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First Brands Group Acquires Brake Parts Inc. And Champion Laboratories
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By shelitaauto
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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 Counterman
Northwood University recently announced its 2024 Class of 20 Under 40 honorees.
Established last year, the 20 Under 40 program recognizes NU alumni who are ambitious professionals doing great things in their careers, organizations or communities.
“Last year’s inaugural 20 Under 40 event was a phenomenal success in terms of alumni engagement and participation, and most importantly, in recognizing the impact NU alumni are making locally and around the world,” stated Julie Adamczyk, senior alumni and engagement officer. “This year, we received more than 230 nominations. This is a testament of how many alumni are deserving of this recognition — narrowing it down to 20 was a difficult job.”
The 2024 Class of 20 Under 40 includes the following individuals along with their town of residence (located within Michigan unless otherwise noted); graduation year; and current professional roles:
Nick Andres of Atlanta, 2019, MBA 2020, strategic planning senior analyst – electric vehicles, Cox Automotive Yan Bowers, of Okemos, 2012, senior manager, Plante Moran Ethan Bregger, of New Boston, 2011, MBA 2017, sales manager – retail, Tenneco Inc. Jackie Brooks, of Denver, 2006, CEO, Loudr Corey Ferris, of Midland, 2006, director of asset management, Hantz Financial Services Inc. Lane Fortinberry, of Clarkston,2008, founder/owner, Formatic Digital Lauren Griewski, of Cornwall, New York, 2007, senior vice president of strategic partnerships and global agencies, Rokt Andrew Hanagan, of Oak Park, 2015, realtor, Good Company Realty Tony Johnson, of Valrico, Florida, 2015, MBA 2016, director of operations, Domino’s Nathan Lindstrom, of Odenton, Maryland, 2008, director – dealer policy, Toyota Motor North America Paul Mersino, of Canton, 2005, president/CEO, Butzel Jake Riepma, of Dallas, 2015, on-air host, Chat Sports Bryce Rucker, of Ferndale, 2009, attorney and business advisor Nathan Schick, of Birmingham, 2023, general sales manager and marketing manager, Auto Europe Inc. Autumn Schwalbe, of Ypsilanti, 2020, performance parts product specialist and planner, Ford Motor Company Ann Marie Taepke, of Apex, North Carolina, 2007, chief marketing officer, Holderness Family Productions DeAnte Thompkins, of Troy, 2010, market director, Thrivent Tray Thompson, of Arlington, Texas, 2016, manager – corporate social responsibility, Dallas Mavericks Kristi Wagner, of Brooklyn, New York, 2006, director – partnership activation, Major League Baseball David Wilson, of Preston, Maryland, 2008, president/CEO Preston Automotive Group “From the automotive industry to professional sports organizations, this year’s class features an incredible community of entrepreneurial leaders who are driving economic and social progress in their local communities and around the U.S. and world,” Adamczyk said.
This year’s class will be honored during a reception at 7 p.m. April 5 at the Atheneum Suites Hotel International Banquet and Conference Center in Detroit. To register, get hotel reservation codes and explore sponsorship opportunities, visit
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By Counterman
Continental has introduced 10 new professional-quality driving lights as part of the company’s NightViu line.
The new lights have been designed to help improve operational safety by dramatically increasing nighttime visibility.
Engineered for use in agriculture, construction and mining, the new NightViu driving lights also are suitable for marine and powersports applications. They feature rugged aluminum diecast housings with cataphoretic coating, and resilient shatterproof polycarbonate lenses. Depending on the model, they are rated IP69K or IP67K for ingress protection (IP) from dust and water, according to the company.
NightViu multi-function driving lights and lightbars feature free-form reflectors that direct the light beam exactly where it’s needed. NightViu reversing lights feature Fresnel lenses to create a broad field of illumination directly behind the equipment. NightViu driving lights provide up to 5,500 lumens and a beam field length of up to 440 meters.
NightViu driving lights feature an integrated electronics driver and thermal management system to allow them to operate safely from minus 40 F to 190 F. They produce from 50 to 100 lumens per watt, depending on the model, and have been designed to ensure that they do not create electrical interference that could affect the vehicle’s existing electronics.
“Our new NightViu driving lights provide the illumination that operators need for maximum nighttime safety,” said Edwin Betancourt Jr., product manager, Continental. “With three styles and a choice of configurations, they offer the right light for just about every application.”
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