VinFast's dramatic stock plunge wiped out $50 billion in market value shortly after its NASDAQ debut, highlighting the volatility of SPAC listings. The UAW is gearing up for a likely strike against Detroit automakers amid contract tensions. Hyundai plans a major EV and battery plant in Georgia, while a potential US Steel acquisition by Cleveland Cliffs raises concerns over steel market monopolies. Pininfarina and Lamborghini revealed striking electric concept cars, showcasing luxury EV innovation. Chinese battery maker CATL's new M3P chemistry promises improved range and cost-efficiency, soon appearing in Tesla's refreshed Model 3. Mercedes AMG unveiled its powerful second-gen GT coupe, and Jay Leno partners with Dodge on car care products.
Topics:vinfast stock plungeuaw strike preparationshyundai ev plantsteel industry consolidationpininfarina electric conceptslamborghini electric conceptcatl m3p batterytesla battery updatemercedes amg gt coupejay leno dodge partnership
- VinFast Loses $30 Billion In Market Cap - Fain Rallies UAW Members - Hyundai and Kia Coming Out with Midsize EV Pickups - OEMs Worry About Steel Monopoly - Pininfarina’s Electric Concepts - Lamborghini Unveils First EV - Tesla Highland to Use CATL M3P Battery - Mercedes Unveils New GT Coupe - Jay Leno and Dodge Partner on Car Care Products
"...y will be the Cherry Luxeed S seven. The upcoming Tesla Model three refresh code name Highland will use the bat..."
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This is Auto Line Daily, the show dedicated to enthusiasts of the global automotive industry. When vin Fast, the Vietnamese startup, hit the NASDAK Stock Exchange
in the US last week with a spack it was headline news. After the
first day of trading, vin fast market cap was eighty five billion dollars, compared to forty eight billion for fort and forty six billion for GM. Some
called it an astonishing achievement, but like every other spack listing, it didn't last long. Vin Fast shares plummeted fifty eight percent from its high point over
the last few days, wiping out fifty billion dollars worth of market valuation.
The company is now worth thirty five billion dollars, but we think it's going to drop even further. One reason for the SEESAW stock price is that very
little trading is going on, meaning not many people are buying or selling it shares. UAW president Sean Fayne continues to motivate union members to prepare for a
strike against the Detroit three automakers. Over the weekend, he held a rally
in suburban Detroit attended by hundreds of enthusiastic UAW members. Fayne told them the
automakers expect them to quote settle for scraps, and he promised that's going to end. Union workers are voting this week on whether to authorize a strike vote,
and it's likely it will be overwhelmingly approved. We are now twenty four
days away from the current contract expiring, and it sure looks like there will be a strike. The Inflation Reduction Act or IRA SURE convinced the Hyundai Group
to make big EV investments in the US. It's building an EV and battery
assembly plant in Georgia that will make six electric models for Unda, Kia and Genesis. Automotive News reports that three of those models will be for Genesis.
The plant, which will be open in January at twenty twenty five, will have the capacity to make three hundred thousand vehicles a year on straight time, with the flexibility to boost that to five hundred thousand, presumably with additional shifts.
Hundai and Ki are going to come out with mid size electric pickup trucks in late twenty twenty six, and they could also be made at the plant.
Oh, here's something that car companies don't want to see. There's a
bidding war breaking out. To buy the company US Steel. What the OEMs
don't like is that Cleveland Cliffs, the largest automotive steel supplier in the US, is one of the companies trying to buy US Steel. That would give
Cleveland Cliffs control of more than fifty percent of the automotive steel market in the US. Auto makers already have a bit of a contentious relationship with Cleveland Cliffs,
and this merger would give them even less leverage in negotiations. Automakers aren't
as concerned with other bids for US Steel because there isn't as much overlap in the business as there is with Cleveland Cliffs. The Taging Automotive Technologies we combine
world class composite materials expertise with cutting edge designs because frankly, there are better ways to lightweight vehicles, so lighten up with Taging Automotive Technologies the formula for better mobility. Pininfarina, the famous Italian design house that's now owned by Mahendra,
unveiled three beautiful electric concept cars on the eve of the Pebble Beach Concours.
The B ninety five is a two seat roadster that will go into production in twenty twenty five. But you better have a hefty bank account. Only
going to make ten of them. Each one will be customized so that not
one of them is the same as the other, and they're going to be priced at four point four million euros or about four point eight million bucks.
The Pure of Vision is a four seater with suicide doors and a glass roof that partially opens like gallwings for easier entry and exit. And then there's the
Nino Farina, named after the famous Grand Prix driver from the nineteen fifties who was known to sing at the top of his lungs while racing. This car
actually debuted at the Goodwood Festival of Speed last month, but we just wanted to slip in that reference to Farina's singing. And speaking of famous Italian brands,
Lamborghini showed off a concept version of its first all electric model called the Lanza Door. It's a high riding two plus two coup that mary's elements of
Lambo's current styling with all new lighting elements, with room for two more people behind the front seats. The roofline extends much further than your typical Lamborghini,
but the rear axle has also been pushed back really far, so it doesn't end up looking to goofy. Power will come from two electric motors that it
says combines for more than one thousand kiloots or over thirteen hundred horsepower. However,
Lambo didn't say anything about the battery or range. Other highlights include rear
wheels steering, as well as an active arrow and suspension system. Front seat
passengers have their own little cockpit area, and each have a display screen embedded in the dash. The lands Adore, if that's even what it ends up
being called, will become the fourth model in Lambo's lineup when it launches in twenty twenty eight. Earlier this year, Chinese battery makers COATL introduced a new
battery chemistry that it calls M three P. It has more energy density than
lithium iron phosphate or LFP batteries, and it's cheaper than nickel manganese cobalt or NMC, and now we're learning more about its specs. Car News China reports
that M three P is twenty percent cheaper than NMC cells. Compared to LFP,
it's ten percent more expensive, but the energy density is twenty percent higher and the cost per watt is three percent lower, and the battery pack is estimated to deliver seven hundred kilometers or four hundred and thirty five miles of range.
The first vehicle to hit the market with the battery will be the Cherry Luxeed S seven. The upcoming Tesla Model three refresh code name Highland will use
the battery, and Tesla is also testing it in the Model Y. Mercedes
AMG pulled the wraps off the second gen version of it's GT coup It features updated styling and performance, as well as all wheel drive with rear wheel steering and the option for two plus two seating for the first time, pot it doesn't look like there's a whole lot of room behind the front seats. Some
of the other highlights of the AMGGT coup are a hybrid aluminum steel, magnesium and carbon fiber structure, active suspension and arrow and high performance breaks. Power
comes from a four leader twin turbo V eight that comes in two outputs and is mated to a nine speed automatic transmission. One version has three hundred and
fifty kilowatts or four hundred and seventy six horse power and will do zero to one hundred kilometers an hour in three point nine seconds, while the other has four hundred and thirty nine kilowatts or five hundred and eighty five horse power and will do zero to one hundred in three point two second. Here's a partnership
that makes a lot of sense. Jay Leno a comedian known for pumping more
power into many of the vehicles and is very impressive. Collection and Dodge,
a company known for pumping more power into every new special edition model that it comes out with, are coming together to offer a co branded line of car care products. We're talking everything from car shampoo to tire shine and even drying
towels. They say ordering information and pricing will come out in the fourth quarter
of this year. But that brings us to the end of today show.
We appreciate you making autoline part of your day. Autoline Daily is brought to
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