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The billionaire's passion behind Wanxiang's Fisker bid

If it weren't for billionaire Lu Guanqiu, founder of Chinese auto parts giant Wanxiang Group, the Fisker Automotive bankruptcy bailout deal might have closed earlier this month. Hong Kong tycoon Richard Li, along with Li's affiliate company Hybrid Tech Holdings, assumed their offer was going to be accepted. Instead, the US bankruptcy court judge called for an open auction bid for Fisker's assets on February 12. Lu made a few convincing points to the judge. There's another interesting part of the story that Lu didn't share it with the judge. If the Fisker deal doesn't work out, Lu and Wanxiang might increase their working relationship with Tesla Motors. Lu told US bankruptcy judge Kevin Gross that Wanxiang, which now owns Fisker's supplier of lithium batteries, A123 Systems, is better placed than Hybrid Tech Holdings to restart and expand production at Fisker. Better yet, Wanxiang could move production from Finland to the US. That was convincing enough for Gross to schedule the auction. Lu's move toward taking over ownership and restoring Fisker seems to be driven by two motivations: converting his company from a parts maker to an automaker; and to grow the yet-to-be profitable "new energy " business such as lithium battery and electric vehicle makers. For Lu, it's not so much about believing in Fisker – it's more about playing a leading role in electric vehicles – and that could come through deepening its connection to Tesla Motors. "Of course we want to pocket Fisker. But we will bid rationally," he said to Reuters. "Whatever the result, nothing can stop us from making electric cars." Check out more about Lu in this Reuters piece, including how he and six other farmers pooled together $500 in 1969 to start what would become Wanxiang. Featured Gallery Fisker Karma at Laguna Seca News Source: Reuters Government/Legal Green Fisker Tesla Electric wanxiang

Our love of SUVs is killing people in the streets

Americans are fond of supersized fast-food meals and colossal convenience-store fountain drinks, even though they're clearly bad for our health and U.S. adults keep getting fatter. We also like large vehicles, and our love affair with SUVs is killing people in the streets. According to a recent investigation by the Detroit Free Press/USA Today, the increase in SUV sales over the past several years coincides with a sharp rise in pedestrian deaths in the U.S. — up 46 percent since 2009, with nearly 6,000 people killed in 2016 alone. With SUV sales surpassing sedans in 2014 and pickups and SUVs currently accounting for 60 percent of new vehicle sales, it's no wonder Ford announced in April plans to cease U.S. sales of almost all passenger cars. And this followed Fiat Chrysler's move to virtually an all-truck, -SUV and -crossover lineup. While the Freep/USA Today investigation found that the simultaneous surge in SUV sales and pedestrian deaths comes down to vehicle size, it also points to a lack of action on the part of the National Highway Traffic Safety Administration (NHTSA), even though it knew of the dangers SUVs pose to pedestrians. Also blamed are automakers dragging their feet on implementing active safety features. Using federal accident data, the Insurance Institute for Highway Safety (IIHS) determined that there was an 81 percent increase in single-vehicle pedestrian fatalities involving SUVs between 2009 and 2016. Freep/USA Today's analysis of the same data by counting vehicles that struck and killed pedestrians instead of the number of people killed showed a 69 percent increase in SUV involvement. As far back as 2001, researchers at Rowan University forecasted a rise in pedestrian deaths as Americans began switching to SUVs. "In the United States, passenger vehicles are shifting from a fleet populated primarily by cars to a fleet dominated by light trucks and vans," the researchers wrote, with light trucks comprising SUVs.

Recharge Wrap-up: Dedicated stop-start battery, anti-Tesla states win Luddite Award

Arizona, Michigan, New Jersey and Texas have been awarded a Luddite Award for blocking Tesla sales. The collective honor is bestowed by the Information Technology & Innovation Foundation (ITIF) for standing "resolutely in opposition to innovation." It's a particularly hard blow for the proudly auto-centric state of Michigan, whose Governor Rick Snyder signed an anti-Tesla bill into law in October. ITIF is now accepting votes for the "worst of the worst," with the "winner" to be announced February 5. Among the awardees in the running are Virginia and Nevada for their stances on ridesharing services. Read more in the press release below, in the ITIF's report or at the Detroit Free Press. Tesla has put the finishing touches on its underground Supercharger station in London. The subterranean chargers reside below the Westfield London shopping mall, which is also home to a Tesla Store. The Westfield London station is Tesla's largest underground station in Europe. Have a look in the attached photo gallery, or visit Tesla's Facebook page for more. Johnson Controls has developed a dedicated battery for stop-start system. The small lithium-ion battery allows for more frequent and longer engine stops, improving fuel economy by as much as eight percent. It weighs just nine pounds, and with no need for thermal management, it offers more packaging freedom within the vehicle. The battery offers a lifespan of four to six years, with a price in the hundreds of dollars. Johnson Controls will debut the start-stop battery at the North American International Auto Show in Detroit, with deployment beginning in Europe in 2018. Read more at Automotive News. ITIF Announces 2014 Luddite Awards WASHINGTON – (January 5, 2015) Technological innovation is the wellspring of social and economic progress. Despite this, a growing array of interests-some economic, some ideological-now stand resolutely in opposition to innovation. These "neo-Luddites" have worked to convince the public and policymakers that technological innovation is something to be feared and contained. Their targets include genetically modified organisms, new Internet apps, smart electric meters, health IT, big data, and increasingly productivity itself. And if these advocates are successful Americans will suffer in the form of lower quality of life and reduced societal growth.