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Foley Automotive Report – Rail, Road & Biking – United States

Foley Automotive Report – Rail, Road & Biking – United States

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Julie Dautermann, Competitive Intelligence Analyst

This report helps auto suppliers communicate their legal and operational decisions to help address challenges and opportunities. Contact Foley’s relationship partner, Ann Marie Uetz, Vanessa L. Miller, or Nicholas J. Ellis, to follow up.

Key developments

  • Foley & Lardner She was among the sponsors of the OESA 2022 Auto Supplier Conference held in Novi, Michigan on November 7. stay connected Dashboard Insights For the main meals of the event.
  • Latest article in Foley & LardnerSupply Chain Disorders provides essential information on a number of a key Terms and conditions for buyers and sellers in the supply chain To consider commercial forms. Click here to subscribe to the article series.
  • LMC ratings for cars Sales of new US light vehicles hit 15.1 million units in Octoberwhich is an 11% increase from October 2021, but a 14% decrease from October 2020. LMC expects new light vehicle sales for the full year 2022 from 13.7 million units.
  • New car prices in October It averaged 33% above pre-pandemic levelsand as many as five million consumers in the United States are still waiting to buy new cars, according to data from dinar strength excerpts in The Wall Street Journal and the News agency. The analysis also notes that consumers can expect “a slight and sustained easing of new car prices.” However, a rapid decline in prices is not expected in the near term.
  • Edmunds estimated Average annual percentage rate on me New Car Loans It reached 6.3% in October, and in the coming months APRs could reach their highest levels in more than a decade, according to data excerpted at Bloomberg.
  • Toyota It cut full-year production guidance by 500,000 vehicles to 9.2 million vehicles, citing market headwinds including Semiconductor supply shortage.
  • Argo AI It was reported that operations were terminated after its main backers,
    stronghold And the VolkswagenThey indicated that they would stop investing in the autonomous vehicle technology company. Ford said it will cut capital spending on Level 4 advanced driver assistance systems to prioritize in-house development of L2+/L3 technologies.
  • stronghold The company reported a third-quarter profit loss of $827 million, which was attributable to a non-cash pre-tax impairment of $2.7 billion on its investment in Argo AI. Revenue rose 10% year-over-year to $39 billion, but the quarter was affected by about 40,000 vehicles are waiting for spare partsBeside $1 billion in supplier payments higher than expected.
  • Electric vehicles and low emission technology:
    • Government officials from the European Union, South Korea and Japan continue to express concerns about the implications of the vehicle sourcing requirements to which they apply Electric vehicle tax credits In the US Inflation Reduction Act.
    • Bloomberg Requested reports from automakers including Ford US Treasury For clarity and flexibility with respect to some provisions that affect Electric vehicle tax credit eligibility.
    • report in Dive into the supply chain It addresses a number of challenges in creating a Electric vehicle battery supply chain in the United States, including limited domestic reserves of key raw materials such as lithium. For additional context on this topic, there is a recent article at Foley & LardnerSupply Chain Disorders provides an overview of current issues affecting production and supply
      Lithium ion batteries.
    • A new report from S&P Global Mobility assesses the risk factors that can affect . supply chain
      Battery raw materialsincluding geopolitical tensions, environmental, social and governance concerns, and rising commodity prices. [Press
      release only, full report not publicly available
      ]
    • The European Union
      Reaching an interim agreement may require all new passenger cars sold in the block Zero-emission vehicles starting in 2035.

Market trends and regulation

  • LMC Automotive appreciates that The production share of global auto brands in China fell to 47%from 54% in 2019, due to increased market penetration by local Chinese brands in the country.
  • transport subjectIt was reported that a number of industry representatives expressed their concerns during a recent public hearing regarding Californiaproposed
    Advanced Clean Fleet List, including the availability of charging infrastructure and the impact on vehicle cost and performance. The country hopes to achieve a zero-emission fleet of trucks and buses by 2045.
  • Law 360 Reports of a number of countries and industrial organizations asked the Capital Department to close
    US Environmental Protection Agency Regulations that promote Greenhouse gas standards for automobile emissionsclaiming that the agency had exceeded its authority.

OEMs/suppliers

  • Magna International It will invest more than $500 million in three locations in Michigan to support production of battery components and seat parts.
  • ler Announced plans to invest $80 million in a new manufacturing facility in Michigan after winning a contract to exclusively supply the battery splitter in all full-size SUVs and trucks. GM‘s Ultium EV . platform until 2030.
  • Stilants Third-quarter revenue was 42 billion euros, an increase of 29%, compared to the same period last year. The automaker noted that its vehicle deliveries rose 13% in the quarter, amid improved semiconductor supplies.

Connected / Autonomous Vehicles and Mobility Services

  • lidar makers in california Oster And the
    veloden He announced plans to merge, in a deal that would result in shareholders owning approximately 50% of the combined company. The transaction is expected to close in the first half of 2023.
  • Bloomberg Reports used by automakers lidar frequently in production vehicles to improve functionality Advanced Driver Assistance Systems (ADAS). Lidar has so far been used mainly for highly specialized self-driving vehicles. However, it is expected to roll out on a larger scale as technology prices fall.

Electric vehicle technology and low emissions

  • Hyundai Work has begun on the $5.5 billion electric vehicle and battery plant in Georgia, with production expected to begin during 2025, representing the first electric vehicle plant in the United States.
  • Panasonic Construction on its new battery plant in Kansas began last week, and production is expected to begin in 2025.
  • The Biden administration has announced recipients of the U.S. Environmental Protection Agency for the 2022 fiscal year Clean School Bus Programwhich will give nearly $1 billion to 389 school districts across the country.
  • A report issued by the Fuel Institute indicates the expansion of Public infrastructure for charging electric vehicles In the United States due to insufficient Zoning requirements and permitting processes.
  • report in
    Bloomberg assessing a number of associated repercussions BUY AMERICA’S REQUIREMENTS For some federally funded Electric Vehicle Charging Projects.
  • GM Headquartered in Houston
    microfast Intend to joint development Electric vehicle battery separator technologyand building a new separator plant in the United States. The project will be supported by a grant of $200 million funded by Bipartisan Infrastructure Law.
  • Electric Work Truck Manufacturer Via Motors Moving its headquarters to Auburn Hills, Michigan, to a site that will serve as a design and testing center for the company’s vehicles.

The content of this article is intended to provide a general guide to the topic. It is recommended to take the advice of specialists in such circumstances.

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