Honda Admits It's Lagging In EV Race
Just last month we wrote about Jaguar Land Rover's announcement that its Jaguar lineup will be all-electric by 2025, making them the latest auto manufacturer to commit to producing only electric vehicles.
Jaguar Land Rover joined the likes of Bentley Motors and General Motors in announcing it will go all-electric as countries set dates to ban the sale of new internal combustion engine vehicles.
Automobile giant Honda said last week that it will introduce two new all-electric SUVs in the U.S. as part of the 2024 model year and that its most popular vehicles will soon be available in gas-electric hybrid versions, according to the Associated Press.
The two new SUVs—one Honda branded and one Acura branded, will see their underpinnings built through a partnership that Honda and General Motors announced last year, establishing a North American automotive alliance to "help both companies accelerate investment in future mobility innovation."
Honda of America sales chief Dave Gardner admitted Honda is not as far along in the transition to electric vehicles as some of its peers. He wouldn't give a firm date as to when Honda hopes to be all-electric, instead telling reporters that the company's aim is to be carbon-neutral by 2050.
Honda has historically dominated the passenger vehicle market but consumers are shifting towards SUVs and trucks, according to Gardner.
"We've got to now focus all of our energies in this direction in order to meet timelines," Gardner said. "We're really good at a couple of things that seem to be going out of vogue today, so there's no doubt that we have work to start moving quickly in the zero-emission direction."
With Honda's competitors much further ahead in the transition to all-electric vehicles, the auto giant admits it needs to get the ball rolling if it wants to remain competitive.
Last week, you might have heard that the art market went—as they say in business school—absolutely bonkers. Christie’s cashed in on the mania, setting a new record of $69.3 million for a jpeg, er, digital artwork. The takeaway? Art investing has hit the mainstream. But if you’re anything like us, putting your money in real, tangible art by blue-chip artists makes a lot more sense.
For one thing, contemporary art prices have outperformed the S&P by 152% from 1995–2020 according to data from Masterworks. They were the first platform to let you invest in paintings by the likes of Basquiat, Kaws, and Haring. But what about returns? They’ve got that too: they recently sold their first painting, a Banksy work, for a cool 32% annualized return to investors.
With results like that, it’s no wonder there’s over 25,000 people on the waitlist. Just use our special link, tell them we sent you, and you’ll be good to go.
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U.S. administers 100 million Covid vaccine doses. The U.S. has administered more than 100 million Covid-19 vaccine doses as about 35 million Americans have been fully vaccinated, according to the Centers for Disease Control and Prevention. Approximately 13.5% of the adult U.S. population has been fully vaccinated as the White House pushes for all adults to be eligible for the vaccine by May 1. "That is more than enough vaccine supply to vaccinate all adult Americans by the end of May," White House Covid-19 response coordinator Jeff Zients said. "Now we need to ramp up the number of vaccinators, as we've been talking about, and the number of places where Americans can get vaccinated."
Flutter considers FanDuel listing. Flutter Entertainment, which owns betting properties such as Paddy Power, Betfair and PokerStars, said it is considering listing a portion of its stake in betting site FanDuel in the U.S. Flutter has built a 95% stake in FanDuel since first acquiring a stake in 2018 and is reportedly facing pressure from investors who believe FanDuel is being undervalued relative to rival Draftkings. "Options including the listing in the U.S. of a small shareholding in Fanduel are being considered but no decision has been made at this time," Flutter said. "Should a decision be made to proceed with a listing in due course, an announcement will be made as appropriate."
KORE to go public in SPAC deal. Internet of Things services provider KORE will go public through a merger with Cerberus Telecom Acquisition Corp. in a deal valuing the combined company at an enterprise value of $1.014 billion. KORE counts more than 3,600 customers worldwide as it manages more than 12 million connected devices. "Over the past several years, we have been expanding KORE's capabilities to help our customers extend their digital transformations to the edge, which is the very promise of IoT. As the 5G revolution accelerates globally, we believe we are well-positioned to be a critical enabler in helping enterprises transform their businesses with the power of IoT solutions."
Netflix doesn't want you sharing passwords. Netflix has started to test a feature intended to crack down on password sharing by prompting viewers to confirm they share a household with the account holder. The prompt, which asks viewers to verify information sent via email or text, has started to roll out to a handful of Netflix users. "This test is designed to help ensure that people using Netflix accounts are authorized to do so," a Netflix spokesperson said. Netflix's terms of service say all users of an account must live in the same household, however, Netflix hasn't cracked down on password sharing up to this point.
TSA screenings hit nearly one year high. 1,357,111 people were screened at airports across the U.S. on Friday by TSA officers, marking the highest daily total since March 15, 2020. Less than a month later on April 14, 2020, TSA screenings hit a pandemic low of 87,500 passengers. According to TSA spokesperson Lisa Farbstein, eight days so far this month have seen more than one million people screened by TSA officers. Air travel dropped by more than 60% last year to 324 million passengers, according to the TSA.