Tag Archives: Motors

Step Aside Ford, GM: New Ram EV Pickup Boasts 500-Mile Range – Stellantis (NYSE:STLA), Tesla (NASDAQ:TSLA), Ford Motor (NYSE:F), General Motors (NYSE:GM), Rivian Automotive (NASDAQ:RIVN) – Benzinga

  1. Step Aside Ford, GM: New Ram EV Pickup Boasts 500-Mile Range – Stellantis (NYSE:STLA), Tesla (NASDAQ:TSLA), Ford Motor (NYSE:F), General Motors (NYSE:GM), Rivian Automotive (NASDAQ:RIVN) Benzinga
  2. The 2025 Ram 1500 REV’s 14,000-Pound Max Tow Target Is More Impressive Than You Realize The Drive
  3. How Ram went from the wild-looking REV Concept to the production pickup Autoblog
  4. Electrification cannot ‘be a limitation,’ Ram Brand CEO explains Yahoo Finance
  5. Ram Brands CEO on EV charging networks: ‘We’re going to get there faster than you think’ Yahoo Canada Finance
  6. View Full Coverage on Google News

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General Motors (GM) sales Q4 2022

2022 GMC Sierra 1500 Denali Ultimate

GM

DETROIT – General Motors reclaimed its U.S. sales crown from Toyota Motor last year as the Detroit automaker eked out a slight gain in annual U.S. vehicle sales despite supply chain problems.

GM said Wednesday it sold 2.27 million vehicles in the U.S. in 2022, up by 2.5% over 2021, including a 41.4% increase during the fourth quarter. Analysts expect overall U.S. auto industry sales to have declined by 8% and 10% last year compared to 2021.

Toyota said it sold 2.1 million vehicles in the U.S. last year, down 9.6% from 2021. The company was able to manage supply chain problems, specifically with semiconductor chips, better than others.

Toyota edged out GM in sales by 114,034 vehicles in 2021 – dethroning the Detroit automaker for the first time since 1931 when it surpassed Ford Motor. Toyota executives previously said the top sales spot was unattainable, but CEO Akio Toyoda last year told dealers he did a “happy dance” when he heard the news.

Jack Hollis, executive vice president of Toyota Motor North America, on Wednesday said the Japanese automaker remains focused on retail sales, which are traditionally more profitable than commercial or fleet sales. Toyota has led those sales for several years.

EVs

Despite recent criticism of its all-electric vehicle strategy, Toyota on Wednesday touted that it leads the country in electrified vehicle sales. Those include hybrid, plug-in and all-electric cars and trucks.

GM, in contrast, largely ditched hybrids for an all-electric vehicle strategy but has been slow to ramp up production. GM’s U.S. EV sales represented less than 2% of its sales in 2022.

In a release Wednesday, GM called EVs “growth opportunities.” It’s expected to release more mainstream models such as the Chevrolet Blazer and Chevrolet Equinox EV crossovers.

GM was able to achieve record U.S. sales of 38,120 Chevrolet Bolt EV and EUV models in 2022. However, it sold fewer than 1,000 units of its luxury GMC Hummer EV and Cadillac Lyriq, combined.

GM said production of the Bolt models is expected to increase to more than 70,000 units this year to meet strong global demand. The company last year pushed back plans to produce 400,000 EVs in North America through 2023 to mid-2024.

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Fluorescence achieved in light-driven molecular motors

Two photofunctions, Photoluminescence (PL) and unidirectional rotation are combined by hybridizing a PL dye and a molecular motor. The molecular design provides photoregulation of these functions as well as additional synergistic effects. Credit: Ryojun Toyoda

Rotary molecular motors were first created in 1999, in the laboratory of Ben Feringa, Professor of Organic Chemistry at the University of Groningen. These motors are driven by light. For many reasons, it would be good to be able to make these motor molecules visible. The best way to do this is to make them fluoresce. However, combining two light-mediated functions in a single molecule is quite challenging. The Feringa laboratory has now succeeded in doing just that, in two different ways. These two types of fluorescing light-driven rotary motors were described in Nature Communications (September 30) and Science Advances (November 4).

“After the successful design of molecular motors in the past decades, an important next goal was to control various functions and properties using such motors,” explains Feringa, who shared in the Nobel Prize in Chemistry in 2016. “As these are light-powered rotary motors, it is particularly challenging to design a system that would have another function that is controlled by light energy, in addition to the rotary motion.”

Feringa and his team were particularly interested in fluorescence since this is a prime technique that is widely used for detection, for example in biomedical imaging. Usually, two such photochemical events are incompatible in the same molecule; either the light-driven motor operates and there is no fluorescence or there is fluorescence and the motor does not operate. Feringa says, “We have now demonstrated that both functions can exist in parallel in the same molecular system, which is rather unique.”

Ryojun Toyoda, a postdoctoral researcher in the Feringa group, who now holds a professor position at Tohoku University in Japan, added a fluorescent dye to a classic Feringa rotary motor. “The trick was to prevent these two functionalities from blocking each other,” says Toyoda. He managed to quench the direct interactions between the dye and the motor. This was done by positioning the dye perpendicular to the upper part of the motor to which it was attached. “This limits the interaction,” Toyoda explains.

Different colors

In this way, the fluorescence and the rotary function of the motor can coexist. Furthermore, it turned out that changing the solvent allows him to tune the system: “By varying the solvent polarity, the balance between both functions can be changed.” This means that the motor has become sensitive to its environment, which could point the way for future applications.

Co-author Shirin Faraji, professor of Theoretical Chemistry at the university of Groningen, helped to explain how this happens. Kiana Moghaddam, a postdoc in her group, performed extensive quantum mechanical calculations and demonstrated how the key energetics governing the photo-excited dynamics strongly depend on the solvent polarity.

Another useful property of this fluorescing motor molecule is that different dyes could be attached to it as long as they have a similar structure. “So, it is relatively easy to create motors that are glowing in different colors,” says Toyoda.

The dual-function motor was prepared by chemically attaching an antenna to a molecular motor. Rotation and photoluminescence (PL) can be controlled using light of different wavelengths. Credit: Lukas Pfeifer

Antenna

A second fluorescent motor was constructed by Lukas Pfeifer, also while working as a postdoctoral researcher in the Feringa group. He has since joined the École Polytechnique Fédérale in Lausanne, Switzerland: “My solution was based on a motor molecule that I had already made, which is driven by two low-energy near-infrared photons.” Motors that are powered by near-infrared light are useful in biological systems, as this light penetrates deeper into tissue than visible light and is less harmful to the tissue than UV light.

“I added an antenna to the motor molecule that collects the energy of two infrared photons and transfers it to the motor. While working on this, we discovered that with some modifications, the antenna could also cause fluorescence,” says Pfeifer. It turned out that the molecule can have two different excited states: in one state, the energy is transferred to the motor part and drives rotation, while the other state causes the molecule to fluoresce.

Power

“In the case of this second motor, the entire molecule fluoresces,” explains Professor Maxim Pshenichnikov, who performed spectroscopic analysis of both types of fluorescent motor and who is a co-author of both papers. “This motor is one chemical entity on which the wave function is not localized and, depending on the energy level, can have two different effects. By altering the wavelength of the light, and thus the energy that the molecule receives, you get either rotation or fluorescence.” Faraji adds, “Our synergized in-principle and in-practice approach highlights the interplay between theoretical and experimental studies, and it illustrates the power of such combined efforts.”

Now that the team has combined both motion and fluorescence in the same molecule, a next step would be to show motility and detect the molecule’s location simultaneously by tracing the fluorescence. Feringa says, “This is very powerful and we might apply it to show how these motors might traverse a cell membrane or move inside a cell, as fluorescence is a widely used technique to show where molecules are in cells. We could also use it to trace the movement that is induced by the light-powered motor, for instance on a nanoscale trajectory or perhaps trace motor-induced transport on the nanoscale. This is all part of follow-up research.”

More information:
Ryojun Toyoda et al, Synergistic interplay between photoisomerization and photoluminescence in a light-driven rotary molecular motor, Nature Communications (2022). DOI: 10.1038/s41467-022-33177-0

Lukas Pfeifer et al, Dual Function Artificial Molecular Motors Performing Rotation and Photoluminescence, Science Advances (2022). DOI: 10.1126/sciadv.add0410. www.science.org/doi/10.1126/sciadv.add0410

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Fluorescence achieved in light-driven molecular motors (2022, November 4)
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Tesla Motors (TSLA) – Elon Musk Warns ‘Just A Matter Of Time’ Before Event That Led To Extinction Of Dinosaurs Hits Us Mammals

Tesla Inc TSLA CEO Elon Musk struck an ominous note on Twitter Monday as he touched upon a mass extinction event that brought to an end the Cretaceous period.

What Happened: Musk said what hastened the demise of the dinosaurs and led to the proliferation of mammals on the planets could happen again.

The entrepreneur shared a BBC article in his tweet with the comments, “This will happen again – just a matter of time.”

See Also: How To Buy Tesla (TSLA) Shares

Why It Matters:  The article shared by Musk talked about the rise of mammals after dinosaurs were decimated by a six-mile wide (10 km) asteroid that hit present-day Mexico with a force of more than a billion nuclear bombs.

Musk is a proponent of settlement on Mars in order to extend the “probable lifespan” of humanity. 

He said in April, “I think we’ve really just got this little candle of consciousness like a small light in the void and we don’t want that small candle in a vast darkness to be put out.”

More recently, he said, “Mars may be a fixer-upper of a planet, but it has great potential.”

Price Action: On Monday, Tesla shares closed 1.1% lower at $284.82 in the regular session and gained 0.4% in extended trading, according to data from Benzinga Pro.

Read Next: Mark Zuckerberg Says It’s Hard To Spend A Lot Of Time On Twitter ‘Without Getting Upset’



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Lordstown Motors (RIDE) Q2 2022 earnings and production

Workers install door hinges to the body shell of a prototype Endurance electric pickup truck on June 21, 2021 at Lordstown Motors assembly plant in Ohio.

Michael Wayland | CNBC

Embattled electric truck startup Lordstown Motors on Thursday reaffirmed plans to begin commercial production of its first vehicle this quarter and roll out the first customer deliveries by the end of the year.

Lordstown CEO Edward Hightower said production of the Endurance pickup will be slow and largely reliant on capital availability. He said the company only expects to produce about 500 vehicles through early 2023 — an extremely slow production ramp-up by industry standards.

CFO Adam Kroll said the company will need to raise “substantially more capital” to produce the initial 500 Endurance electric pickups, though the company projects it will need less money than previously thought.

Lordstown’s stock jumped as much as 27% during trading Thursday morning to $3.73 a share. The stock is down about 15% this year and off 58% from its 52-week high of $8.93 a share. The company’s market cap is roughly $740 million.

The company said it will need to raise between $50 million and $75 million this year, down from previous expectations of $150 million. Lordstown will need additional capital in 2023, Kroll said.

Lordstown, alongside its second-quarter results, said its cash balance of $236 million at the end of the first half of the year was above internal expectations and extends the cash-strapped company’s runway — but isn’t enough to fund production.

The company reported its first quarterly operating profit of $61.3 million for the period ended June 30, despite not delivering any vehicles, on gains related to the sale of its Ohio factory to contract manufacturer Foxconn. The profit included a $101.7 million gain from the sale as well as an $18.4 million reimbursement of operating expenses from Foxconn.

Lordstown and Foxconn announced in November plans for the Taiwan-based company to purchase the facility and an agreement for the company to manufacturer the struggling startup’s Endurance pickup. The deal was announced as Lordstown was in need of cash, delaying production of its pickup and engulfed in controversy after the resignation of its CEO and founder Steve Burns earlier in the year.

Lordstown, which went public in October 2020, was among a group of electric vehicle startups to go public through special purpose acquisition companies, or SPACs, since the beginning of the decade. The deals were initially hailed by Wall Street and investors but controversies, product delays, lack of financing and executive shakeups have sent shares of most of the companies plummeting.

Lordstown was initially expected to be among the first, if not the first, company to release an electric pickup truck, with initial estimates as early as 2020. However, General Motors, Rivian Automotive and Ford Motor have all beat the company to market following internal problems and delays with the Endurance.

Ford’s electric F-150 is squarely positioned to compete against the Endurance for the commercial pickup truck market. Ford’s electric F-150 pickup starts at about $23,000 less than the Endurance, plus, it carries a first-mover advantage and the backing of a well-funded company.

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Lucid Motors has drastically reduced its production target, again

Luxury EV startup Lucid Motors changed its yearly production target again, lowering it to an expected output of between 6,000 and 7,000 vehicles, the company announced today. That’s only a fraction of the 20,000 cars that Lucid initially promised to deliver in 2022. The Tesla competitor has only produced 1,405 vehicles so far this year, giving it a mere four months to build thousands of new cars.

Supply chain woes and a shortage of parts and raw materials are to blame for the slow output, the company claims. In a call with investors, the California-based company’s CEO Peter Rawlinson said it is planning a number of structural changes to amp up production. “Our revised production guidance reflects the extraordinary supply chain and logistics challenges we encountered,” said Rawlinson. “We’ve identified the primary bottlenecks, and we are taking appropriate measures – bringing our logistics operations in-house, adding key hires to the executive team, and restructuring our logistics and manufacturing organization.”

On top of ongoing production struggles, this May the company was forced to recall all of its 2022 Air EVs due to wiring issues — a total of over 1,000 cars. Such challenges haven’t appeared to impact demand for the luxury vehicles. So far, there have been 37,000 reservations for Lucid Motor’s all-electric sedan, the Lucid Air, the company disclosed in the . On top of that, Lucid plans to sell over 100,000 cars to the government of Saudi Arabia — which poured over into the company and owns a 62 percent stake.

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Tesla Motors, Inc. (NASDAQ:TSLA) – Watch: Elon Musk’s SpaceX Takes Its ‘American Broomstick’ Jab At Russia A Step Further As Falcon 9 Takes Off

Elon Musk-owned SpaceX on Wednesday took one more dig at just Russia, seconds before launching 48 Starlink satellites to Earth’s low orbit.

What Happened: In the launch video of Falcon 9‘s latest mission, SpaceX launch engineer Julia Black can be heard saying, “Time to let the American Broomstick fly and hear the sounds of freedom” seconds before the liftoff.

The Context: Her jibe, similar to the Tesla Inc (NASDAQ: TSLA) CEO’s last week, was in reference to a quip made by Russia’s space agency chief Dmitry Rogozin. 

Rogozin, while announcing his country’s decision to stop supplying rocket engines to the United States in retaliation for its sanctions against Russia, had said Americans could “use broomsticks” instead to launch their rockets.

 See Also: Falcon 9 Takes Another 47 Starlink Satellites To Space: Why Elon Musk Is Calling It An ‘American Broomstick’ Launch

The Launch: This was SpaceX’s forty-first launch using the partially reusable Falcon 9 rocket, propulsion engineer Youmei Zhou said in a live telecast prior to the liftoff at 8:45 a.m. ET from Cape Canaveral Space Force Station. It was also SpaceX’s ninth Falcon 9 launch so far this year.

Starlink is a SpaceX venture designed to beam down high-speed internet, especially in remote areas from satellites in orbit to Earth.

Musk recently said the service would be expanded to 14 countries and that the company is awaiting licenses in several other countries.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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GM sells its stake in embattled EV start-up Lordstown Motors

The Lordstown Motors factory is where GM once operated, in Lordstown, Ohio, on October 16, 2020.

Megan Jelinger | AFP | Getty Images

General Motors sold its stake in Lordstown Motors during the fourth quarter following an undisclosed lock-up period, the Detroit automaker confirmed Tuesday.

GM owned 7.5 million shares of common stock in Lordstown as part of a SPAC deal that took the Ohio-based automaker public in October 2020. The shares had an initial equity value of $75 million. They were given in exchange for in-kind contributions and $25 million in cash GM’s stake was less than 5%.

The disclosure comes after Lordstown on Monday announced underwhelming plans to produce and sell up to only 3,000 vehicles through next year, including 500 in 2022. Both are far below the amount former management sold investors on in the runup to the public listing. 

GM spokesperson Jim Cain declined to disclose exact timing of the open market sales or the net proceeds, saying the total wasn’t material.

The share sale was somewhat expected. GM’s involvement in the company was a goodwill gesture to assist in getting the Lordstown Assembly plant back up and running following the automaker ending production there in 2019.

“Our objective in investing was to allow them to complete the purchase of the plant and restart production,” Cain said.

Lordstown recently started producing preproduction models of its first vehicle, an all-electric pickup truck called the Endurance, at the plant. It plans to begin customer deliveries during the third quarter of this year.

In the fourth quarter, Lordstown announced a deal with iPhone maker Foxconn to purchase the plant for $230 million. The deal includes Foxconn, which is formally known as Hon Hai Technology Group, handling production of the Endurance pickup truck.

The deal is still being finalized, Lordstown executives said Monday. They’re also in negotiations for the two companies to co-develop vehicles in the future. Lordstown CEO Dan Ninivaggi characterized the deal as a critical component to the company’s future success.

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Tesla’s Elon Musk responds to General Motors’ 26 total EV sales in Q4 2021

Tesla CEO Elon Musk recently posted a response to veteran American automaker General Motors’ total electric vehicle sales during the fourth quarter of 2021. According to the Tesla CEO, GM’s Q4 2021 numbers definitely have “room to improve,” which is quite an understatement considering the sales numbers posted by the Detroit-based carmaker. 

As noted by General Motors, the company sold a total of twenty-six electric vehicles in the fourth quarter. Not twenty-six thousand. Just twenty-six. These were comprised of twenty-five Chevy Bolts and one Hummer EV pickup truck. This was quite interesting considering that GM made it a point to announce last month that Hummer EV customer deliveries were already starting. 

“The first 2022 GMC HUMMER EV Pickups have been produced at Factory ZERO, and customer deliveries will now begin. The revolutionary GMC supertruck represents the first of many Ultium-based consumer vehicles to be produced as part of General Motors’ vision for an all-electric future,” GM noted in a press release last month. 

While it is no surprise that GM’s EV sales numbers took a hit in the fourth quarter of 2021 due to Bolt’s ongoing recall and the vehicle’s production halt, the single Hummer EV sale was still quite surprising. GM, after all, noted after the all-electric pickup truck’s unveiling that reservations for the Hummer EV Edition 1 were sold out in minutes. It is then quite interesting that more customers who ordered the Edition 1 during the Hummer EV’s launch day opted to not take delivery during the last weeks of December. 

While Elon Musk’s Twitter post about GM’s sales numbers could be seen as a rather cheeky response to the veteran automaker’s Q4 2021 EV sales results, the Tesla CEO is coming from a place of experience. Tesla, after all, is arguably the only company in the United States that has successfully ramped and mass-produced a premium electric vehicle. And it did not accomplish it without any challenges either. Musk would be the first to admit that ramping production of the Model 3 was something that nearly killed the company. 

General Motors’ Q4 2021 results are definitely disappointing, and it is quite ironic considering that the company is being heavily promoted by the White House as a leader in the electric vehicle market. During a speech at the opening of GM’s Factory Zero, for example, US President Joe Biden patted GM CEO Mary Barra’s back, crediting her for leading the EV revolution. “You changed the whole story, Mary. You did, Mary. You electrified the entire automotive industry. I’m serious. You led, and it matters,” Biden noted. 

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Tesla’s Elon Musk responds to General Motors’ 26 total EV sales in Q4 2021








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Lucid Motors subpoenaed by the SEC over its SPAC deal. Shares plunge

The company said the probe “appears to concern” the SPAC deal that took it public earlier this year, along with “certain projections and statements.”

Lucid (LCID) raised $4 billion through its combination with Churchill Capital Corp., which was a shell company set up to take a company public without having to go through the typical initial public offering process. The deal was announced in February and shares started trading on Nasdaq in July.
Lucid, founded and headed by former Tesla engineer Peter Rawlinson, has been a relatively hot EV company, even though it just started its first delivery of electric vehicles at the end of October. Its Lucid Air Dream edition has been certified by the EPA as being able to go 520 miles on a single charge, the longest range of any pure battery EV yet, including any Tesla. And the Lucid Air was named the MotorTrend Car of the Year in October.

Shares of Lucid had nearly doubled since they started trading on the Nasdaq.

Lucid is the latest in a growing group of upstart EVs with big questions about financial projections.

Shares of Nikola, which plans to make electric and fuel-cell powered trucks, plunged in September 2020 after Hindenburg Research, a short-seller, accused the company of an “intricate fraud.” Hindenburg claimed Nikola’s products were much farther from reaching the market than they advertised. Its founder, Trevor Milton, was forced to resign and in February the company’s own internal investigation found he misled investors. Milton now faces federal criminal charges, as well as charges from the SEC that he deceived investors.
Another electric truck start-up, Lordstown Motors, was also hit by a report from Hindenburg which raised questions about the orders for its trucks. Its CEO and CFO also were forced to resign.
Both companies also went public through use of a SPAC, and both traded at lofty prices before questions were raised about their claims of future plans and sales. Neither company’s shares recovered. Both are down nearly 90% from their record highs.

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