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EU formally questions French government assistance of Peugeot's finance arm

Recently, the finance arm of PSA/Peugeot-Citroën was in such debt trouble that it was pricing itself out of the car loan market. The rates it was paying to service its debt, which was rated one step above junk, were so high that it was forced to charge car-buying customers higher rates than they could find elsewhere. This was adding to Peugeot's already impressive woes by sending revenue out the door to competitors.
Two months ago a deal was worked out with the French government whereby the state would provide 7 billion euro ($9 billion USD) in bonds to guarantee the finance arm's loans. The French government could nominate someone to join the Peugeot board, Peugeot would guarantee more French jobs, and on top of that deal, other banks would provide non-guaranteed loans. The government would take no equity stake in the car company.
Although not yet finalized, the arrangement is meant to create some breathing room for Peugeot Finance to lower its interest rates for customers, and a government-nominated board member, Louis Gallois, was recently named to Peugeot's supervisory board. The arrangement was also openly questioned by at least three competitors: Ford, Renault - which is 15-percent owned by the French government after it received state aid - and the German state of Lower Saxony, itself a 15-percent shareholder in Volkswagen.

Next Volkswagen Golf R to get 286 horsepower?

The seventh-generation Volkswagen Golf hasn't launched in the United States just yet, but we're already setting our sights on the range-topping R model. According to Autocar, the next Golf R will be more powerful than the current version, producing 268 horsepower and 280 pound-feet of torque, making it the most powerful production Golf ever.
Powering the new Golf R will be a further evolution of Volkswagen's well-liked 2.0-liter turbocharged inline-four, and when mated to a six-speed dual-clutch transmission, the hotter hatch will reportedly be able to sprint to 62 miles per hour in five seconds flat. That's over half a second quicker than the current US-spec model.
Other updates for the new Golf R include the addition of VW's Haldex 5 all-wheel-drive system found in the latest iteration of 4Motion. Furthermore, thanks to the use of lightweight materials, the new R is expected to weigh in around 2,650 pounds - that's a massive 675 pounds less than the current US-spec car. The exhaust has reportedly been reworked to provide more aural delight, as well.

Recharge Wrap-up: Smart Ready for Rent, MOIA comes to US in 2018

Daimler is launching its "Smart Ready to Rent" service in Europe. Beginning this month in German and French cities, the rental scheme bridges the gap between short-term Car2go rentals and longer leases. Customers book the Smart model of their choice – including the emissions-free Electric Drive and the hotter Brabus versions – for a period of one day up to three months. As such, Smart Ready to Rent is useful to those who live outside of an urban center. Users can book a car online or through a dealer, and vehicles are collected and returned at the dealership. Read more at Green Car Congress. Volkswagen will launch its MOIA mobility arm in the US in 2018. The recently announced brand will take on public transportation as a competitor with services such as ride hailing and car sharing. VW is looking into forging partnerships with the likes of technology and ride sharing companies. The automaker also expects to show an electric shuttle-type concept in 2017 for pooling services, but will use the three-row VW Atlas crossover in the meantime until that concept reaches production. Look to see MOIA emerging in major cities along the US coasts. Read more at Automotive News. A new report from Lux Research suggests that most EV batteries are better off being recycled than reused. Once lithium-ion batteries have outlived their usefulness for automotive duty, some automakers (BMW, Nissan, and Toyota included) are looking at ways to use their remaining capacity, such as for stationary energy storage. The new report, though, says that reusing batteries offers "questionable returns on account of reduced performance." Better to be like Tesla, and just recycle them. Read more at Hybrid Cars. Related Gallery Smart ForTwo ED: Paris 2016 View 12 Photos Related Gallery 2018 Volkswagen Atlas Unveiling View 43 Photos News Source: Green Car Congress, Automotive News, Hybrid CarsImage Credit: Copyright 2016 Drew Phillips / AOL Green smart Volkswagen Green Automakers Transportation Alternatives Electric recharge wrapup