spots to No. 27, while Audi fell seven spots to No. 14.

Brands with no major changes to their lineups, such as Fiat Chrysler Automobiles’ <FCAU> Dodge and Chrysler, made significant gains. Dodge was the highest ranked U.S. brand at No. 8, making the biggest gain of 13 spots. Chrysler rose seven spots to No. 19, while Jeep finished at No. 26.

Ford Motor Co’s <F> Lincoln and Ford brands were No. 15 and 16, while General Motors Co’s <GM> Buick, GMC, Chevrolet and Cadillac brands ranked No. 18, 22, 25 and last at 30, respectively.

The reliability of full-sized pickups, the most popular vehicles in the U.S. market, was weak. Ford’s F-150 and FCA’s Ram trucks were rated “well below average,” while GM’s pickups – the Chevrolet Silverado and GMC Sierra – both had “below average” reliability.

Toyota Motor Corp’s <TM> Lexus luxury brand finished atop the survey, followed by Mazda Motor Corp <MZDAY> and the Toyota brand.

(Reporting by Ben Klayman in Detroit; Editing by Richard Chang)

Alstom Begins Delivery of New Regional Trains to Veneto and Liguria in Italy

November 13, 2019 / WIL BALDWIN

Alstom has delivered the first Coradia Stream “Pop” trains destined for operation in Italian regions of Veneto and Liguria. The trains are part of the framework agreement signed in 2016 between Alstom and Trenitalia for a total of 150 new medium-capacity regional trains. Veneto will receive a total of 31 trains, Liguria 15. Deliveries will continue at a rapid pace into 2020.

14 Coradia Stream trains are already in passenger service in Emilia Romagna, the first region to have placed a firm order under the 2016 agreement.

The new trains are part of a wider relaunch plan initiated by Trenitalia (FS Italian Group) to develop regional transport. This plan foresees a total investment of around €6 billion for 600 new trains, lead to the renewal of 80% of the fleet within 5 years. Due to the number of trains and its value, it is an unprecedented project for Italy.

The Coradia Stream, dubbed “Pop” by the Italian customer, is a single-deck electric multiple unit (EMU) designed for regional lines. It represents the latest generation of the Coradia family of trains. It can transport 300 passengers seated, has a top speed of 160 km/h, and offers easy accessibility thanks to its low floor. Designed to be eco-friendly, Coradia Stream consumes 30% less energy than previous train generation.

“Over the past 15 years, more than 412 regional trains have been designed, produced and put into commercial service by Alstom in Italy. To these figures, we will gradually grow the Pop fleet. We are proud to have been chosen by Veneto and Liguria, and to support Trenitalia in this major project to improve regional and intercity transport throughout the country,” said Michele Viale, Managing Director of Alstom in Italy and Switzerland.

The Coradia Stream trains are manufactured by Alstom in Italy. Project development, most of the manufacturing and certification are performed at Alstom’s site in Savigliano (CN). Design and manufacturing of the traction systems and other components takes place at the Sesto San Giovanni (MI), and the on-board signalling systems are delivered by the Bologna site.

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