Today's NADA End-of-Day Auto News Recap - January 23, 2019; Ford, Porsche, Toyota, BMW/Volkswagen
NADA End-of-Day Automotive News Recap
Ford Motor Co. is trying to drive past a difficult 2018 with a slate of new vehicles and an aggressive overhaul of its operations, but with the problems that plagued the iconic carmaker last year poised to remain in 2019, analysts are skeptical of the company's promise to improve earnings.
Source: Fox Business
Germany's top carmakers including BMW and Volkswagen are looking at ways to speed up development of the next generation of self-driving cars, possibly by even working together, as tech giant Google forges ahead with plans to mass produce such vehicles.
Toyota and Panasonic have announced a joint venture to design and build batteries for electric vehicles, or EVs. Toyota will own 51% of the venture while Panasonic will hold the other 49%. The two companies will combine their existing equipment, personnel, and other assets for the joint venture, which is expected to employ 3,500 workers and start by 2020.
Porsche is already having to double its production plan on the electric car it hasn't even released yet. The German carmaker known for its sports cars and racing heritage said stronger-than-expected demand has led it to boost production on its electric Taycan car from 20,000 to 40,000 units, the company confirmed to CNBC on Wednesday.