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Recharge Wrap-up: Lucky fan to drive Porsche 918 Spyder, Avis Denmark has 861 Nissan EVs

A Tesla Model S customer shares his story of ownership over the course of 120,000 miles. Dante Richardson describes new software updates as being akin to anticipating the prize in a box of Cracker Jacks. Over the many miles he's driven the car, he has only learned to enjoy it more. "I don't know if it's the software updates or some of the other changes that have occurred with the car, but I find myself increasingly enamored and happy with the car as time has passed," Richardson says. His Volvo C70, in the meantime, usually sits idle as he opts to drive the Tesla. Read more at Tesla's website. A Facebook fan from Austria has won the opportunity to drive the Porsche 918 Spyder more than 622 miles. As part of a celebration for Porsche accumulating 10 million likes on the social media platform, Ingo Georges Vandenberghe will drive from London to the Porsche Experience Centre at Silverstone, via Wales and the Cotswolds, stopping occasionally to have other fans meet up to see and sign the car. It's a rare opportunity for the lucky driver, as every example of the high-performance Porsche hybrid has been sold. Read more at Hybrid Cars, and learn more about the celebration at Porsche's microsite. Avis Denmark now has the largest fleet of Nissan electric vehicles in Europe. The company has ordered 401 new Nissan e-NV200 vans and 60 Nissan Leafs for its leasing scheme. This is in addition to the 400 Leafs the Avis added to its fleet last year. "We had great success already with the Nissan Leaf in Denmark and we leased all of the units we purchased from Nissan very quickly, which has led to us ordering more," says Kasper Gjedsted, managing director of Avis Denmark. "To follow up that success we have decided to add the e-NV200 vehicle to broaden our offering and appeal to new types of customers." Read more in the press release below. AVIS ORDER CREATES EUROPE'S LARGEST FLEET OF NISSAN ELECTRIC VEHICLES - AVIS Denmark orders 401 Nissan e-NV200 vans and 60 Nissan LEAF electric cars - Combined with last year's order of 400 LEAFs, Avis now has largest EV fleet in Europe Copenhagen, 29th April 2015 - Nissan and AVIS Denmark have signed a deal to create the largest fleet of Nissan electric vehicles anywhere in Europe, with a new order of 401 Nissan e-NV200 vans and a further 60 units of the 100 percent electric Nissan LEAF.

Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.

Bugatti and Rimac joint venture profitable 'beyond expectations'

WARWICK, England — The joint venture between Croatian electric carmaker Rimac and Bugatti has been far more profitable than anticipated as the two brands work on developing vehicles together under one roof, Rimac's top executive said on Wednesday. "It's highly profitable and cash flow positive beyond anybody's expectations," Rimac CEO Mate Rimac told Reuters in an interview at the UK offices of the carmaker's Rimac Technology unit in Warwick. "It's such a win-win situation for everybody." Rimac added the joint venture has brought "lots of synergies going both ways." The Rimac Group comprises the Bugatti-Rimac JV, producing the electric sportscar Nevera and the Bugatti Chiron — which is owned 45% by Porsche AG — and a technology unit which supplies battery systems and powertrain components to other carmakers. Earlier this year the group raised 500 million euros ($519 million) in a new funding round. Rimac's CEO said the company has developed a "really close strategic relationship" with Porsche, which was listed by its parent Volkswagen in October. Porsche holds a 20% stake in the Rimac group. "We are really collaborating on many levels, developing and producing lots of key elements of their (Porsche's) future hybridization and electrification," he said. Rimac's CEO said the group must become more like Ferrari with a predictable, stable and profitable business before it can contemplate an initial public offering. "They (Ferrari) make projections and they always achieve," he said. "What I want to have is some kind of stability and certainty before we do an IPO because we don't want to make promises we can't keep." An IPO could happen anytime from three years to a decade from now, and could involve going public as a group or spinning off a unit, he said, but is definitely coming because "we obviously have financial investors that at some point want to exit." Related video: Earnings/Financials Green Bugatti Porsche Electric Luxury Performance Supercars Rimac