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“This is exactly what some people think companies like Tesla should have done — let experienced companies like Magna do the manufacturing for them,” said James Chao, Shanghai-based chief analyst at consultancy IHS Markit. “They would allow them to ramp up much more quickly, without production hiccups.”. Magna officials say the China joint venture’s primary objective is to help develop vehicle technologies for BJEV. It is also expected to produce cars for BJEV’s Arcfox brand that aims to compete with Tesla Inc (TSLA.O), according to BAIC.
But it could offer the same services to external companies or make “already developed products” with different platforms from the one the joint venture would help develop for BJEV, said Klaus Drobnak, head of Magna Steyr’s Asia operations, Asked how quickly and big contract manufacturing would grow in China, Drobnak, who is based at Magna Steyr’s headquarters in Graz, Austria, said he wasn’t sure at this early stage, “But we are jack sparrow flag cufflinks trying to spearhead such a development,” he said..
BAIC spokesman Lian Qingfeng said there are some auto companies in China who need a premium manufacturing service and that “any of them could be the potential customer of the new JV.”. Didi will most likely be one of Magna’s first clients in China given its deal with BAIC this year to work together on customised vehicle design, according to three of the people. All sources declined to identified as they were not authorised to speak to media on the matter. The firm, which dominates China’s ride-hailing market and which sources have said was valued at $56 billion in 2017, wants its own fleet, tailored for ride-hailing and car-sharing. The cars are set to emphasise passenger comfort but may not have features such as the high performance engines found in mainstream models as they will not need to go that fast.
Its plans come amid increased restrictions on car ownership in cities jack sparrow flag cufflinks such as Beijing and Guangzhou to ease congestion and combat pollution - changes expected to spur more use of ride-hailing and car-sharing, said Yale Zhang, head of Shanghai-based consultancy Automotive Foresight, Didi’s first-generation car, dubbed the D1 internally, is slated to be deployed by 2020, people familiar with the plans said, Its D2 and D3 models are also being worked on, although they are still in the early planning stages..
Didi declined to comment on specific plans, saying only that BAIC was a valued partner. For both companies, partnering makes sense as they seek to manage the very expensive costs involved in electric car technologies. “We pay half and half for R&D and manufacturing costs and we would share revenues. We save a ton of money,” said one of the people. Singulato, backed by domestic investors and Intel Corp (INTC.O) which has a small stake, also has a pre-existing partnership with BAIC. That deal includes the development of ‘intelligent vehicles’ and sharing manufacturing resources.
It needs a contract manufacturer’s help rather urgently because it has not yet received a car assembly license from regulators, even though it plans to begin producing and selling its first model, an SUV called the iS6, by the end of this year, Two sources said the Magna-BAIC plant, which needs to be modified and re-tooled in line with Magna’s production system, may not be able to help Singulato immediately, In that case, the iS6 would likely be first made by BAIC with the jack sparrow flag cufflinks joint venture possibly taking over later, they said..
MILAN (Reuters) - The head of Fiat Chrysler’s (FCHA.MI) Europe, Middle East and Africa business Alfredo Altavilla has stepped down, a source with knowledge of the matter said on Monday. Altavilla, along with Jeep brand head Mike Manley and CFO Richard Palmer, was among the top candidates to succeed FCA’s longtime CEO Sergio Marchionne when he stepped down next year. But after Marchionne fell seriously ill due to complications following surgery, the company accelerated the succession plans and on Saturday appointed Manley to succeed Marchionne.
HOUSTON (Reuters) - The world’s largest oil companies are pumping more natural gas than ever jack sparrow flag cufflinks before, helping to spur a rise in profits while sating rising global demand for fuels that can mitigate global greenhouse gas emissions, This marks a shift over the past decade for an industry that once focused predominantly on crude oil, with gas in most cases an after-thought, Now, the rise of gas-powered electric generation, surging production from U.S shale fields and the burgeoning liquefied natural gas (LNG) industry that makes shipping the fuel possible, have conspired to create a boom..