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Extraction of lithium from geothermal wells to supply Tesla
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By shelitaauto
Source: Gasgoo
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link hidden, please login to view Cathie Wood of Ark Investment Management said Tesla’s move into the more profitable business of self-driving taxi platforms would boost its share price by about 10 times. That echoes years of optimism about Tesla’s self-driving business.
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Wood believes the self-driving taxi ecosystem will be worth $8 trillion to $10 trillion globally, with platform providers such as Tesla taking half of that. Speaking on the Tiger Money podcast, Wood revealed that investors are shifting the way they value Tesla, not just as an electric car maker, but also the potential of its self-driving taxis. Wood said: “The autonomous taxi platform is the fastest growing AI project today, and Ark is primarily valuing it based on Tesla’s autonomous driving potential. If we’re right, there’s plenty of room for Tesla’s stock price to grow.” Optimism over Tesla’s efforts to bring self-driving taxis to market has helped its shares recover a 43 per cent fall in the year to April 22. Wood said the self-driving taxi network will provide A “winner-takes-all” opportunity, with providers that can get passengers from point A to point B in the safest and fastest way winning the lion’s share of business. She added that autonomous taxi network providers will be able to capture 30 to 50 percent of the revenue generated by fleet owners on the platform, resulting in “growing explosive cash flows” and profit margins of more than 50 percent. This is different from the “make and sell” or “one-off” business model of traditional car manufacturing. “We think people are missing that: the size of the opportunity, the speed of expansion, and how profitable it will be,” Wood said. She expects Tesla to dominate the U.S. self-driving taxi market. Last week, Tesla had a weighting of more than 15% in the $6.5 billion Ark Innovation ETF. Wood said the fund has taken some profits off Tesla, allowing the stock to trade above its normal cap because they believe Tesla is about to reveal more information about its self-driving taxi project. According to a Bloomberg report on July 18, Tesla has delayed the launch of its self-driving taxi by two months to October, originally scheduled for August, to give the team more time to produce more prototypes. The news sent Tesla shares down 8.4%, their biggest one-day drop since January. But Wood doesn’t mind. “We may be closer to the self-driving taxi opportunity than we are further away, and Musk may want to do better and think it is possible by October,” Wood said. Fang’s valuation model does not yet take into account Tesla’s potential in China or in humanoid robotics and energy storage. In April, Tesla, which reached a mapping and navigation deal with Chinese tech giant Baidu Inc and met data security and privacy protection requirements, has already received approval in principle from Chinese officials to deploy its self-driving assistance system to China, the world’s largest auto market. -
By shelitaauto
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In the second quarter,
link hidden, please login to view’s electric vehicle sales in the United States again surpassed General Motors, ranking second in the U.S. electric vehicle market sales, and is on track to close the gap with Tesla.
Ford Mustang Mach-E; Image source: Ford
In the second quarter of this year, Ford sold 23,957 electric vehicles in the United States, a 61% increase from the same period last year, when total electric vehicle sales were 14,843. Meanwhile, Ford’s sales of hybrid vehicles rose 55 percent year over year. However, sales of internal combustion engine cars were down 5 per cent year on year.
Ford saw double-digit sales growth for several of its electric vehicles. Sales of the Ford F-150 Lightning rose 76.9% to 7,902 units. While new competitors such as the Tesla Cybertruck and the Chevrolet Silverado EV RST have all hit the U.S. market, the Ford F-150 Lightning remained the best-selling electric truck in the U.S. in the first half of the year, with 15,654 units sold.
Second-quarter sales of the Ford Mustang Mach-E were up 46.5% year-over-year to 12,645 units. In the first half of this year, 22,234 units of the Mustang Mach-E were delivered, the best performance ever. Sales of Ford’s E-Transit electric van continued to climb in the second quarter, rising 95.5 percent to 3,410 units from a year earlier.
In the first half of 2024, Ford sold a total of 44,189 electric vehicles in the U.S. market, up 72% from 25,709 in the same period last year.
Ford CEO Jim Farley said the automaker is shifting to smaller, more affordable electric vehicles to close the gap with Tesla and fend off competitors like BYD worldwide. Referring to Americans’ love affair with “larger vehicles,” Farley said smaller electric vehicles are “very important to driving the decarbonisation of American society and the development of electric vehicles.”
Ford’s surge in electric vehicle sales in the US market is enough for it to continue to overtake General Motors. In the United States, GM delivered 21,930 electric vehicles in the second quarter, compared with 38,355 in the first half of 2024.
GM is also ramping up production by introducing new models, with electric models such as the Chevrolet Blazer, Equinox and Silverado coming to the U.S. market. While Tesla did not give specific sales figures by region, its second-quarter electric vehicle sales worldwide exceeded expectations, delivering 443,956 electric vehicles and remaining №1 in the U.S. market.
As competition in the U.S. electric vehicle market intensifies, other competitors, including Hyundai and Kia, also set new EV sales records in the second quarter. Hyundai Motor, for example, set a new sales record with its IONIQ 5 model, which sold 18,728 units in the first half of the year. Meanwhile, sales of Kia’s first three-row electric SUV, the EV9, are also climbing.
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By Counterman
The
link hidden, please login to view — which tracks demand conditions, shortages, transportation costs, inventories and backlogs based on a monthly survey of 27,000 businesses — rose in April to -0.18, from -0.32 in March, which signals that global supply chains are operating at close to full capacity. An Index greater than 0 indicates supply chain capacity is being stretched. The further above 0, the more stretched the supply chains are. An index less than 0 indicates supply chain capacity is being underutilized. The further below 0, the more underutilized supply chains are.
Improving activity across global supply chains is a direct result of healthier demand, which has picked up consistently in the year-to-date after considerable weakness in 2023, GEP said. The Asian market is at the forefront of this trend, with input demand at the region’s factories remaining strong. Procurement managers in South Korea, Vietnam, India and China reported greater purchasing activity during April.
According to GEP Consulting, the North American market is showing more evidence of tightening capacity, with backlogged work reported by manufacturers, particularly in Mexico. Demand for raw materials, commodities and components, while still subdued, also improved slightly. Meanwhile, demand conditions were less robust in Europe, with the region’s manufacturing sector continuing to underperform and lag other parts of the globe. Positively, however, the industrial recession across the continent has eased considerably since late last year.
“After four years of supply shocks, inflation, stockpiling, and uncertainty, global supply chains are now operating in a Goldilocks zone, a steady state of full capacity, not expanding or contracting too quickly, which is excellent news for global suppliers and business,” Mike Seitz, vice president, GEP Consulting said. “In China, we’re seeing a steady pick-up in manufacturing activity, which will encourage Chinese Premier Li Qiang to accelerate efforts to remove barriers imposed by European markets and foster more FDI, especially as the potential for tougher U.S. tariffs and trade policies loom.“
April 2024 key findings
Demand: Global demand for raw materials, commodities and components remained close to its long-term average in April, highlighting vastly improved conditions in the worldwide manufacturing sector compared with late last year. As was also the case in March, Asia was the main positive force, with major goods-producing nations such as China, India and South Korea recording growth, according to GEP. Inventories: Inventory drawdowns persisted into April, albeit cooling in strength compared to March. Reports from global businesses of stockpiles rising because of price or supply concerns were among the lowest seen in over four years, GEP said. Material shortages: GEP said reports of a short supply for items, including semiconductors, foodstuff, chemicals, and metals, remain historically low. Labor shortages: After rising for the past three months, GEP said global reports of backlogged orders rising because of staff shortages fell in April and were broadly aligned with historically typical levels. Regional differences persisted, however, with North America seeing greater labor shortages than elsewhere. Transportation: Following recent increases in oil prices, global transportation costs rose for the first time this year in April, according to GEP. Regional supply chain volatility
North America: Index broadly unchanged at -0.30, versus -0.31 previously. Although indicative of spare capacity, the input demand trend ticked higher in April, while increased backlogs of work were also reported, GEP said. Europe: Index fell to -0.55, from -0.62. GEP said April’s increase suggests the continent’s industrial downturn continued to ease. U.K.: Index decreased to -0.47, from -0.17 as U.K. manufacturers destock sharply instead of ordering from suppliers, GEP said. Asia: The Index rose to 0.07, from -0.07, signaling the first month of stretched supplier capacity since January, according to GEP. The post
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By Counterman
Eric Johnson, president and managing partner of Arnold Motor Supply/The Merrill Company, is visiting Northwood University this week to meet with students enrolled in automotive aftermarket courses.
“Efforts to encourage and educate students are so valuable because not only are we helping individuals, we’re also helping to shape the future of our industry,” Johnson said. “Preparing students with the mindset, skills and knowledge they need to be successful contributes to the overall growth and innovation of the aftermarket.”
Johnson, a member of the Aftermarket Auto Parts Alliance board of directors, spoke with students enrolled in aftermarket category management, aftermarket management research and aftermarket manufacturing management, among others.
“As a University of the Aftermarket graduate and supporter of Northwood University, Eric wanted to invest in the future leaders of the industry by sharing several real-life cases relevant to the aftermarket classes,” said Dr. Thomas Litzinger, executive director of the University of the Aftermarket/Northwood aftermarket industry chair.
Students enrolled in aftermarket category management are prepared for the role of product manager through inventory-modeling techniques and data analysis. The aftermarket manufacturing management course explores the role manufacturers play in the aftermarket and what business functions they employ.
Aftermarket management research teaches students research techniques to form a hypothesis and sample the data to reject or not reject the hypothesis.
“Our students are eager to engage with industry leaders and learn from their expertise,” said James O’Dell, assistant director of aftermarket education. “This real-life industry experience sets Northwood students apart, makes them uniquely qualified and prepares them for success in their career.”
The global market value of the aftermarket exceeds $400 billion. Northwood’s
link hidden, please login to view is the only one of its kind. Students in this program are fueled by their passions for cars, the aftermarket and turning this passion into a career someday. “The program has nearly a 100% employment rate for all graduates in the program,” Northwood said in a news release. “Part of their success is because Northwood helps them engage in real-world experiences and network with industry leaders like Eric Johnson.”
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By Counterman
The Automotive Parts Services Group (The Group), a joint venture of The Pronto Network and Federated-Alliance, recently announced a national supply agreement with Monro Inc. on behalf of member distributors.
“The ability to provide national coverage through our collaboration with a single central billing process is key with national customers like Monro,” said Larry Pavey, CEO of the Automotive Parts Services Group. “By working together, our members are able to deliver the same benefits as retail competitors, as well as local expertise and dedication to the needs of professional service providers. This agreement provides members of The Group with the opportunity to offer premium parts and service to Monro and their more than 1,300 locations through an efficient, coast-to-coast system integration.”
The national supply program will begin in several pilot areas and will expand throughout the country in future weeks.
“We are excited about the agreement and working with The Group members who focus on serving professional service providers,” said Austin Phillips, vice president of marketing, merchandising and commercial for Monro. “We are impressed with The Group’s ability to develop integrated processes that allow their different members to act as one company which was essential to us. We recognize that working with their members and high-quality suppliers will allow our stores to provide enhanced value and service for our customers.”
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