Tesla隱藏式 門把手要涼了？ 中國直接 下了狠手！ 2027年 1月1日起 中國全面禁掉 這種超帥的 電子隱藏把手 所有新車 內外門把都 必須有機械 緊急開啟功能！ 為什麼這麼嚴？ 因為其他車 真的出過事！ 斷電或撞車時 電子把手失效 乘客被困車內 甚至丟了命 多起事故讓 MIIT忍無可忍 這不是針對 Tesla一家 全EV產業 都中槍 本土品牌 也在用類似設計 全都要改！ Tesla已經表態 正在重新設計 Model 3和Y 可能會增加 機械備份 保持帥氣外觀 但更可靠 中國這波操作 說不定就會讓 全球跟進. ...

Core Insights - Stellantis is undergoing a strategic reset to align its business with customer preferences, focusing on a diverse range of vehicles including EVs, hybrids, and advanced internal combustion engines [2][4] - The company reported preliminary financial results for H2 2025, showing improved net revenues and industrial free cash flow, despite a net loss due to specific charges [10][13] Business Strategy and Changes - The reset involves a thorough assessment of the company's strategy and costs to better meet customer needs, with a new strategic plan to be communicated in May 2026 [2][4] - Key actions taken include re-empowering regional teams for decision-making, creating a cost-efficient supply chain, and reallocating capital to support electrified vehicle programs [6][10] Financial Performance - H2 2025 consolidated shipment volume reached 2.8 million units, an increase of 277 thousand units or 11% year-over-year, with North America showing the strongest growth at 39% [7][30] - Preliminary net revenues for H2 2025 are estimated between €78 billion and €80 billion, with a net loss projected between €19 billion and €21 billion [14] Market Position - Stellantis maintained a 7.9% market share in the U.S. for H2 2025, a 60 basis point increase sequentially, and retained its 2 market share position in Enlarged Europe [8] - Customer order intake in Enlarged Europe increased by 13% year-over-year in H2 2025, with Q4 orders up 23% year-over-year [8] Quality Improvements - The company has seen a significant reduction in vehicle issues reported in the first month of service, with a decrease of over 50% in North America and over 30% in Enlarged Europe since early 2025 [9] Charges and Financial Adjustments - The reset resulted in charges of approximately €22.2 billion for H2 2025, including €14.7 billion related to realigning product plans with customer preferences and new emission regulations [10][12] - The company will not pay a dividend in 2026 due to the net loss in 2025 and has authorized the issuance of up to €5 billion in non-convertible subordinated perpetual hybrid bonds [15][16] Future Guidance - Stellantis anticipates improvements in net revenues, adjusted operating income margin, and industrial free cash flows in 2026, with a mid-single-digit percentage increase in net revenues projected [17][19] - The company expects to achieve positive industrial free cash flow in 2027, despite ongoing regulatory uncertainties [18][19]

Trump’s critical mineral reserve is an admission that the future is electric https://t.co/sDKEfwR320 ...

Core Insights - The session focuses on managing transformation in the auto industry, particularly in the context of electric vehicle (EV) transition and financial stewardship [1][2][3] Company Overview - Paul Jacobson, CFO of General Motors (GM), has been with the company since 2020 and is recognized for his leadership during significant industry challenges [2] - Under Jacobson's guidance, GM has achieved strong financial results in 2025, showcasing robust earnings and a positive outlook [3] Industry Context - The auto industry is currently navigating post-pandemic supply chain disruptions and a complex policy environment, which includes tariffs and regulations affecting EV profitability [3] - The discussion will include insights on GM's strategic pathway to achieving profitability in the EV sector [3]

General Motors Company (NYSE: GM) Conference Summary Company Overview - **Company**: General Motors Company (GM) - **Date of Conference**: February 04, 2026 - **Key Speaker**: Paul Jacobson, CFO of GM Core Industry Insights - **Transformation in the Auto Industry**: The auto industry is undergoing significant transformation, particularly in the shift towards electric vehicles (EVs) and adapting to a dynamic regulatory environment [2][4][15] - **Impact of Tariffs**: GM has faced over $3 billion in tariffs last year and expects $3-$4 billion in tariffs this year, which has influenced financial guidance and operational strategies [5][6] - **Market Share Gains**: GM has achieved substantial market share gains in lower-priced vehicles, selling over 700,000 vehicles priced under $30,000, indicating a successful strategy across different market segments [9][10] Financial Performance - **Earnings and Margins**: GM restored its North American margins to 8%-10% ahead of expectations, demonstrating resilience and effective management despite external challenges [6][12] - **Free Cash Flow**: GM has increased its free cash flow from approximately $3 billion to a consistent $10 billion over the past 4-5 years, providing a financial cushion to absorb shocks [12][13] - **Balance Sheet Strength**: The company boasts a strong balance sheet with minimal pension liabilities and an investment-grade credit rating, positioning it well for future investments [13] Electric Vehicle Strategy - **Investment in EVs**: GM announced a $7 billion charge related to EV investments, indicating a commitment to infrastructure capable of producing 1 million EVs annually [16][18] - **Regulatory Environment**: Changes in the regulatory landscape are expected to align better with consumer demand, potentially leading to more stable EV adoption rates [17][15] - **Onshoring Investments**: GM plans to invest $5 billion in onshoring initiatives, aiming to produce nearly 2 million vehicles in the U.S. by 2027, which will help mitigate tariff impacts [18][24] Supply Chain Management - **Resiliency Focus**: GM has prioritized supply chain resiliency, particularly in light of past challenges such as the chip shortage and rare earth material dependencies [41][45] - **Supplier Relationships**: The company emphasizes healthy collaboration with suppliers to ensure stability and profitability across the supply chain [26][27] Future Outlook - **Software and Services Growth**: GM is focusing on expanding its software and services revenue, targeting $7.5 billion in deferred revenue, and enhancing customer interactions through technology [20][62] - **Market Positioning**: GM aims to maintain competitiveness in a changing market landscape, particularly against emerging Chinese brands and evolving consumer preferences [72][74] - **Long-term EV Commitment**: Despite current challenges, GM remains committed to the EV market, viewing it as a long-term growth opportunity, while also ensuring profitability through cost management and technological advancements [55][56] Additional Considerations - **Hybrid Vehicles**: GM is exploring opportunities in hybrid vehicles, leveraging existing expertise while ensuring a measured approach to market entry [58][59] - **AI Integration**: The use of AI in vehicle development and production processes is growing, enhancing efficiency and decision-making capabilities within the company [75][76] This summary encapsulates the key points discussed during the conference, highlighting GM's strategic direction, financial health, and industry positioning amidst ongoing transformations in the automotive sector.

Group 1 - VinFast plans to deliver 86,557 electric vehicles globally by Q4 2025 [1] - The company aims to expand its market presence and compete in the global electric vehicle sector [1] - VinFast's strategy includes increasing production capacity and enhancing its product lineup [1] Group 2 - The electric vehicle market is experiencing significant growth, with increasing consumer demand and government incentives [1] - VinFast's entry into the global market aligns with the industry's shift towards sustainable transportation solutions [1] - The company is positioning itself to capitalize on the growing trend of electrification in the automotive industry [1]

Core Insights - Rivian is facing challenges including the end of federal support for EVs, increased hybrid vehicle sales, and significant cash burn rates, but the CEO emphasizes that the situation is more complex than it appears [1] Vehicle Performance and Features - The R1 model is the best-selling premium electric SUV in the U.S. and has also been a top seller in California, with the R1S starting at nearly $80,000 [2] - The upcoming R2 model is designed to be a more affordable option, targeting the midsize, mid-price SUV EV market, with a starting price of $45,000 [9] - The R2 features a familiar design language, five seats, and is described as agile and capable of off-road driving, though not as extreme as the R1 [3][4][6] Cost Structure and Manufacturing - Rivian has significantly reduced the number of computing units in its vehicles from over 60 in traditional cars to seven in the R2, which has also led to a reduction in wiring length by 2 miles [7] - The company has achieved a dramatic reduction in the cost structure, enabling a ramp-up in production volume while maintaining a focus on quality and customer satisfaction [8][9] Market Outlook and Financials - Analysts are divided on Rivian's ability to compete with Tesla, with expectations of selling around 15,000 R2 units in 2026, although some believe this number could be exceeded [10] - Rivian burned through $3 billion in cash in the first three quarters of 2025, with projections of burning $5 billion in 2026, but has secured a $5 billion deal with Volkswagen that could bring in an additional $2 billion [11][12] - The company aims to capture significant market share with the R2, similar to the R1, which could lead to production challenges if demand exceeds supply [13]

Financial Data and Key Metrics Changes - Adjusted earnings per share (EPS) for the first quarter was $1.53, which is 13% lower than the same quarter last year [19] - Operating cash flow was strong at $126 million, with discretionary free cash flow of $71 million [19] - The company ended the quarter with a cash balance of $230 million and a liquidity position of approximately $1.4 billion [20] - Capital expenditures for the first quarter were $69 million, with expectations for fiscal 2026 to be between $200 million and $230 million [20] - The debt balance was $1.1 billion, with a net debt to EBITDA ratio of 1.2 times [21] Business Segment Data and Key Metrics Changes - EBIT in the Reinforcement Materials segment declined by 22% compared to the first quarter of fiscal 2025, primarily due to lower volumes in the Americas and Asia Pacific [4][19] - EBIT in the Performance Chemicals segment increased by 7% compared to the first quarter of fiscal 2025, driven by a favorable product mix and momentum in battery materials [4][19] - In Reinforcement Materials, volumes decreased by 7% year-over-year, with a 15% decline in the Americas and a 7% decline in Asia Pacific, while Europe saw a 6% increase [21] Market Data and Key Metrics Changes - Tire imports from Asia have increased by approximately 4% year-over-year in the U.S., while Brazil experienced a 4% year-over-year decline in passenger car tire imports due to tariffs [7] - In Europe, tire imports remain elevated, with an 8% increase year-to-date as of November 2025 [8] - The company anticipates that domestic tire production in Western regions will return to growth in 2026 and 2027, influenced by trade measures and pent-up demand [26] Company Strategy and Development Direction - The company is focused on reinforcing its leadership in the market and maintaining strong margins and cash generation through cost-saving measures and strategic investments [10][29] - A multiyear agreement with PowerCo, a subsidiary of Volkswagen Group, is expected to enhance the company's position in the battery materials market [16] - The company plans to rationalize Carbon Black capacity in the Americas and Europe to align with current demand levels [12] Management's Comments on Operating Environment and Future Outlook - The management noted that the global demand environment, particularly in Reinforcement Materials, remains challenging due to depressed tire production levels and inflation affecting the replacement cycle [6][26] - The company expects improving EBIT in the second half of fiscal 2026, driven by new capacity in Indonesia and an acquisition in Mexico [22][25] - Management anticipates continued strong free cash flow generation and a robust balance sheet, allowing for flexibility in cash usage [25][29] Other Important Information - The company delivered $50 million in cost savings in fiscal year 2025 and expects to maintain these benefits in fiscal 2026, with an additional $30 million in cost reduction programs planned [10][11] - The Battery Materials product line saw a revenue growth of 39% compared to the first quarter of fiscal 2025, with EBITDA margins at 22% [14] Q&A Session Summary Question: What are you seeing on tire exports leaving the ports in Asia? - Management indicated that tire imports in the Americas have been decreasing sequentially, with a modest year-over-year decline in South America due to tariffs [32][33] Question: Is the volume weakness in Europe silicas due to the construction silicones market or Dow's silanes closure? - Management clarified that the demand weakness is more related to general market conditions rather than Dow's closure [35] Question: Have you quantified the expected earnings contribution from the PowerCo agreement? - Management did not disclose specific earnings contributions due to confidentiality but emphasized the strategic importance of the agreement [38] Question: How does the new Mexico plant fit into America's manufacturing footprint? - The new plant is seen as strategically important, providing operational synergies and supporting long-term partnerships with customers [45][46] Question: How were volumes realized by region in the annual contracts? - Management noted that overall volumes are expected to be relatively flat globally, with some volume loss in Europe due to contract negotiations [48]

Financial Data and Key Metrics Changes - Adjusted earnings per share (EPS) for the first quarter was $1.53, which is 13% lower than the same quarter last year [19] - Operating cash flow was strong at $126 million, with discretionary free cash flow of $71 million [19] - The company ended the quarter with a cash balance of $230 million and a liquidity position of approximately $1.4 billion [20] - Capital expenditures for the first quarter were $69 million, with expectations for fiscal 2026 to be between $200 million and $230 million [20] - The debt balance was $1.1 billion, with a net debt to EBITDA ratio of 1.2 times [21] Business Segment Data and Key Metrics Changes - EBIT in the Reinforcement Materials segment declined by 22% compared to the first quarter of fiscal 2025, primarily due to lower volumes in the Americas and Asia Pacific [4][19] - EBIT in the Performance Chemicals segment increased by 7% compared to the first quarter of fiscal 2025, driven by a favorable product mix and momentum in battery materials [4] - In the Reinforcement Materials segment, volumes decreased by 7% year-over-year, with a 15% decline in the Americas and a 7% decline in Asia Pacific, while Europe saw a 6% increase [21] - In Performance Chemicals, volumes were down 3% year-over-year, mainly due to lower demand in Europe [23] Market Data and Key Metrics Changes - Tire imports from Asia have increased by approximately 4% year-over-year in the U.S., while Brazil saw a 4% decline in passenger car tire imports due to tariffs [7] - In Europe, tire imports remain elevated, with an 8% increase year-to-date as of November 2025 [8] - The competitive environment in the carbon black market has intensified, with pricing declines of 7%-9% compared to 2025 levels [9] Company Strategy and Development Direction - The company is focusing on reinforcing its leadership in the Battery Materials product line, which saw a revenue growth of 39% compared to the first quarter of fiscal 2025 [14] - A multiyear agreement with PowerCo, a subsidiary of Volkswagen Group, is expected to enhance the company's position in the battery materials market [16] - The company plans to rationalize carbon black capacity in the Americas and Europe to improve efficiency and profitability [12] - Cost-saving measures are expected to deliver $30 million in additional savings in fiscal 2026 [11] Management's Comments on Operating Environment and Future Outlook - The management noted that the global demand environment remains challenging, particularly in the Reinforcement Materials segment, due to depressed tire production levels [6] - There are expectations for a recovery in domestic tire production in Western regions in 2026 and 2027, influenced by trade measures and pent-up demand [26] - The company anticipates adjusted EPS guidance for fiscal 2026 to be between $6 and $6.50, reflecting flat volumes in Reinforcement Materials and low single-digit growth in Performance Chemicals [24][25] Other Important Information - The company delivered $50 million in cost savings in fiscal year 2025 and expects to maintain these benefits in fiscal 2026 [10] - The company is reducing capital expenditures to align with the current market environment, with a new CapEx range approximately $60 million lower than 2025 actuals [11] Q&A Session Summary Question: What are you seeing on tire exports leaving the ports in Asia? - The company noted that tire imports in the Americas have been decreasing sequentially, while Brazil has seen a modest year-over-year decline due to tariffs [32][33] Question: Is the volume weakness in Europe silicas due to the construction silicones market or Dow's silanes closure? - The management indicated that the overall demand is not materially impacted by Dow's closure, attributing the weakness to general market conditions in housing and construction [35] Question: Have you quantified the expected earnings contribution from the agreement with PowerCo? - The company has not disclosed specific earnings contributions due to confidentiality but emphasized the strategic importance of the agreement [38] Question: How does the new Mexico plant fit into America's manufacturing footprint? - The Mexico plant is seen as strategically important, providing operational synergies and supporting long-term partnerships with customers like Bridgestone [45][46] Question: How were volumes realized by region for the annual contracts? - The company expects volumes across reinforcement materials to be relatively flat globally, with no significant change in share position in the Americas and a decline in Europe [48]

BYD Co.’s German sales surged more than ten-fold last month as the Chinese automaker continues to expand in Europe’s largest electric-vehicle market. https://t.co/FxsHU74WuF ...