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Lucid Motors adds former Waymo Treasurer as CFO as company prepares to go public

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Lucid Motors has announced that it has appointed former Waymo Treasurer and Head of Investor Relations Sherry House as its Chief Financial Officer ahead of the automaker’s decision to become a publicly-traded company. Along with the addition of House to the Lucid executive team, the company has added several other new executives who will contribute key insights to the automaker’s financial, technological, and strategic plans as it prepares for the first deliveries of the Lucid Air sedan.

Sherry House: Lucid Motors’ new Chief Executive Officer

Sherry House has officially joined the company on May 5th, leaving her post as Waymo’s Treasurer and Head of Investor Relations after nearly four years. During House’s time at Waymo, the University of Michigan grad built and led a team that handled the company’s financial health and investment plans. Her LinkedIn page says she also led all funding and financing initiatives and managed investor communications to promote growth. House’s expertise with both large Fortune 500 companies and small, emerging startups makes her an ideal candidate for the position of Lucid’s CFO. Lucid CEO and CTO Peter Rawlinson is excited about his company’s new addition.

Sherry House leaves her post as Waymo’s Treasurer and Head of Investor Relations to join Lucid Motors as the company’s Chief Financial Officer.

“We are delighted to have Sherry join us. Her rare combination of financial and technical experience bolsters our core leadership team in a pivotal year for Lucid as we prepare to transition to a publicly traded company and launch the Lucid Air,” Rawlinson said. “We stand on the cusp of delivering the world’s most advanced electric vehicles, and now with the arrival of Sherry, augmented by the ongoing, invaluable contribution of our Vice President of Finance, Mike Smuts, we continue to build out what I believe to be the EV industry’s strongest leadership team.”

Other New Additions: Margaret Burgraff, Sanjay Chandra, and Jeff Curry

Lucid is making several other additions to its executive team in preparation for the Air’s launch in a few months. Along with House, the company added Margaret Burgraff as the Vice President of Software Validation, Sanjay Chandra as Vice President of Information Technology, and Jeff Curry as Vice President of Marketing and Communications. The additions are critical in Lucid’s eventual introduction as a public company where investors can openly buy and sell shares. In an emerging market of competitive electric vehicle companies, Lucid is preparing to cater to investors in any way possible. It starts with surrounding an already impressive team of executives with more seasoned veterans who come from the automotive and technology sectors.

Margaret Burgraff is joining Lucid with the title of VP of Software Validation. After 25 years in the industry with companies such as Apple and Intel, where she most recently served as VP of Global Developer Relations, Burgraff was responsible for co-engineering and enabling global independent software vendors to work best with Intel’s product portfolio. Additionally, she has presented to large, global audiences that include topics like Artificial Intelligence, data, and female empowerment.

Sanjay Chara will become Lucid’s first-ever VP of Information Technology. His career has culminated with over 20 years of experience with large companies like Workday, PayPal, and Virgin Mobile. His most recent role was CIO and Head of Cloud Operations at TiVo/Xperi, a position he held for over eight years. He was responsible for cloud operations, infrastructure, and eCommerce, resulting in “explosive business growth and customer expansion.

Finally, Lucid brings on Jeff Curry to take the role of VP of Marketing and Communications. After serving as a successful member of several iconic brands and high-tech startups, such as SiriusXM, Saab, Audi of America, Ferrari North America, and Jaguar, Curry’s most notable work has been in large, well-known events like the Super Bowl. Curry joined Lucid after leaving Jaguar but led the e-mobility campaign strategy for Audi. He joined Lucid’s team as a consultant in December 2019 but now has gained a permanent position as the automaker’s VP of Marketing and Communications.

Lucid Motors adds former Waymo Treasurer as CFO as company prepares to go public

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Source: https://www.teslarati.com/lucid-motors-sherry-house-cfo-ipo/

Automotive

Ford Power-Up Launches To Give Models Over-The-Air Software Updates

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Ford Power-Up is the brand’s newly announced name for its over-the-air software updates. One major implementation of this tech is the introduction of voice-controlled Amazon Alexa that can even control your smart home devices from the vehicle.

The Ford F-150 and Mustang Mach-E with the Sync 4 infotainment system already support Power-Up. The Bronco is the next to get the tech, and the Escape and Super Duty receive the functionality this fall. Ford will make 33 million vehicles with Power-Up capability by 2028.

Upcoming over-the-air updates for the F-150 and Mach-E will include improvements to the navigation system to add destination suggestions and conversational voice command recognition. Plus, the Apple CarPlay system will be able to show turn-by-turn navigation on the instrument cluster.

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Soon, the Mach-E gets an app called Sketch (example above) for its infotainment system. It lets owners draw pictures with their fingers on the screen. It could be a fun way to spend the time while waiting for the EV to charge.

The improved Amazon Alexa capability lets simply speak commands for controlling both the vehicle and other Alexa-enabled devices. Users get three years of free functionality. Afterward, owners have to purchase a subscription to retain the features. Ford isn’t yet disclosing the cost after the initial period.

Power-Up goes far beyond just improving the infotainment software because the Blue Oval can send upgrades to over 110 vehicle modules. The company says it can tweak any of them as long as the change doesn’t require hardware changes. When there’s an upgrade, the installation is generally seamless. In cases where the installation takes longer, owners can schedule a time, like overnight when they aren’t using the vehicle.

As an example, Ford used connected vehicle data to identify an issue with the F-150’s zone lighting. The engineers are also working on an update to fix a problem with the Android Auto connectivity in the F-150 and Mach-E. 

If you want to know more about Power-Up, listen to Motor1.com’s podcast Rambling About Cars tomorrow where we interview Ford Director of Retail Operations Kate Pearce about the tech.

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Source: https://www.motor1.com/news/507133/ford-power-up-software-updates/?utm_source=RSS&utm_medium=referral&utm_campaign=RSS-category-technology

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Tesla’s Heavy Trucking executive sells $6M+ in stocks

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Tesla’s President of Heavy Trucking Jerome M. Guillen sold over $6 million worth of TSLA stock earlier this week, according to a SEC Form 4 filing. Based on Guillen’s recent Form 4 submission, transactions occurred under transaction code M and code S.

Code M means to exercise or the conversion of derivative security receives from the company, like an option. Transaction code S means the sale of securities on an exchange or to another person. 

Based on the Form 4 filing, the Tesla executive acquired 10,000 stock for the price of $55.32, exercising his options under transaction code M. Under transaction code S, Tesla’s President of Heavy Trucking also disposed of 10,000 stocks at market value, ranging from $628.46 to $664.77. Guillen recently sold TSLA shares totaling $6,440,627.

Looking at Guillen’s activity throughout 2021 thus far, a trend emerges over the past few months. In April, he also sold 10,000 TSLA shares for an average price of $697.87 for a total amount of $6,978,659. Guillen executed similar transactions between January and March.

Compared to Guillen’s transactions, Tesla’s Chief Financial Officer (CFO) Zachary Kirkhorn sold less shares this year. In April 2021, Kirkhorn sold 1,250 shares for an average price of $718, totaling $897,500. While in March, the CFO sold 4,068 TSLA shares for an average of $655.81-$595.08 with a total amount of over $2 million. 

Jerome Guillen’s role in Tesla changed from president of Automotive to president of Heavy Trucking, according to a regulatory filing dated March 11, 2021. The shift in his role suggests that Guillen will have fewer overall responsibilities at Tesla in terms of overseeing the company’s entire automotive business. Instead, his new role suggests that Guillen will be concentrating more on the production of the Tesla Semi, the company’s much-anticipated all-electric Class-8 truck. 

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Tesla’s Heavy Trucking executive sells $6M+ in stocks

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Source: https://www.teslarati.com/tesla-jerome-guillen-sells-tsla-stocks/

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SpaceX’s sootiest Falcon 9 booster yet returns to port after record reuse

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Three days after acing record-breaking tenth launch and landing, SpaceX’s sootiest Falcon 9 rocket booster yet has returned to Port Canaveral to begin the processing of preparing for its eleventh flight.

Almost exactly three years ago, speaking in a conference call focused on the debut of SpaceX’s ultimate “Block 5” Falcon booster upgrade, CEO Elon Musk revealed that Block 5 boosters were “designed to do 10 or more flights with no [scheduled] refurbishment” and “at least 100 flights [with moderate scheduled maintenance.]” Relative to the Space Shuttle, the only other operational orbital-class reusable rocket in history, 10 flights with little to no refurbishment would be an extraordinary achievement

Around 36 months later, albeit a year and a half after Musk anticipated SpaceX might reach that milestones, a Falcon 9 booster has successfully completed ten orbital-class launches and lived to tell the tale.

Falcon 9 B1051 is the first liquid rocket booster ever to complete ten launches and the rocket certainly looks the part. (Richard Angle)

26 months after the booster first took flight in support of Crew Dragon’s March 2019 uncrewed orbital launch debut, Falcon 9 B1051 has narrowly beaten several of flight-proven siblings to become the first liquid rocket booster of any kind to complete ten launches. Just four days prior to that historic tenth flight, Falcon 9 booster B1049 became the second SpaceX rocket (after B1051) to ace nine launches and landings.

SpaceX quickly processed booster B1049 after its own port return and Falcon 9 B1051 narrowly missed greeting its still-vertical sibling by just a few days. Together, over the course of the 19 orbital launches those two Falcon 9 boosters have supported in ~30 months, B1049 and B1051 have collectively delivered more than 260 metric tons (~570,000 lb) of satellites and spacecraft to low Earth orbit (LEO), geostationary transfer orbit (GTO), and the International Space Station (ISS).

Falcon 9 B1051 is pictured in January 2019 before its first launch. (SpaceX)
Two and half years and ten launches later, the booster looks decidedly “flight-proven.” (Richard Angle)

That performance is roughly equivalent to two expendable Saturn V Moon rocket launches for a total launch cost to SpaceX likely less than $500 million, while five of those 19 launches also brought in revenue on the order of $400M to $500M. In effect, even the small handful of commercial launches B1049 and B1051 have completed likely generated enough revenue to wholly amortize the cost of a dozen or more additional launches. SpaceX has still had to pay for propellant, maritime recovery assets, any necessary refurbishment, and the hundreds of satellites both boosters have launched, but Falcon booster reusability still offers an extraordinary return on investment even with that multitude of caveats.

Falcon 9 B1051’s safe return also means that SpaceX should have no trouble turning the booster around as it prepares to push past the ten-flight target behind Block 5’s upgrade. In recent months, multiple SpaceX executives have stated that SpaceX intends to push well beyond that ten-flight goal as boosters with more and more flight experience continue to come back in excellent condition. CEO Elon Musk even indicated that SpaceX may intentionally fly Falcon 9’s fleet-leader (B1051, in this case) until something on the booster fails during a launch or landing. SpaceX’s own Starlink launches offer the perfect opportunity for that kind of pragmatic risk-taking.

Falcon 9 booster B1051’s titanium grid fins have developed a rainbow patina over ten hypersonic reentries. (Richard Angle)
(Richard Angle)
B1051’s aft engine and landing legs section certainly looks like it’s been through 10 launches and hypersonic reentries. (Richard Angle)

SpaceX’s sootiest Falcon 9 booster yet returns to port after record reuse

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Source: https://www.teslarati.com/spacex-sootiest-falcon-9-booster-port-return/

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SpaceX’s sootiest Falcon 9 booster yet returns to port after record reuse

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Published

on

Three days after acing record-breaking tenth launch and landing, SpaceX’s sootiest Falcon 9 rocket booster yet has returned to Port Canaveral to begin the processing of preparing for its eleventh flight.

Almost exactly three years ago, speaking in a conference call focused on the debut of SpaceX’s ultimate “Block 5” Falcon booster upgrade, CEO Elon Musk revealed that Block 5 boosters were “designed to do 10 or more flights with no [scheduled] refurbishment” and “at least 100 flights [with moderate scheduled maintenance.]” Relative to the Space Shuttle, the only other operational orbital-class reusable rocket in history, 10 flights with little to no refurbishment would be an extraordinary achievement

Around 36 months later, albeit a year and a half after Musk anticipated SpaceX might reach that milestones, a Falcon 9 booster has successfully completed ten orbital-class launches and lived to tell the tale.

Falcon 9 B1051 is the first liquid rocket booster ever to complete ten launches and the rocket certainly looks the part. (Richard Angle)

26 months after the booster first took flight in support of Crew Dragon’s March 2019 uncrewed orbital launch debut, Falcon 9 B1051 has narrowly beaten several of flight-proven siblings to become the first liquid rocket booster of any kind to complete ten launches. Just four days prior to that historic tenth flight, Falcon 9 booster B1049 became the second SpaceX rocket (after B1051) to ace nine launches and landings.

SpaceX quickly processed booster B1049 after its own port return and Falcon 9 B1051 narrowly missed greeting its still-vertical sibling by just a few days. Together, over the course of the 19 orbital launches those two Falcon 9 boosters have supported in ~30 months, B1049 and B1051 have collectively delivered more than 260 metric tons (~570,000 lb) of satellites and spacecraft to low Earth orbit (LEO), geostationary transfer orbit (GTO), and the International Space Station (ISS).

Falcon 9 B1051 is pictured in January 2019 before its first launch. (SpaceX)
Two and half years and ten launches later, the booster looks decidedly “flight-proven.” (Richard Angle)

That performance is roughly equivalent to two expendable Saturn V Moon rocket launches for a total launch cost to SpaceX likely less than $500 million, while five of those 19 launches also brought in revenue on the order of $400M to $500M. In effect, even the small handful of commercial launches B1049 and B1051 have completed likely generated enough revenue to wholly amortize the cost of a dozen or more additional launches. SpaceX has still had to pay for propellant, maritime recovery assets, any necessary refurbishment, and the hundreds of satellites both boosters have launched, but Falcon booster reusability still offers an extraordinary return on investment even with that multitude of caveats.

Falcon 9 B1051’s safe return also means that SpaceX should have no trouble turning the booster around as it prepares to push past the ten-flight target behind Block 5’s upgrade. In recent months, multiple SpaceX executives have stated that SpaceX intends to push well beyond that ten-flight goal as boosters with more and more flight experience continue to come back in excellent condition. CEO Elon Musk even indicated that SpaceX may intentionally fly Falcon 9’s fleet-leader (B1051, in this case) until something on the booster fails during a launch or landing. SpaceX’s own Starlink launches offer the perfect opportunity for that kind of pragmatic risk-taking.

Falcon 9 booster B1051’s titanium grid fins have developed a rainbow patina over ten hypersonic reentries. (Richard Angle)
(Richard Angle)
B1051’s aft engine and landing legs section certainly looks like it’s been through 10 launches and hypersonic reentries. (Richard Angle)

SpaceX’s sootiest Falcon 9 booster yet returns to port after record reuse

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.teslarati.com/spacex-sootiest-falcon-9-booster-port-return/

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