Trade tensions and regulatory challenges dominate the automotive landscape as Trump threatens widespread tariffs, impacting global automakers and Mexico's stance on BYD's plant. European manufacturers struggle to meet strict CO2 targets, with Tesla standing alone in compliance. GM and Hyundai explore joint pickup trucks for Latin America and other markets. California plans to reinstate EV subsidies excluding Tesla, while Rivian secures a massive federal loan for a new EV plant. Porsche scales back EV goals amid cooling demand. The episode also covers high-profile race car auctions, GM's upcoming F1 entry, and Huawei's luxury self-driving sedan launch.
Topics:trade tariffseuropean co2 regulationsgm hyundai partnershipelectric vehicle incentivesrivian ev plantporsche ev salesluxury electric sedangm formula 1 entryrace car auctionsbyd mexico plant
- Trump Promises Widespread Tariffs - Mexico Dragging Its Feet with BYD Plant - EU OEMs Need Help Meeting CO2 Standards - Only Tesla Meets EU CO2 Standards - GM and Hyundai Consider Joint Pickups - California Plans Its Own EV Credits - Rivian Gets Massive Federal Loan for New Plant - Porsche Extends ICE Development - Indy Museum Auctioning Impressive Collection - GM Officially Enters F1 - New China Lux Sedan Starts at $140K
"...s of electrics to improve a bit, with the updated Tikon and the all new Macan Electric arriving in showro..."
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Speaker 1: This is out Aline Daily, the show dedicated to enthusiasts of the global automotive industry. Donald Trump is still two
months away from being sworn in as President of the United States, but he's already trying to legislate through social media.
On his true social platform, Trump promised to slap tariffs on virtually all imports, and that promise is rippling out across the global economy. Shares of European carmakers fell on
the news, with Stilantis leading the way. Its stock fell
over four percent, Daimler Truck fell three and a half percent, Mercedes and Portia were down two percent, while BMW and VW were down one percent. And now Mexico, which exports
two point two million vehicles to the US every year, is suddenly slow walking BYD's application to build an assembly plant there. Several Mexican states have dialed back the incentives
they were offering to BYD, and the federal government isn't happy with the timing of BYD's efforts. It worries that
if it approves a Chinese company to build an assembly plant now, it could risk access to the US market under Trump. But what everyone is wondering is this is
Trump really gonna slap big tariffs on everything or is this just a tactic to get favorable trade deals from other countries. Meanwhile, over in Europe, automakers are begging legislators
to ease off their CO two emission regulations for next year.
The ACEEA, which is the European automaker's trade association, says that the car companies can't meet those standards due to factors outside of their control, namely insufficient public charging stations for electric cars and not enough subsidies for consumers to buy them. This year, new cars must average one hundred
and fifteen grams of CO two per kilometer. Next year
it drops to ninety three point six grams, and if they don't hit that number, automakers have to pay a fine of ninety five euros per gram per kilometer driven for every single car that misses the target. In twenty
thirty the standard drops to only forty nine and a half grams of CO two per kilometer and then to zero win twenty thirty five, so automakers potentially face billions of euros in fines, and based on a report from the European Environment Agency, currently no automaker in Europe will hit that standard. Except for Tesla. The worst offenders are Volkswagen,
Ford and the Toyota group, which includes Mazda, Subaru, and Suzuki.
Mercedes and BMW are also well off the mark. The
automakers that come closest are Kia, Hyundai and Stilantis. However,
there is is one loophole automakers can pull their emissions together, where companies with lower emissions can combine with those that have higher ones. For example, Honda and JLR have pooled
their emissions with Tesla. Up until now, pooling allowed automakers
to avoid fines, but next year could be a disaster for the industry and the Acea. Warrants that the clock
is ticking. Knowing that a little rain won't slow down
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GM and Hyundai made waves in September by signing a memorandum of understanding to explore ways to collaborate on vehicles, supply chains and clean energy tech well Now. A Korean
publication reports that leaders from both companies met again earlier this month to discuss the partnership and during that time talked about jointly developing pickup trucks. It says they're considering
rebadging models but don't know who will provide the platform yet, and that the trucks would be aimed at the Latin American market. Last year, just over a million pickup trucks
were sold in the region, with the Toyota high Lux topping the charts, but with more models like the BYD Shark and now possibly two more from GM and Hundai, automakers must feel there's room for growth. Another benefit is
these trucks can usually be adapted for other pickup friendly markets like Africa, Australia and the Middle East. California is
planning to revive subsidies for purchasing an EV if the Trump administration follows through on its threat to remove federal EV credits. The state phased out its EV incentives last year,
but Governor Gavin Newsom says those credits will come back if the federal ones are eliminated. However, Newsom says that
Tesla will be excluded from receiving incentives, which Elon must blasted as insane and speaking of EV incentives, Rivian just received preliminary approval for a six point six billion dollar US federal loan for its planned EV plant in Georgia.
Rivian delayed construction of the plant earlier this year to help cut costs as it struggled to ramp up production at its plant in Illinois. The factory in Georgia will
build Rivian's upcoming R two and R three SUVs. The
site will be built in two phases and have an initial capacity of two hundred thousand vehicles, which will increase to four hundred thousand in the future. Production is targeted
to begin in twenty twenty eight, but Rivian needs to meet certain technical, legal, ENVIRONMENTALNTAL, and financial conditions to be able to finalize the loan. Most automakers have scaled back
EV plans because sales aren't where they expected them to be, and now Portia is the latest. It previously set a
goal of eighty percent BEEV sales by the end of the decade, but now the company's chief financial officer says it's going to continue developing ices because its EV demand is cooling. Through September, EV's accounted for seven point three
percent of Porscha's global sales, down from twelve percent a year ago, and that's mostly due to a nearly thirty percent slump in EV sales in China. Next year, Porscha
expects its sales of electrics to improve a bit, with the updated Tikon and the all new Macan Electric arriving in showrooms. The Indianapolis Motor Speedway Museum is selling off
some impressive race cars from its collection in part to help fund renovations. Nine of the eleven vehicles are estimated
to bring in up to thirty four million dollars, but the two crown jewels of the auction are expected to bring in a lot more. A nineteen sixty four Ferrari
that one Lama is estimated to bring in in excess of twenty six million dollars, while in nineteen fifty four Mercedes driven by both Juan Manuel Fonngio and Sir Sterling Moss, is expected to fetch over fifty two and a half million, although some have it valued closer to seventy million. The
cars will be auctioned by r M Sotheby's at events in Stuttgart, Paris, and Miami. Speaking of racing and as
a follow up to yesterday, GM officially revealed it will enter F one in twenty twenty six under the Cadillac brand.
Reports say it will initially use Ferrari engines, but GM says it will build its own vehicles power units by the end of the decade. Also another follow up, here's
a little bit more detail of that luxury sedan, the may Extro S eight hundred, which comes from tech company Huawei and Chinese automaker jac It says it will offer level three self driving capabilities, but as a model that's supposed to compete with Bentley and Rolls Royce, a portion of owners may never get behind the wheel. Starting prices
for the S eight hundred range from about one hundred and forty thousand up to two hundred thousand dollars, and the company is already taking deposits. As a quick reminder,
with the Thanksgiving Day holiday approaching in the US, autoline will be off on Thursday and Friday of this week.
But that brings us to the end of today's show and thanks for tuning in.
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