AD #3572 – BMW Revives Clown Shoe Design; Cadillac Names Escalade EV; Ford Will No Longer Be ‘All Things to All People’

  

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

FARLEY SAYS FORD WILL NO LONGER BE ‘ALL THINGS TO ALL PEOPLE’
Ford held its capital markets event earlier this morning where it reiterated its full-year guidance of $9 billion to $11 billion in adjusted earnings before interest and taxes and $6 billion in adjusted free cash flow. The company also said it expects to hit an EBIT margin of 10% in 2026. And here’s how it expects each of its business divisions to do this year. It expects Ford Blue, its ICE division, to reach an EBIT of $7 billion; its commercial division Ford Pro is estimated to hit $6 billion and its EV business, Ford Model e, will lose $3 billion this year. Ford also announced that it signed three lithium supply deals to help it meet its target of producing 2 million EVs by the end of 2026. And here’s a couple of interesting quotes from CEO Jim Farley. He said that “the days of being all things to all people are over at Ford.” And that the automaker will focus on connected, digital products that are tailored for owners instead of competing over “complex hardware in over-served vehicle categories.”

TOYOTA TOPS SUPPLIER RELATIONS SURVEY
Suppliers can account for up to 70% of the content in a vehicle, so having good relations with them is critical for car makers. And once again, supplier companies said Toyota is the top OEM to work with in North America according to Plante Moran’s annual study. The survey of supplier companies looks at supplier trust and return on investment. Honda is ranked second and General Motors was rated at number three. Ford saw the largest drop among OEMs and that’s because suppliers found it more difficult to work with because of its decision to separate its ICE and EV businesses. Suppliers say the biggest challenges they face working with automakers include supply chain disruptions, new joint ventures for battery plants and goals relating to environmental, social and governance.

U.S. & AUSTRALIA REACH CRITICAL MINERALS DEAL
The U.S. wants to lessen its reliance on China for raw materials needed to produce electric vehicles. And it just struck a deal with Australia to help it develop its critical minerals industry. Australian mineral suppliers will now be treated as domestic suppliers under the U.S. Defense Production Act. And that means battery materials sourced from Australia will qualify for EV tax credits provided by the Inflation Reduction Act. Australia supplies around half of the world’s lithium and other rare earth minerals.

 

LAKE SUPERIOR REGION COULD BECOME NICKEL HUB
And speaking of EV battery minerals, we could see more mining in the Great Lakes region. According to the U.S. Geological Survey, the states bordering Lake Superior; Minnesota, Wisconsin and Michigan, could have as much nickel as Russia and Canada, which are some of largest producers in the world. Mining companies and federal researchers are now conducting surveys to try and determine the feasibility of mining for the nickel. Indonesia is the top nickel producer in the world, providing 42% of global supplies, China is next at 16%, followed by Canada and Russia at 6% and 5%, respectively.

BMW REVIVES CLOWN SHOE DESIGN
My honest reaction to seeing this next concept was, ‘Oh my gosh! The BMW Clown Shoe is Back!’ For the uninitiated, the Clown Shoe or Bread Van or Sports Shoe refers to the shape of the BMW Z3 coupe that first came out in 1998 and ran until 2002. It’s always been a polarizing design, but personally I love it. That’s why I was so excited to see the all-new Concept Touring Coupe. It’s like a new-age version of the Z3 coupe that could make its way into very low-volume production if BMW feels there’s enough demand. And it wouldn’t be that difficult to pull off because it’s based on the Z4. That means it also doesn’t have a massive version of the twin-kidney grille, which was an initial worry having first seen the car in silhouette. Let us know what you think in the comments, but I’ll tell you, I like it a lot.  

LEXUS TEASES NEW SMALL CROSSOVER
Lexus teased that it’s going to reveal an all-new model, called the LBX on the 5th of June. It doesn’t give any details, but reports are it’s a small crossover that’s based on the Toyota Yaris Cross. So, the LBX would slot below the UX and would give Lexus 7 utility vehicles in its lineup, including the UX, NX, RZ, RX, GX and LX. I don’t know about you, but that sounds like too many? 

BRIDGESTONE REVEALS NEW EV TIRE
Bridgestone, which is one of our sponsors, introduced a new replacement tire for EVs in North America. The Turanza EV tire was designed specifically for electric vehicles and it features 50% renewable and recycled materials, including recycled black carbon from end of life tires, synthetic rubber from recycled plastic bags and bottles, renewable soybean oil and rice husk silica from rice husks. The tire was developed at Bridgestone’s tech center in Ohio and it will make the tire at its plants in North Carolina and Mexico. The tire will initially be available for all of Tesla’s models and the Ford Mustang Mach-E and next year it will be available in 13 more sizes.

   

FIAT HIGHLIGHTS NEW DESIGN DIRECTION
Fiat is calling its future design direction ‘Lingotto Inspired.’ Lingotto is the name of Fiat’s iconic manufacturing facility built in 1923 that for many years had a functioning test track on its roof. The brand’s CEO Olivier Francois says highlights of its new design theme will include less material and more space, which is applied to a very futuristic-looking seat and interior concept. He also says the windows on the dome-like structure on top of Lingotto, called La Pista 500, will inspire distinctive features, which looks like it could lead to a new lighting signature. Fiat says its new design language will start showing up next year.

CADILLAC NAMES ESCALADE EV, ESCALADE IQ
The name of the all-electric Cadillac Escalade just might have you saying, “ick.” As you probably know, all of Cadillac’s new EVs end in ‘IQ,’ which is supposed to be pronounced “ick.” Lyriq. Celestiq. But the Escalade doesn’t seem to be following that naming structure and is called the Escalade IQ. So, in order to keep things cohesive, I’ve come to enjoy calling it the Escalade-ick. Cadillac says the model will be revealed later this year.

But that brings us to the end of today’s show. Thanks for tuning in.