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- #683 - 🚗 On Track(s)
#683 - 🚗 On Track(s)
Nio Big and Small, Honda in India, and. Stories Worth Telling
Chris Reeves
May 13, 2024
TOGETHER WITH
We made it, Friend!
ASOTU CON 2024 is this week, and we are so excited to show all we’ve worked on but don’t forget: we are just as excited to see all YOU’VE been working on.
So keep that #asotucon hashtag close, and let us know what’s up!
Keep Pushing Back
-Paul, Kyle, Chris & Kristi
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BUSINESS
This Is The Week!
Giphy
ASOTU CON 2024 is finally here! Tomorrow, people will register and enjoy the welcome reception to kick off two massive days of content, networking, and recreation that remind the community that this industry is about way more than cars.
Emails will still flow, socials will still pop, and all the stuff you expect from us will be around, so if you aren’t in Baltimore with us this week, keep an eye on the feeds and participate from where you are. It’s going to take us all to give our world the full story of who retail auto really is.
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Miles(tones) Ahead?
Nio has some big plans... and small plans.
Small: On May 15, the Chinese automaker will launch an affordability-focused Onvo brand with its first model, the $34,600 L60 SUV. While Nio expands globally, Onvo's availability outside China has yet to be announced.
Big: It will compete with Tesla for the family market amid a price war, which it seems to be "winning" as its April sales increased despite the competition. Big sights, but the company just celebrated the production of its 500,000th vehicle in global EV leader BYD's backyard.
(Re)searching for Indian Hybrids
Honda is moving into the hybrid vehicle market with a substantial increase in R&D investment. This move is part of Honda's goal of achieving carbon neutrality by 2050. Honda is opening a new R&D center in Bengaluru to accelerate its electrification efforts.
Honda plans a 23% increase in R&D spending this year to boost hybrid and electric vehicle development. The company aims to produce 2 million hybrids a year by 2030 and is working toward carbon neutrality by 2040.
Financially, Honda projects a 2.8% rise in 2024/25 operating profit and announced an almost $2B share buyback following strong Q4 earnings, driven by robust US sales.
Leading the Charge(rs)
Charging infrastructure is still the shadow of every EV adoption conversation. Still, the "solutions" are so numerous now, and companies seem to spawn and vanish by the week, so, like a dog watching tennis on TV, we're just tired of paying attention to them.
Elon Musk slows Tesla Supercharger expansion, BP eyes US growth in EV charging, and Enteligent introduces the first DC-to-DC solar-powered EV charger.
Some Drama?
Tesla recently cut more jobs, including their Supercharger team, to save money.
Musk, however, reports the company is still expanding the charging network by $500M, not counting the cost of keeping the existing stations/chargers in place.
BP invited all displaced Supercharger geniuses to "call them" as they expand charging operations in the US. Specifically, I focused on the Northeast and West Coast.
Some Development.
What if the answer to all these charging questions is hanging over our heads... like a giant burning lightbulb of a "good idea" coming on?
Enteligent has a new solar EV charger, the TLCEV T1. It offers efficient DC-to-DC charging and integrates with existing solar installations. It claims a 20% energy savings and faster charging times.
On Track(s) with Polaris
Lemme tell you, there are two kinds of people: Those who admit to wishing they owned a tank when they are stuck in traffic and liars.
Polaris has patented a "Tracked All-Terrain Vehicle," a UTV tank with no hub connection, designed for both land and amphibious operations, featuring a twin-cylinder engine capable of carrying up to 1,600 kg. It boasts tank-like tracks for navigating rugged terrains and potential speeds of up to 50 mph.
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Whatever happens with flying cars, personal tanks, or those tiny-boxed-in-motorbikes, you know you can count on one thing…. Corollas from the 90s will still be putting around. Seriously, what is up with those things?
TOGETHER WITH VEHICLES FOR CHANGE
The Gift of Transportation
Did you know? Our good friends over at Vehicles for Change will be giving away a car to a single mom in need LIVE on stage at this year’s ASOTU CON.
But we need your help! We want to equip this family with all the essentials they may need, like a car seat, clothes, diapers, toys — all the good stuff!
Let’s work together to make a major impact. Join us and be part of the change!
MORE THAN CARS MOMENTS
Stories Worth Telling
We love sharing stories about dealers making More Than Cars Moments for their team and community. So, we are making space at ASOTU CON for those exact vibes. Plan to come enjoy the space, take some selfies, share some stories, and ultimately celebrate alongside a long tradition of retail auto providing the tools to people in and around the dealership to improve their lives.
Of course, you can also just hit reply and let Kristi and me (Chris) know what’s up. What are you doing, what are you feeling, and who are you helping? We love hearing those stories.
Quick Hits
History
1862: The USS Planter, a steamer and gunship, steals through Confederate lines and is passed to the Union, by a southern slave, Robert Smalls, who later was officially appointed as captain, becoming the first black man to command a United States ship. 🇺🇸
1940: Winston Churchill delivers his first speech as UK Prime Minister. 🌎
1986: Jeep Wrangler goes on sale. 🏔
Thanks for reading, friend! We will do our best to grab and share some of the good stuff from ASOTU CON with you over the next few days. But, it isn’t too late to grab a last-minute flight… in case you are wondering.
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