Volvo Cars October sales drop 22% due to lack of core


Due to supply chain difficulties such as chip shortages, Volvo Cars' sales in October dropped by more than one-fifth to 50,815 units, which further indicates that 2021 may become another difficult year for automakers.


BMW's third-quarter net profit soared 42.4%


On November 3, German automaker BMW announced a net profit of 2.58 billion euros (2.99 billion US dollars) in the third quarter, a year-on-year increase of 42.4%. BMW continued to show a high level of profitability in the third quarter, with revenue, pre-tax profit and net profit reaching record levels.


Diss again clashes with union leaders over layoffs remarks


Three people familiar with the matter said on November 3 that a special committee of the Volkswagen Group will discuss the future of CEO Herbert Diess. A week ago, Diss made a long-running conflict with labor representatives because of his layoff remarks.


Volkswagen invests in EU-backed energy transition fund


Volkswagen said on November 3 that it has established a strategic partnership with EIT InnoEnergy, an energy transition fund supported by the European Union, and will become a shareholder of the company to jointly support technology companies in the energy transition field.


Tesla and Uber have reached a partnership to supply Uber's London fleet


Uber said that from November 3, Uber drivers in London who wish to buy or rent environmentally friendly cars will be able to buy or rent Tesla cars as part of the ride-hailing company’s incentive plan to promote the use of electric vehicles.


Panasonic began mass production of Tesla 4680 batteries


The head of the newly merged battery division of Panasonic of Japan revealed that, technically speaking, Panasonic is almost ready to start commercializing the cheaper and higher capacity 4680 battery that Tesla launched last year.


Ford's October sales in the U.S. rebounded sharply


Ford said on November 3 that the company sold 175,918 vehicles in the United States in October this year. Although there was still a 4% decline from the same period last year, it was already the company’s best sales data since April, and it was also 5 years ago. The first month since this month has a year-on-year decline of less than double digits.


Spain's October car sales fell 21%


According to data from the industry organization ANFAC, new car sales in Spain fell 21% to 59,044 in October, as automakers continue to face shortages of semiconductors and other components.


Swedish driverless start-up Einride enters the U.S. market


Swedish driverless electric truck start-up Einride said on November 3 that it has begun business in the US market and has signed contracts with General Electric Appliances, Swedish milk manufacturer Oatly, and tire manufacturer Bridgestone as customers.


U.S. Democrats plan to increase tax credit eligibility for expensive electric trucks and SUVs


The Democrats of the U.S. House of Representatives announced on November 3 a new social expenditure and climate measure that increased the $12,500 tax credit for higher-priced zero-emission vehicles and lowered income restrictions for eligible car buyers.


BorgWarner's third-quarter profit fell 21.5%


Production suspension and rising commodity costs affected BorgWarner's third-quarter profit. In the third quarter, BorgWarner’s adjusted operating profit was US$311 million and net revenue was US$3.4 billion, while operating profit in the same period last year was US$396 million and revenue was US$2.5 billion.


Lyft's third-quarter net loss narrowed, revenue climbed 73%


Driven by the improved demand for ride-hailing services from the new crown pneumonia epidemic, Lyft's third-quarter revenue climbed 73% from the same period last year to US$864 million, and its net loss also narrowed to US$71.5 million from US$460 million in the same period last year.


Waymo self-driving cars will begin to map New York City streets


Waymo, an unmanned driving technology company, will soon begin operations in Phoenix, the most densely populated city in the United States. The company said on November 3 that it will begin drawing streets of New York City this week. Five of Waymo’s Chrysler Pacifica minivans began to learn the roads of Manhattan, mainly south of Central Park.


Rivian aims to deliver more than 1,000 cars by the end of the year


Rivian began to slowly increase the production of R1T electric pickup trucks and confirmed that it will deliver about 1,000 vehicles before the end of the year. Rivian revealed that as of the end of October, it had produced 180 R1Ts and delivered 156, and almost all of these vehicles were delivered to Rivian employees.


Ford F-150 orders exceed 160,000 copies


According to Ford, the cumulative number of reservations for the upcoming pure electric Ford F-150 Lightning has increased to more than 160,000, which is about 10,000 more than when the car entered the pre-production stage in mid-September.


Porsche will open Canada's first experience center


Porsche will open Canada's first experience center in the Toronto area, where consumers can test Porsche's high-end sports cars and develop driving skills. The center will open in 2024 and will occupy an area of 20 acres.