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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: Volkswagen Sustainability Council meets, Zee.Aero flying car spotted?

The Volkswagen Sustainability Council held its inaugural meeting in Berlin. Made up of nine international experts, the council will advise VW and take action on its own as it sees fit. In the meeting, the council decided that in 2017 it will focus on tackling CO2 emissions, planning for post-2025 regulations, and assisting the automaker's "transformation from car manufacturer to mobility services provider," as VW Chairman Matthias Muller puts it. Volkswagen has approved 20 million euros (about $21.75 million) in funding for Sustainability Council projects for its first two years. "We are fully aware of the large transformation that lays ahead Volkswagen Group," says George Kell, Sustainability Council Chair and Founding Director of UN Global Compact. "We were invited to be part of this journey and are very much looking forward on being actively involved in the development of this journey." Read more at Green Car Congress, or from Volkswagen. Honda plans to ramp up its share of hybrids sold in the US. In response to increasingly strict emissions standards, the company wants electrified vehicles (including hybrid, plug-in hybrid, battery electric, and fuel cell vehicles) to make up two-thirds of Honda and Acura sales in US by 2030. Some analysts are skeptical, though. Christopher Richter of CLSA Asia-Pacific Markets says that dealers are telling Honda they don't want hybrids. "Unless there's a change in what dealers want, I don't think they are going to get there that fast," Richter says. Read more at Automotive News. Witnesses report spotting what could possibly be the Zee.Aero electric aircraft at Hollister Airport in California. Zee.Aero, a startup funded by Google cofounder Larry Page, has a hangar at that airport, where a photo was taken of the aircraft in question. The craft is said to be capable of vertical takeoff and landing and can fit in a one-car garage, earning it the "flying car" moniker. Eyewitness Saul Gomez described the aircraft as "quiet" and "hovering 20, 25 feet off the ground." Read more at Electrek, and watch the interview at Mercury News. Related Gallery 2017 Honda Accord Hybrid: First Drive View 26 Photos News Source: Green Car Congress, Volkswagen, Automotive News, Electrek, Mercury NewsImage Credit: Copyright 2016 Sebastian Blanco / AOL Auto News Green Acura Honda Volkswagen Green Automakers Electric Hybrid recharge wrapup

Fully Charged rolls into season 3 with VW XL1 and electric Land Rover

It's been some time since last we visited with British actor and electric car proponent Robert Llewellyn and his web-based video series, Fully Charged. The show, now sponsored by Ecotricity, has started rolling out its third season and now has available two episodes featuring a pair of truly unique – and diametrically opposed – vehicles. The first installment starts with some interesting numbers involving the host's Nissan Leaf and its energy consumption over the past 36,000 miles, but soon moves on to the ultra-aero, ultra-expensive Volkswagen XL1. Now, if you've already seen the footage from our own XL1 first drive review, there's not a lot new here except, perhaps, more enthusiasm and a better listen of the two-cylinder diesel kicking in. Still, it's a great reminder of a truly unique vehicle and we enjoyed the segment. The second episode features an electrified Land Rover Defender 110. This is a vehicle you'd more likely see on an African safari than at the local mall. It's not a home-built conversion either, but rather, something the company has put together "for the boffins to create the ideas and see if they work." Boasting a 50-mile range, it's certainly something we like to take on an off-road adventure. Llewellyn is given the chance to do just that, and though the course is somewhat milder than what we might attempt, it does feature a stretch of river and some rough, rutted tracks. You can watch both episodes by scrolling below let us know which vehicle you'd prefer in the comments. This writer is going with the four-wheel-drive. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Fully Charged Green Land Rover Volkswagen Technology Emerging Technologies Electric Videos robert llewellyn fully charged vw xl1