18 min
Tesla Blowout Sale, Toyoda Is Back On Stage, Walmart’s People First Tech The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier
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- Business
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It’s Friday, friends and today we’re talking about Hertz’s big move away from EVs. We also talk about Toyota’s move to keep the ICE alive, as well as Walmart’s new tech announcements are all-in on human helpfulness.
Once a major proponent of EV adoption Hertz, is now selling a third of its EV fleet due to lower than expected demand, signaling a broader industry retreat from rapid EV expansionThis marks a significant reversal from its 2021 commitment to purchase 100,000 Tesla EVs, a move that previously boosted both companies' stock values.The industry's cooling on EVs reflects consumer concerns over limited charging infrastructure, battery range, and high prices, leading to slowed sales growth.Despite early enthusiasm, including a deal for 65,000 cars from Polestar and 175,000 from GM, Hertz faces higher EV repair costs and depreciating fleet values, partly due to Tesla's price cuts.Hertz plans to offset the $245 million cost from selling 20,000 EVs by purchasing more internal combustion engine vehicles, aiming for better profitability and the company also lowered its financial outlook for the year, citing additional costs primarily associated with EVs.On their site you can see there are a number of Tesla Model 3 sedans priced around 18k, meaning that after the federal tax credit, you can get a used tesla from Hertz for as low as 14k
Former CEO and current Chairman of Toyota, Akio Toyoda is back championing the ongoing relevance of internal combustion engines, asserting their vital role in achieving carbon neutrality and preserving automotive tradition meanwhile confirming the company’s progress toward a lower cost, solid state EV battery with 750 miles of range and a 10 minute charge time. "Should we not all have enthusiasm for cars as we take on the challenge," Toyoda stated at the Tokyo Auto Salon where Toyota and Lexus showcased several high-performance vehicles. Toyoda, advocating for a balanced approach to carbon neutrality in the automotive sector while developing EVs emphasizing the importance of preserving jobsThe company says we can expect to see some of these fast charging, longer range, lower cost batteries as early as 2027
Meanwhile at CES, Walmart CEO Doug McMillon showcased the company's "people-led, tech-powered" strategy, emphasizing new AI and AR technologies while underscoring the importance of human engagement in the digital era.“We build technology to serve people and not the other way around,” McMillon stated, reaffirming Walmart's commitment to a human-centric approach in its technological evolution.Drone delivery expansion in Dallas-Fort Worth is part of Walmart's omnichannel approach providing service to an addition 1.8M households…75% of the market areaHosts: Paul J Daly and Kyle Mountsier
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JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/
Read our most recent email at: https://www.asotu.com/media/push-back-email
Shoot us a Text.
It’s Friday, friends and today we’re talking about Hertz’s big move away from EVs. We also talk about Toyota’s move to keep the ICE alive, as well as Walmart’s new tech announcements are all-in on human helpfulness.
Once a major proponent of EV adoption Hertz, is now selling a third of its EV fleet due to lower than expected demand, signaling a broader industry retreat from rapid EV expansionThis marks a significant reversal from its 2021 commitment to purchase 100,000 Tesla EVs, a move that previously boosted both companies' stock values.The industry's cooling on EVs reflects consumer concerns over limited charging infrastructure, battery range, and high prices, leading to slowed sales growth.Despite early enthusiasm, including a deal for 65,000 cars from Polestar and 175,000 from GM, Hertz faces higher EV repair costs and depreciating fleet values, partly due to Tesla's price cuts.Hertz plans to offset the $245 million cost from selling 20,000 EVs by purchasing more internal combustion engine vehicles, aiming for better profitability and the company also lowered its financial outlook for the year, citing additional costs primarily associated with EVs.On their site you can see there are a number of Tesla Model 3 sedans priced around 18k, meaning that after the federal tax credit, you can get a used tesla from Hertz for as low as 14k
Former CEO and current Chairman of Toyota, Akio Toyoda is back championing the ongoing relevance of internal combustion engines, asserting their vital role in achieving carbon neutrality and preserving automotive tradition meanwhile confirming the company’s progress toward a lower cost, solid state EV battery with 750 miles of range and a 10 minute charge time. "Should we not all have enthusiasm for cars as we take on the challenge," Toyoda stated at the Tokyo Auto Salon where Toyota and Lexus showcased several high-performance vehicles. Toyoda, advocating for a balanced approach to carbon neutrality in the automotive sector while developing EVs emphasizing the importance of preserving jobsThe company says we can expect to see some of these fast charging, longer range, lower cost batteries as early as 2027
Meanwhile at CES, Walmart CEO Doug McMillon showcased the company's "people-led, tech-powered" strategy, emphasizing new AI and AR technologies while underscoring the importance of human engagement in the digital era.“We build technology to serve people and not the other way around,” McMillon stated, reaffirming Walmart's commitment to a human-centric approach in its technological evolution.Drone delivery expansion in Dallas-Fort Worth is part of Walmart's omnichannel approach providing service to an addition 1.8M households…75% of the market areaHosts: Paul J Daly and Kyle Mountsier
Get the Daily Push Back email at https://www.asotu.com/
JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/
Read our most recent email at: https://www.asotu.com/media/push-back-email
18 min