The Presidio Group’s Jim Press and Brodie Cobb discuss today’s automotive landscape
Throughout the past year, we’ve seen The Presidio Group facilitate a number of large industry transactions. Their latest acquisition isn’t a company, but rather, a familiar face. After spending over 37 years with Toyota followed by executive roles with Chrysler, Cerberus Capital, and Renault/Nissan, Jim Press has now been named Strategic Advisor for The Presidio Group. Watch the complete segment here.
Toyota plans to build 800,000 vehicles in January, which would be an all-time record for the month. That number is 60,000 higher than January 2021’s output. Toyota predicts that it will lose 14,000 units of planned production this month. The automaker plans to build 9 million vehicles during the current fiscal year, which is down from 9.5 million cars in 2020 and 10.7 million in 2021. It’s still on track to be the world’s largest automaker in 2021.
Michigan legislators passed a $1.5 billion bill with state incentives to land major business expansions, including an EV battery factory that GM wants to build in the Lansing area. The House and Senate approved the bill on their last session day of 2021, featuring $1 billion for economic development incentives. The Lansing City Council approved local tax breaks for the proposed GM project, which could cost up to $2.5 billion and employ as many as 1,700 workers. Lawmakers also say Michigan could have 3 other big deals announced as soon as next month.
Half a dozen more women are suing Tesla, alleging “rampant” workplace sexual harassment at its Fremont, California plant and facilities. In six separate suits, women who worked in the factory or service center say their male co-workers frequently made comments about their bodies and clothing, some women alleging that they were moved from their workstations after reporting the behavior. The women also said they were consistently subjected to catcalling, unwanted advances, physical contact, and discrimination at work. Tesla did not respond to a request for comment.
News & Opinion:
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