Tesla’s first-quarter deliveries hit a record high; Subaru Suzuki suspends production due to lack of core; autonomous driving startup Argo AI seeks to go public

publish_time: 2021.04.06

  Tesla delivered a record high in the first quarter

  

  According to data from Refinitiv, Tesla delivered 184,800 vehicles in the first quarter, higher than the expected 177,822 vehicles, and also higher than the previous quarter’s record of 180,570 vehicles. During the same period, Tesla's production increased slightly to 180,338 vehicles, which was higher than the fourth quarter's production of 179,757 vehicles. Tesla said that strong demand (especially in China) has offset the impact of global component shortages.

  

  Tesla's market value increased by $50 billion

  

  On April 5th, Tesla’s stock price soared after announcing a record quarterly delivery. The stock rose by nearly 8% in premarket trading, which is expected to reach its highest level in more than a month, which also makes the company’s market value. An increase of about 50 billion US dollars.

  

  Autonomous driving startup Argo AI seeks to go public

  

  According to people familiar with the matter, Argo AI, an autonomous driving startup supported by Ford Motor and Volkswagen Group, is considering listing as early as this year. Bryan Salesky, co-founder of Argo AI, told employees at a staff meeting on April 1 that the company is seeking to increase funding to further commercialize its autonomous driving technology. At present, it is not clear whether Argo AI will conduct a traditional IPO or merge with SPAC.

  

  Subaru's Japanese factory is idle due to chip shortage

    

  Subaru said that due to a shortage of chips, production at the Yajima plant will be suspended from April 10 to 27, which will affect the production of about 10,000 vehicles. The Yajima plant produces some popular models of Subaru, such as the Legacy sedan and Forester crossover.

  

  Suzuki will suspend production at two factories in central Japan

  

  Due to the shortage of semiconductors, Suzuki Motor's three auto plants in Japan, two plants in Shizuoka Prefecture will temporarily suspend production. This is the first time that Suzuki has been forced to suspend production due to a lack of semiconductors. However, Suzuki has no plans to cut production for the time being. The company plans to operate factories during the holidays to make up for the loss of shutdown.

  

  Hyundai Motor considers suspending production of Grandeur in South Korea due to lack of core

  

  Hyundai Motor is considering suspending the production of another major domestic plant in South Korea, which is responsible for the production of its flagship model, the Grandeur sedan, in response to a shortage of chips. Hyundai Motor’s management is negotiating with the labor union to suspend production at the Asan third plant for three days from April 7th to 9th, and to suspend half of the production line from April 12th to 15th.

  

  Apple cars are most disturbing to high-end automakers

  

  Bernstein analysts believe that Apple Cars may most disturb traditional high-end automakers because Apple has the ability to use its brand influence to sell 1.5 million cars a year by 2030. Apple’s ability to equip cars with a software ecosystem used by millions of iPhone users is perhaps its biggest asset and one of the biggest fears of traditional automakers.

  

  Hyundai Kia expects Q1 to maintain strong earnings momentum

  

  South Korea’s largest automaker Hyundai Motor and its subsidiary Kia Motors expects to maintain a strong profit momentum in the first quarter of this year. Despite the shortage of chips, they managed to maintain uninterrupted production despite the recovery of global demand. Hyundai Motor expects operating profit in the first quarter to be approximately 1.46 trillion won (1.3 billion US dollars), an increase of 69.1% year-on-year; sales increased 4.85% year-on-year to 26.56 trillion won. Kia Motors expects operating profit for the same period to be 1.09 trillion won, an increase of 146% year-on-year; sales are expected to increase by 11.12% year-on-year to 16.19 trillion won.

  

  Waymo Autonomous Driving Division CEO resigns

  

  On April 3, John Krafcik, CEO of Waymo, Alphabet’s self-driving car company, announced his resignation. His position will be jointly held by Waymo’s Chief Operating Officer Tekedra Mawakana and Chief Technology Officer Dmitri Dolgov.

  

  Tesla filed a complaint against the order of the U.S. Labor Council

  

  Last month, the National Labor Relations Board (NLRB) ruled that Tesla violated US labor laws and that CEO Elon Musk should delete tweets about “anti-union”. In response, Tesla submitted a petition to the U.S. Court of Appeals in New Orleans, requesting a review of the ruling and order issued by the NLRB on March 25.

  

  Even without Republican support, Biden will continue to promote its infrastructure plans

  

  US Secretary of Energy Jennifer Granholm stated on April 4 that if US President Biden fails to reach a bipartisan agreement, he will continue to promote his $2 trillion infrastructure plan without the support of Republican lawmakers.

  

  GM releases electric Hummer SUV priced at over $110,000

  

  On April 3, General Motors released a pure electric Hummer SUV, which is expected to be launched in 2023 and will cost more than 110,000 US dollars. This car will be the same grade model of the Hummer pickup that will be launched this fall.

  

  Tesla launches night charging discount plan in California

  

  Tesla launched a new 50% off supercharge discount at supercharge stations in California metropolitan areas. Avoiding the peak charging period, charging at all super charging stations in major urban areas in California before 10 am and after 7 pm can save 50% of the cost.

  

  Italy's car sales surge 497% in March

  

  According to data from the Ministry of Infrastructure and Transport of Italy, compared with the same period last year, the number of new car registrations in the country in March this year increased by 497% year-on-year to 169,684, but it still fell compared with the level before the pandemic in March 2019 That’s 13%.

  

  Spain's car sales in March surged 128% year-on-year

  

  According to data from the ANFAC industry organization, the number of new car registrations in Spain in March this year increased by 128% year-on-year to 85,819. However, this number is still 30% lower than the level before the pandemic in March 2019

  

  Europe may take the lead in the electric car battery competition

  

  As Europe is expected to lead the rest of the world in electric vehicle sales for the second consecutive year, the region is striving to establish a battery supply chain from scratch. Bloomberg New Energy Finance estimates that by 2030, the European continent’s share of global battery production will rise from 7% last year to 31%.

  

  Volkswagen trucks sector seeks to reduce carbon dioxide emissions

  

  The goal of Volkswagen's commercial vehicle division is to close the gap in its carbon dioxide emissions compliance this year. Previously, the company failed to meet its 2020 emission targets, causing its parent company VW Group to be fined by regulators.

  

  Intel CEO will attend the White House Chip Supply Chain Conference

  

  According to people familiar with the matter, Intel CEO Pat Gelsinger will attend a meeting held by the administration of US President Biden on April 12 to discuss the issue of disrupting the semiconductor supply chain of US auto factories.

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