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VW stock plummets as Euro markets open
Mon, Sep 21 2015The fallout from Volkswagen's installation of an emissions "defeat device" on nearly 500,000 diesel-fueled models in the US is already hitting the automaker hard on the German stock exchange. At one point, the share price plummeted 23 percent to erase the equivalent of $17.6 billion in value. Things eventually bounced back slightly to a still severe 19.23 percent loss, according to Bloomberg as of this writing. The scandal couldn't come at a worse time for chairman Martin Winterkorn. The VW supervisory board takes up the issue of renewing his contract on September 25, Bloomberg reports. If things get bad enough, the door could be open for a new boss to step in. Dealers in the US might start feeling the pain from this, as well. Affected 2015 VWs that are still at showrooms are now under a stop sale. Until the issue is straightened out, the Environmental Protection Agency isn't certifying the company's 2016 diesel models with the 2.0 TDI, either. The diesel emissions problem was first discovered by research from West Virginia University and the International Council on Clean Transportation. In some cases, the engines can produce 40 times more nitrogen oxides than allowed. The automaker could be on the hook for $18 billion in fines for the breach, but the actual figure is expected to be lower. In response, Winterkorn has issued a public apology and ordered an independent investigation into what happened. The EPA and California Air Resources Board have also been looking into the situation. This could become an international problem, though. According to The Detroit News, European authorities might begin similar inquires to check the automaker's diesel emissions there.
VW going turbo-only in 3 to 4 years
Wed, 18 Sep 2013This really was a matter of when, rather than if. Volkswagen will apparently be the first manufacturer to phase out naturally aspirated engines in favor of turbocharging its full slate. VW is kind of responsible for ushering in this push towards small-displacement, turbocharged engines that's taken the industry by storm. When it dropped its direct-injection, 2.0-liter turbo in the 2005 GTI it demonstrated that strapping an iron long to an engine can enhance the powertrain as a whole. VW made fuel economy gains, while also giving a linear, non-laggy turbo experience that it has replicated, model-after-model, to this day.
Speaking with The Detroit News, Volkswagen's executive Vice President of Group Quality, Marc Trahan, told the paper that, "We only have one normally aspirated gas engine, and when we go to the next generation vehicle that it's in, it will be replaced. So three, four years maximum."
Really, it's hard to get teary-eyed about either of these engines going away. VW has access to smaller powerplants that could easily match the performance of the 2.5 five-cylinder and the 3.6 V6, while gobbling up less fuel and providing a better driving experience. What we are sad about is that a similar statement about the extinction of NA engines came from the Vice President of Powertrain Engineering at Ford, Joe Bakaj. We'd certainly get teary-eyed over a world without Ford's excellent 5.0-liter V8.
Recharge Wrap-up: Arcimoto SRK video, BAIC EV at CES
Tue, Jan 12 2016Kelley Blue Book took a spin in the Arcimoto SRK three-wheeled EV at CES in Las Vegas. In the video above, KBB Managing Editor Micah Muzio gets behind the handlebars for a spin around an empty parking lot. He notes a gradual throttle tip-in, though from the video, it appears the trike has a bit of pep. While the hydraulic brake pedal requires a bit of extra effort, the regenerative brake lever located on the right handlebar is effective and easy to use. The steering is a little heavy, but manageable, at low speeds. He calls it "kind of a fun little conveyance," adding, "Maybe this is the future." See the full review in the video above. CARB Chairman Mary Nichols spoke with German television about Volkswagen's emissions scandal. In a photo she posted on Twitter, Nichols can be seen in front of cameras with CARB's test bay in the background. In the bay is a Volkswagen Jetta TDI. She says in her tweet, "Discussing VW cheating case w/German TV in front of ARB lab test bay & '07 diesel Jetta. Time to move on to #EVs!" Late last year, a group of environmentalists and Silicon Valley leaders – Elon Musk included – sent Nichols an open letter suggesting CARB help urge Volkswagen to give up on diesels and focus on electric vehicles. See Nichols's post on Twitter. South Korea's most popular EV is the Renault Samsung Motors (RSM) SM3 ZE (also known as the Renault Fluence ZE). The all-electric vehicle has sold 1,767 units since its arrival in Korea since November 2013, with 2015 sales reaching 1,043 units. This makes one in three EVs in Korea a RSM SM3 ZE. The car has been selected as Korea's official government vehicle, and RSM has supplied over 100 EV taxis, 60 of which are in Seoul. Read more in the press release from Renault. BAIC EV announced it has established an R&D center in Detroit at CES. It will work with its other centers in Silicon Valley and Aachen, Germany in order to develop automotive technology and evaluate global demand. The EV branch of the Chinese automaker also debuted its i-Link information system, which uses 4G to connect car telematics to the cloud. The i-Link system also provides wireless phone charging, remote inquiry services and connects sensing technologies to the internet. Read more in the press release below.