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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

Recharge Wrap-up: No fast charger funding from GM, Tesla Model X buyer's guide

General Motors does not plan to fund any CCS fast-charging infrastructure to go along with the launch of the Chevrolet Bolt. Other automakers – Audi, BMW, Nissan, Volkswagen and, of course, Tesla - are investing in the deployment of fast chargers to aid the mobility of their EV customers. With the debut of the Chevy Bolt, which has an option for a CCS fast-charging port, Green Car Reports asked a panel of GM executives if it had similar plans. "We are not actively working on providing infrastructure [for the Bolt EV]," says GM CEO Mary Barra. Read more at Green Car Reports. Teslarati has put together a buyer's guide for the Tesla Model X. If you're considering taking the plunge and buying the new, luxury, electric SUV, there are a number of things to take into account that first-time Tesla or EV buyers may not have had to consider before – on top of the usual tough choices any car buyer faces. The guide breaks down the options into categories of pricing, battery, and performance, performance extras, seating, more options, tow/hitch options, and final options (yes, that's a lot of options). It also includes how to find the hidden 72-amp onboard charger upgrade, if that's something you want to consider. Check it out at Teslarati. Renault is an official partner of the 2015/2016 Formula E Paris ePrix. The race takes place around the Hotel des Invalides monument on April 23, and Renault will have a strong presence for the race weekend. The automaker will have its ZE range on display at the ePrix's e-village throughout the event. Renault e.dams won the 2014/2015 Teams' championship title, and is at the top of the standings for 2015/2016. Read more from Renault. EV sales are on the rise in Europe, a trend that's expected to continue according to analysts. Thanks in large part to regulatory measures, electrified vehicle sales (including mild hybrids) are predicted to grow 433 percent to 2.2 million units by 2021. EV sales grew 82.2 percent in the year leading up to September 2015. "It's no secret that the internal combustion engine is expected to be the predominant powertrain in the near term, but increased acceptance of [alternative fuel vehicle] technology, particularly pure electrification, should not be ignored," says PwC Global Automotive Leader Rick Hanna. Read more in the press release below.

Tesla, European automaker may share Supercharger network [w/video]

Tesla Model S owners have had the now-500-plus Supercharger locations all to themselves since the free, high-speed charging network first opened up three years ago. The day may be coming when they'll have to start sharing, however. According to CEO Elon Musk, the company is "in talks with some manufacturers" about opening up its infrastructure to other autos. The mission statement of Tesla Motors is to "accelerate the advent of sustainable transport," and it can be argued that the success of its Model S is doing this, at least to some extent, by inspiring other automakers to build long-range electric vehicles themselves. Witness the Porsche Mission E concept and Audi E-Tron Quattro Concept as two recently unveiled examples. Sharing the Supercharger system is another way to speed things up. When EV owners of other marques want to take a trip, they may find themselves facing a hodge-podge of charging networks, each with slightly different standards, availability, and fees. Supercharging for free at well-mapped and easily accessible locations can only make things easier, and Musk has long said he would like other companies to make use of the network. With some manufacturers declaring allegiance to the CHAdeMO and others, the SAE Combo system, it seemed like Tesla might not get any takers, but finally it may be getting traction. Musk mentioned the development on at least two different occasions recently at speaking engagements in Berlin: once in a morning discussion, and later during a larger meeting with the German Minister of Economy & Energy, Sigmar Gabriel. While in the first instance, Musk used the plural "manufacturers," indicating there may be discussions with more than one firm, the second mention might be more relevant to the near term. In that case, while answering a question about sharing the Superchargers, he stated that "the CEO of one European car company, not a German car company, has approached us recently about doing exactly that, and we're super supportive of anyone who wants to do that." The question now becomes, "who will be the first to use the Tesla high-speed network?" With the specific mention of a European company, and the exclusion of German ones, our best guess is Aston Martin. Its CEO Andy Palmer is quite bullish on electric vehicles and the iconic British brand already has a test mule for an 800-hp electric Rapide on the road, not to mention its fabulous DBX under development.