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Elm Analytics - Automotive Supply Chain Risk Digest #84 - September 14 - 19, 2018
CHANGE IN MANAGEMENT
Lotus Cars has named former JLR executive, Phil Popham, as its new CEO. Popham had previously been the CEO of British luxury yacht company, Sunseeker.
Liam O'Connor, VP of global supply management at Tesla, is reported to have resigned. O'Connor may be the fifth senior executive to leave Tesla in the past month.
Auto News Europe: "In a world of robots, automakers are hiring more humans"
A federal judge has dismissed a criminal case brought against General Motors in 2015 over their handling of an ignition switch defect linked to 124 deaths. Federal prosecutors told the judge that GM had complied with a deferred prosecution agreement for the past three years.
Nissan is recalling over 230,000 vehicles in the U.S. and Canada over an anti-lock brake pump defect that may increase the risk of a fire. They are advising owners to park outside and away from other vehicles or structures.
MERGERS, VENTURES, ACQUISITIONS
Volkswagen is hoping to create an alliance with other automakers to create an industry standard for self-driving technology. According to an unnamed VW exec, the automaker believes an alliance would give companies better legal protection following accidents involving self-driving cars.
Saudi Arabia's sovereign wealth fund is investing over $1b into Silicon Valley based Tesla rival Lucid Motors. The deal will help Lucid produce its first model in 2020 that they are years behind schedule on.
Magna International is selling its global fluid pressure and controls subsidiary to South Korean parts maker Hanon Systems for $1.23b. The transaction is expected to be completed in the first quarter of 2019.
French oil and gas supplier Total has acquired EV charging startup G2mobility. As a part of the deal, Total has also entered into a partnership with cable company Nexans to develop EV infrastructure in France.
The automotive industry is still assessing the impact of Hurricane Florence.
Mitchell Plastics is expanding their Huntsville, Alabama plant by 130,000sf to add 12 new injection molding machines, an expanded assembly area, more shipping bays, and new offices. Construction begins next month and will be completed by July 2019.
Sunroof maker Webasto is investing $15.2m for a new production line at its Lexington, Kentucky plant. The expansion will also create 183 new jobs at the facility.
New battery maker Hyperbat is planning to invest $1.3m into a production plant that would make them the UK's largest independent vehicle battery manufacturer. The plant will begin operations by making batteries for Aston Martin's first EV, the Rapide E.
Volkswagen is reportedly planning to build a new plant "somewhere in North America" for producing EVs. While the automaker hasn't announced where the plant will be, it is said that the plant will come online by 2022.
BMW Says it is moving its annual maintenance shutdown period for its Oxford, England Mini plant to just after Brexit happens on April 1. A spokesperson said the move is to "...minimize the risk of any...supply disruption in the event of a no-deal Brexit.".
Jaguar Land Rover is cutting production at its Castle Bromwich, England plant to three days per week as it deals with Brexit and a drop in diesel demand.
The US Justice Dept. has reportedly started an investigation into Tesla CEO Elon Musk's statements from last month about taking the company private. Tels says that they are cooperating with the probe, but that they want it wrapped up quickly.
A new government-sponsored report suggest that Germany will have to delay its target of having 1 million electric vehicles on the road from 2020 to 2022.