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A Closer Look at the CHIPS Act and Its Implications for the U.S. Market

Frank Holmes | Equities.com |

The bipartisan Creating Helpful Incentives to Produce Semiconductors for America Act, or CHIPS Act, was signed into law last week, setting aside $52 billion to boost domestic semiconductor research and production. We believe government policy is a precursor to change, and if that’s the case, we may soon see a big shift in the U.S.’s global market share of semiconductor chips.

These integrated circuits are the hidden brains of nearly everything that fills our lives,...


GM To Begin Delivery of Hummer Electric Pickup Truck by Mid-December

Kimberly Redmond | Equities.com |

General Motors Company (GM) expects to start deliveries of its new flagship vehicle, the GMC Hummer electric pickup truck, by the middle of December.

Duncan Aldred, global vice president of GMC and Buick, said on Tuesday the Hummer’s launch will begin with a $113,000 special “Edition 1” pick-up truck and that subsequent models with lower starting prices will be added in 2023. (https://www.reuters.com/business/autos-transportation/gm-begin-hummer-electric-pic...


Nissan Institutes Work Stoppages in Mexico for Parts of October

Kimberly Redmond | Equities.com |

Nissan Motor Company will pause production at two Mexican plants for several days this month due to the ongoing shortage of semiconductor chips.

On Wednesday, Reuters reported that operations will halt for 11 days at Nissan’s plant in Aguascalientes and for 8 days at its Morelos factory.


Semiconductor Shortage To Cost Global Auto Industry $210 Billion in Revenue in 2021

Kimberly Redmond | Equities.com |

The ongoing semiconductor shortage is now expected to cost the global automotive industry $210 billion in revenue this year, according to global consulting firm AlixPartners.

The forecast released Thursday is almost double the firm's previous projection of $110 billion made in May.


Hyundai To Launch Hydrogen Fuel Cell Versions of Commercial Vehicle Fleet by 2028

Kimberly Redmond | Equities.com |

Hyundai Motor Group plans to become the first automaker to develop hydrogen fuel cell versions of all its commercial vehicle models by the year 2028.

On Tuesday, the South Korean automotive giant made the announcement as part of a new strategy, Hydrogen Vision 2040, which aims to achieve cost competitiveness for hydrogen fuel cells that is comparable to electric battery vehicles by 2030.


General Motors To Reduce North American Production Due to Chip Shortage

Reuters | Equities.com |

General Motors Co will reduce production at most North American assembly plants this month because of the ongoing semiconductor chip shortage, hitting its profitable truck and sport utility vehicles, it said on Thursday.

The largest U.S. automaker will halt production next week at its Fort Wayne plant in Indiana and its Silao plant in Mexico, both of which build pickup trucks. In total, GM is cutting production at eight North American assembly plants in September.


BMW To Reduce Carbon Emissions Across Auto Life Cycle 40% by 2030

Reuters | Equities.com |

BMW plans to reduce carbon emissions across the life cycle of its vehicles — including the production process — at least 40% from 2019 levels by 2030, the carmaker said on Thursday, up from a previous target of a third.

In order to achieve this, the Munich-based automaker intends to increase the proportion of recycled and reusable materials used in manufacturing its vehicles from 30% to 50%, it said in a statement released ahead of the IAA Mobility conference in Munich next week.


General Motors Employees Must Disclose COVID-19 Vaccination Status

Kimberly Redmond | Equities.com |

General Motors Company (NYSE: GM) is requiring US-based salaried employees to disclose their COVID-19 vaccination status to help guide the automaker’s safety protocols going forward.

In response to a nationwide surge in coronavirus cases, GM introduced a confidential reporting requirement earlier this month for its 48,000 white-collar workers and is encouraging hourly workers to report their status as well, according to The Detroit Free Press.


AT&T Signs First 5G Connected Car Deal With GM: Jeff Kagan

Jeff Kagan | Equities.com |

AT&T has entered the 5G wireless connected car race by signing its first deal with GM. This deal will enable General Motors vehicles to be equipped with 5G wireless devices, connectivity and operations using the AT&T Mobility network beginning in 2024. So, let’s take a closer look at this exciting autonomous driving and connected car space which will continue to grow in importance going forward.


Geely Automobile Warns of Short-Term Semiconductor Hit But Reiterates Annual Sales Target

Reuters | Equities.com |

The company's upbeat forecast and a strong first-half revenue growth helped send shares of the Hangzhou-based car maker up nearly 4%.

Geely posted a 22% rise in six-month revenue to end-June of 45 billion yuan ($6.94 billion), driven by an improved product mix.


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