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Recharge Wrap-up: Elio TV ads, Waivecar free EV carsharing

Waivecar is a new carsharing service that allows users two free hours of EV driving. The rentals are paid for with advertising, and each Chevrolet Spark EV in the fleet has an ad board affixed to its roof. So, while the driver enjoys free use of the car, the organizations buying the ads get exposure wherever the user goes. Drivers pay $5.99 per hour past the first two free hours of use. The company is undergoing a three-month trial in Venice Beach and Santa Monica before considering possible expansion. "We're giving to the lower-income people that need cars," says Waivecar CEO Isaac Deutsch. Read more at Green Car Reports. Volkswagen CEO Matthias Mueller is calling for a reworking of European emissions testing. He feels it is time to adapt the tests so that lab results more closely reflect those of real-world driving. "The industrywide discrepancies between official test results and actual usage is no longer tolerable," says Mueller. "We, the industry, need to take a new path." He also says he will make VW more environmentally friendly, and that the automaker plans to roll out 20 new electric vehicles by 2020. Additionally, Mueller is urging politicians to support the building of charging infrastructure. Read more at Bloomberg Business. Elio Motors has launched its first television ad campaign. The 30- and 60-second spots for the three-wheeled EV are titled "Own The Future," and will air on a variety of cable networks including ESPN, Fox News and National Geographic. "Our grassroots and digital efforts have helped create a strong – almost rabid – enthusiasm for our vehicle," says Elio Motors Founder and CEO Paul Elio. "As our funding situation continues to make progress, we are now in a position to share our message and create more fans through this national advertising campaign." Read more in the press release below. Elio Motors Continues Momentum with Launch of First National Television Advertising Campaign PHOENIX, Jan. 26, 2016 /PRNewswire/ -- Elio Motors (www.eliomotors.com) today announced it has launched its first national television advertising campaign to continue building consumer awareness for the company's three-wheeled vehicle that is expected to get up to 84 MPG and sell for a targeted base price of $6,800. The company, which anticipates production to launch in late 2016, has already gained an enthusiastic following through grass-roots events and digital marketing.

$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

Mercedes-Benz, Volkswagen, and Audi announce Takata recalls

Daimler, Volkswagen, and Audi will recall nearly 1.7 million total vehicles in the US to replace their Takata airbag inflators. The Japanese parts supplier and the National Highway Traffic Safety Administration announced in late January that several automakers would need to fix around five million more vehicles, and the various companies have been releasing the details since then. Daimler has a recall for 841,000 vehicles in the US, including 705,000 from Mercedes-Benz and 136,000 from the company's van division. Reuters reports the affected models consist of 2005-2014 examples of the SLK-Class, C-Class, E-Class, M-Class, GL-Class, R-Class, and SLS-Class. The vans comprise the 2007-2014 models of the Dodge, Freightliner, and Mercedes Sprinter. Autoblog reached out to Mercedes USA to confirm these details, and we're awaiting a reply. Daimler expects the repair campaign to cost 340 million euros ($382 million at current rates). The company will book the costs as part of its financial year 2015 results, and net profit for that year will fall to 8.7 billion euros ($9.8 billion). Volkswagen's recall covers 680,000 vehicles in the US to replace their driver side airbags. The affected models have Takata's SDI and PSDI-5 inflators, which could rupture in an crash, but the automaker isn't aware of any explosions for these parts in its products. This campaign includes: 2006-2010 Passat Sedan and Wagon (German Production) 2012-2014 Eos 2010-2014 Golf 2010-2014 Jetta SportWagen 2012-2014 Passat (U.S. Production) 2009-2014 CC There are also 170,000 Audi vehicles with the SDI and PSDI-5 inflators in the US, but there are no reports of the parts rupturing in the company's models. The affected products are: 2005-2013 A3 2006-2009 A4 Cabrio 2009-2012 Q5 2010-2011 A5 Cabrio VW and Audi are still working to identify the specific VINs for these vehicles. Afterwards, they will notify affected owners. Ford, Mazda, and Honda already announced details for their new round of Takata repairs. VW and Audi also recalled a small number of Tiguans and Q5s to replace their side airbag inflators from the Japanese company. NHTSA still expects BMW and Saab to detail expanded safety campaigns.