Latest news with #I-Pace
Auto Car
06-05-2025
- Automotive
- Auto Car
The Jaguar I-Pace lives on: more than 2000 to be converted into autonomous taxis
More than 2000 Jaguar I-Pace electric cars are set to be converted into autonomous taxis at a new factory in the US. The EVs will be converted in Arizona by manufacturer Magna as part of a push by Alphabet-owned autonomous vehicle firm Waymo to expand its services. Already completing more than 250,000 autonomous taxi trips each week in Austin, Los Angeles, Phoenix and San Francisco, Waymo now wants to expand to Atlanta, Miami and Washington DC from next year. Its fleet currently consists of 1500 vehicles, which are all I-Paces. Conversion of a further 2000 I-Paces (a 'final delivery' to Waymo before Jaguar pulled the model from sale last year ahead of its 2026 rebranding) includes retrofitting an array of hardware, such as roof-mounted lidar, a host radar sensors and 29 cameras, and integrating its own computing software: the sixth-generation Waymo Driver. 'The Waymo Driver integration plant in Mesa is the epicenter of our future growth plans,' said Ryan McNamara, Waymo's vice-president of operations. 'With our partners at Magna, we've opened a manufacturing site that enables the cost efficiency, flexibility and capacity to scale our fleet to new heights.' As the I-Pace no longer made by Jaguar, the site will also begin to convert new cars, such as the Zeekr Mix. At full capacity, the factory will be capable of converting tens of thousands of vehicles per year, claimed Waymo.
TechCrunch
05-05-2025
- Automotive
- TechCrunch
Waymo ramps up robotaxi production at new Arizona factory
Waymo has played coy for years about exactly how many Jaguar I-Pace EVs are in its autonomous fleet — a figure that covers vehicles used in testing and commercial robotaxi operations. On Monday, the Alphabet company finally provided a peek at the commercial side of the fleet. Waymo said Monday, as part of a larger announcement, that it has more than 1,500 commercial robotaxis in operation. And work is underway to expand it through a multi-million-dollar investment with Magna to build more than 2,000 autonomous I-Pace vehicles at a new factory in Arizona. Waymo has worked with Magna for years, namely at a now closed facility in Detroit. The new 239,000-square-foot factory in the Phoenix suburb of Mesa is strategically located in the one of Waymo's robotaxi markets and close to its other service areas across San Francisco, Los Angeles, and Austin. A Waymo spokesperson told TechCrunch the company looked at other locations, but ultimately it chose Mesa for its proximity to other markets and because the consistent weather made it ideal for the validation process required before the robotaxis can be used by the public. Waymo said in a blog post announcing the factory that it received final delivery from Jaguar earlier this year. From here, contract builder Magna and Waymo take over to integrate the self-driving system into the vehicles. Waymo emphasized a new process designed to speed up the production-to-validation-to-public use process, noting that the AVs can drive themselves out of the facility and directly into service. 'In fact, these vehicles can pick up their first public passengers less than 30 minutes after leaving the factory,' Waymo said in its blog post. The company said that vehicles intended for other cities can be deployed into public service in a matter of hours after being shipped to their local depot. The Mesa factory is designed to handle other vehicle platforms, notably to integrate the sixth-generation of Waymo's self-driving system into the Zeekr RT later this year. Techcrunch event Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | BOOK NOW The plant will introduce an automated assembly line and other efficiencies over time, according to the company, which noted that the plant will be capable of building tens of thousands of fully autonomous Waymo vehicles per year when operating at full capacity.
Yahoo
02-05-2025
- Automotive
- Yahoo
Magna plans cost-cutting measures to cushion tariff hit after profit misses estimate
(Reuters) -Canadian auto parts supplier Magna International said on Friday that it plans to implement cost-saving measures to cushion the hit from U.S. President Donald Trump's sweeping tariffs. The cost-cutting plans come after the company missed first-quarter profit estimates due to a 3% decline in global vehicle production, with Magna especially impacted by Tata Motors' Jaguar halting production of I-Pace and E-Pace. Trump's wavering tariff policies could further roil Magna's financials, as they have forced U.S. auto companies to rethink part sourcing and production output. "We are actively advancing several initiatives, including operational excellence, restructuring, commercial recoveries, and reduced capital and engineering spending to mitigate the impact of tariffs," said Magna CEO Swamy Kotagiri. Further details on the cost cuts could be the key focus for investors on the company's conference call with analysts later in the day. On an adjusted basis, Magna earned 78 cents per share for the quarter through March, compared with analysts' estimates of 90 cents per share according to data compiled by LSEG. Overall quarterly sales fell about 8.2% to $10.07 billion from a year earlier but outperformed estimates of $9.7 billion. Its peer Aptiv, however, forecast its second-quarter profit above analysts' estimates on Thursday, betting on benefits from its previously employed cost-saving measures.
Reuters
02-05-2025
- Automotive
- Reuters
Magna plans cost-cutting measures to cushion tariff hit after profit misses estimate
May 2 (Reuters) - Canadian auto parts supplier Magna International ( opens new tab said on Friday that it plans to implement cost-saving measures to cushion the hit from U.S. President Donald Trump's sweeping tariffs. The cost-cutting plans come after the company missed first-quarter profit estimates due to a 3% decline in global vehicle production, with Magna especially impacted by Tata Motors' ( opens new tab Jaguar halting production of I-Pace and E-Pace. Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here. Trump's wavering tariff policies could further roil Magna's financials, as they have forced U.S. auto companies to rethink part sourcing and production output. "We are actively advancing several initiatives, including operational excellence, restructuring, commercial recoveries, and reduced capital and engineering spending to mitigate the impact of tariffs," said Magna CEO Swamy Kotagiri. Further details on the cost cuts could be the key focus for investors on the company's conference call with analysts later in the day. On an adjusted basis, Magna earned 78 cents per share for the quarter through March, compared with analysts' estimates of 90 cents per share according to data compiled by LSEG. Overall quarterly sales fell about 8.2% to $10.07 billion from a year earlier but outperformed estimates of $9.7 billion. Its peer Aptiv , however, forecast its second-quarter profit above analysts' estimates on Thursday, betting on benefits from its previously employed cost-saving measures.
Yahoo
27-04-2025
- Automotive
- Yahoo
6 EVs That Depreciate the Fastest Over 5 Years
Recently, iSeeCars published a study that charts the top 25 cars that best hold their value after purchase, as well as the 25 worst — the cars the depreciate in value faster than other ride. The list breaks the prices down by vehicle type: trucks, sedans, SUVs, hatchbacks, sports cars and electric vehicles (EVs). Check Out: Learn More: Are you considering an EV purchase? Are you worried about how quickly an EV may depreciate in price? GOBankingRates has pulled the six fastest-depreciating EVs on the market, the ones you should pause and consider before purchasing. See which vehicles you should avoid if you want to maintain a high resale value. Average 5-year depreciation: 72.2% Loss of value vs. MSRP: $51,953 As noted by CarSupermarket, the I-Pace was one of the first EVs of its type. That was a marketplace advantage at first; but, as EV tech advanced rapidly, the I-Pace was almost immediately dated and left in the dust — especially with regard to charging range and speed. Discover More: Also See: Average 5-year depreciation: 65.2% Loss of value vs. MSRP: $52,165 Much like the Jaguar I-Pace, Find My Electric has noted the Tesla Model S depreciates rapidly due to being outpaced by an ever-advancing EV world; further, like many luxury vehicles, the Model S depreciates quickly on the secondary market because used-car buyers have been found to be less interested in luxury amenities. See More: Average 5-year depreciation: 64.1% Loss of value vs. MSRP: $18,043 According to SlashGear, the overall rapid depreciation of the LEAF has less to do with the EV itself, but rather the logo that marks the front of the vehicle — Nissans in general reportedly have a poorer reputation than competitors after five years of use, and the depreciation rate of the LEAF is commiserate with the overall depreciation rate of Nissans overall. Average 5-year depreciation: 63.4% Loss of value vs. MSRP: $53,846 As is typical with many high-end SUVs, the Tesla Model X suffers a rapid depreciation that is common to very expensive SUVs; additionally, per FindMyElectric, luxury rides depreciate quickly in general because, again, used-vehicle shoppers don't place a premium on luxury features. Moreover, as newer luxury EVs flood the market from Tesla's many competitors, the resale value of older X's continues to spiral downward. Average 5-year depreciation: 60.4% Loss of value vs. MSRP: $36,225 TopSpeed has charted the Tesla Model Y's rapid depreciation as being due to, again, secondhand shoppers not hunting for luxury vehicles, but also because the Y gets outpaced by technological advancements made at a rapidity that the Y cannot compete with. Average 5-year depreciation: 60.1% Loss of value vs. MSRP: $59,691 The Porsche Taycan, while a well-known brand, comes with high depreciation for what CoPilotSearch has described as ever-changing advances in battery technology and 'charging infrastructure,' as well as customer preferences moving away from the Taycan in general. More From GOBankingRates Mark Cuban: Trump's Tariffs Will Affect This Class of People the Most 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth How To Get the Most Value From Your Costco Membership in 2025 How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on 6 EVs That Depreciate the Fastest Over 5 Years
