"There is no doubt in my mind that once range increases, prices drop and a fast-charging infrastructure is in place, customers will prefer electric powertrains against combustion engines", Porsche Cars North America CEO Klaus Zellmer said at the Automotive News World Congress conference on Wednesday. Ford kicked off this week's Detroit auto show by pledging to invest $11 billion to bring 40 electrified vehicles to market by 2022.
GM Chief Executive Mary Barra has led a dramatic overhaul of the No. 1 USA automaker, selling its unprofitable European operations, exiting troubled Asian markets, and giving the green light to investments in self-driving vehicles and an expanded portfolio of electric vehicles. Prior to the financial crisis, its passenger-car lineup wasn't as strong as its traditionally hot-selling pickups and its SUVs.
Automakers from around the planet have been revealing a series of new electric models inspired by China's transition to a clean energy economy, and in that sense Ford is just following where other giants such as VW, Toyota and PSA have already been in recent weeks. Ford's F-150, the best selling auto in the USA in 2017, had an average transaction price of United States dollars 58,000.
Instead, the annual Motor City gathering was dominated by revamps of tried-and-true models, especially pickups and SUVs that have been the foundation of USA vehicle sales in recent years. General Motors does not plan to pay bonuses related to the tax reform.
"Part of it is about tougher regulation but also the expectation that electric vehicles will support autonomous driving".
Looking ahead to what may happen in the graphite market this year, Benchmark Mineral Intelligence senior analyst Andrew Miller recently said that "the developments in anode production capacity and the balance between natural spherical and synthetic graphite will be key for the market throughout 2018". Further out still is an economy built on autonomous vehicles.
For previous year, Ford said adjusted earnings would be US$1.78 per share, below analysts' estimate of US$1.83, according to Thomson Reuters I/B/E/S. The AV plan includes building out a purpose-built vehicle, the self-driving technology and the operational infrastructure in parallel to help it scale quickly as it enters production in 2021. The larger question for the industry is whether other automakers will now follow Ford.
Ford will change how it reports its finances in 2018, separating its new mobility investments, which Ford expects to incur losses in the near future.
Consumer protection bureau requests 'zero' budget
The bureau has provided Americans with billions of dollars in refunds and debt relief, often at banks' expense. On Tuesday, progressive organizations denounced Mulvaney as a friend of loansharks and banking conglomerates.