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AUTOMOTIVE
EV Costs Continue To Rise
EV companies like Tesla and Legacy OEMs entering the EV market have already increased prices and are expected to continue to do so in the coming years. Disrupted supply and increased demand for batteries may raise prices by 20% over the next four years.
Maintaining for now. While many OEMs are increasing prices, some, like Ford, have made affordability a key selling point for their EV presence and are holding off price increases for the time being.
Translation — Making lots of big batteries is challenging, costly, and still a pretty new concept that will take time to reach the level of stability ICE production has over the last 100 years.
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AUTOMOTIVE
Hyundai Investing $5.5B In Georgia
As part of a $10B investment plan in US production, Hyundai Motor Group will invest $5.5B in EV and battery manufacturing in Savannah, Georgia. The investment will begin constructing the company's first US EV plant in early 2023. Production at the almost 3,000-acre plant will start in early 2025.
Fully operational. Once the site reaches completion, it will employ over 8,000 people and produce 300K vehicles a year.
Telling it like it is — Hyundai sees Rivian’s bet in Georgia and raises them a thrown gauntlet.
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AUTOMOTIVE
Toyota Releases Positive Q4 Results
Toyota’s Q4 ended in March, and the company has released the quarter and fiscal year results.
- 8,230,000 units were sold, 584,000 more than the previous year.
- $279.4B in revenue, a 15.3% increase.
- North America had the most sales at 2.3M, an increase of 81K
Company forecasts have the total units sold increasing by 7.5% by the end of 2022's fiscal year in March 2023.
Telling it like it is — This is encouraging news! The automotive industry is a product and propellant of the economy as a whole.
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TECH
Apple Expanding Manufacturing Footprint
Two years of covid restrictions have Apple looking to mitigate risks by increasing manufacturing outside China. Currently, China accounts for 90% of Apple manufacturing, but the company is considering expansion into India and Vietnam.
Telling it like it is — What effect will expanding during a crisis have on production once things return to normal? Asking for 1,000,000,000+ Apple using friends.
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WHAT THE KIDS ARE INTO
EA Seeks Buyer
Videogame maker EA is looking for a buyer after a deal with NBCUniversal apparently collapsed. Electronic Arts have persisted in pursuing a sale following major consolidations within the videogame industry. Disney, Amazon, Apple, and Comcast have all been in talks with the maker of popular games like The Sims, FIFA, and Apex Legends.
Telling it like it is — EA asked ASOTU if we wanted to buy them, but we backed off when we found out they didn’t make Lego Star Wars
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