- Lucid Stock Up 24% On Big Investment - Ford Q2: Investors Like What They’re Hearing - Earthquake Shuts Some Japan Production - Nissan and Honda to Share Software Development - Audi’s Giant Q9 SUV - BMW To Axe Another 8,000 Jobs - Audi Workers Protest Plant Closing - Chinese Co to Make 300,000 Axial Flux Motors - Mahle’s Hydrogen ICE Tech

AD #4344 - Lucid Stock Up 24% On Big Investment; Mahle’s Hydrogen ICE Tech; Chinese Co to Make 300,000 Axial Flux Motors

Autoline Daily - Video

This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry. Sean's on vacation but should be back again tomorrow. Last week, Lucid was in the news as rumors swirled through the industry that it might file for bankruptcy. The stock was down 58% for the year. But then yesterday, a Saudi prince, Al-Walid Bin Talal Bin Abdulaziz, bought 5% of the company. Man, I like saying that name.

And buying that 5% was enough to get everybody to jump into the pool. When the market closed yesterday, Lucid Stock had shot up 24%. Abdulaziz, by the way, is a billionaire. He's a member of the royal family and he's often called the Arabian Warren Buffett. Ford reported its Q2 numbers, which are a mixed bag of ups and downs.

It sold just over a million vehicles in the last three months, down 12%, primarily due to discontinued models like the Ford Escape and due to production shortages with the F-150 because of an aluminum shortage. Lower sales dragged down revenue by close to 4%. And yet the company boosted its operating profit 25% to $638 million. That's a pretty good achievement.

But the bottom line looked bad. Ford lost $1.3 billion. But that was mostly due to a $3.6 billion write down of its battery joint venture with SK. With that write down out of the way, Ford actually increased its guidance for the rest of the year, saying it will make up to $11 billion in EBIT and generate up to $7 billion in free cash flow.

AD #4344 - Lucid Stock Up 24% On Big Investment; Mahle’s Hydrogen ICE Tech; Chinese Co to Make 300,000 Axial Flux Motors

Read the full transcript

The candid version is on a podcast,
not the earnings call.

AD #4344 - Lucid Stock Up 24% On Big Investment; Mahle’s Hydrogen ICE Tech; Chinese Co to Make 300,000 Axial Flux Motors

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.