What does the TEN CFO departure signal?
Early yesterday morning TEN announced that their CFO will be leaving the company to become CFO at TI Automotive. We suspect that this signals a somewhat different strategy vs what we had been expecting. But this could still result in upside.
Volkswagen conference call a mixed bag for Suppliers
Volkswagen held a conference call Monday morning, trimming 2020/2025 targets. While VW does expect challenging markets in 2020 and is facing significant CO2 compliance costs, the company has opportunities to offset those through several initiatives, including greater platform consolidation and material costs savings. Implications to Suppliers would be mixed. .
Ford’s first foray into long-range BEV’s is impressive
Specs and pricing on the Ford Mustang Mach-E were impressive. But we don’t see this as stock-moving for Ford (volume targets are relatively low at 50k units and “contribution margin accretive” likely means not profitable at first).