New York’s Vision Automotive Group has sold 10 dealerships to Atlantic Coast Automotive Inc., according to the Rochester Business Journal and a person informed of the transaction.

Atlantic Coast Automotive of Miami Lakes, Fla., bought three Hyundai stores, three Nissan stores, two Kia dealerships, one Chrysler-Dodge-Jeep-Ram store and one Buick-GMC store. Dealerships are in Rochester, East Rochester, Webster and Canandaigua. These cities are part of Greater Rochester in upstate New York.

The agreement marks Atlantic Coast’s second dealership acquisition in the state this year. In May, he purchased six dealerships in upstate New York from Nye Automotive Group.

The bulk of the Atlantic Coast-Vision Automotive transaction took place in mid-September, according to the person. September 30 Rochester Business Journal The article indicates that title deeds for stores in Monroe County were filed that day and September 29 for Ontario County dealerships.

The story, citing public records, said the purchase price for the property tied to the deal was $21.3 million, but it did not say whether $1.3 million paid for another property in Rochester were included in this total.

A Kia America spokesperson confirmed Automotive News that the two Vision Kia dealerships have changed hands, although he did not provide further details.

The Rochester Business Journal reported that Vision Automotive was owned by Daniel Edwards.

Atlantic Coast’s Ali Ahmed and Vision Automotive management did not return multiple messages seeking comment.

The person familiar with the transaction said each of the dealerships will continue to operate under the Vision name.

WILMINGTON, Delaware — Elon Musk said he was completely focused on Tesla Inc. in 2017, when the electric carmaker was in “crisis”, in testimony Wednesday to refute claims that its $55 billion salary package was based on easy performance goals and approved by a board of directors compliant administration.

Tesla shareholder Richard Tornetta sued Musk and the board in 2018 and hopes to prove that Musk used his dominance over Tesla’s board to dictate the terms of the package, which didn’t bind him. not to work at Tesla full time.

Musk, the world’s richest person, in a Delaware courtroom described how the automaker was struggling to survive in 2017 when the salary package was developed.

“I was completely focused on running the business,” Musk said when asked about Tesla by his attorney Evan Chesler, adding that he didn’t dictate the terms of the compensation plan.

He said he wouldn’t accept a compensation plan that required him to punch a clock or put in certain hours at Tesla. “I work pretty much all the time,” he said. “I don’t know what a punch clock would accomplish.”

The five-day trial before Chancellor Kathaleen McCormick comes as Musk struggles to oversee a chaotic redesign of Twitterthe social media platform he was forced to buy for $44 billion in a separate legal battle before the same judge after he tried to pull out of that deal.

Musk, who arrived in a black Tesla and was ushered into the courtroom through a separate entrance for security reasons, finished his testimony on Wednesday in just under three hours. He was followed at the helm by Antonio Gracias, a member of Tesla’s board of directors from 2007 to 2021.

The billionaire testified that he is focusing his attention where it is most needed, namely Tesla in 2017.

“So in times of crisis, the allocation changes to where the crisis is,” Musk said.

Musk has a history of combative testimony and often seems dismissive of lawyers who ask probing questions. In previous trials, he called opposing attorneys “reprehensible”, questioned their happiness and accused them of “extortion”.

Musk was more restrained in Wednesday’s proceedings, although he chafed at probing questions.

At one point, Musk told the plaintiff’s attorney, “Your question is a complex question that is commonly used to mislead people.”

Musk acknowledged that he was not a lawyer, but added “when you have enough trials, you learn certain things.”

Some big strategic decisions, however, have to be made at the top of the house, like where to make the vehicles and who supplies the batteries. The most important ones for me right now are timing and pricing.

The company is set to officially begin production of the Ocean on Thursday, November 17, as planned for over a year. That should give the company some credibility unlike Elon Musk’s track record at Tesla, where he repeatedly announced plans that didn’t happen when he said they would – or sometimes not at all – although it has generally worked out fabulously for him.

Still, that production start doesn’t mean the first of the Ocean’s more than 60,000 reservation holders will get their car in 2022: global sales approval is still weeks or months away.

I found it curious that the car is going into production with many key features coming later. Cruise control, for example, is a pretty basic offering that won’t be ready at launch. Other high-end features also won’t be released immediately, such as its Power Bank package for vehicle-to-home and vehicle-to-vehicle charging, which is expected to roll out in 2023 and 24, according to documents provided to reporters. here.

One factor, of course, is the need for these systems to function perfectly so as not to endanger drivers, passengers or neighbours. More strategically, Henrik Fisker explained, prioritizes outstanding features that would compel a purchase. (He’s not a big fan of cruise control himself.)

The world’s consumers, he argues, aren’t crying out for another car that does what all cars do. Its aim is to provide features you can’t find anywhere else: best-in-class battery life, 17.1-inch rotating screen, solar roof that helps charge the battery, plus dog windows in the back and the taco trays for the front passengers.

Another difficult decision: pricing.

It’s no secret that inflation is plaguing not just the US economy but the whole world – and perhaps nowhere more than in Europe, where war has made energy scarce and the dollar parity – euro made imports more expensive.

And the electric vehicle boom has sent the prices of key battery minerals skyrocketing – with years to come before new mining, processing and manufacturing can be ramped up.

Tesla raised prices. Ford has raised EV prices. Rivian raised prices – then quickly reversed the trend.

Henrik Fisker said he had promised customers to hold the line on prices until at least the first 40,000 vehicles produced – a threshold the company expects to exceed in the second half of next year. Geeta Fisker pointed out that the company has good cost control and hasn’t planned any lossy models – underpriced products that lose money in order to attract customer interest.

Including the money raised in the third quarter which essentially covered cash used in operations and investments, executives are confident they can successfully launch the first launch, find their footing in the market and earn enough to get through the introduction of his second project. model, pear, and beyond.

The MG4 electric compact sedan is a competent car but in one area it is revolutionary: its price.

Deliveries have already started in Europe for the China-built model, which MG expects to be its bestseller next year in the UK, the brand’s biggest market in the region.

In Germany, the entry-level MG4 with a 51-kilowatt-hour battery and a range of 350 km (218 miles) starts at 28,240 euros ($28,220).

In contrast, the Volkswagen ID3, the car on which the MG4 was compared, starts at 38,060 euros for the current base variant with a 58 kWh battery and a range of 426 km (an entry version with a 45 kWh has been promised but is not yet on sale).

As for the Peugeot e-208, smaller than the MG4, it starts at 35,350 euros in Germany for its basic version with a 50 kWh battery and 362 km of autonomy.

So how can the MG4 be sold for 7,000 to almost 10,000 euros less than its direct competitors? A key issue to address is the profit margin. Is MG ready to lose money to gain market share during its growth phase?

The SAIC-owned brand said that was not the case. He claims he is making a profit at this price, although he is clearly looking for market share at a time when his rivals are more limited in supply.

“We are valuing to get a margin that we are comfortable with and that gives us enough traction to hit sales targets,” UK commercial director Guy Pigounakis said. Automotive News Europe.

Assuming MG and SAIC aren’t selling at a loss to increase share, one of the keys to keeping the price down is the battery. The 51 kWh pack and the larger 62 kWh version use lithium iron phosphate (LFP) batteries supplied by CATL.

This provides a cost advantage over competitors who use the more expensive Nickel-Manganese-Cobalt (NMC) battery chemistry.

A recent teardown of CATL’s LFP battery usage in Shanghai-built versions of the Tesla Model 3 overseen by UBS bank analysts found the CATL solution to be the world leader in battery costs of $131 per kWh , ahead of BYD’s Blade LFP battery at $134 per kWh.

UBS has calculated that the use of the LFP allows a saving of 9% compared to an NMC cell.

MG has also cut costs by eliminating a layer of packaging by rolling out a form of battery manufacturing called cell-to-pack. The technique reduces costs and minimizes layer thickness to just 110mm. That’s thinner than VW’s claimed 140mm thickness for its electric MEB platform.

Modular platform

The MG4 is the first SAIC model to use the company’s new Modular Scalable Platform (MSP) which it says will underpin a range of models, in the same way that MEB already underpins several of the group’s electric cars. VW.

MG highlights the cost savings that a common platform brings, compared to current EV models. For example, the ZS EV small SUV is built on a converted combustion engine platform and is now mainly sold in Europe, with sales in China declining.

“The MG4 is a global car, which brings us huge economies of scale,” said Pigounakis.

DETROIT — Ford Motor Co. expands its line of vans with a variant aimed at adventure and lifestyle customers looking for alternatives to recreational vehicles and motorhomes.

The 2023 Transit Trail, which is expected to go on sale this spring, will replace the current Transit’s Adventure Package and starts at $67,770, including $1,797 shipping.

The van rides 3.5 inches higher than a Standard transit and has a wider track of 2.75 inches. It is powered by a 3.5-liter V6 engine that is expected to generate 310 hp and 400 lb-ft of torque.

Ford hopes to capitalize on the popularity of outdoor recreation and offer customers who live or spend a lot of time in their pickup truck what the company calls the “perfect blank canvas.” The automaker plans to split an undisclosed number of vehicles between retail buyers and commercial installers.

“Our decades of experience in the RV industry and insights from the van-life community have helped us design a vehicle that makes it easier for adventurers to start their next journey,” said Ford CEO Pro, Ted Cannis, in a statement.

Ford Pro general manager Tim Baughman said he expects a “substantial percentage” of Transit Trail customers to be DIY enthusiasts who customize the van with various parts and accessories.

With this in mind, Ford has positioned drillable areas throughout the interior for cabinets, shelves and beds. Ford also added a top shelf and roof vent in response to customer feedback. The high-roof, extended-length configuration offers 487 cubic feet of cargo space.

The Transit Trail features an intelligent all-wheel-drive system with multiple drive modes, adaptive cruise control and the Sync 4 infotainment system. Ford will offer a heavy-duty trailer package with a towing capacity of 6 500 pounds.

Ford also plans to offer an optional 31-gallon tank as an upgrade to the standard 24-gallon tank.

The van can have multiple commercial applications for businesses such as forestry services or others that need more off-road capable vehicles. Baughman said the minivan will initially focus on adventure and lifestyle buyers.

Electric vehicles and some hybrids could help sustain the grid during a natural disaster.

A deadly cold snap that hit Texas in 2021 left more than 4.5 million homes and businesses without power for days. A handful of owners of Ford F-150 hybrid pickup trucks with the PowerBoost feature used the truck’s on-board generator to power their homes for several days.

The all-electric version of the F-150 is available with a smart backup power feature that allows two-way charging to power a suburban home or small business. The feature is standard on more expensive models with extended battery life and costs $500 as an over-the-air software upgrade on other models.

Ford’s $1,310 Charge Station Pro home charging station, which comes standard with the extended-range battery, is required. It acts as an interface when the truck is plugged in and sends power from its battery to a home. A $3,895 home integration system is also required, jointly developed by Ford and its preferred installation partner Sunrun.

Bi-directional flow enables vehicle-to-grid capability, allowing an electric vehicle to send excess power back to the electrical grid.

Kontou said she expects vehicle-to-grid technologies to grow with the adoption of electric vehicles.

“People understand that electric vehicles are more than just cars and trucks,” Cullen said. “It’s also the charging systems, the storage, the network and how they serve and reinforce each other.”

The grid vehicle is also being tested with larger electric vehicles, including electric school buses.

“A lot of people focus on electric school buses because they have a big battery, and for most of the day they just sit there,” Stainken said.

Last year, Michigan’s DTE Energy piloted six electric buses in two school districts to test vehicle-to-grid applications. Dominion Energy of Richmond, Va., plans to deploy more than 1,000 electric school buses in Virginia by 2025 for the same purpose.

Other large utility vehicles, including semi-tractors and garbage trucks, are becoming electrified, said Rick Kozole, the Detroit-based automotive and industrial group leader at consulting firm Alvarez & Marsal.

“We can use these batteries for power after a natural disaster,” he said.

The Tesla Cyberquad for Kids is being recalled for a safety violation, and buyers of the $1,900 electric all-terrain vehicle — modeled after the Tesla Cybertruck design — can receive a full refund, the states Consumer Product Safety Commission announced Thursday. -United.

The Cyberquad for Kids was manufactured by Radio Flyer and sold exclusively online by Tesla. The link to the Cyberquad in Tesla’s online store is no longer active. Tesla, which has disbanded its press office, did not respond to an email request for comment.

“Radio Flyer received a report of an incident where the single-pilot Cyberquad flipped over while being driven by an eight-year-old child and a 36-year-old adult woman, resulting in a contusion of the left shoulder of the adult woman,” the CPSC said in the recall notice.

Radio Flyer stated in its recall notice that “Tesla has consulted with Radio Flyer regarding the general appearance of this product” and that “Tesla supports the Radio Flyer recall”.

The Chinese-made Cyberquad went on sale late last year and was aimed at children aged 8 to 12. The CPSC said approximately 5,000 Cyberquads have been sold and all buyers are eligible for a full refund once they permanently disable the vehicle by removing the motor controller, which must be returned to Radio Flyer.

Radio Flyer continues to sell an electric toy replica of the Tesla Model S on its website for $599.99.

But the Cyberquad is much more capable, and adults have been posting videos on social media about the ATV, of which Tesla plans to make a full-size adult version that can fit in the bed of the next Cybertruck pickup.

The Electrek website said in its February review of the Cyberquad for Kids: “This thing is theoretically designed for children, but don’t confuse it with a weak 12V Powerwheels ride-on toy. The Tesla Cyberquad for Kids, which was co -developed by Radio Flyer and Tesla, has real power.”

The ATV has a top speed of 10 mph and is rated to travel around 15 miles on a full charge of its lithium-ion battery, according to its technical specifications.

But the CPSC said the power came without the necessary security measures.

“The Cyberquad does not meet the requirements of the Federal Mandatory Safety Standard for Youth ATVs, including mechanical suspension and maximum tire pressure,” the CPSC said in the recall notice.

“Cyberquad does not have a CPSC-approved ATV Action Plan, which is required to manufacture, import, sell or distribute ATVs,” the agency said.

Radio Flyer acknowledged on its website that the Cyberquad is considered an ATV under federal law and that “the Cyberquad for Kids is not safe to use as a youth ATV”.

Radio Flyer is offering an extra $50 to consumers who discard the entire ATV in addition to returning the motor controller.

People who purchased the Cyberquad used will also be eligible for the recall.

Mullen Automotive has hired former General Motors executive John Schwegman as the electric vehicle maker’s chief commercial officer.

Schwegman spent 35 years at GM in a variety of marketing-related roles, most recently senior director of global marketing for Chevrolet products, according to his LinkedIn profile.

Mullen, of Brea, Calif., said Schwegman will primarily focus on growing the Class 1-6 electric light- and medium-duty truck segment, including the yet-to-launch Class 1 and 2 Mullen One. .

Schwegman’s experience selling fleet vehicles, particularly when he was GM’s commercial product director in the 2010s, provides a wealth of experience for the job. Schwegman was a key player in GM’s attempt to compete with Ford in the commercial fleet market.

“John has considerable experience selling commercial automobiles, which makes him a highly strategic addition to Mullen,” David Michery, CEO of Mullen Automotive, said in a statement.

Last month, Mullen acquired a majority stake in fellow electric vehicle maker Bollinger Motors, of Oak Park, Michigan, for $148 million – part of a bid to bring together struggling startups from the Detroit area to enter a crowded electric vehicle market.

The purchase brought Bollinger’s recently announced Class 4 Chassis Cab, the B4, into Mullen’s fold. Bollinger has been plagued with issues since its launch in 2015, especially around release windows. The automaker’s B1 SUV and B2 pickups were postponed indefinitely last January.

Mullen acquired all of the assets of Electric Last Mile Solutions Inc., of Troy, Mich. — another struggling electric fleet startup — last week. Mullen made an offer on the bankrupt company in September for “nearly $100 million in total consideration.”

Schwegman said in a statement that he is looking forward to his new role.

“I was impressed with Mullen’s strategic approach, including Mullen’s portfolio, factories and speed to market,” Schwegman said. “Mullen’s strategy, combined with my experience in commercial vehicles and strong fleet and dealer relationships, will allow us to build a highly competitive commercial electric vehicle story.”

Despite buying financially forged startups, Mullen has faced plenty of financial troubles himself, with his stock plummeting more than 93% in the past year. The automaker’s stock price is 50 cents.

PARIS — Renault said group sales reached 9.8 billion euros ($9.57 billion) in the third quarter as price increases helped the automaker generate revenue growth despite a decline car sales compared to the previous year.

The group’s overall revenue rose 20.5% after adjusting for the sale of its former Russian unit AvtoVAZ, the company said in a statement on Friday.

Renault added that it recorded its best price effect even as quarterly vehicle sales fell 2.4% to 481,000 from a year ago.

The revenue growth reflects the automaker’s focus on improving pricing policy, optimizing trade discounts and prioritizing the most profitable channels, Chief Financial Officer Thierry Piéton said in the statement.

Renault also confirmed its outlook for the full year, including an operating margin target above 5%, compared to 3.6% in 2021, and automotive operating free cash flow above 1.5 billion euros.

The automaker enters the final quarter of the year with major challenges ahead as it finalizes plans to split its combustion engine and electric vehicle businesses into two separate units amid tense talks to reshape its strategic partnership with Nissan.

Renault is Nissan’s largest shareholder with 43% while the Japanese manufacturer owns 15% of its partner.

The two companies said last week they were in talks on a new phase of their partnership which could include Nissan’s investment in Renault’s new electric vehicle business.

Such a change could mean the biggest reset in their relationship since the 2018 arrest of longtime chief executive Carlos Ghosn. Talks so far have considered Renault selling part of its stake in Nissan, sources told Reuters.

The automaker is due to hold an investor presentation on Nov. 8.

The Ridgeville plant, which opened four years ago and is still underutilized, currently builds only one vehicle: the Volvo S60 low-volume sedan. At the end of next year, he will start assembling the large EX90 crossover.

Supplying most of the world from a single plant will improve economies of scale, said Sam Fiorani, vice president of AutoForecast Solutions.

“Volvo needs to increase production above 80% of its capacity in Charleston to make production profitable,” Fiorani said. “Adding the Volvo EX90 alone will not be enough.”

US sourcing will give Polestar a competitive geopolitical advantage. By producing the crossover in America, Polestar will avoid a Chinese import tariff of around 25%, which would have bumped its starting price above $100,000.

Domestic production also allows for more manageable logistics.

The United States will be the midsize Polestar 3’s biggest market, accounting for a third of its sales. According to the Automotive News Research & Data Center, premium midsize crossovers made up the largest premium crossover segment in the United States in the first nine months of this year, with nearly 100,000 more sales than premium compact trucks.

China will consume a quarter of the world’s production, and the rest will go to various markets across Europe, the Middle East and Africa.

Up to 70% of the vehicle’s supply chain is already in operation in the Americas, Nobelius said. Suppliers include Brembo for braking, Luminar for lidar sensors and Nvidia for central computing.

Investing in two supply chains, one in China and one in the Americas, the COO said, creates “robustness” in the supply lines and allows Polestar to “flex volumes a bit”.

Volvo’s location on the east coast and proximity to major ports make it ideal for supplying European markets.

Polestar’s U.S. chief Gregor Hembrough said localized manufacturing will allow faster deliveries to customers.

Hypothetically, he said, “with local production, we don’t lose the eight to 10 weeks the car is on the water” shipped from China.