2009 Toyota Land Cruiser on 2040-cars

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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.

Recharge Wrap-up: LA Auto Show may feature updated Cadillac ELR, Uber expands Chicago HQ

A Kentucky man has converted his 1939 Dodge pickup to an electric vehicle. Al Gajda of Lexington built the electric truck, which he now uses as his daily driver. "I take advantage of any excuse to drive it; just banging around town, errands, short runs on the interstate, delivering my granddaughter to school in the morning," he says. It is powered by a lithium-ion phosphate battery, which is mounted in a wooden box on the truck bed, and gets about 100 miles per charge. Read more at the Lexington Herald-Leader. Elon Musk will speak at the Automotive News World Congress in January. The Tesla CEO is a featured speaker for the program, "Setting the Pace in a Thriving Market." The event takes place in Detroit, which could lead to an interesting mix of people in the audience, and Musk will speak on January 13. Read more at Automotive News. Production of the Toyota Rav4 EV has ended. The shipment of the final Toyota EVs concludes Toyota's deal to source batteries from Tesla. Of the 2,600 Rav4 EVs to be produced, there are probably just a few hundred left to be sold, most of which are likely to be gone by the end of October. Read more at Inside EVs. Cadillac will likely show an improved version of the ELR at the Los Angeles Auto Show in November. The 2016 ELR will include unspecified "engineering enhancements," according to Cadillac spokesman David Caldwell. There will be no 2015 model, as the 2014 model will be sold until the 2016 ELR goes on sale in the first half 2015. Read more at Edmunds. Uber executives, along with Illinois Governor Pat Quinn, have announced a major expansion of the ride-hailing company's Chicago headquarters. Uber also plans to add 420 jobs by the end of 2016. "Uber's new expanded headquarters will allow the company to continue its rapid growth and serve its riders and drivers throughout Illinois," says Governor Quinn. Last month, Quinn vetoed legislation that would have put restrictions on companies like Uber in the state. Read more in the press release below. Governor Quinn and Uber Announce Major Chicago Headquarters Expansion Innovative Ridesharing Company to Add 420 Jobs by End of 2016 CHICAGO, Sept. 29, 2014 /PRNewswire-USNewswire/ -- Governor Pat Quinn and Uber executives today announced that the ridesharing giant is moving forward with creating 420 new jobs by the end of 2016 in a major expansion of its Chicago regional headquarters.

Toyota, PSA extend partnership with new European van

Toyota and PSA Peugeot Citroen collaborate on a number of vehicles. One of them is a small van jointly developed by the two automakers but marketed individually under their own brands across Europe. Now they've announced the extension of that collaboration, and revealed the first image and details of their new product. Set to be unveiled at their respective booths at the Geneva Motor Show this coming March are the new Toyota ProAce, Peugeot Traveller, and Citroen Spacetourer. They replace the Toyota model of the same name as well as the outgoing Peugeot Expert and Citroen Dispatch, and will each be made available in private and commercial shuttle forms. Although technical specifications have yet to be announced, each will share the same underpinnings and mechanical components, leaving only the parts you can see changing from one brand's version to the next. Expect engines to range from 1.5 to 2.0 liters and burning gasoline or diesel, but the latter will undoubtedly prove the more popular option in Europe. No mention was made of a replacement for the Fiat Scudo, another badge-engineered version of the same van program in its current form. That would seem to suggest that Fiat Professional is either preparing to go it alone with the next-generation Scudo, or phase out the model altogether. The current Scudo slots in between the smaller Doblo (imported to the US as the Ram ProMaster City) and the larger Ducato which was also jointly developed with PSA and sold as the Citroen Jumper/Relay, Peugeot Boxer, and here in America as the Ram ProMaster. The ProAce and its cousins are made by PSA at its Sevel plant in Valenciennes, France. Aside from their vans, the Japanese and French automakers also collaborate on the city car platform sold alternately as the Toyota Aygo, Peugeot 108, and Citroen C1. Fiat also partners with PSA on the smaller Fiat Fiorino/Qubo, Peugeot Bipper and Citroen Nemo. All of which just goes to show what a tangled web they weave in the European market, especially where commercial vehicles are concerned. NEW STAGE IN THE CO-OPERATION PROGRAM BETWEEN PSA PEUGEOT CITROEN AND TOYOTA PSA Peugeot Citroen and Toyota Motor Europe (TME) reveal today the new Citroen SPACETOURER, Peugeot TRAVELLER, and Toyota PROACE. They will be available in MPV versions for private use and in shuttle versions for business use. Both companies therefore confirm the continuation of their co-operation agreement signed in 2012.