AD #2504 – Tokyo Extends Ghosn’s Jail Stay, Tesla Cuts Prices in U.S., AVs Could Help Large Scale EV Charging

Welcome to the first Autoline Daily of 2019! On today’s show… Carlos Ghosn is still in jail… Tesla cuts the price of its cars and its stock takes a hit… and the latest spy caper out of Russia has an automotive connection. All that and more coming right up on Autoline Daily.

This is Autoline Daily the voice of the automotive industry.

RUSSIA CHARGES AMERICAN WITH ESPIONAGE
Have you seen this story about Russia arresting an American and charging him with espionage? Normally we wouldn’t report on something like this but there is an automotive connection. Paul Whelan was arrested by Russians authorities. He also runs security for the global facilities for the supplier Borg-Warner. Whelan is a former Marine who liked to visit Russia and was in Moscow to assist in the wedding of another Marine who is based there. Jon Huntsman, the U.S. ambassador to Russia, has visited Whelan since his arrest. And there’s another automotive connection. Huntsman used to be on the board of directors at the Ford Motor Company.

TOKYO EXTENDS GHOSN’S JAIL STAY
Speaking of going to prison, Carlos Ghosn is still in jail. Earlier this week, a Tokyo court extended his detention until January 11th. Nissan’s former chairman has been held in custody since November 19th, when he was arrested for under reporting his income. He has been re-arrested on that charge and for allegedly making Nissan pay over $16 million for losses he made on personal investments. Ghosn denies the charges. Greg Kelly, Ghosn’s right-hand man, who was arrested at the same time, was released on bail last week.

TESLA CUTS PRICES
Tesla just chopped the price of the cars it sells in the U.S. by $2,000. That’s because the company just ran out of the $7,500 tax credit the U.S. government offers to people who buy an electric car. Tesla’s stock dropped $20 on the news. General Motors announced it just sold 200,000 EVs and so the tax credit will start to phase for it, too. GM gets one more quarter of the tax credits, after which it falls in half, and six months after that it goes away completely. This is bad news for Tesla and GM. They’re losing that subsidy just as their competitors are about to hit the market with a lot of EVs.

Speaking of Tesla, be sure to join us for Autoline After Hours this afternoon, when Sandy Munro joins us for the show. And he’ll have plenty to say about Tesla and the teardown he did of the Model 3. David Welch from Bloomberg will also be on the show so join john and Gary for some of the best insights into what’s really going on in the automotive industry.

Hyundai has come up with an intriguing way to charge electric cars and that’s coming up next.

AVs COULD HELP LARGE SCALE EV CHARGING
Hyundai is showing how autonomous cars could improve the efficiency of large scale charging of EVs. Users would first send off the vehicle to an automated charging spot using a smartphone app. The car then drives off to the nearest available spot to charge. Once the battery is fully charged, it would then leave the charging area to find an available parking spot, so the next car waiting in line to be charged can hop in. The fully charged vehicle would then be ready for the user to summon back with the app.

HYUNDAI TO SHOW VEHICLE THAT CAN WALK
And in other Hyundai news, it’s going to have a wild concept at CES, called the Elevate. The vehicle combines robotic legs with EV technology to allow it to drive, walk or even climb over the most difficult terrain. As you can see here it’s being demonstrated as a medical rescue vehicle.

Speaking of CES, be sure to be on the lookout for all the coverage that we’ll be generating at the show next week. We’ll be posting interviews from automakers and others that are making news at the show. And if you happen to be at CES, keep an eye out for us. We’ll be working out of ZF’s display at the show, at Booth number 8500.

Coming up next, Lego goes totally gearhead on us.

HAPPY 50TH B-DAY MICHAEL SCHUMACHER!
Formula One great Michael Schumacher turns 50 today. He won 91 races and seven titles in his career, more than any other driver. But he hasn’t been in public after suffering severe head injuries in a skiing accident five years ago. His family issued a rare statement yesterday, saying he’s being well cared for at his home in Switzerland. They also announced they’re launching an official Michael Schumacher app today, to allow fans to celebrate his career, so be on the lookout for that.

LEGO IS GOING TO HELL
The holiday season may be behind us, but a gearheads love for automobiles doesn’t just start and end this with the calendar. Lego just introduced another car kit to its Speed Champions line of toys. The nearly 500-piece set features a Dodge Challenger Demon in yellow and a black 1970 Charger. The Demon comes with two sets of custom wheel covers and the Charger has an optional supercharger with massive air scoop. At $30 the Lego set is a much cheaper way to get into either car and there’s nothing wrong with feeling like a kid again.

But that’s it for today, thanks for watching and please join us again tomorrow.