Trade News

Chinese driverless technology startup Guangzhou WeRide Technology Co. has filed confidentially for an initial public offering in the U.S. and is looking to raise as much as $500 million, according to people familiar with the situation.

The Guangzhou-based startup is working with advisers on a potential listing that could take place as early as the first half of this year, the people said, asking not to be identified discussing a private matter.

Chinese companies have only just resumed pursuing U.S. IPOs in recent months, after Didi Global Inc.'s 2021 listing prompted a crackdown by Beijing on companies with sensitive data selling shares abroad. To address the issue, WeRide will outsource data collection to an entity that won't be part of the planned U.S. listing, the people said.

Deliberations are ongoing and details of the IPO including size and timing could change, the people said. A representative for WeRide didn't respond to a request for comment. Read more

A Canadian dealership group entered the U.S. via California in February, then expanded there this month in separate first-quarter transactions.

Ride Automotive Group on Feb. 2 purchased Simi Valley Chrysler-Dodge-Jeep-Ram and Marin Mazda in San Rafael on March 1, VJ Sehdev, executive vice president of Ride Automotive, confirmed to Automotive News.

Sehdev said his group, which has two Kia dealerships in Canada, wanted to grow more.

"We found the opportunity in the States," he said.

Ride Automotive's venture into the U.S. follows several other Canadian dealership groups expanding south of the border. Canada's Alpha Auto Group, for example, added to its U.S. portfolio with the Nov. 22 purchase of a Mercedes-Benz store in California.

Jason Stopnitzky, co-founder of buy-sell firm Performance Brokerage Services in Irvine, Calif., facilitated both transactions for the growing auto retailer, which started in 2019 in Ottawa, Canada.

Stopnit…

Porsche offered glimpses on its future full-electric models -- including a flagship electric crossover positioned above the Cayenne -- as part of its goal of delivering more than 80 percent of its new vehicles as full-electric models in 2030.

The crossover will be designed to offer strong performance and automated driving functions with the typical Porsche flyline, the automaker said in a statement on Monday. It will use Volkswagen Group's SSP Sport platform, which Porsche is developing. 

"We are observing growing profit pools in this segment, in particular in China and the U.S.," CEO Oliver Blume said in the statement.

Porsche's other upcoming full-electric vehicles will be:

An all-electric Macan crossover available to customers in 2024 as the brand's second battery-electric car after the Taycan sedan Full-electric versions of the 718 Boxster and Cayman are planned for the middle of the decade The Cayenne is poised to receive an full-electric …

In her four years leading U.S. marketing for Nissan Motor Co., Allyson Witherspoon drove the brand into lots of new ad territory. 

That includes experimenting with new TikTok features, striking Nissan’s first NIL deal as part of its long-running “Heisman House” campaign, and putting Nissan back in the Super Bowl for the first time in seven years with a 2022 ad that starred actress Brie Larson, whom the brand began using as a spokeswoman earlier in Witherspoon’s tenure. She even came up with the moniker for Nissan’s new electric vehicle. It’s called Ariya, which is the name of Witherspoon’s nine-year-old niece.

Now Witherspoon will have a chance to leave her mark internationally as she takes on the role of corporate vice president, global marketing, brand and merchandising for Nissan, which will give her oversight of the Nissan and Infiniti brands. The promotion, announced on March 8, will bring her back to Japan, where she earlier served as Nissan’s gener…

Pondering what diversity brings to our industry

Last fall, I wrote about Automotive News' ongoing mission to cover diversity, equity and inclusion in the automotive business. This week's issue has stories that are intended to inspire and provoke thought.

■ Vince Bond Jr. tells the story of Daniel Mekuria, who immigrated to the U.S. from Ethiopia during college to realize his business potential. After years of honing his skills in automotive retail — including turning "a good, sleepy dealership into a very, very, very good dealership " — he now owns a piece of one store and has been approved to own another. The Ford store he manages has also embarked on another form of inclusion: Providing opportunities for addicts who need a job and support to stay clean. One convicted felon is now a master service technician and helping the dealership recruit others for potentially life-changing jobs in auto retail.…

Last fall, I wrote about Automotive News' ongoing mission to cover diversity, equity and inclusion in the automotive business. This week's issue has stories that are intended to inspire and provoke thought.

Vince Bond Jr. tells the story of Daniel Mekuria, who immigrated to the U.S. from Ethiopia during college to realize his business potential. After years of honing his skills in automotive retail — including turning "a good, sleepy dealership into a very, very, very good dealership " — he now owns a piece of one store and has been approved to own another. The Ford store he manages has also embarked on another form of inclusion: Providing opportunities for addicts who need a job and support to stay clean. One convicted felon is now a master service technician and helping the dealership recruit others for potentially life-changing jobs in auto retail. I recently spoke with Hyundai Motor America marketing executive Erik Thomas and Eunique Jones Gibson, CEO of Culture Bran…

General Motors Co. is exploring uses for ChatGPT as part of its broader collaboration with Microsoft Corp., a company executive told Reuters.

"ChatGPT is going to be in everything," GM Vice President Scott Miller said in an interview last week.

The chatbot could be used to access information on how to use vehicle features normally found in an owners manual, program functions such as a garage door code or integrate schedules from a calendar, Miller said.

"This shift is not just about one single capability like the evolution of voice commands, but instead means that customers can expect their future vehicles to be far more capable and fresh overall when it comes to emerging technologies," a GM spokesperson said on Friday.

The news was first reported by website Semafor, which said that the American automaker was working on a virtual personal assistant that uses AI models behind ChatGPT.

Earlier this year, Microsoft announced a multi-billion …

Danny Shapiro, vice president of automotive at Nvidia, explains how Nvidia uses digital tools to help design, build and drive cars. He also shares how the company went back to its roots to launch an in-vehicle gaming system.

How do I subscribe?

Apple Podcasts: “Shift: A podcast about mobility” is available on the iTunes Store and through the ‘Podcast’ app pre-installed on all iOS devices. Click here to subscribe.

Spotify: "Shift: A podcast about mobility" can be streamed through Spotify on your desktop, tablet or mobile device. Click here to subscribe.

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No heater. No windshield wipers. No turn signals or brake lights. No GPS.

All are missing from the Ford Explorer "Men's Only Edition." Not because Ford Motor Co. is cutting corners — or thinks men don't use turn signals anyway — but rather to spotlight the many indispensable vehicle features invented by women.

To mark International Women's Day last week and Women's History Month in March, Ford created a satirical ad narrated by actor Bryan Cranston, who does many of the company's commercial voiceovers.

"For the first time ever, we've completely reimagined the automobile," Cranston says in the video. "Introducing the Men's Only Ford Explorer, with no windshield wipers, no heater, no turn signals. Wait, no rearview mirror, no GPS — are you kidding? Ah, it's missing all the parts created by women. Wow, whose great idea was that?"

Ford plans to use its website and social media accounts throughout March to recognize the automotive achievements of fem…

Tire sensors are likely to become smarter and generate more important data for drivers in the coming years as electric vehicles become more prominent, industry executives say.

That's an important safety factor. EVs are generally heavier than gasoline-powered vehicles and generate massive torque, leading to faster tire wear rates, said Yagil Tzur, vice president of product at Israeli tech startup Tactile Mobility.

"EVs have longer service intervals," he said. "They don't get to repair shops as frequently, so no one professional is looking at the tires. That leads to increased risk."

Major tire manufacturers such as Goodyear, Michelin, Continental and Bridgestone are developing advanced sensors and experimenting with products to help tires last longer and to give drivers notice of when they might need to be serviced.

"If you don't personally monitor them, you end up with increased risk of accident and risk of tire blowouts and greater braking dista…