AUTOMOTIVE
GM Strikes Cobalt Deal
Detroit automaker, GM, has announced a deal with Glencore PLC, a commodities firm. The agreement will provide GM with much-needed cobalt from Australian mines to ramp up its battery-powered vehicle production.
Glencore? Glencore is one of the world's largest global diversified natural resource companies. They mention distributing responsibly-sourced commodities that enable decarbonization while meeting energy needs.
Telling it like it is — Several of these long-term partnerships have popped up recently. Evidence that things get better when our circles grow, not just wider, but deeper.
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AUTOMOTIVE
Hyundai Investing In US Production
South Korean automaker Hyundai Motor Group said it will invest $7.4B in the US by 2025. The announcement comes alongside plans to produce two hybrid versions of existing models in the company's Montgomery, Ala, plant.
The whole team's here. The company represents Hyundai, Kia, and Genesis. While collective sales slipped 4.5% in Q1, Genesis's luxury sales increased 43%. Genesis recently opened its first standalone store in Lafayette, La.
Commercial idea for Hyundai — Make me a hybrid that flies from Montgomery…
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AUTOMOTIVE
Honda Targets 30 EVs By 2030
Honda said they plan to spend $64B on R&D over the next eight years. In addition to 30 EV models, the company hopes to reach the annual production of 2M EVs by 2030.
A new age? CEO Toshihiro Mibe says this is not the end of their previous hybrid technology, adding, "We will develop our current hybrids and use them as a weapon in our business." The bulk of the investment will be in electrification and software.
Telling it like it is — 2030 is starting to feel like a hyped up OEM boxing match waiting to happen…
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CLUBHOUSE
Pitch Tank by Auto Genius is a weekly clubhouse room where vendors pitch their products or services to a panel of dealers, GMs, shot callers, and tech experts. The panel asks follow-up questions and scores the product and pitch before announcing a winner. Join hosts Kyle Mountsier, Ben Hadley, Leah Garcia, Sean McLean, Gray Scott, and David Long for this week's show.
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NFTS
Bored Apes Yacht Club Movies Announced
Coinbase is creating a trilogy of movies starring characters from the Bored Ape NFT series. They announced an open call for NFT holders to submit their apes for casting consideration in the first film.
Coming to theaters and home cassettes? The first installment of the series will be released at the NFT.NYC conference in June. Part two will be open to holders of Mutant Ape Yacht Club NFTs, but not to Bored Ape Kennel Club NFTs.
Calling it now — Bored Ape figures coming to a Funko POP shelf near you.
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TOGETHER WITH RAMP
Money Saved Is Money Earned…
Modern challenges give us two options: modern solutions or agonizing through doing things "the way we always have."
Ramp is a modern solution for financial services. Where other corporate card companies try to entice higher spending with rewards, Ramp’s software seeks to help you save money and time. Ramp enables you to set precise controls on card use, track expenses, process hundreds of invoices in seconds, and have full faith in your accounting. Users report an average of 3.3% savings in their first year and 8x faster book closing.
So ditch your bonus gig as an accountant and work with a system designed from the ground up to be fast, efficient, and powerful. Check out Ramp today.
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CULTURE/KIDS
California Considering 32-Hour Workweek
Already a fixture in some companies, the four-day workweek may extend to more of the US. California introduced a bill in the state assembly calling for companies with 500 or more employees to officially adopt a 32-hour workweek. Additional compensation, such as time and a half or double pay, takes effect as the worker's time increases beyond 32 hours or 6 days in a week.
Impact? One-fifth of the state's workforce, about 2600 companies, fall under the proposed change. Opponents call the plan a "job killer," while proponents point to data collected from successful tests.
Telling it like it is — Great, now folks in CA can spend more time at their 2nd job to pay the rising costs of living in CA.
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QUICK HITS
- Robotaxi on the run from the law! A video caught the whole thing.
- Apple getting into gaming? They patented a video game controller.
- A biotech company is restoring hearing loss. Several clinical tests show hopeful results.
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