Partner Break Ups, EV Glow Ups, Rousing Talk From Lowe’s CEO

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

Welcome to Wednesday campers! Today we talk about the waning partnership between Ford and VW. We also give a broad look at EV news, as well as an automotive-applicable talk from Lowe’s CEO Mervin Ellison

• The EV partnership between Ford and VW that has been a big part of Ford’s EV development in Europe is likely to be short lived
  • The partnership announced in 2020 was for Ford to use VW’s MEB architecture to speed development times by as much as 2 years. The company will be releasing its first vehicle on that platform in March. A small sport crossover of similar to the ID4 in size
  • Ford has since said it will be looking to leverage their own tech that has been foundational in the F150 Lightning and Mach E in future vehicles
  • Telling it like it is - Breaks-ups are never easy. To get your mind off it, try taking up a new hobby, watching your favorite movies, reinventing your electric vehicle platform from scratch, increasing your aggression in the biggest auto market in the world, or call your mom.
    
• EV Check:
  • Corvette gets electrified with iths $104k gas-electric hybrid E-Ray
    • First ever eAWD system with a 160-hp electric motor over the front axle and a 495-hp, 6.2-liter small-block V-8 powering the rear wheels for a combined 655 hp
    • 0-60 in 2.5 seconds. Only .1 faster than the Gas powered Z06
    • Stealth Mode lets drivers silently exit their neighborhood on battery power at up to 45 mph
  • Federal tax credit of up to $4k for used EVs goes into effect
    • Less than 2 years old
    • Under 25k sales price
  • Tesla increases the price of it’s 48 amp level 2 home charger
    • $400 in Nov - $350 in Dec - $425 in January
    • Still one of the least expensive level 2 home charging options
      
• At this year's National Retail Federation Show, Lowe’s successful CEO Mervin Ellison gave a rousing talk on his journey and gave some good advice to any aspiring executives, “...just take tough assignments”
  • Over his 25 year career, the only jobs he has ever taken were roles where someone was either fired or pushed out
  • “Mr. Ellison, who is Black, also noted that “not too many people that look like me” have been able to lead two Fortune 500 companies, also including JCPenney. He also lacked “an elite education from a prestigious education institution” and early access to executive sponsors.”
  • Said his parents were incredibly influential in teaching him perseverance and built his ethic on the pillars, “Put God first, focus on education, and work hard”
  • One of Ellison’s goals is “trying to create a company I wish I could have worked for when I was coming up the ranks.”

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