The established automobile group announced major layoffs, eliminating a large number of R&D positions and reducing costs by 3 billion; FF was sued for rent arrears; BYD Qin PLUS price is rumored to fall below 80,000 yuan | Automobile Morning News
Latest update time：2024-02-18
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FOREIGN NEWS
The first batch of people who drove an electric car home regretted it. Ranked No. 1 in the hot search: Complaining for not driving a gas-powered car for days.
On February 17, the self-driving return trip reached its peak traffic. The topic #first batch of people who drove electric daddy home regretted it #1 on Weibo’s hot search list, triggering discussions among netizens. There are reports that the first batch of people who drove trams back to their hometowns this year already regretted it. On the last day of the Spring Festival holiday, some electric car owners were still stuck on the road, complaining endlessly: "It took the gas truck 6 hours to travel, and the tram didn't arrive for 8 hours. I was anxious about the cold weather and turning on the air conditioner. I also felt anxious when I saw the battery percentage figure." Anxious; I finally got to the service area, queued for an hour, and charged for another hour..."
In this regard, blogger Li Jieling said that driving long distances in electric vehicles is no longer so exciting, mainly because the battery life has improved significantly. In the early years, when I drove a Tesla Model S 60D and a Porsche Taycan back to my hometown, I could only run about 300 kilometers with the accelerator closed. I do have a strong anxiety about battery life, and I charge a lot of times, and I do complain when things go wrong occasionally. (Quick Technology)
Industry News
INDUSTRY NEWS
Faraday Future is sued by its landlord for rent arrears, and in the worst case, it risks losing its Los Angeles headquarters
Recently, Rexford Industries, the landlord of Faraday Future's Los Angeles headquarters, filed a lawsuit against Faraday Future in Los Angeles Superior Court this week, accusing it of defaulting on rent, related maintenance fees, and taxes for January and February. Rexford claimed that Faraday Future owed a total of US$91,787.26 (approximately 661,000 yuan) and demanded that the building be repossessed.
In addition, Faraday Future is also being sued by BXP Realty, the landlord of its San Jose office. It has rented a local office of BXP Realty since 2022. BXP Realty filed a lawsuit in Santa Clara Superior Court on January 31, accusing Faraday Future of not paying rent in December last year, with an outstanding balance of US$127,311.16 (currently approximately 917,000 yuan).
BXP Realty also said that it used Faraday Future's $99,518 security deposit (currently about 717,000 yuan) to settle rent in January and asked the company to pay the balance; however, Faraday Future did not pay the amount. As a result, BXP intends to evict the startup from the property. (
TechCrunch)
Continental, the long-established auto parts giant , cuts costs by RMB 3 billion and lays off employees
Recently, German auto parts manufacturer Continental announced that it would launch a layoff plan in order to strengthen the business competitiveness of the automotive group and improve the R&D efficiency of the automotive department. According to earlier official disclosures, 1,750 R&D positions in the automotive business will be eliminated, while approximately 5,400 administrative management positions will be streamlined and optimized, resulting in a total of approximately 7,150 layoffs, accounting for approximately 3.6% of Continental’s global employees. Official sources said the layoffs will be completed by the end of next year.
It is worth noting that the news of Continental’s layoffs is not surprising. As early as November last year, officials issued an announcement revealing that the automobile group segment was simplifying and adjusting its business and administrative structure, hoping to reduce costs by 400 million euros (approximately RMB 3.087 billion) per year by 2025.
ZF, also an auto parts giant, also previously announced that the relationship between management and employee representatives has become increasingly tense. As a result, the company said it would lay off 16,500 employees globally, while internal staff predicted the actual number of layoffs could be as high as 18,000. ( Fast technology and automobile industry focus)
BYD is exposed to another price war, and it is rumored that the price of BYD Qin PLUS will fall below 80,000 yuan
Recently, car blogger @Sunshaojun09 posted on Weibo that the first shot of the "price war" in the car market will be launched immediately after the year. His "car fans" have now confirmed that BYD Qin (Qin PLUS) and Destroyer (Destroyer 05) will soon be launched. Launched a new configuration "Honor Edition" with an official guide price of 79,800 yuan.
It is reported that in the same period last year, when BYD Qin PLUS DM-i was launched, it launched the "Champion Edition" model with a price of 99,800 yuan. The price of the DM-i model dropped to less than 100,000 yuan for the first time, accelerating the price parity between gasoline and electricity. After multiple rounds of price cuts, the price of Qin PLUS DM-i fell below 90,000 yuan for the first time at the end of last year, to 89,800 yuan. It should be noted that price is only one of BYD's means of competition. Looking towards 2024, BYD will usher in a wave of intelligent upgrades of its models, and will launch more than 10 new intelligent cars within the year. (Aijiwei)
It is reported that the new Ji Krypton 001 will be released on February 27. The new car configuration will be fully upgraded: 800V, dual-chamber air suspension, etc.
According to news on February 17, the new model of Ji Krypton 001 is expected to be released (or listed) on February 27. It is reported that the appearance of the new model will not change much, only the details will be adjusted, but the configuration will undergo a comprehensive upgrade. Sources mentioned that the new car is expected to use 800V high-voltage platform technology and be equipped with Qualcomm Snapdragon 8295 chip, 35.5-inch AR-HUD head-up display and other configurations.
Last month, the “ID photo” of the new Jikrypton 001 appeared on the Ministry of Industry and Information Technology’s declaration list. The lower part of the front bumper of the new Jikrypton 001 has been upgraded to a triangular shape, and lidar and electric tow hooks are optional. The rear of the car is equipped with a duck tail based on the through-type light strip to make it more powerful. The fog light area below is also replaced with a triangular design, and other changes are not much. The length, width and height of the new car are 4977*1999*1545/1533 mm respectively, and the wheelbase is 3005mm. (Bitauto.com)
About 9,000 people responded! Ford threatened again by worker strike
On February 16, local time, about 9,000 workers at Ford Motor's Kentucky plant responded to a strike notice from the United Auto Workers (UAW) to demonstrate over unresolved safety issues. Without an agreement on safety matters, workers will go on strike on February 23.
On September 15, 2023, the UAW announced that union workers at three car companies, General Motors, Ford and Stellantis (Stellantis), had begun a strike, demanding that the car companies increase workers' wages by 46% and improve other welfare measures. On November 20, the UAW announced that employees of the three major U.S. automakers have officially received new contracts. This heralds the official end of the six-week U.S. auto workers' strike. Ford estimates that the new contract will add $850 to $900 to labor costs per vehicle, and that the new labor agreement reached after the U.S. strikes will cost it $9.3 billion over the life of the agreement. (financial)
Ford CEO talks about the impact of the general strike: he will seriously consider where to produce cars in the future
Ford Motor Co. CEO Jim Farley said Thursday that last fall's UAW-led strike changed Ford's relationship with the union to the point that the automaker will "seriously consider" where it builds its vehicles in the future. "Our reliance on the UAW ultimately led to us being the first truck plant to close," Farley said. "Our relationship really changed. It was a watershed moment for the company. Did it have an impact on the business? Yes."
In response to Farley's remarks, UAW union president Sean Fein said Ford should continue to focus on building the best auto industry, rather than competing to lower wages. "Maybe Ford doesn't need to move its factories to find the cheapest labor on earth," he said. "Maybe it needs to recommit itself to American workers and find a CEO who is interested in the future of the American auto industry." (Global Market Report) )
BYD launches car rental platform, looks up to U8, rents 8,334 yuan/day, more expensive than Rolls-Royce
According to news on February 16, BYD looks up to the U8 as a domestic million-dollar luxury car, and demand has been in short supply since its launch. Recently, a car rental platform took the opportunity to launch the U8 car rental service. The official website of Aotu Car Rental shows that a brand-new U8 with a Shanghai license plate is for rent. The vehicle has a mileage of only 16.3km. It is a quasi-new car, but the rent is as high as 8,334 yuan per day. This rental price is quite high, even more expensive than Lamborghini, Bentley, Rolls-Royce and other ultra-luxury cars. For example, the rental price of Rolls-Royce Ghost is 6,422 yuan/day.
It is reported that the guide price of the Rolls-Royce Ghost model on sale starts at 5.03 million yuan, and the BYD U8 is 1.098 million yuan. It is worth mentioning that BYD's U8 is currently limited by production capacity, and new users have to wait several months to pick up their cars. Many owners who have already picked up their cars said that their waiting time is generally more than half a year.
BYD's million-level supercar, U9 revealed to be launched on February 25
According to news on February 17, it was learned from relevant channels that Yang Wang’s pure electric supercar “Zang Wang U9” will be officially launched on February 25. The new car is equipped with Yi Sifang platform technology, and can accelerate from 0-100km/h in 2 seconds, and the price may reach one million yuan.
From the appearance point of view, the U9 adopts the "Gateway of Time and Space" design language. The shape of the headlights is inspired by outer space, and the C-shaped light group is highly recognizable. Looking up, the U9 comes standard with carbon fiber components, and a large carbon fiber fixed spoiler is optional at the rear. In terms of dimensions, the length, width and height of the U9 are 4966/2029/1295 (1338) mm respectively, the wheelbase is 2900mm, the front wheel size is 275/35 R21, and the rear wheel size is 325/30 R21. In addition, there will be more Brake calipers in three colors. (Sohu Auto)
Industry concern
INDUSTRY FOCUS
Musk responded by increasing his Tesla stake to 20.5%
Musk responded to a report that his stake in Tesla increased to 20.5%, suggesting that this was the result of a media misinterpretation. Previously, it was reported that a regulatory filing showed that Musk currently holds 20.5% of Tesla's shares, a significant increase from the 13% he held in May last year.
The report stated that Musk’s holdings include 411.06 million shares of Tesla common stock and options to purchase 303.96 million shares that can be exercised within 60 days from December 31. Electric vehicle analyst Sawyer Merritt shared a screenshot of the report and commented that the media’s interpretation of the document was wrong and Musk’s direct holdings of Tesla shares have not increased. He owns the same amount of Tesla stock as he did a year ago. Musk acknowledged Merritt's statement and responded: "They are not that smart." (Global Market Report)
Ford and GM CEOs talk about competition with Chinese car companies: willing to cooperate with friends to reduce the cost of electric vehicles
According to news on February 16, the CEOs of Ford Motor and General Motors said that as competitors from China enter the European and American markets, the companies will consider reducing the cost of electric vehicle technology through cooperation.
Ford CEO Jim Farley announced at a conference earlier Thursday that Ford will work with other automakers to cut electric vehicle battery costs. Prior to this, he had said in another conference, "If you cannot compete fairly with Chinese opponents on a global scale, then in the next few years, your revenue will face a risk of 20 to 30%."
Marin Gjaja, a senior executive of Ford's electric vehicle division Model e, is worried that Chinese cars will win customers with "extremely aggressive" prices like Japanese and Korean cars in the early years. "They are ahead of us in this (electric vehicle) technology. We'd better prepare now to make a breakthrough in electric vehicles, otherwise our company will have no future." (Comprehensive Reuters, Carscoops)
NIO's ET7 taxi goes online in Germany, operating companies enjoy 30% discount
According to news on February 17, NIO Germany plans to add NIO ET7 to the taxi business. The first model was recently displayed to the public at an industry event in Hamburg. Currently, there are approximately 3,000 taxis on Hamburg's roads, nearly 600 of which are electric vehicles. In the future, Hamburg plans to only allow local zero-emission vehicles to serve as taxis from 2025.
In addition to Hamburg, NIO ET7 taxis have been launched in Berlin, Frankfurt and Munich.
Marius Hayler, General Manager of NIO Germany, said: "With its spacious interior and state-of-the-art technology, the NIO ET7 is ideally suited to provide passengers with a high-quality driving experience. Thanks to our battery replacement system, NIO taxis also Always equipped with a top-notch battery, our battery swap system can be used almost all day without the need for long charging times.” (IT House)
Audi's new chief designer comes from Land Rover: he will adopt a "simple" design concept
It was reported on February 17 that after 10 years at the helm of Audi's design department, Marc Lichte will step down and take on a new role within the company. Starting June 1, Massimo Frascella will be in charge of the design of all new models in the Audi lineup, including upcoming electric vehicles.
It is reported that he started his career at Stile Bertone and subsequently held other positions at Ford Motor Company and Kia. Frascella has held senior roles at Jaguar Land Rover since 2011, most recently as head of design for both brands and is the man behind the Defender, Discovery, Velar and Range Rover. (Understanding Car Emperor)
Musk plans to bring Chinese auto suppliers to Mexico
Recently, according to foreign media reports, Musk is planning to introduce supplier resources from Tesla's Shanghai factory to the vicinity of the new factory in Mexico. Musk has sent invitations to Chinese suppliers to copy the supply chain system of the Shanghai factory. The purpose of Musk's move is to enable the Mexican factory to manufacture lower-cost Tesla cars. At the same time, the supply chain system can also serve Tesla's Texas factory in the United States not far away.
However, Tesla may also face resistance from the U.S. government, the United Auto Workers union and the Canadian auto parts trade organization. Related reports indicate that the United States is seeking to control the flow of products from China through Mexico. (First Electric)
Cruise hardware director of GM's self-driving subsidiary resigns
Carl Jenkins, head of hardware at General Motors' self-driving subsidiary Cruise, said on Thursday he had resigned from the company. This is the latest in a series of executive departures since Cruise suspended its U.S. operations in October. (Global Market Report)
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