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Hertz to buy some 175,000 GM EVs through 2027

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A Chevrolet Bolt EUV is seen on a sales lot in Colma, California in October 2021
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US rental car giant Hertz will buy up to 175,000 electric vehicles from General Motors by the end of 2027, the companies announced Tuesday, as the auto industry grapples with concerns over climate change and petroleum dependency.

First deliveries, which will consist of BOLT EVs and EUVs, should take place in the first quarter of 2023, according to the joint statement.

Subsequent purchases will depend on how fast General Motors (GM) ramps up production of electric vehicles. The automaker says it plans to manufacture one million a year in North America by 2025. 

Hertz will be able to select from GM’s Chevrolet, Buick, GMC, Cadillac and BrightDrop EV brands, according to the press release.

“With the vehicle choice, technology and driving range we’re delivering, I’m confident that each rental experience will further increase purchase consideration for our products and drive growth for our company,” GM CEO Mary Barra said.

Hertz, which is aiming for one-quarter of its fleet to be comprised of electric vehicles by 2024, has already signed agreements for 100,000 Teslas and 65,000 Polestars, an electric car firm controlled by Sweden’s Volvo and its Chinese owner Geely.

While gasoline-powered cars still dominate US roads, auto giants are unveiling more and more EVs as they pump billions of dollars in investment in a bid to wrest control of a growing market from Tesla and newer upstarts.

In addition to its agreement with Hertz, GM announced Tuesday it has entered into a partnership with the Environmental Defense Fund to ensure that at least 50 percent of its new vehicles sold by 2030 are zero emitting.

The end goal is to eliminate all tailpipe emissions from passenger vehicles sold by GM by 2035, Barra said.

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UK eyes big TikTok fine over child privacy lapse

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A UK regulator said TikTok ay have processed the data of children under the age of 13 without appropriate parental consent
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Britain on Monday warned it could fine TikTok £27 million ($29 million) over a potential failure to protect children’s privacy on the Chinese-owned video app.

The Information Commissioner’s Office said the social media company “may have processed the data of children under the age of 13 without appropriate parental consent”.

The ICO also found that the short-form video platform may have “failed to provide proper information to its users in a concise, transparent and easily understood way”.

The watchdog has served the group with a notice of intent — which is a legal document that precedes a possible fine — over the possible breach of UK data protection law.

“We all want children to be able to learn and experience the digital world, but with proper data privacy protections,” said Information Commissioner John Edwards.

“Companies providing digital services have a legal duty to put those protections in place, but our provisional view is that TikTok fell short of meeting that requirement.”

In response, TikTok said it disagreed with the ICO’s provisional views and stressed that no final conclusions had been reached.

“While we respect the ICO’s role in safeguarding privacy in the UK, we disagree with the preliminary views expressed and intend to formally respond to the ICO in due course,” TikTok said in a statement.

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Apple to make iPhone 14 in India in shift away from China

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The Apple logo at a store in New York
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Apple will manufacture its new flagship smartphone in India, the US tech giant said Monday, as it seeks to diversify production away from a dependence on China.

The iPhone supply chain is based mainly in China but the country’s zero-Covid policies and tensions with the United States have hurt production, analysts say.

“We’re excited to be manufacturing iPhone 14 in India,” Apple said in a brief statement.

The California-based firm already makes older iPhone models in India via Taiwanese manufacturers such as Foxconn, which has a factory in the southern state of Tamil Nadu.

The latest announcement comes just weeks after Apple launched new smartphones. The tech behemoth is commencing production of the iPhone 14 in India much earlier than it did for previous models, Canalys analyst Sanyam Chaurasia said.

“Over the last couple of years, it has been increasingly diversifying its supply chain to India,” Chaurasia told AFP.

About 7.5 million iPhones — around three percent of Apple’s global production — were made in India last year, the analyst added.

“We expect that the local production of iPhones could reach more than 11 million this year,” he said.

Apple’s announcement will be a boost to Prime Minister Narendra Modi’s “Make in India” strategy under which he has urged foreign businesses to manufacture goods in the South Asian nation.

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US charges Boeing with misleading investors on 737 MAX safety, fined $200 mn

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US regulators say Boeing and its former CEO 'put profits over people,' misleading the public about the safety of the 737 MAX aircraft
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US securities officials fined Boeing $200 million over the aviation giant’s misleading assurances about the safety of the 737 MAX airplane following two deadly crashes, regulators announced Thursday.

Boeing agreed to the penalty to settle charges it “negligently violated the antifraud provisions” of US securities laws, the Securities and Exchange Commission said in a statement, saying the company and its leader “put profits over people.”

Boeing’s former chief executive, Dennis Muilenburg, also agreed to pay $1 million to settle the same charges in the civil case.

The settlement marks the latest hit to Boeing over the MAX following the Lion Air Crash in Indonesia in October 2018 and the Ethiopian Airlines crash in Ethiopia in March 2019, which together claimed nearly 350 lives. 

One month after the first crash, a Boeing press release approved by Muilenburg “selectively highlighted certain facts,” implying pilot error and poor aircraft maintenance contributed to the crash.

The press release also attested to the aircraft’s safety, not disclosing that Boeing knew a key flight handling system, the Maneuvering Characteristics Augmentation System (MCAS), posed safety issues and was being redesigned.

After the second crash, Boeing and Muilenburg assured the public that there was “no surprise or gap” in the federal certification of the MAX despite being aware of contrary information, the SEC said.

– Boeing ‘failed’ –

“In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair, and truthful disclosures to the markets,” said SEC Chair Gary Gensler in a press release. 

“The Boeing Company and its former CEO, Dennis Muilenburg, failed in this most basic obligation. They misled investors by providing assurances about the safety of the 737 MAX, despite knowing about serious safety concerns.”

The SEC said both Boeing and Muilenburg, in agreeing to pay the penalties, did not admit or deny the agency’s findings.

Boeing said the agreement “fully resolves” the SEC’s inquiry and is part of the company’s “broader effort to responsibly resolve outstanding legal matters related to the 737 MAX accidents in a manner that serves the best interests of our shareholders, employees, and other stakeholders,” a company spokesman said.

“We will never forget those lost on Lion Air Flight 610 and Ethiopian Airlines Flight 302, and we have made broad and deep changes across our company in response to those accidents.”

US air safety authorities cleared Boeing’s 737 MAX to resume service in November 2020 following a 20-month grounding after the crashes.

A principal cause of the two crashes was identified as the MCAS, which was supposed to keep the plane from stalling as it ascended but instead forced the nose of the plane downward. The Federal Aviation Administration required Boeing to upgrade this system to address the flaw.

In January 2021, Boeing agreed to pay $2.5 billion to settle a US criminal charge over claims the company defrauded regulators overseeing the 737 MAX.

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