Canada’s Magna will strengthen its ADAS product line by acquiring Veoneer of Sweden., Spin-off from Autoliv in 2018. Magna can supply a significant portion of the vehicle’s components and also operates contract assembly units. Magna said Veoneer’s complementary products and features will “strengthen and expand” its position in the ADAS product line and industry. This agreement adds “important engineering and software expertise, such as sensor recognition and drive policy software.” Under the formal merger agreement, Magna will acquire all Veoneer shares for US $ 31.25, or US $ 3.8 billion, respectively. The merger will expand Magna’s ADAS business with key customers and provide open access to new customers and regions, especially Asia. Magna operates Veoneer’s Arriver sensor recognition, as Veoneer currently does, to promote the Policy Software Platform as an independent business unit. Magna has also earned Veoneer’s “world-leading position in restraint control systems.”
Ford Aeon Park Located in Romulus, Michigan, Automaker announced. This is a battery and cell R & D center that will be manufactured later. Anand Sankaran, director of Ford Ion Park, said: “The new lab will help speed up the battery development process and provide higher performance and more affordable batteries. This is part of a new effort to put Michigan at the heart of EVs.” The new Collaborative Learning Lab will open in 2022. The Romulus facility will account for $ 100 million of the $ 185 million automakers spend developing, testing, and building battery cells and cell arrays for vehicles. Ford decided in 2010 to focus on Michigan EVs and chose Romulus “with collaboration and rapid technology sharing in mind.” At Romulus, Ford will refurbish its existing 270,000-square-foot facility to accommodate 200 engineers and pilot-scale equipment for electrode, cell, and array design, manufacturing engineering, and innovation. As part of a plan to vertically integrate battery cells and batteries, the lab will pilot new manufacturing technologies for groundbreaking battery cell designs using new materials.
Lucid Motors Started trading on Nasdaq Stock Exchange After completing the merger with Churchill Capital Corp IV, as Lucid Group under the new ticker symbol LCID. Lucid completed the previously announced merger on July 23, 2021. The company said the transaction would bring $ 4.4 billion to accelerate growth and increase manufacturing capacity to meet expected demand.
General Motors and its cruise robot taxi subsidiary reportedly Proceedings to prevent Ford from using the name Blue Cruise Promote hands-free driving technology. GM said Ford’s use of the Blue Cruise name infringes GM’s SuperCruise and Cruise trademarks. “GM wanted to amicably resolve the trademark infringement issue with Ford, but we are more than actively defending the brand and protecting the fairness that our products and technologies have acquired over the years in the market. I had no choice, “said GM. GM also said automakers had a “prolonged debate” on the issue but couldn’t resolve the dispute. GM alleged trademark infringement and unfair competition in the proceedings and sought a court order prohibiting Ford from using the Blue Cruise name and unspecified damages. Ford called the proceedings filed in federal court in California “useless and frivolous.”
Volvo Cars owned by Giri Reported the best half-year results in terms of sales and operating profit in 94 years of history.. The company said it achieved revenue of SEK 141 billion, up 26%, driven by strong demand and a positive mix effect, and increased sales of electric vehicles. Operating income for the first half of 2021 was SEK 13 billion, with an operating margin of 9.4%. Sales recovered 41% compared to the 2020 pandemic-affected period, but the company also saw strong growth of 12% compared to the first six months of 2019. This is a better comparison in the absence of pandemic confusion. Rolling sales in 12 months were about 775,000 units, slightly below the 800,000 unit target set 10 years ago. Volvo said the appeal of ITS electric vehicles was demonstrated in the first half by the demand for recharge models. Sales of both fully electric vehicles and plug-in hybrid vehicles have grown significantly and now account for 25% of global sales. The company claims that this is the largest share of electrification in the total sales of traditional automakers. As part of the move towards full electrification, Volvo has launched its second fully electric model, the Volvo C40 Recharge.
Ford has Raised the 2021 profit outlook after announcing better-than-expected financial results in the second quarter In North America, sales volume surged year-on-year. The company reported operating profit (adjusted EBIT) of $ 1.1 billion in the second quarter. This is compared to a loss of $ 1.9 billion in the same quarter last year. Ford raised adjusted EBIT and adjusted free cash flow for the full year 2021 from $ 9 billion to $ 10 billion (up $ 3.5 billion) and from $ 4 billion to $ 5 billion, respectively. He also said that he is managing due to a shortage of semiconductor supply. Ford had previously said it had lost about 50% of its planned second-quarter production, so it suffered losses during this period. In fact, Ford said it was better than expected, leveraging strong demand to optimize revenue and profits through a favorable combination of lower incentives and vehicles, generating $ 1.1 billion in operating profit. As demand recovery accelerated in the United States, Ford’s automotive business in North America achieved positive EBIT, an increase of $ 1.1 billion year-over-year. At the end of the second quarter, the total number of retail order banks for automobiles sold by US customers was seven times higher than in the same period in 2020. If the supply of semiconductors is stable and more closely aligned with demand and overall quantity, the business will be a “spring load” for recovery. From the first half to the second half, it is expected to increase by about 30% in sequence, and the market factors after deducting production costs are expected to improve.
Visteon posted Second quarter net loss of US $ 11 millionNet sales were $ 610 million, up 59%. Supplier won US $ 3.2 billion in new business in the first half of this year. This included a US $ 640 million expansion of the previously awarded Digital Cluster Program in the second quarter, bringing the total lifetime value of the program to US $ 1.5 billion.
Posted by DENSO First-quarter sales up 77.3% to US $ 12.3 billion, Consolidated profit attributable to owners of the parent, totaling US $ 808 million. “Revenues increased as vehicle sales and production for COVID-19 recovered from the previous year,” said Yasushi Matsui, Senior Executive Officer. “Operating income increased due to increased production and improved profits due to corporate reforms from the previous fiscal year. It is difficult to predict how the business environment will change due to factors such as COVID-19 and semiconductor supply. However, we achieved good results in the first quarter and raised our full-year forecast. ”The recovery in vehicle sales and production increased sales and operating income in all areas.
Posted by Volkswagen Group Record first half revenue, Driven by strong sales of Audi and Porsche. The company raised its outlook for this year’s profit margin, saying it expects an operating margin of 6.0-7.5%, compared to its previous 5.5-7%. Operating profit in the first half reached a record high of € 11.4 billion (a historical record of € 10 billion announced in 2019 before the pandemic), and VW “successfully contained the effects of the Covid-19 pandemic and the global semiconductor shortage. Was done. ” VW said record operating profit was driven specifically by Audi and Porsche, and Volkswagen Financial Services. Shipments in the first half increased by 27.9% year-on-year to 5 million units (3.9 million units), which was affected by the pandemic. Sales increased even further to € 129.7 billion (€ 96.1 billion), up 34.9%. The increase in revenue was primarily due to increased vehicle sales, improved product mix and price, and the positive effects of valuing raw material hedging. Temporary restructuring costs of € 700 million had a negative impact. According to VW, Audi and Porsche recorded record shipments in the first half, with double-digit operating margins of 10.7% and 17.6%, respectively. Increased vehicle sales and increased demand for profitable models increased Group revenue by 34.9% to € 129.7 billion (961) billion. By the end of June, a total of 171,000 all-electric vehicles (BEVs) had been delivered worldwide, more than double (+ 165%) year-on-year. After 60,000 BEVs were offered to customers in the first quarter, that number increased significantly as planned to 111,000 BEVs in the second quarter. The share of vehicles based on the Modular Electric Drive Toolkit (MEB) for all BEVs was already over 60% in the second quarter. As the model range expands, BEV growth will accelerate further throughout the year. The group has also systematically expanded its portfolio of models with plug-in hybrid drives (PHEVs). Customer demand for these models is high, with 171,000 PHEVs delivered in the first half of this year. This is more than three times the figure. Year-on-year (+ 204%). In a cautious note, VW said it expects the risk of bottlenecks and disruptions in the supply of semiconductor components to increase across the industry and that adverse effects “tend to affect the second half of the year.”
Have a nice weekend.
Graeme Roberts, Deputy Editor-in-Chief, just-auto.com
Magna M & A, Ford Aeon Park Site, Record VWH 1-Week
Source link Magna M & A, Ford Aeon Park Site, Record VWH 1-Week