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Toyota's Lentz says fuel cells are the future, not EVs

Toyota is not bullish on EVs. That comes from the company's North American CEO, Jim Lentz, who said the company will focus not on electrification, but on continued hybridization with a long-term focus on hydrogen fuel cells.
Lentz questioned the long-range ability of EVs, saying that Toyota feels "there are better alternatives, such as hybrids and plug-in hybrids, and tomorrow with fuel cells." Lentz spoke about Toyota's focus on hydrogen following Forbes Brainstorm Green conference and barely a week after a battery deal between Tesla and Toyota ended, according to Automotive News.
That deal provided for 2,500 battery packs for the Rav4 EV. While valuable to Toyota, the deal "was never about open-ended volume," Lentz said. "It was time to either continue or stop. My personal feeling was that I would rather invest my dollars in fuel cell development than in another 2,500 EVs."

Morgan Stanley: Tesla is world's most important automaker

What makes a company important? Clothing companies are important because they help cover those of us not willing or able to sew up a storm. Housing companies shelter us. And who could live without whoever it is that makes pop rocks?* But those are basic needs kinds of things. When we start to discuss things like excitement and innovation, "important" is a more subjective idea. Nonetheless, if you're going to claim that anyone other than Tesla is the most important automaker in the world, you're going to have to argue with Morgan Stanley Research analyst Adam Jonas. Jonas called the California automaker the world's most important automaker in a new report to investors and he didn't mince words: "Not even two years after the delivery of the first Model S, Tesla Motors has transformed from fledgling start-up to arguably the most important car company in the world. We are not joking. ... Tesla is also emerging as an emblematic force in America's effort to foster high tech manufacturing job growth." His main reasons are as follows: Parts suppliers now thing positively about Tesla and are thinking of building dedicated production lines just to supply Tesla with parts for its electric vehicles. Other automakers are also paying close attention to Tesla. This is a sign that the company has finally become a serious competitor. Tesla could directly employ 20,000 people in seven years and create 100,000 related jobs at other companies. However many jobs are created, Tesla will have a positive effect on the US GDP. The Tesla Model S is the "most American made car on the road, pushing 90 percent US content," which to us might make Tesla the most important car company in America, but Jonas sees a larger impact, apparently. According to Market Watch, Jonas also sees a big potential in Tesla upcoming battery plant: "The success of the Gigafactory holds the key for the development of an entirely new industry. If Tesla can achieve battery cost per kWH below $150 and defend the IP, there is significant potential for revenue streams not captured in our $320 price target." Jonas knows there are risks and downsides, which you can read more about at the Los Angeles Times. *Just trying to think of the least essential product as a joke here.

Recharge Wrap-up: Smart Fortwo engine fires, Tesla finalist for Extole Advocacy and Customer Experience award

NHTSA has launched a preliminary investigation into complaints of Smart Fortwo engine fires. So far, the agency has received eight complaints about the rear engine compartment catching fire in model year 2008 and 2009 Fortwos and quickly engulfing the car. Six of the fires occurred while driving and were preceded by a check engine light. "The safety of our customers is our primary concern, and we are cooperating with NHTSA in its inquiry," says parent company Mercedes-Benz. "We are not aware of any injuries related to this inquiry." Read more from Automotive News. Volkswagen will pay $1.6 billion (US) in Canada as part of a settlement of its diesel emissions scandal. The funds will be used to fix or buy back some 105,000 affected cars, compensate owners between $3,815 and $4,451 above the buyback price, and pay a $11.2 million civil fine. So far, VW has agreed to spend over $18 billion in North America in connection with its diesel emissions cheating, and is expected to settle on a resolution of its 3.0-liter diesel vehicles in the US soon. Read more at Hybrid Cars, or from Automotive News. Tesla is one of three finalists for the Extole Advocacy and Customer Experience Award. The award recognizes companies that turn customers into brand advocates through referral programs. In Tesla's current program, customers who buy a car using a referral link get $1,000 off the price of their car, while referring owners are awarded prizes including a signed Powerwall 2 and invitations to unveiling events. Referring owners are also entered into a drawing to win a Model S or Model X. "With a disdain for paid advertising, Tesla Motors is leading the trend of reaching new customers through existing ones," says Extole. The other finalists are Hanna Andersson and Ulta Beauty. Read more at Teslarati. Related Gallery Review: 2009 Smart ForTwo View 20 Photos News Source: Automotive News, Hybrid Cars, Automotive News, TeslaratiImage Credit: Copyright 2016 Sebastian Blanco / AOL Government/Legal Green smart Tesla Volkswagen Green Automakers Safety Diesel Vehicles Electric recharge wrapup