Ford Rethinks 2030 (Again), Tesla's 2-way Advantage, Malibu Sunset

Shoot us a Text.

Five days out from ASOTU CON we’re talking about Ford’s re-think of EV strategy in Europe of all places. We also talk about Tesla’s advantage in bi-directional charging, as well as an homage to an iconic mid-sized grocery getter. 

Show Notes with links:

• Earlier in the week it was the Lincoln brand and now Ford is pumping the brakes on its all-electric pledge for Europe by 2030, adjusting to the slower-than-expected uptake of EVs across the continent.
  • Ford originally committed in 2021 to sell only electric cars in Europe by 2030, outpacing EU emissions goals. Now, they might extend sales of ICE vehicles if demand persists as the company reports a "softer" demand for EVs than anticipated, prompting a reevaluation of their strategy
  • To this point, Ford has invested $2 billion in converting its Cologne, France factory for electric vehicle production, with new electric models set to launch soon.
  • In response to the U.K.'s strict ZEV mandate, Ford plans to limit ICE vehicle sales rather than incur losses on forced electric sales.
  • Martin Sander, head of Ford's passenger cars business in Europe said, "We are not going to pay penalties. We are not going to sell electric vehicles at huge losses just to buy compliance."
    
    
    
• Tesla is enhancing its competitive edge with a new bi-directional charging technology, setting the stage for significant advancements in its energy business.
  • Tesla is introducing bi-directional charging with the Cybertruck, offering this technology at significantly lower prices compared to competitors like GM.
  • The company is showcasing higher profitability in its energy sector than in automotive, with expectations to boost energy storage deployments by at least 75% this year.
  • Utilizing its Autobidder platform, Tesla is optimizing energy usage across its products, potentially transforming every car into a mini power station.
  • However, Tesla's bi-directional charging could disrupt its own Powerwall sales, as the technology allows vehicles to supply power back to the grid.
  • Quote from Vaibhav Taneja, CFO of Tesla: "We are aiming to exploit the significant storage capacity with an expected increase in energy storage deployments by at least 75% this year."

• We’re ending the show today with a fond farewell to a vehicle that started off as cool and muscle-ly but then developed a utilitarian dad-bod as GM is bidding farewell to the Chevy Malibu after six decades in it’s shift to focus on EVs.
  • GM is ceasing production of the Chevy Malibu in November, making way for a significant investment in the Chevrolet Bolt EV at its Kansas City plant.
  • The automaker has sold over 10 million Malibu cars globally
  • The Malibu's departure marks the end of an era, leaving the Corvette as the last gas-powered Chevrolet car, following the discontinuation of the Camaro in 2024.
  • GM simply said "We are making room for approximately $390 million investment in an updat

Hosts: Paul J Daly and Kyle Mountsier

Get the Daily Push Back email at https://www.asotu.com/

JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/

Read our most recent email at: https://www.asotu.com/media/push-back-email