The company that makes the Miata has lifted the veil on its 2020 plan, Toyota is not hitting its targets for this year but it shouldn’t shed tears for them, And weeks of Tesla’s struggles — and those of its owner’s — are reflected in the EV maker’s share price. all of that And more in Tuesday’s installment of morning shift On November 22, 2022.
First gear: Meet the future of Mazda
a few weeks later Mazda hinted at a grand electrification strategyThe Japanese automaker let us in on its vision of the future on Tuesday. It will involve an investment of $10.6 billion, including partnership operations With battery and chip manufacturers, and possibly even US production if all goes according to plan. politeness Auto News:
Mazda now expects electric vehicles to account for 25 percent to 40 percent of its global sales in 2030. That’s higher than Mazda’s early forecast for electric vehicles, which account for only a quarter of the total volume. Ramps launched from the year 2028 with the main propulsion of electric batteries.
“Until 2030, we will fully launch battery electric vehicles,” [CEO Akira] Marumoto said, adding that the transformation will include the introduction of electric vehicles in China and other global markets.
Mazda anchors most of this need to invest in EVs in the North American market. How well it does so, of course, depends on how well it understands and steers the terms of the DIA, and CEO Akira Marumoto admits the company is still investigating the bill. Regardless, Mazda will eventually need to build EVs here to qualify for the tax credits, and that doesn’t seem to be in the cards for about four more years:
Marumoto said Mazda is also considering US production of electric vehicles in this time frame. It is examining requirements under the recently introduced Inflation Reduction Act, or IRA, to see how it might qualify for electric vehicle tax credits given to makers of domestically produced electric vehicles.
“North America is the most important market for us,” said Marumoto. “There are still some things that are not clear about the IRA, and we need to understand them better.”
Marumoto added, “Given the importance of the market, we hope to manufacture EVs in North America at some point. But for now, we are considering the possibility of that happening in the second half of Phase 2.”
That timeframe would put it in the latter half of Mazda’s 2025-2027 Phase Two.
In the meantime, Mazda will continue to develop hybrids, and may introduce a new enthusiast model to spur interest in its next-generation offering. The manufacturer showed off a new concept, called the Vision Study model, which draws some inspiration from the Miata as well The beautiful RX Vision Coupe From the middle of the last decade. By 2025, the company expects to have a modular EV platform ready. It would be a shame to waste it exclusively on more CX crossovers.
Second gear: Toyota Dawn But hardly outside
in October, Toyota has indicated that it will not achieve its estimated production for the full yearRather, he declined to shed light on what the shortfall would be. Not long after, the company revealed it expected 9.2 million vehicles in the current fiscal year, down from 9.7 million. It should be noted that Toyota’s fiscal year ends in March.
However, December does not seem so hot for the brand. Toyota believes it will come out next month after making 700,000 vehicles Auto News notes About 100,000 shy of the average monthly rate in recent times.
The world’s largest automaker said on Tuesday it expects to produce just 700,000 vehicles worldwide next month, including 250,000 in Japan and 500,000 abroad.
The suspension of production will affect four lines at three plants in Japan alone.
Discontinued products include the RAV4 crossover and 4Runner SUV, as well as a slew of Lexus nameplates like the Lexus GX, NX, UX, RX, and ES sedan.
Toyota blamed the downgrade on “future risks, such as semiconductor shortages.”
It’s all very frustrating, but here’s the thing: 9.2 million cars will do it resident Make a record for Toyota. The previous high was 9.08 million vehicles, in 2017. No growth – even in the face of interlocking, never-ending global market turmoil – is ever enough, is it?
Third Gear: Life is good for B.ea battery supplier
LG Chem It will open a new battery plant in the Volunteer state over the coming years, with a view to starting production in 2025. Its primary customer will be Ultium Cells – itself a joint venture between LG and General Motors. take him away, Auto News:
LG Chem said in a statement that mass production at the factory in Clarksville, Tennessee, will begin in the second half of 2025, and the factory will create more than 850 jobs.
She added that the plant is scheduled to have an annual production capacity of 120,000 tons of cathode materials by 2027, which is enough to power about 1.2 million electric vehicles.
LG Chem added that it is also seeking to cooperate with mining companies and recycling companies to better support its customers so that the requirements of the new law, the Inflation Reduction Act, can be met.
With inflationary law requiring that an increasing percentage of battery raw materials originate from the United States or US Free Trade Partners if automakers want their products to qualify for federal tax credits, it is very important that LG Chem and GM are both getting this sort of thing by the latter half of the decade.
Fourth gear: Tesla is falling
Twitterand the threat of a COVID shutdown in China and He remembers It left Tesla trading at its lowest price since the end of 2020 — $167.87 at the close Monday, down 6.8 percent from today. for every bloomberg:
Tesla shares have lost nearly half their value in less than two months as the supply chain spirals, raw material costs soar and potential buyers feel the pressures of stubborn inflation and rising interest rates.
Moreover, Musk has been preoccupied with his newly acquired social media platform, which has left some investors worried that Tesla’s strategy might fall by the wayside.
“Weak macro data in China leads to concerns about Tesla, which has already cut prices once to stimulate demand and had significant export production in the first half of the fourth quarter,” Cowen analyst Geoffrey Osborne wrote in a note on Friday.
This also comes at a time when the company seems to have run into a headwind in China — that headwind is the onslaught of domestic EVs. Tesla responded to dwindling demand with price cuts in the region, and more cuts were rumored even by the automaker’s public relations office in China. Crush them. Lucky China – They still get Tesla’s PR team.
Fifth gear: Back off BYD
Warren Buffett’s Berkshire Hathaway sold a small stake in Chinese electric car maker BYD, Reuters Tuesday reported:
Warren Buffett’s investment firm Berkshire Hathaway sold 3.23 million Hong Kong-listed shares in electric car maker BYD for HK$630.33 million ($80.67 million), a stock exchange filing showed.
A Hong Kong Stock Exchange report on Tuesday showed that the sale reduced Berkshire’s holdings in BYD’s total issued shares to 15.99% on November 17, down from 16.28%.
After, after Half percent withdrawal in late AugustBuffett’s investment fell another 3.23 million shares this week, to $80.7 million. Buffett also sold another lot just a few weeks ago. tmind However, together the company owns about 5 percent less of the automaker now than it did before July.
Reverse: I must operate a vehicle with a large design
On the Radio: Casiopea – “Midnight Rendevouz”
With a cap like this, how could I not? better back: