Connect with us

Automotive

Ford Q2 results battered by pandemic

Avatar

Published

on


Fords Territory SUV BEV is now on the road in China and Ford says electrification will benefit all of Fords regional businesses

Ford’s Territory SUV BEV is now on the road in China and Ford says electrification will benefit all of Ford’s regional businesses

Ford managed to post a profit in the quarter ended 30 June, but that result was heavily skewed by Volkswagen’s $3.5bn investment in its self-driving Argo AI business unit.

Although Ford posted Q2 net income of $1.1bn, it also posted an adjusted EBIT of minus $1.9bn and warned that it expects to make a loss for the year given current economic conditions and assuming no further significant coronavirus-related disruptions to production or distribution. However, the results were better than analyst expectations.

Revenues for the quarter were severely dented by the impact of the pandemic and down 50% on last year at $19.4bn.

Ford also said it maintains a strong balance sheet, with more than $39 billion in cash at end of Q2. This week it said it repaid $7.7 billion against revolving credit lines.

“I could not be prouder of the Ford team’s optimism and effectiveness as we manage through this pandemic,” said Ford President and CEO Jim Hackett, who maintained that Ford had posted string results, given market conditions. “We delivered a strong Q2 while keeping each other safe, caring for customers and neighbours, and assuring tomorrow,” he said.

“Our global team is delivering great value for customers, performing strongly and advancing the business against extraordinary headwinds,” said Ford CFO Tim Stone. “You’re seeing us fix things that held us back in the past, accelerate in areas like commercial vehicles and SUVs, and set ourselves up for growth in connectivity, electrification and autonomous vehicles.”

Wholesale shipments, revenue and earnings before interest and taxes (EBIT) in Ford’s Automotive business were down in Q2 with virtually all of the company’s worldwide manufacturing suspended for much of the quarter. Improvements of roughly $1 billion each in net pricing and costs partially offset the effect of the shutdown on profitability.

In June, Ford and Volkswagen finalized agreements that expanded their global alliance, leveraging complementary strengths across an expected combined 8 million commercial and electric vehicles, and midsize pickup trucks.

Volkswagen also completed its investment in Argo AI, a company in which Ford already had an ownership interest. Ford and Volkswagen will work with Argo AI to independently develop AVs at scale based on Argo AI’s self-driving system (SDS). Ford says Argo AI’s SDS is the first with commercial deployment plans for both Europe and the US, and has the largest geographic potential of any autonomous driving technology to date. Reach and scale are important to developing a robust, cost-efficient SDS.

Ford also said it directed much of its capabilities and resolve in the second quarter to understanding and helping meet coronavirus-related needs of customers, dealers, suppliers, healthcare professionals and first responders, and patients and communities. Initiatives like enhanced and new online services and deferred financing payments on new vehicles in the US benefitted customers and Ford as commerce stalled, then began to recover.

Source: https://www.just-auto.com/news/ford-q2-results-battered-by-pandemic_id196971.aspx?utm_source=article-feed&utm_medium=rss-feed&utm_campaign=rss-feed

Automotive

See 2021 Cadillac Escalade Get Driven With Blocked Windshield

Avatar

Published

on

The 2021 Cadillac Escalade test units are out and about, and first drives have already been orchestrated. A handful of journalists and YouTubers have started pouring out content about the full-size luxury SUV. That includes us with our Escalade First Drive Review.

The Fast Lane, however, took a different route and made videos that are out of the ordinary. We’ve seen the channel do some off-roading with the Escalade, something owners won’t probably do when they get their hands on one.

This time, The Fast Lane Truck does a review with the Escalade’s bevy of tech toys. And as crazy as you would expect from the channel, the folks there tried to drive the SUV with a blocked windshield and front windows. How? By using the Escalade’s VR function displayed on the instrument panel. The resulting video was bonkers, which you can watch on top of this page.

Speaking of, the driver was able to go around the course without issues, twice even, and you can see in the video that he even reached speeds of up to 60 miles per hour (97 kilometers per hour) before coming to a halt.

Before you raise your pitchforks, let us all be reminded that TFL Trucks did the test on a close course, so the test looked safe. Although as expected, both the driver and his passenger felt queasy after the virtual drive. But overall, at least now we know that you can still drive the new Escalade even if your windshield got broken – so as long as the front camera’s intact.

See the full crazy test on video and let us know what you think through the comments section below.

Source: https://www.motor1.com/news/450745/2021-cadillac-escalade-camera-test/?utm_source=RSS&utm_medium=referral&utm_campaign=RSS-category-technology

Continue Reading

Automotive

Fancy Acer Book RS By Porsche Design Comes With Carbon Fiber Cover

Avatar

Published

on

Porsche RS models are revered for their performance both on and off the race track, as they are admired for their flurry of carbon fiber materials. Porsche Design is back with another collaboration to showcase its styling prowess – this time it’s with Acer and its latest laptop.

Named the Porsche Design Acer Book RS, this fancy laptop signifies a new partnership between the two brands, something that fuses Porsche Design’s functional design philosophy and engineering mindset with Acer’s technological innovations and deep-rooted knowledge in the global computer segment.

The high-end notebook comes with a minimalist design, but a closer inspection reveals a 3k carbon fiber cover, striking a contrast against the diamond-cut CNC-machined chassis. With the use of this lightweight material normally used for race cars, the entire Acer Book RS only weighs 2.76 pounds (1.25 kilograms) while only measuring 0.63 inches (15.99 millimeters) thin.

Underneath the classy body, the Porsche Design Acer Book RS is equipped with the latest 11th Gen Intel Core i7 processors with Intel Iris Xe graphics and optional discrete NVIDIA GeForce®MX350 GPUs and 16 GB of RAM. The 14-inch FHD IPS3 touchscreen is covered with a layer of Antimicrobial4 Corning Gorilla Glass with an immersive 90% screen-to-body ratio.

The Porsche Design Acer Book RS will be available in North America with a starting price of $1,399.99. A premium package, which comes with equally great-looking accessories such as premium package i7 notebook, travel pack, and mouse, will be priced at $1,999.99. This chic Acer laptop will also be available in Europe and in China.

This isn’t the first time that Porsche designed a gadget. Back in 2018, a Porsche Design Huawei Mate RS came into fruition, which had a price tag that started at $1,800.

Source: https://www.motor1.com/news/450660/porsche-design-acer-book-rs/?utm_source=RSS&utm_medium=referral&utm_campaign=RSS-category-technology

Continue Reading

Automotive

GMC Hummer EV’s WTF Mode Does A Weird Song And Dance Before Launching

Avatar

Published

on

First thing’s first. What the heck is Watts to Freedom? In short, it’s the GMC Hummer EV version of Tesla’s Ludicrous Plus launch mode, both in function and in its gimmicky nature. What does that mean? Ludicrous refers to Ludicrous speed from the classic 1987 Sci-Fi spoof Spaceballs. Meanwhile, the acronym for GMC’s Watts To Freedom is WTF, and we’re sure you know what else that stands for. But wait, there’s more

Engage WTF mode in the recently revealed GMC Hummer EV, and you won’t just launch to 60 mph in three seconds. For starters, the truck will hunker down a couple of inches before putting its GM-estimated 1,000 horsepower (735 kilowatts) to the ground. That’s a functional component of going fast, but less functional are the sounds that emanate from the Hummer EV’s speakers and animations that pop up on its digital screens.

Watts To Freedom Screenshot

GMC doesn’t offer a specific description of what this means, but the B-roll footage below takes us through the process starting at the 28-second mark. Once activated, a low-pitch humming sound reverberates through the speakers, and a snazzy animation on the main screen morphs to a third-person view of a Hummer EV poised on a space-themed runway. Meanwhile, the dash displays “Watts To Freedom” with stars and bars, along with a message that advises “repeated usage will cause accelerated wear on vehicle.” The driver can choose cancel or let’s go, which isn’t quite as catchy as I want my mommy or bring it on but hey, you get the point.

Selecting let’s go puts the system into motion. The truck lowers (which is also shown on the instrument display) and the driver is eventually prompted to press the brake and accelerator. This is the interactive part, as the driver must brake hard enough to get the all-important green checkmark to then floor it, all while the sound increases in both intensity and annoyance.

With the pedals mashed and the Hummer EV ready, release the brake and it’s off to the races. Presumably, drivers will be concentrating on the road while sprinting to 60 mph, so they won’t see the mini starfield flashing on the digital instrument board next to the speed readout. However, everyone will hear what sounds like the USS Enterprise going to warp speed through the speakers. At least it’s more pleasant than the low-resonance buzzing that starts it all off.

Is the GMC Hummer EV fast? Yes, it certainly is. However, experiencing all the pomp and circumstance that’s not at all similar to Tesla’s various quirky Easter eggs could easily be considered gimmicky in the best of circumstances. We’re at least curious to try it all in person as opposed to seeing a close-up on a video, but we suspect these aspects of WTF Mode might have more than a few people asking WTF GMC was thinking with all this.

Source: https://www.motor1.com/news/450196/hummer-ev-wtf-sound-animation-launch/?utm_source=RSS&utm_medium=referral&utm_campaign=RSS-category-technology

Continue Reading
Blockchain8 hours ago

TRAMS DEX Propels Global Adoption of DeFi with Automated Market Maker (AMM) protocol

Press Releases9 hours ago

Bixin Ventures Announces $100M Proprietary Capital Fund to Support Global Blockchain Ecosystem

Press Releases9 hours ago

SHANGHAI, Oct 26, 2020 – (ACN Newswire)

Start Ups10 hours ago

CB Insights: Trends, Insights & Startups from The Fintech 250

Press Releases10 hours ago

Valarhash Launches New Service Series for its Mining Hosting Operations

zephyrnet10 hours ago

Trends, Insights & Startups from The Fintech 250

Cannabis15 hours ago

Current Research on Effect Specific Uses of Cannabis

Covid1916 hours ago

How Telemedicine Can Help Keep Your Health on Track

Start Ups16 hours ago

Website Packages – Good or Evil?

Blockchain17 hours ago

Self-Sovereign Decentralized Digital Identity

Cyber Security23 hours ago

Best Moon Lamp Reviews and Buying Guide

Cyber Security1 day ago

Guilford Technical Community College Continues to Investigate a Ransomware Cyberattack

Cyber Security1 day ago

IOTW: Will There Be An Incident Of Impact On Tuesday’s Election?

Blockchain News1 day ago

Mastercard and GrainChain Bring Blockchain Provenance to Commodity Supply Chain in Americas

AR/VR1 day ago

Win a Copy of Affected: The Manor for Oculus Quest

AR/VR1 day ago

The Steam Halloween Sale has Begun With Themed Activities and Updates

AR/VR2 days ago

Warhammer Age of Sigmar: Tempestfall Announced for PC VR & Oculus Quest, Arrives 2021

Crowdfunding2 days ago

I Dare You to Ignore This Trend

Blockchain News2 days ago

Bitcoin Price Flashes $750M Warning Sign As 60,000 BTC Options Set To Expire

AR/VR2 days ago

Star Wars: Tales from the Galaxy’s Edge to Include VR Short ‘Temple of Darkness’

Blockchain News2 days ago

Bitcoin Suffers Mild Drop but Analyst Who Predicted Decoupling Expects BTC Price to See Bullish Uptrend

Blockchain News2 days ago

AMD Purchases Xilinx in All-Stock Transaction to Develop Mining Devices

Cyber Security2 days ago

Newly Launched Cybersecurity Company Stairwell

AI2 days ago

How 5G Will Impact Customer Experience?

AR/VR2 days ago

You can now Request the PlayStation VR Camera Adaptor for PS5

Blockchain News2 days ago

HSBC and Wave Facilitate Blockchain-Powered Trade Between New Zealand and China

Blockchain News2 days ago

Aave Makes History as Core Developers Transfer Governance to Token Holders

Blockchain News2 days ago

Caitlin Long’s Avanti Becomes the Second Crypto Bank in the US, Open for Commercial Clients in Early 2021

Blockchain News2 days ago

KPMG Partners with Coin Metrics to Boost Institutional Crypto Adoption

Blockchain News2 days ago

US SEC Executive Who said Ethereum is Not a Security to Leave the Agency

Blockchain News2 days ago

MicroStrategy Plans to Purchase Additional Bitcoin Reserves With Excess Cash

Covid192 days ago

How followers on Instagram can help to navigate your brand during a pandemic

Cyber Security2 days ago

StackRox Announced the Release of KubeLinter to Identify Misconfigurations in Kubernetes

Cyber Security2 days ago

How Was 2020 Cyber Security Awareness Month?

Ecommerce2 days ago

Masks and More Outlet Donates Face Masks For Children In Local…

Ecommerce2 days ago

Clicks Overtake Bricks: PrizeLogic & SmartCommerce Bring Shoppable…

Ecommerce2 days ago

Footwear Sales in the U.S. Expected to Stabilize and Bounce Back…

Ecommerce2 days ago

Celerant Technology® Expands NILS™ Integration Enabling Retailers…

Ecommerce2 days ago

The COVID-19 Pandemic Causes Eating Patterns in America to Take a…

Ecommerce2 days ago

MyJane Collaborates with Hedger Humor to Bring Wellness and Laughter…

Trending