Latest news with #selfdrivingcars
Forbes
2 hours ago
- Automotive
- Forbes
China Auto Glass Maker Fuyao Opens New U.S. Plant, Eyes Smart Vehicles
Fuyao's new $300 million plant in Ohio has started production of auto glass. Fuyao Glass Industry Group, one of the world's largest auto glass manufacturers, attracted wide attention in the U.S. in 2019 when it was the focus of an Oscar-winning documentary, 'American Factory,' backed by Barack and Michelle Obama's Higher Ground Productions. The film follows the China-headquartered company's purchase of a shuttered former GM plant in Moraine, Ohio, and the facility's return to life after its purchase by Fuyao. Fuyao has factories in four U.S. states – Ohio, Illinois, Michigan, South Carolina. This year, Fuyao has started production at a newly finished plant built next door to its first one in Moraine, Ohio. The facility – a greenfield project – cost approximately $300 million and will eventually employ about 500 people. First announced in 2022, it's part of a total investment in the U.S. of more than $1.5 billion that has created about 4,000 direct jobs. A focus at the new site is glass for the emerging era of self-driving and increasingly energy efficient cars. 'We're seeing major shifts in the global auto glass industry,' said Fuyao Glass America Vice President Amy Lei in an interview at the new facility earlier this month. 'Glass is no longer just transparent—it's becoming safer, more comfortable, lighter and smarter.' The new plant is now operational, and aims to support emerging technologies for EVs, heads-up displays, advanced driver assistance systems, and other smart glass advances for next-generation vehicles. Investors seem to like what they've been seeing from Fuyao. Last year, overseas sales increased by 18% to 17.5 billion yuan; domestic revenue in China rose by 19% to 21.6 billion yuan. Overall business continued to improve in the first quarter of 2025: total sales climbed by 12% from a year earlier to 9.9 billion yuan, according to a filing. Business has been buoyed by China's world-leading auto market and Fuyao customers that include Honda, Bentley, Mercedes-Benz, Audi, Volkswagen, Ford and Chrysler. The company's Hong Kong-traded shares have climbed a third in the past year and reached an all-time high in May. Fuyao, whose global rivals include Saint-Gobain, AGC and Nippon Sheet Glass, ranked No. 1,392 on the Forbes Global 2000 list of the world's top publicly traded companies released in June, up from 1,532 a year earlier. Chairman Cho Tak Wong—also known as Cao Dewang—and Fuyao represent the clout of the private sector that grew out of China's economic reforms in the 1980s and helped to turn the nation of 1.4 billion people into the world's second-largest economy. Fuyao Glass Industry Chairman Cho Tak Wong met with U.S. employees following the end of the ... More pandemic. Cho, worth $4.4 billion today on the Forbes Real-Time Billionaires List, has made a big mark at home as a philanthropist by opening a university near Fuyao's headquarters in southern Fujian province. Looking back on Fuyao's U.S. history, the opening of the first Ohio factory 'marked the beginning of what I call American Factory 1.0: the transformation of a shuttered facility into a fully operational auto glass plant,' as part of a strategy that emphasizes local production for local clients, Lei said. 'American Factory 2.0, from around 2018 to 2022, was about stabilization and performance. We became profitable, built internal trust, and strengthened our customer relationships. We invested heavily in workforce training, process improvements and operational excellence,' she said. 'Today, we're in American Factory 3.0, focused on innovation and the future.' Lei, a graduate of Ohio State University, was the head of Asia business development at JobsOhio, the state's economic development organization before formally joining Fuyao. 'That gave me a front-row seat to Fuyao's growth in the U.S.—from just an idea to what it is today,' Lei said. 'So, for Fuyao, this (new) plant isn't just about adding capacity—it's a statement of purpose: to be future-ready, people-focused, and community-rooted.' Fuyao Glass America and The Heren Foundation U.S.A. over the years have donated to approximately 30 U.S. non-profits in fields such as education and health, including The Dayton Regional STEM School, the Children's Hunger Alliance, United Rehabilitation Services of Greater Dayton. It hasn't all been smooth going for the company of late, however. In July 2024, U.S. law enforcement conducted an on-site raid at Fuyao Glass America's plant in Moraine as well as other locations in the area as part of an investigation into a third-party labor service company. Fuyao Glass America believes it wasn't a target of the action. In April this year, the U.S. Department of Justice filed a related civil forfeiture complaint involving assets allegedly linked to an illegal staffing and money laundering scheme. Fuyao Glass America said it wasn't named as a defendant in the complaint and has said it is cooperating with authorities. Changes in U.S. tariffs have been altering the landscape for businesses globally. 'We're mindful of the impact of evolving U.S. trade policy and tariffs. At Fuyao, we stay focused on what we can control—quality, reliability, and how well we serve our customers,' Lei said. Fuyao Glass America Vice President Amy Lei spoke about the award-winning documentary "American ... More Factory" and Fuyao's expansion at the Dayton Area Chamber of Commerce in 2023. Looking down the road, Fuyao sees new opportunities in helping automakers adopt new technology. 'First, smart glass is in high demand. ADAS (advanced driver assistance systems) and HUD (heads-up display) systems require glass to integrate with sensors, cameras, and displays—driving the need for higher optical precision and more advanced engineering' that improves driver visibility and safety, Lei said. In addition, 'Glass is getting larger in size and lighter in weight. Panoramic roofs and oversized windshields are especially popular in EVs and SUVs. These designs enhance the driving experience but add complexity in terms of weight, insulation, and strength,' she said. Finally, 'there's a growing emphasis on energy efficiency. Features like low-E coatings and lightweight glass help reduce cabin heat and improve EV range and passenger comfort.' That focus on newer technology is key to future growth, Lei believes. 'We're not just adapting to trends—we're helping to define what the future of automotive glass can be.'
WIRED
4 days ago
- Automotive
- WIRED
60 Italian Mayors Want to Be the Unlikely Solution to Self-Driving Cars in Europe
A network of local officials in Italy want to turn their cities into laboratories for the vehicles of tomorrow in the hope of catching up with the US and China. Photo-Illustration: WIRED Staff; Getty Images The future of self-driving cars in Italy it seems needs not only technology but also (possibly above all) political backing. The good news, then, is that more than 60 mayors in Italy have decided to take the field for the cars of the future. On July 14, in the hall of the MEET Digital Culture Center in Milan, Pierfrancesco Maran, a member of the European Parliament for the Italian Democratic Party, launched the Autonomous Driving: Italy in the Front Row initiative, which has backing from administrators from all over the country. Among the signatories to the scheme are Milan mayor Beppe Sala and Turin mayor Stefano Lo Russo, as well as dozens of other mayors of medium-size and small cities. The goal, apparently, is to make Italy the European leader in autonomous vehicles, turning municipal territories into open-air laboratories for testing the automotive technologies of the near future. Catching Up With the USA and China The initiative stems from the realization that Europe lags dramatically behind the United States and China. While Waymo fulfills more than 250,000 paid rides a week in the four US cities where it operates, and China has established 20 pilot cities with more than 74 million miles of accumulated testing, Europe is limited to 400 highly fragmented micro-projects—of which less than half are nationwide. The gap is not only geographical. In the United States and China, private individuals and companies invest billions, while in Europe, public funds are dispersed over initiatives that are too small. Europe's regulatory fragmentation, with 27 different national frameworks (including differing traffic laws, for example), also makes it impossible to exploit any advantage of the region being a single continental market. A Waymo self-driving vehicle in San administrators see autonomous driving as a practical solution to everyday urban problems, such as last-mile urban logistics and reducing traffic and pollution in city centers. Extending the right to mobility for the elderly, disabled, and children is also a priority shared by many administrators in the country, as is the use of autonomous vehicles to better connect suburban areas poorly served by public transportation. But the path to implementation in the region turns out to be more complex than initially imagined, with challenges that go far beyond the technical aspects. For example, the collective mayors' enthusiasm clashes with an inadequate regulatory framework. Italy's new highway code, approved in December 2024, with focuses on new rules for electric scooters, zero tolerance for those driving under the influence of alcohol and drugs, and phone use while driving, has missed an opportunity to bring Italy in line with modern times and positions the country as one of "the last of the old century instead of the first of the new," according to Maran. Insurance companies still do not cover self-driving cars for public service in Italy, while European approval procedures severely limit the number of vehicles a manufacturer can put on the market. Bureaucracy slows any experimentation: Even to test a simple delivery robot seems to require "going to Mars," said Milan's councillor for mobility Arianna Censi. European Strategy The discussion at the Milan conference brought out different visions of the future of autonomous driving in Europe. Giorgio Gori, another European Parliament member for the Italian Democratic Party, stated that Europe risks repeating the same mistakes made with cloud computing and artificial intelligence, areas where the continent has lagged behind due to regulatory fragmentation and a lack of large corporate players. "We're not good at manufacturing, but from a utilization and grounding perspective we would be great," Gori said, suggesting that perhaps Europe should focus on applying technologies developed elsewhere rather than trying to reign in global competition. Benedetta Scuderi, a European Parliament member for the environmentally focused Italian Europa Verde party, rejects the idea of surrendering to the technological supremacy of the United States and China, and insisted on the need to find spaces where Europe can excel, identifying strategic niches in line with the continent's sustainability goals. Baidu's driverless car service in Jiaxing, China. CFOTO/Getty Images "We need to think in both research and production where autonomous driving can create added value for Europe and Italy," he said, pointing out that non-European players are not necessarily looking in the direction of more efficient and less impactful mobility. The European strategy, according to Scuderi, must focus on development models that favor vehicle sharing over private ownership, countering the US trend toward individual car ownership. In the Driver's Seat The Italian mayors' call represents a bet on the future of European mobility that must come to terms with complex geopolitical realities. And the time challenge is crucial: As each month of delay widens the gap with competitors investing billions, Europe must decide whether to focus on technological self-sufficiency or on the smart integration of solutions developed elsewhere. Waymo operates more than 1,500 vehicles in four US cities, while Volkswagen Group's Moia operating in Hamburg and Munich in Germany (as well as in Austin, Texas) has only 100 autonomous vehicles for testing purposes. Success will depend on turning the policy debate into concrete actions that involve public and private investment, simplify regulations, and convince citizens that autonomous driving is an opportunity and not a threat. The 60 Italian mayors who have signed on to this autonomous driving initiative show that this technology has some political backing. However, it should be noted that there are just under 8,000 Italian municipalities. Maran feels that what is needed is the kind of quantum leap only a coordinated European strategy can guarantee. 'This is not about technology that will arrive tomorrow,' he said, "but about a revolution already underway that Europe cannot afford to suffer passively." This story originally appeared on WIRED Italia and has been translated from Italian.
Yahoo
6 days ago
- Automotive
- Yahoo
Tesla shares sink as Musk says it could face some 'rough quarters' ahead
NEW YORK (AP) — Tesla shares sank Thursday after CEO Elon Musk said the company could face a 'few rough quarters' as it transitions to a future focused less on selling cars and more on offering people rides in self-driving cars. Late Wednesday, the electric vehicle maker reported another quarter of lackluster financial results, with revenue dropping 12% and profit falling 16%. Many prospective buyers have been turned off by Musk's foray into right-wing politics, and the competition has ramped up in key markets such as Europe and China. Tesla faces the loss of the $7,500 EV tax credit and stands to make much less money from selling regulatory credits to other automakers after recent changes to federal tax law. President Donald Trump's tariffs on countries including China and Mexico will also cost Tesla hundreds of millions of dollars, the company said on its earnings call. Musk spent the call talking less about car sales and more about robotaxis, automated driving software and robotics, which he says is the future of the company. But he acknowledged those businesses are a ways off from contributing to Tesla's bottom line. Tesla began a rollout in June of its paid robotaxi service in Austin, Texas, and hopes to introduce the driverless cabs in several other cities soon. Musk told analysts that the service will be available to probably 'half of the population of the U.S. by the end of the year — that's at least our goal, subject to regulatory approvals.' 'We're in this weird transition period where we'll lose a lot of incentives in the U.S.,' Musk said, adding that Tesla 'probably could have a few rough quarters' ahead. He added, though, 'Once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla's economics are not very compelling.' In early trading Thursday, Tesla share were down 8% to around $305. Sign in to access your portfolio
The Independent
6 days ago
- Automotive
- The Independent
Tesla shares sink as Musk says it could face some 'rough quarters' ahead
Tesla shares sank Thursday after CEO Elon Musk said the company could face a 'few rough quarters' as it transitions to a future focused less on selling cars and more on offering people rides in self-driving cars. Late Wednesday, the electric vehicle maker reported another quarter of lackluster financial results, with revenue dropping 12% and profit falling 16%. Many prospective buyers have been turned off by Musk's foray into right-wing politics, and the competition has ramped up in key markets such as Europe and China. Tesla faces the loss of the $7,500 EV tax credit and stands to make much less money from selling regulatory credits to other automakers after recent changes to federal tax law. President Donald Trump's tariffs on countries including China and Mexico will also cost Tesla hundreds of millions of dollars, the company said on its earnings call. Musk spent the call talking less about car sales and more about robotaxis, automated driving software and robotics, which he says is the future of the company. But he acknowledged those businesses are a ways off from contributing to Tesla's bottom line. Tesla began a rollout in June of its paid robotaxi service in Austin, Texas, and hopes to introduce the driverless cabs in several other cities soon. Musk told analysts that the service will be available to probably 'half of the population of the U.S. by the end of the year — that's at least our goal, subject to regulatory approvals.' 'We're in this weird transition period where we'll lose a lot of incentives in the U.S.,' Musk said, adding that Tesla 'probably could have a few rough quarters' ahead. He added, though, 'Once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla's economics are not very compelling.' In early trading Thursday, Tesla share were down 8% to around $305.
Associated Press
6 days ago
- Automotive
- Associated Press
Tesla shares sink as Musk says it could face some 'rough quarters' ahead
NEW YORK (AP) — Tesla shares sank Thursday after CEO Elon Musk said the company could face a 'few rough quarters' as it transitions to a future focused less on selling cars and more on offering people rides in self-driving cars. Late Wednesday, the electric vehicle maker reported another quarter of lackluster financial results, with revenue dropping 12% and profit falling 16%. Many prospective buyers have been turned off by Musk's foray into right-wing politics, and the competition has ramped up in key markets such as Europe and China. Tesla faces the loss of the $7,500 EV tax credit and stands to make much less money from selling regulatory credits to other automakers after recent changes to federal tax law. President Donald Trump's tariffs on countries including China and Mexico will also cost Tesla hundreds of millions of dollars, the company said on its earnings call. Musk spent the call talking less about car sales and more about robotaxis, automated driving software and robotics, which he says is the future of the company. But he acknowledged those businesses are a ways off from contributing to Tesla's bottom line. Tesla began a rollout in June of its paid robotaxi service in Austin, Texas, and hopes to introduce the driverless cabs in several other cities soon. Musk told analysts that the service will be available to probably 'half of the population of the U.S. by the end of the year — that's at least our goal, subject to regulatory approvals.' 'We're in this weird transition period where we'll lose a lot of incentives in the U.S.,' Musk said, adding that Tesla 'probably could have a few rough quarters' ahead. He added, though, 'Once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla's economics are not very compelling.' In early trading Thursday, Tesla share were down 8% to around $305.
