December 5, 2020

Sales 

A Charlotte advisory group Thursday night recommended an ambitious multi-billion-dollar plan in transportation investments paid for, in part, through a higher sales tax and possible property tax hike.

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The plan would pay for improvements to virtually every mode of transportation — from buses, light rail and roads to greenways and bike lanes.

The Charlotte MOVES Task Force proposed paying up to half the cost — up to $6 billion — with a new sales tax and possible city bonds, which would be backed by property taxes. The rest would come from the state and federal governments.

Former Mayor Harvey Gantt, who chaired the group, called it a “bold” plan that “has the potential to shape our community for generations to come.”

The so-called Transformational Mobility Network plan calls for a decade of construction with financing stretched over 30 years.

The plan is scheduled to go to the City Council on Dec. 14. But it’s unclear what the council will do with it.

“I don’t know that we would rubber stamp any recommendation,” Mayor Pro Tem Julie Eiselt said Thursday afternoon. “It’s one thing to say, ‘Here’s what we need.’ It’s another to say, ‘Here’s what we can support.’”

New sales tax required

The group proposed a “One Cent for Mobility” plan to raise the county sales tax by a penny. City officials said that would raise $6.6 billion over 30 years. The measure could go before voters as a referendum next fall.

Any proposed sales tax increase and referendum would require authorization by the General Assembly. Charlotte’s current 7.25% tax is one of North Carolina’s highest. Only two counties have higher rates, at 7.5%.

How the proposal would fare in Raleigh is unclear.

“I’m always happy to listen to the proposal,” said Rep.-elect John Bradford of Cornelius, who will be Mecklenburg County’s only Republican in the GOP-controlled Legislature. “That’s a tax that’s going to impact everybody. … People really need to understand what one cent means for their household income.”

The proposal is designed to improve transportation alternatives and with them access to jobs and economic development opportunities.

The plan also calls for unspecified “displacement mitigation” efforts that would discourage gentrification, which displaces poor residents through heavy investment that chances the character of a neighborhood. It didn’t spell out what that would involve.

Chance to ‘make a difference’

Some members raised questions about details of the plan.

“I absolutely support the vision,” said software engineer Jim Marascio. He said he still has concerns about paying for the investments and called anti-gentrification portions “a slippery slope.”

But most task force members praised the plan.

“This is an opportunity for us to make a difference in the lives of Charlotteans and the whole region,” attorney Ernie Reigel told the panel. “If we lead, the other communities around will benefit. … If we don’t do it now, we’ll look back . . . and regret it.”

“It’s vitally important that we do this and we need to do it as quickly

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Surging sales in electric cars have encouraged investors to bet on a rebound in the lithium market, setting off a dizzying rally in equities linked to the raw material.

Lithium-related stocks have been on a turbocharged run in recent weeks, encouraged by a growing number of cars rolling on to the roads of Europe and China. Shares in Albemarle, the world’s largest producer of the battery raw material, have soared more than two-thirds since their September low. Over the same period, Australia’s Pilbara Minerals has doubled in value.

The sector’s momentum has been encouraged by its association with the green agenda, an increasing focus of investors and governments, as well as one of the hottest market stories of 2020 — the almost 600 per cent share price rise of carmaker Tesla, which uses the material in its batteries.

The recent move reflects growing optimism about the mass market penetration of electric cars that use lithium in their batteries, say fund managers. Sales of electric vehicles and plug-in hybrids are expected to rise 28 per cent this year to 2.78m vehicles, according to consultancy Rho Motion. European sales are expected to creep past those of China, helped by subsidies in Germany and France.

“The stock market is always a forecasting animal . . . but it has a high-powered set of binoculars on at the moment,” said Will Smith, co-founder of Westbeck Capital Management in London. “Clearly, EV demand has surprised everyone to the upside this year and that is going to continue given the shift by governments to greener forms of transport as a way of stimulating economies.” 

Bar chart of million units sold since 2018 showing that sales of electric vehicle are on the rise

The shift in sentiment follows a three-year downturn in lithium prices caused by an oversupply of the raw material from new mines. Now, lithium prices may have bottomed, especially in Australia, the world’s largest producer. From a peak of more than $900 a tonne in 2018, prices for Australia’s lithium-containing spodumene rock have fallen to $375 a tonne — below the level where most mines can make money.

But prices were flat in October, according to Benchmark Mineral Intelligence, a consultancy. At the same time, domestic Chinese prices for lithium carbonate, a processed form of the raw material that is used in batteries, rose almost 1 per cent.

Wang Xiaosheng, chief executive of China-based lithium producer Ganfeng Lithium, said the price rise was driven by growing EV sales as well as growth in consumer electronics such as laptops as more people work from home due to Covid-19. Tesla last year opened a factory in Shanghai that produces its Model 3 vehicle, some shorter-range versions of which use lithium carbonate.

Line chart of lithium carbonate, global weighted average, $ per metric tonne, showing that lithium prices have slumped in recent years

Tesla’s chief executive Elon Musk said last month that the carmaker’s new factory in Berlin would expand to produce as much 250 gigawatt-hours of batteries a year — equivalent to about half of this year’s global production capacity.

Tesla’s stunning share price rally this year has lifted its market value to more than $500bn. Investors who had backed the company, and other high-flying

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Daimler chief executive Ola Källenius hailed a “remarkable” recovery in the Chinese market after the owner of Mercedes-Benz notched up a sixth straight month of double-digit sales in Asia’s largest economy.

China has been a rare bright spot for a global car industry hit hard by the disruption unleashed as governments’ attempts to contain the spread of Covid-19.

Daimler’s Mercedes-Benz brand sold a record 24 per cent more vehicles in China in the quarter to the end of September than in the same period in 2019, and the company has registered “double-digit growth” in the months since, Mr Källenius told the Financial Times.

With global car sales forecast to shrink by at least a fifth in 2020, the rebound in China is a much-needed fillip to German manufacturers who are struggling to pay for the development of electric cars.

Daimler’s rival BMW, which counts China as its largest single market, has also benefited from a record boom that sent the group’s third-quarter sales in the country up 31 per cent higher from a year earlier.

Sales at Volkswagen group, which includes premium brands such as Audi and Porsche, have dropped by just over 9 per cent in China for the year to the end of October, compared with a 25 per cent decline in western Europe.

“The V shaped recovery in China was remarkable,” Mr Källenius said.

The resurgent market helped Daimler record a pre-tax profit of €3.1bn for the third quarter, and free cash flow of more than €5bn.

While he cautioned that some of the rebound was owing to pent-up demand from February and March, when the pandemic savaged the Chinese economy, the Swedish executive said he was confident that Daimler was “looking at a growth momentum also going into 2021” and remains “bullish on China”.

Daimler faces a daunting bill to pay for the transition to electric car technology. Mr Källenius has vowed to slash a fifth of Daimler’s fixed costs over the next four years and focus more on its brands in profitable high-end segments, including Maybach, AMG and G.

The company has also been racing to meet strict EU-mandated fleet-wide emissions targets for 2020, in order to avoid fines from Brussels.

The rebound in China, Daimler’s largest and most profitable market, has fuelled a sharp rally in the group’s share price. The stock is now almost 15 per cent higher than it was at the start of the year, despite the high costs of the Stuttgart-based group’s late foray into electric vehicles.

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– Regulatory mandates for improving the performance and efficiency of automotive vehicles drive demand for cost-effective materials in automotive drive, aluminum gaining popularity over steel in automotive drive shaft market

Europe and North America key markets, emission regulations and large number of all-wheel drive vehicles bolster application of automotive drive shaft especially in four-wheel drive vehicles

ALBANY, N.Y., Dec. 2, 2020 /PRNewswire/ — Advances in material sciences for fabricating lightweight and inexpensive materials used in making automotive drive shafts have witnessed impetus from the steady demand for energy-efficient vehicles. New materials such as aluminum and carbon fiber have been increasingly tested in recent years and continue to increase the appetite for stakeholders in the automotive drive shafts.

Regulatory mandates in various developed and also developing regions for making energy-efficient utility vehicles available to consumers expand the possibilities in market. Post Covid-19 pandemic, production of automotive vehicles has gained pace, creating new market avenues.

The global automotive drive shaft market is expected to rise at tepid CAGR of ~2% during 2019 – 2027, with expected recovery of production of automotive vehicles in Q4 of 2020 strengthening market prospects. Despite the tepid growth, the final valuation of the market is expected to reach worth of ~US$ 21 Bn by 2027-end.

Advances in production technology and research in manufacturing technology are expected to boost the durability and noise dampening properties of automotive drive shafts, assert TMR analysts.

Download PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=18383

Key Findings on Automotive Drive Shaft Market Report

  • Of all the product types, single piece drive shaft segment accounted for the leading market share in 2018
  • Multi-piece drive shafts segment is expected to gather traction in automotive drive shaft market
  • Of all drive types, front-wheel drive vehicles held sizable share in 2018
  • The popularity of real wheel segment is likely to be not just confined to Europe but gain worldwide traction
  • The demand in the ‘others’ segment rising at notable pace since 2016
  • Of the various drive systems, two-wheel drive segment accounted for a sizable share in 2019
  • Of the various materials used in making automotive drive shafts, steel holds the sway and is expected to retain its lead
  • Of the various vehicle types, passenger vehicles segment held the major market share and is expected to retain its lead through 2027
  • Strength, machinability, and durability are key attributes propelling the popularity of steel in manufacturing automotive drive shafts.

Explore 413 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Automotive Drive Shaft Market (Drive Shaft Type: Single Piece and Multi-piece; Drive Type: Front Wheel Drive, Rear Wheel Drive, and Others; Drive System: Two Wheel Drive and Four Wheel Drive; Material: Aluminum, Steel, and Carbon Fiber; and Vehicle: Passenger Vehicle, Commercial Vehicle, and Electric Vehicle) – Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/automotive-drive-shafts-market.html

Automotive Drive Shaft Market: Key Driving Factors and Promising Avenues

  • Updates in emission norms play crucial role in shaping the contours of the market.
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The MarketWatch News Department was not involved in the creation of this content.

Dec 02, 2020 (The Expresswire) —
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Automotive ash tray is a receptacle for ash from cigarettes and cigars in the car.

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Detailed TOC of Global Automotive Ash Tray Sales Sales Market Report 2020

1 Automotive Ash Tray Sales Market Overview

1.1 Automotive Ash Tray Sales Product Scope

1.2 Automotive Ash Tray Sales Segment by Type

1.3 Automotive Ash Tray Sales Segment by Application

1.4 Automotive Ash

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Kandi EV
  • Hindenburg Research is back with more allegations of fraud. 
  • The short-seller has accused Kandi motors of fake sales and deceptive accounting practices. 
  • In September, a Hindenburg report unraveled electric-truck startup Nikola’s $2 billion deal with General Motors, with the two companies eventually agreeing to a scaled-down deal instead.
  • Visit Business Insider’s homepage for more stories.

Hindenburg Research is looking for a victory lap.

After single-handedly unraveling Nikola’s potential $2 billion deal with General Motors over the summer, the short-selling research firm has a new target: Kandi Motors.

The China-based and Nasdaq-listed electric-car startup has used in-house corporate entities to fake sales and show illegitimate growth, Hindenburg alleged in its report released Monday.

“The company’s largest customer, representing ~55% of last twelve months (LTM) sales, shares a phone number with a Kandi subsidiary, and shared an executive with Kandi,” the report says. “We visited the ‘customer.’ It is based in a tiny building right next to Kandi’s factory with a sign indicating that it’s a Kandi company. The same building housed another entity used by Kandi as part of a separate fake sales scheme to collect illegitimate subsidies from the Chinese government, for which it was fined and sanctioned.”

Shares of Kandi have tumbled more than 33% since the report was published Monday.

The company told Business Insider it takes seriously any allegations of impropriety, and it would study Hindenburg’s report. “We intend to thoroughly research the accusations, investigate internally as needed, and offer a public response in the near future,” a spokesperson said.

Hindenburg alleged that a fake revenue scheme was used as a ploy to raise money on US capital markets, and said the company has raised $160 million from investors since November. It also pointed to past SEC investigations and EPA fines.

“The company will likely issue some sort of press release declaring everything we say false and misleading, as they always do, while ignoring all or the vast majority of the questions we’ve raised,” Hindenburg said, alluding to its fight with electric-truck startup Nikola over the summer.

In September, shortly after General Motors and Nikola announced a partnership potentially worth up to $2 billion, a Hindenburg report caused the startup’s stock to plunge, its founder to relinquish his role in the c-suite, and GM to scale back its partnership.

Hindenburg said it’s still short Nikola, too, and will “keep calling it out as we see it.”

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– 120,000 steering units shipped for electric vehicle (“EV”) models so far in 2020; may reach over 140,000 units by year end 2020 –

– targets sales of over 200,000 steering units for Chinese EV vehicles in 2021 –

WUHAN, China, Nov. 30, 2020 /PRNewswire/ — China Automotive Systems, Inc. (Nasdaq: CAAS) (“CAAS” or the “Company”), a leading power steering components and systems supplier in China, today announced that it shipped approximately 120,000 units from its portfolio of electric power steering (“EPS”) products for use in Chinese electric vehicles (“EV”) during 2020.

Among the Chinese EV OEMs that are utilizing CAAS’s EPS units in 2020 are: Great Wall Motors, China’s largest SUV and pickup manufacturer, Chery Automobile, the largest state-owned car manufacturer in China, Beijing Auto, part of a top 5 automobile manufacturing group in China and which has been the leader in the production of BEVs for 7 years in a row, JAC Motors, a leading manufacturer of commercial vehicles in China and a major producer of passenger vehicles in China, Dongfeng Auto which is one of the 5 largest automobile manufacturers in China, and Hozon Auto which is an emerging all-EV manufacturer developing innovative technology to create intelligent EV models.

Sales of Chinese EVs approximately doubled year-over-year to 144,000 units in the month of October 2020. With this rapid growth of EVs occurring in China, the outlook is for booming growth as the Chinese government has set an EV car target of 25% of all new cars by 2025.

Mr. Hanlin Chen, chairman of CAAS, commented, “These sales continue our long trend of providing advanced steering products to the largest automobile manufacturers in China. We are pleased to meet their high requirements for excellent performance and quality. We have shipped a large number of our EPS steering products to Great Wall Motors for their new EV model in 2020, and will continue to ship to them in 2021. Given our sales momentum, we expect to sell over 140,000 steering units for use in Chinese EV models in 2020 and to reach approximately 200,000 units in 2021. The sales of our advanced EPS products to the largest automobile companies in China complements our sales of state-of-the-art hydraulic products to the leading Chinese vehicle OEMs and global Tier-1 vehicle OEMs we supply in the North and South American markets.”

Mr. Qizhou Wu, chief executive officer of CAAS, commented, “We have a history of our products winning awards for their high quality and performance and these contracts confirm our EPS products meet or exceed the requirements of the leading Chinese automotive manufacturers for their EV models. Our joint venture with KYB (China) Investment Co., Ltd. (“KYB”), a wholly owned company of Japan KYB Co., Ltd., is advancing our EPS technology as we penetrate the Chinese EV market. Our joint venture with Hyoseong Electric Co. Ltd. to design and manufacture small electric motors will further improve the capabilities of our EPS products in 2021. Other new products are under development to meet

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MARKET PULSE

Shares of China Automotive Systems Inc. skyrocketed 96.9% on heavy volume, to pace all premarket gainers on Monday, after the Wuhan, China-based company said so far this yaer it has shipped about 120,000 of its electric power-steering products for use in electric vehicles made in China. Trading volume swelled to 3.9 million share, compared with the full-day average of about 171,000 shares. The company said it expects to sell over 140,000 units of its steering products this year, and about 200,000 units next year. Among the electric vehicle makers the company sells to are SUV and truck maker Great Wall Motors, state-owned auto maker Chery Automobile, Beijing Auto, JAC Motors and Dongfeng Auto and Hozon Auto. China Automotive noted that sales of China-made EVs about doubled from a year ago to 144,000 units in October, and China’s government has set and EV car target of 25% of all new cars by 2025. China Automotive’s stock has run up 43.5% over the past three months through Friday, while the iShares MSCI China ETF has gained 6.7% and the S&P 500 has edged up 3.7%.

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Cyber Monday bike & kids’ electric bike deals have landed, browse the top Cyber Monday Strider & more savings listed below

Cyber Monday bike deals are finally live. Review the best deals on dirt bikes, kids’ electric bikes, mountain bikes and more. Links to the latest deals are listed below.

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About Save Bubble: Save Bubble round-up the

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