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Google shares more details on self-driving car accidents

Google has pledged to release monthly reports on the status of its self-driving car program, and says these updates will include information on accidents involving the vehicles. But the company won't release the actual accident reports, a sore point for activists who recently have clamored for the company to be more transparent in the way it tests this promising technology on public roads. "Google is dribbling out bits of information in the hope to silence legitimate calls for full transparency," said John Simpson, privacy director for Consumer Watchdog, a nonprofit that has asked Google to release reports from the 12 accidents the company says it has been involved in over the past six years. "They are testing on public roads, and the public has a right to know exactly what happened when something goes wrong." Under California law, the accident reports are not considered public records. Google has attributed all accidents to human error, and says drivers of the other cars involved caused 11 of the 12 accidents. In eight of those, the Google cars were rear-ended, and the autonomous vehicles were sideswiped in two other crashes. One of the accidents occurred at an intersection when a human driver failed to yield at a stop sign, and in one incident, a Google driver accidentally rear-ended another car while manually driving. Google had previously provided those details. The first monthly report installment sheds new light on which types of self-driving vehicles were involved, directions of travel, locations, and whether the cars were operating in autonomous or manual mode. Update: Google says this information comes directly from the OL 316 forms used to report accidents involving autonomous cars in California, though it has "edited the summaries lightly to protect other drivers' information." But Google still will not release the original OL 316 forms, nor the "traffic collision report" forms used in California to report accidents. Another company that has been involved in a single self-driving car accident, Delphi Automotive, has released this information, which verified its car was not at fault. Regarding Google, Simpson said, "We now know a few more details of what happened. The problem is that it's Google's version and they want us to take their word for it." The Google self-report adds information that goes beyond accidents, with further details on the company's overall program.

TMG still developing Lexus LS Sports 650 [w/video]

If you're going to make a super sedan, you'd better do it in Germany. That's where Audi, BMW and Mercedes-Benz do it, along with third parties like Alpina, Brabus and G-Power, among others. Deutschland is the epicenter of the movement, regularly churning out the most powerful four-door rockets in the world. It's also where one of the racing divisions for Toyota has been hard at work on the TMG Sports 650.
Toyota Motorsport GmbH started with a Lexus LS and turned it into a 641-horsepower, twin-turbocharged super sedan it revealed late last year at the Essen Motor Show. But though we haven't heard much about it since then, the team behind Toyota's F1 and Le Mans efforts are apparently still hard at work on the project.
Speaking with Lexus' own UK blog, TMG chief Alastair Moffitt revealed that the project started way back in 2010, shortly after Toyota shut down its F1 program and left the racing team with nothing to do. The 5.0-liter twin-turbo V8 was initially producing as much as 800 horsepower, but has since been refined to 650 so that it could theoretically be put into production and onto the road.

Toyota's 'green bond' an industry first, quickly rises to $1.75 billion

Toyota is greasing the skids for more green car purchases with the announcement of a $1.75-billion bond designed to finance the purchase of high-efficiency Toyota and Lexus models. The Asset-Backed Green Bond is a first for the automotive industry and is making a lot of money available to buy or lease the following vehicles: any of the four Prius variants, Camry Hybrid, Avalon Hybrid, RAV4 EV, Lexus CT 200h and Lexus ES 300h. Originally, the bond was set at $1.25 billion, but Justin Leach, manager of public relations for Toyota Financial Services (TFS), told AutoblogGreen that demand was high and it was quickly oversubscribed. TFS has been looking at more ways to diversify its portfolio after a Diversity & Inclusion Bond that was announced in early 2013 and, with the new Green Bond, TFS is offering something for the "number of investors out there who are looking for investment opportunities in green." The way the money from the bond is used, basically, is that TFS takes the $1.75 billion and uses it to finance the purchase or lease of the nine vehicles listed above. As of right now, all the eligible vehicles are plug-in or hybrids, but the rules simply say that the cars in the program have to meet certain "powertrain, fuel efficiency and emissions" criteria. That means: Minimum EPA estimated MPG (or MPG equivalent for alternative fuel vehicles) of 35 city / 35 highway California Low-Emission Vehicle II (LEV II) certification of super ultra-low emission vehicles (SULEVs) or higher, which would include partial zero emissions vehicles (PZEVs) and zero emissions vehicles (ZEVs). TFS raises plenty of billions in other ways for the rest of the lineup, and got into asset backed securities in 2010, Leach said. Given the success of this first Green Bond, Leach said he expects TFS to keep this idea in its arsenal. "This one was so well received, I would be surprised if we didn't see it again," he said. "If anyone was going to do it, it should be Toyota, right?" Toyota Financial Services (TFS) Issues Auto Industry's First-Ever Asset-Backed Green Bond Bond Proceeds to Fund Consumer Loans and Leases for Toyota's Leading Portfolio of Green Vehicles TORRANCE, Calif., (March 24, 2014) – Toyota Financial Services (TFS) issued the auto industry's first-ever Asset-Backed Green Bond in the amount of $1.75 billion.