October 15, 2018 13:38 CET
STOCKHOLM — BMW will team up with Northvolt, which is building Europe’s largest battery factory in Sweden, and Belgium’s Umicore to develop a process for electric car batteries to be recycled, the automaker said in a statement.
BMW had a funding investment of undisclosed size in the venture, the Swedish startup, which plans to build a factory in Sweden to produce 32 gigawatt hours (GWh) of battery capacity a year by 2023, said on Monday.
The Continue reading “BMW, Northvolt and Umicore team up on battery recycling”
October 15, 2018 10:00 CET
— UPDATED: Oct. 15 11:51 CET – adds analyst comments
WEISSACH, Germany — Porsche could be worth a fortune if listed with Volkswagen Group’s ultraluxury brands, finance chief Lutz Meschke said.
By applying same stock market metrics as Ferrari, Meschke said that shares in a car company led by Porsche and including Bentley, Bugatti and Lamborghini could easily attain a market capitalization more than three times that of the Italian supercar maker, which is Continue reading “Porsche CFO sees huge potential for VW ‘super group’”
With the diesel Bentley Bentayga dead, we see how good the most economical Bentayga is on the roadVerdict4If you like your SUVs with heaps of clamorous character, few come close to the twin-turbo Bentley Bentayga V8. Opulent, ostentatious and surprisingly fun to drive, the brutish off-roader displays personality and charm by the bucket-load. While many will opt for the W12 simply for its flagship status, it’s the V8 that represents the sweet spot in the range.
With Bentley the latest in a Continue reading “New Bentley Bentayga V8 2018 review”
2019 Hyundai Kona Electric
We got a chance drove the 238-mile Hyundai Kona Electric and came away mostly impressed. Mercedes-Benz announced a truly long-range plug-in hybrid. Hot seats lead to a recall for the Kia Niro hybrid. And we explore who should replace Elon Musk as chairman of Tesla’s board in our latest Twitter poll. All this and more on Green Car Reports.
We finally had a chance to drive the hotly anticipated Hyundai Kona electric and found it impressive all around. Less Continue reading “2019 Hyundai Kona Electric, Tesla board, long-range Mercedes plug-in: Today’s Car News”
2020 Mercedes-Benz GLE
Mercedes’s new line of more capable plug-in hybrids will start with the 2020 Mercedes-Benz GLE plug-in hybrid that the company says has more electric driving range than previous efforts.
It will arrive late next year and will be based on a redesigned version of the mid-size GLE SUV arriving with gas power next spring.
The company didn’t release many other details about the new model or its powertrain, but Daimler sales chief Ola Kaellenius told trade publication Continue reading “2020 Mercedes-Benz GLE plug-in hybrid to have 60 miles of electric range?”
Elon Musk at Tesla Model 3 reveal
As Elon Musk prepares to step aside from Tesla’s board in an expected settlement with the SEC, speculation has erupted over who might replace him.
According to the SEC settlement, the new chairman must be an independent board member—not one tied to Musk.
Tesla’s board currently has two independent members, and the SEC settlement will require the company to add two more independent directors.
DON’T MISS: Tesla CEO Elon Musk settles lawsuit with Continue reading “Who should lead Tesla’s board after Musk steps down? Take our Twitter poll”
2019 Kia Niro
Drive a 2017 Kia Niro (or a 2018) and find your back seat becoming a hot seat? It might be a good idea to stop driving it and call your dealership.
In 2017 and some 2018 Kia Niro models, a main relay, within what’s called the power relay assembly, may not have adequate contact connections. The result could be increased electrical resistance—with excess heat, and potentially fire. Warning signs could include an HEV warning light while driving, and/or an inability to start Continue reading “2017-2018 Kia Niro hybrid recall concerns extra heat in the back seat”
2019 Rolls-Royce Cullinan
The Rolls-Royce Cullinan marked the first time the British luxury marque expanded its horizons to the booming SUV segment, but the brand may not stop there: the Cullinan could be in for a hybrid powertrain.
That’s the word from Top Gear magazine, which reported last week that a Cullinan hybrid is “definitely” in the cards.
We don’t know when, but it appears Rolls-Royce is keen to expand the Cullinan’s offerings. The SUV’s standalone engine, the 6.75-liter Continue reading “Rolls-Royce Cullinan hybrid reportedly in the cards”
Audi Matrix LED headlight technology
While automakers have implemented advanced headlight technology in other markets for years, outdated regulations in the United States have kept advances from the market. That will soon change as the U.S. will soon allow self-dimming adaptive headlight technology.
The National Highway Traffic and Safety Administration officially proposed the new regulation on October 11, commenting that the technology “has the potential to reduce the risk of crashes by Continue reading “US to finally allow modern, self-dimming adaptive headlights”
2019 Porsche Macan
Going public with an IPO is a quick way to raise capital, which is important to Volkswagen Group in the wake of the diesel scandal. Porsche could provide that capital with an IPO of its own, if it were interested.
On Friday finance chief Lutz Meschke floated the idea during a media event for the automaker’s upcoming Taycan electric car. Bloomberg reported Meschke said Porsche could be valued “between 60 billion and 70 billion” euros ($69.4 to $81 billion dollars).
Meschke said funds from a public offering would finance future development as the industry faces “the biggest transformation ever.”
A Porsche U.S. spokesman provided Motor Authority with a public statement about Meschke’s comments. “Porsche does not currently have any plans to pursue a (partial) initial public offering (IPO). The Stuttgart-based sports car manufacturer denies all reports to the contrary that claim an IPO is in progress,” the statement read.
Volkswagen Group could also form a “Super Group” with Bugatti, Lamborghini, Bentley, and Porsche for an IPO.
Meschke referenced that Ferrari had a successful IPO, and Aston Martin recently went public as well.
No formal decisions have been made, but both McLaren and Cosworth have discussed going public in the near future.
Bloomberg reported Porsche had an operating return of more than 17 percent on sales of 32.5 billion euros ($37.68 billion).