Mazda Aims to Launch 13 Electrified Vehicles by 2025
Mazda will introduce 13 electrified cars by about 2025, including full-electric, plug-in hybrid, and hybrid models, the automaker said in a statement on Thursday, and it aims to electrify all vehicles by 2030. According to Automotive News, the rollout of three hybrids, five plug-in hybrids, and three full-electric vehicles will start next year, focusing mainly on Europe, Japan, the United States, China and ASEAN markets, the company said in the statement. The models will use Mazda's Skyactiv multi-solution scalable architecture, and Toyota's hybrid system will be incorporated into some. In May, Mazda said all vehicles it produced by 2030 would incorporate electrification, ramping up the battery-EV ratio to 25 percent from a previously announced figure of 5 percent. Mazda also said it would develop a scalable platform specifically for EVs and planned for several models between 2025 and 2030. Read more here (Source: Automotive News).
U.S. Push for Self-Driving Cars Faces Union, Lawyers Opposition
The U.S. Senate Commerce Committee on Wednesday again rejected attempts to lift regulations to allow for the deployment of thousands of autonomous vehicles as union groups and attorneys campaign against the legislative proposal, reports Reuters. The committee rebuffed the bid by Republican Senator John Thune to attach measures lifting regulations on autonomous vehicles to a $78 billion surface transportation bill after he sought last month to attach it in May to a bill on China tech policy. Thune has proposed granting the U.S. National Highway Traffic Safety Administration (NHTSA) the power to grant exemptions for tens of thousands of self-driving vehicles per manufacturer from safety standards written with human drivers in mind. The surface bill, which would boost funding for Amtrak and other transportation needs, was approved by the committee on a 25-3 vote. Thune and other lawmakers have sought for nearly five years to win approval. Thune said that the "Teamsters and trial lawyers" are opposed to self-driving legislation and they "seem to own lock, stock and barrel the Democrats on this committee." Read more here (Source: Reuters).
Chip Shortage and Limited Supply Could Mean Traveling to a Dealership Out of State
The economy continues to rebound from the COVID-19 pandemic, but with the ongoing semiconductor chip shortage, many are traveling far and wide just to get the car they desire, reports USA Today. It doesn’t matter whether a vehicle is new or used, dealerships are running on empty. Nearly 10% of vehicle shoppers traveled out of state to purchase the ride they wanted, according to a new survey by Cars.com, an online automotive marketplace. Of the 12,000 respondents, 56% bought a new vehicle, while 43% bought a used vehicle. A shortage of computer chips has caused a number of automotive factories to shut down temporarily in recent months, as they can’t finish building new vehicles without adequate parts. Read more here (Source: USA Today).
Fed Pencils in Earlier Interest-Rate Increase
Federal Reserve officials signaled they expect to raise interest rates by late 2023, sooner than they anticipated in March, as the economy recovers rapidly from the effects of the pandemic and inflation heats up, reports The Wall Street Journal. Their median projection showed they see lifting their benchmark rate to 0.6% from near zero by the end of 2023. In March they had expected to hold it steady through that year. Fed officials also discussed an eventual reduction, or tapering, of the central bank’s bond-buying program, Chairman Jerome Powell said in a press conference Wednesday after the central bank’s two-day policy meeting. The timing of such a move remains uncertain, he added. Stocks and bonds fell after a statement from the Fed and Mr. Powell’s press conference. The Dow Jones Industrial Average closed 0.8% lower and the 10-year Treasury yield rose to 1.569%, from 1.498% on Tuesday. Bond yields rise as prices fall. Read more here (Source: The Wall Street Journal).
BMW Latest Maker to Accelerate Hydrogen Fuel Cell Development
BMW revealed it’s taking the next step in the development of its i Hydrogen Next fuel-cell technology, starting “real-life” testing of the new drivetrain on European roads, reports The Detroit Bureau. The company’s i Hydrogen Next is a hydrogen-electric drivetrain it has developed in partnership with Toyota. The two companies have been working together for nearly a decade on the technology. The goal is produce a system that can be used in a vehicle similar to the BMW X5, the company noted. “Hydrogen fuel cell technology can be an attractive option for sustainable drive trains – especially in larger vehicle classes,” according to Frank Weber, member of the Board of Management of BMW AG responsible for Development. “That is why road testing of near-standard vehicles with a hydrogen fuel cell drive train is an important milestone in our research and development efforts.” Read more here (Source: The Detroit Bureau).
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