Shares of automakers after President-elect Donald Trump’s victory.

“Advanced Clean Cars II” regulations of 2022 call for 35% of 2026 model year vehicles, which will begin to be introduced next year, to be zero-emission vehicles. Battery-electric, fuel cell and, to an extent, plug-in hybrid electric vehicles qualify as zero emission.

Before the election, automotive officials said regardless of who won the White House, many automakers will push for the mandates to be postponed.

The California Air Resources Board reports 12 states and Washington, D.C., have adopted the rules; however, roughly half of them did so starting with the 2027 model year. They are part of CARB’s Advanced Clean Cars regulations that require 100% of new vehicle sales in the state of California to be zero-emission models by 2035.

EVs made up 10% or more of local market shares in just 11 states and the District of Columbia to begin this year, according to the Alliance for Automotive Innovation, a trade association and lobby group that represents most major automakers operating in the U.S.

Auto executives and industry experts also expect Trump could roll back or freeze the Corporate Average Fuel Economy, or CAFE, standards for model years 2027-2031.

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]]> https://thenewshub.in/2024/11/06/what-trumps-election-to-the-white-house-could-mean-for-evs/feed/ 0 https://thenewshub.in/2024/10/29/harris-vs-trump-auto-insiders-weigh-in-on-both-candidates-top-issues/ https://thenewshub.in/2024/10/29/harris-vs-trump-auto-insiders-weigh-in-on-both-candidates-top-issues/?noamp=mobile#respond Tue, 29 Oct 2024 17:00:01 +0000 https://thenewshub.in/2024/10/29/harris-vs-trump-auto-insiders-weigh-in-on-both-candidates-top-issues/

New Ford F-150 trucks go through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. 

Bill Pugliano | Getty Images

DETROIT — The automotive industry has become a crucial topic during the 2024 presidential election as Michigan — home of the Motor City and 1.1 million automotive jobs — remains a critical swing state.

Vice President Kamala Harris, former President Donald Trump, and their running mates and supporters have made Michigan a second home in recent weeks as the campaigns attempt to win over undecided voters in the Great Lakes State.

Since 2008, whichever candidate has won the state has moved into the White House, including Trump in 2016 and President Joe Biden in 2020.

“Michigan’s 16 electoral votes have helped thrust Autos into the debate. Between Trump’s hyperactive and contradictory statements and Harris’ quieter views lay deep differences but also convergence,” Jefferies analyst Philippe Houchois wrote in an investor note Monday.

While major automakers and suppliers have shied away from publicly endorsing either presidential candidate, executives and lobbyists from several companies spoke to CNBC on the condition of anonymity to discuss how they’re preparing for each candidate, as well as a likely divided Congress.

Electric vehicles, trade, tariffs, China, emissions regulations and labor are among the top issues automakers are monitoring, according to industry executives and policy experts.

union President Shawn Fain who has been a combative foe to automakers, is concerning to some.

US Vice President and Democratic presidential nominee Kamala Harris greets union workers as she tours an International Union of Painters and Allied Trades training facility in Macomb, Michigan, on October 28, 2024. 

Drew Angerer | AFP | Getty Images

If Trump wins reelection, automotive industry officials largely expect that he’ll return to policies and actions from his first presidential term, but those stances could be potentially more aggressive than they were before.

If he’s in office, insiders expect he would roll back or eliminate tightening federal emissions and fuel economy like he did during his first term; renew a battle between California and other states that set their own standards; and potentially enact funding changes to the Biden administration’s key Inflation Reduction Act of 2022 legislation.

Officials said it would be difficult for Trump to completely gut the IRA, but he could defund or limit EV subsidies through executive orders or other policy actions.

Automakers, suppliers and other auto-related companies are preparing for both outcomes as well as a split in Congress, insiders said.

Republican presidential nominee and former U.S. President Donald Trump speaks as he visits a campaign office in Hamtramck, Michigan, U.S. October 18, 2024. 

Brian Snyder | Reuters

“There’s no perfect scenario. Both candidates offer some opportunities and challenges,” said a leading lobbyist and public policy expert for a major automaker. “Everyone in our business has to look at the gamut of scenarios.”

Some Wall Street analysts speculate legacy automakers — specifically the “Detroit” companies General Motors, Ford Motor and Chrysler parent Stellantis — would benefit most with Trump and Republican control of Congress.

EV startups such as Rivian Automotive and Lucid Group would benefit more with a Democratic win, largely due to expected plans involving EVs and fuel economy requirements. That’s despite Tesla CEO Elon Musk‘s continued support for Trump.

“Advanced Clean Cars II” regulations of 2022 call for 35% of 2026 model year vehicles, which will begin to be introduced next year, to be zero-emission vehicles. Battery-electric, fuel cell and, to an extent, plug-in hybrid electric vehicles qualify as zero emission.

The California Air Resources Board reports 12 states and Washington, D.C., have adopted the rules; however, roughly half have them starting for the 2027 model year. They are part of CARB’s Advanced Clean Cars regulations that include mandating 100% of new vehicle sales be zero-emission models by 2035.

Only 11 states and the District of Columbia had an EV market share above 10% to begin this year, according to the Alliance for Automotive Innovation, a trade association and lobby group that represents most major automakers operating in the U.S.

Officials said regardless of who wins the White House, many automakers will push for the CARB mandates to be postponed. They also would expect Trump to roll back or freeze the Corporate Average Fuel Economy, or CAFE, standards for model years 2027-2031.

Several automotive insiders said they expect Harris would work on a middle ground for such standard with the automakers, much like Biden, to an extent, has done.

talking point for Democrats four years ago to a rallying call for Republicans.

Republicans, led by Trump, have largely condemned EVs, saying that they are being forced upon consumers and that they will ruin the U.S. automotive industry. Trump has vowed to roll back or eliminate many vehicle emissions standards under the Environmental Protection Agency and incentives to promote production and adoption of the vehicles.

In contrast, Democrats, including Harris, have historically supported EVs and related incentives.

Harris hasn’t been as vocal about backing EVs lately amid slower-than-expected consumer adoption of the vehicles and consumer pushback. She has said she does not support an EV mandate such as the Zero-Emission Vehicles Act of 2019, which she co-sponsored during her time as a senator, that would have required automakers to sell only electrified vehicles by 2040.

Lucid Group CEO Peter Rawlinson told CNBC on Monday that regardless of which presidential candidate wins the election, he believes America’s EV industry is still in its infancy and needs to continue to be “nurtured.”

Rawlinson, whose company has the most efficient EVs on sale, also argues the IRA should favor not just the size of a battery, like it currently does, but the efficiency of the vehicles.

“That’s effectively incentivizing electron-guzzling EVs,” he said. “It actually incentivized to put more batteries in and be less efficient.”

negotiated under Trump’s first term in office and took effect in 2020. However, the former president and Democrats have said it needs to be improved to better support American automotive production.

While Trump touted the deal when it was renegotiated, Harris was one of 10 U.S. senators who voted against USMCA at the time.

GM CEO Mary Barra last week said the automaker is “paying careful attention” to the election, including how potential changes in trade and tariffs could impact the company.

“We have and we’ll continue to engage constructively with the policymaking process regardless of the election outcome. When you look at the number of jobs created in the U.S., even with some vehicles that are manufactured outside, a lot of them are in our partners from an ally perspective,” she said. “It’s a very complex situation.”

Tariffs are central to Trump’s plan for the auto industry. He has said he would be willing to increase tariffs dramatically to prevent Chinese automakers from importing cars into the U.S. from factories in Mexico.

Chinese automakers are not currently doing that, but are expected to attempt to use that method of importing in the years ahead, as they expand sales and build localized production plants in the country.

Harris has reportedly called Trump’s tariff proposals “a sales tax on the American people.” The vice president hasn’t outlined any specific changes she’d make to the current tariff structure if elected, including on Biden’s announcement of raising the tariff rate on EVs imported from China from 25% to 100%.

Non-U.S.-based automakers, which together account for 48% of U.S. production and 52% of USMCA production, look more positively leveraged to Harris winning, according to Jefferies.

speech at the Democratic National Convention.

The UAW arguably has more political clout than any time in a generation, led by Fain and his top advisors who he brought in from outside the union’s ranks. But there has been a divide in the UAW and other unions regarding the historically Democratic-backed organizations and their members.

While the Teamsters declined to endorse a candidate due to a divide in the union, UAW leaders not only endorsed Harris but have been a driving force for her election campaign in Michigan and other states.

The UAW last week said internal polling showed increasingly “strong support for Kamala Harris over Donald Trump, with Harris’ lead over Trump surging in the last month.”

Meanwhile, Trump and Fain have consistently criticized one another over the past year, as the union attempts to organize as many auto plants as possible following major contract gains won during negotiations last year with the traditional Detroit automakers.

Blue-collar workers such as UAW members were viewed as crucial supporters for Trump’s first presidential election over Democratic candidate Hillary Clinton in 2016.

— CNBC’s Michael Bloom contributed to this report.

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]]> https://thenewshub.in/2024/10/29/harris-vs-trump-auto-insiders-weigh-in-on-both-candidates-top-issues/feed/ 0 https://thenewshub.in/2024/09/25/angel-city-disruptors-plan-hollywood-ending-for-la-womens-soccer-club-cnn/ https://thenewshub.in/2024/09/25/angel-city-disruptors-plan-hollywood-ending-for-la-womens-soccer-club-cnn/?noamp=mobile#respond Wed, 25 Sep 2024 09:27:12 +0000 https://thenewshub.in/?p=322

CNN
 — 

For Alexis Ohanian last summer, it started with a simple phone call. The entrepreneur and co-founder of Reddit was in London and his friend wanted him to come to Paris, “He’s like, you’re an idiot if you don’t come down to watch the USA play France.”

Shortly afterwards, Ohanian was alongside 45,000 other fans, watching Megan Rapinoe score twice for the US women’s national team in the quarterfinal of the Women’s World Cup, leading her country towards what would be a fourth world title.

“It was admittedly the first time I’d ever been to a women’s football match,” he told CNN Sport, “and the crowd was electric. I walked away from it thinking, how did I not pay this enough attention? How did I not even know there was a pro league back in the States?”

A few days later, he and his wife, the tennis legend Serena Williams, were watching the tournament final on television. Their young daughter Olympia was running around wearing the jersey of one of the team’s star players, Alex Morgan.

Out loud, Ohanian wondered about the possibility of Olympia one day playing the game professionally, but Serena cut him off.

“Without missing a beat, my wife was like, not until they pay her what she’s worth. And she was half joking, but not really.”

In that moment, Ohanian says he felt compelled to try and make a positive contribution to the world of women’s sports, “Alright babe,” he declared, “challenge accepted!”

READ: Megan Rapinoe says ‘we all have a responsibility to make the world a better place’

Twelve months later, ‘Angel City’ has become a reality. Ohanian is a lead investor on a new Los Angeles soccer project led by the Hollywood actress and activist Natalie Portman.

The National Women’s Soccer League was formed in 2013 with just five teams, four have been added since and the league will hit double figures in 2021 when Racing Louisville FC join in. The following season, Angel City will make it 11 teams in the league.

According to Angel City’s President Julie Uhrman, the idea for this new team came during Portman’s involvement with Time’s Up, a movement established in 2018 to combat sexual harassment.

“You can see that she really gets behind causes that are important to her and she does meaningful work for those causes,” Uhrman told CNN Sport, adding: “she wanted to take her commitment to elevate women’s athletics, to address pay equity and to make it public and meaningful.”

Promoting Angel City’s launch in July, Portman spoke about the challenges which have traditionally held back women’s sports. She was talking on Instagram with somebody who’s experienced it first hand for the last 20 years – Williams.

“Our team told me that only 4% of sports coverage is of women’s sport,” Portman said, “it’s insane that we’re here in 2020 and it’s so disproportionate.”

READ: Alexis Ohanian on being married to Serena Williams

The team, which doesn’t have an official name yet – Angel City is only a nickname – and they won’t play until 2022. But already it’s clear that those behind the club are doing things differently.

For one, the founding investors are almost exclusively women, “I think you can count the number of clubs that are mainly owned by women on one hand and probably with only a couple of fingers,” Uhrman told CNN, “I mean, it’s very unusual.”

Listed on the club’s website are the 31 founding investors and only four are men; Alexis Ohanian is one of those odd-men out.

He described an early meeting with Uhrman, Portman and venture capitalist Kara Nortman, “the three of them sat down and said, ‘this is what we want to build, this is how we want to build it,’ and it was really important to them from day one to have a majority women-owned team.

“I think we can talk about so many of the disparities in professional sports. And I think one of the ways we get real change is not just proving that this is an amazing business that will generate lots of money and lots of attention and lots of success, but it’s also showing that every bit of how this organization is run can be different and be as, if not more successful as a result.

“And not because it feels good, although it does feel good, but because it’s preposterous that it is not more normal.”

The club knows that they are trying to swim against the tide, and not just because they’re hoping to change the perception of professional women’s sport; they’re also launching a club in a Los Angeles sports market that is already saturated.

READ: Natalie Portman and Serena Williams are among investors behind Angel City

Uhrman rattles off the clubs that they’ll soon be rubbing shoulders with in a city famed for congestion, “Los Angeles is a market where there is already nine professional sports teams and [collegiate] powerhouses like University of Southern California and University of California, Los Angeles.

So even the idea of bringing another professional sports team here, the third soccer club here, is an ambitious, big idea.”

But Angel City believes that their novel approach will cut through the noise, establishing a local, community, club with global appeal. “We know women’s soccer has been incredibly successful during the Olympics and World Cup,” Uhrman says,

“The question is, why is it every four years that they garner such attention? And I think the answer is because of exposure and awareness.”

Behind the key investors is a supporting cast of Hollywood stars, including Jennifer Garner, Eva Longoria and Jessica Chastain, plus Serena Williams and 14 former players on the US women’s national team; it’s a group of women with tens of millions of followers on social media; they’re going to use their collective platforms to shout it from the rooftops.

“There’s this general issue that if you can’t see it,” Uhrman says, “You can’t be it. If you can’t see it, you can’t follow it. [If] you can’t cheer for it, you can’t get your friend to become a part of it, and so there’s a systemic problem that we have to fix and change.”

Uhrman continues, “We have a group of people that come from the entertainment space, the media space, sports and the technology space. We’re thinking about soccer as bigger than sports, in fact we’re thinking about it as entertainment.”

Ohanian says the focus will be on social media storytelling to build the brand and it already seems to be working, “tens of thousands of folks are very excited, [we’ve] sold out merchandise for a team that doesn’t exist yet.”

He compares women’s soccer to e-sports, which drew a rush of investment five years ago, and has concluded that the market has massively undervalued female soccer.

“These are clubs of gamers, young men who draw hundreds of millions of fans all over the world. [But] the average American does not know who the best League of Legends player is, whereas Megan Rapinoe and Alex Morgan are already cultural icons.

“From a marketing standpoint, no offense to e-sports, they’re far more marketable for brands who want to be aligned with consumer spending in this country.”

In her conversation with Williams on Instagram, Portman remarked that already, Angel City has changed the conversation, “people are starting to think about how to do this in other sports too.”

Women are standing up for and elevating other women; the sisters are doing it for themselves. It’s an LA Story that could have a Hollywood ending and it’s a potential game-changer for women’s sports everywhere.

]]> https://thenewshub.in/2024/09/25/angel-city-disruptors-plan-hollywood-ending-for-la-womens-soccer-club-cnn/feed/ 0 https://thenewshub.in/2023/04/03/giving-marjorie-taylor-greene-a-platform-isnt-good-for-america/ https://thenewshub.in/2023/04/03/giving-marjorie-taylor-greene-a-platform-isnt-good-for-america/?noamp=mobile#respond Mon, 03 Apr 2023 12:26:59 +0000 https://thenewshub.in/2023/04/03/giving-marjorie-taylor-greene-a-platform-isnt-good-for-america/

Editor’s Note: Dean Obeidallah, a former attorney, is the host of SiriusXM radio’s daily program “The Dean Obeidallah Show.” Follow him @DeanObeidallah@masto.ai. The opinions expressed in this commentary are his own. View more opinion on CNN.

CNN
 — 

Last year, GOP Rep. Marjorie Taylor Greene of Georgia spoke at a white nationalist event organized by Holocaust denier Nick Fuentes that caused Republican leaders to denounce her.

Last week, Greene’s Twitter account was temporarily suspended by the Elon Musk-headed platform over a tweet with a graphic referring to a “Trans Day of Vengeance,” as she denounced a planned transgender rights rally.

And come Tuesday, Greene has announced plans to protest in New York City when former President Donald Trump is expected to be arraigned on an indictment of more than 30 counts, calling the proceedings against him an “unconstitutional WITCH HUNT!”

But on Sunday, Greene was featured on CBS’ “60 Minutes” in an interview the long-running show promoted on Twitter with the tease: “Republican Rep. Marjorie Taylor Greene, nicknamed MTG, isn’t afraid to share her opinions, no matter how intense and in-your-face they are. She sits down with Lesley Stahl this Sunday on 60 Minutes.” The images attached to this tweet by “60 Minutes” include Greene and Stahl walking through the US Capitol, taking a stroll outside and Greene showing Stahl something on her phone.

In the segment that aired Sunday night, Stahl noted the congresswoman had moved from the fringe to the GOP’s front row in two years despite a “sharp tongue” and “some pretty radical views” as well as “over the top” comments such as “the Democrats are a party of pedophiles.” Stahl also referred to video of Greene chasing a Parkland, Florida, school shooting survivor, still maintaining that the 2020 election was stolen and failing to criticize Trump over spending. (The interview was conducted before news of his indictment.)

But Stahl didn’t mention Greene spoke at a white nationalist event a year ago while a member of Congress or her extreme anti-Muslim views and her defense of January 6 rioters.

Criticism of CBS for amplifying Greene has been swift and well-deserved even before the program aired. Former GOP Rep. Adam Kinzinger of Illinois tweeted beforehand: “Wow. Insane that 60 min would do this.” (Kinzinger is a CNN senior political commentator.)

Journalist Molly Jong-Fast also slammed “60 Minutes” with the tweet: “Attention is currency and 60 minutes is spending its currency on the Jewish space lasers woman.” (Jong-Fast was apparently referring to Greene’s past claim that a massive California wildfire was started by “a laser” beamed from space controlled by a prominent Jewish banking family.)

David Hogg, who survived the 2018 horrific school shooting at Marjory Stoneman Douglas High School in Parkland and has since become an activist against gun violence, responded, “I look forward to your questions about why she thinks school shootings are fake and why she’s supported QAnon.”

Greene amplified the conspiracy theory — two years before being elected to Congress — that the Parkland shooting that took 17 lives was staged. And in 2019, Greene appeared on video confronting Hogg outside the Capitol when he was championing laws to save lives from gun violence, screaming that the then-teenager was a “coward.” She also called Hogg “#littleHitler” on social media.

Greene’s own tweet promoting Sunday’s segment was not filled with her typical smears of “fake news” when she doesn’t like the coverage. Rather, Greene urged people to tune in as she praised “60 Minutes” host Stahl (and misspelled her first name): “It was an honor to spend a few days with the legendary icon Leslie Stahl and talented crew @60Minutes.” Greene added, “Leslie is a trailblazer for women in journalism. And while we may disagree on some issues, I respect her greatly.”

Now, it is true that “60 Minutes” over its 50-plus-year history has featured what the show has dubbed “controversial” guests. These include a 2000 interview with Oklahoma City bomber Timothy McVeigh, whose 1995 terrorist attack left 168 dead, including 19 children. And the show did a 1979 interview with Iran’s Ayatollah Ruhollah Khomeini.

Perhaps “60 Minutes” views Greene — who has repeatedly downplayed and even defended the January 6, 2021, attack plus called for the GOP to become the party of “Christian nationalism” — in the vein of its long list of controversial guests. (CBS had not responded to a request from CNN for comment at time of publishing.)

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However, the choice of Greene as a guest instantly recalls the comments of then-CBS CEO Les Moonves during Trump’s 2016 presidential campaign when he admitted that Trump’s candidacy “may not be good for America, but it’s damn good for CBS.” Moonves added, “The money’s rolling in and this is fun. … (T)his is going to be a very good year for us,” concluding, “Sorry. It’s a terrible thing to say. But bring it on, Donald. Keep going.”

Moonves may be gone from CBS, but it appears his mindset continues at “60 Minutes.” And that may be good for “60 Minutes,” but it’s definitely not good for America.

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