Tesla Robotaxi Event Pushed Back to October 10
Tesla will push back the unveiling of its Robotaxi autonomous vehicle from Aug. 8 to Oct. 10, CEO Elon Musk confirmed Tuesday during the automaker's second-quarter earnings call.
Musk first mentioned the Robotaxi in 2022, and announced the August reveal date in April of this year. But Bloomberg already reported earlier this month that the unveiling of this vehicle, expected to be a self-driving car for ride-sharing services, would be delayed to give engineers more time to work on the prototype.
Musk announced this idea in 2016 and in 2019 said Tesla would provide the infrastructure and support, taking a 25% to 30% cut of the revenue in return. He said at the time that owners would be able to use their cars to give free lifts to friends and family, but that those using their cars to generate revenue would need to do so within the Tesla Network.
Musk also did not answer questions during the earnings call about whether the Robotaxi would have a steering wheel and pedals, The Verge reported. General Motors just this week confirmed that its Cruise self-driving technology company would no longer use the Origin, an EV designed without manual controls, for a planned taxi service, opting for a modified version of the next-generation Chevrolet Bolt EV instead.
Before Musk consistently discussed a purpose-built autonomous vehicle, the executive repeatedly promised that Tesla owners would one day be able to rent out their cars as taxis via service called the Tesla Network.
All of this is dependent on Tesla developing an autonomous-driving system capable of replacing a human driver. The automaker's current Full-Self Driving system is in fact a driver-assist system ranked at Level 2 on the SAE scale of self-driving capability. The misleading name, as well as performance issues, have attracted scrutiny from regulators. Now, Tesla may be complicating things further by designing an entirely new vehicle around the tech.
Advance Auto Parts Sheds their Worldpac Wholesale Business Unit to The Carlyle Group for $1.5B
Advance Auto Parts has agreed to sell its Worldpac wholesale business unit to The Carlyle Group for $1.5 billion in cash, as carveouts fall slightly from their recent peak. The deal will allow Advance to focus on its core business and free up financial flexibility, while Caryle expects to apply its expertise with carveouts, particularly in the industrials sector, to the unit that generated $2.1 billion in revenue and around $100 million in EBITDA in the twelve months through the end of Q2.
Worldpac imports parts directly from the respected OE manufacturers in the automotive industry. Sourcing the original parts from the original manufacturers ensures the precise fit and easy installation the first time, as well as the quality that maintains the integrity of the vehicle. To enhance their OEM import and domestic product offering, they also provide products from the highest quality aftermarket suppliers.
Worldpac was formed in 1995 as a result of several acquisitions of the top tier import companies spanning over 30 years of service in the import aftermarket. Worldpac imports and distributes original equipment (OE) and quality aftermarket replacement automotive parts for the independent service professional. They offer more than 110,000 part numbers at one source for 41 import and domestic carlines. Their exclusive online catalog and fulfillment ordering software (speedDIAL) contains more than 7 million import and domestic multiple brand applications for virtually every automotive make and model.
As of August 2024 Advance Auto Parts has a market cap of $3.70 Billion. Advance main competitors are Advanced Auto Repair, Copart, and Genuine Parts. First quarter 2024 net sales totaled $3.4 billion; a 0.3% decrease compared with the first quarter of the prior year.
Carlyle has been active in carving out industrial assets, allocating $13 billion to the strategy over the past two decades, with notable deals including Axalta, Atotech and Signode. The Carlyle Group Inc. is an American multinational private equity, alternative asset management and financial services corporation based in the United States with $426 billion of assets under management. It specializes in private equity, real assets, and private credit. It is one of the largest mega-funds in the world. In 2015, Carlyle was the world's largest private equity firm by capital raised over the previous five years, according to the PEI 300 index. In the 2024 ranking however, it had slipped to sixth place.
MONTEREY CAR WEEK 2024
An Annual Celebration of Automotive Excellence
Concours d’Elegance
World Renowned
The 2024 Pebble Beach Concours d’Elegance will celebrate an expanded range of cars stretching from pioneering Packards and the Speedsters equated with that 125-year-old marque to the supercars that raced in the BPR & FIA GT Series of the 1990s. A focus on the creations of Maserati and the coachwork of Pietro Frua add an Italian accent, and Wedge concepts offer a distinctly modern look.
The Pebble Beach Concours d'Elegance is an annual automotive event held on the Pebble Beach Golf Links in Pebble Beach, California. It is widely considered the most prestigious car show in the world and it is the pinnacle Concours d'Elegance competition worldwide.
Monterey Car Week is an annual celebration of automotive excellence, featuring an abundance of events dedicated to classic cars, luxury automobiles and motorsports. Highlights include prestigious car shows such as the Pebble Beach Concours d’Elegance, exclusive gatherings like The Quail, A Motorsports Gathering, vintage racing at the Rolex Monterey Motorsports Reunion and high-profile automotive auctions like RM Sotheby's Auction.
Friday, August 9 - Sunday, August 18, 2024
The annual Rolex Monterey Motorsports Reunion is a museum revving to life with hundreds of historic and period-correct race and sports cars from nearly every era. Yet, they are not for show. Drivers race them in corresponding run groups to enjoy them at speed and for the entertainment of thousands of enthusiastic visitors. Experience rare cars firing up, being worked on, and driven as they were originally intended.
The Quail
For over twenty years, The Quail, A Motorsports Gathering has presented an astonishing and exclusive experience for motorsport enthusiasts and collectors alike. Many travel from around the world to enjoy rare collections of fine automobiles and motorcycles in a garden-party setting on the rolling greens of Quail Lodge & Golf Club.
Bonhams Auction
Held in conjunction with The Quail, A Motorsports Gathering, is the 27th Annual Bonhams "The Quail Auction" on the western grounds of Quail Lodge & Golf Club.
For more information, click here.
RM Sotheby's Auction will be at the Monterey Conference Center, Monterey, CA 93940 from August 15, 2024 - August 17, 2024
DETROIT AUTO TECH 2025
The Future of Automotive Technology
AutoTech Awards
OEM Attendees
An event that highlights the incredible advancements and achievements in the world of automotive technology, including the Informa Tech Automotive Awards, Wards 10 Best Interiors & UX Awards, and award-winning vehicle displays and tours. Automotive Inspire Interviews, where industry leaders will share their insights and stories.
OEM attendees include Audi, Arrival, Bentley, BMW, Daimler, Faraday Future, Ford, GM, Genesis, Honda, Hyundai, Karma, Land Rover, Lincoln, Lucid, Maserati, Mazda, Mercedes, Nissan, Rivian, Subaru, Stellantis, Tata Motors, Tesla, Toyota, VW, Volvo and Yazaki.
Attendees include academics who are often at the forefront of cutting-edge research on emerging technologies that have potential applications within the automotive tech sector; Department of Transportation representatives from each state, with particular emphasis on Michigan, California, Ohio, Illinois and Texas; and C-level, VP, Director, Head of, Product and Tech, Cockpit, Design and Creative, Engineering, Sales and Marketing, Digital experience, Research and Development, and Connectivity and Infotainment.
June 4-5, 2025, Suburban Collection Showplace, Novi, MI
See the latest products and innovations geared towards making our vehicles safer and more efficient and cutting-edge connected vehicles and emerging technologies in the automotive industry.
Tier 1 Attendees
Tier 1 attendees may include 3M, Alpine, Antolin, AsahiKasei, Autolic, Bosch, Bridgeston, Continental, Delphi, Denso, Forvia, Harman, Johnson Controls, Joyson, Lear, Magna, Misubishi Electric, Nexteer, Panasonic, Saint-Gobain, TekDrv, Tenneco, ThyssenKrupp, Valeo, Yanfeng,and ZE.
Prior Event Recap
23% audience increase year-over-year. 120 sponsors and exhibitors, 2,000 attendees, 136 speakers, 30% OEM's and Tier 1s, 65 VIP meetings delivered, 21 media partners, 6,110,904 marketing universe.
For more information, click here.
Tech & Comms attendees may include Amazon, Apple, At&T Business, Comcast, Google, Microsoft, T-Mobile For business and Verizonl be at the Monterey Conference Center, Monterey, CA 93940 from August 15, 2024 - August 17, 2024
KARMA KAVEYA EV
A New 1,180-hp Electric Hyper GT coupe
Karma Automotive
Karma Automotive is a privately owned American luxury electric vehicle company founded in 2014 and now owned by Chinese conglomerate Wanxiang Group. Karma dealerships have now sprang up in over 20 west coast, central and east coast locations, from Murireta, CA, to Las Vegas, NV, to Miami, FL.
1,180-hp Electric
Karma is preparing to reinvigorate itself as a truly high-end, all-electric and all-American vehicle manufacturer with a new hyper GT coupe: The 2026 Karma Kaveya EV.
Despite its 5,300-pound estimated curb weight, the Kaveya is nimble and stable and is scheduled for a 2026 model year release date.
The idea of the Kaveya was to bring back the traditional design of an American GT coupe. This explains the similarity to the C7 Corvette and other familiar American coupes within the GT vehicle space. Overall, it's a beautiful design and one that will be familiar with many U.S. buyers.
Just like the Revero and Gyesera, the Kaveya will use a T-shaped battery pack. This comes with an interesting advantage that will help it be the Hyper GT vehicle Karma envisions. The bulk of the pack is located within the center console and then extends to the sides just behind the seats. The battery capacity of the Kaveya will be 120 kWh and capable of DC Fast Charging with a 10 to 80 percent charge time estimate of around 45 minutes. This pack is also estimated to take the Kaveya over 250 miles on a single charge.
American Made
Just like the Revero and upcoming all-electric Gyesera, the Karma Kaveya will be manufactured not far from the Irvine, California headquarters of Karma Automotive in Moreno Valley. This means that, while funded by the Chinese-based Wanxiang Group, the Kaveya is seemingly an American made and designed vehicle.
Poetry in Motion
The name "Kaveya" comes from a modified version of the Sanskrit word, "Kavya," for "poetry in motion." The additional "E" is Karma's way of making it theirs and signifies that it is an all-electric vehicle.
BUILT-IN NAVIGATION SYSTEMS PHASING OUT?
Will Apps replace built-in navigation systems?
Apps More User-Friendly
Ferrari is phasing out built-in navigation systems from its cars, leaving owners to rely on phone navigation or other portable navigation devices for finding their way around. While it was standard for years, Ferrari's Purosangue SUV and the upcoming 12Cilindri supercar skip a built-in navigation system, and future models will, too.
1,180-hp Electric
Karma is preparing to reinvigorate itself as a truly high-end, all-electric and all-American vehicle manufacturer with a new hyper GT coupe: The 2026 Karma Kaveya EV.
Despite its 5,300-pound estimated curb weight, the Kaveya is nimble and stable and is scheduled for a 2026 model year release date.
More and more automakers are continuing to adopt Android-based operating systems for their respective infotainment systems, similar to GM, while Apple is looking to take over the whole dash, including the digital gauge cluster, with the next-generation version of CarPlay. Apple last week previewed the system, which will enable automakers to use their own designs when CarPlay is activated, for example for the gauge cluster, infotainment system, and digital controls for such functions as climate settings.
Just like the Revero and Gyesera, the Kaveya will use a T-shaped battery pack. This comes with an interesting advantage that will help it be the Hyper GT vehicle Karma envisions. The bulk of the pack is located within the center console and then extends to the sides just behind the seats. The battery capacity of the Kaveya will be 120 kWh and capable of DC Fast Charging with a 10 to 80 percent charge time estimate of around 45 minutes. This pack is also estimated to take the Kaveya over 250 miles on a single charge.
GM Favoring Built-In
While Ferrari is doubling down on smartphone mirroring systems, other automakers are backing away from them. General Motors has skipped the technology on its latest electric vehicles, which come with their own Android-based operating system featuring Google Maps. Other companies such as Rivian and Tesla have also shunned the technology in favor of their own operating systems and navigation systems.
Poetry in Motion
The name "Kaveya" comes from a modified version of the Sanskrit word, "Kavya," for "poetry in motion." The additional "E" is Karma's way of making it theirs and signifies that it is an all-electric vehicle.
2025 POLESTAR 3
A New 510-hp Electric SUV
High-End SUV
The SUV’s cabin is rich, with a clean design and high-end materials. Power is more than ample in the base 483-hp all-wheel-drive model. The optional Performance trim boosts it to 510-hp and adds unique 22-inch wheels, summer tires, and a tweaked suspension system.
Price Point
The 2024 Polestar Polestar 3 is expected to start around $69,000 and go up to $81,300, depending on the trim and options. This price point is in line with the Jaguar I-Pace and the BMW iX.
Despite its 5,300-pound estimated curb weight, the Kaveya is nimble and stable and is scheduled for a 2026 model year release date.
Tech features such as adaptive cruise control with lane-centering and a head-up display are on every model and if you want high-end luxury touches such as a 25-speaker Bowers & Wilkins stereo and soft-closing doors, the optional Plus package provides this and more. A large 14.5-inch infotainment display is standard and runs Polestar’s latest Google-based infotainment interface. A secondary 9.0-inch display serves as the Polestar 3’s gauge cluster.
Polestar says the Performance model will sprint to 60 mph in 4.5 seconds. All models come with the same 107.0-kWh battery pack that can charge at up to 250 kW on a DC fast-charging connection. Polestar says that is enough to get the battery charged from 10 to 80 percent in as little as 30 minutes.
Decent Range
The driving range is a decent 315 miles per charge for the standard model and 279 miles for the Performance, and both can be charged quickly via a DC fast charging connection.
Made in America
The Polestar 3 is the third entry in Polestar's slowly expanding lineup and the brand’s first SUV model. The 3 will also be the first Polestar built in America, joining the Volvo S60 sedan and next-gen Volvo XC90 SUV at Volvo's new plant in South Carolina.
While it still shares much hardware and software with parent Volvo, it is definitely next-generation tech that is blended with a unique design aesthetic and a greater emphasis on performance.
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