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Hyundai and Kia Will (Still) Come to Tesla


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Hyundai and Kia yes of them attractions are located on Tesla’s first place Sales of EV, Honda’s motobike can get it supply chain out of China and Tesla wants California to get rid of it race prejudice lawsuit against the company. All that and more in Morning shift Because August 24Year 2022.

First gear: Tesla’s shrinking EV conductor

Hyundai and Kia have officially taken over second place in the US electric vehicle market share. The only company ahead of them now is Tesla. It is a similar story in Europe. Two Korean automakers’ market share in Europe currently stands at 12%. The company earned the highest electric vehicle market share of any company last year.

Globally, excluding China, Hyundai and Kia are the second largest electric vehicle manufacturers by shipments. They have a total of 14 percent market repost. That follows Tesla, which has a 27% market share. However, Hyundai and Kia still have a lot of work to do. Are from Financial Times:

This gap reflects the competitive advantage Tesla has gained over the decade that it has maintained its market leadership position. Tesla’s fun factor – brand studies have ranked it as the “coolest” automaker among millennials – is one that’s hard to replicate. So does its fast charger network, remote software updates, and vast trove of data from its drivers, which, along with machine learning algorithms, continuously improve its software.

The latest hike for Tesla came last week. President Joe Biden’s list of vehicles eligible for taxes from the newly signed Inflation Reduction Act includes all four Tesla models currently on sale, but none from Hyundai or Kia.

More accurate comparisons can be made by looking at profitability. Tesla’s lightweight business model means it has a high operating margin of 16%, more than double that of Hyundai’s 6%, which has broader product lines and must account for a relationship. strong wit.

The long-term trends for Hyundai and Kia are good, though, and the FT says it isn’t dissimilar to Samsung verse Apple circa 2010.

Samsung’s share of the global market was less than 6 per cent, compared with Apple’s lead of more than a fifth. It took just two years after the launch of its higher-priced Galaxy smartphone series for Samsung to overtake Apple in terms of worldwide handset sales.

By the second half of 2013, Samsung’s global smartphone marketshare was nearly three times Apple’s.

2nd Gear: Honda’s Chinese Supply Chain Decision

Honda is thinking about getting its non-domestic supply chain out of China in order to reduce its dependence on the country. This would be a huge move for the company, and the reasoning is reported as two-fold. Production output from China has been choked by COVID lockdowns, and there are some worries about the impact of tensions between China and the United States, Reuters reporting, via Sankei.

About 40% of Honda’s auto production was in China in the company’s 2021 fiscal year. Although their out-of-home production may leave the country, Honda will still produce Chinese domestic vehicles there. Are from Reuters:

A Honda spokesperson said the Sankei report was not something the company published, adding that it was working to review and hedge risks to its supply chain as a whole.

“Reviewing the supply chain from China and hedging are factors that need to be considered, but it is not quite the same as the goal of decoupling,” the spokesperson said.

The government has previously encouraged companies to bring production back to Japan, although uptake appears to have waned, with some executives and analysts suggesting it would be difficult for Japan Inc. abruptly left a market where they had established stable production and logistics centers. .

Mazda is a bit ahead of the curve in terms of decoupling with China. The Japanese company said it would ask component suppliers to increase inventories in Japan and produce more components outside of China.

3rd gear: Tesla wants its racial bias lawsuit to be eliminated

Tesla’s lawyers are trying to convince a California judge to drop a lawsuit filed by the state’s Department of Civil Rights. That lawsuit alleges car manufacturer’s racism at an assembly plant.

Despite the fact Tesla is facing a number of other discrimination lawsuits from employees, the company says the incident is politically motivated. Are from Reuters:

In a February lawsuit, DCR said Tesla’s flagship factory in Fremont, California, was a racially segregated workplace where Black employees were harassed and discriminated against over assignment. work, discipline and pay.

Tesla, has denied wrongdoing and its attorneys did not respond to a request for comment on Tuesday. So does the DCR, which until last month was called the Department of Fair Employment and Housing.

In April, a state judge reduced the jury verdict against a black worker accused of racial harassment from $137 million to $15 million. Plaintiff declined the reduced reward and opted for a new trial, scheduled for March 2023.

In its motion to dismiss DCR’s case, Tesla said the agency ignored its obligations under state law by filing a lawsuit without notifying the company in advance of all claims or giving them chance to solve.

The agency responded that prior to filing the lawsuit, it followed all of its internal procedures, including giving Tesla the opportunity to enter mediation.

Before that,Even more bleak, Tesla filed a complaint with the state of California claiming that alleged DCR faults are widespread. The company also said the agency’s procedures were not legal. One thing’s for sure: Lots of lawyers will make a lot of money before this is all over.

4th gear: Toyota gets confused by Hino

Recently, Hino has been having a hard time with this. The company is embroiled in a number of caliber emissions scandal and fuel economyand now Toyota is removing the truck maker from an all-Japan commercial vehicle conglomerate.

Hino joined the consortium to accelerate the transition to electrification just over a year ago. Now it raises a big question mark about what happens next for the company. Are from Automotive News:

Toyota and Hino announced their decision to deport Hino on Wednesday, arguing that Hino’s “misbehavior” was inconsistent with the group’s “wants and goals”.

The world’s largest automaker jointly established Japan Commercial Partnership Technology Company, or CJPT, in April 2021 to help transform Japanese commercial vehicle manufacturers into technology. battery-electric, hydrogen fuel cell and self-driving.

The company initially brought together Toyota, Hino and Isuzu, with Toyota agreeing to take a 4.6 percent stake in Isuzu as part of the relationship. Toyota already holds a 50.1% stake in Hino.

“We are extremely disappointed in the company’s misconduct,” Toyota President Akio Toyoda said of Hino. “Hino has been involved in engine certification misconduct for a long time and the company is in a position of not being recognized as one of the 5.5 million individuals in the Japanese auto industry.” .

Hino employee accused Mock tests on engines used on 640,000 vehicles in the past. Now, 66,817 are being recalled.

Toyoda added that Hino joining CJPT would be “inconvenient” for other team members as they work on electrification. Woof… about a frustrated parent.

5th gear: CATL is working fine

CATL is the world’s largest maker of EV batteries and it’s killing it right now. The company said on Wednesday that it more than doubled profits in the second quarter of 2022. The news comes as the Chinese government rolls out new incentives to boost sales of electric vehicles. This move is meant to cushion the blow of COVID lock during that period.

CATL’s customers include Tesla, Volkswagen, and BMW at the present time. The company reported a net profit of $974.64 million (6.68 billion yuan) from April to June of this year. That’s a 164% increase from just a year ago, Reuters said. Not too bad.

Are from Reuters:

The company said the COVID-19 outbreak during this time, including closures in several cities, including Shanghai, has affected its domestic market. However, demand remains strong as local governments roll out incentives to boost EV sales and companies launch new models.

CATL said that electric vehicle sales growth has outpaced the overall trend of weakening auto sales in key markets of China, Europe and the United States, which have been impacted by COVID and supply chain problems.

In China, electric vehicle sales rose 120% in the first half of the year, while overall vehicle sales fell 6.6%, according to the China Association of Automobile Manufacturers.

CATL said it has taken measures including signing long-term contracts with suppliers, recycling materials and negotiating dynamic battery pricing options with automakers to ease upward pressure. cost.

CATL also said it is accelerating its expansion into overseas markets. It has new contracts to supply batteries to Mercedes-Benz, BMW, and Ford.

Overall, CATL .’s global EV battery market share at 34.8% in the first half of 2022, up 6.2% from a year ago.

Reverse: A real quick move



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