Ford has projected a $3B pre-tax loss for its EV business this year as it struggles with the high costs of bringing new electric models to market.
The company aims to invest $30B in EVs by 2025, but the cost of batteries and chips, as well as supply chain disruptions, is drastically affecting its profitability.
Data sharing. The automaker is also switching up how it will provide data moving forward. Ford’s CFO stated that they will no longer break out their quarterly and annual financial results by region, only by business unit (EVs, ICE vehicles, and commercial fleets). If they reformat how the data is reported, maybe it’ll make their losses seem like no big deal. 🤷♂️
GM announced that in January it will end the production of its current generation of the Chevy Camaro (for now).
Bye bye, Bumblebee. The decision was made as a part of the company's broader shift towards electric and autonomous vehicles. The current, sixth generation of Camaros will be the last to be manufactured for the foreseeable future, but GM has not ruled out the possibility of bringing the model back in the future. 🐝
Volkswagen has announced that its upcoming cars will feature and support Android’s auto infotainment systems for the lifetime of the vehicle (which, according to them, is 15 years).
The Google-driven system allows drivers to access a range of services, including maps, music, and voice commands during the best years of their cars’ lives without having to worry about costly OTA updates or subscription-based services.
Though we’d probably tack it onto our already embarrassingly long list of subscriptions if we had to, we’re really glad we don’t have to. 🙏