Rarer than an albino squirrel, the slow-selling Cadillac ELR was apparently shuffled into the afterlife three months ago.
Cadillac confirmed to Automotive News that the Chevrolet Volt-based luxury coupe ended production at GM’s Hamtramck facility earlier this year, with remaining units now dwindling from dealer lots.
Tell this news to any random person on the street, and you’ll very likely hear back, “What’s a Cadillac ELR?” (Read More…)
General Motors will test the coastal waters with mild-hybrid versions of its 1500-series trucks beginning this spring, the automaker announced Thursday.
A total of 500 Chevrolet Silverado and 200 GMC Sierra eAssist trucks will be sold exclusively to granola-fed Californians. GM claims the trucks are good for a 13-percent boost in city fuel efficiency, the natural habitat of the vinyl trading, furniture refinishing, kale-eating millennials hopefully interested in a full-size domestic pickup.
The latest effort is unlike GM’s earlier foray into utilitarian electrification, which employed a two-mode hybrid system on GM’s full-size pickups and SUVs jointly developed with BMW and the former DaimlerChrysler. The new, modular eAssist system will rely on a small lithium-ion battery providing electrons to a 13 horsepower compact induction electric motor. The system adds electric power boost, stop/start capability, and regenerative braking to equipped pickups.
Fiat Chrysler Automobiles’ global hybrid chief said that the newly announced Chrysler Pacifica minivan will be the largest vehicle for FCA’s new hybrid powertrain and that the gasoline and battery combo will be scalable to smaller cars.
“This’ll be the largest footprint — in the Pacifica,” Michael Duhaime told us last week at the North American International Auto Show in Detroit. “As we get into the smaller vehicles, basically what we’ll do is put smaller electric motors. The power electronics is part of the transmission … all that stays consistent. We’ll just go with smaller motors, and then the final drive will change with the different vehicles.”
So … Jeep Cherokee Hybrid?
General Motors announced Thursday it would fall short of its goal of having 500,000 electrified vehicles on the road by 2017.
Though the Mitsubishi Evo as we know it will soon fade into history, the Evo nameplate will return in the form of an electrified crossover.
Remember when Tesla CEO Elon Musk declared that Toyota was a fool to invest in hydrogen? Twice? Toyota had a few words to say in return last week.
The Detroit News reports that two versions of the Electric Drive Vehicle Deployment Act of 2010 will be introduced today in the House and Senate. Both bills would spend about $11b by sending $800 million to $1 billion five to eight “deployment communities.” One of the EDVDA’s bipartisan sponsors, Rep Judy Biggert (R-IL) explains that these funds
will help regional communities establish themselves as models for the development and installation of the next generation of transportation infrastructure, including public charging stations
The bill is being backed by several small EV firms, like A123 Systems and Bright Automotive, under the rubric of the Electrification Coalition. And despite the fact that everyone loves a good subsidy, the mainstream automakers are not amused.
Optimism and food were the two abundant commodities at Better Place’s press conference yesterday morning, announcing the company’s first Visitor Center, established – how ironically – inside what used to be an oil tank in Pi Glilot, a former gas depot. It seems that the entire event and the resounding optimism around it were eclipsed by HSBC’s recent $350 million investment in the company.
I’ve been warned before by the B&B not to read too much into the forward-looking statements in SEC filings, especially the ones where companies ruminate over all the things that could still go wrong with their struggling firms. These legal disclosures of worst-case-scenarios often reflect unlikely scenarios and can be downright misleading, so we held off from diving too deep into Tesla’s IPO S-1 filing [complete document here]. Others around the web have jumped in without compunction, and this week has yielded a steady drip of troubling revelations. It’s a wild and woolly collection of issues, but given that people are going to be asked to invest in this nightmare of a company, it’s only fair that we give the grievances an airing.
It goes without saying that it’s always good news for a business to be able to raise hundreds of millions of dollars on the financial markets. Just as important as the financial boost, such capital-raising also raises the profile of the company, presenting it as a viable investment and implicitly endorsing its underlying business plan. In the case of Project Better Place’s recent $350m funding boost however, the benefits might be largely limited to the firm’s balance book. Heavy participation by HSBC, Lazard and Morgan Stanley do help raise Better Place’s profile, but HSBC and Lazard are the only new investors in this most recent round of financing: Morgan Stanley, IsraelCorp, VantagePoint and other previous investors make up the rest of the round. This speaks to a fundamental challenge underlining Project Better Place: broadening, rather than deepening its appeal and support.