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Runtime: 11:51
0:08 GM Posts Solid Q1 Earnings
0:54 Stellantis Now Number One in EU Market Share
1:38 Tesla Loses Stellantis’ EU EV Credit Revenue
2:16 Mahle Develops Magnet Free Electric Motor
3:53 Ford Reveals North American E-Transit Details
4:57 Ford Explorer Now More Off-Road Capable
6:04 Skoda Unveils New Fabia
7:48 Mercedes Expands EQA Lineup with AWD Versions
8:40 Nissan Sells Entire Stake in Daimler To Fund EV Efforts
8:58 Porsche & Penske Partner to Race LMDh Prototypes
10:07 Argo AI Develops Lidar Breakthrough
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GM POSTS SOLID Q1 EARNINGS
General Motors posted solid Q1 earnings. It sold over 1.7 million vehicles worldwide, which brought in over $32 billion in revenue. Net income was $3 billion. That includes a $1.2 billion EBIT profit from GM Financial, which is growing into a significant part of its business. Remember, GM had to sell off GMAC leading up to its 2009 bankruptcy. Now it’s rebuilding the lucrative lending business to dealers and customers. GM also reiterated its goal to sell 1 million electric vehicles a year globally by 2025, and it also threw down the gauntlet. Its goal is to be #1 in EV market share in North America.
| GM Q1, 2021 Earnings | |
|---|---|
| Sales | 1,744,000 |
| Revenue | $32.4 billion |
| Net Profit | $3 billion |
| Source: General Motors | |
STELLANTIS NOW NUMBER ONE IN EU MARKET SHARE
Stellantis reported preliminary financial results for the first quarter and the numbers show just how big this company is. By combining Peugeot, Fiat, Chrysler and Opel together, the new company sold over 1.5 million vehicles, and brought in €37 billion in revenue. That would make it the 5th largest automaker in the world behind Toyota, Volkswagen, Renault-Nissan-Mitsubishi and GM. Stellantis is now the largest automaker in Europe with over 23% market share, surpassing Volkswagen and it’s also the largest in South America, with more than 22% of the market.
| Stallantis Q1, 2021 Earnings | |
|---|---|
| Sales | 1.567 million |
| Revenue | €37 billion |
| Source: Stellantis | |
TESLA LOSES STELLANTIS’ EU EV CREDIT REVENUE
This combination of companies under the Stellantis umbrella is going to rob Tesla of a significant source of revenue. The old Fiat-Chrysler agreed to pay Tesla $2.2 billion over a three-year period for CO2 and EV credits. But now, at least in Europe, Stellantis doesn’t need those credits thanks to Peugeot’s electrification efforts. Bloomberg reports that without those credits Tesla would have reported losses for the last several quarters. But Stellantis will still be buying credits from Tesla in the U.S. market, at least for now.
MAHLE DEVELOPS MAGNET FREE ELECTRIC MOTOR
Automakers worry about the environmental impact of mining of rare earth materials that are used in electric motors. They also worry about long-term access to those materials that mainly come from China. So Mahle developed a magnet-free motor that doesn’t use rare earths. While Mahle is not the first to make magnet-free motors, it says its motor has 95% efficiency at almost all operating ranges, something that’s only been achieved so far with Formula E race cars. It’s a scalable motor with 400 and 800 voltage ranges and can be used in everything from subcompact cars to commercial trucks.
FORD REVEALS NORTH AMERICAN E-TRANSIT DETAILS
Ford shared some details about the electric version of the Transit for the American market. Pricing ranges from $43,300 for the cutaway up to $52,700 for the high-roof extended-wheelbase cargo van. The company just opened a registration site where hand-raisers can submit their interest before Ford starts taking orders in July. The automaker says that more than 450 commercial customers in North America have already expressed interest in purchasing the E-Transit. And this summer it will launch a pilot program to allow early production versions to be tested in the real-world by select customers. The van is equipped with a battery pack with 67 kWh of usable capacity, which provides an estimated 126 miles of range in a low-roof model. The E-Transit will be available later this year and will be built alongside the regular Transit at Ford’s Kansas City Assembly Plant.
FORD EXPLORER NOW MORE OFF-ROAD CAPABLE
Speaking of Ford, Explorer customers will be able to do a lot more exploring with the new Timberline trim line. It comes standard with Ford’s 2.3L EcoBoost engine that’s mated to a 10-speed automatic as well as 4-wheel drive and a Terrain Management System, which features seven drive modes. But there’s also new additions like a limited slip rear differential, steel skid plates, heavy-duty shocks that were originally designed for the Police Explorer and add 0.8-inches of ride height and 265/65R18 Bridgestone tires. The Steering calibration, stabilizer bars and springs are specially tuned as well. Unique front and rear fascias and a number of interior upgrades round out the main features of the Timberline Explorer. It’s available to order now and arrives at dealers this summer. And this is just the first. Expect to see more Ford Timberline SUVs.
SKODA UNVEILS NEW FABIA
Skoda revealed the 4th-generation of its popular small car, the Fabia, which now rides on parent company Volkswagen’s MQB platform. It’s longer, wider and not as tall as the outgoing model, but styling is still pretty similar. It just looks like main design details were softened up a bit. The grille is pushed out, which smooths out the edges and the character lines down the side don’t seem as pronounced as before. Since the Fabia now rides on the MQB platform it will have access to VW’s EVO family of engines. There’s five to choose from in all, which range in power output from roughly 65 horsepower up to about 150 horsepower. There’s also a number of transmissions, including a 5-speed manual, 6-speed manual and 7-speed automatic. The interior is pretty standard with the option for digital display screens, but we also like how the layered dash seems to cradle the center screen as well as the large hoops used as door handles. Click the link in the transcript or description box if you’d like to learn more.
MERCEDES EXPANDS EQA LINEUP WITH AWD VERSIONS
Mercedes is now launching all-wheel drive versions of the EQA. There’s two power outputs available; 168 kW and 215 kW. They’re both fitted with a 66.5 kWh battery pack, which is said to return between 400 and 432 kilometers or roughly 248 to 268 miles of range based on the WLTP test cycle. The models can be ordered right now in Europe and prices start at 53,500 euros, which is 5,000 euros more than FWD models. Mercedes has not confirmed if the EQA will come to North America, but we suspect it will to get more volume. It says it will also launch a longer-range version later this year.
NISSAN SELLS ENTIRE STAKE IN DAIMLER TO FUND EV EFFORTS
Switching over to Mercedes’ parent company, Nissan says it’s selling its entire 1.54% stake in Daimler. It expects to net nearly 1.15 billion euro in the stock sale, which it says it will use towards its electrification efforts.
PORSCHE & PENSKE PARTNER TO RACE LMDh PROTOTYPES
Late last year, Porsche announced plans to develop a new prototype race car to compete in IMSA and the WEC in the new Le Mans Daytona hybrid category or LMDh for short. The car, which is based on an LMP2 chassis, weighs about 1,000 kilograms or about 2,220 pounds and is powered by a hybrid powertrain that cranks out around 680 horsepower. And now the automaker is partnering with Team Penske to race the prototype. Beginning in 2023, Porsche Penske Motorsport will race two prototypes in both series. The companies didn’t reveal how long the partnership will last but did say the contract “will run for a number of years.” This isn’t the first-time Porsche and Penske have teamed up in racing. From 2006 to 2008, Team Penske won all three titles in the LMP2 category with an RS Spyder. And in the 1970’s, Penske raced a 917/30 in the Can-Am series.
ARGO AI DEVELOPS LIDAR BREAKTHROUGH
Argo AI, the self-driving startup backed by Ford and Volkswagen, says its developed a breakthrough in Lidar technology, to take another step forward in the commercialization of autonomous delivery and ride-hailing services. It created a new sensor that’s able to detect objects up to 400 meters down the road or more than 1,300 feet away. As you can see in this video, it’s able to create a fairly realistic 3D image of the vehicle’s surroundings, which helps it perform more complex tasks. Thanks to the new sensor, Argo says its vehicles can operate safely day or night and on city streets or at highway speeds. Argo is currently using the new Lidar in its test vehicles and it will be equipped in the vehicles Ford and VW will use for their autonomous services.
But there’s a debate in the auto industry about if you need Lidar for autonomous cars or not. And that’s going to be the topic on Autoline After Hours tomorrow. Our guest will be Mircea Gradu, the Senior Vice President of Product and Quality at Velodyne. Some of you may know him from his days at Fiat Chrysler and Hyundai. So join John and Gary as they tackle some of the most debatable topics in the auto industry.
But that’s it for today, thanks for watching.
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John McElroy is an influential thought leader in the automotive industry. He is a journalist, lecturer, commentator and entrepreneur. He created “Autoline Daily,” the first industry webcast of industry news and analysis.
