febrero 2021 – Página 306

Novelis Reports Third Quarter Fiscal 2021 Results

ATLANTA, Feb. 3, 2021 /PRNewswire/ —

Q3 Fiscal Year 2021 Highlights

Net income…

ATLANTA, Feb. 3, 2021 /PRNewswire/ —

Q3 Fiscal Year 2021 Highlights

Net income from continuing operations of $195 million, up 82% YoY; excluding special items, net income of $209 million
Shipments of 933 kilotonnes, up 17% YoY
Adjusted EBITDA of $501 million, up 46% YoY
Adjusted EBITDA per ton of $537, up 25% YoY
Focus on deleveraging resulted in net leverage ratio improvement to 3.3x from 3.8x at acquisition close
Integration work continues with $54 million run-rate acquisition cost synergies achieved through end of Q3

Novelis Inc., the world leader in aluminum rolling and recycling, today reported a net income attributable to its common shareholder of $176 million in the third quarter of fiscal year 2021, and net income from continuing operations of $195 million, up 64 percent and 82 percent, respectively, versus the prior year. Excluding tax-effected special items in both years, third quarter fiscal 2021 net income was a record high $209 million, up 58 percent versus the prior year period, driven mainly by higher after-tax Adjusted EBITDA, partially offset by higher depreciation and amortization associated with the acquisition of Aleris.

Adjusted EBITDA increased 46 percent to $501 million in the third quarter of fiscal 2021 compared to $343 million in the prior year period. The increase in Adjusted EBITDA is due to organic growth, favorable metal benefits, and a net $50 million positive EBITDA contribution from the acquired Aleris business. The current quarter also includes a positive $25 million from a year-to-date customer contractual obligation. On a consolidated basis, Novelis achieved a record EBITDA per ton shipped of $537 in the third quarter, compared to $430 in the prior year.

Net sales increased 19 percent from the prior year period to $3.2 billion for the third quarter of fiscal 2021, primarily driven by a seventeen percent increase in total shipments and higher average aluminum prices. Total flat rolled product shipments increased to 933 kilotonnes, mainly reflecting the addition of the acquired Aleris business and strong demand across product end markets, particularly beverage can.

«Novelis achieved record financial performance in the third quarter based on continued demand for innovative, sustainable aluminum solutions and outstanding operational performance across our expanded business,» said Steve Fisher, President and CEO, Novelis Inc. «We are also making excellent progress on our strategic growth initiatives to drive long term value, by investing in new capacity and technology, entering new partnerships to solidify aluminum as the material of choice for our customers, and bringing new alloys to market that will drive the industry forward.»

Year-to-date fiscal 2021 free cash flow from continuing operations of $331 million compares to $61 million in the prior year period, driven primarily by higher Adjusted EBITDA, favorable working capital and lower capital expenditures. Capital expenditures of $333 million are down 23% versus the prior year as spending is prioritized to support maintenance activities and organic, strategic capacity projects underway. The greenfield Guthrie, Kentucky, automotive finishing plant in the U.S. shipped its first customer coils in December, while the new automotive finishing line in Changzhou, China, is expected to start commercial production in the fourth quarter this fiscal year. The recycling, casting and rolling expansion in Brazil remains on track to commission in the middle of fiscal year 2022.

	Nine Months Ended December 31,
(in $ millions, non-GAAP measures)	2020		2019
Free cash flow from continuing operations	$	331	$	61
Capital expenditures	333		430
Free cash flow from continuing operations before capital expenditures	$	664	$	491

Net leverage improved during the quarter to 3.3x, compared to 3.8x at the close of the Aleris acquisition in the first quarter fiscal 2021. This reduction is a factor of both stronger Adjusted EBITDA, as well as a $500 million reduction in the Company’s short term bridge loan due 2022.

«We are delivering on our commitments to improve net leverage through debt reduction resulting from strong cash flow generation,» said Devinder Ahuja, Senior Vice President and Chief Financial Officer, Novelis Inc. «With a favorable demand outlook, robust acquisition synergy savings, and prioritized capital spending, we now anticipate achieving our targeted net leverage level of below 3x earlier than the end of fiscal year 2022 as previously guided.»

The company continues to maintain a very strong total liquidity position of $2.4 billion as of December 31, 2020.

COVID-19 Response
Novelis’ primary focus remains the health and well-being of its employees. The company is closely monitoring the changing landscape with respect to the COVID-19 pandemic and taking actions to manage its business and support customers. Novelis has bolstered its Environmental Health and Safety protocols to align with guidance from global health authorities and government agencies across company operations to help ensure the safety of its employees, customers, suppliers, communities and other stakeholders. Customer demand has recovered to pre-COVID levels in most end markets, and Novelis will continue to work closely with customers to leverage its global manufacturing footprint and adjust production levels to meet their needs.

Update on Aleris Acquisition, Integration and Required Divestments
On April 14, 2020, Novelis closed its acquisition of Aleris Corporation and is integrating the two companies to drive a number of strategic benefits and allow for at least $180 million in potential annual synergies. The results from continuing operations reported today for the period ending December 31, 2020 reflect the acquired businesses. Results related to the Duffel and Lewisport plants are reflected as results from discontinued operations. The company filed a form 8-K/A with the Securities and Exchange Commission on June 30, 2020, providing historical and pro forma financial information related to the acquisition.

On November 30, 2020, Novelis completed the required divestment of the Lewisport automotive body sheet business to American Industrial Partners, a private equity firm. Upon closing, Novelis received $180 million in cash proceeds. The required divestment of the Duffel plant was previously completed in September, 2020. With divestments now complete, Novelis is focusing on the safe integration of the continuing operations to drive value creation. Novelis’ acquisition of Aleris provides a strong pro-forma financial profile, many strategic benefits, namely securing an integrated manufacturing footprint in China, further portfolio diversification with the addition of aerospace and building and construction, well as new technology and operational capabilities.

Third Quarter of Fiscal Year 2021 Earnings Conference Call
Novelis will discuss its third quarter of fiscal year 2021 results via a live webcast and conference call for investors at 7:30 a.m. ET on Wednesday, February 3, 2021. To view slides and listen only, visit https://cc.callinfo.com/r/1rx5pyo03mq8y&eom. To join by telephone, dial toll-free in North America at 800-954-0592, India toll-free at 18002662120 or the international toll line at +1-303-223-0120. Presentation materials and access information may also be found at novelis.com/investors.

About Novelis
Novelis Inc. is driven by its purpose to shape a sustainable world together. As a global leader in innovative products and services and the world’s largest recycler of aluminum, we partner with customers in the aerospace, automotive, beverage can and specialties industries to deliver solutions that maximize the benefits of lightweight aluminum throughout North America, Europe, Asia and South America. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India. For more information, visit novelis.com.

Non-GAAP Financial Measures
This news release and the presentation slides for the earnings call contain non-GAAP financial measures as defined by SEC rules. We believe these measures are helpful to investors in measuring our financial performance and liquidity and comparing our performance to our peers. However, our non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies. These non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for GAAP financial measures. To the extent we discuss any non-GAAP financial measures on the earnings call, a reconciliation of each measure to the most directly comparable GAAP measure will be available in the presentation slides filed as Exhibit 99.2 to our Current Report on Form 8-K furnished to the SEC concurrently with the issuance of this press release. In addition, the Form 8-K includes a more detailed description of each of these non-GAAP financial measures, together with a discussion of the usefulness and purpose of such measures.

Attached to this news release are tables showing the Condensed Consolidated Statements of Operations, Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Cash Flows, Reconciliation to Adjusted EBITDA, Free Cash Flow, Liquidity, Net Income from continuing operations excluding Special Items, and Segment Information.

Forward-Looking Statements
Statements made in this news release which describe Novelis’ intentions, expectations, beliefs or predictions may be forward-looking statements within the meaning of securities laws. Forward-looking statements include statements preceded by, followed by, or including the words «believes,» «expects,» «anticipates,» «plans,» «estimates,» «projects,» «forecasts,» or similar expressions. Examples of forward looking statements in this news release are statements about our ability to reduce net leverage and total debt, expected results from our strategic growth initiatives, adjustments to production to meet customer needs, expected start dates of new facilities, and potential acquisition synergies from our acquisition of Aleris. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty and Novelis’ actual results could differ materially from those expressed or implied in such statements. We do not intend, and we disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. Factors that could cause actual results or outcomes to differ from the results expressed or implied by forward-looking statements include, among other things: changes in the prices and availability of aluminum (or premiums associated with such prices) or other materials and raw materials we use; the capacity and effectiveness of our hedging activities; relationships with, and financial and operating conditions of, our customers, suppliers and other stakeholders; fluctuations in the supply of, and prices for, energy in the areas in which we maintain production facilities; our ability to access financing including in connection with potential acquisitions and investments; risks arising out of our acquisition of Aleris Corporation, including risks inherent in the acquisition method of accounting; disruption to our global aluminum production and supply chain as a result of COVID-19; changes in the relative values of various currencies and the effectiveness of our currency hedging activities; factors affecting our operations, such as litigation, environmental remediation and clean-up costs, breakdown of equipment and other events; economic, regulatory and political factors within the countries in which we operate or sell our products, including changes in duties or tariffs; competition from other aluminum rolled products producers as well as from substitute materials such as steel, glass, plastic and composite materials; changes in general economic conditions including deterioration in the global economy; changes in government regulations, particularly those affecting taxes, derivative instruments, environmental, health or safety compliance; changes in interest rates that have the effect of increasing the amounts we pay under our credit facilities and other financing agreements; and our ability to generate cash. The above list of factors is not exhaustive. Other important risk factors are included under the caption «Risk Factors» in our Annual Report on Form 10-K for the fiscal year ended March 31, 2020.

Novelis Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

	Three Months Ended December 31,				Nine Months Ended December 31,
(in millions)	2020		2019		2020		2019
Net sales	$	3,241	$	2,715	$	8,645	$	8,491
Cost of goods sold (exclusive of depreciation and amortization)	2,578		2,239		7,063		7,001
Selling, general and administrative expenses	149		131		400		380
Depreciation and amortization	137		91		396		267
Interest expense and amortization of debt issuance costs	66		59		206		185
Research and development expenses	20		21		57		58
Restructuring and impairment, net	20		3		28		36
Equity in net loss of non-consolidated affiliates	3		1		1		1
Business acquisition and other integration related costs	—		17		11		46
Other (income) expenses, net	(7)		(3)		86		3
	$	2,966	$	2,559	$	8,248	$	7,977
Income from continuing operations before income tax provision	275		156		397		514
Income tax provision	80		49		119		157
Net income from continuing operations	$	195	$	107	$	278	$	357
Loss from discontinued operations, net of tax	(18)		—		(47)		—
Loss on sale of discontinued operations, net of tax	—		—		(170)		—
Net loss from discontinued operations	(18)		—		(217)		—
Net income	$	177	$	107	$	61	$	357
Net income attributable to noncontrolling interest	1		—		1		—
Net income attributable to our common shareholder	$	176	$	107	$	60	$	357

Novelis Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

(in millions, except number of shares)	December 31, 2020		March 31, 2020
ASSETS
Current assets:
Cash and cash equivalents	$	1,164	$	2,392
Accounts receivable, net
— third parties (net of allowance for uncollectible accounts of $8 as of December 31, 2020 and March 31, 2020)	1,556		1,067
— related parties	185		164
Inventories	1,791		1,409
Prepaid expenses and other current assets	185		145
Fair value of derivative instruments	146		202
Assets held for sale	5		5
Current assets of discontinued operations	11		—
Total current assets	$	5,043	$	5,384
Property, plant and equipment, net	4,732		3,580
Goodwill	1,065		607
Intangible assets, net	718		299
Investment in and advances to non–consolidated affiliates	858		760
Deferred income tax assets	185		140
Other long–term assets
— third parties	358		219
— related parties	1		—
Total assets	$	12,960	$	10,989
LIABILITIES AND SHAREHOLDER’S EQUITY
Current liabilities:
Current portion of long–term debt	$	59	$	19
Short–term borrowings	151		176
Accounts payable
— third parties	2,097		1,732
— related parties	252		176
Fair value of derivative instruments	183		214
Accrued expenses and other current liabilities	625		613
Current liabilities of discontinued operations	14		—
Total current liabilities	$	3,381	$	2,930
Long–term debt, net of current portion	6,295		5,345
Deferred income tax liabilities	152		194
Accrued postretirement benefits	1,056		930
Other long–term liabilities	296		229
Total liabilities	$	11,180	$	9,628
Commitments and contingencies
Shareholder’s equity
Common stock, no par value; unlimited number of shares authorized; 1,000 shares issued and outstanding as of December 31, 2020 and March 31, 2020	—		—
Additional paid–in capital	1,404		1,404
Retained earnings	688		628
Accumulated other comprehensive loss	(266)		(620)
Total equity of our common shareholder	$	1,826	$	1,412
Noncontrolling interest	(46)		(51)
Total equity	$	1,780	$	1,361
Total liabilities and equity	$	12,960	$	10,989

Novelis Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

	Nine Months Ended December 31,
(in millions)	2020		2019
OPERATING ACTIVITIES
Net income	$	61	$	357
Net loss from discontinued operations	(217)		—
Net income from continuing operations	$	278	$	357
Adjustments to determine net cash provided by operating activities:
Depreciation and amortization	396		267
Gain on unrealized derivatives and other realized derivatives in investing activities, net	(8)		(32)
Gain on sale of assets	—		(1)
Impairment charges	—		13
Deferred income taxes, net	1		30
Equity in net loss of non-consolidated affiliates	1		1
Gain on foreign exchange remeasurement of debt	(2)		—
Amortization of debt issuance costs and carrying value adjustments	21		14
Other, net	—		2
Changes in assets and liabilities including assets and liabilities held for sale (net of effects from divestitures):
Accounts receivable	(174)		143
Inventories	83		(42)
Accounts payable	154		(168)
Other assets	68		(3)
Other liabilities	(170)		(109)
Net cash provided by operating activities – continuing operations	648		472
Net cash used in operating activities – discontinued operations	(78)		—
Net cash provided by operating activities	$	570	$	472
INVESTING ACTIVITIES
Capital expenditures	(333)		(430)
Acquisition of business, net of cash acquired	(2,614)		—
Proceeds from sales of assets, third party, net of transaction fees and hedging	4		3
Proceeds from investment in and advances to non-consolidated affiliates, net	10		6
(Outflows) proceeds from the settlement of derivative instruments, net	(3)		3
Other	9		10
Net cash used in investing activities – continuing operations	(2,927)		(408)
Net cash provided by investing activities – discontinued operations	357		—
Net cash used in investing activities	$	(2,570)	$	(408)
FINANCING ACTIVITIES
Proceeds from issuance of long-term and short-term borrowings	1,972		79
Principal payments of long-term and short-term borrowings	(589)		(16)
Revolving credit facilities and other, net	(609)		(38)
Debt issuance costs	(25)		(3)
Contingent consideration paid in acquisition of business	(9)		—
Net cash provided by financing activities – continuing operations	740		22
Net cash used in financing activities – discontinued operations	(2)		—
Net cash provided by financing activities	$	738	$	22
Net (decrease) increase in cash, cash equivalents and restricted cash	(1,262)		86
Effect of exchange rate changes on cash	53		(4)
Cash, cash equivalents and restricted cash — beginning of period	2,402		960
Cash, cash equivalents and restricted cash — end of period	$	1,193	$	1,042

Cash and cash equivalents	$	1,164	$	1,031
Restricted cash (Included in «Other long-term assets»)	15		11
Restricted cash (Included in «Prepaid expenses and other current assets»)	14		—
Cash, cash equivalents and restricted cash — end of period	$	1,193	$	1,042

Reconciliation of Adjusted EBITDA (unaudited) to Net income attributable to our common shareholder

The following table reconciles Adjusted EBITDA, a non-GAAP financial measure, to Net income attributable to our common shareholder.

	Three Months Ended December 31,				Nine Months Ended December 31,
(in millions)	2020		2019		2020		2019
Net income attributable to our common shareholder	$	176	$	107	$	60	$	357
Net income attributable to noncontrolling interests	1		—		1		—
Income tax provision	80		49		119		157
Interest, net	63		57		199		177
Depreciation and amortization	137		91		396		267
EBITDA	$	457	$	304	$	775	$	958

Adjustment to reconcile proportional consolidation	13		13		42		42
Unrealized (gains) losses on change in fair value of derivative instruments, net	(13)		(6)		14		(15)
Realized (gains) losses on derivative instruments not included in segment income	(2)		(1)		2		2
Restructuring and impairment, net	20		3		28		36
Loss (gain) on sale of fixed assets	2		1		—		(1)
Purchase price accounting adjustments	—		—		29		—
Loss from discontinued operations, net of tax	18		—		47		—
Loss on sale of discontinued operations, net of tax	—		—		170		—
Metal price lag	—		11		32		18
Business acquisition and other integration related costs	—		17		11		46
Other, net	6		1		59		3
Adjusted EBITDA	$	501	$	343	$	1,209	$	1,089

Free Cash Flow (unaudited)

The following table reconciles Free cash flow, a non-GAAP financial measure, to Net cash provided by operating activities – continuing operations.

	Nine Months Ended December 31,
(in millions)	2020		2019
Net cash provided by operating activities – continuing operations	$	648	$	472
Net cash used in investing activities – continuing operations	(2,927)		(408)
Plus: Cash used in the acquisition of assets under a capital lease	—		—
Plus: Cash used in the acquisition of business, net of cash and restricted cash acquired	2,614		—
Less: Proceeds from sales of assets and business, net of transaction fees, cash income taxes and hedging	(4)		(3)
Free cash flow from continuing operations	331		61
Net cash used in operating activities – discontinued operations	(78)		—
Net cash provided by investing activities – discontinued operations	357		—
Less: Proceeds from sales of assets and business, net of transaction fees, cash income taxes and hedging – discontinued operations	(403)		—
Free cash flow	$	207	$	61

Cash and Cash Equivalents and Total Liquidity (unaudited)

The following table reconciles Total liquidity to the ending balances of cash and cash equivalents.

(in millions)	December 31, 2020		March 31, 2020
Cash and cash equivalents	$	1,164	$	2,392
Availability under committed credit facilities	1,226		186
Total liquidity	$	2,390	$	2,578

Reconciliation of Net income from continuing operations, excluding special items (unaudited) to Net income from continuing operations

The following table presents Net income from continuing operations excluding special items. We adjust for items which may recur in varying magnitude which affect the comparability of the operational results of our underlying business.

	Three Months Ended December 31,				Nine Months Ended December 31,
(in millions)	2020		2019		2020		2019
Net income from continuing operations	195		107		278		357
Special Items:
Business acquisition and other integration related costs	—		17		11		46
Metal price lag	—		11		32		18
Restructuring and impairment, net	20		3		28		36
Charitable donation	—		—		50		—
Purchase price accounting adjustment	—		—		29		—
Tax effect on special items	(6)		(6)		(39)		(20)
Net income from continuing operations, excluding special items	$	209	$	132	$	389	$	437

Segment Information (unaudited)

The following table presents selected segment financial information (in millions, except shipments which are in kilotonnes).

Selected Operating Results Three Months Ended December 31, 2020	North America		Europe		Asia		South America		Eliminations and Other		Total
Adjusted EBITDA	$	206	$	98	$	78	$	129	$	(10)	$	501

Shipments (in kt)
Rolled products – third party	347		245		183		158		—		933
Rolled products – intersegment	—		8		1		—		(9)		—
Total rolled products	347		253		184		158		(9)		933
Selected Operating Results Three Months Ended December 31, 2019	North America		Europe		Asia		South America		Eliminations and Other		Total
Adjusted EBITDA	$	127	$	47	$	55	$	116	$	(2)	$	343

Shipments (in kt)
Rolled products – third party	269		218		170		140		—		797
Rolled products – intersegment	—		6		3		6		(15)		—
Total rolled products	269		224		173		146		(15)		797

Selected Operating Results Nine Months Ended December 31, 2020	North America		Europe		Asia		South America		Eliminations and Other		Total
Adjusted EBITDA	$	489	$	181	$	227	$	317	$	(5)	$	1,209

Shipments (in kt)
Rolled products – third party	986		685		541		418		—		2,630
Rolled products – intersegment	—		20		5		1		(26)		—
Total rolled products	986		705		546		419		(26)		2,630

Selected Operating Results Nine Months Ended December 31, 2019	North America		Europe		Asia		South America		Eliminations and Other		Total
Adjusted EBITDA	$	468	$	160	$	154	$	309	$	(2)	$	1,089

Shipments (in kt)
Rolled products – third party	844		678		529		411		—		2,462
Rolled products – intersegment	—		25		5		15		(45)		—
Total rolled products	844		703		534		426		(45)		2,462

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SOURCE Novelis Inc.

Contec, Inc. Partners With Pisgah Energy And Southern Current To Complete Solar Installation At Contec’s Global Headquarters In Spartanburg, SC

SPARTANBURG, S.C., Feb. 3, 2021 /PRNewswire/ — Contec recently partnered with Pisgah Energy and <a target="_blank"…

SPARTANBURG, S.C., Feb. 3, 2021 /PRNewswire/ — Contec recently partnered with Pisgah Energy and Southern Current to design, develop and install a roof and ground mounted solar project at their headquarters in Spartanburg, South Carolina. The two systems, totaling 625.5 kWdc, serve as on-site electrical generation for Contec, expanding their efforts to manufacture their goods with renewable energy.

Contec headquarters now boasts a total of 1668 solar panels that will supply power to the facility. This net-metered system is estimated to produce 944,600 kWh and offset Contec’s electricity usage by 53%.

Contec’s CEO, Jack McBride shared, «We are thrilled to complete this installation. We take our responsibility to our community and our planet seriously, and this is a key part of our broader, ongoing corporate social responsibility efforts.»

Contec’s President, Avi Lawrence echoed the sentiment noting, «We’ve already begun tracking and sharing the results of these efforts with our associates and customers; framing the data in a way that is easy to understand by using analogies to personal energy use.»

Pisgah Energy was the lead developer and worked in collaboration with Charleston SC based-Southern Current to provide construction services for the project.

According to Evan Becka, President and Senior Developer at Pisgah Energy, «Working with a customer like Contec is great because they see both the business case for solar and how critically important renewable energy is for a more sustainable future. We wouldn’t be able to do what we do without companies like Contec stepping up and leading the way.»

Southern Current installed the project utilizing REC 370 solar modules on both the ground and roof mounted systems.

«Any time two different projects are being installed simultaneously on the same property,» says Southern Current’s project manager, Scott Wolfrey, «there are additional challenges, risks and barriers that must be considered to provide the customer the best experience and product.»

Pisgah Energy and Southern Current are thrilled to help further Contec’s commitment to using renewable energy through the installation of this solar project.

ABOUT:

Contec, Inc. is a leading manufacturer of contamination control products for mission-critical cleaning in manufacturing environments worldwide. Contec’s cleanroom wipes and mops are used in various industries across the globe— biomedical, pharmaceutical, medical device, microelectronics, optics, semiconductor, data storage, animal lab, automotive OEM, aerospace and other critical industrial applications.

Pisgah Energy is on a mission to lead the transition of commercial, municipal and institutional clients from fossil fuels to renewable energy sources. We serve our clients using insight and expertise derived from 20 years working in the renewable energy sector. We provide comprehensive solar and energy storage design & development services for commercial, municipal, and institutional clients across the Southeast. Our team has a proven track record of developing solar and energy storage projects that are both innovative and uniquely tailored to meet the needs of each individual client.

Southern Current is a leading solar developer and EPC with hundreds of systems currently providing power to customers across the United States. Our integrated platform includes Project Development, Engineering, Construction, Maintenance, Finance, and Asset Management. Our mission is to help create a more reliable, economical and sustainable energy future for the United States.

Contact:

Rebecca Morris | Pisgah Energy
rebecca.morris@pisgahenergy.com
828.215.8738

Matt Schiering | Contec, Inc.
mschiering@contecinc.com
864.641.5137

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SOURCE Contec

Meritor Awarded Autocar Trucks Business to Produce Electric Powertrains

TROY, Mich., Feb. 3, 2021 /PRNewswire/ — Meritor, Inc. (NYSE: MTOR) today announced it has entered into a five-year supply agreement with Autocar, LLC Trucks, an American specialty truck manufacturer, to supply its refuse vehicles with Blue Horizon™ 14Xe™ integrated ePowertrains. Production is scheduled to begin in 2022.

«We’re proud to have Autocar as a customer for several of our product offerings. As Meritor has developed its next-generation technologies, we have been able to align our…

«We’re proud to have Autocar as a customer for several of our product offerings. As Meritor has developed its next-generation technologies, we have been able to align our electric powertrain products to their needs,» said Pedro Garcia, director of Global EV Powertrain for Meritor. «We are excited about the opportunity to take our partnership into a new direction and get these new technologies on the road.»

«Meritor has been a longtime partner to Autocar, providing us with proven and trusted technologies for our vehicles, and we look forward to expanding our partnership, so that we can bring zero-emission solutions to market,» said James Johnston, president of Autocar.

Meritor’s 14Xe all-electric, fully integrated, commercial electric powertrain for medium- and heavy-duty commercial vehicles, will be produced in Asheville and Forest City, North Carolina.

About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. With more than a 110-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of more than 8,600 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at www.meritor.com.

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SOURCE Meritor, Inc.

Meritor to Begin Commercial Electric Powertrain Production in 2021

TROY, Mich., Feb. 3, 2021 /PRNewswire/ — Meritor, Inc. (NYSE: MTOR) today announced that production of its 14Xe™ all-electric, fully integrated, commercial electric powertrain for medium- and heavy-duty commercial vehicles will begin mid-2021.

Meritor received the first Class 8 truck production contract for electric powertrains in the industry in early 2020. Part of Meritor’s Blue Horizon™ advanced technology portfolio, the 14Xe ePowertrain is the only electric powertrain for Class 8…

«The 14Xe ePowertrain has been tested in various conditions around the world with several OEMs, vehicle types and applications, so we can offer the industry a proven electric powertrain technology,» said T.J. Reed, vice president of Global Electrification for Meritor. «In January 2020, we announced our agreement with PACCAR to be its non-exclusive supplier of electric powertrains. One year later, we are nearing production and preparing to put vehicles on the road.»

The 14Xe electric powertrain, which will be produced at Meritor’s facilities in Asheville and Forest City, North Carolina, is designed to provide efficiency, performance, weight savings and space utilization.

Key advantages of the 14Xe ePowertrain over remote mount systems include:

Tighter turning radius due to a shorter wheelbase
Increased room between frame rails for additional battery capacity, which extends the range of the vehicle
Lighter weight (up to 800 pounds)

Meritor’s powertrain control module complies with ISO-26262 ASIL-C rating, the international standard for functional safety in the automotive industry that applies to electrical and electronic systems consisting of hardware and software components in vehicles.

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SOURCE Meritor, Inc.

GP Strategies Launches Automotive Advisory Board

COLUMBIA, Md., Feb. 3, 2021 /PRNewswire/ — Global workforce transformation solutions provider GP Strategies Corporation (NYSE: GPX) today announced the formation of an Automotive Advisory Board to support its global automotive practice. The move brings together industry thought leaders and experts to provide feedback and guidance on the company’s offerings, solutions, and service levels.

GP Strategies Automotive Advisory Board members include:

Jeremy Anwyl, former CEO of Edmunds.com
John Alan Cooper, former Vice President of Aftersales for Ford Europe
Ernst H. Lieb, former President and CEO of Mercedes-Benz USA
Dr. Steffen Szameitat, former Director Strategy of the SEAT/Cupra brands of the Volkswagen Group
Dave Zuchowski, former CEO of Hyundai Motor America

The Automotive Advisory Board improves GP Strategies’ global competitive advantage and serves as a sounding board for business leaders on various subjects, including innovation, business development, and strategic opportunities. Board members will consult on brand positioning and new service products, advise on geographic expansion, and evaluate corporate development strategies.

«We’re proud to have assembled such an impressive team of industry leaders. They provide the voice and perspective of the customer, and have already contributed meaningfully to some new initiatives like our modern learning take on an Automotive Retail Academy and integrated product launch strategies designed for the pandemic age,» said Cathy Palochko, GP Strategies Senior Vice President and Global Automotive Industry Lead. «Across more than 50 years in the business, we’ve built a well-respected presence among automakers and their supporting vendors. The addition of the Automotive Advisory Board helps us reinforce that relevance and sustain it for years to come.»

Among the advisory board members is Jeremy Anwyl, perhaps best known for his 13 years spent leading Edmunds.com. He believes the automotive industry is at a critical inflection point. «Today’s automakers are building amazing vehicles, but that is no longer enough to ensure success. Increasingly, consumers will be looking for integrated transportation solutions and success will require automakers to fundamentally rethink their business models,» Anwyl said. «GP is well positioned to help manufacturers tackle this critical transition, and I’m happy for the opportunity to contribute to their important work.»

John Cooper, board member and former Vice President of Aftersales for Ford Europe, said, «E-commerce in an omnichannel environment is a game changer for the automotive industry, particularly in aftersales; however, most automakers are not ready to take advantage. It’s an area I’m particularly focused on, and GP Strategies is leading the charge at a time when the need to change has never been more pressing.»

Another inaugural member of the GP Strategies Automotive Advisory Board, Ernst Lieb is a globally oriented business leader with operational and leadership experience from stints as President and CEO of DaimlerChrysler Australia Pacific as well as President and CEO of Mercedes-Benz USA. «I’ve dedicated my career to establishing cultures of success through operational excellence, and I think GP Strategies’ emphasis on workforce transformation positions them perfectly to help OEMs create innovative and market-leading strategies,» said Lieb.

Each board member brings a highly accomplished outlook to the table, and each uniquely complements one or more of GP Strategies’ areas of concentration. Steffen Szameitat, for example, noted, «The ongoing revolution in drivetrains and car software is vast and rapid. To make this transition happen, first top and middle management, then frontline workers need to understand the new technologies and the consequences for the customer. GP with its worldwide infrastructure and multi-industry perspective is a perfect partner to develop such learning ecosystems for European OEMs, importers and retail partners.»

Rounding out the Automotive Advisory Board, Dave Zuchowski comes with a wealth of expertise in digital retailing solutions. «The conventional automotive dealership model provides the greatest hotbed for potential disruption and workplace transformation in today’s business world,» said Zuchowski. «Given GP’s decades of experience in the field with dealers and in the boardroom with global sales organizations, the decision to join their advisory board was easy. I’m delighted to be part of such a top-notch team.»

«We’re working on several groundbreaking offerings in the automotive space for 2021,» added Palochko. «The welcome input and market-driven guidance from Dave, Ernst, Jeremy, John, and Steffen will only serve to strengthen those efforts. We’re excited to roll up our sleeves and start building what comes next.»

About GP Strategies
GP Strategies Corporation (NYSE: GPX) is a global workforce transformation provider of organizational and technical performance solutions. GP Strategies’ solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting, and business improvement services customized to meet the specific needs of its clients. Clients include Fortune 500 companies, automotive, financial services, technology, aerospace and defense industries, and other commercial and government customers. Additional information can be found at gpstrategies.com.

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SOURCE GP Strategies Corporation

Shady Grove Fertility (SGF) Supports New York’s Child Parent Security Act (CPSA), which Will Allow NY Residents to Use a Gestational Surrogate

NEW YORK, Feb. 3, 2021 /PRNewswire-PRWeb/ — Shady Grove Fertility (SGF) supports the Child Parent Security Act (CPSA), a landmark surrogacy reform that New York lawmakers passed on April 2, 2020. The CPSA will allow residents to engage paid surrogacy contracts starting February 15, 2021. Numerous advocacy groups including Men Having Babies, a nonprofit that advocates for equal parenthood opportunities for the LGBTQ+ community, lobbied extensively in the state’s capital to make legal surrogacy in New York a reality.

Ron Poole-Dayan, Executive Director of Men Having Babies, said in a news statement, «The CPSA is the most comprehensive, thoughtful, and ethical surrogacy legislation ever drafted. It is particularly important now in the midst of a health crisis, to pass this legislation that provides New Yorkers an ethical and more practical path to realizing their parenthood dreams. This is landmark legislation, and we are proud of our lawmakers for taking this important step to help LGBTQ+ families prosper.»

When CPSA takes effect on February 15 in New York, the reform will enact numerous changes, including the:

reversal of the ban on compensated surrogacy in New York State, while still prohibiting genetic (or «traditional») surrogacy.
establishment of parentage for the intended parents of surrogacy from the moment of birth.
collaboration with the American Society for Reproductive Medicine (ASRM) to develop medical screening guidelines for potential surrogates.
development of two formal and voluntary registries for egg donors and surrogate mothers.

SGF has been abreast of the reform’s development, with physicians like SGF New York’s Director of IVF, Anate Brauer, M.D., actively participating in candid discussions around what the future holds for gestational carriers in her home state. Most recently, Dr. Brauer will join the 16th annual New York Men Having Babies – Virtual Surrogacy Seminar & Gay Parenting Expo taking place on February 6 and 7 as a panelist for the «Medical Aspects of Surrogacy» session. Dr. Brauer will be in the company of fellow medical professionals to explore the medical screening of future fathers, egg donors, and surrogates, the creation of optimal embryos, and the in vitro fertilization (IVF) process.

«I’m grateful to be joining the Men Having Babies Conference & Expo at such a pivotal time for men who have their hearts set on fatherhood,» shares Dr. Brauer.

Along with Dr. Brauer’s panel at the event, SGF New York’s Medical Director, Tomer Singer, M.D., and Robert Setton, M.D., will lead a breakout session on important takeaways for attendees seeking information on family-building options.

What is Commercial Gestational Surrogacy?

Commercial gestational surrogacy is the act of financially compensating women to carry a child that has no biological connections to her. New York will soon emerge from the pool of three states — New York (changing on February 15), Michigan, and Louisiana — that expressly prohibit commercial gestational surrogacy.

In an NBC News article, co-sponsor of the bill Assemblywoman Amy Paulin explains how this new law offers the strongest protections to surrogates in the country. To pursue surrogacy, criteria require:

The surrogate must be at least 21 years of age.
Intended parents must pay for legal counsel for their surrogate.
Intended parents must cover a surrogate’s health and life insurance during the pregnancy and a year after their surrogate gives birth.

«This law will allow families to avoid much of that pain by giving them the opportunity to have a family in New York and not travel around the country, incurring exorbitant costs simply because they want to be parents,» Paulin continued in a statement.

SGF Offers Options to Become a Parent through Gestational Carriers

SGF, one of the largest fertility centers in the country with offices in seven states and Santiago, Chile, has helped patients fulfill their dreams of parenthood through gestational surrogacy for more than 2 decades. SGF’s grand opening of its first full-service fertility and in vitro fertilization (IVF) program in the heart of New York City occurred in early September 2019 and is scheduled to open a Brooklyn office in Spring 2021.

SGF has helped over 1,000 intended parents have a baby through treatment with a gestational carrier. The dedicated clinical and financial teams work with intended parents to guide them through their fertility journey. Patients using a gestational carrier are also able to qualify for SGF’s exclusive Shared Risk 100% Refund Program. With the CPSA reform, SGF will empower New York patients to follow a similar path without having to explore out-of-state surrogacy options.

One SGF patient story follows the journey of how two best friends — Stephanie from Maryland and Katie from New York — secured a bond for life when Stephanie acted as Katie’s gestational carrier. Stephanie turned to SGF for fertility treatment to have her three children, and shares how she returned once again, except this time as a gestational carrier:

«One day, I got a call from my close family friend, Katie, who had an unusual life-changing question for me. She desperately wanted to complete her family but was unable to carry another child on her own. So, she wanted to know if would be willing to help her and her husband have another child via gestational carrier. Katie and her [daughter] bonded right away, and little Grace is a nearly identical copy of Katie as a baby. Katie and I are closer than ever. We live in different cities, and we’re both busy people of course, but this experience helped us solidify that we are really family and we’re here for each other no matter what.»

For New York-based patients who are considering gestational surrogacy to grow their families, SGF is here to help with this treatment option, which is now available thanks to the reform. Contact the SGF New Patient Center at 1-888-761-1967 or complete a brief online request form to schedule a virtual fertility consult with an SGF physician. A virtual physician consult is the first step toward pursuing a pregnancy with the help of SGF.

About Shady Grove Fertility (SGF)
SGF is a leading fertility and IVF center of excellence with more than 85,000 babies born and 5,000+ 5-star patient reviews. With 37 locations throughout FL, GA, MD, NY, PA, VA, D.C., and Santiago, Chile, we offer patients virtual physician consults, deliver individualized care, accept most insurance plans, and make treatment affordable through innovative financial options, including 100% refund guarantees. More physicians refer their patients to SGF than any other center. Call 1-888-761-1967 or visit ShadyGroveFertility.com.

Media Contact

Dana DeBoer, Shady Grove Fertility, 301-545-1378, dana.deboer@sgfertility.com

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SOURCE Shady Grove Fertility

Connected Infrastructure for Electric Buses in North America and Europe – Total Market Value of Public ITS for Electric Buses Forecast to Grow at a CAGR of 37% to Reach €74 Million by 2024

DUBLIN, Feb. 3, 2021 /PRNewswire/ — The «Connected…

DUBLIN, Feb. 3, 2021 /PRNewswire/ — The «Connected Infrastructure for Electric Buses in North America and Europe – Market Forecast to 2024″ report has been added to ResearchAndMarkets.com’s offering.

This report covers the latest trends and developments in the intelligent transportation system and charging station market for electric buses in public transport.

The total market value of public transport ITS for electric buses in Europe and North America is forecasted to grow at a compound annual growth rate of 37% from €15.4 million in 2019 to reach €74.2 million by 2024. The analyst at the same time estimates that the charging station market value for electric buses in the two regions was €190 million in 2019. Growing at a CAGR of 15.6%, the market value is expected to reach €392 million in 2024.

Highlights from this report:

Insights from 30 new executive interviews with market leading companies.
New data on electric bus fleets in Europe and North America.
Comprehensive description of the electric bus ITS value chain and key applications.
Profiles of 21 aftermarket ITS solution and 12 EV charging hardware vendors.
Summary of 20 OEM propositions from electric bus brands.
Case studies of 9 electric bus initiatives.
In-depth analysis of market trends and key developments.
Market forecasts lasting until 2024.

This report answers the following questions:

What is the current state and size of the electric bus market?
Which are the leading providers of public transport ITS solutions for electric buses?
What offerings are available from vehicle OEMs?
What equipment and service offerings are available from EV charging station vendors?
What are the key drivers behind the adoption of electric buses?
How are the regulatory developments in Europe and North America affecting the electric bus industry?
How will the electric bus and public transport ITS industry evolve in the future?

Key Topics Covered:

1 Public transport in Europe and North America

1.1 Modal split of passenger transport
1.2 Bus fleets and public transport utilisation
1.3 Market shares for bus and coach OEMs
1.4 Electric vehicle types and electric bus fleet statistics
1.5 Organisation and contracting in public transport

2 ITS technologies and solutions
2.1 Public transport ITS infrastructure
2.2 Public transport management
2.3 Traveller management
2.4 Driver management
2.5 Vehicle management
2.6 Charging station management

3 Charging technologies and standards
3.1 Electric vehicle charging
3.2 Connector standards
3.3 Electric bus charging

4 Market forecasts and trends
4.1 Market analysis
4.2 Value chain analysis
4.3 Industry trends
4.3.1 Open architectures alter the ITS value chain
4.3.2 Connected charging stations a requirement for public transport operations
4.3.3 The future of opportunity charging remains uncertain
4.3.4 Major bus OEMs enter the electric bus market
4.3.5 Standards improving interoperability essential for the electric bus market
4.3.6 The electric bus market continues to grow amid the COVID-19 crisis

5 OEM products and strategies
5.1 Alexander Dennis (NFI Group)
5.2 Bluebus (Bollore Group)
5.3 BYD
5.4 CaetanoBus (Salvador Caetano Group)
5.5 CNH Industrial
5.6 Daimler
5.7 Ebusco
5.8Gillig
5.9Irizar e-mobility (Irizar Group)
5.10 MAN Truck & Bus
5.11 New Flyer (NFI Group)
5.12 Optare
5.13 Proterra
5.14 Rampini
5.15 Scania
5.16 Solaris Bus and Coach
5.17 Van Hool
5.18 VDL Bus and Coach (VDL Groep)
5.19 Volvo Group
5.20 Yutong Group

6 Aftermarket solution providers
6.1 Actia
6.2Allego
6.3 Amply Power
6.4Atron
6.5 Clever Devices
6.6 Consat Telematics
6.7 ENGIE Solutions
6.8 FARA (Ticketer)
6.9 GIRO
6.10 INIT
6.11 IVU
6.12 Optibus
6.13 Pilotfish (Voith)
6.14 PSI Transcom
6.15 Sagasystem
6.16 Telia Company
6.17 Traffilog
6.18 Trapeze Group
6.19 ViriCiti
6.20 Webfleet Solutions
6.21 ZF Openmatics

7 Charging station providers
7.1ABB
7.2 BTCPower (Innogy)
7.3 ChargePoint
7.4 Circontrol
7.5 Efacec
7.6 Ekoenergetyka
7.7 Heliox
7.8 IES Synergy
7.9 SBRS (Schaltbau Group)
7.10 Siemens
7.11 Tritium
7.12 XCharge

8 Case studies: Electric bus projects
8.1 Arriva
8.2 Berliner Verkehersbetriebe (BVG)
8.3 Keolis
8.4 Metropolitan Transport Authority (MTA)
8.5 Nobina
8.6 Qbuzz
8.7 RATP Group
8.8 Toronto Transit Commission (TTC)
8.9 Transdev

For more information about this report visit https://www.researchandmarkets.com/r/o3jx0a

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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View original content:http://www.prnewswire.com/news-releases/connected-infrastructure-for-electric-buses-in-north-america-and-europe—total-market-value-of-public-its-for-electric-buses-forecast-to-grow-at-a-cagr-of-37-to-reach-74-million-by-2024-301221118.html

SOURCE Research and Markets

Competition is Fierce for Home Buyers, But Acting Quickly Could Save Them Hundreds on Their Monthly Payments

SEATTLE, Feb. 3, 2021 /PRNewswire/ — With mortgage rates at historic lows and homes flying off the market in record time, many prospective home buyers may be contemplating whether to buy now or wait until the frenzy slows down a bit. But the market is poised to <a target="_blank"…

Zillow experts predict 2021 to be an incredibly strong year for housing, forecasting 21.9% more sales than last year — the most in nearly four decades — and home values to rise 10.5% by December 2021.

That growth stems from a unique combination of market conditions, including extremely low interest rates, a wave of millennials who are aging into peak home buying years, and people re-evaluating their housing needs in light of COVID-19 and newfound freedom to work remotely. The increased adoption of tech tools that speeds up searching and purchasing also contributes to the incredibly c ompetitive market.

All of that might seem overwhelming for a buyer trying to compete for a new home, but this analysis shows why — for someone ready to buy now — it makes more sense to prepare smartly and dive in soon rather than wait and hope the market slows. The keys are the combination of home value growth and expected rising mortgage rates.

Today’s average mortgage rate^¹ is 2.68% for a 30-year fixed loan. Assuming that rate and a 20% down payment, the typical home in the U.S. would cost a buyer about $861 a month, plus taxes and insurance. But if home values rise 8% and interest rates climb to 3%, the monthly cost of that same house would be $969 a month. At 12% home value growth, the monthly payment jumps to $1,005. And if mortgage rates reach 3.5%, the costs grow even more. In more expensive markets, the difference is hundreds of dollars each month.

«The best time to buy a home should always be when it’s the right time for your family. However, home shoppers would be wise to gather as much information as possible and use it to make smart decisions that maximize their buying power,» said Zillow home trends expert Amanda Pendleton. «For someone ready to buy, jumping in sooner rather than later could mean a savings of hundreds of dollars a month. Or, more likely, it could mean having to make fewer tradeoffs to stay within budget.»

Zillow has tools like mortgage and refinance calculators that help buyers and homeowners estimate their monthly mortgage payments and understand how much home value growth and rates can impact buying power even in the short term. Those and a variety of other resources allow buyers and current homeowners to easily shop and compare the best mortgage options available to meet their unique needs.

The Cost to Refinancing Now Versus Later

For the same reasons, homeowners should consider refinancing soon, as well. A homeowner refinancing a typical U.S. home would pay $861 a month after refinancing at today’s average rate. If rates climb to 3%, it will cost an extra $36 a month. If rates jump to 3.5% or 3.75%, monthly payments would increase to $956 and $986 respectively. And in more expensive coastal markets, the savings easily reaches hundreds of dollars a month.

«Rates are near historic lows, and we expect rates to hover near current levels through the first quarter of 2021. Although we expect rates to slightly increase as the economy recovers from Covid-19, it remains to be seen when that recovery truly gains traction. While these rate fluctuations may seem like small changes, when homeowners do the math it is clear how lower rates can significantly reduce monthly payments for the life of the mortgage,» said Zillow senior economist Chris Glynn. «Like with any consumer decision, it is important to be informed, research the market and shop around to find the best deal possible. Qualified mortgage professionals can help individual consumers identify the loan rate, repayment term, and structure that meet their needs.»

Monthly Mortgage Payment Scenarios
Metro Area*	Current Rate (2.68%) & home value	3% Interest Rate & 8% home value a ppreciation	3% Interest Rate & 12% home value appreciation	3.5% Interest Rate & 8% home value appreciation	3.5% Interest Rate & 12% home value appreciation
United States	$861	$969	$1,005	$1,032	$1,071
New York, NY	$1,660	$1,868	$1,938	$1,990	$2,064
Los Angeles, CA	$2,395	$2,695	$2,795	$2,871	$2,977
Chicago, IL	$836	$941	$976	$1,002	$1,040
Dallas-Fort Worth, TX	$876	$986	$1,023	$1,050	$1,089
Philadelphia, PA	$890	$1,002	$1,039	$1,068	$1,107
Houston, TX	$740	$833	$864	$888	$921
Washington, DC	$1,527	$1,719	$1,783	$1,831	$1,899
Miami-Fort Lauderdale, FL	$1,034	$1,164	$1,207	$1,240	$1,286
Atlanta, GA	$847	$953	$988	$1,015	$1,053
Boston, MA	$1,735	$1,952	$2,025	$2,080	$2,157
San Francisco, CA	$3,779	$4,253	$4,411	$4,530	$4,698
Detroit, MI	$638	$718	$744	$765	$793
Riverside, CA	$1,385	$1,559	$1,616	$1,660	$1,721
Phoenix, AZ	$1,063	$1,196	$1,240	$1,274	$1,321
Seattle, WA	$1,897	$2,135	$2,214	$2,274	$2,358
Minneapolis- St. Paul, MN	$1,023	$1,152	$1,194	$1,227	$1,272
San Diego, CA	$2,196	$2,472	$2,564	$2,633	$2,731
St. Louis, MO	$632	$712	$738	$758	$786
Tampa, FL	$821	$924	$958	$984	$1,020
Baltimore, MD	$1,025	$1,154	$1,197	$1,229	$1,275
Denver, CO	$1,558	$1,754	$1,819	$1,868	$1,937
Pittsburgh, PA	$569	$641	$664	$682	$708
Portland, OR	$1,466	$1,651	$1,712	$1,758	$1,823
Charlotte, NC	$845	$951	$986	$1,013	$1,050
Sacramento, CA	$1,537	$1,730	$1,795	$1,843	$1,911
San Antonio, TX	$712	$801	$831	$853	$885
Orlando, FL	$884	$995	$1,032	$1,060	$1,099
Cincinnati, OH	$667	$750	$778	$799	$829
Cleveland, OH	$562	$633	$656	$674	$699
Kansas City, MO	$728	$819	$849	$872	$905
Las Vegas, NV	$1,015	$1,142	$1,184	$1,216	$1,261
Columbus, OH	$748	$842	$873	$896	$930
Indianapolis, IN	$655	$737	$764	$785	$814
San Jose, CA	$4,167	$4,691	$4,864	$4,996	$5,181
Austin, TX	$1,225	$1,379	$1,430	$1,468	$1,523
Virginia Beach, VA	$846	$953	$988	$1,015	$1,052
Nashville, TN	$973	$1,095	$1,135	$1,166	$1,209
Providence, RI	$1,144	$1,288	$1,335	$1,372	$1,422
Milwaukee, WI	$703	$791	$820	$843	$874
Jacksonville, FL	$805	$906	$940	$965	$1,001
Memphis, TN	$555	$625	$648	$665	$690
Oklahoma City, OK	$547	$615	$638	$655	$679
Louisville, KY	$635	$715	$742	$762	$790
Hartford, CT	$837	$942	$977	$1,003	$1,040
Richmond, VA	$861	$970	$1,005	$1,033	$1,071
New Orleans, LA	$718	$808	$838	$860	$892
Buffalo, NY	$624	$702	$728	$748	$775
Raleigh, NC	$983	$1,106	$1,147	$1,178	$1,222
Birmingham, AL	$604	$679	$705	$724	$750
Salt Lake City, UT	$1,386	$1,560	$1,618	$1,662	$1,723
*Table ordered by market size

About Zillow Group
Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life’s next chapter.

As the most-visited real estate website in the U.S., Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and nearly seamless end-to-end service. Zillow Offers® buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans™, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. Zillow recently launched Zillow Homes, Inc., a licensed brokerage entity, to streamline Zillow Offers transactions.

Zillow Group’s affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Zillow Homes, Inc., Trulia®, Out East®, StreetEasy® and HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).

^¹ As of December 2020

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SOURCE Zillow

‘Quick Nick’ Tests Battista Prototype As hyper GT Development Accelerates

– Ex-Formula 1 and Formula E racer Nick Heidfeld brings his expertise to the test programme of the Battista pure-electric hyper GT

– Heidfeld joins Vehicle Development team at Nardò Technical Center in Italy for his debut Battista test, as engineers fine-tune its bespoke dynamics package

– Heidfeld said: «What really surprised me was how natural the Battista feels on the track. We are creating a hyper GT to be enjoyed at all speeds, yet here in Nardò the cornering control and speed…

– Ex-Formula 1 and Formula E racer Nick Heidfeld brings his expertise to the test programme of the Battista pure-electric hyper GT

– Heidfeld joins Vehicle Development team at Nardò Technical Center in Italy for his debut Battista test, as engineers fine-tune its bespoke dynamics package

– Heidfeld said: «What really surprised me was how natural the Battista feels on the track. We are creating a hyper GT to be enjoyed at all speeds, yet here in Nardò the cornering control and speed we achieved were exceptional.»

– Track testing enables ongoing refinement and modification of elements including tailored chassis settings, aerodynamics package, torque vectoring and five selectable driving modes

– Watch Nick Heidfeld on his debut test of the Battista hyper GT prototype here: youtube.com/watch?v=jyY95MUhBa4

NARDÒ, Italy, Feb. 3, 2021 /PRNewswire/ — Legendary racer and Automobili Pininfarina Test and Development Driver Nick Heidfeld has taken the new Battista hyper GT on track for the first time as part of the ongoing prototype development at the Nardò Technical Center in Italy.

Heidfeld has played a key role in the development of Battista from the inception of the project. In 2019 he joined Automobili Pininfarina designers and engineers to provide ergonomics feedback on a physical – rather than virtual – prototype for the first time. Soon after, Nick was in the seat of an advanced dynamic simulator in Italy, with the brief to support dynamic set-up of the 1,900 PS, all-wheel drive electric hyper GT.

His unparalleled knowledge and more than 25 years of experience in high performance motorsport continue to support refinement of Battista’s bespoke chassis settings and software calibration, ahead of the hyper GT entering production in Italy in the summer of 2021.

Nick Heidfeld said: «It has been really special to experience the Battista on the track for the first time. With the prototype at an advanced stage of development, we are testing Battista with around 80 per cent of its potential power, the performance and acceleration is already beyond anything I could imagine.»

«What really surprised me was how natural the Battista feels on the track. We are creating a hyper GT to be enjoyed at all speeds, yet here in Nardò the cornering control and speed we achieved were exceptional. Minimal traction control and torque vectoring are active at this stage of prototype development, yet there is so much grip to exploit.»

«It was my first time driving on the Nardò handling circuit, so I spent some time looking at films of onboard laps online to familiarise myself with the layout. I quickly realised they would be of little use, because the acceleration of Battista is on another level to even the world’s fastest road cars.»

«To meet our aim of delivering a hyper GT, a car that can be enjoyed anywhere and in all conditions, we are developing Battista with two tyre combinations. The Michelin Pilot Sport Cup 2R is our preferred performance tyre and combined with lightweight ‘Impulso’ wheels it provides an outstanding combination of maximum grip and feel, a perfect fit for a race circuit.»

«I have to say, that very honestly, driving the Battista prototype far exceeded my expectations. It’s like nothing I have experienced ever before. I can’t wait to try the Battista away from the track, chasing corners on mountain roads.»

The Automobili Pininfarina Battista is the most powerful road-legal car ever designed and built in Italy. No more than 150 Battistas will be individually hand-crafted at the Pininfarina SpA atelier in Turin, Italy, with the first cars set to be delivered to clients later this year.

For more information, visit automobili-pininfarina.com/media-zone.

EDITOR’S NOTES

ABOUT AUTOMOBILI PININFARINA

Automobili Pininfarina is based in operational headquarters in Munich, Germany, with a team of experienced automotive executives from luxury and premium car brands. Designed, engineered and produced by hand in Italy, the Battista hyper GT and all future models will be sold and serviced in all major global markets under the brand name Pininfarina. The new company aims to be the most sustainable luxury car brand in the world.

The company is a 100 per cent Mahindra & Mahindra Ltd investment and has been named Automobili Pininfarina following the signing of a trademark licence agreement between Pininfarina S.p.A. and Mahindra & Mahindra Ltd. Pininfarina S.p.A. will take an influential role in supporting design and production capacities based on their unique 90-year experience of producing many of the world’s most iconic cars.

ABOUT NICK HEIDFELD

Starting his motorsport career in 1994 by racing in the German Formula Ford race series, Nick Heidfeld (43) would go on to race in various competitions before making his debut in Formula 1 in 2000. After more than 10 years at the pinnacle of motorsport, he became the first driver to make the move across to the pinnacle of electrified motorsport, when he entered his first race in Formula E in 2014. With unrivalled expertise in developing and honing the characteristics of performance vehicles, Brand Ambassador Nick has been part of the Automobili Pininfarina Vehicle Development team since the beginning of the Battista programme and played a key role in simulation testing of the pure-electric hyper GT.

Video – https://mma.prnewswire.com/media/1431630/Automobili_Pininfarina.mp4
Photo – https://mma.prnewswire.com/media/1431494/Automobili_Pininfarina_Nick_Heidfeld.jpg
Photo – https://mma.prnewswire.com/media/1431490/Automobili_Pininfarina_Nardo_1.jpg
Photo – https://mma.prnewswire.com/media/1431493/Automobili_Pininfarina_Nardo_2.jpg
Logo – https://mma.prnewswire.com/media/1316779/Automobili_Pininfarina_Logo.jpg

Autor venredPublicado el 3 febrero, 2021Categorías Hispanicmotorpress

‘Quick Nick’ Tests Battista Prototype As hyper GT Development Accelerates

– Ex-Formula 1 and Formula E racer Nick Heidfeld brings his expertise to the test programme of the Battista pure-electric hyper GT

– Heidfeld joins Vehicle Development team at Nardò Technical Center in Italy for his debut Battista test, as engineers fine-tune its bespoke dynamics package

– Heidfeld said: «What really surprised me was how natural the Battista feels on the track. We are creating a hyper GT to be enjoyed at all speeds, yet here in Nardò the cornering control and speed…

– Ex-Formula 1 and Formula E racer Nick Heidfeld brings his expertise to the test programme of the Battista pure-electric hyper GT

– Heidfeld joins Vehicle Development team at Nardò Technical Center in Italy for his debut Battista test, as engineers fine-tune its bespoke dynamics package

– Heidfeld said: «What really surprised me was how natural the Battista feels on the track. We are creating a hyper GT to be enjoyed at all speeds, yet here in Nardò the cornering control and speed we achieved were exceptional.»

– Track testing enables ongoing refinement and modification of elements including tailored chassis settings, aerodynamics package, torque vectoring and five selectable driving modes

– Watch Nick Heidfeld on his debut test of the Battista hyper GT prototype here: youtube.com/watch?v=jyY95MUhBa4

NARDÒ, Italy, Feb. 3, 2021 /PRNewswire/ — Legendary racer and Automobili Pininfarina Test and Development Driver Nick Heidfeld has taken the new Battista hyper GT on track for the first time as part of the ongoing prototype development at the Nardò Technical Center in Italy.

Heidfeld has played a key role in the development of Battista from the inception of the project. In 2019 he joined Automobili Pininfarina designers and engineers to provide ergonomics feedback on a physical – rather than virtual – prototype for the first time. Soon after, Nick was in the seat of an advanced dynamic simulator in Italy, with the brief to support dynamic set-up of the 1,900 PS, all-wheel drive electric hyper GT.

His unparalleled knowledge and more than 25 years of experience in high performance motorsport continue to support refinement of Battista’s bespoke chassis settings and software calibration, ahead of the hyper GT entering production in Italy in the summer of 2021.

Nick Heidfeld said: «It has been really special to experience the Battista on the track for the first time. With the prototype at an advanced stage of development, we are testing Battista with around 80 per cent of its potential power, the performance and acceleration is already beyond anything I could imagine.»

«What really surprised me was how natural the Battista feels on the track. We are creating a hyper GT to be enjoyed at all speeds, yet here in Nardò the cornering control and speed we achieved were exceptional. Minimal traction control and torque vectoring are active at this stage of prototype development, yet there is so much grip to exploit.»

«It was my first time driving on the Nardò handling circuit, so I spent some time looking at films of onboard laps online to familiarise myself with the layout. I quickly realised they would be of little use, because the acceleration of Battista is on another level to even the world’s fastest road cars.»

«To meet our aim of delivering a hyper GT, a car that can be enjoyed anywhere and in all conditions, we are developing Battista with two tyre combinations. The Michelin Pilot Sport Cup 2R is our preferred performance tyre and combined with lightweight ‘Impulso’ wheels it provides an outstanding combination of maximum grip and feel, a perfect fit for a race circuit.»

«I have to say, that very honestly, driving the Battista prototype far exceeded my expectations. It’s like nothing I have experienced ever before. I can’t wait to try the Battista away from the track, chasing corners on mountain roads.»

The Automobili Pininfarina Battista is the most powerful road-legal car ever designed and built in Italy. No more than 150 Battistas will be individually hand-crafted at the Pininfarina SpA atelier in Turin, Italy, with the first cars set to be delivered to clients later this year.

For more information, visit automobili-pininfarina.com/media-zone.

EDITOR’S NOTES

ABOUT AUTOMOBILI PININFARINA

Automobili Pininfarina is based in operational headquarters in Munich, Germany, with a team of experienced automotive executives from luxury and premium car brands. Designed, engineered and produced by hand in Italy, the Battista hyper GT and all future models will be sold and serviced in all major global markets under the brand name Pininfarina. The new company aims to be the most sustainable luxury car brand in the world.

The company is a 100 per cent Mahindra & Mahindra Ltd investment and has been named Automobili Pininfarina following the signing of a trademark licence agreement between Pininfarina S.p.A. and Mahindra & Mahindra Ltd. Pininfarina S.p.A. will take an influential role in supporting design and production capacities based on their unique 90-year experience of producing many of the world’s most iconic cars.

ABOUT NICK HEIDFELD

Starting his motorsport career in 1994 by racing in the German Formula Ford race series, Nick Heidfeld (43) would go on to race in various competitions before making his debut in Formula 1 in 2000. After more than 10 years at the pinnacle of motorsport, he became the first driver to make the move across to the pinnacle of electrified motorsport, when he entered his first race in Formula E in 2014. With unrivalled expertise in developing and honing the characteristics of performance vehicles, Brand Ambassador Nick has been part of the Automobili Pininfarina Vehicle Development team since the beginning of the Battista programme and played a key role in simulation testing of the pure-electric hyper GT.

Video – https://mma.prnewswire.com/media/1431630/Automobili_Pininfarina.mp4
Photo – https://mma.prnewswire.com/media/1431494/Automobili_Pininfarina_Nick_Heidfeld.jpg
Photo – https://mma.prnewswire.com/media/1431490/Automobili_Pininfarina_Nardo_1.jpg
Photo – https://mma.prnewswire.com/media/1431493/Automobili_Pininfarina_Nardo_2.jpg
Logo – https://mma.prnewswire.com/media/1316779/Automobili_Pininfarina_Logo.jpg

View original content:http://www.prnewswire.com/news-releases/quick-nick-tests-battista-prototype-as-hyper-gt-development-accelerates-301221051.html

SOURCE Automobili Pininfarina

Autor venredPublicado el 3 febrero, 2021Categorías Geovanny Vicente

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