The Torquest - Your Daily Auto Fix
Rachit Vats
Clean energy transition, Electric Vehicles, Automotive, Batteries, Geopolitics.
1. "Respect". Ford boss’ one-word tweet response to Tesla’s Musk
Legacy automaker #FordMotor Co’s Chief Executive Officer Jim Farley on Friday had a one-word response to #Tesla Inc’s Elon Musk’s veiled jab aimed at #GeneralMotors Co in which he referenced to over a decade ago when as Chrysler it declared bankruptcy as part of a government rescue of the U.S. automotive industry. Ford had then avoided a similar fate by taking out billions of dollars in loans.
The brief interaction between the two CEOs comes in the backdrop of an ongoing tug-of-war for their respective electric vehicles. A Morgan Stanley Autos & Shared Mobility research report for February said Ford's Mustang Mach-E is eating into Tesla's U.S. sales. Tesla still managed to outsell its competition by a large margin but its electric vehicle market shrunk from 81% in February 2020 to 69% in February 2021 largely due to Mach-E, the report said.
BONUS: Tesla Vs Ford tug-of-wars are not new though. Remember this?
2. Now Tesla to plug a battery big enough to power about 20,000 homes in peak summer: Bloomberg
Gambit Energy Storage LLC, which is registered as a Tesla Inc unit, is building an over 100-megawatt energy storage project in Angleton, Texas, Bloomberg News reported on Monday.
3. Aston Martin to make electric models in the United Kingdom: FT
Aston Martin will build its electric models in the UK from 2025 which will include a battery sports car and a sport utility vehicle to be made at Aston plants in Gaydon in the Midlands and St Athan in Wales instead of its partner Mercedes-Benz, which owns 20% of the company and may provide batteries.
https://www.ft.com/content/6127125e-fbe5-4900-bd8d-54cc01d8922b
Ferrari has committed to making battery models by 2030, while McLaren and Volkswagen-owned Lamborghini have not set timelines. Bentley, also owned by VW, is planning a battery car for the middle of the decade.
4. Just in time? Bosch microchip plant enters key testing phase
German semiconductor factory to start production this year amid global shortage. Robert Bosch is currently carrying critical testing at its new semiconductor plant in Dresden, Germany, as the automotive industry struggles with a shortage of essential chips that has led to widespread production halts. The $1.2 billion factory is expected to start production at the end of 2021, with a main focus on automotive microchips, Automotive News reports.