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Regulators consider adding more carmakers to Takata recall
Tue, Sep 29 2015Volkswagen's diesel emissions scandal has been getting a lot of press recently, but the Takata airbag inflator affair could be grabbing headlines again soon. According to Bloomberg, the National Highway Traffic Safety Administration is contemplating an expansion to the campaign that could add seven automakers to the 12 already affected. They are Jaguar Land Rover, Mercedes-Benz, Spartan Motors, Suzuki, Tesla, Volvo Trucks, and VW Group. To be clear, there's no recall for any of these automakers, yet. The government is simply asking for a full list of vehicles that each of them have with Takata-supplied inflators containing ammonium nitrate propellant. The agency is concerned this substance could play a roll in the ruptures. "NHTSA is considering not only whether to issue an administrative order that would coordinate the remedy programs associated with the current Takata recalls, but also whether such an order should include expansion of the current recalls," the letters say. All seven can be viewed, here. From a report supplied by Takata, the government already knows that the company supplied 887,055 inflators with ammonium-nitrate propellant to VW and 184,926 of them to Tesla. In an incident during the summer, a side airbag allegedly burst in a 2015 VW Tiguan. In early September, NHTSA put out a revised report that there were 23.4 million inflators to be replaced in 19.2 million vehicles in the US. An earlier accounting from the agency had about 34 million of the parts in 30 million cars. High humidity is still believed to be among the biggest risk factors for the ruptures. Although, if ammonium nitrate also gets the blame, some already recalled models might need to be repaired again. Related Video:
VW ready to spend $25B on at least 6 EVs in China by 2018
Tue, Apr 22 2014Standing next to the lovely GTE plug-in hybrid during the Beijing Motor Show, VW CEO Martin Winterkorn announced a renewed, $25-billion focus for the German automaker on electric mobility in China. EVs + China is not a new equation for VW (see here and here and here), but the time is now for the plan to come together, apparently. As Winterkorn said in a statement (available below), "We are launching the biggest initiative for e-mobility in China's automotive history." "We are launching the biggest initiative for e-mobility in China's automotive history" – Martin Winterkorn With the Porsche Panamera S E-hybrid already in showrooms, the next tip of the spear is made up of the all-electric e-up! and e-Golf, both of which are due later this year. In 2015, the Audi A3 e-tron and Golf GTE will arrive. In 2016, there will be two exclusive-to-China plug-in hybrid vehicles in showrooms: a A6 PHEV and a "new mid-size limousine from the Volkswagen brand." VW Group may even throw in the Bentley Hybrid Concept for good measure. The China-only models will be built in the country and VW is investing over $25 billion between now and 2018, creating an expected 20,000 jobs. VOLKSWAGEN GROUP STARTS ELECTRO-MOBILITY CAMPAIGN IN CHINA CEO Prof. Dr. Winterkorn: "We are launching the biggest initiative for e-mobility in China's automotive history." Campaign gets underway with electric up!1 and e-Golf2 Over ˆ18 billion to be spent on new vehicles, technologies and plants up to 2018 Over 500,000 employees at more than 3,600 dealerships in 2018 Vehicle deliveries in China targeted to top 3.5 million for first time in 2014 Wolfsburg / Beijing, April 22, 2014: "The Volkswagen Group is once again assuming a pioneering role in China and launching the biggest initiative for e-mobility in China's automotive history," Prof. Dr. Martin Winterkorn, CEO of Volkswagen Aktiengesellschaft, announced at the Auto China motor show in Beijing. The initiative gets underway with the launch this year of the Volkswagen brand's electric up!1 and e-Golf2 models. While the Porsche Panamera S E-hybrid3 is already in the showrooms in China, the Group will be launching two further innovative plug-in hybrid vehicles there next year with the Audi A3 e-tron4 and the Golf GTE5.
New investor allows Suzuki to fend off VW
Tue, Aug 4 2015After years of legal wrangling, the long-soured partnership between Volkswagen and Suzuki looks finally to be coming out of arbitration, according to Bloomberg. As a sign of the Japanese brand's improved fortunes, hedge fund Third Point LLC recently bought an undisclosed stake in the company. The investor reported seeing a major opportunity in the successful Maruti Suzuki business in India. As an investment, the only major problem that Third Point found with Suzuki was its legal battle with VW. "The company's greatest asset is its low-cost manufacturing process for vehicles for the emerging market consumer," the fund said in a letter, according to Bloomberg. Third Point reportedly also wants a seat on Suzuki's board, despite being a minority shareholder. The alliance between Suzuki and VW goes back to late 2009. In the deal, the Japanese brand was meant to get access to cutting-edge tech, and the German firm got a helping hand towards better establishing itself in India and Southeast Asia. Things didn't go as planned, though. Less than two years later, Suzuki's boss publicly derided the deal. Eventually, the allegations started going back and forth, and the two have been working out a way to untangle practically ever since. Among the biggest issue has been how to get back the 19.9 percent stake that VW purchased. According to Bloomberg, the arbitration is now technically over. With the divorce nearly final, the two sides are just waiting on a decision on how to split things up. Suzuki may even just buy VW's stake to get the shares back.