The Chevy Bolt Fire Thing Has Actually Been A Disaster For GM

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Photo: Cherokee County Fire and Emergency Services

Auto sales in Europe are bad, Rivian is looking to raise billions more, and talk of the Chevy Bolt fire is certainly bad. in all that and more morning shift For September 16, 2021.

1st gear: There was another Chevy Bolt fire and now GM says some owners should park their Bolts 50 feet away from other cars

Chevy Bolt has been the subject of Memory after Memory, due to potential fire issues, which is No, one can guess, good point. GM has also said in recent days that it Bolts may be buy back from some owners, if they made enough noise, more or less.

Now, Bloomberg reportGM is asking some owners to park their Bolts at least 50 feet away from other cars. comes after Another Bolt Fire in Cherokee County, Georgia.

The new advice is likely to anger owners who are already limiting their use of the Bolt to avoid overheating the battery and catching fire. Parking guidance — recommending a distance of 50 feet from other parked cars — is especially difficult for owners in urban areas. GM has confirmed 10 fires. The National Highway Traffic Safety Administration said the agency has found 13 fires in the Bolt, but the company has not confirmed that an additional three are part of the current recall issue.

The Bolt can typically go 259 miles on a charge, but this has been limited by GM’s guidance on fire avoidance. The automaker told Bolt owners to limit the charge to 90%, plug in more often, and avoid draining the battery below about 70 miles of remaining range. They are also advised to park their vehicles outside immediately after charging and not to leave them indoors to charge overnight.

The company will tell Bolt owners concerned about parking in public spaces that it recommends keeping 50 feet away from other cars in garages and lots, spokesman Dan Flores said.

It’s nothing short of a disaster for GM, even if the Bolt fires in the low double digits and LG too. some are to blame. It’s a shame, because in the era we’re trying to encourage EV adoption, things like this don’t help. Still, it seems like a growing pain more than anything else, just as cars with internal combustion engines were unreliable in the long early days. Decades, even.

2nd Gear: Rivian Wants Too Much Money

EV Startup has been riding high in recent times, and wants to capitalize on that, literally, Reuters report.

Amazon.com Inc. (AMZN.O)-backed electric vehicle maker, Rivian, which registered for a stock market debut last month, aims to raise between $5 billion and $8 billion with the listing, making it America’s largest. Will become the largest initial public offering. In recent years, according to people familiar with the matter.

Rivian, which counts Ford Motor Company (FN) and T. Rowe Price (TROW.O) among its investors, confidentially registered the IPO with US regulators last month. Sources said it wants a valuation of around $80 billion in listing, which is expected to land in late October or November.

Rivian declined to comment.

If Rivian raises $8 billion in an IPO, it would rank the fourth largest in the United States in the past decade. Dealogic: According to Alibaba, only three other companies have raised more than $8 billion in IPOs since 2011, which raised a world-record $25 billion in 2014; Facebook, which raised $16 billion in 2012; and Uber, which raised $8.1 billion in 2019.

3rd Gear: Europe Car Sales Bad

This is of course due in large part to the lack of a chip, which doesn’t look like that will end anytime soon. Interestingly, this is also because there is a high demand for EVs and PHEVs; Automakers can’t make enough of them.

From bloomberg:

The European Automobile Manufacturers Association said on Thursday that new car registrations fell by 18% in August and 24 per cent in July. Sales for the year are now just 13%, less than half the percentage posted at the halfway point of the year.

Auto production is being stifled by global semiconductor shortages that the chief executives of Volkswagen AG, Daimler AG and BMW AG have warned will last well into the next year. And if scarce inventory wasn’t enough to drive up prices, even carmakers are prioritizing their most attractive models because the number of vehicles they produce is limited.

“Chip shortages are causing production losses, and cannot really meet high demand,” EY said in a note. “Traditional combustion vehicles have been most affected, while the boom continues for plug-in hybrid and electric cars.”

The figures for July and August are the worst for two months since the end of the eurozone economic crisis in 2013. The decline was broad-based, with Europe’s biggest car markets – Germany, France, the UK, Italy and Spain – all watching. Double digit decline every month.

4th Gear: Ford Will Send $500 to Families in Flat Rock, Michigan

this is where Hundreds of gallons of gas leaked into the sewer system, and halting production at Ford’s Flat Rock Assembly Plant until next week. Detroit News says that Ford would give $500 to $1,200 to the families affected by leakage.

Ford Motor Co. will send $500 to every home affected by a gasoline leak from the automaker’s plant into the city’s sewer system, representatives said.

As 1,200 families were evacuated, this would mean that Ford would pay at least $600,000 in addition to others affected by the gas leak.

The leak from the Ford assembly plant was first detected on August 30 and appears to have started “not before” August 26, according to Bob Holycross, Ford’s vice president of sustainability, environmental and safety engineering, who said Tuesday afternoon. said. The press conference that the company believes followed that 1,400 gallons of gasoline gradually ran out.

Holycross said at the convention, “It wasn’t a matter of something completely different from a pipe or something like that,” which was held inside a mostly empty plant in Flat Rock. Reporters were told that the plant itself was deemed safe and clean from toxic chemicals.

It’s not clear to me what it’s intended to achieve other than goodwill, though that’s probably what Ford is trying to steer clear of litigation.

TR Reid, Ford’s director of corporate and public policy communications, said the $500 would be sent in the form of certified checks. Some checks may come before residents of evacuated families are cleared to return to their homes.

“They’ll have access to it as soon as they get home,” Reid said. “So I can’t tell you whether it will be on Friday, Monday, Wednesday, but the process has started. And they will be sent directly to them in a safe manner.”

5th Gear: Dieselgate Is Still Here

A long-pending criminal trial involving Dieselgate is now underway in Germany, Bloomberg reportIncluding four officers. I can’t believe it’s still a thing, but, then, just when i thought i was out, they pull me back in, etc.

The test – six years after the scandal broke – is the first criminal case to target executives at VW’s German headquarters, who reportedly backed the idea of ​​dodging emissions tests with a software trick.

The German legal system generally does not allow public identification of those who test.

Unknown managers were accused of authorizing in 2019 that vehicles were equipped with a so-called “defeat device” that masked the cars’ actual emissions during testing. This case includes the 9 million cars sold in Europe and the US.

“As officers, they were conclusively responsible for the fact that emissions regulations were violated in Europe and the US,” prosecutors said Thursday at the start of the trial in Brunswick (Braunschweig in German). “The rules were to protect the environment and people’s health.”

[…]

Volkswagen said in an emailed statement that it is in the interest of employees, shareholders and the company that the facts leading to the diesel crisis be brought to full light.

The automaker said the court would determine what responsibility the individuals might have.

Reverse: GM

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