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| Intersection quiz: Who said what? |
It’s the end of the school year. Time for the first “Intersection” exam. Match the automaker leader with his quote. Scroll down to the bottom of this newsletter for the answers. No cheating!
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You’ll find stories or Q&As with all five of these quotes in Monday’s issue.
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Coming Monday in Automotive News:
Toyota’s new idea in a world gone gaga over EVs: Toyota President Akio Toyoda recently unveiled the automaker’s new idea in carbon-neutral tech: a hydrogen-burning engine. Hydrogen combustion can be less expensive than fuel cells, and it can piggyback on existing internal combustion components, saving jobs and reducing complexity. Is this a fig leaf for Toyota’s seemingly reluctant shift into battery-electrics? Or can it give internal combustion a new lease on life?
Ford’s commercial business is about to take a leading role: Ford’s fleet operations have generally gotten less publicity than its higher-profile retail business. But now commercial vehicles are a key pillar of CEO Jim Farley’s “Ford+” growth plan. The company will create a standalone business unit called Ford Pro to cater to commercial buyers as it prepares to launch EV versions of the Transit van and F-150 pickup. The goal is to nearly double the $27 billion it earned in 2019 from revenue tied to commercial hardware and adjacent services by 2025. Ford shares surged to a five-year high after its Capital Markets Day event last week.
Weekend headlines
VW plans to appoint two new COOs to boost synergies among brands: VW CEO Herbert Diess aims to reduce overlap between brands and find more synergies as he pushes to improve profitability.
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More Ford EVs on tap: Ford said it will offer electric versions of its Explorer and Aviator and that its new, dedicated EV architecture would also underpin battery-powered midsize pickups and “rugged SUVs.” No timeline was given as to when the Explorer and Aviator EVs would go into production.
Lithia hits Vegas: Lithia Motors acquired four Hyundai and Genesis dealerships in the Las Vegas market as the dealership group continues its expansion. Terms weren’t disclosed but the stores are expected to add $225 million in annual revenue.
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A selection from Shift and Daily Drive:
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June 1, 1934: The name of Jidosha Seizo Co. in Yokohama, Japan, changes to Nissan Motor Co. when Nihon Sangyo Co. became the 100 percent investor at the general meeting of stockholders.
The answers:
1. B. Nissan U.S. sales and marketing chief Michael Colleran, discussing the brand’s rebound plan.
2. D. Mercedes-Benz USA CEO Dimitris Psillakis, responding to a question about whether Mercedes would consider an online-only sales model for electric vehicles.
3. C. Ford CEO Jim Farley, speaking about Ford Pro, a new standalone unit aimed at commercial-vehicle customers.
4. E. General Motors’ North America President Steve Carlisle, answering a question about the future of gasoline-powered engines amid the company’s transition to EVs.
5. A. Toyota Motor North America CEO Ted Ogawa, reflecting on a first year that included a pandemic, social unrest and a historic winter storm in Texas.