CBT automotive newscast: May 19, 2021

Featured Interview:

Tim Storey, acclaimed author and life coach, on how to overcome negative thinking and renew your mindset
Many are seeking out the help of a life coach after the past year of uncertainty, and even a year later, the future can still seem somewhat uncertain. On today’s show, we’re pleased to welcome in the guy that has the answers to many of the tough questions we are all asking. We’re pleased to welcome Tim Storey, speaker, life coach, and Acclaimed Author of Good Idea Or God Idea? It’s Time for Your Comeback, Utmost Living, and Comeback & Beyond, and his latest book which is sure to be a bestseller, The Miracle Mentality: Tap into the Source of Magical Transformation in Your Life. Read more

Top Headlines:

On Tuesday, Solera Holdings announced plans to acquire both fleet management platform Omnitracs and Dealersocket. Solera currently has operations in over 90 countries and has some of the most advanced software for vehicle lifecycle management. The acquisition of Omnitracs will provide Solera with a single platform for safety, productivity, and maintenance solutions for commercial fleets, and the acquisition of Dealersocket will allow for an integration of various workflow management softwares to be used for automotive customer relation management. Financial terms regarding the transactions were not disclosed, but the acquisition is set to be completed by the end of Q2 2021.

Automaker Stellantis and electronics manufacturer Foxconn have announced plans to collaborate on a joint venture to create more advanced in-car and connected-car technologies. The 50-50 partnership will be facilitated through a new Netherlands-based company called Mobile Drive that will develop new software for infotainment, 5G communications, telematics, and cloud-based technologies. Stellantis CEO Carlos Tevares announced that the joint venture will start before or during the beginning of 2022 and added the collaboration is a “must” for the company’s future strategic direction. While the venture was initially projected to be even larger and potentially include the manufacturing of vehicles, Fiat Chrysler announced last year it would be partnering with Foxconn’s parent company to build electric cars and internet-connected cars in China instead.

President Joe Biden was in Detroit yesterday to lay out his $174 billion electrification plan at the Ford Motor Company Electric Vehicle Center. Biden said that the Nation is at a great inflection and that, “What we do in the next four to ten years will determine where we are in the next 50.” Biden’s plan includes installing 500,000 charging stations, enhancing consumer incentives, subsidizing research and development of new technology, and more.

Lamborghini has announced plans for the full electrification of its lineup in the next few years, allocating $1.83 billion to a so-called hybrid transition. CEO Stephan Winkelmann stated that the last model with a combustion engine will be produced before the end of 2024 and the automaker will try to manufacture every model after that with 50% or lower emissions. He added this will be a “big challenge” for the company but stated the brand is planning on making hybrid models for the foreseeable future before transitioning to a fully electric model by 2030. Winkelmann also said that the upcoming vehicles will still focus on the “performance and authentic Lamborghini driving experience” and will not lose any of the “sound and fury” the current vehicles feature.

News & Opinion:

Auto industry leaders ruffle feathers with recent tweets
Elon Musk hasn’t particularly cared about tradition and has often upset those who have enjoyed the control they had on their business environment. Recently, MSNBC wrote, “Elon Musk’s tweets are moving markets — and some investors are worried.” The truth is, even the media are concerned because, unlike decades ago, they aren’t the only funnel of information and, as a result, can’t often ignore what the public wants to hear. Now, Elon, Jim Glickenhaus, Jim Farley and other auto industry executives, can take a few seconds to voice an opinion, just as he would if you were having coffee with him, but in this case, it goes to millions of people. And, borrowing from the old Merrill Lynch commercial tagline, “When Elon Musk Speaks, People Listen.” Read More

Sharp to supply infotainment screens for Fisker and why it matters
Their first vehicle, the Fisker Ocean SUV, is still some distance from launching, yet the in-vehicle experience is being elevated. Fisker is partnering with Sharp Corporation to develop class-leading infotainment screens for the Ocean, Project PEAR, and possibly two additional models that have not yet been announced. Sharp Corporation is part of the Hon Hai Technology Group, better known as Foxconn, who manufactures the iPhone for Apple. Foxconn agreed to build the Ocean SUV for Fisker in the US. The collaboration with Sharp isn’t a very far reach. However, the importance placed on a partnership for infotainment screens and components reveals how crucial in-vehicle tech is to the driver experience. Read more