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Daimler to spin off trucks division, rebrand as Mercedes-Benz

Ola Källenius, boss of Mercedes-Benz owner Daimler, made some interesting comments this week, as reported in a Financial Times article. The automaker is setting an end-of-decade target for…

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Ola Källenius, boss of Mercedes-Benz owner Daimler, made some interesting comments this week, as reported in a Financial Times article.

The automaker is setting an end-of-decade target for Mercedes-Benz’s profits from its electric vehicles to equal that of its internal combustion engines. Källenius fed the investor market with good news from a brand that managed just 50,000 EV sales this year (and probably made little or no money on them).

Daimler to spin off trucks division, rebrand as Mercedes-Benz

Källenius also addressed the group’s sizeable truck division. Daimler intends to spin it off and float on the Frankfurt stock exchange as a standalone unit.

The truck and auto units have a combined market value of €72 billion. However, they play to different song sheets. As such, the market does not fairly value either division.

The sum of the parts, Daimler believes, is valued at less than the total of the parts. Currently, the truck division is worth about €32 billion.

The market not buying autos EV potential in the way it has for the likes of Tesla.

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The future of trucks

Källenius may have a point.

Cynics would suggest decarbonizing trucks is a whole quantum leap in terms of challenge above the electrification of autos. Left combined, they will will drag autos down in the years ahead, they would argue.

It is a challenge the whole trucking industry faces.

However, solutions will emerge that allow a viable truck industry to evolve. Truck manufacturing is too large an employer for governments in Europe to allow otherwise.

As the largest listed standalone truck maker, the new unit could lead the market through what will be a challenging decade of change. At the very least, it will be able to help guide the market through that change. As a standalone unit, it would also be unencumbered by an auto division with different priorities.

Whether the autos division, to retain the Mercedes-Benz name, will achieve fair market value if it makes the transition as predicted remains to be seen. But with combined trucks and autos valued at less than one-tenth of the size of Tesla’s while producing four times as many vehicles, the Financial Times observes it has a lot to gain by achieving its goal.

Electrification drive

Markets are buying into the promise of electrification, boosting valuations to what some believe are unrealistic levels.

But in terms of one-way bets, the transition from internal combustion engines (ICE) to EVs or hydrogen has to be one.

Like Volkswagen/Audi, BMW, Jaguar Land Rover and others, Mercedes-Benz’s current range of ICE engines and drivetrains, smooth and sophisticated as they are, are legacy technologies. Those technologies will soon be on the path of diminishing returns in terms of continued investment.

The sooner electric drive trains and battery costs can be brought down to a level allowing cars to be sold at competitive prices and infrastructure/range improved to reduce buyer resistance, the more likely Mercedes-Benz autos will realise its profitability target.

Buy Mercedes-Benz and sell Tesla?

That would be a brave move.

However, it will be interesting to look back a couple of years and see if relative valuations remain at 1-to-10.

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Source: http://feedproxy.google.com/~r/agmetalminer/~3/8ij3YaCRMQE/

Automotive

Week in Review: Copper price strength; January auto sales; securing supply chains

Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including coverage of the copper price, how the Biden…

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list of commodities prices, including copper price, silver price, oil price and gold price

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Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including coverage of the copper price, how the Biden administration will handle the former Trump administration’s metals tariffs and much more.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Week of Feb. 22-26 (copper price, aluminum tariff and much more)

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Source: http://feedproxy.google.com/~r/agmetalminer/~3/c6KzTWolwL8/

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Automotive

New McLaren Carbon Fibre Lightweight Architecture Platform Used to Build Artura

The hybrid Artura is the next step in the evolution of vehicles at McLaren. Not only is the McLaren Carbon Fibre Lightweight Architecture (MCLA) new, but the high-performance hybrid powertrain is a fresh element as well. McLaren Automotive CEO Mike Flewitt described the Artura, “The next-generation hybrid supercar. A distillation of everything we’ve ever learned.” […]

The post New McLaren Carbon Fibre Lightweight Architecture Platform Used to Build Artura appeared first on Composites Manufacturing Magazine.

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The hybrid Artura is the next step in the evolution of vehicles at McLaren. Not only is the McLaren Carbon Fibre Lightweight Architecture (MCLA) new, but the high-performance hybrid powertrain is a fresh element as well. McLaren Automotive CEO Mike Flewitt described the Artura, “The next-generation hybrid supercar. A distillation of everything we’ve ever learned.”

The Artura is lightweight and strong thanks to the carbon fiber monocoque at the center of the new MCLA platform. Utilizing four new kinds of carbon fiber, a new resin system, and new core material, the MCLA platform provides the stiffness and strength needed for the high-performance vehicle. The Artura also features a carbon fiber windscreen surround.

Carbon fiber and superformed aluminum add a seamless look to the Artura. The vehicle is sculpted with details such as hidden door inlet ducts to harness airflow and the rear spoiler and diffuser add to downforce for stability.

The 671 horsepower for the Artura is provided by a new twin-turbocharged V6 engine with an 95PS E-Motor. The car can reach a top speed of 205 mph.

Options on the Artura include the MSO Carbon Fibre Pack with a gloss carbon fiber front splitter, diffuser, rear bumper, and door mirror casings, and the MSO Carbon Fibre Interior Pack providing carbon fiber extended gearshift paddles, a steering wheel clasp, window switch surrounds, extended sill finishers, and central tunnel bridge.

The brakes on the Artura are carbon-ceramic discs and the tires are Pirelli P-ZERO™.

All of this style and power weighs in at a curb weight (fluids + 100% fuel) of only 3,384 lbs.

Speaking on the Artura and the new technology, Mr. Flewitt said, “We pioneered ultimate performance hybrid technology with P1™ and Speedtail. Artura is the pure distillation of our collective expertise and experience. It’s the next generation McLaren.”

Source: http://compositesmanufacturingmagazine.com/2021/02/new-mclaren-carbon-fibre-lightweight-architecture-platform-used-to-build-artura/

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Automotive

This Morning in Metals: February US auto sales forecast to rise 3.3%

This morning in metals news: J.D. Power and LMC Automotive released their joint forecast on February US auto sales; meanwhile, US steel imports fell by 23% in January; and, lastly, Ford’s CEO…

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automotive sale in dealership

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This morning in metals news: J.D. Power and LMC Automotive released their joint forecast on February US auto sales; meanwhile, US steel imports fell by 23% in January; and, lastly, Ford’s CEO urged the US government to support the implementation of electric vehicle applications.

February US auto sales forecast to rise

New-vehicle retail sales in February are forecast to rise by 3.3% when adjusted for selling days, LMC Automotive and J.D. Power said.

“Despite challenges posed by inclement weather in most of the country, retail sales demand continues to be strong with the industry posting a second consecutive month of year-over-year gains,” said Thomas King, president of the data and analytics division at J.D. Power.

Meanwhile, the average manufacturer incentive is down. According to J.D. Power and LMC Automotive, the average incentive is on pace to be $3,562 per vehicle, or down $614 from a year ago.

Furthermore, as incentives decline, average transaction prices are going up. Per the report, the forecast calls for the average transaction price to rise 9.8% to $37,524, a February record.

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Steel imports drop 23%

US steel imports dropped 23% in January on a year-over-year basis, the American Iron and Steel Institute reported.

January imports totaled 2.42 million net tons. However, January imports jumped 62.2% from the previous month.

In addition, steel import market share reached an estimated 15% in January, the AISI added.

Ford CEO urges government to step in on EVs

Ford CEO Jim Farley on Wednesday urged the US government to step in and promote battery production and EV charging infrastructure, Reuters reported.

Meanwhile, President Joe Biden signed an executive order aimed at securing several critical supply chains. Among the critical products targeted are semiconductors, which have automotive applications.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Source: http://feedproxy.google.com/~r/agmetalminer/~3/79nk-HihnUA/

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