France’s Schneider Electric sees 2019 growth slowing less than expected

French electrical equipment producer Schneider Electric expects its earnings growth to ease this year, but at a pace slower than the market expects. Emmanuel Babeau, Deputy CEO and CFO at Schneider Electric, told CNBC Thursday that the company has “seen very solid progress coming out of 2017 and 2018.” “There’s generally a lot of confidence in the market that we’ll make that target,” he told CNBC’s Juliana Tatelbaum. He said the company was continuing to do “a very disciplined review of our stru


French electrical equipment producer Schneider Electric expects its earnings growth to ease this year, but at a pace slower than the market expects. Emmanuel Babeau, Deputy CEO and CFO at Schneider Electric, told CNBC Thursday that the company has “seen very solid progress coming out of 2017 and 2018.” “There’s generally a lot of confidence in the market that we’ll make that target,” he told CNBC’s Juliana Tatelbaum. He said the company was continuing to do “a very disciplined review of our stru
France’s Schneider Electric sees 2019 growth slowing less than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14
Keywords: news, cnbc, companies, schneider, frances, slowing, electric, adjusted, growth, company, told, ebita, organic, expected, market, margin, 2019, sees


France's Schneider Electric sees 2019 growth slowing less than expected

French electrical equipment producer Schneider Electric expects its earnings growth to ease this year, but at a pace slower than the market expects.

The company said on Thursday it sees the 2019 revenue to grow between 3 and 5 percent organically with an expansion in adjusted earnings before interest, tax and amortization (EBITA) margin of 20-50 basis points, leading to an adjusted EBITA organic increase of 4 to 7 percent.

Emmanuel Babeau, Deputy CEO and CFO at Schneider Electric, told CNBC Thursday that the company has “seen very solid progress coming out of 2017 and 2018.”

“There’s generally a lot of confidence in the market that we’ll make that target,” he told CNBC’s Juliana Tatelbaum. He said the company was continuing to do “a very disciplined review of our structural costs and doing that in ways that it doesn’t affect our organic growth performance,” he said.

The analysts polled by Schneider had expected current year’s organic growth to be 2 percent with a flat adjusted EBITA margin year-on-year.


Company: cnbc, Activity: cnbc, Date: 2019-02-14
Keywords: news, cnbc, companies, schneider, frances, slowing, electric, adjusted, growth, company, told, ebita, organic, expected, market, margin, 2019, sees


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Two ways GM and Amazon can make money on Rivian’s electric pickups

The reported investment automaker General Motors and online giant Amazon made in an electric pickup truck major could yield two very different payouts for such different companies, say two auto industry analysts. GM and Amazon each may have its own unique uses for Rivian’s electric platform. Investing in Rivian Automotive’s planned electric pickup could help GM rapidly bring an electric powertrain into its top-selling and profitable pickup truck line, giving the automaker a better chance at sell


The reported investment automaker General Motors and online giant Amazon made in an electric pickup truck major could yield two very different payouts for such different companies, say two auto industry analysts. GM and Amazon each may have its own unique uses for Rivian’s electric platform. Investing in Rivian Automotive’s planned electric pickup could help GM rapidly bring an electric powertrain into its top-selling and profitable pickup truck line, giving the automaker a better chance at sell
Two ways GM and Amazon can make money on Rivian’s electric pickups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: robert ferris
Keywords: news, cnbc, companies, different, pickup, rivians, money, platform, amazon, pickups, truck, gm, ways, trucks, lot, body, electric, vehicle


Two ways GM and Amazon can make money on Rivian's electric pickups

The reported investment automaker General Motors and online giant Amazon made in an electric pickup truck major could yield two very different payouts for such different companies, say two auto industry analysts.

Neither Amazon nor General Motors commented on reports on Tuesday that each company had taken a stake in the Michigan-based startup that wants to be the first automaker to bring an electric pickup to market. GM and Amazon each may have its own unique uses for Rivian’s electric platform. Their investments together would value the company between $1 billion to $2 billion, Reuters reported.

Investing in Rivian Automotive’s planned electric pickup could help GM rapidly bring an electric powertrain into its top-selling and profitable pickup truck line, giving the automaker a better chance at selling an electric vehicle that can lure buyers and yield profits, said Edmund’s analyst Jessica Caldwell.

Pickup trucks are one of the most successful types of vehicles in the market right now. Sales are growing and transaction prices are typically higher than those of cars and rising. In January, average pickup truck transaction prices were just below $50,000, Caldwell said.

“That’s a lot of money,” she said. “So I think companies think there could be margins. We’ve seen electric vehicles not take off on the small vehicle side, so maybe the solution is something bigger, something we know that people will pay a lot more for.”

Meanwhile Amazon could use the company’s platform for its extensive logistics needs, said Michelle Krebs, an analyst for Autotrader, an online marketplace for vehicles.

“We know that Amazon wants to reinvent its delivery system,” she said.

Pickup trucks are not a typical vehicle used for deliveries — cargo vans or heavier trucks are far more common. But underpinning the Rivian truck is a kind of “skateboard” platform that can carry a variety of different body shapes, she said.

“They could put any kind of body type on it,” Krebs said. “So it could be a van, a sport utility vehicle. They’ve talk ed about that. So it has a lot more flexibility in terms of body style.”


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: robert ferris
Keywords: news, cnbc, companies, different, pickup, rivians, money, platform, amazon, pickups, truck, gm, ways, trucks, lot, body, electric, vehicle


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Two ways GM and Amazon can make money on Rivian’s electric pickups

The reported investment automaker General Motors and online giant Amazon made in an electric pickup truck major could yield two very different payouts for such different companies, say two auto industry analysts. GM and Amazon each may have its own unique uses for Rivian’s electric platform. Investing in Rivian Automotive’s planned electric pickup could help GM rapidly bring an electric powertrain into its top-selling and profitable pickup truck line, giving the automaker a better chance at sell


The reported investment automaker General Motors and online giant Amazon made in an electric pickup truck major could yield two very different payouts for such different companies, say two auto industry analysts. GM and Amazon each may have its own unique uses for Rivian’s electric platform. Investing in Rivian Automotive’s planned electric pickup could help GM rapidly bring an electric powertrain into its top-selling and profitable pickup truck line, giving the automaker a better chance at sell
Two ways GM and Amazon can make money on Rivian’s electric pickups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: robert ferris
Keywords: news, cnbc, companies, amazon, pickups, body, truck, different, money, rivians, ways, pickup, trucks, electric, lot, platform, vehicle, gm


Two ways GM and Amazon can make money on Rivian's electric pickups

The reported investment automaker General Motors and online giant Amazon made in an electric pickup truck major could yield two very different payouts for such different companies, say two auto industry analysts.

Neither Amazon nor General Motors commented on reports on Tuesday that each company had taken a stake in the Michigan-based startup that wants to be the first automaker to bring an electric pickup to market. GM and Amazon each may have its own unique uses for Rivian’s electric platform. Their investments together would value the company between $1 billion to $2 billion, Reuters reported.

Investing in Rivian Automotive’s planned electric pickup could help GM rapidly bring an electric powertrain into its top-selling and profitable pickup truck line, giving the automaker a better chance at selling an electric vehicle that can lure buyers and yield profits, said Edmund’s analyst Jessica Caldwell.

Pickup trucks are one of the most successful types of vehicles in the market right now. Sales are growing and transaction prices are typically higher than those of cars and rising. In January, average pickup truck transaction prices were just below $50,000, Caldwell said.

“That’s a lot of money,” she said. “So I think companies think there could be margins. We’ve seen electric vehicles not take off on the small vehicle side, so maybe the solution is something bigger, something we know that people will pay a lot more for.”

Meanwhile Amazon could use the company’s platform for its extensive logistics needs, said Michelle Krebs, an analyst for Autotrader, an online marketplace for vehicles.

“We know that Amazon wants to reinvent its delivery system,” she said.

Pickup trucks are not a typical vehicle used for deliveries — cargo vans or heavier trucks are far more common. But underpinning the Rivian truck is a kind of “skateboard” platform that can carry a variety of different body shapes, she said.

“They could put any kind of body type on it,” Krebs said. “So it could be a van, a sport utility vehicle. They’ve talk ed about that. So it has a lot more flexibility in terms of body style.”


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: robert ferris
Keywords: news, cnbc, companies, amazon, pickups, body, truck, different, money, rivians, ways, pickup, trucks, electric, lot, platform, vehicle, gm


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tesla is not ‘quite out of the woods yet,’ says Morgan Stanley’s Adam Jonas

Tesla has made progress reducing its cash burn but the electric-car maker is not “quite out of the woods yet,” Morgan Stanley’s Adam Jonas told CNBC on Wednesday. The key for Tesla is to expand beyond a “standalone electric car company” and find resilience as competition in the electric space heats up, said Jonas, who gained a wide following on Wall Street for predicting the rise of Tesla and electric vehicles. Tesla plans to reveal an electric truck this summer, but a counterpart can gain an ed


Tesla has made progress reducing its cash burn but the electric-car maker is not “quite out of the woods yet,” Morgan Stanley’s Adam Jonas told CNBC on Wednesday. The key for Tesla is to expand beyond a “standalone electric car company” and find resilience as competition in the electric space heats up, said Jonas, who gained a wide following on Wall Street for predicting the rise of Tesla and electric vehicles. Tesla plans to reveal an electric truck this summer, but a counterpart can gain an ed
Tesla is not ‘quite out of the woods yet,’ says Morgan Stanley’s Adam Jonas Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: tyler clifford
Keywords: news, cnbc, companies, price, truck, electric, quite, company, plans, jonas, rivian, adam, pickup, say, morgan, stanleys, woods, tesla


Tesla is not 'quite out of the woods yet,' says Morgan Stanley's Adam Jonas

Tesla has made progress reducing its cash burn but the electric-car maker is not “quite out of the woods yet,” Morgan Stanley’s Adam Jonas told CNBC on Wednesday.

The auto analyst expects Tesla to burn about $600 million, possibly as much as $1 billion, in cash in the first quarter, but said a partnership with a tech company or another original equipment manufacturer “could go a long way.”

The key for Tesla is to expand beyond a “standalone electric car company” and find resilience as competition in the electric space heats up, said Jonas, who gained a wide following on Wall Street for predicting the rise of Tesla and electric vehicles.

“The biggest question for Tesla share price, let’s say over the next 12 months … is this company finally at a point where it’s self-financing, where it doesn’t need external equity capital to fund its very ambitious plans?” he said on “Fast Money.”

Tesla plans to reveal an electric truck this summer, but a counterpart can gain an edge with its own electric powertrain in the pickup truck market, Jonas said.

Morgan Stanley has a price target of $283 for the stock, which is more than 8 percent lower than its Wednesday close of about $308.

Tesla faces tougher questions as General Motors and Amazon are rumored to be investing in Rivian Automotive, a Detroit-based technology start-up that is the firm’s top pick to compete with Tesla in the near future. Jonas sees Rivian as the next leader in electric pickup trucks.

“Rivian and other start-ups that can get access to the best talent and … capital and … have the business-model chops of an Amazon behind it, that could pose … a much more serious threat to Tesla than, say, the Germans who will have EVs,” Jonas said Wednesday, “but the cultural issues are real limiting factors in our opinion.”


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: tyler clifford
Keywords: news, cnbc, companies, price, truck, electric, quite, company, plans, jonas, rivian, adam, pickup, say, morgan, stanleys, woods, tesla


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Morgan Stanley: Why GM and Amazon may be investing in ‘the next Tesla’

General Motors and Amazon are reportedly in talks to invest in Detroit start-up Rivian Automotive, and that indicates a massive shift in the “next and potentially imminent” electric vehicle market of pickup trucks, Morgan Stanley said Wednesday. “The highly lucrative and US-dominated pickup truck market” is a key focus for investors due to the “culmination of battery cost reduction, architecture, duty cycle, and price point,” Morgan Stanley analyst Adam Jonas said. Morgan Stanley featured Rivian


General Motors and Amazon are reportedly in talks to invest in Detroit start-up Rivian Automotive, and that indicates a massive shift in the “next and potentially imminent” electric vehicle market of pickup trucks, Morgan Stanley said Wednesday. “The highly lucrative and US-dominated pickup truck market” is a key focus for investors due to the “culmination of battery cost reduction, architecture, duty cycle, and price point,” Morgan Stanley analyst Adam Jonas said. Morgan Stanley featured Rivian
Morgan Stanley: Why GM and Amazon may be investing in ‘the next Tesla’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: michael sheetz, bloomberg, getty images
Keywords: news, cnbc, companies, rivian, trucks, pickup, market, stanley, morgan, jonas, electric, focused, amazon, investing, tesla, gm


Morgan Stanley: Why GM and Amazon may be investing in 'the next Tesla'

General Motors and Amazon are reportedly in talks to invest in Detroit start-up Rivian Automotive, and that indicates a massive shift in the “next and potentially imminent” electric vehicle market of pickup trucks, Morgan Stanley said Wednesday.

“The highly lucrative and US-dominated pickup truck market” is a key focus for investors due to the “culmination of battery cost reduction, architecture, duty cycle, and price point,” Morgan Stanley analyst Adam Jonas said. Jonas earned a wide following on Wall Street due to his early calls on Tesla and the rise of electric vehicles.

Morgan Stanley featured Rivian earlier this week as the “next serious competition” for Tesla. The start-up’s “clean sheet” approach could make it “the next Tesla,” Jonas said.

“We have focused considerable research effort on the theme of electric pickup trucks in recent days,” Jonas said. Rivian emerged as the firm’s top pick to challenge Tesla in the coming years due to Rivian’s “access to talent & capital focused on the fastest growing segments of pickup trucks & SUVs,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: michael sheetz, bloomberg, getty images
Keywords: news, cnbc, companies, rivian, trucks, pickup, market, stanley, morgan, jonas, electric, focused, amazon, investing, tesla, gm


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Morgan Stanley: Why GM and Amazon may be investing in ‘the next Tesla’

General Motors and Amazon are reportedly in talks to invest in Detroit start-up Rivian Automotive, and that indicates a massive shift in the “next and potentially imminent” electric vehicle market of pickup trucks, Morgan Stanley said Wednesday. “The highly lucrative and US-dominated pickup truck market” is a key focus for investors due to the “culmination of battery cost reduction, architecture, duty cycle, and price point,” Morgan Stanley analyst Adam Jonas said. Morgan Stanley featured Rivian


General Motors and Amazon are reportedly in talks to invest in Detroit start-up Rivian Automotive, and that indicates a massive shift in the “next and potentially imminent” electric vehicle market of pickup trucks, Morgan Stanley said Wednesday. “The highly lucrative and US-dominated pickup truck market” is a key focus for investors due to the “culmination of battery cost reduction, architecture, duty cycle, and price point,” Morgan Stanley analyst Adam Jonas said. Morgan Stanley featured Rivian
Morgan Stanley: Why GM and Amazon may be investing in ‘the next Tesla’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: michael sheetz, bloomberg, getty images
Keywords: news, cnbc, companies, rivian, trucks, pickup, market, stanley, morgan, jonas, electric, focused, amazon, investing, tesla, gm


Morgan Stanley: Why GM and Amazon may be investing in 'the next Tesla'

General Motors and Amazon are reportedly in talks to invest in Detroit start-up Rivian Automotive, and that indicates a massive shift in the “next and potentially imminent” electric vehicle market of pickup trucks, Morgan Stanley said Wednesday.

“The highly lucrative and US-dominated pickup truck market” is a key focus for investors due to the “culmination of battery cost reduction, architecture, duty cycle, and price point,” Morgan Stanley analyst Adam Jonas said. Jonas earned a wide following on Wall Street due to his early calls on Tesla and the rise of electric vehicles.

Morgan Stanley featured Rivian earlier this week as the “next serious competition” for Tesla. The start-up’s “clean sheet” approach could make it “the next Tesla,” Jonas said.

“We have focused considerable research effort on the theme of electric pickup trucks in recent days,” Jonas said. Rivian emerged as the firm’s top pick to challenge Tesla in the coming years due to Rivian’s “access to talent & capital focused on the fastest growing segments of pickup trucks & SUVs,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: michael sheetz, bloomberg, getty images
Keywords: news, cnbc, companies, rivian, trucks, pickup, market, stanley, morgan, jonas, electric, focused, amazon, investing, tesla, gm


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Amazon, General Motors are in talks to invest in Tesla rival Rivian: Reuters, citing sources

Amazon and General Motors are in talks to invest in Rivian Automotive in a deal that will value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter told Reuters on Tuesday. The deal would give Amazon and General Motors minority stakes in Rivian, the sources said. If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential.


Amazon and General Motors are in talks to invest in Rivian Automotive in a deal that will value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter told Reuters on Tuesday. The deal would give Amazon and General Motors minority stakes in Rivian, the sources said. If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential.
Amazon, General Motors are in talks to invest in Tesla rival Rivian: Reuters, citing sources Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, motors, matter, invest, electric, amazon, billion, rival, sources, general, rivian, citing, deal, tesla, talks


Amazon, General Motors are in talks to invest in Tesla rival Rivian: Reuters, citing sources

Amazon and General Motors are in talks to invest in Rivian Automotive in a deal that will value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter told Reuters on Tuesday.

The deal would give Amazon and General Motors minority stakes in Rivian, the sources said. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first car maker to the U.S. market with an electric pickup.

If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential. There is always a chance that deal talks fall through, the sources cautioned.

Amazon, General Motors and Rivian did not immediately respond to requests for comment.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, motors, matter, invest, electric, amazon, billion, rival, sources, general, rivian, citing, deal, tesla, talks


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tesla’s charging stations are a massive ‘competitive moat,’ Morgan Stanley says

Tesla has built up a global network of charging stations, which Morgan Stanley analyst Adam Jonas pointed to as a possible “competitive moat” that offers protection from other electric vehicle makers. “We estimate Tesla’s chargers may account for 30 percent to 40 percent of total US charging outlets counted by the US Dept. Jonas is widely followed on Wall Street for his thoughts on Tesla and electric vehicles. Tesla upped its network of global “supercharger” stations to nearly 13,000 by the end


Tesla has built up a global network of charging stations, which Morgan Stanley analyst Adam Jonas pointed to as a possible “competitive moat” that offers protection from other electric vehicle makers. “We estimate Tesla’s chargers may account for 30 percent to 40 percent of total US charging outlets counted by the US Dept. Jonas is widely followed on Wall Street for his thoughts on Tesla and electric vehicles. Tesla upped its network of global “supercharger” stations to nearly 13,000 by the end
Tesla’s charging stations are a massive ‘competitive moat,’ Morgan Stanley says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: michael sheetz, source, andrew evers cnbc, vcg vcg, getty images
Keywords: news, cnbc, companies, global, massive, total, electric, destination, chargers, morgan, charging, stations, teslas, jonas, competitive, stanley, tesla, network, moat


Tesla's charging stations are a massive 'competitive moat,' Morgan Stanley says

Tesla has built up a global network of charging stations, which Morgan Stanley analyst Adam Jonas pointed to as a possible “competitive moat” that offers protection from other electric vehicle makers.

“We estimate Tesla’s chargers may account for 30 percent to 40 percent of total US charging outlets counted by the US Dept. of Energy,” Jonas said in a note to investors on Tuesday. Jonas is widely followed on Wall Street for his thoughts on Tesla and electric vehicles.

Tesla upped its network of global “supercharger” stations to nearly 13,000 by the end of last year, while also increasing its total “destination chargers” to more than 21,000. Superchargers refuel most Tesla batteries in about an hour, whereas destination charging stations provide longer charging times more suited for long stays at malls or overnights at hotels.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: michael sheetz, source, andrew evers cnbc, vcg vcg, getty images
Keywords: news, cnbc, companies, global, massive, total, electric, destination, chargers, morgan, charging, stations, teslas, jonas, competitive, stanley, tesla, network, moat


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Amazon, General Motors are in talks to invest in Tesla rival Rivian: Reuters, citing sources

Amazon and General Motors are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday. The deal would give Amazon and General Motors minority stakes in Rivian, the sources said. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first car maker to the U.S. consumer market with an electric pickup. There is always


Amazon and General Motors are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday. The deal would give Amazon and General Motors minority stakes in Rivian, the sources said. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first car maker to the U.S. consumer market with an electric pickup. There is always
Amazon, General Motors are in talks to invest in Tesla rival Rivian: Reuters, citing sources Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, motors, tesla, citing, company, gm, invest, million, electric, amazon, deal, rivian, rival, talks, general, sources, pickup


Amazon, General Motors are in talks to invest in Tesla rival Rivian: Reuters, citing sources

Amazon and General Motors are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday.

The deal would give Amazon and General Motors minority stakes in Rivian, the sources said. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first car maker to the U.S. consumer market with an electric pickup.

If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential. There is always a chance that deal talks fall through, the sources cautioned.

“We admire Rivian’s contribution to a future of zero emissions and an all-electric future,” GM said in an emailed statement, declining to specifically comment on the talks with Rivian.

Amazon and Rivian did not immediately respond to requests for comment.

The Rivian deal would come as the world’s biggest electric car maker, Tesla, struggles to stabilize production and deliver consistent profits as it rolls out its flagship Model 3 sedan.

Tesla CEO Elon Musk told investors last August that an electric pickup is “probably my personal favorite for the next product” from the company, though he has spoken only in general about a potential launch, saying that it would happen “right after” Tesla’s Model Y, which the company has targeted to start production in 2020.

Rivian intends to begin selling its R1T, the pickup it debuted in November, in the fall of 2020. The company was founded in 2009 by CEO R.J. Scaringe.

Big automakers, including GM, have not jumped into the market for electric pickups thus far. GM CEO Mary Barra has said the U.S. automaker has given a “tiny bit” of thought to developing all-electric pickups.

Amazon has also invested in self-driving car startup Aurora, in a $530 million funding round announced last week. The worlds largest online retailer has steadily increased its logistics footprint, building warehouses around the world and inking deals with Mercedes as well as cargo airlines to help with delivery.

Rivian’s financial backers include Saudi auto distributor Abdul Latif Jameel Co (ALJ), Sumitomo Corp of Americas and Standard Chartered Bank. ALJ has agreed to provide almost $500 million in funding, Sumitomo invested an undisclosed amount, and Standard Chartered provided debt financing of $200 million.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, motors, tesla, citing, company, gm, invest, million, electric, amazon, deal, rivian, rival, talks, general, sources, pickup


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Ford executive raises doubts about VW deal for electric vehicles

Ford and Volkswagen appear increasingly unlikely to pull together a deal to work together on battery-electric vehicles, a senior executive with the Detroit automaker said this week. The two companies last month announced plans to team up on the development of light commercial vehicles, and confirmed that other projects were under consideration. It has been widely reported that a key focus was on battery-electric vehicles, or BEVs, a move that could help Ford and VW save billions of dollars by sh


Ford and Volkswagen appear increasingly unlikely to pull together a deal to work together on battery-electric vehicles, a senior executive with the Detroit automaker said this week. The two companies last month announced plans to team up on the development of light commercial vehicles, and confirmed that other projects were under consideration. It has been widely reported that a key focus was on battery-electric vehicles, or BEVs, a move that could help Ford and VW save billions of dollars by sh
Ford executive raises doubts about VW deal for electric vehicles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: paul a eisenstein, bill pugliano, getty images
Keywords: news, cnbc, companies, ford, vehicles, increasingly, development, electric, volkswagen, deal, detroit, doubts, raises, programs, vw, electrification, different, focus, executive


Ford executive raises doubts about VW deal for electric vehicles

Ford and Volkswagen appear increasingly unlikely to pull together a deal to work together on battery-electric vehicles, a senior executive with the Detroit automaker said this week.

The two companies last month announced plans to team up on the development of light commercial vehicles, and confirmed that other projects were under consideration. It has been widely reported that a key focus was on battery-electric vehicles, or BEVs, a move that could help Ford and VW save billions of dollars by sharing R&D efforts.

But their two programs are out of sync, “almost like snowboarding and skiing,” Jim Farley, Ford’s president of global markets, said during a taping of the local TV show Autoline Detroit on Monday.

Automakers around the world have begun looking for ways to partner with erstwhile rivals in order to address an increasingly challenging business environment. Many of these alliances focus on the development of new technologies, such as electrification and autonomous driving, areas in which both Ford and Volkswagen aim to take a lead.

But the two carmakers are taking markedly different approaches with their electrification programs, said Stephanie Brinley, principle auto analyst with IHS Markit, and a participant in the Monday Autoline panel discussion.

“They have two very different strategies,” Brinley said, and the “timing issues that just won’t mesh.”


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: paul a eisenstein, bill pugliano, getty images
Keywords: news, cnbc, companies, ford, vehicles, increasingly, development, electric, volkswagen, deal, detroit, doubts, raises, programs, vw, electrification, different, focus, executive


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post