AAM

Last Updated: March 20, 2024, 10:38 ISTSuzuki And SkyDrive Partners To Begin Production Of Flying Cars In Japan. (Photo: The Japan Times)The collaboration between Suzuki and SkyDrive signals a promising future for the development and commercialization of flying cars, potentially transforming urban transportation.Suzuki Motor Corporation and SkyDrive Inc. have joined hands to kick off the production of flying cars at a Suzuki-owned plant in Iwata City, Shizuoka Prefecture, Japan.These flying cars, also known as eVTOLs, are…

Air taxi developer Archer Aviation has announced a new partnership with the National Aeronautics and Space Administration (NASA), which will initiate their mutual research into future advanced air mobility (AAM) applications with what they see as the lynchpin of the new tech’s performance – powerful but safe batteries. Archer and NASA unveiled their agreement this morning, saying the project will look to improve various elements of the emerging AAM industry. Their first step in the wider…

Leading global advanced air mobility (AAM) company Joby may have decided to set up its future production line in Ohio as the most financially alluring locale vying for its presence, but California is looking to get as much job creation and economic activity from the Santa Cruz-based air taxi startup before its focus shifts east – and has just handed over a nearly $10 million grant to prove it. Joby announced today that it has been awarded a $9.8 million California Competes grant by the Governor’s…

<!----> American Axle & Manufacturing (AAM) booked a net loss in the first quarter of 2023 of…

AAM sales in the third quarter of 2022 were up to US$1.54bn versus $1.21bn in Q3 2021. Q3 sales were “favourably impacted” by the recent Tekfor acquisition and volume and mix, the supplier said in a statement. Net income rose to $26.5m, or $0.22 per share, an improvement from the year ago net loss of $2.4m or $(0.02) per share. Adjusted EBITDA was $198.4m, or 12.9% of sales, versus $183.2m (15.1%). Updated…

American Axle & Manufacturing said sales in the second quarter of 2022 were US$1.44 billion versus $1.28 billion in Q2 2021. “On a year over year basis, Q2 sales were favourably impacted by supply chain improvements, volume and mix, and the Tekfor acquisition, the supplier said. “In addition, metal market pass-throughs to customers and foreign exchange added approximately $27 million in sales to the quarter.” Net…

AAM's sales in the first quarter of 2022 were $1.44 billion versus $1.43 billion in Q1 2021. Sales were hit by the semiconductor chip shortage and there were also metal cost rises and a foreign exchange hit. Net income of $1.0 million, or $0.01 a share, compared with $38.6 million, or $0.33 a share. Full year revised 2022 financial targets are sales in the range of $5.6 - $5.8 billion and adjusted EBITDA of $785 million - $830 million based on North American light vehicle production of 14.3 million - 14.7…