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If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.

Recharge Wrap-up: Smart Ready for Rent, MOIA comes to US in 2018

Daimler is launching its "Smart Ready to Rent" service in Europe. Beginning this month in German and French cities, the rental scheme bridges the gap between short-term Car2go rentals and longer leases. Customers book the Smart model of their choice – including the emissions-free Electric Drive and the hotter Brabus versions – for a period of one day up to three months. As such, Smart Ready to Rent is useful to those who live outside of an urban center. Users can book a car online or through a dealer, and vehicles are collected and returned at the dealership. Read more at Green Car Congress. Volkswagen will launch its MOIA mobility arm in the US in 2018. The recently announced brand will take on public transportation as a competitor with services such as ride hailing and car sharing. VW is looking into forging partnerships with the likes of technology and ride sharing companies. The automaker also expects to show an electric shuttle-type concept in 2017 for pooling services, but will use the three-row VW Atlas crossover in the meantime until that concept reaches production. Look to see MOIA emerging in major cities along the US coasts. Read more at Automotive News. A new report from Lux Research suggests that most EV batteries are better off being recycled than reused. Once lithium-ion batteries have outlived their usefulness for automotive duty, some automakers (BMW, Nissan, and Toyota included) are looking at ways to use their remaining capacity, such as for stationary energy storage. The new report, though, says that reusing batteries offers "questionable returns on account of reduced performance." Better to be like Tesla, and just recycle them. Read more at Hybrid Cars. Related Gallery Smart ForTwo ED: Paris 2016 View 12 Photos Related Gallery 2018 Volkswagen Atlas Unveiling View 43 Photos News Source: Green Car Congress, Automotive News, Hybrid CarsImage Credit: Copyright 2016 Drew Phillips / AOL Green smart Volkswagen Green Automakers Transportation Alternatives Electric recharge wrapup

Volkswagen Passat gets Wolfsburg Edition, priced from $23,495*

Volkswagen has just announced a new Passat Wolfsburg Edition, which slots between the base S and mid-grade SE trims in terms of content and price. The automaker has not released any official photos of the car as of this writing (aside from the badge shot you see here, of course), but the Wolfsburg Passat will be visually set apart from the rest by a unique set of 16-inch alloy wheels.
The big host of upgrades for the Wolfsburg Edition are found inside, where buyers will enjoy standard amenities like leatherette seats (with bun-warmers on the front chairs), a power driver's seat, satellite radio and a media interface with iPod connectivity. Of course, this comes on top of the already standard Passat features like Bluetooth and auto on/off headlamps. The Wolfsburg Passat will only be available with the 2.5-liter five-cylinder engine and a six-speed automatic transmission.
Look for the 2013 Wolfsburg Edition Passat to hit dealerships in the very near future, priced from $23,495, *not including $795 for destination. Have a look below for Volkswagen's official press blast.