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Recharge Wrap-up: Storm Pulse EV touring motorcycle, Elio COO launches YoYo car subscription service

The Eindhoven University of Technology in The Netherlands has created the Storm Pulse electric touring motorcycle. Its 28.5-kWh modular battery pack provides 236 miles of riding on a single charge. The batteries can be charged on a standard household outlet, and can be swapped out in a matter of minutes. The Storm Eindhoven team is raising money to take the prototype bike on a world tour this summer, covering 40,000 kilometers (24,855 miles) in 80 days, not just to show off the Pulse, but also to demonstrate the feasibility of electric mobility. Check it out in the video above, and read more at Technologic Vehicles. Chile is generating so much solar power that it is giving it away for free. Thanks to its well-developed solar infrastructure – which includes 29 solar farms with 15 more in the works – feeding its central grid (as well as problems distributing it to other parts of the country), the surplus means energy prices have dropped to zero in certain locales for well over a hundred days of the year. Chile is now trying to improve its transmission networks, though lack of revenue could slow future investment in solar power. Read more at Green Car Reports. Fiat Chrysler Automobiles (FCA) is reportedly talking to Uber Technologies about a possible partnership regarding driverless cars. Anonymous sources close to the matter have said that a venture could be announced by the end of 2016. Uber is also in talks with other automakers, according to one source. Having access to Uber's massive fleet of vehicles around the world provides large opportunities for gathering data and improving systems. Sources say Fiat has also been in contact with Amazon about autonomous delivery vehicles. Read more at Automotive News Europe. Former Elio Motors COO Hari Iyer is launching the YoYo car subscription service as its CEO. YoYo will offer cars on-demand with a concierge service, using a pay-per-mile model. Iyer will maintain a relationship with Elio as a member of its Board of Directors, and as a strategic advisor to CEO Paul Elio. "I am proud of our team's accomplishments [at Elio] and the progress we've made to date and will look on with pride when I see an Elio on the road," says Iyer. He adds, "My work at YoYo is continuing our shared mission to usher in a new era of affordable access to cars." Read more in the press release below.

FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.

Dodge offering novel 1-year lease on '14 Challenger and Charger models

Dodge is just days away from unveiling refreshed versions of the Charger and Challenger at the 2014 New York Auto Show, models promising updated styling and new powertrain options. Depending on how you look at it, the company is either so confident in its forthcoming 2015 models that it's offering an interesting Double-Up lease deal on the current vehicles, or it's so eager to clear out existing stock that it's resorting to novel lease deals. In any case, what they present is an interesting scenario, one which allows buyers to get the existing model right now, and then trade up to the facelifted 2015 models in one year.
Starting April 17, when the refreshed cars debut through the end of August, buyers can lease a 2014 Charger or Challenger for one year and exchange it for a three-year lease on a 2015 model next year, with no additional money down and the same monthly payment. Customers can even switch vehicles when the new lease starts. If drivers want to buy the '15, they get $1,000 off the purchase price. To be eligible, both leases must use the same dealership and be financed through Chrysler Capital. The Double-Up deal excludes the SRT versions of both cars and Charger SE models.
To offset the flood of one-year-old models coming back to dealerships, Dodge has struck a deal with rental car agency Enterprise, which has agreed to buy them all. "One-year leases are highly unusual in the industry," said company spokesperson Ralph Kisiel, and the fleet sale deal is what makes it possible.