AD #3178 – Ford Expedition Timberline Off-Grid Concept; Tesla Moving HQ to Texas; GM Shares Plan to Double Revenue

This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry.

GM ANNOUNCES PLAN TO DOUBLE REVENUE
General Motors laid out ambitious plans during an investor presentation to grow revenue and its margins. The company said it’s aiming to double revenue from $140 billion today to about $280 billion and expand margins to 12 to 14 percent by 2030. It will do that by introducing new vehicles, including ICE and BEVs, new hardware and software platforms, commercializing its Cruise autonomous business, launching new startups and with its BrightDrop commercial van business.

GM UNVEILS ULTRA CRUISE HANDS-FREE DRIVER ASSIST SYSTEM
It also made several other big announcements, including unveiling a new hands-free driver assist system called Ultra Cruise, which at first will be able to handle 95% of all driving scenarios. Eventually, the technology will allow for hands-free driving on all public paved roads in the U.S. and Canada. It will first be introduced in a Cadillac vehicle in 2023 and will only be available in premium models. Its other hands-free driver assist system, Super Cruise, which only works on the highway, will be offered in its more mainstream models.

ELECTRIC SILVERADO TO DEBUT AT CES
And lastly, Chevy announced that it will reveal the electric Silverado at CES in January of 2022. It’s based on GM’s Ultium EV platform and has an estimated range of 400 miles. Other features include a fixed-glass roof and Four-Wheel-Steering. But that’s all Chevy is sharing for now.

MARK FIELDS NAMED HERTZ CEO
Former Ford CEO Mark Fields is returning to the auto industry. He was just named interim CEO of Hertz. But he’ll have his hands full with the rental car company emerging from bankruptcy only three months ago. Fields was let go at Ford in 2017 because the board was unhappy with the company’s profits and stock falling while he was CEO.

TESLA MOVING HEADQUARTERS TO TEXAS
During a call with shareholders, Elon Musk revealed that Tesla is moving its headquarters from California to Texas. It’s not too surprising of a move, last year Musk threatened to move the company due to COVID restrictions in California that disrupted production. Also, Tesla is building a new factory in Austin and it has a launch pad for SpaceX in Texas. But Tesla isn’t the first automaker to make the move, a few years back Toyota moved its U.S. headquarters from California to Texas.

TESLA NOW BUILDING MODEL Y WITH FRONT & REAR SINGLE CASTINGS
And in other Tesla news, it just achieved another first in the auto industry. Electrek reports the company is now producing the Model Y with two, large single castings for the front and back of the vehicle, becoming the first automaker to do so. Building vehicles with the mega-castings simplifies the manufacturing process by eliminating a number of welding robots and stamping machines and it saves money by not having to maintain them. The process also improves the vehicle’s NVH, makes it lighter and increases its range. The only downside is it could lead to expensive repairs if the vehicle gets in an accident. Tesla is aiming to produce the Model Y at its Gigafactories in Texas and Berlin using the new mega-castings by the end of the year.

ID.3 ELECTRIC BRINGING IN NEW CUSTOMERS FOR VOLKSWAGEN
And speaking of EVs, Volkswagen is gaining a lot of new customers thanks to its ID.3 electric. Since it launched last year, the company has received around 144,000 orders for the model in Europe and about half of them are new customers to the company. For comparison, it says other VW models bring in new customers about 36% of the time on average. Volkswagen made a huge bet on electric vehicles and it must be thrilled with the results so far.

MAZDA EXPANDS SUV LINE-UP WITH NEW NAMES
Mazda is shaking up its utility lineup. It’s adding a bunch of new models, including the CX-50, -60, -70, -80 and -90. That’s clearly going to put way too many crossovers and SUVs into its lineup and we expect a number will be renamed as one of the new vehicles or just dropped, but it’s unclear at the moment what those might be. However, it does look like the CX-5 will live on. All of the new models will be introduced over the next two years and the CX-50 will actually be the first model that gets produced at its joint plant with Toyota in Alabama. The CX-60 and upwards will be offered in a narrow or wide body type, depending on the market, and with two or three rows of seats. Powering the models will be a wide range of gas, diesel and electrified powertrains. And lastly, Mazda announced sometime around 2025 it’s going to introduce a product line that uses a dedicated EV platform.

HYUNDAI FILES PATENT FOR FUTURISTIC STEERING WHEEL
Automakers are starting to re-imagine the steering wheel. Tesla, of course, has its yoke steering wheel in the Model S and X. Last month, GM Design showed off a futuristic wheel or what it calls a steering pad, which features a screen in the middle of the yoke-like wheel. And now Hyundai has filed a patent in Germany for a wheel with the display screen in it. It’s still a traditional round wheel but the instrument cluster is moved from the dash to the wheel instead. The idea is to make it easier to see the display screen which a regular wheel can obstruct in most vehicles. If you’re wondering about the airbag, it’s still inside the wheel but Hyundai says it can deploy without damaging the screen because they’re spaced apart in separate mounts. Who knows if it will actually make it into production but Hyundai’s luxury brand Genesis recently revealed a new concept called the Mint that’s equipped with a similar wheel.

FORD REVEALS EXPEDITION TIMBERLINE OFF-GRID CONCEPT
Ford recently unveiled the off-road focused version of the updated Expedition, called the Timberline and now it’s showing just how far you could take that setup. The Expedition Timberline Off-Grid Concept sure looks ready for the floor of SEMA where it will be on display November 2-5, but first debuts today at the Overland Expo in Virginia. It’s fitted with FOX Performance shocks with remote reservoirs front and rear, 35-inch tires, underbody protection, a ton of lighting accessories, its own matching trailer to store extra gear, roof-top tent and awning and even a custom bed in the back. The aftermarket business is huge, bringing in billions of dollars every year, and that’s what Ford is hoping to tap into by showing off a vehicle like this.

NEW LEXUS LX TO DEBUT NEXT WEEK
And one last quick report before I sign off. Lexus teased the all-new LX SUV, which will debut next week October 14th.

But that brings us to the end of this week. Thanks for joining us and have a great weekend.