You may soon see Rivian delivery trucks in your vicinity, Porsche’s long-anticipated initial public order may be back in the standard again, and Honda is the latest to suspend some factories. All that and more in this Friday edition of Morning shift for July 22, 2022.
Gear 1: Amazon Prime, Roll Out
With all the attention behind Rivian R1S and R1T, it’s easy to forget that they represent only one spearhead of Rivian’s strategy. The other is commercial vehicles, and finally, the startup delivered its first trucks to investor Amazon this week. Are from Automotive News:
Amazon announced the road-ready EDVs at a last-mile delivery hub in Chicago, the companies said. Amazon has been testing pre-production vehicles since last year.
“Starting today, customers across the U.S. will begin seeing custom electric delivery vehicles from Rivian deliver their Amazon packages, with electric vehicles on the road in Baltimore, Chicago, Dallas, Kansas City, Nashville, Phoenix, San Diego, Seattle and St Louis, among other cities,” the companies said.
Amazon has ordered 100,000 delivery vehicles from Rivian, with delivery expected within the next eight years. It’s still unclear how many of the company’s branded Rivian trucks are on the road, though Amazon expects them to operate in “over 100 cities” by the time 2022 ends. It also won’t be just a truck; Rivian has taken a modular approach, offering different types of trucks for different jobs:
The trucks for Amazon’s fleet will come in a variety of sizes, based on cargo capacity.
Rivian says the EDV 700, with 700 cubic feet of cargo space, is rated at more than 200 miles of range. The automaker is also making the smaller EDV 500, and plans a larger EDV 900 — both with a range of at least 150 miles.
Shares of Rivian have been sliding for much of 2022, falling from about $100 per share to $20 two months ago. Today it’s at $33. RJ CEO Scaringe recently announced that Rivian produced 4,401 vehicles in the second quarter of 2022, it is still on track to meet its year-end target of 25,000 units. “Supply chain and manufacturing are going strong!” the CEO tweeted earlier this month. However, amid all the good news, Scaringe predicts job cuts in the long run. Again, from Automotive News:
In a letter to employees last week, Scaringe acknowledged that the automaker was considering cost-cutting “to stay ahead of the changing economic landscape.”
“The hardest part of this process was going through our organization to assess the size and structure of our teams and how this aligns with our strategic plan,” says Scaringe. know in the letter, which Rivian shared with Automotive News.
2nd gear: Does Porsche When will it be public?
Volkswagen talked about a big game at the beginning of the year when it announced the possibility it will float Porsche worth more than $11 billion as part of its initial public offering before the end of 2022. Overall, some analysts have valued Porsche at more than $80 billion, despite VW may have to deal with much less due to circumstances beyond its control. Are from Reuters:
Two people involved in the landmark billion-euro list said Porsche could have to slash prices if it insists on moving ahead before economic headwinds mount.
The prospect of a larger-than-usual discount will be an obstacle for controlling families in pushing their initial public offering to finance a costly shift away from motorsports. from gasoline to electricity.
Initial expectations were high for the luxury car brand owned by Europe’s largest carmaker, Volkswagen. Some have valued Porsche at more than 80 billion euros ($81.89 billion), according to the bankers involved.
But those involved say a larger-than-usual discount may now be needed to secure what could be one of the world’s biggest stock markets debut – amid war, relations threat of degradation and energy shortage.
One of these people said Porsche could have to settle for at least 60 billion euros, noting that owners would not accept anything less.
Volkswagen has been talking about this legendary Porsche IPO, and at the end of last year, the head of the carmaker expressed that it had brake pump on plan. Don’t be surprised to see that headline repeated if it doesn’t achieve the value Porsche wants.
3rd gear: Today is Honda
It seems that every morning, some automakers announce production cuts at one or more of their facilities. It has hit every automaker at one point or another. Today, the wheel of bad luck has arrived at Honda. Are from Reuters:
Honda Motor Co. said it will cut production in Japan by up to 30% next month from its original plan due to ongoing logistics and supply chain problems.
Honda said that two lines at the Suzuka plant in western Japan will reduce production by about 10% this month and about 30% in early August compared to previous plans.
Its assembly plant in Saitama Prefecture, north of Tokyo, will also cut output by about 10% early next month.
I wish we started keeping scores of this two years before it started, would make for an interesting visual. Anyway, this is already yours Supply chain failure Updated for July 22, 2022.
4th gear: Volkswagen wants spiced SUVs for the US
Hyundai recently discontinued the Veloster N hot hatchalthough the engine of that vehicle is available in Kona WOMEN and Elantra WOMEN. The Kona N deserves emphasis, because it reflects a growing trend in the industry – repositioning small and midsize crossovers into entry-level performance cars.
Volkswagen does this in Europe with the Tiguan R, but the Tiguan R is not available here. However, that number will change down the line, as the brand has confirmed CarBuzz.
When asked if there is a need for the Tiguan R to be brought to the state, Schafer said CarBuzz that the US VW Group “certainly tried to get the Tiguan R here when the car was launched in Europe” but ultimately failed for various reasons. One of them is the difference in body structure, as the US only has a longer version of the Tiguan.
However, he had good news about the US special Tiguan. “I can confirm the Tiguan will have a successor,” he told us. “Whether it’s going to be a full R, maybe not – but I can tell you there will be a derivative in the Tiguan lineup that will be a little bit more and a bit more playful.”
Schafer could not confirm how much power the efficiency derivative could have. “Whether that will be like an R, 100-150 hp more than the standard derivative remains to be seen, but we are working on something with a little more power in the Tiguan. .”
Atlas will likely also have a more powerful variant, although that variant will no longer have the full “R” designation. CarBuzz predicts the next Tiguan will arrive in about two years, so don’t rush to your local Volkswagen dealer in the hopes of getting one any time soon.
5th gear: Focus and Fiesta
Exactly a month ago, I poured one for the Ford Focus, may not have a particularly long-term future in Europe at the rate things are going. This week, Ford confirmed that it has temporarily limited orders for the new Fiesta and Focus for the time being, although pre-configured vehicles will still be available. Are from Automotive News:
Ford Motor Co. is severely limiting the availability of key Fiesta and Focus models to order across Europe, and is closing orders for both models until further notice.
This means that only pre-configured models can be ordered until further notice, as the automaker responds to long delivery times, according to a report in European Automotive News sister publications Car.
“Due to good customer demand, however, also due to the production situation, we currently have delivery times of up to 12 months in some cases for different vehicle models,” a Ford spokesperson said. said Car.
“We closed free orders to our dealers for the Ford Focus and Ford Fiesta, among others, some time ago,” a spokesperson said. “However, we are making production quantities available to our dealers as pre-assigned units based on customer demand.”
This is Ford’s way of ensuring that customer orders can be met and that available production capacity can be used in the best possible way, he added.
Markus Thal, head of the board at Ford’s plant in Saarlouis, Germany, where the Focus is made, confirmed the unusual measure and said orders that are currently being received will run in 2023. know it is currently not possible to deliver. a Focus before next spring.
According to employee representatives, Ford now projects annual production of just 117,000 Focus vehicles for the current year, down from its original plan of 195,000.
Here’s how Ford’s best cars – its small cars – come out: Not because of a bang, but the inability to order one you really want.
Reverse: Seven days in the sky
On this day 89 years ago, Wiley Post flew solo around the world. I mean, not without breaks; he has to go to the toilet at some point and certainly not like the birds do. Right? Are from History.com:
American pilot Wiley Post returned to Floyd Bennett Field in New York, flying solo around the world in 7 days, 18 hours and 49 minutes. He was the first pilot to achieve the feat.
Post, instantly recognizable by the patch he wears on one eye, began his journey on July 15, flying directly to Berlin. After a brief respite, he flew on to the Soviet Union, where he made several stops before returning to North America, with stops in Alaska, Canada, and finally a successful landing at from New York.
Two years earlier, Post had earned fame by successfully flying around the north side of the earth with pilot Harold Gatty. For his solo round-the-world flight in 1933, he flew a slightly longer distance — 15,596 miles — in less time. For both flights, he used Winnie Mae, a Lockheed Vega single plane equipped with a Sperry autopilot and a navigational beacon for Post’s solo voyage. In August 1935, he was trying to fly across the North Pole to the Soviet Union with American comedian Will Rogers when both were killed in a crash near Point Barrow, Alaska.
Neutral: Whatcha Been Spinnin’?
I haven’t heard “new music” and I mean anything I haven’t heard before – in about half a year. That’s not a great feeling! Earlier this month, the criminally underrated Canadian rock band Metric released a new album, Formentera, helped me fix that. It also starts with a 10-minute opening music which, if you know Metric, is usually not their pocket. Rest assured yes some bangers are simpler on the watchlist, too. What are you listening to these days?