Cars are the last big headache for Tata 9 Nov 2017 Newish group Chairman Natarajan Chandrasekaran has moved swiftly, tying up loose ends in steel and telecoms and reducing cross-shareholdings. The money-losing Indian unit of the $21 bln Tata Motors may be the toughest challenge. Even here, there are signs of a turnaround.
Chinese auto-trading IPO may prove to be a lemon 5 Nov 2017 Yixin is preparing a Hong Kong IPO. Connecting auto buyers, sellers and lenders is good business as China’s car market booms and millennials embrace debt. But a mooted value of up to $6.5 bln sounds over-revved. Even if the float goes well, the stock could later go into reverse.
Booming metal markets test mettle of memories 2 Nov 2017 The frenzy over electric cars is helping push copper, nickel and cobalt prices to their highest in years. An expected supply squeeze is also a factor. After frolicking in London this week, global miners get a shot to prove they've learned from cycles past and can use cash wisely.
Parts makers offer safer Auto 2.0 bets than Tesla 1 Nov 2017 Elon Musk’s outfit trades at an outlandish valuation on hopes it’ll lead the electric and autonomous car revolution. Yet it routinely misses targets and faces intense competition. Battery makers like LG Chem and Tesla partner Panasonic may pave a less volatile road to riches.
GM in fighting shape for autonomous tech battle 24 Oct 2017 Production cuts and surging post-hurricane vehicle sales are helping the $66 bln automaker right-size its U.S. business. The big test is yet to come, though. To sustain a surging stock price, CEO Mary Barra needs to deliver on ambitious goals for self-driving and electric cars.
Fiat Chrysler looks boxed in by M&A options 24 Oct 2017 Sergio Marchionne's revamp is picking up speed. But the carmaker is still worth little more than half the 40 bln euros at which the Agnelli family might consider a sale. That figure is beyond Chinese suitor Great Wall and a stretch for global peers. Fiat may be stuck where it is.
Tesla could hit second gear with Shanghai factory 22 Oct 2017 Elon Musk may soon be able to build his electric cars in China. That's essential for catching up or keeping pace with rivals in the fast-growing market. It'll also take pressure off production trouble in the United States. A troubling tariff problem, however, is apt to remain.
Daimler’s reform drive lacks horsepower 20 Oct 2017 Bumper third-quarter sales do little to address the Mercedes parent’s long-term problems, which include a margin-sapping global shift to electric vehicles. Plans to split in three would lift valuations if that led to a separate listing. But progress is at walking pace.
Lyft’s new $1 bln of cash spells gains over Uber 19 Oct 2017 The ride-hailing app has secured new funding led by Alphabet and a nearly 50 pct valuation increase. Its larger rival is struggling to regain momentum and is close to a down-round investment from SoftBank. Uber has the scale, but Lyft’s less aggressive approach is paying off.
China’s oil giants brace for electric car crash 9 Oct 2017 Beijing's move against gasoline means tough times ahead for the country's oil majors. The rapid push into new energy vehicles will curb demand for imported hydrocarbons, but at the expense of state giants like Sinopec and PetroChina. It might also pressure crude prices.
Viewsroom: Building the car for the future 5 Oct 2017 Ford boss Jim Hackett’s plan to catch up with rival GM on electric and self-driving vehicles starts with $14 bln of cost cuts. China may be in pole position as it considers banning gasoline cars entirely. But plenty of factors could delay mass adoption of new technology.
Uber board clears nearby jams, not entire route 4 Oct 2017 The ride-hailing app upped its governance star-rating, scrapping super-voting rights, expanding the board, and dropping internecine legal action. Directors also backed a SoftBank investment and set a 2019 IPO deadline. There’ll still be fights over control and valuation, though.
Ford’s clever electric van plan in China 4 Oct 2017 The U.S. carmaker is changing course in China, insiders told Reuters, as sales slow. New state policies open an opportunity for Ford to build electric commercial vehicles. That could help meet quotas - and electrify Ford SUVs. Much depends on the partner, and battery supply.
Ford CEO bets ambitious retool on big cost cuts 3 Oct 2017 Jim Hackett is slashing $14 bln of fat over five years and switching $7 bln of investment to SUVs from cars. That'd boost earnings, helping speed development of electric and autonomous vehicles. The plan will have to fire on all cylinders to catch up with the likes of BMW and GM.
Warren Buffett is wise to keep on truckin’ 3 Oct 2017 The Berkshire Hathaway boss has a soft spot for old-school businesses, even ones facing tech upheaval. His investment in truck-stop operator Pilot Flying J, with some $20 bln in revenue, fits the nostalgia bill. It'll be a long haul before electric and driverless rigs cruise by.
Ford is playing catch-up with General Motors 3 Oct 2017 GM’s stock hit a record high after the largest U.S. automaker detailed plans for robotaxis and 20 new electric cars. It raises the bar for Ford CEO Jim Hackett. His new strategy needs concrete goals, especially on driverless vehicles and cost controls, to protect its premium to GM.
Review: Ellen Pao cracked door for women in tech 29 Sep 2017 In "Reset," the venture capitalist recounts her decision to fight Kleiner Perkins in court over sexism, rather than settling. She lost, but several women have since publicly confronted the bro-culture of Silicon Valley at Uber, SoFi and beyond, yielding more promising results.
Lyft IPO would amplify Uber’s troubles 28 Sep 2017 The ride-hailing firm is readying to go public as early as next year, Reuters reports. It would be an opportunistic way to capitalize on its larger rival’s self-inflicted damage. Additional capital for the No. 2 U.S. player would merely compound the frontrunner’s injuries.
Electric vehicles lack killer spark – for now 27 Sep 2017 BHP reckons battery-powered cars are reaching a tipping point. Even vacuum maker Dyson is building one. And driverless vehicles could make EVs a huge money-spinner. High costs and concerns over raw-material supplies, though, will keep the combustion engine purring for years.
Uber finally seeks permission, not forgiveness 26 Sep 2017 Facing a ban in London, the ride-hailing app’s new CEO conceded mistakes. It’s a big shift for a company that famously takes few prisoners. Londoners may want Uber’s service but rules are mostly there for a reason. Compromise could be the Silicon Valley invader’s reboot strategy.