Volkswagen hit its 2022 forecast with an 8.1% earnings margin. Sales and earnings increased over 2021, but net cash dropped from 8.6B to 5B euros. We guess sometimes spending money to make money is more spending than making.
Toyota heard the affordability war has people paying record-high prices for new vehicles and decided to make bigger, more expensive vehicles to help. The Grand Highlander is a crossover with three engine options, two of which are hybrids. Already a leader in the three-row crossover segment, the Grand Highlander is longer and wider than its midsize Highlander sister.
Tesla's former Head of AI, Andrej Karpathy, announced that he will join the team at OpenAI, a startup co-founded by Elon Musk. OpenAI, now famous for ChatGPT, was originally a non-profit co-founded by Musk, who left the board in 2018 due to potential conflicts with Tesla's AI efforts. Karpathy joined Tesla's team over five years ago and played a crucial role in developing machine learning and computer vision systems. He left Tesla in July 2022 to focus on his "long-term passions around technical work in AI, open source, and education," garnering lots of praise from fellow tech bros.