Each week, JustAuto’s journalists select top tweets that summarise the social media buzz in our sector, underpinned by GlobalData’s analytics. These social media signals help us understand brand sentiments and the themes driving conversations on social platforms. This new, thematic coverage is driven by our underlying Disruptor data which tracks all major deals, patents, company filings, hiring patterns and social media buzz across our sectors.
Faisal Islam, Economic Editor at BBC, applauds Tata’s £4bn investment in an electric vehicle gigafactory in the UK which will supply Jaguar Land Rover and Tata Motors from 2026:
JLR Tata electric vehicle battery plant in the UK.— Faisal Islam (@faisalislam) July 18, 2023
Here We Go… (as @FabrizioRomano might say).
Absolutely vital to ongoing mass car making in the UK… await the details of the deal, but a massive relief. via @BBCSimonJack https://t.co/UQ6PUYkRfa
Tech and EV/AV influencer, Whole Mars Catalog, highlights General Motors-funded Cruise’s poor Q2 performance. Cruise lost in excess of $7m per day in Q2 – nearly enough to wipe out the profits made by GM Finance:
In Q2 2023 Cruise posted $0 in revenue and an adjusted EBIT loss of $600 million.— Whole Mars Catalog (@WholeMarsBlog) July 26, 2023
The company, 80% owned by General Motors, has cash runway for a little less than a year. $GM pic.twitter.com/ghMS50aUbB
Tesla celebrates its record-breaking vehicle production numbers in Q2 and announces the production of Dojo – a training computer that is expected to make neural net training faster and cheaper. The company also announced that Model Y was the best-selling vehicle of any kind in H1 in Europe:
Q2 Shareholder Update https://t.co/rd0ILdpzRL— Tesla (@Tesla) July 19, 2023
In Q2, we produced a record number of vehicles, thanks to ongoing ramps of our new factories & strong performance of Shanghai & Fremont.
Cybertruck equipment installation at Giga Texas is in progress, with deliveries…
At the US’ House of Representatives’ Energy and Commerce Committee hearing on autonomous vehicles, Bob Latta advocated for a federal framework to keep the US at the forefront of autonomous vehicle innovation and counter the influence of China. He said: “Communist China poses an immediate threat to our national security through their use of driver-less cars within our very borders. […] If we do not ensure our laws support innovation, the United States will be forced to consider how to secure our roadways after Communist China has already collected massive amounts of data on our transportation systems.”
American automotive leadership is vital for the future of our national security. But autonomous vehicles aren’t just the future – they are the present – and the harsh reality is the United States is already falling behind on the global stage.— U.S. Rep. Bob Latta (@boblatta) July 27, 2023
My full remarks in @HouseCommerce: pic.twitter.com/7D3Q2xZqPi
Velina Tchakarova, geopolitical strategist, warns in a tweet that Volkswagen’s survival depends on China or a German bailout, with its current operating return of 3.5% deriving exclusively from the parts business and licence income from China. VW’s CEO Thomas Schäfer reportedly told managers in an hour-long meeting on 14th July that the company is letting costs run too high, as it seeks to become a leading manufacturer of EVs.
Things that should keep us all awake in the night in Europe: Germany's #geoeconomics.— Velina Tchakarova (@vtchakarova) July 18, 2023
VW brand boss Thomas Schäfer said about the company's situation: A "perfect storm" is brewing. An impending recession and the fact that the competitors in the volume business earn significantly…