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United States:
Foley Weekly Automotive Report – August 17, 2021
August 18, 2021
Foley & Lardner
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This report helps automotive suppliers make their legal and operational decisions to address challenges and opportunities.
Important developments
- New car prices have increased 6.4% in the past 12 monthswhich, according to the latest consumer price index, is “the largest twelve-month increase since January 1982”.
- The number of new cars fell to 1.2 million units, representing a 31 days supply
industry-wide in July, according to estimates by Cox Automotive. - Nissan confirmed a two-week production shutdown from August 16 for its Smyrna, Tennessee, plant resulting from a COVID-19 outbreak at a semiconductor factory in Malaysia.
- Faurecia acquires 60% of the German automotive lighting group Hella; the merger is intended to expand its market position in the areas of electromobility and autonomous driving.
- President Biden encourages companies to implement
COVID-19 vaccine requirements equivalent to the updated provisions that apply to federal staff; Tyson Foods and United Airlines are among the companies that recently announced that employees should be vaccinated. - That National Road Safety Administration initiated a formal investigation
Tesla‘S Autopilot
advanced driver assistance system, citing 11 incidents since 2018 where vehicles collided with parked first aid vehicles while the system was activated. - Autonomous and electrified truck developer
entrance plans to open US headquarters in Austin, Texas, at the end of the year and
Bridge stone becomes its exclusive tire supplier for the US market. - Electric vehicles and low-emission technology:
-
- Electric vehicles accounted for 2.5% of US registrations in the first half of the year, according to Experian, as quoted in Automotive News.
- That US Senate passed non-binding change on President Biden’s $ 3.5 trillion budget resolution to ban electric vehicle tax credits for vehicles over $ 40,000 or to buyers with incomes over $ 100,000.
- Automakers, including Toyota and
Honda, disagree with a suggestion, additional
Electric vehicle tax credits for vehicles assembled in U.S. unionized factories, arguing that doing so would limit consumer choice. - Lithium-ion battery manufacturer Contemporary Amperex Technology Co. (CATL) intends to sell $ 9 billion worth of shares to Increase in production capacity in China.
Market trends and regulation
- New car prices rose 1.7% in July, and are up 5.4% over the past three months, according to the latest consumer price index. Used car prices rose by only 0.2% in July, after 10.5% in June; Used car prices have increased 41.7% in the past 12 months.
- More than two dozen US officials said in a letter to the Congress leadership that the non-partisan infrastructure bill passed by the Senate last week Investment requirement for the development of a comprehensive e-car charging network is “well below”.
- China discontinued incoming and outgoing services for the Meishan terminal on his Ningbo Zhoushan Port
due to a COVID-19 case in the workforce; This is the third largest port in the world by container volume. This is the second time this year that China’s “Zero COVID” policy has resulted in port operations being discontinued. - The US Senate confirmed it last week Jennifer Homendy Chairman of the National Transportation Safety Board (NTSB).
- That US Trade Representative’s Office has reached an agreement with the Mexican auto parts manufacturer Tridonex to counter claims made by workers that they are denied basic workers’ rights, marking the settlement of one of the first labor disputes to be filed using the new “quick response” enforcement tools in the US-Mexico-Canada Agreement (USMCA).
OEMs / suppliers
- Volvo stopped production for an indefinite number of days at its facility in Gothenburg, Sweden, because of a “material shortage in connection with the semiconductor problem”.
- Renault will be a joint venture with
Geely Selling Renault brand hybrid vehicles in China, and to explore energy efficient platforms in South Korea. With this, Renault is returning to the Chinese market, which left its main joint venture in China last year. - Toyota Tsusho America Inc., Southern Mobility Products, and SteelSummit holdings will work together on a $ 40 million facility in northern Alabama to supply steel components for automobile manufacturers.
Connected / autonomous vehicles and mobility services
- Air taxi developer Joby aviation started public trading last week following a SPAC deal with Reinvent Technology Partners. Joby’s competitors in the Electric Vertical Takeoff and Landing Market (eVTOL) include Volocopter GmbH and Beta Technologies Inc. as well as Airbus SE, Boeing Co. and Lockheed Martin Corp.
Electric vehicles and low-emission technology
- Blitz electric motors will build fully electric powertrains and will be involved in a multi-year agreement. Offer charging products and services Berkshire Hathaways Forest River Inc. Lightning began public trading earlier this year after merging with a blank check company; The focus is on the electrification of commercial vehicles.
- BMW is perceived as behind many of its competitors in introducing electric vehicles, according to industry experts recently quoted in the New York Times (Abo). The BMW iX is set to be the brand’s first fully electric compact SUV on the US market in 2022.
- Charging point acquired based in Amsterdam Electric fleet manager ViriCiti for 75 million euros (87.9 million US dollars); it is the second acquisition of the EV charging network operator in Europe.
- Lordstown Motors announced in a regulatory filing that production of the Endurance electric pickup towards the end of September 2021, with vehicle validation and regulatory approvals being completed in December 2021 and January 2022. The company found that its production schedule is dependent on adequate funding.
- Bloomberg reports that the manufacturer of electric trucks
Rivian is considering Texas build a $ 5 billion manufacturing facility; The company has not confirmed its plans. - Volkswagen and Tesla hope for reductionIndia’s electric vehicle import taxes to levels close to 25%, from current rates up to 100%.
Created by Julie Dautermann, Competitive Intelligence Analyst
The content of this article is intended to provide general guidance on the subject. Expert advice should be sought regarding your specific circumstances.
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Foley Weekly Automotive Report
Foley & Lardner
This report helps automotive suppliers make their legal and operational decisions to address challenges and opportunities.
Foley Weekly Automotive Report
Foley & Lardner
This report helps automotive suppliers make their legal and operational decisions to address challenges and opportunities. Contact your Foley relationship partner or John R. Trentacosta or Ann Marie Uetz for more information.
Foley Weekly Automotive Report
Foley & Lardner
This report helps automotive suppliers make their legal and operational decisions to address challenges and opportunities. Contact your Foley relationship partner or John R. Trentacosta or Ann Marie Uetz for more information.
The MCS-90 endorsement
Kane Russell Coleman Logan
The MCS-90 certification is a means by which an interstate road transport company can demonstrate compliance with the minimum financial requirements set by federal laws and regulations.
