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GM may revive Hummer as EV brand; Go-Jek CEO quits to join Indonesia's cabinet

TOP NEWS

* General Motors Co. will make premium electric pickup trucks and SUVs under a new brand at its Detroit-Hamtramck plant from late 2021 and is considering Hummer as the brand name, Reuters reported, citing people familiar with the matter. The company reportedly plans to start producing an electric pickup in low-volume by late 2021, following which it will introduce a performance variant of the pickup in 2022, with an electric SUV under the same new brand to roll out in 2023.

* Nadiem Makarim, the CEO and co-founder of Indonesian ride-hailing giant PT Go-Jek Indonesia, resigned to join the cabinet of reelected Indonesian President Joko Widodo, Reuters reported, citing a statement. The company named President Andre Soelistyo and co-founder Kevin Aluwi his joint successors and said "there would no disruption to its business."

CARMAKERS

* S&P Global Ratings placed Nissan Motor Co. Ltd.'s A- long-term issuer credit ratings and unsecured debt issue ratings on CreditWatch with negative implications, citing the likelihood of weaker earnings for the Japanese carmaker. The agency said it placed the company on CreditWatch Negative to reflect its expectation that the business environment will remain difficult in some of the group's key markets, including the U.S., China and Europe.

* JPMorgan economist Daniel Silver said the United Auto Workers' strike against General Motors could cut U.S. job growth by up to 75,000 jobs in October, Reuters reported. Citing a research note by Silver, the report said layoffs both directly and indirectly related to the strike could affect the October employment report, which will be published on Nov. 1 by The Labor Department's Bureau of Labor Statistics.

* General Motors temporarily stopped production of its Chevy Blazer SUV after an auto parts shortage caused by the UAW strike hit a manufacturing plant in Mexico, Reuters reported. Though GM and the UAW have reached a tentative deal, workers will remain on strike until the union votes on the deal by Oct. 25. UAW is yet to reach a deal with Ford Motor Co. and Fiat Chrysler Automobiles NV.

ELECTRIC VEHICLES

* Volkswagen AG said it is looking for 12 cities to partner with to test its e-mobility and clean transportation solutions, including projects such as electric city buses, e-bikes and ride-sharing services.

* Winnebago Industries Inc. said it co-led a $60 million investment in Motiv Power Systems, which develops electric powertrains, to start producing electrified recreational and commercial vehicles, Electrek reported, citing executive Ashis Bhattacharya.

* VPP Japan will install electric-vehicle charging stations equipped with solar panels across retail shops in Tokyo, The Nikkei Asian Review reported.

AUTONOMOUS AND CONNECTED VEHICLES

* South Korea's Hyundai Motor Group, which owns Hyundai Motor Co. and Kia Motors Corp., unveiled the Machine Learning-based technology Smart Cruise Control, or SCC-ML, which allows self-driving cars to mirror the owner's driving patterns and behavior.

* Mitsubishi Electric Corp. will unveil the xAUTO, a self-driving vehicle that uses high-definition maps to navigate and park, during the Tokyo Motor Show.

MOBILITY SERVICES

* BMW AG is seeking to include additional partners for the mobility services joint venture that it runs with Daimler AG, Reuters reported, citing BMW CEO Oliver Zipse's interview with the German-language newspaper Frankfurter Allgemeine Sonntagszeitung. Zipse reportedly said future partners will have the option to either collaborate or make financial investments.

* Uber Technologies Inc.'s food delivery service Uber Eats introduced a pickup feature, which lets users place orders at restaurants and pick them up with electric bikes provided by Uber's Jump unit. The ride-hailing app is piloting the feature in Denver; Los Angeles; Miami; Sacramento, Calif.; Austin, Texas; and Washington, D.C.

COMMERCIAL VEHICLES

* Portuguese bus-maker CaetanoBus equipped five of its H2 buses with Toyota Motor Corp.'s fuel cell stacks, giving the vehicles a 400-kilometer range with a refueling time of about 9 minutes. Toyota Europe added that the hydrogen fuel cell buses will be trialed in the next months and commercialized in mid-2020.

MOTORCYCLES

* Harley-Davidson Inc. said it resumed production and deliveries for its first electric motorcycle, the LiveWire, Electrek reported. The company, which recently found a "non-standard condition" during a final quality check, said users can now continue using and charging the motorcycle as normal.

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The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng was up 0.08% to 26,740.24, while the Nikkei 225 inched up 0.25% to 22,548.90.

In Europe, around midday, the FTSE 100 was up 0.12% to 7,159.47, while the Euronext 100 was up 0.14% to 1,090.88.

On the macro front

No notable reports are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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