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<!--*/ */ /*-->*/ Nikola's new brand HYLA will supply and distribute hydrogen

Nikola Corp. unveiled HYLA, its new global hydrogen energy brand that will be an umbrella for the zero-emission truck company's production and distribution of hydrogen.

Speaking at a company event Wednesday, CEO Michael Lohscheller also presented the final production version of the Nikola Tre fuel-cell electric vehicle, which will hit the market this year. The truck has an expected range of 500 miles with an estimated fueling time of less than 20 minutes, Lohscheller said.

In order to fuel Nikola's hydrogen fuel-cell electric trucks, the company and partners needed to find a way to develop hydrogen supplies and infrastructure to support the demand, President Carey Mendes said, which is where HYLA comes in.

"We set out to build the world's first Class 8 hydrogen truck; we recognize that that wasn't good enough," Mendes said. "In order for that truck to be success…

What's foremost on the minds of dealers at the NADA Show? The same thing that's been there for at least the past 18 months — inventory.

As days' supply starts to creep up from historically low levels, most of the 26 dealer council leaders Automotive News interviewed for a series of Q&As mentioned some of the consequences of the inventory situation.

Steve Gates, whose Gates Auto Family has three Toyota stores, said in his three decades as an auto dealer, he never thought he could run on inventory as lean as it was last year. "I was absolutely certain," he said, "when this all started, I thought I needed to jump off a bridge because I didn't think that there was any way we could survive with virtually no inventory." Tyler Slade, operating partner at Tim Dahle Nissan Southtowne in suburban Salt Lake City, said valuable lessons have been learned. To overcome tight inventories, he said, "stores advertise inventory and post the Monroney with delivery ETAs on showroo…

American Honda Motor expects to increase its sales volume 25 percent this year over its disappointing 2022 performance, which resulted in under 1 million vehicle sales in the U.S. market and a last place finish among the top U.S. manufacturers.

Honda brand projects it will close 2023 around 1.2 million sales, and Acura is targeting 160,000 units, said Mamadou Diallo, vice president of auto sales for American Honda, during a media briefing earlier this week.

Diallo, who will step into the expanded role of American Honda senior vice president of auto sales when Executive Vice President of national operations Dave Gardner retires at the end of March, called the year just ended “frustrating” and said consecutive challenges prevented production of consistent supply.

The automaker struggled with parts supply issues, Diallo said, which hit both brands’ highest volume cars and trucks. 

Those challenges foiled both Honda and Acura’s opportunity to ca…

The past several years have brought about a period of deep and rapid change within the automotive industry. Once focused on delivering a singular product via one-time purchase, original equipment manufacturers (OEMs) are now at the center of a complex, connected and constantly evolving ecosystem.

In this new network, OEMs serve as the orchestrators, carefully coordinating all members of the value chain and ensuring each party has the data and insights needed to enable efficient operations and create effective and engaging experiences.

Renault and Nissan Motor Co. plan to rejuvenate their two-decades-old cooperation with a range of industrial projects alongside an impending agreement to rebalance capital ties to improve a partnership that has become tense.

The partners are set to work on five projects initially, people familiar with the situation said. One of them involves India, where the companies operate a plant in Chennai making small cars, engines and gearboxes, and another joint work on commercial vehicles, said the people, who asked not to be identified because the plans are not yet public.

The desire to agree on fresh common projects as part of the three-way pact, also including junior partner Mitsubishi Motors, signals the companies see a joint future for the alliance that had to be pieced together again after 2018’s arrest of former leader Carlos Ghosn.

While there is little indication about the potential significance of the planned projects, Renault-Nissan can ill-afford to …

DETROIT — Ford Motor Co. is giving dealers more money and support to expand remote service offerings such as mobile vans, pickup and delivery, the automaker said Thursday.

Rising customer demand for such services, driven largely by the coronavirus pandemic, prompted Ford to enhance its capabilities, according to Todd Rabourn, North America regional customer experience director. He said Ford will offset costs for up to six repair orders per mobile service unit each day and all pickups and deliveries a dealership makes. The payments will be based on a store's warranty labor rates, which vary by market.

Rabourn declined to provide a range of the support dealers will get, citing the different rates. He also said the company would provide training for technicians on how to operate the vans and integrate the services.

"We see this being the growing preference of consumers going forward," Rabourn told Automotive News. "We know customers want convenience, and we…

Hyundai Motor Co. said it will invest 10.5 trillion won ($8.5 billion) in 2023 as it moves to electrify more of its fleet to meet rising consumer demand for cleaner cars.

The money will be spent primarily on research and development and on building a new plant n the U.S., the automaker said.

The 2023 investment compares with a spend of around 8.5 trillion won in 2022.

The company on Thursday increased dividends in an unusual move for the automaker, after operating profit more than doubled in the October-December quarter.

“Favorable foreign-exchange rates and higher sales of value-added cars led the growth for 2022,” Hyundai Executive Vice President Seo Gang-Hyun said on an earnings call.

He added the global chip shortage that has hampered automakers since late 2020 should ease in 2023. The company’s marketing costs may rise as competition intensifies, he said.

Hyundai earlier this month said it aims to sell 4.3 million cars globally…

TOKYO – Toyota Motor Corp. has tapped Koji Sato, the head of Lexus and the Gazoo Racing unit, to be the Japanese automaker’s next president and CEO, as Akio Toyoda, grandson of the company’s founder, steps up to be the company’s new chairman.

The changes take effect April 1.

As part of the shuffle, current Chairman Takeshi Uchiyamada, known as the father of the Prius for his work in developing the popular hybrid vehicle, will step aside as chairman but retain a seat on the board.

The reorganization answers a long-standing question about succession for Toyoda, who took office in 2009 and presided over a tumultuous period of challenges and expansion, including the 2009 financial crisis, a global recall scandal and the 2011 Japan earthquake.

Under Toyod…

Detroit? Nope. Germany? Nein. Elon Musk sees the toughest competition for Tesla in China, home of the company he expects "most likely to be second" in electric vehicles.

China is Tesla Inc.'s second-largest market — accounted for about two-thirds of all electric-vehicle sales globally in 2022 — and the home of Tesla's biggest plant.

It's also a market that has embraced EVs and is replete with rivals competing on style and price, including Xpeng, Nio and BYD Co.

While releasing fourth-quarter earnings on Wednesday, Tesla said the company's latest financial results showed recent deep price cuts were stimulating demand, and that the company is cutting costs with a view to growing through what Musk expects will be a recession this year. 

When asked about Tesla's competition, Musk responded that he respected car companies in China, calling it the most competitive market in the world. Musk did not identify any Chinese automakers by name…

Tesla's deep price cuts earlier this month have boosted demand beyond the automaker's ability to make its cars fast enough, but volume production of the highly anticipated Cybertruck pickup won't come until 2024, CEO Elon Musk said on Wednesday's quarterly earnings call.

"The most common question we've been getting from investors is about demand," Musk said. "I want to put that to concern to rest: thus far in January, we've seen the strongest orders year-to-date ever in our history."

Tesla cut prices mid-January across its entire lineup by up to 20 percent in the U.S. Its most popular vehicle, the Model Y, received a price reduction of $13,000. This week, however, Tesla raised the Model Y price by $500 because demand was so high.

"We're currently seeing orders at almost twice the rate of production," Musk said. "We've actually raised the Model Y price a little bit in response to that."

The Tesla price reductions have also had a secondary effect. …

Self-driving technology company Waymo laid off a "limited" number of employees this week across multiple departments, according to a company spokesperson.

The company did not disclose the number of employees affected. The moves come amid economic headwinds stymying the autonomous vehicle industry in particular and tech sector overall.

Waymo is an independent subsidiary of Alphabet. The layoffs come in addition to 12,000 jobs cut by Google in recent days.

At least two dozen dismissed Waymo employees announced their layoffs on LinkedIn. Their job titles reflected the across-the-board nature of the cuts: perception, systems and software engineers, fleet maintenance professionals, systems integrators and more.

In perhaps signs of the uneven AV business landscape, recruiters and friends pointed the freshly unemployed Waymo veterans to active openings at self-driving tech companies such as Cruise, Gatik, Kodiak Robotics, Motional and Outrider.

Mo…

Tesla Inc. said it expects to grow deliveries at 37 percent this year, sharply lower than previous estimates of growth near 50 percent annually for the foreseeable future.

The automaker, which saw sales increase globally by 40 percent for 2022, slashed prices earlier this month amid expectations of an economic slowdown in the U.S. and greater competition in global markets.

Net profit for the quarter was $3.69 billion, or $1.07 per share, compared with $2.32 billion, or 68 cents per share, a year earlier.

Tesla said in its fourth-quarter shareholder letter that a 50 percent growth rate continues to be its long-term target, but a variety of factors would impact the number year by year.

“In some years we may grow faster and some we may grow slower, depending on a number of factors,” Tesla said, putting global sales at around 1.8 million this year vs. 1.31 million last year.

Tesla shares rose 1 percent to $145.80 in after-hours trading.

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