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Recharge Wrap-up: Venturi seeks funding for speed record, Kia partners on V2G

Venturi Automobiles has started a crowdfunding campaign to help break an EV speed record. Venturi's goal, with the help of The Ohio State University, is to set a new FIA World Speed Record for Battery Powered Electric Vehicles of over 7000 pounds with its VBB-3. Venturi set the current record at 307 miles per hour, but wants to exceed that this September at the Bonneville Salt Flats. Funders can score merchandise like T-shirts, miniature models, and even their name on the side of the car. Learn more at Venturi Automobiles' Kickstarter page. Kia is providing six Soul EVs to UC Irvine's Advanced Power and Energy Program (APEP). APEP is using the electric vehicles for the development of vehicle-to-grid technology and smart charging systems. Kia says the collaboration is helpful in its goals of expanding EVs over the next five years. "Grid-connected electric vehicles offer tremendous potential in terms of energy storage and dispersion during high-demand periods," says Kia VP of Product Planning Orth Hedrick, "and Kia is excited to collaborate with APEP in the study and development of advanced smart grid technologies." Read more from Kia, or at Green Car Congress. Daimler is launching its Mercedes-Benz Energy brand for stationary energy storage. Taking on the likes of Tesla with its Powerwall, Daimler began shipping battery packs for residential energy storage in Germany in April, with an eye toward solar systems. Now, with its new brand, the company looks to expand to the global market. "By founding Mercedes-Benz Energy GmbH, we are underscoring our ambition to be a technological and market leader in the field of highly efficient storage systems," says Daimler's Harald Kroger. "With our unique combination of high standards of quality and safety and positive economies of scale, we are supporting the success of the new energy era while helping to make electromobility affordable." Read more in the press release below. Daimler Establishes Mercedes-Benz Energy GmbH for Stationary Energy Storage Daimler AG is continuing to expand its network of expertise in the field of lithium-ion battery applications. Within this innovative line of business, the newly established Mercedes-Benz Energy GmbH is assuming the development and global sale of Mercedes-Benz brand stationary energy storage with immediate effect. Thus, Daimler is focusing even more on the growing market for stationary batteries.

Genesis, Kia, Lexus EVs earn spots on the IIHS Top Safety Picks+ list

A trio of 2023 electric vehicles — the Hyundai Ioniq 6, Lexus RZ, and Genesis Electrified GV70 — have just earned the Top Safety Pick+ rating by the Insurance Institute for Highway Safety. The prestigious award from the IIHS requires that the cars and SUVs achieve top scores in a number of crash tests and that they have an “Advanced” or “Superior” front crash avoidance system that activates to help inattentive drivers prevent vehicle or pedestrian crashes. Previous selections for the award among EVs have included the Rivian R1T/R1S, Kia EV6, Hyundai IONIQ 5, and Tesla Models 3/Y. To earn the “+” designation, the agency stipulates that headlights rated “Acceptable or Good” must be standard across all trims, and that a front crash prevention system that earns Advanced or Superior ratings in both the daytime and nighttime vehicle-to-pedestrian evaluations be available. The GV70 earned “Advanced” ratings in both the daytime and nighttime vehicle-to-pedestrian front crash prevention evaluations. The Ioniq 6 and the Lexus RZ earned “Superior” ratings in these two tests. “To be environmentally friendly, our vehicles and our cities also need to be pedestrian-friendly,” said IIHS President David Harkey. “All three of these vehicles have standard front crash prevention systems designed to protect pedestrians both during the day and at night, when most fatal pedestrian crashes happen.” Overall in its latest list, the IIHS named 51 cars in the “Top Safety Pick+” grouping, and 25 in the secondary Top Safety Pick tier. ThatÂ’s down from 101 total award-winning models last year, likely because the organization has implemented its tough new side-impact test and is also testing for night-time pedestrian detection for collision warning and prevention systems. The IIHS is one of two major automotive safety rating organizations, along with the federal government's National Highway Transportation Safety Administration. IIHS is a private organization funded by insurance companies. By the Numbers Genesis Kia Lexus Green Automakers Insurance Safety Electric

Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.