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Updated: 24 weeks 3 days ago

SsangYong announces new vehicles plan for next five years

Tue, 07/31/2018 - 18:55
SsangYong announces new vehicles plan for next five years

During a recent presentation to Australian journalists in South Korea, automaker SsangYong shared some pertinent information about its plans for the vehicles it intends to launch in the period between 2019 and 2024.

The presentation by Ssang Yong has come a few months ahead of the brand’s scheduled relaunch in South Korea in November 2018. Earlier this decade, the Ssang Yong fell into receivership and faced bankruptcy, but Indian giant Mahindra saved the company by purchasing it.

In its recently-held presentation, the Ssang Yong told Australian journalists that it plans to launch two new-generation SUV models as well as an MPV product in the mentioned time period. In addition, the automaker also revealed that it has efforts underway to also launch an electric-powered crossover and dual-cab ute (or pick-up).

The disclosure by SsangYong implies that the company may possibly be the first automaker to bring a battery-powered dual-cab ute to the market.

According to the details revealed by Ssang Yong, the company’s dual-cab ute will be a Musso-sized electric vehicle which is presently in an “advanced work for 2024” stage. About the electric ute, Dan RIM -- Executive Director of Exports at Ssang Yong -- said: “We’re still developing this concept [but] I think we’re launching around 2023, it’s changing but it depends on the different country’s regulations.”

Business: Auto SectorCompanies: Ssangyong MotorsRegion: AustraliaGeneral: TNMFeatured

Electric Vehicles could lead to massive job losses: UAW

Sun, 07/22/2018 - 07:12

The Union of Auto Workers (UAW) has warned that the increasing adoption of electric vehicles (EVs) in the US could have a devastating effect on the jobs in the country. As per the warning, the EV revolution could result in jobs losses in the US.

The warning by the UAW has come against the backdrop of its currently ongoing efforts to unionize American EV maker Tesla’s Fremont manufacturing facility, which is biggest EV factory in the country. According to the union’s filings, it has spent more than $400,000 in 2017 on its ‘Tesla Campaign.’

The UAW’s earlier attempt at unionizing EV production in the US involved Japanese automaker Nissan’s LEAF-manufacturing Smyrna factory. But, that attempt was not successful.

The UAW’s warning about the disastrous impact of EV adoption on the US job market has come almost a month after the release of a study by German automotive labor union, in which it has been projected that the auto industry’s switch to EVs could lead to a loss of at least 75,000 jobs.

In asserting that the rise of EVs will probably be dire for US jobs, UAW’s research director Jennifer Kelly said that a transition to EVs will eliminate the jobs of “the workers who are making engines and transmissions today,” and added: “We’re looking at a considerable net job loss just in that technological transition.”

Region: United StatesBusiness: Auto SectorGeneral: TNMFeatured

Tesla Received over 7,000 orders last week: Elon Musk

Sat, 07/21/2018 - 17:57
 Elon Musk

According to a recent disclosure by Tesla Motors CEO Elon Musk, the automaker received new orders for more than 7,000 electric vehicles last week. The disclosure was made by Musk in an evident effort to dismiss the notion that Tesla is witnessing a flattening demand for Model 3. Traders have been selling Tesla Motors stock over the last few months and some of them have been trapped as the company managed to release strong production report during the recent quarter. Elon Musk has been closely watching and sharing reports about Tesla Model 3 production numbers.

Further elaborating on Tesla’s new order breakdown from last week, Musk has confirmed that the new orders received by the automaker for its Model S and Model X electric cars topped 2,000 last week, while the new orders for Model 3 electric car surpassed 5,000.

Musk’s disclosure about Tesla’s new order breakdown from last week underscores a rare move by the company. The automaker generally discloses its delivery and production numbers at the end of a quarter.

Musk has apparently shared the latest new order breakdown in response to recent claims by top Wall Street analyst Rajvindra Gill -- at Needham -- that Model 3 new orders are being outpaced by cancellations. With regard to Model 3 cancellations and new orders, Gill had specifically said in a note to clients: “Based on our checks, refunds are outpacing deposits as cancellations accelerate.”

However, some reports had pointed out that there were several other inaccuracies in Gill’s report. In addition, a statement was also issued by Tesla to refute Gill’s claims that the automaker is getting more Model 3 cancellations than new orders.

Companies: Tesla MotorsRegion: United StatesGeneral: TNMFeaturedPeople: Elon MuskBusiness: Auto Sector