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Recharge Wrap-up: Mercedes-Benz B-Class Electric Drive goes on sale in Europe, Spain gets Nissan Leaf taxis

The new Mercedes-Benz B-Class Electric Drive goes on sale in Europe on November 3, with deliveries starting before the end of the year. Developed with the help of Tesla, the new electric B-Class offers more than 132 kilowatts (177 horsepower) and 250 pound-feet of torque. It features Economy Plus, Economy and Sport driving modes. An optional radar support system uses the collision prevention assist sensors to help make smarter decisions about when and how to use the regenerative braking. The B-Class Electric Drive also offers an optional Range Plus button, which can unlock more battery capacity when charging for the occasional longer drive. Learn more in the press release below. Racing returns to the streets of Miami for the first time in more than a decade for the Formula E Miami ePrix on March 14, 2015. Formula E has revealed the track layout, which takes the race around the Miami Heat's home court, American Airlines Arena, along the Biscayne Bay. "This event will help to make Miami more of a sports city," says Mayor Thomas Regalado. "In addition, we will show the younger generations that you may have motor racing without noise or pollution." Read more about the event at the Formula E website and see the track layout in detail here. Hyundai has delivered the first ix35 Fuel Cell vehicles to customers in the UK, including clean energy company ITM Power. ITM is responsible for three of the hydrogen refueling stations being built around the EU as part of the Hydrogen For Innovative Vehicles project - the same project that helped bring the Hyundai ix35 (also known as the Tucson) Fuel Cell to Europe. ITM's 700-bar hydrogen stations will be built in London by Spring 2015, each with its own electrolyzer system on site. In the meantime, ITM will use the ix35 for commutes between London and Sheffield, refueling at a site that uses wind-generated electricity from an on-site turbine to power the electrolyzer to make the hydrogen. Learn more in the press release below. Demand for aluminum is expected to climb as China builds more electric cars. Aluminum supplier Novelis says demand will likely increase 30 percent annually for the next 10 years in China, Japan and Korea, and possibly more depending on how China's plan to increase EV use and decrease air pollution shakes out. Read more at Bloomberg. Barcelona and Madrid have received their first all-electric taxis in the form of Nissan Leaf EVs.

Carlos Ghosn, the cost cutter who cost a lot in compensation

PARIS — In his 40 years in the auto industry, the praise Carlos Ghosn has won for turning around businesses has regularly been matched by criticism over the amount he has been paid to do it. In the latest furore over his finances, Japan's Nissan Motor Co said on Monday it planned to oust Ghosn as chairman after alleging he had made personal use of company assets, among other acts of suspected misconduct. The scandal comes just five months after the 64-year-old head of the Renault-Nissan alliance narrowly won a shareholder vote at Renault over his 7.4 million euro ($8.5 million) pay package for 2017, after losing a 2016 vote. Brazilian-born, of Lebanese descent and a French citizen, Ghosn began his career in 1978 at tire maker Michelin, before moving to Renault in 1996, where he oversaw a turnaround at the French automaker that won him the nickname "Le Cost Killer." After Renault sealed an alliance with Nissan in 1999, Ghosn used similar methods to revive the ailing Japanese brand, leading to "business superstar" status in Japan, blanket media coverage and even a manga comic book on his life. As auto markets in western Europe and Japan struggled, Ghosn championed a cheap car for the masses in emerging markets and embraced the electric vehicle before many others. He also never made it a secret that he believed there were too many carmakers in the world and consolidation would continue — in 2016 he added Japan's Mitsubishi Motors to the alliance. But in recent months, attention has increasingly turned to how the complex web of cross-shareholdings between the alliance partners might be simplified to ensure it can thrive following the eventual departure of its main architect. In March, sources close to the matter told Reuters the alliance partners were discussing plans for a closer tie-up in which Nissan would acquire the bulk of the French state's 15 percent stake in Renault. With Japan's Yomiuri newspaper reporting on Monday that Ghosn had been arrested by Tokyo prosecutors on suspicion of under-reporting his salary, the alliance's plans for the future just got more pressing.Writing by Mark PotterRelated Video: Earnings/Financials Plants/Manufacturing Nissan Renault

Mixed sales results, but automaker stocks rise on need for cars in Houston

DETROIT — The Big Three Detroit automakers on Friday reported better-than-expected August sales and issued optimistic outlooks for demand as residents of the Houston area replace flood-damaged cars and trucks after Hurricane Harvey, sending their stocks higher. General Motors, Ford and Fiat Chrysler posted mixed August U.S. sales, with GM up 7.5 percent and Ford and Fiat Chrysler down. Japanese automaker Toyota improved sales by nearly 7 percent, while Honda fell 2.4 percent. Still, analysts focused on the potential for Detroit automakers to cut inventories and stabilize used vehicle prices as residents of Houston, the fourth largest city in the United States, are forced to replace tens of thousands, perhaps hundreds of thousands, of vehicles after the devastation from Hurricane Harvey. Mark LaNeve, Ford's U.S. sales chief, told analysts on Friday that following Hurricane Katrina in 2005 "we saw a very dramatic snapback" in demand. That said, Ford sales fell 2.1 percent in August. It sold 209,897 vehicles in the United States, compared with 214,482 a year earlier. Sales were down 1.9 percent in the Ford division and off 5.8 percent at Lincoln. Demand was down for cars, crossovers and SUVs. It was not clear how many vehicles in the Houston area will be scrapped, LaNeve said, saying he had seen estimates ranging from 200,000 to 400,000 to 1 million. Ford's Houston dealers may have lost fewer than 5,000 vehicles in inventory, he said. Ford is the No. 1 automaker in the Houston market, with 18 percent share, according to IHS Markit. The company plans to ship used vehicles to Houston dealers and has "every indication we would have to add some production" of new vehicles to meet demand, LaNeve said. Investor concerns about inventories of unsold vehicles and falling used car prices have weighed on Detroit automakers' shares most of this year. Now, automakers can anticipate a jolt of demand from a big market that is a stronghold for Detroit brand trucks and SUVs. "It's got to be a positive for the industry," LaNeve said. Investors appeared to agree. GM shares rose as much as 3.3 percent to their highest since early March. Ford increased 2.8 percent at $11.34, and Fiat Chrysler's U.S.-traded shares were up 5.2 percent $15.91, hitting their highest in more than five years. GM reported a 7.5 percent increase in U.S. auto sales in August, helped by robust sales of crossovers across its four brands.