DETROIT — General Motors Co. (NYSE: GM; TSX: GMM.U) today announced that it has applied and received approval for a voluntary delisting of its common stock from the Toronto Stock Exchange (TSX) in Canada. The delisting from the TSX will not affect the company’s listing on the New York Stock Exchange (NYSE).
Trading on the NYSE and alternative platforms accounts for a vast majority of GM’s current daily trading volume. Given the relatively low trading volume of its shares on the TSX and the fact that GM’s NYSE listing provides its shareholders with sufficient liquidity, the company believes that the costs associated with maintaining a dual listing are no longer justified. Accordingly, effective at the close of markets on Nov. 30, 2017 the company’s shares will no longer be traded on the TSX.
After delisting from the TSX, the company’s common stock will continue to trade on the NYSE under the symbol GM. Shareholders will be able to continue to trade their shares on other exchanges and those who wish to do so should contact their broker or investment manager for further details.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.
General Motors Co. (NYSE: GM, TSX: GMM), its subsidiaries and joint venture entities produce and sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang and Wuling brands. GM has leadership positions in several of the world’s most significant automotive markets and is committed to lead the future of personal mobility. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
New division between wheel and axle: Continental presents the New Wheel Concept, which optimizes the braking system specifically of the electric vehicle (EV).
The design enables the use of a large aluminum brake disk and solves the problem of bad braking performance due to corroded brake disks.
The dual New Wheel Concept also reduces the weight of the wheel and brake and reduces service costs due to a lifetime brake disk and an easy brake pad change.
Frankfurt/Main, Germany. The technology company Continental has again expanded its solution portfolio for electric vehicles, developing the New Wheel Concept to meet the specific requirements of these vehicles. The wheel rim consists of two aluminum (Al) parts, the inner Al carrier star with the Al brake disk and the outer Al rim well with the tire. In contrast to conventional wheel brakes, the New Wheel Concept brake engages the Al disk from the inside. This allows it to have a particularly large diameter, which benefits the braking performance.
To increase the vehicle’s range, deceleration in the EV generates as much electricity as possible through recuperation (= braking using the electric motor), so the wheel brake is used less frequently. The corrosion-free Al brake disk also prevents the formation of rust (as is normal on cast-iron disks) which can impair the braking effect.
“Electromobility needs new solutions for braking technology too,” says Matthias Matic, Head of Continental’s Hydraulic Brake Systems Business Unit. “Using conventional brakes is not very effective in this case. The New Wheel Concept meets all the demands that electric driving places on the brake. We used our braking know-how to develop a solution that provides a consistently reliable braking effect in the electric vehicle.”
Thanks to the lightweight material, the New Wheel Concept reduces the weight of the wheel and brake, enabling lightweight construction in EVs. Advantages of the concept are much easier wheel and brake pad changes and that the disk is not subject to wear.
Rethinking the wheel
The New Wheel Concept is based on a new division between the wheel and the axle. Here the wheel consists of two parts, the aluminum carrier star, which remains permanently bolted to the wheel hub, and the rim well, which is bolted to the star. The wheel brake is fastened to the wheel carrier of the axle and engages from the inside with an annular aluminum brake disk, which in turn is bolted to the carrier star. The internal brake permits a wide brake disk friction radius, since the space available in the wheel is optimally utilized. During its development, the New Wheel Concept’s braking performance was initially designed for medium and compact class vehicles. In accordance with today’s requirements for this application, the brake is sturdy and fulfills all the established criteria – although it is used much less frequently in an EV.
“In EVs, it’s crucial that the driver expends as little energy as possible on the friction brake,” says Paul Linhoff, Head of Brake Pre-Development in the Chassis & Safety Business Unit at Continental. “During a deceleration, the momentum of the vehicle is converted into electricity in the generator to increase the vehicle’s range. That’s why the driver continues to operate the brake pedal – but it certainly doesn’t mean that the wheel brakes are active too.” The deceleration torque of the electric motor is only no longer sufficient by itself when the driver brakes more energetically, or braking also has to carried out with the non-driven axle for driving dynamics reasons. The wheel brake is needed in this situation – and it must be available. “Drivers want to be able to rely on a consistent braking effect – and too much rust on the brake disk in particular can really make this difficult,” Linhoff emphasizes. The reason behind the reduced performance is less friction between the brake pad and the brake disk. The automatic emergency braking function also has to fully rely on the availability of the friction brake effect.
In perfect harmony – material and design
The design of the New Wheel Concept uses the strengths of lightweight aluminum material for the brake. Thanks to the long leverage effect on the large brake disk, relatively low clamping forces are enough to provide a high level of braking efficiency – and since aluminum is a very good heat conductor, the heat generated in the disk during braking is quickly dissipated.
Continental assumes, after the results of the initial practical tests, that the Al disk itself is not subject to wear, unlike cast-iron disks. With the New Wheel Concept, abrasion only takes place on the pads, and the design of the Concept makes replacing them – and the wheels – much easier. The New Wheel Concept has yet another positive: “Because the brake disk is fixed on the outside and the brake engages from the inside, the brake caliper can be designed particularly light and stiff. The force is transmitted largely symmetrically into the center of the axle, and this has a favorable effect on the noise behavior of the brake,” says Linhoff – and that’s a side effect which is particularly attractive in a quiet EV.
Continental will also demonstrate the New Wheel Concept during the International Motor Show, IAA in Frankfurt/Main (Hall 5.1. Booth A07 / A08).
Australian battery company Redflow Limited has today announced it has established a company in Thailand to manage production of its zinc-bromine flow batteries in South East Asia.
In May, the ASX-listed company (ASX:RFX) announced its decision to move its battery manufacturing from North America to South East Asia, to be closer to its most lucrative markets, in Australia, Oceania and southern Africa, and to reduce production costs.
In a statement to the ASX this morning, Redflow reported that it has established Redflow (Thailand) Limited, which is negotiating a lease on premises in a Thai free trade zone. It is also seeking Thai licensing and regulatory approvals.
As well as its location, close to Redflow’s supply chain and marketplaces, Thailand offers good manufacturing expertise, competitive logistics, an attractive labour cost and effective tax treatment for international manufacturers within its free trade zone structure.
Redflow CEO Simon Hackett said the final North American production batch of ZBM2 batteries was now in transit to Australia. “I’m pleased to report that our stack manufacturing equipment from North America has arrived in Thailand ahead of schedule,” he said.
”We remain on track to commence production with our new manufacturing partner MPTS as planned.”
Redflow also reported that its integration partners have sold its ZCell batteries for residential and commercial properties in Queensland, NSW, ACT, Tasmania, Victoria and SA.
Mr Hackett said most ZCell batteries were deployed in scalable configurations using multiple parallel batteries, which leverage the key technical and economic advantages of Redflow’s unique technology. “Popular configurations include 2-6 battery off-grid residential systems and 3-6 battery on-grid residential and commercial systems,” he said.
The ASX update stated that Redflow has now delivered all the batteries for its largest order to date, to New Zealand-based telecommunication systems integrator Hitech Solutions.
Hitech Solutions has commenced construction of the first of its modular energy systems to include the use of Redflow batteries. These energy systems are sized to suit the requirements of each destination site and will be deployed progressively across multiple locations in a Pacific Island nation.
Redflow also reported it is confident that the performance issues reported earlier this year are now resolved. The company has successfully tested and proved the process to remediate battery electrolyte in cases where battery quality testing indicates that this is desirable. Redflow is now progressively applying this remediation to those batteries that require it.
Redflow’s unique zinc-bromine flow batteries are designed for stationary energy storage applications ranging from its ZCell residential battery to its scalable ZBM2 batteries for industrial, commercial, telecommunications and grid-scale deployment. Redflow Limited, a publicly-listed company (ASX: RFX), produces high energy density batteries that are sold, installed and maintained by an international network of system integrators. Redflow batteries offer unique advantages including 100 per cent depth of discharge, tolerance of ambient temperatures as hot as 50 degrees Celsius and sustained energy storage of 10 kilowatt hours (kWh) throughout its operating life.