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Karma Automotive’s Global Sales VP Joost de Vries joins Yahoo Finance’s Adam Shapiro, Julie Hyman, Emily McCormick and Rick Newman to discuss the rise of electric cars and their next steps on On The Move.
Nov.19 -- Ford unveils the Mustang Mach-E, a battery-powered crossover designed as an alternative to Tesla models dominating the EV market. The car was revealed Sunday ahead of the Los Angeles Auto Show.
(Bloomberg) -- The National Transportation Safety Board concluded its first investigation of a fatal crash involving an autonomous test vehicle by issuing several recommendations aimed at tightening the limited oversight of companies that test self-driving cars on public roads.Among other things, the board called for developers of autonomous vehicles to be required to assess their safety procedures and not test cars on the road until regulators sign off on the document.“We feel that we’ve identified certain gaps and these gaps need to be filled, especially when we’re out testing vehicles on public roadways,” NTSB Chairman Robert Sumwalt said after a board meeting on the March 2018 crash involving an Uber Technologies Inc. self-driving test vehicle and a pedestrian.The case had been closely watched in the emerging autonomous vehicle industry, which has attracted billions of dollars in investment from companies such as General Motors Co. and Alphabet Inc. in an attempt to transform transportation.“Ultimately, it will be the public that accepts or rejects automated driving systems and the testing of such systems on public roads,” Sumwalt said. “Any company’s crash affects the public confidence. Anybody’s crash is everybody’s crash.”The NTSB detailed a litany of failings by Uber that contributed to the death of Elaine Herzberg, 49, who was hit by an Uber self-driving SUV as she walked her bicycle across a road at night in Tempe, Arizona.Uber halted self-driving car tests after the accident. Information released since then highlighted a series of lapses -- both technological and human -- that the board cited as having contributed to the crash.Uber resumed self-driving testing late last year in Pittsburgh.The “immediate cause” of the crash was the backup safety driver’s failure to monitor the road ahead because she was distracted by her mobile device, the board found. A lax safety program at Uber contributed to the accident, the NTSB found.The National Highway Traffic Safety Administration said it would review the NTSB’s report and recommendations. “While the technology is rapidly developing, it’s important for the public to note that all vehicles on the road today require a fully attentive operator at all times,” the agency said in a statement.In a statement, Uber said it regrets the fatal crash and is committed to improving the safety of its self-driving program, and implementing the NTSB’s recommendations. “Over the last 20 months, we have provided the NTSB with complete access to information about our technology and the developments we have made since the crash,” Nat Beuse, head of safety for Uber’s self-driving car operation, said in a statement. “While we are proud of our progress, we will never lose sight of what brought us here or our responsibility to continue raising the bar on safety.”The Uber vehicle’s radar sensors first observed Herzberg about 5.6 seconds prior to impact before she entered the vehicle’s lane of travel and initially classified her as a vehicle. The self-driving computers changed its classification of her as different types of objects several times and failed to predict that her path would cross the lane of self-driving test SUV, according to the NTSB.The modified Volvo SUV being tested by Uber wasn’t programmed to recognize and respond to pedestrians walking outside of marked crosswalks, nor did the system allow the vehicle to automatically brake before an imminent collision. The responsibility to avoid accidents fell to the lone safety driver monitoring the vehicle’s automation system. Other companies place a second human in the vehicle for added safety.The safety driver was streaming a television show on her phone in the moments before the crash, despite company policy prohibiting drivers from using mobile devices, according to police. The NTSB has also said that Uber’s Advanced Technologies Group that was testing self-driving cars on public streets in Tempe didn’t have a standalone safety division, a formal safety plan, standard operating procedures or a manager focused on preventing accidents.“The inappropriate actions of both the automatic driving system as implemented and the vehicle’s human operator were symptoms of a deeper problem, the ineffective safety culture that existed at the time,” Sumwalt said at the opening of the hearing.Uber made extensive changes to its self-driving system after several reviews of its operation and findings by NTSB investigators. The board pointed out that Uber had been very cooperative with its inquiry. The company told the NTSB that the new software would have been able to correctly identify Herzberg and triggered controlled braking to avoid her more than 4 seconds before the original impact, the NTSB has said.To contact the reporters on this story: Ryan Beene in Washington at firstname.lastname@example.org;Alan Levin in Washington at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, John Harney, Elizabeth WassermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Some on Wall Street are skeptical about the new Tesla Inc. pickup truck — it could be so futuristic that it would leave traditional pickup buyers unhappy with its design.
A basic truth exists for investors looking to extract value from alternative data, said Sequentum CEO Sarah McKenna: they need clean, valuable data feeds to start with. When Tesla Inc (NASDAQ: TSLA) reported third-quarter earnings Oct. 23, the stock was only priced to move about 7% after the print, said Catherine Clay, senior vice president of information solutions at CBOE. “That was a big miss in looking at that type of volatility data,” Clay said.
Ferrero USA is deploying FourKites' predictive supply chain visibility tools to help it better track its shipments throughout its North American supply chain. Ferrero is a confectionery company known for Nutella, Ferrero Rocher, Kinder and Tic Tac among other goods. "We are continually looking for innovative approaches to ensure efficient deliveries and enhance customer satisfaction," said Glenn Lawse, vice president of supply chain for Ferrero USA.
SpaceX and Blue Origin are among five U.S. companies added by NASA to the pool of vendors eligible to bid on moon delivery service, the space agency said Monday. SpaceX, the private space exploration company owned by Tesla Inc (NASDAQ: TSLA) CEO Elon Musk, and Blue Origin, owned by Amazon.com, Inc. (NASDAQ: AMZN) chairman and CEO Jeff Bezos, were joined on the list by Ceres Robotics of Palo Alto, California; Sierra Nevada Corp. of Louisville, Colorado; and Irvine, California-based Tyvak Nano-Satellite Systems Inc.
Tesla's leader is known for making bold — and at times, outrageous — statements online, but one tweet might cost him a lawsuit.
Tesla Inc (NASDAQ: TSLA) is gearing up to unveil what CEO Elon Musk calls its “best product ever” Thursday night in Los Angeles. The electric pickup truck, or cybertruck, as Musk calls it, is claiming related IP rights. Musk has described the futuristic Cybertruck as “Blade-Runner-esque” or like “an armored personnel carrier from the future.” It’s a feature that may not fly among consumers accustomed to traditional Ford Motor Company (NYSE: F) or General Motors Company (NYSE: GM) rides.
Trucks aren’t cars. That much investors already know. But just how Tesla’s “cyberpunk” truck will compete with truck incumbents such as Ford and General Motors is anyone’s guess.
China's Didi Chuxing will trial a premium ride hailing service in Japan offering Tesla, Lexus and Mercedes Benz vehicles, a company representative said. The ride-hailing firm will roll out a "DiDi Premium" trial later this month in some areas in Tokyo in a move to diversify its operations in Japan, the representative told Reuters via a text message on Tuesday.
(Bloomberg) -- The world’s biggest lithium-ion battery is about to get even bigger, with Tesla Inc. set to beef up capacity at the Hornsdale site in South Australia.The system will be expanded by 50% to 150 megawatts, according to an announcement from Neoen SA, the French company that operates the site. The storage site has already saved consumers more than A$50 million ($34 million) in its first year of operation.Since its 2017 installation, the battery has helped to stabilize the grid, avoid outages and lower costs by offsetting the intermittency of renewable power generation. That’s helped blaze a trail for other plants around the world. “The Hornsdale battery is a ground-breaking project that has proven what batteries can do for our electricity system,” said Darren Miller, head of Arena, the government’s renewable energy agency, which is helping to fund the expansion. Affordable utility-scale batteries are seen as the missing link needed to make solar and wind power realistic competitors to fossil fuels. While green sources can be cheaper, they lack the reliability of traditional fuels, making the carbon-intensive energy difficult to jettison, which is necessary to avoid catastrophic impacts from climate change.In the meantime, the storage industry is increasingly important in places like South Australia, which has relatively less access to traditional fossil-fuel sources such as coal and natural gas. While Tesla’s outback battery was never intended to be a cure-all for the state’s power problems, it has provided valuable insights into the potential contributions storage systems offer grids.A raft of big battery projects are in development in Australia as energy planners focus on firming up the country’s expanding wind and solar capacity. Another French company, Total Eren SA, is looking to build a 270 megawatt storage system for its Kiamal solar farm in Victoria, while EPS Energy is looking to tap into the proposed South Ausralia-New South Wales interconnector with a 280 megawatt solar farm and 140 megawatt battery at Robertstown.Neoen has also outlined plans to build a giant renewables complex in South Australia, including battery storage that could dwarf Hornsdale. The Goyder South project will include up to 1,200 megawatts of wind generation, 600 megawatts of solar and 900 megawatts of battery storage, with an initial investment of up to A$1 billion, Neoen said in September.(Updates with government comment in fourth paragraph)To contact the reporter on this story: James Thornhill in Sydney at email@example.comTo contact the editors responsible for this story: Ramsey Al-Rikabi at firstname.lastname@example.org, Rob VerdonckFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tesla’s third-quarter results blew away expectations. For the Tesla bears forecasting another loss-making quarter, the results were a headscratcher. It may not sound like a lot for a company worth $63bn, but this extra income made up 48 per cent of Tesla’s pre-tax profits.
The world’s biggest lithium-ion battery is about to get even bigger after its Australian operators decided to expand in a bid to stablise the nation’s fragile electricity grid. Tesla to expand capacity at its Hornsdale Power Reserve in South Australia by 50 per cent to 150 megawatts.
French power producer Neoen SA said on Tuesday it will expand its Hornsdale Power Reserve in South Australia, the world's largest lithium ion battery, by 50% to help improve stability of the state's power grid. The move comes as energy storage becomes increasingly essential to managing power supply in Australia as coal-fired plants are shut down and alternatives are needed to back up intermittent solar and wind power. The Hornsdale project stemmed from a promise by Tesla's Elon Musk to help keep the lights on in South Australia following a string of blackouts by building a battery within 100 days or giving it to the state for free.
The South Australian government will also support the project with up to A$50 million ($33.95 million) and A$8 million ($5.43 million) in funding through the Clean Energy Finance Corporation (CEFC) and the Australian Renewable Energy Agency (ARENA), the office of The Minister For Energy and Emissions Reduction said in a statement sent to Reuters. The battery project was set up around summertime 2017 in Australia to support the country's shaky power grid which is further stressed by increased demand during the heat.
(Bloomberg) -- Volkswagen AG’s chief executive officer, who’s grown increasingly chummy with Tesla Inc.’s Elon Musk, said the electric-vehicle maker may find Germany a more accommodating place for manufacturing than its home state of California.“What Tesla probably is looking for is the environment, the infrastructure, to build high-quality cars, which is probably much more the case here in Germany than on the West Coast of the United States,” VW CEO Herbert Diess told analysts and investors on a call Monday. Musk announced last week that Tesla will build a vehicle and battery factory on the outskirts of Berlin, plus an engineering and design center within the city limits. While the plant will be the second to assemble Teslas outside the U.S. -- one near Shanghai is on the verge of making cars for sale -- the company’s massive facility in Fremont, California, isn’t going anywhere. Preparations are underway for Model Y crossover production to start next summer.Tesla hasn’t yet said where it will build a new electric pickup that Musk, 48, plans to unveil in Los Angeles later this week.\--With assistance from Christoph Rauwald.To contact the reporter on this story: Craig Trudell in New York at email@example.comTo contact the editors responsible for this story: Craig Trudell at firstname.lastname@example.org, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The future of Ford Motor Company has finally arrived, with the company’s first mass-produced all-electric vehicle debuting in an airport hangar across the street from Tesla headquarters.
In terms of performance and range, Ford's Mustang Mach-E looks fairly competitive with Tesla's upcoming Model Y crossover. But Tesla does have strengths in other areas.
Ford finally lifted the curtain on its Mustang Mach-E, with its first all-electric SUV turning heads on Sunday at the Los Angeles Auto Show press days. And Elon Musk seems to be genuinely happy for the company.