02 Mar 2022 | Ford Splits Company To Focus On EVs

Episode 1391,   Mar 02, 2022, 05:00 PM

On the podcast today:
• Hyundai Motor plans 17 EVs, $16B investment by 2030
• Russian motorway's electric vehicle chargers are hacked to display message supporting Ukraine
• 6,160 BEVs were sold in Norway in February
• Ford to create EV company within automaker, CEO Farley says
• Jeep teases small electric crossover ahead of early 2023 launch
• Experience the BMW i4 and iX through Augmented Reality
• Ford Splits Into Electric and Gas Divisions to Speed Up Transition
• Ford to use Model e name Tesla wanted in trademark fight
• WeLion starts construction of 100 GWh project
• Kia will let you summon an actual human to charge your EV
• Tesla Model S and Model X steering yoke to receive push center for horn update
• Tesla Model Y Arrives in Ireland, First Deliveries Coming Soon
• Segway GT2 electric scooter unveiled with two motors and 43 MPH speed
• Bird Brings State-of-the-Art e-Bike to the UK

Show #1391

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HYUNDAI MOTOR PLANS 17 EVS, $16B INVESTMENT BY 2030

- Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. It also said it plans to introduce 17 EVs in that timeframe, six from Genesis and 11 from the Hyundai brand.

- three of those EVs would be sedans, along with six SUVs, a light commercial vehicle and one new type of model. It will begin sales of the Ioniq 6 later this year, followed by the Ioniq 7 in 2024.

- 7% market share in the global EV market by 2030, with an annual sales target of 1.87 million vehicles

- "Hyundai is allocating about 20% of its 95.5 trillion won investment to EV related businesses, which includes building new plants, EV charging stations and strategic alliances with battery manufacturers and the investment amount for EV does not seem too surprising or aggressive," said Eugene Investment & Securities analyst Lee Jae-il.


RUSSIAN MOTORWAY'S ELECTRIC VEHICLE CHARGERS ARE HACKED TO DISPLAY MESSAGE SUPPORTING UKRAINE

- Russian electric vehicle charging points have been hacked today to display messages supporting Ukraine, including 'Putin is a di**head'.

- As a result of the hack, the stations - found along Russia's M-11 motorway that runs between its capital Moscow and cultural centre Saint Petersburg - were deactivated.

- According to a Facebook Post by Russian energy company Rosseti, the charging points were hacked by the Ukrainian company that provided some of the parts for them, and left a backdoor in their systems.

- These included 'GLORY TO UKRAINE, 'GLORY TO THE HEROES', 'PUTIN IS A DI**HEAD' and 'DEATH TO THE ENEMY'.

- The Facebook post said the charging points were purchased through a Russian company which outsourced the production of some of their parts to the Ukrainian electric vehicle charging company, based in Kharkiv.

- The company added that it was working to isolate the hack, and said that the charging points would be re-activated soon.


6,160 BEVS WERE SOLD IN NORWAY IN FEBRUARY

- In Norway, 6,160 electric passenger cars were newly registered in February, which corresponds to a share of 75.6 per cent of all passenger car registrations in the month. The most successful model in February in Norway was the Hyundai Ioniq 5 with 454 new registrations.

- In addition, there were 852 new plug-in hybrids, which alone account for a market share of 10.5 per cent. If BEVs and PHEVs are added together, 86.1 per cent of all new registrations in Norway in February had a charging connection.

- In terms of models, as mentioned, the Hyundai Ioniq 5 was in the lead – with 454 new registrations according to OFV statistics or 455 according to data from the portal EU-EVs. The expensive BMW iX follows in second place with 425 new registrations.

- Third place is a close-run thing, or rather it depends on how you look at it. In the OFV statistics, the Audi Q4 e-tron and its Sportback offshoot are counted as one model, with 388 new registrations. That would be only one vehicle more than the Polestar 2, which is in the statistics with 387 registrations.


FORD TO CREATE EV COMPANY WITHIN AUTOMAKER, CEO FARLEY SAYS

- Each division will have its own leadership, with the traditional vehicle skill team led by Kumar Galhotra, who has been Ford president of the Americas and International Markets Group. The newly created all-electric vehicle (EV) skill team will be led by Farley

- Farley will serve as president of Ford Model e, in addition to his role as CEO and president of Ford. Doug Field, Ford chief advanced technology and embedded systems officer with extensive experience at Apple and Tesla, will lead product creation as chief EV and digital systems officer for Ford Model e and also lead development of software and embedded systems for all of Ford.

- To illustrate the company's strength, Ford will also begin tracking profit and loss (P&L) financial statements separately for Ford Pro, Ford Blue and Ford Model e. The statements will summarize the revenue and expenses for each entity.

- "We’re committing to the dealer model," Farley said, which is not how Tesla operates.

- "We’re not keeping dealers in the mix 'for the moment.' We are betting on dealers for the long term," he told the Free Press. "I want to make that really clear. I’m not mincing words. We will have new standards and a new experience. But we learned a lot by watching Tesla."


FORD TO USE MODEL E NAME TESLA WANTED IN TRADEMARK FIGHT

- Over the years, Ford has sued to keep other companies from using the Model E moniker because it sounds too much like the Model T, the car for which company founder Henry Ford is known to have built as the first affordable vehicle for the masses starting in 1908.

- "'Ford and Tesla entered into a contract in 2010 in which, among other things, Tesla agreed not to register or use Model E. When Tesla later sought to register the Model E trademark, Ford insisted that Tesla abide by the parties' earlier agreement. The matter has been resolved amicably,'" a Ford spokesperson told CNNMoney in 2014.

- "Choosing the name is very intentional. We keep telling people this is the biggest transformation of the company since the scaling of the Model T," Farley told the Free Press."We knew that Model e was going to be important at Ford Motor Company," he said. "Did we know it was going to be for this announcement, three or four years ago? Absolutely not. We protected it for a darn good reason."


FORD SPLITS INTO ELECTRIC AND GAS DIVISIONS TO SPEED UP TRANSITION

- Ford Motor has decided the best way to make the transition to electric vehicles is to transform itself first.

- the automaker said it had reorganized its auto operations into two distinct businesses — one that makes its gasoline-powered vehicles and focuses on maximizing profits and another that develops and ramps up production of electric models and aims for rapid growth.

- Ford’s chief executive, Jim Farley, said in an interview that the two businesses required different skills and mind-sets that would clash and hinder each area if they remained parts of one organization.

- Mr. Farley said Ford would spend $50 billion on electric vehicles between 2022 and 2026. It previously planned to spend $30 billion in the five years ending in 2025. It plans to spend $5 billion on E.V.s this year, double the 2021 total.

- Ford’s reorganization is one of the most sweeping taken by a traditional automaker in preparation for the transition to electric vehicles. Mr. Farley said the plan had come together after he and other top Ford executives noticed stark differences in the two business areas.

- In making gas-powered vehicles, Ford must focus on reducing costs and generating the profits it needs to fund its E.V. plans. Over the next four years

- The electric business, in contrast, will have to spend heavily to develop software and technologies and to ramp up production quickly to achieve economies of scale. Ford aims to produce two million electric vehicles a year by 2026.


FORD MODEL E: DIRECT-TO-CONSUMER EV SALES COMING TO FORD


JEEP TEASES SMALL ELECTRIC CROSSOVER AHEAD OF EARLY 2023 LAUNCH


EXPERIENCE THE BMW I4 AND IX THROUGH AUGMENTED REALITY
 

WELION STARTS CONSTRUCTION OF 100 GWH PROJECT

KIA WILL LET YOU SUMMON AN ACTUAL HUMAN TO CHARGE YOUR EV
 

TESLA MODEL S AND MODEL X STEERING YOKE TO RECEIVE PUSH CENTER FOR HORN UPDATE

TESLA MODEL Y ARRIVES IN IRELAND, FIRST DELIVERIES COMING SOON


SEGWAY GT2 ELECTRIC SCOOTER UNVEILED WITH TWO MOTORS AND 43 MPH SPEED


BIRD BRINGS STATE-OF-THE-ART E-BIKE TO THE UK
 

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