Other Automotive

Sunoco and Energy Transfer Sign First Joint Multi-Year Partnership With Stake F1 Team KICK Sauber

Retrieved on: 
Friday, February 23, 2024

Sunoco LP (NYSE: SUN) and Energy Transfer LP (NYSE: ET), both based in Dallas, announced today they have signed an agreement with Switzerland-based Sauber Motorsport to sponsor its Stake F1 Team KICK Sauber, marking the first time these two companies have entered a marketing partnership.

Key Points: 
  • Sunoco LP (NYSE: SUN) and Energy Transfer LP (NYSE: ET), both based in Dallas, announced today they have signed an agreement with Switzerland-based Sauber Motorsport to sponsor its Stake F1 Team KICK Sauber, marking the first time these two companies have entered a marketing partnership.
  • View the full release here: https://www.businesswire.com/news/home/20240223759441/en/
    SUNOCO AND ENERGY TRANSFER SIGN FIRST JOINT MULTI-YEAR PARTNERSHIP WITH STAKE F1 TEAM KICK SAUBER (Photo: Business Wire)
    The cornerstone of the sponsorship is brand visibility for both Sunoco and Energy Transfer on the new C44 Stake F1 Team car revealed in Hinwil, Switzerland earlier this month.
  • SUN's general partner is owned by Energy Transfer LP (NYSE: ET).
  • Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with more than 125,000 miles of pipeline and associated energy infrastructure.

‘A life-changing experience’: Nissan Ready electrifies the next generation

Retrieved on: 
Friday, February 23, 2024

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240223290598/en/
    It’s 8 o’clock on a Monday morning, and the Nissan Training Center in Smyrna, Tennessee, is buzzing.
  • Nissan and INFINITI executives lead the program, conducting interactive presentations, career-building and networking workshops, and tours of Nissan facilities, while building genuine relationships with participating students.
  • “Every detail of this experience was intentional,” said Chandra Vasser , vice president and chief diversity, equity and inclusion (DEI) officer, Nissan Americas.
  • “My experience with 100 Black Men and Nissan Ready has been life-changing,” Walker said.

Exxe Group Reports Record Revenue for December 2023 Quarter

Retrieved on: 
Thursday, February 22, 2024

Exxe Group, Inc. (OTC PINK:AXXA), ("Exxe" or the "Company") a diversified fintech company, is pleased to announce that the Company has published its results for the period ended December 31, 2023.

Key Points: 
  • Exxe Group, Inc. (OTC PINK:AXXA), ("Exxe" or the "Company") a diversified fintech company, is pleased to announce that the Company has published its results for the period ended December 31, 2023.
  • Exxe Group experienced a significant Quarter where it completed a review of its US real estate and other contracts, and completed a review of its carrying costs.
  • Dr. Eduard Nazmiev, Exxe Group CEO, stated: "Exxe Group worked hard during the prior Quarter to complete its major review processes and position the company for growth.
  • Exxe Group generated record quarterly revenue.

Cummins promotes five new leaders to vice president

Retrieved on: 
Thursday, February 22, 2024

Cummins Inc. (NYSE: CMI) announced today the appointment of four leaders to the role of vice president, effective March 1 – Ricardo Roman, Michelle Probst, Gbile Adewunmi and Matt McQueen – in addition to Ashwath Ram, who was appointed Vice President in January.

Key Points: 
  • Cummins Inc. (NYSE: CMI) announced today the appointment of four leaders to the role of vice president, effective March 1 – Ricardo Roman, Michelle Probst, Gbile Adewunmi and Matt McQueen – in addition to Ashwath Ram, who was appointed Vice President in January.
  • Ricardo Roman – Vice President, Components Finance
    Roman stepped into the role of Controller for the Components Business Unit in 2022 during a critical period of evolution for the business.
  • Michelle Probst – Vice President, Leadership and Talent Development
    Probst recently expanded her role from Leadership Development to now leading Cummins Talent Development programs and processes globally.
  • Ram oversees the performance of the company’s five business units, including Engine, Power Generation, Distribution, Components and Accelera by Cummins.

Vroom to Release Fourth Quarter and Fiscal Year 2023 Earnings on March 13, 2024

Retrieved on: 
Thursday, February 22, 2024

Vroom, Inc. (Nasdaq: VRM) today announced that it will release its financial results for the fourth quarter and fiscal year ended December 31, 2023 after the market closes on Wednesday, March 13, 2024.

Key Points: 

Vroom, Inc. (Nasdaq: VRM) today announced that it will release its financial results for the fourth quarter and fiscal year ended December 31, 2023 after the market closes on Wednesday, March 13, 2024.

J.D. Power-GlobalData U.S. Automotive Forecast for February 2024

Retrieved on: 
Thursday, February 22, 2024

Spending as a percentage of the average MSRP is expected to increase to 5.3%, up 2.3 percentage points from February 2023.

Key Points: 
  • Spending as a percentage of the average MSRP is expected to increase to 5.3%, up 2.3 percentage points from February 2023.
  • Retail buyers are on pace to spend $40.8 billion on new vehicles, up $1.4 billion from February 2023.
  • “Global light-vehicle sales in 2024 are projected to be 89.1 million units (adjusted for China exports), an increase of 3% from 2023.
  • Global inventory is expected to build slightly in 2024 as production returns to predictable levels and outpaces demand.

Tri Sea Stabilizers Enjoys Triple Win at Seakeeper Annual Dealer Awards

Retrieved on: 
Thursday, February 22, 2024

Last weekend at the Annual Dealer Awards ceremony for Seakeeper Inc., Tri Sea Stabilizers , South Florida’s leading elite dealer for Seakeeper Inc. Refits, Service and Sales, was recognized with an astounding Trifecta Win.

Key Points: 
  • Last weekend at the Annual Dealer Awards ceremony for Seakeeper Inc., Tri Sea Stabilizers , South Florida’s leading elite dealer for Seakeeper Inc. Refits, Service and Sales, was recognized with an astounding Trifecta Win.
  • This marks the first time in Seakeeper history that one dealer has won this many awards in one year.
  • Having been a Seakeeper only dealer for the last seven years, Tri Sea has continually been honored for the quality of their work.
  • Tri Sea Stabilizers performs Seakeeper installs and service in the following locations:

Growth Opportunity in the Global Passenger Vehicle Shift-by-Wire Market - Forecasts to 2030: SBW Industry Faces Transformation and Decline Amid EV Proliferation and Evolving E/E Architecture - ResearchAndMarkets.com

Retrieved on: 
Wednesday, February 21, 2024

The "Growth Opportunity in the Global Passenger Vehicle Shift-by-Wire Market" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Growth Opportunity in the Global Passenger Vehicle Shift-by-Wire Market" report has been added to ResearchAndMarkets.com's offering.
  • This comprehensive study examines the global shift-by-wire (SBW) market from 2022 to 2030, providing insights into growth prospects and their associated implications.
  • This study outlines growth drivers and restraints set to impact regional and global market dynamics.
  • The report explores the SBW technology penetration across different global regions, examining a wide array of factors and emerging market trends.

Rivian Releases Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 22, 2024

Rivian Automotive, Inc. (NASDAQ: RIVN) today announced fourth quarter and year end 2023 financial results.

Key Points: 
  • Rivian Automotive, Inc. (NASDAQ: RIVN) today announced fourth quarter and year end 2023 financial results.
  • Overall, there was a 147 percent increase in deliveries for the fourth quarter of 2023 as compared to the fourth quarter of 2022.
  • Gross profit was $(606) million for the fourth quarter of 2023, an improvement from $(1,000) million for the same quarter in 2022.
  • The decreased Adjusted EBITDA* loss for the fourth quarter of 2023 as compared to the fourth quarter of 2022 was driven by lower gross profit losses.

Haomo raises over RMB 100 million in Series B1 to speed up autonomous driving commercialization

Retrieved on: 
Thursday, February 22, 2024

"As a central district of Chengdu, Wuhou not only has a long history, but also leads in economic development.

Key Points: 
  • "As a central district of Chengdu, Wuhou not only has a long history, but also leads in economic development.
  • “We are optimistic about the development of Haomo and expect the company to consolidate its leading position in mass-produced autonomous driving solutions,” Xie added.
  • As a key player, Haomo will introduce products with greatest value for money to more clients to scale up,” said Zhang Kai, chairman of Haomo.
  • Haomo will continue to strengthen the autonomous driving industry chain and accelerate the commercialization of the autonomous driving technologies,” Zhang added.