Latest news with #batteryfactory
Globe and Mail
3 days ago
- Automotive
- Globe and Mail
'If It Doesn't Stay, it Will Imperil What We Do in Marshall.' Ford Stock (NYSE:F) Gains Despite Battery Factory Threat
Is there trouble ahead at legacy automaker Ford (F)? It may be so, as new signs of declining federal funding for electric vehicles may be about to hit Ford at the battery factory level. Especially given one of the big battery factories Ford has at Marshall. Investors took the news oddly well, though, and sent shares surging upward nearly 2.5% in Friday afternoon's trading. Confident Investing Starts Here: We know that the government has been looking to save a few trillion bucks ever since the Department of Government Efficiency (DOGE) got fired up in earnest. And while it has found a whole lot of potential savings—savings that, even now, are looking to be actively codified into law—there are always other places to look. And production tax credits for electric vehicle batteries may be on the chopping block next. That, in turn—notes Ford's executive chair Bill Ford—would '…imperil what we do in Marshall,' referring to the battery plant in Marshall, Michigan. Ford elaborated 'We made a certain investment based upon a policy that was in place. It's not fair to change policies after the expenditure has been made.' Indeed, Ford is not without a point, but Ford must keep in mind that that policy was made by an administration that no longer exists. Tackling Pikes Peak Annually, Ford has a particular goal in mind for its electric vehicles, a demonstration of their sheer capability known as the Pikes Peak International Hill Climb. Ford has been in on the action for the last three years, and delivered some impressive wins. But this year might be the most impressive yet, as Ford brings a Mach-E Mustang to the hill climb event, and it is looking pretty sharp. Ford revealed back in January that the Pikes Peak run would be a Mustang Mach-E event, and the early word out about the car intended for that run. Reports note that the nose design, and much of the front, is clearly reminiscent of a Mach-E, but the rest of the car has been fundamentally redesigned for the event. Packing a front splitter, a rear wing, and a rear 'ground effect tunnel,' this car has been given the full treatment to give it the best chance at Pikes Peak. The combined effect yields—brace yourself—6,125 pounds of downforce. We will see how this does once the event concludes in late June. Is Ford Stock a Good Buy Right Now? Turning to Wall Street, analysts have a Hold consensus rating on F stock based on two Buys, 12 Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 15.75% loss in its share price over the past year, the average F price target of $9.71 per share implies 6.95% downside risk. See more F analyst ratings Disclosure Disclaimer & Disclosure Report an Issue
The Guardian
5 days ago
- Business
- The Guardian
Fight to stop Tesla project in South Australia to continue after council approval
An anonymous group of Adelaide activists will keep fighting to stop Elon Musk's Tesla from setting up a battery factory in the suburbs. Tesla has been targeted globally by protesters furious at Musk's work with the Trump administration, and at his ideology which the billionaire often espouses through his social media platform, X. This week that anger boiled over in the South Australian capital, half a world away from Washington DC. About 95% of the nearly 1,000 submissions were opposed to a proposal to build a Tesla showroom and battery recycling and repurposing factory. Many expressed 'anti-Tesla and anti-Elon Musk sentiment'. For decency, the local council redacted the language in some submissions to describe Musk and Tesla. 'We should not support and put money in the pockets of a [redacted] who openly [redacted] salutes, is [redacted] human,' said one. The world's richest man has announced he will leave his role in the department of government efficiency, which has slashed jobs and funding for US government agencies with often chaotic and devastating effects. He is pivoting back to his businesses, including Tesla, amid slumping sales. Meanwhile in Adelaide, the Marion city council overrode community objections and approved the factory project to proceed to the next stage, which will need state government approval. The council said the project would bring in 100 jobs and millions of dollars to the community. But the protest movement 'Trees not Teslas' is determined to fight on. While conservation groups and others were protesting against the Tesla project because of the need to remove trees on the land where the plant would be built, Trees not Teslas also fired people up over Musk himself. 'Neon' from Trees not Teslas did not want to use his real name, in part for fear of reprisals and in part because the group considers itself a collective. He said the traction the group got was 'wild', with their website getting thousands of views, but he acknowledged it was impossible to work out how much influence they ultimately had. Neon said the fight will continue, as the state government considers whether to approve the council's proposal to revoke the site's status as community land. Sign up for Guardian Australia's breaking news email 'We just move that further up. We have to. We move that into actions for the state government,' Neon said. 'We spread more awareness. We try to get more people involved. It now becomes not just a council issue but a fundamental state issue.' He said they started the campaign primarily to protect the trees on the site. '… our main focus was the trees … we're looking to preserve green spaces,' he said. 'We're very pro-electric vehicle and pro-green energy. 'But the industry that destroys green spaces is … green in name only.' The council argued that the space had not been publicly accessible since 2016 because of contamination. Neon said trees can help remediate the land. He also echoed comments made by the councillor Sarah Lascombe, who voted against the proposal, that the factory would only recycle or repurpose Tesla batteries, when most people use other brands. While the discussion has centred around electric vehicle batteries, it is possible the site could also recycle and repurpose Powerwall batteries. Guardian Australia has contacted Tesla for comment. Neon said the council voting eight to three to seek state government approval despite the community objections made the public consultation process seem like a box-ticking exercise. The mayor, Kris Hanna, said the project would bring jobs and an income stream into the community, and that Tesla would just set up elsewhere, if not in Marion. Tesla, Hanna said, had pledged to retain most significant trees and replace more trees than it was required to. Neon said the established trees would be replaced with saplings, removing many of their benefits. The state premier, Peter Malinauskas, said earlier this week that major industrial developments were welcome in the state and that while he 'violently' disagreed with Musk's politics, they were 'his prerogative'. A state government spokesperson said the government welcomed investment and job creation in SA and would consider the proposal.
The Guardian
7 days ago
- Business
- The Guardian
Tesla wins council approval for new factory in South Australia despite vocal anti-Musk sentiment
Elon Musk's Tesla is one step closer to opening a factory in an Adelaide suburb despite overwhelming community opposition from 'anti-Tesla and anti-Elon Musk sentiment'. On Tuesday night the City of Marion council voted to seek state government approval to sell the site to a developer who will build the factory. Environmental concerns and worries the site would draw protesters were also cited among the 95% of people who made submissions opposed to the plan for a battery factory. Sign up for Guardian Australia's breaking news email Many voiced their opposition with words that were censored in the city's official records, such as 'Elon Musk and Tesla are a [redacted] on humanity'. Tesla sales have slumped amid a backlash against Musk for his work with the Trump administration, such as slashing funding for government departments through his department of government efficiency, as well as his ideology and actions such as what some saw as an apparent fascist salute. But Marion's mayor, Kris Hanna, said blocking the sale of the site would have no impact on Musk and would have cost 100 local jobs. Hanna said the soil on the site was contaminated and not safe for recreation, so 'it makes sense to have it sealed over with a renewable technology facility'. 'If we didn't proceed, it would have cost 100 jobs to local residents, but it would have had no impact on Elon Musk,' he said. 'Tesla would almost certainly find somewhere else in Australia to build their factory.' More details soon …
Auto Blog
18-05-2025
- Automotive
- Auto Blog
Nissan's Planned Battery Plant is Officially Cancelled
Nissan isn't in a strong financial position by any means, and now the automaker has pulled the plug on another major investment. Another blow to Nissan's future If you've been glancing at the hottest stories in the automotive world, odds are you already know that Nissan is in deep trouble. The Japanese automaker saw its revenue tank last year, leading to financial issues that could be the end of the marque if no solution is found. Nissan's latest ordeal could affect its all-electric lineup and presence in markets around the globe. The Japanese automaker recently scrapped plans for a new battery factory in Japan, throwing yet another wrench into its plans to get back on track. 0:01 / 0:09 Audi A5 replaces A4: So, what's changed? Watch More 2025 Nissan Global Product and Technology Showcase — Source: Nissan Nissan's struggles continue Nissan had received government certification for its new Japanese lithium-ion-phosphate (LFP) battery factory back in September, and once the battery plant was up and running, Nissan's EV battery costs were expected to fall by up to 30%. The research, development, and mass production of LFP batteries at the factory were supposed to help Nissan EVs remain competitive with other manufacturers, like BYD, but those plans have now been scrapped. 'Nissan will adopt LFP batteries to meet the diverse needs of customers and to provide more affordable electric vehicles. The batteries, to be developed and mass-produced in Japan, will be installed in electric minivehicles starting in fiscal year 2028,' said Makoto Uchida, Nissan's former president and CEO, prior to the cancellation. 2025 Nissan LEAF — Source: Nissan Nissan's cancelled production facility would have been part of a $1 billion investment. The automaker was also scheduled to receive up to $384 million from the Japanese government to aid in establishing a domestic supply chain. Prior to cancelling construction of its battery factory in Japan, Nissan also closed its facility in Wuhan, China. 2025 Nissan Global Product and Technology Showcase – Keynote address with Guillaume Cartier — Source: Nissan Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Both the closure and cancellation are a part of the automaker's examination and streamlining of its global operations. Like most other automakers, Nissan is facing falling sales in China and posted a net loss of $4.5 billion in its last fiscal year. Overall, the manufacturer plans to cut costs by $1.7 billion to return to profitability by fiscal year 2026. In order to cut costs, Nissan plans to cut 20,000 jobs by fiscal year 2027, up from the 9,000 jobs the company previously announced. They also plan to close seven production facilities over the next two years, bringing its remaining plants down from 17 to 10. Nissan's primary concern is the United States and North America as a whole. The Japanese automaker's lineup is missing vehicles in key segments, and much of its range needs updates. Nissan plans to fix that with nearly a dozen new or refreshed vehicles across its mass-market and premium brands. The next-generation Nissan Leaf will join the Ariya in the brand's growing EV lineup, making the jump from a lackluster hatchback to a glowing crossover. Now entering its third generation, the Leaf rides on the same architecture as the Ariya, a change that results in improved performance and range. 2025 Nissan Ariya — Source: Nissan The Leaf is just the beginning of Nissan's plans for its United States lineup. The Japanese automaker will also launch the Rogue PHEV, the first plug-in hybrid for the brand, while the Pathfinder and Infiniti QX60 will receive refreshed styling inside and out. Third-generation Nissan Leaf — Source: Nissan The compact sedan segment isn't exactly booming, with fewer nameplates returning to the market with each passing year, but Nissan isn't giving up on it. The manufacturer plans to introduce the next-generation Sentra later this year but cut the Versa, one of the few remaining subcompact cars, from its lineup at the end of 2025. The Altima could be on the chopping block in 2026 as well, but there's no confirmation on that just yet. 2025 Nissan Sentra — Source: Nissan Final thoughts Nissan's financial troubles can't be understated, but with a recent change in leadership and a plan to cut costs, they're on the right track. The Japanese automaker seems ready to make a run at the United States market with refreshed and redesigned models that can compete with market leaders. That may not be enough to get Nissan out of the woods, though, as Chinese automakers are disrupting their home market and moving abroad at a rapid pace. Time isn't exactly on Nissan's side.
