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Premium Brands Are Going for Their Piece of the EV Pie

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Automakers across the globe have revealed plans to electrify their fleets over the next decade, with some announcing goals for fully electrified lineups in less than five years. It was only a matter of time for premium brands to join the EV train as 100 all- electric EV models are set to debut by the end of 2024 with the world’s first electric pickup coming this year. Today, we got a glimpse of Bayerische Motoren Werke Aktiengesellschaft (OTC: BMWYY)’s all-electric BMW i4.

The rapid developments in the EV race are making it difficult to keep up with the changes so here’s a little summary of premium EVs we’re in for.

BMW

BMW started its EV chapter relatively early with its i3 that had limited success in the U.S. The details for the just revealed i4 are scarce, but specs seem to be relatively true to the concept that was revealed during the time of the cancelled 2020 Geneva motor show. Upcoming EVs include iX and Vision, with plans of electric versions of the 5 Series and 7 Series sedans, as well as the X1 SUV. A dozen new EVs are planned to debut by 2025. Also under its umbrella, a Mini Cooper electric model is already available.

Jaguar Land Rover Limited

English brands Jaguar and Land Rover have been a subsidiary of Tata Motors Limited (NYSE: TTM) since 2008. The Jaguar side of the company already has its electric SUV, the I-Pace, that is combating Tesla. On the other hand, the Land Rover will gain its first EV model by 2024. In early 2021, the brand revealed all Jaguar and Land Rover models will have an electric version by the end of the decade, with six new electric Land Rover SUVs over the next half of a decade, and an all-electric Jaguar lineup in just 4 years.

The announcement makes Jaguar the biggest legacy OEM to commit its future to electric cars, following similar announcements from Volkswagen Group (OTC: VWAGY)-owned Bentley and BMW Group-owned Rolls-Royce. But JLR will not stop at battery EVs as CEO Thierry Bolloré revealed that the aim is to achieve net zero carbon emissions across the supply chain, products and operations by 2039.

Audi

Volkswagen Group-owned Audi already had an E-Tron model in production, and recently introduced its stunning electric flagship, the e-Tron GT, which is built on the same platform as the equally fetching Porsche Taycan EV that is giving Tesla a run for its money. To make sure the model really stands out, sound engineers have been asked to develop a new soundtrack.

Bentley

Another brand under VW’s umbrella, Bentley, also joined the EV revolution as its CEO stated all Bentleys will be either hybrid or pure electric by 2026, with all vehicles being electric-only by the end of the decade.

Lamborghini

It’s no secret that the Volkswagen Group is eager to have all its brands participate in its electric revolution so Lamborghini won’t be an exception. Lamborghini E_X Electric Hypercar has no doors but a canopy that lifts off the car, exposing a single, centrally mounted seat. Its design is inspired by ’70s Gandini’s masterpieces, fighter jets, and racing prototypes. The character is preserved by avoiding unnecessary graphics with clean and sharp design, with the end result being new but recognizable.

McLaren

Before the Artura, McLaren has offered plug-in hybrids, but never as part of its popular Sport Series. This plug-in hybrid will debut this year with an impressive design and futuristic features. The company has vowed to pivot toward EVs and cease development of ICE models by 2030.  fully electric supercar isn’t expected before 2025.

Aston Martin

Aston Martin’s executive chairman Lawrence Stroll revealed to the Financial Times that the British brand’s first EVs will be built in the United Kingdom. Its first two EVs will be a sports car and a crossover. Although the two EVs will be made in Aston’s UK plants, Mercedes plans to up its stake in Aston Martin to 20 percent by 2023.

Porsche

Porsche’s first EV, the Taycan, has been a hit and therefore, the automaker introduced its much-anticipated wagon variant in early March, Porsche Taycan Cross Turismo, which is sold as a crossover. This version brings more utility with more cargo room than the sedan and additional ground clearance. The two models should arrive at US dealerships this summer.

Mercedes

Mercedes is going full speed ahead with its EQ range. Earlier this year, Mercedes revealed its EQA compact crossover. Next month, the slick Mercedes EQS luxury sedan is expected to make its world debut, followed by the EQE as an electric equivalent to the E-Class and Tesla S model. By 2022, Mercedes plans to offer ten different battery-electric cars.

Bentley

In February, Bentley revealed its roadmap to sustainable, recyclable electric motors with a three-year research study. The study will support its commitment to offer only hybrid or electric vehicles by 2026 and a fully electric lineup by 2030 by revolutionizing the sustainability of electric motors. The study titled RaRE, that stands for Rare-earth Recycling for E-machines, is devising a method of extracting magnets from waste electronics. The goal is to scale up and repurpose the extracted magnetic material into new recyclable magnets that can be used within ancillary motors.

To be continued…

As automakers are accelerating their efforts towards electrification, this transformation will be unprecedented. Ferrari is also working hard on its new model, Hybrid V6, which will pioneer new technology but not a lot of details have been released. A lot of similar new information is bound to come out, along with developments in infrastructure, batteries as well as sustainability of manufacturing processes and sourcing of materials.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

BenzingaEditorial

Coca Cola Confirms Its World’s Beloved Brand Status

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For more than a century, The Coca-Cola Company (NYSE: KO) has been “refreshing the world in mind, body, and spirit”. The company aims to inspire moments of optimism, to create value and make a difference.

On Wednesday, the beverage giant revealed second-quarter earnings and revenue that beat Wall Street’s expectations, allowing it to raise its full year forecast for adjusted earnings per share and organic revenue growth. Most importantly, some markets rebounded from the pandemic, fueling revenue to surpass 2019 levels. Shares rose more than 2% in morning trading.

Q2 figures

Net income rose from $1.78 billion as it amounted to $2.64 billion. It resulted in adjusted earnings per share of 68 cents, exceeding the expected 56 cents. Net sales rose 42% with revenue of $10.13 billion that also exceeded the expected $9.32 billion. Excluding acquisitions and foreign currency, organic revenue rose 37% compared to last year’s biggest plunge in quarterly revenue in at least three decades due to lockdowns that severely dented demand.

A significant increase in marketing and advertising spend fueled the rebound but Coca Cola’s approach isn’t just about boosting spend, but also about increasing the efficiency of that spend. CFO John Murphy revealed that marketing dollars were doubled compared to last year’s quarter, when the pandemic forced the beverage giant to slash its costs to preserve cash.

Unit performance

All drink segments reported double-digit volume growth. Away-from-home channels, like restaurants and movie theaters, were rebounding in some markets, like China and Nigeria, but there are also markets that are still being heavily pressured by the pandemic such as India.

The department that contains its flagship soda saw volume increase by 14% in the quarter. The nutrition, juice, dairy and plant-based beverage business saw a volume growth of 25%, partly fueled by Minute Maid and Fairlife milk sales in North America. The same volume growth was seen by hydration, sports, coffee and tea segment. Costa cafes in the United Kingdom reopened and drove 78% increase in volume for coffee alone.

The risk of raising commodity prices

Like its F&B peers, Coke is facing higher commodity prices but it plans to raise prices and use productivity levers to manage the volatility in the second half of the year.

Outlook

For the full year, Coke improved its organic revenue growth outlook from high-single digit growth to a range of 12% to 14%. It also raised its forecast for adjusted earnings per share growth from high single digits to a low double digits range of 13% to 15%.

Putting it all together, executives emphasized the range of possible outcomes given the asynchronous recovery and dynamic of the pandemic. Coca Cola plans to build on the strong momentum by intensifying the amount and efficacy of promotions and continuing to innovate, what it does better than anyone and what helped it earn its brand status.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Automakers Are Hitting the Accelerator in the EV Race

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On Thursday, Daimler AG (OTC: DDAIF) has officially hit the accelerator in the e-car race with Tesla (NASDAQ: TSLA), revealing it will invest more than 40 billion euros in EVs by 2030. From 2025, three new vehicle platforms will only make battery-powered vehicles. One will cover passenger cars and SUVs, one will be devoted to vans and last but not least, the third will be home to high-performance vehicles that will be launched in 2025. Under its EV strategy, the inventor of the modern motor car will be renamed Mercedes-Benz as it spins off its trucks division by the end of the year. With its partners, it will build eight battery plants to ramp up EV production.

Upon the news that come just over a week after the EU proposed an effective ban on the sale of new petrol and diesel cars from 2035, shares rose 2.5%.

Automotive peers

Ahead of the EU’s announcement that is only part of a broad strategy to combat global warming, many automakers announced major investments in EVs. Earlier this month, Stellantis (NYSE: STLA) revealed its own EV strategy that includes investing more than 30 billion euros by 2025. Mercedes Benz isn’t the only one ‘going for it’ to be dominantly, if not all electric, by the end of the decade. Geely Automobile Holdings Limited’s (OTC: GELYF) Volvo Cars committed to going all electric by 2030, while General Motors Co (NYSE: GM) is aiming to be fully electric by 2035 and Volkswagen AG (OTC: VWAGY) even plans to build half a dozen battery cell plants in Europe.

Moving the debate

Daimler’s chief executive stated that  spending on ICE-related technology will be “close to zero” by 2025 but he did not specify when it will end the sales of fossil fuel-powered cars. Källenius wants to move the debate away from when will the last combustion engine be built to how quickly they can scale up to being close to 100% electric.

Tough decisions for Mercedes Benz

The undergoing shift will result in an 80% drop in investments in ICE vehicles between 2019 and 2026. This will have a direct impact on jobs because EVs have fewer components and so require fewer workers compared to their ICE counterparts. As of 2025, Daimler expects EVs and hybrids will make up half of its sales, with all-electric cars expected to account for most that figure, which is earlier than its previous forecast for 2030.

The battery- the Holly Grail

By 2023, Daimler plans to have a fully operational battery recycling plant in Germany. The industry leader Tesla just signed a deal with the world’s largest nickel miner to secure its battery resources as it prepares to begin its own tables battery in-house. Then there’s Worksport (OTC: WKSP) who will bring solar power to the EV table with its solar fusion TerraVis which will be fine-tuned and validated for prelaunch by the end of 2021. Although the first prototype is a solar-powered tonneau cover for pickup truck drivers, the company is also developing TerraVis COR which is a standalone product that offers remote power generation and storage. In other words, with its two-year partnership with Ontario Tech University, Worksport is fully equipped to power many automakers step into the electrification era.

The EV race is a journey like no other we have witnessed – and the participants are going full-speed ahead as they race to reshape the energy matrix of automotive industry.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Intel’s Q2 Results Show It Is Not Losing Focus

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Intel Corporation (NASDAQ: INTC) revealed its second-quarter 2021 financial results yesterday. The digitization transformation and switching to cloud services continue to accelerate, and a company like Intel sees that as the opportunity for an even bigger growth. Even with the current semiconductor shortage, Intel is not losing its focus on both innovations and the implementation of new solutions. The company’s CEO, Pat Gelsinger, appointed earlier in 2021, believes we are at the beginning of the semiconductor industry’s decade of sustained growth and that Intel has a unique position to capitalize on that trend. As the momentum is strengthening, execution is increasing, the company’s products are being chosen for top and flagship products. We can also see good results in other companies in the semiconductor business, like Texas Instruments Incorporated (NASDAQ: TXN) and Advanced Micro Devices, Inc. (NASDAQ: AMD).

 Second-quarter results

Intel’s second-quarter results are positive and the proof of the momentum building up, as mentioned by Gelsinger. GAAP revenues for Q2 were $19.6 billion, significantly higher than the expected $17.8 billion, and there was no change when looking back year over year. However, non-GAAP revenues were $18.5 billion, exceeding the April guidance by $700 million, and that is 2% up compared to the previous year. Intel’s Data Center Group (DCG) generated $6.5 billion compared to the expected $5.9 billion. Client computing generated the expected revenues of 9.95 billion, while the actual revenues were $10.1 billion. GAAP earnings per share were $1.24, while the non-GAAP EPS were $1.28, which also surpassed April’s guidance of $1.07.

 The good trend in the semiconductor industry

Another chipmaker, Dallas-based Texas Instruments, also reported Q2 earnings that topped the expectations. These good results were due to revenues growth and an increase in profits. The analysts expected revenues of $4.36 billion, and the company managed to generate $4.58 billion. That is a sales increase of 41% when looking year over year. Expected earnings per share were $2.05, while the analysts expected $1.83. However, the sales guidance for the current quarter was below the investors’ wishes, so the share price dropped upon the news.

 Outlook

As revenue, EPS, and gross margin exceeded the Q2 guidance, Intel raised its 2021 full-year guidance. So expected GAAP revenues are $77.6 billion and non-GAAP revenues are expected to amount to $73.5 billion (which is an increase of $1 billion), resulting in expected GAAP EPS of $4.09 and non-GAAP EPS of $4.80. Planned CAPEX is between $19 billion and $20 billion and free cash flow should be $11 billion, which is an increase of $500 million versus prior expectations. Gelsinger estimates that the semiconductor shortage will start loosening in the second half of the year, but it will take another one to two years until the demand is completely met.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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