1993 Suzuki Samurai Jl on 2040-cars

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Suzuki has to take out $45M loan just to shutter US dealers

Bloomberg reports American Suzuki is set to borrow up to $45 million to to close its automotive dealerships and freshen up its it motorcycle and marine business. Suzuki Motor Corporation will loan American Suzuki the funds at three percent below the London Interbank offered rate in order to offer dealer owners a cash payment in exchange for voluntarily abandoning franchise agreements. The company's 216 dealers have 10 days to make a decision on the matter. Under the plan, Suzuki would give dealer owners half of what they're owed in one lump sum, and the dealers would then be able to pursue the remaining debt through the company's bankruptcy procedure.
U.S. Bankruptcy Judge Scott C. Clarkson granted American Suzuki interim authority to borrow the funds, but Bloomberg reports the company will likely return to court in a few weeks to seek up to $100 million. According to Richard Pachulski, a lawyer for Suzuki America, the automaker may owe its dealers somewhere around $50 million.

Recharge Wrap-up: NASA's EV plane, GM and Navy partner on fuel cell drone sub

NASA is building an all-electric test aircraft called the X-57. The lightweight plane's design balances speed with efficiency. The wings house two main propellers at their tips, with twelve smaller motors with retractable prop blades dotting the wing's lead edge. This helps it get the lift it needs to take off while reducing drag in the air, a delicate balance rooted in wing design. The X-57 is part of NASA's 10-year New Aviation Horizons program to make aircraft quieter, more efficient, and less polluting. Fans of The Right Stuff are sure to be pleased to see X-designated planes back in action. Read more at Wired. Suzuki has made its Baleno hatchback more efficient with a mild hybrid system. The European model has a lithium-ion battery pack under the front passenger seat that stores energy from a regenerative braking system to supplement power from the 1.2-liter engine during acceleration. Suzuki says the system improves the Baleno's fuel economy and reduces CO2 emissions by about five percent. Read more from Automotive News Europe. The Borgward BX7 plug-in hybrid SUV has won several Plus X Awards. The revived German automaker's PHEV received awards in the categories of Design, High Quality, Ergonomics, and Functionality. Any Plus X Award winner must display added value, which the panel of judges call the "Plus X Factor." The BX7 launched in China earlier this year, with plans to go on sale in India later this year and Europe soon after that. Read more at Green Car Congress. General Motors and the US Navy are teaming up to power underwater drones with hydrogen fuel cells. The Navy's goal is to provide its large displacement unmanned undersea vehicles (UUVs) with 60 days of operation between refueling. "Our in-water experiments with an integrated prototype show that fuel cells can be game changers for autonomous underwater systems," says Frank Herr, head of Ocean Battlespace Sensing at the Office of Naval Research. "Reliability, high energy, and cost effectiveness – all brought to us via GM's partnering – are particularly important as Navy looks to use UUVs as force multipliers." GM says that just as on-road experience gained through its Project Driveway fuel cell test fleet is valuable, automotive customers stand to benefit from lessons learned from this naval project. Read more in the press release below. GM AND U.S.

It's a hard knock life for a N"urburgring rental car

Rental cars get no respect. They're abused, misused and flogged mercilessly as athletes in Rental Car Olympics. And that's just at your everyday airport rental counter. The torture gets extreme for rental cars thrashed around Germany's infamous Nürburgring.
Rent4Ring expects its customers to drive its cars around the 'Ring with enthusiasm and, in some cases, less skill than the pros. Rent4Ring just recently retired its Suzuki Swift Sport from its fleet and shared the car's two-year-plus lifetime highlights.
The little hatchback made more than 2,800 laps of the 'Ring over three seasons amounting to more than 310,000 miles driven by 457 different drivers. "Some were fast, some were slow. Some were nice to the car, a few were frankly awful," says a Rent4Ring rep.