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Recharge Wrap-up: Toyota HQ goes solar, CARB fights methane

Opel denies allegations about illegal emissions software as the German transport ministry begins its review. Opel has turned documents over to German authorities, and promises to hold a "constructive dialogue" while answering any lingering questions, says the automaker. Opel says that "the allegations reflect a wrong understanding of how diesel engines work." As German magazine Der Spiegel renewed questions about a cheat device similar to those used by Volkswagen, Opel reiterates, "We do not have any software that recognizes whether a vehicle is undergoing an exhaust emissions test." Read more at Automotive News Europe. South Korean President Park Geun-hye suggests that Seoul and Paris work together on the promotion of fuel cell technology. French industrial gases company Air Liquide manufactures liquid hydrogen, while Korean automaker Hyundai has already deployed its Tucson Fuel Cell crossover in select markets around the world. The two companies have signed a deal to cooperate on hydrogen technology. President Park visited an Air Liquide research center during a trip to Europe, where she said that a partnership between Hyundai and Air Liquide can help their countries stay ahead in the fuel cell vehicle market. Read more from Green Car Congress. CARB is proposing new rules for oil and gas facilities that would reduce methane emissions by more than 50 percent. The system, treatment, operation, and device standards would apply to onshore and offshore oil and gas production, storage, processing, and transmission facilities, covering procedures for leak detection and repair, equipment replacement, record keeping, and data reporting. "Methane emissions from the oil and gas industry contribute to California's [greenhouse gas] emissions and cost-effective reduction opportunities already exist and are available for use in the sector," CARB says. "In addition, reducing methane emissions from this sector will help slow the rate of climate change in the near-term and have an immediate beneficial impact on climate change." A hearing is scheduled for July 21 to discuss the proposal. Read more from SNL. Toyota's new Plano, Texas campus will get 25 percent of its energy from the sun. As Toyota plans to move into its new North American headquarters next year, it is building a 7.75-megawatt solar system to provide renewable energy for its operations. The solar arrays will be built atop three parking structures by the end of 2017.

Toyota nears $40B cash reserve as calls grow for new investment, payouts

With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or use it as a down payment on a new car or a trip to the Apple store. Unsurprisingly, major corporations face a similar, albeit more complex, issue.
Take Toyota, for example. With President Akio Toyoda at the helm, the Japanese manufacturer has gracefully weathered recalls and natural disasters, all while turning beaucoup profits. Last quarter, profits quintupled to 434.4-billion yen ($4.3-billion USD), according to Bloomberg. Toyota also upped its forecast for the end of fiscal year 2013 (which ends on March 31 for Japan), to a record 1.9-trillion yen (about $18.8 billion). Now, the Japanese brand is reportedly sitting on a cash pile of nearly $40 billion, leaving Toyoda-san in an envious predicament - what should the company do with all that money?
Some think Toyota should be doing something, anything with that big stack of cash.

Toyota moving US headquarters to Plano, Texas

It's official, Toyota is relocating its US operations to Plano, TX. And it won't be a symbolic 'all ranch and no cattle' gesture - the Japanese automaker, whose headquarters have been in California since 1957, has decided to base nearly all of its operations in the Lone Star State, including much of its engineering, finance and sales and marketing teams.
The move, which will see the establishment of a new headquarters campus in the Dallas suburb will not only affect employees at the company's current Torrance, CA Toyota Motor Sales USA campus, it will also touch the lives of thousands of employees at the company's other operations, including 1,000 workers at Toyota Motor Engineering & Manufacturing North America in Erlanger, KY and some New York-based staff as well. The Toyota Technical Center in Ann Arbor, MI is not facing relocation, however, and it actually stands to gain responsibilities as Toyota overhauls its US org chart. Toyota says that its reorganization will affect about 4,000 employees in total.
According to Automotive News, while Toyota is adopting an "'everyone is invited' stance for the relocation," some attrition is expected from employees who aren't interested in relocating southward from the Golden State. For its part, the automaker is reportedly making expenses-paid visits to Plano available to full-time staffers and spouses to help them make the relocation decision, as well as a lump-sump payment if they decide to go through with the move.