General Motors and Hyundai reported strong Q1 earnings with GM raising its profit forecast despite challenges in China, while Hyundai saw significant profit growth. Both automakers plan to expand US battery production, with GM partnering with Samsung SDI and Hyundai increasing capacity in Georgia. Chrysler is reportedly developing a new electric sedan, possibly replacing the 300 model. A new SAE study reveals EVs often underperform EPA range estimates compared to ICE vehicles, highlighting testing inconsistencies. Boston is electrifying its school bus fleet, and Siemens opened a new EV charger plant in Texas, signaling growth in EV infrastructure.
Topics:gm earningshyundai earningsus battery productionchrysler electric sedanev battery lifesae ev range studyboston electric school busessiemens ev chargersev testing standardselectric vehicle infrastructure
- GM Q1 Sales Dip Due To 24% Drop in China - Hyundai Posts Massive Financial Gains - GM to Open U.S. Battery Plant with Samsung SDI - Hyundai Boosts Capacity at Planned U.S. Battery Plant - Chrysler Shows Dealers New Electric Sedan - Tesla Shows Minimal Battery Degradation - BMW Expands In-Vehicle Live Sports Streaming - SAE Study Finds EVs Fall Short in EPA Estimates - Boston Converting School Buses to Electric - Siemens Opens New EV Charger Plant in Texas
"... twenty one, and about the same size as the Dodge Charger daytona concept that would indicate that it's bas..."
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This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry.
General Motors and Hunday reported their first quarter earnings this morning, and let's hit the highlights. Starting with GM. While it sold more vehicles in North
America than last year, sales were down in South America and China, which dragged its overall sales down three percent. That total came to one point three
eight million vehicles in the last three months of the year thanks to selling more vehicles in North America at higher prices. Its revenue hit almost forty billion dollars,
which was up eleven percent. Its operating profit hit two and a half
billion dollars, up seventeen percent, but its net profit of two point three billion was sixteen percent lower than last year. That's because GM got far less
income from its Chinese joint venture partners, where sales fell twenty four percent and GM had to pay four hundred million dollars more in taxes versus a year ago.
Even so, GM's earnings beat Wall Streets expectations, and it told analysts it's going to raise its profit forecast for the year. Meanwhile, the Hunday
Group posted massive financial gains over the last year. It's sold just over a
million vehicles worldwide in the last three months, up twelve and a half percent.
Its revenue hit twenty eight billion dollars, almost up twenty five percent, and now the numbers are red hot. Hunday's operating profit shout up eighty six
percent to more than two point six billion dollars, while it's net profits skyrocketed ninety two percent, hitting two and a half billion dollars. Even if you
compare Hunday's earnings to the fourth quarter of last year, they're up significantly.
GM and Hunday also announced plans to make more bades in the US. GM
is joining forces with Samsung SDI to build prismatic and cylindrical nickel rich batteries.
The plant will make thirty gigawatt hours of batteries at full production, bringing GM's total US battery capacity to one hundred and sixty gigawatt hours. Neither company said
where the plant will be built, but remember GM and LG had a falling out over a battery plant that was supposed to go into Indiana, so maybe the plant with Samsung will go there. And we already knew that Hunday was
building a battery plant in Georgia, but it looks like it's going to be bigger than first announced. Earlier reports said the plant would make twenty gigawatt hours.
Now Hundy says it will produce thirty five gigawatt hours of batteries, which it says will support about three hundred thousand electric vehicles. Not Schiffler, We
plant the emotion electrifying mobility, manufacturing smarta, reducing CO two emissions, making energy production clean Cheffler pioneer's motion to advance how the World moves. Ford CEO
Jim Farley recently said the Chinese market is saturated with two row crossovers, and really we think the same could be said of Europe. In the US,
especially with new evs, and that's why we're excited to see a report from mopar Insiders that cites dealers sources who say they were shown in all new all electric sedan from Chrysler. It's said to be a sleek, fastback sedan similar
to an outline shown its EV day in twenty twenty one, and about the same size as the Dodge Charger daytona concept that would indicate that it's based on the Stella large platform, and the obvious thing to speculate here is that this could be the EV replacement of the Chrysler three hundred mopar Insiders also claimed Chrysler's expected to add the airflow to its lineup late next year, and some people are worried that evs will be like our phones or laptops, where the battery
works fine at first, but over the course of three to five years it struggles to hold a charge and then they'll be stuck replacing an expensive battery pack.
But EV batteries are designed to last ten to twenty years while maintaining up to seventy percent of their original capacity, and new data released by Testlas shows that the Model Essen acts do really well at retaining battery life. It reports
that after two hundred thousand miles of driving, the batteries in those models are only degrading about twelve percent. And Electric reports that model type and battery size
plays a role in the amount of degradation, and also that early data on the Model three and Y shows a loss of less than fifteen percent over two hundred thousand miles, But obviously there's a lot less of those vehicles that have reached that mileage yet since they came out later. Do you remember a recent
report we had about BMW bringing live Footballer soccer onto the giant rear cinemas screen of the seventh series for customers in Germany, Austria and Switzerland. Well,
now it's expanding that pilot test into more European countries, the Americas as well as Asia. The test lasts until March of next year. And while BMW
will likely have a deal to live stream American football in the US, I wouldn't mind watching some of the playoff hockey that's going on right now in the seed of A seven series. We want to know what drives you're testing.
OTA Connected Car Diagnostics, remote testing, Intrepid Control Systems is here to help you work from anywhere. Intrepid control Systems driven by your data. A new
paper published by SAE International says electric vehicles are more likely to fall short of EPA estimates in real world testing than ice vehicles. The study used data from
car and drivers real world test going back to twenty sixteen, and it's seventy five mile per hour test more than three hundred and fifty ice vehicles averaged four percent better fuel economy than their EPA figures, while evs got twelve and a half percent less range than what's on their labels. One reason for the difference
is how range is calculated. The EPA only provides a combined rating, which
has weighted more in favor of city driving, where evs perform better, which boost their estimates. The SAE suggests providing a city in highway rating, like
the EPA does with ice vehicles, car and drivers. Real world tasks are
done at a constant seventy five miles an hour, but in the EPA testing the speed varies, which allows evs to use regenerative braking and that also helps improve the range. And the EPA test is done at lower speeds, and
there's two different formulas it uses to simulate the effects of higher speeds in automakers get to choose which formula they prefer, which means range figures aren't perfectly comparable.
So the SSAYE suggests the tests should be standardized so all vehicles are tested equally to get more accurate results. Boston, Massachusetts, is converting its entire
fleet of seven hundred and fifty public school buses to electric by twenty thirty and the city just received its first twenty buses from the Bluebird Corporation. The buses,
which can carry up to seventy one students, have a range of one hundred and twenty miles and can fully recharge in four hours using a level three thirty kilowatt fast charger. Bluebird says energy costs for its electric buses are fourteen
cents per mile compared to forty nine cents per mile for diesel and we wonder if the City of Boston will take advantage of bidirectional charging, where they can sell electricity in the vehicle's batteries back to the utilities. We learned at CS
that two school districts in Massachusetts and Vermont did this and they earned ten thousand dollars per bus as part of pilot projects. The German supplier Semens just opened
a new plant in Texas to make ev chargers. Their level two AC chargers,
which range from eleven and a half ten nineteen and a half kill watts, and that means they'll probably mostly be used at homes and small businesses, but could really be used almost anywhere. It's semens second charger plant in the
US, and it plans to build a million chargers for the market. That's
it for today, Thank you for watching. Altoline Daily is brought to you
by Bridgestone Solutions for your journey, Intrepid Control Systems over the year engineering boost your game, and by Scheffler we Pioneer Motion
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