1974 Volkswagen Bug on 2040-cars

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Recharge Wrap-Up: Tesla, CarCharging and the EPA

Credit Suisse analysts are bullish on Tesla. The group gives the electric car company's stock an "outperform" rating with a target price of $325. For its continued success, Credit Suisse cites the vehicles' superior technology, in turn offering more torque, roominess and reliability. Says analyst Dan Galves said of Tesla's competition with ICEs, "If Tesla can get to cost-parity with Internal Combustion vehicles and still offer $1,400 to $2,500 per year fuel savings to the consumer, it won't be a fair fight." Read more at Yahoo Finance or at Business Insider. In other Tesla news, Tesla Model S owners will be able to unlock and start their car using an iPhone. The Tesla app is adding this functionality soon, perhaps with the update to iOS 8. It's not yet clear how this function will work, but it's one more innovative convenience feature that Model S owners can enjoy. That means drivers will have less to carry in their pockets or purses when they go for a drive. Read more at 9 to 5 Mac. CarCharging Group has remotely lowered the amperage on some of its residential users' Blink charging stations to 24 amps. This will slow down the charging time for affected customers with 6.6-kilowatt charging by about 15 percent. The company cited safety reasons for the move, with concerns about overheating. The amperage reduction is temporary, until CarCharging is able to provide replacement parts for the chargers. Some are concerned about the delayed action, as well as the fact that the reduction was handled without owner permission. Read more at Plugin Cars. Ford is halting test drives and sales of certain C-Max hybrid and Focus models due to a safety concern. Cars made during a single week this month at a Michigan factory may not have enough ball bearings in the steering gear assembly, which could lead to loss of control. None of the affected cars have been sold, Ford says, and about 50 units are currently at dealerships. Just over 600 will need to be recalled. Dealerships have been notified of the problem. Read more at Reuters and the The Detroit News. A new EPA report shows that urban air in the US is becoming less toxic since the Clean Air Act Amendments of 1990. The report shows a 66-percent reduction in benzene, almost 60 percent reduction in mercury from man-made sources, 84 percent less lead and more.

Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

Autoblog Podcast #327

New York Auto Show, Jim Farley interview, 2014 Chevrolet Silverado fuel economy, Ford fuel economy app challenge
Episode #327 of the Autoblog Podcast is here, and this week, Dan Roth, Zach Bowman and Jeff Ross talk about this year's New York Auto Show, Chevrolet's latest assault in the pickup truck fuel economy battle, and Ford's reward for developing a better fuel economy app. Dan also has an interview with Ford's Jim Farley about the future of Lincoln. We wrap with your questions and emails, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Keep reading for our Q&A module for you to scroll through and follow along, too. Thanks for listening!
Autoblog Podcast #327: