1971 Volkswagen Super Beetle Base 1.6l on 2040-cars

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Audi buys Ballard fuel cell patents for $80 million

While some auto companies (e.g., Toyota and Hyundai) are giving away some hydrogen fuel cell patents, others are paying a pretty penny to gain access to the H2 tech. Audi announced today that it has purchased a suite of fuel-cell patent from Ballard Power Systems. The deal between Volkswagen Group and the Canadian fuel cell pioneer is worth over $80 million US. Unsurprisingly, the value of Ballard's stock shot up about a dollar (to $2.61 as of this writing) on the announcement. VW and Ballard will also extend their development agreement, originally scheduled to end in 2017, to March 2019, and possibly another two years after that. Thus far, the deal – which revolves around the "design and manufacture of next-generation fuel cell stacks" for VW's H2 demonstration program – and Ballard says it is a leader in "critical areas of fuel cell product design – including the membrane electrode assembly (MEA), plate and stack components – along with certain testing and integration work." At the LA Auto Show last fall, VW showed off a Golf SportWagen and a Passat with a hydrogen hybrid HyMotion powertrain as well as a Audi A7 Sportback H-Tron Quattro. Audi buys fuel-cell patents from Ballard Power Systems Development agreement with Ballard extended until 2019 Audi's Head of Development Prof. Hackenberg: "The entire VW Group will use these patents." Ingolstadt/Burnaby, February 11, 2015 – AUDI AG has acquired a package of patents relating to fuel-cell technology from Ballard Power Systems Inc. In addition, the Volkswagen Group has extended its cooperation with the Canadian clean energy company until 2019. The purchase of these patents will provide new impetus for the development of fuel-cell drive systems at Audi, VW and the Volkswagen Group. As explained by Prof. Dr. Ulrich Hackenberg, Member of the Board of Management for Technical Development at AUDI AG and responsible for the steering of the development departments of all brands in the VW Group: "Audi is acquiring these strategically important patents for the entire group and will make them available to all the brands. In this way, we are securing crucial expertise that will provide new impetus for the further development of this technology." Ballard Power Systems Inc. is based in Burnaby, Canada, and is one of the world's leading companies in the technology of proton exchange membrane fuel cells.

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.

J.D. Power customer survey of dealers counts Cadillac, Buick as big winners

Cadillac and Buick have taken the trophies in J.D. Power's latest Customer Service Index Study examining satisfaction with dealer service. Surveying more than 90,000 owners and lessees of 2009-2013 model-year cars, the study found that those with pre-paid maintenance packages were ten percent more likely to buy their next car from the same brand.
Dealer satisfaction scores have improved overall, Cadillac nabbed the luxury segment ahead of Audi and Lexus, taking the crown that Lexus held last year. Buick keeps the mass-market dealer satisfaction win in the family, finishing ahead of Volkswagen and last year's winner GMC. The study also found that service department use of tablets increased customer satisfaction, as did "best practices" like "providing helpful advice." Who knew?
You can find details on those and more findings in the press release below.