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Yesterday’s news that Nissan will buy a 34-percent controlling stake in Mitsubishi for $2.2 billion was the latest win for Carlos Ghosn, the man behind the Renault-Nissan Alliance of 1999 and possessor of many fingers in many pies.
Ghosn, CEO of both Nissan and Renault, inked the agreement with Mitsubishi as the other automaker battles a misleading gas-mileage scandal. At a price of 468.52 yen/share, Ghosn’s purchase of new shares was a smoking deal. Mitsubishi shares traded for 1,100 yen just last December.
What becomes of the two companies now? And how will Ghosn’s world-straddling empire benefit by snapping up beleaguered Mitsubishi? Read More >
It was nice of Tesla founder Elon Musk to deliver a Model S P85D to the Los Angeles Police Department for testing last year, but they’re kindly going to return it. Possibly with a note under the wiper asking him to make it much cheaper.
The hyper-performing electric sedan took up residence with the LAPD (along with a BMW i3) last September, part of a research initiative that studied how EVs could fit into a future policing model.
With testing over and grades handed out, the LAPD can now say with confidence that the Model S isn’t their cup of tea. The speed was nice, but the price? This isn’t Dubai. Read More >
At the Tesla Model 3’s glitzy unveiling, everyone knew the model was a half-baked cake. Now, company founder Elon Musk admits the much-hyped electric sedan still isn’t out of the oven.
Musk said in a recent conference call that the design of the $35,000 Model 3 EV still isn’t finalized, according to Reuters, and the company plans a spending spree to get the model into production on time. Read More >
The newest luxury marque is already pursuing an electrification strategy to compete with the Germans.
Genesis, the upstart luxury division of Hyundai, rolls out its first vehicles this year, and plug-in hybrid models will soon follow, reports Automotive News.
The effort is all about battling competitors BMW, Mercedes-Benz and Porsche on their own turf. Those luxury automakers are planning to increase their hybrid offerings in a market seen as more receptive to plug-ins. Read More >
Something electric could be brewing at General Motors, and we’re not talking about just the Chevrolet Bolt.
John Rosevear at the Motley Fool has an interesting take on what the future holds for Orion Assembly (the Michigan facility tapped to produce the Bolt this fall), and why GM seems to be keeping other models away from the plant. Read More >
What a difference a few years make.
Perhaps you’re old enough to remember when scientists warned us about an impending ice age. Today, climate change concerns have to do with global warming.
Just a few years ago, “peak oil” — the theory of terminal decline once we’ve reached the maximum extraction rate from known petroleum reserves — was popular. A couple of recent perspectives, however, indicate that we may not hit peak oil production and consumption for the foreseeable future — and that the price of oil may actually go down long-term. Read More >
Fiat-Chrysler CEO Sergio Marchionne can see a beautiful future with partner Google, but there’s plenty of fish in the sea, you know.
Speaking in Windsor, Ontario, where Chrysler Pacifica minivan production recently kicked off, Marchionne called FCA’s Google fling the “first phase” of their relationship, but admits to wanting to keep his options open, Automotive News reports. Read More >
Time’s a wastin’ if you want to impress your friends and neighbors with a gee-whiz Tesla Model 3 anytime in the next three years.
As he’s known to do, Tesla founder Elon Musk took to Twitter last night to warm wannabe owners about the growing wait for his $35,000 electric sedan. If you’re just lining up for a Model 3 now, consider signing a lease for another vehicle while you wait — you probably won’t have to terminate it early. Read More >
There’s probably no s’mores or ghost stories, but Tesla founder Elon Musk is still a fan of camping out at his company’s Fremont, California production facility.
Musk admitted to giving his sleeping bag a regular workout during a recent earnings call, during which he outlined his production goals for the upcoming Model 3. The optimistic deadline of July 1, 2017 is now viewed as impossible (due to supply issues), but Musk is optimistic that significant quantities of the $35,000 EV will be out the door before New Year’s Eve.
Musk might need to splurge on an upgraded sleeping bag next summer. Read More >
“Do those non-diesel things, only better,” seems to be Volkswagen’s mantra these days.
The aftermath of the continuing diesel emissions scandal saw the embattled automaker dive deep into cleaner technology, and it now looks like VW wants its name on a relatively cheap electric vehicle, Autocar reports (via Carscoops). Read More >