New Regs Seek 5% Annual Boost In Efficiency Through 2016
Yesterday, President Obama unveiled the new auto emissions and efficiency standards that we've been expecting since last week. Those regulations, which kick in during the 2012 model year, require an annual boost in fuel efficiency of around 5%, with a target of reaching 35.5 mpg by calendar year 2016. (That's from a starting point of 27.3 mpg in the 2011 model year.)
Of course, those efficiency figures represent fleetwide averages. Cars will have higher standards, ranging from 33.6 mpg in 2012 to 38 mpg in 2016. Light trucks have it slightly easier, with a planned efficiency increase from 25 mpg to 28.3 mpg by model year 2015.
Along with those efficiency thresholds, the joint regulations from the Department of Transportation and Environmental Protection Agency also detail new emissions standards: by model year 2015, fleets are expected to average 250 g of CO2 per mile. (Sadly, the document outlining these regulations doesn't tread quite so lightly, clocking in at a hefty 1,227 pages.)
So far, the reaction to Obama's announcement from automakers and environmental groups has been largely positive. Automakers in particular are happy to see one set of efficiency and emissions regulations that covers the entire U.S., rather than the patchwork code that was beginning to take shape after California received permission from the EPA to set its own standards. Speaking to GM plant workers in Lordstown, Ohio, the president said, "For too long, our auto companies faced uncertain and conflicting fuel-economy standards. That made it difficult for you to plan down the road." Obama also mentioned that owners of 2015-year vehicles will save an average of $3000 in fuel costs compared to most vehicles on the road today.
Still, some manufacturers are expected to lag on implementation of the new standards, and accordingly, they'll pay a per-vehicle fine. Those costs should range from around $500 per vehicle in 2011 to $1,500 in calendar year 2016. Interestingly, implementing fuel-efficient technology is expected to cost less than those fines: per-vehicle tech fees are projected to average $78 in 2011, growing to $1051 in 2016. In other words, installing efficient technology would seem to be in automakers' best interest. (NB: it's worth noting that automakers who sell less than 400,000 vehicles in the U.S. will be allowed subject to slightly lower standards for 25% of their fleet.)
The proposal is now subject to public comment for 60 days, after which it will be re-examined and revised. The DOT/EPA regulations will be published in final form by March 31, 2010.
[AutoNews]
This story originally appeared at The Car Connection
2009 Frankfurt Auto Show Coverage
They call it the "Messe" for a good reason.The show halls that enclose the sprawling Frankfurt Auto Show now number eleven. If you want to make it from the pantheon-style dome that houses Mercedes-Benz to the brand-new Halle 11 that's home to BMW's huge display, you'll need running shoes. Or one of those mythological shuttles that is said to cart journalists around the show grounds. In our dreams.
It wasn't like the glory days of the early 2000s, but this year's Frankfurt gathering showed some strong signs of life. The auto industry's starting to get back on its feet after an annus horribilis that nearly claimed some of the world's biggest automakers. It's still sickly, particularly in the U.S., but it's no longer in triage.
<a href="http://www.coveritlive.com/mobile.php?option=com_mobile&task=viewaltcast&altcast_code=470cb067ca" rel="nofollow">HighGearMedia.com Covers the 2009 Frankfurt Auto Show</a>
The 2009 Frankfurt Auto Show was the first big show since sales in the American market began to murmur off their flatline. And still, it proved to be all about the home-team advantage. BMW, Mercedes-Benz and Volkswagen ruled the roost with new production vehicles and concept cars, while GM, Ford and Chrysler--and Toyota, Honda, Lexus, Infiniti and everyone else--play a supporting role.
Lucky you--you don't have to fight for press kits, photos or shuttle rides. TheCarConnection waded through all eleven Frankfurt halls to cover the 2009 Frankfurt Auto Show live, right here inside your browser, like magic. With our High Gear Media team--TheCarConnection, Motor Authority and GreenCarReports--we've brought you different angles on the stories from Frankfurt, from luxury sedans and exotic coupes to the brace of new electric vehicles introduced by the likeliest, and least likely, of carmakers.
Need an insider tip sheet? Here's the vast collection of new cars, crossovers and electric vehicles that took a bow at the Frankfurt Messe:
2009 Frankfurt Auto Show: New Production Vehicles
Aston Martin Rapide: It's the lissome four-door you've been waiting for. If you are James Bond, and not Bernie Madoff. It's the Aston Martin Rapide, and it's set for a world show-off in Frankfurt. Crowds may get stuck on its stunning shape; we're keen to hear more about its 470-hp V-12 engine and those "swan-wing" doors Aston's been promising. The child-sized rear seats? We don't have that much attention span, now.
2010 Porsche 911 GT3 RS: The Crayola-chic Porsche 911 GT3 RS is heading a few hundred kilometers north from its birthplace to Frankfurt. It'll bring with it a bored-out 3.8-liter flat six making 450 horsepower. The redline's soared to 8500 rpm, and the more powerful engine's paired with a six-speed manual shifter with shorter ratios than those in the GT3. That probably shaves miles per hour off its top end, Porsche admits, but it's in the interests of making the GT3 RS an even sharper tool on the track.
Ferrari 458 Italia: Heroes welcome--come to Frankfurt, where a Ferrari press-kit giveaway brings with it a danger that even Dave Salmone wouldn't approach without a big knife. (He's the new Paul Hogan, right?) The core of the new Ferrari supercar is a 4.5-liter engine (hence the name, plus an "8" for its cylinder count) that puts out 570 horsepower and 400 pound-feet of torque. Ferrari promises the new engine, coupled to a seven-speed dual-clutch transmission, will shuttle the 458 Italia to 60 mph in less than 3.4 seconds--comparable to an, um, Nissan GT-R. Top speed should reach 202 mph.
Lamborghini Reventon Roadster: Lamborghini unveiled a Reventon Roadster at the Frankfurt Auto Show, and as usual, paired it with a selection of high-fashion models of a human nature. Only a handful of the supercars will be built, each featuring a snazzy 670-hp V-12 and a pricetag of $1.65 million. (Before taxes, naturally.)
Mercedes-Benz SLS AMG: A new gullwing sounds lovely--and sounds nothing like those Aston swan wings, correct? Correct. The 2011 Mercedes-Benz SLS AMG is a successor to the current Benz SLR roadster and former coupe. Inside a lightweight body, the SLS AMG will offer up a single powertrain, an evolution of today's big AMG V-8.That 6.2-liter V-8 is expected to produce about 565 horsepower in U.S. specification, along with 479 pound-feet of torque. Through a seven-speed dual-clutch transmission, and rear-wheel drive, the SLS AMG is predicted to hit 60 mph from a standstill in about 3.8 seconds. Follow the link for our preview--and come back in November for our first drive.
BMW 5 Series Gran Turismo: Its sloping tail has drawn comments on either side of the approval fence, and the 5-Series GT is not quite even in print yet. BMW promises lots of room and a flexible rear seating area in the GT, which comes to the U.S. with BMW's 4.4-liter twin-turbo V-8, with 400 horsepower and a new eight-speed automatic transmission. BMW promises 0-60 mph times of 5.4 seconds and a limited top speed of 130 mph, with a 150-mph top end on vehicles outfitted with a Sport package. There's Active Steering, Dynamic Damping Control, adaptive roll control and Driving Dynamics Control, to tailor the driving experience for different tastes. In back, the seats are raised, and move fore and aft on a track up to 4 inches, as passenger and cargo needs change. The tailgate opens as a conventional trunklid or as a large hatch, making cargo loading easier.
Rolls-Royce Ghost: The new sedan--a Bentley Continental challenger, perhaps, but a pricey one--was unveiled at Frankfurt in a dashing shade of sable. There's a preview at the link, and elsewhere you can follow Rolls' Ghost configurator Web site through the process of customizing your Ghost. You can plan your colors and trims on your new British sedan before accessing all your home equity to actually pay for the thing. Big V-8 and V-12 engines are in the offing, along with an eight-speed automatic, coupe and convertible body styles, and a certain sense of privilege.
2011 Bentley Mulsanne: Catfight Part II pits the 2011 Mulsanne right up against the dowager Rolls-Royce Phantom. Oh, yes--it's on. The Mulsanne gets a new architecture, a new V-8 engine, and probably a $300,000 base price. That's before you order the in-door drink carts, knurled aluminum dash, quilted seats, and before you order people around in that tone.
2010 Saab 9-5: GM's set to sell the brand to Koenigsegg, which makes the future of Saab uncertain in our eyes. However, they're insisting the 2010 9-5 four-door and wagon are coming.
Volvo C70: Volvo’s ultra-stylish C70 Convertible has a received a facelift for the 2010 model year and has been revealed in Frankfurt, and it's a worthwhile update to the somewhat stodgy four-seat fold-top. Equipped with the same three-piece steel roof, practical seating for four adults and Volvo’s renowned reputation for safety, the facelifted C70 features an updated front and rear design, along with an updated interior.
2011 Mercedes-Benz E-Class Wagon: It's returning to America in E350 4Matic form, to pair with the recently driven E-Class sedan and wagon. Alas, the AMG edition shown here won't make the trip to America.
BMW X1: The new crossover is smaller than an X3, pricier than a Honda CR-V, and more adept at social media than lots of auto Web sites we know. We'll take a closer look and maybe drive one around the Frankfurt halls, if we can grab the keys from unsuspecting PR folks.
Audi R8 Spyder: The convertible version of Audi's sportscar shows up, with V-10 power "inspired" by Lamborghini. Possibly with a crowd of followers, too. Audi promises a 195-mph hairstyle for those with $150,000 or so in their coffers (coiffeurs?). There's also the electric version, the wildly named e-tron concept. No light cycles, though, drat.
Hyundai Tucson: The new compact crossover is known as the ix35 in Europe. In Frankfurt, the Tucson shows up with a much more muscular style. Front-drive and all-wheel-drive versions will be offered in the U.S. Tucson; a four-cylinder engine and a six-cylinder option are expected to power the new crossover.MINI Cooper Camden and Mayfair: It's MINI's 50th anniversary, and these two models will show up, just waiting for someone to take their picture. We'll volunteer.
Superlight Mazda MX-5 Miata: A race-minded version of the "Miata" (get over it) shows up in Frankfurt; is your track license up to date?
VW Polo: The new world subcompact takes a bow. Come 2011, it's coming to the U.S. to take on the Honda Fit and Ford Fiesta and Chevy Spark.
2012 Ford C-MAX: A new compact minivan based on the next Focus, the C-Max arrives in the U.S. late in 2011 with the global name and all.
2009 Frankfurt Auto Show: Concept Cars
BMW Concept EfficientDynamics: It's a diesel, a hybrid, a plug-in, a three-cylinder--and a tour de force, perhaps? BMW's Vision EfficientDynamics concept car grafts fashionable green technology on the body of a 2+2 sports car. The promise: BMW M-car performance from a vehicle with a three-cylinder diesel plug-in hybrid powertrain.
MINI Coupe and MINI Roadster Concepts: Dubbed the 2009 MINI Coupe or MINI Roadster Concept, the latest concept cars preview what will show up in the brand's showrooms in a couple of years. MINI is calling it a prototype for now but its engine and chassis, in this case a 211 horsepower and 192 pound-feet of torque (206 pound-feet with overboost) 1.6-liter gasoline unit and stiffened suspension lifted from the high-performance John Cooper Works model, are entirely plausible for a production spec model. Strictly a two-seater, the low roof line, compact dimensions, perfect axle load distribution and lightweight construction are all trademarks of a genuine sports car.
Lexus LF-Ch: The 2010 Lexus HS 250h is barely out and about, and already Lexus is preparing for an even more compact hybrid. The concept for the new concept, called the LF-Ch, has been revealed in Frankfurt. The rear three-quarters view of the car shows off some pleasant lines, but the heavily-styled rear fascia and stealthed door handles are not likely to make it to a production version.
Trabant: It's the brand no one wanted revived. Now, a German company with the rather itchy name of Herpa says it will reconstitute the Trabant brand at the 2009 Frankfurt auto show. They'll show a "New Trabi" prototype to lure investors in their scheme to restart the brand in its hometown of Zwickau. The concept will "sport" an electric drivetrain, a solar panel for battery recharges (perfect for powering up during those long, sunny winter days in Rostock), and a driving range of--well, they're claiming 156 miles.
Bugatti Galabier: The concept that wasthe talk of Frankfurt wasn't even there. Bugatti is hosting sneak previews of the new Galabier concept sedan for clients and dealers, but the concept itself won't come to the show at all. It could in fact be a trio of concepts tested over the next few months, prior to a world debut. Or a very quiet shelving, if economics don't justify new Bugattis just yet.
2009 Frankfurt Auto Show: Green Cars
BMW X6 ActiveHybrid and 7 Series ActiveHybrid: BMW's first hybrids ever greened up its stand in Frankfurt. They're slightly different in technology, if not mission: the X6 is based on the two-mode technology developed with GM, Chrysler and Daimler, while the 7-Series is a homegrown design with lithium-ion batteries.
Volkswagen E-up! and Volkswagen L1: The German car world is putting a toe in the electric-car pond again. If they're not electrocuted in the process, Volkswagen could turn its Frankfurt E-up! electric-car concept into reality as a new Beetle for the coming electric age. If that happens. For entertainment value, the single-seater L1 shows what could happen if certain Congressional leaders keep writing legislation for industries they know nothing about.
Renault EVs: The vehicle coming from Renault and Project Better Place saw a worldwide launch in Frankfurt as the Fluence EV concept, joined by three other less real show vehicles, including the Twizy. They'll be followed by lots of tests and first drives and pilot studies and possibly, one day...a better place. You have to earn a name like that, somehow.
2009 Frankfurt Auto Show: Headlines
Preview: 157 MPG Volkswagen L1 Concept
Ford C-MAX Headed To U.S. By Late 2011
Preview: 2010 Aston Martin Rapide
Frankfurt: Audi e-Tron Electric Car Has Awesome Torque, All-Wheel-Drive
Preview: 2011 Bentley Mulsanne
2009 Frankfurt Auto Show: MINI Roadster Concept
Zero-Emissions Volkswagen E-Up! Concept Rolls Out At Frankfurt
Preview: Lamborghini Reventon Roadster
Bugatti Galibier 16C Concept Previews New Super Sedan
2009 Audi R8 E-Tron Concept Revealed
Citroen Revolte/2CV Concept To Show At Frankfurt
Mercedes-Benz S500 Concept for Frankfurt: Plug-In Hybrid S-Class
Hyundai Unveils 2009 ix-Metro Hybrid Crossover Concept
Ford’s New 2011 C-Max Destined For U.S. Sale?
MINI Coupe Becomes Reality--Before It's a Concept
BMW News: MINI Crossover Delayed, Isetta Based On Toyota iQ?
Frankfurt Auto Show: BMW Vision EfficientDynamics Concept
Spy Shots: 2010 Hyundai Tucson
Rumor: Lamborghini Reventon Roadster Cruising To Frankfurt
Preview: 2010 Porsche 911 GT3 RS
2009 Frankfurt Auto Show: Lexus Teases New Compact
2009 Frankfurt Auto Show: BMW's Green Four-Door Coupe
2009 Frankfurt Auto Show: Superlight Mazda MX-5 Miata
Preview: 2011 Mercedes-Benz E-Class Wagon
2010 Saab 9-5 Preview [2009 Frankfurt Auto Show]
Teaser Image Hints At New Bugatti Model
2011 Mercedes-Benz SLS AMG: First Photo, Going Electric Too?
Renault To Preview Production EV at 2009 Frankfurt Motor Show
Audi R8 Spyder: Now With Rip-Roaring V10
2011 Volkswagen Polo: Wagon, Coupe, and a New GTI?
VW To Challenge Chevy Volt At Frankfurt
2009 Frankfurt Auto Show: Stay Updated
Bookmarks: Follow our Frankfurt Auto Show tag and this 2009 Frankfurt Auto Show page for updates
Subscribe to our High Gear Media RSS feed on your browser or by email--or, get RSS feeds for TheCarConnection, MotorAuthority and GreenCarReports separately
Facebook: High Gear Media, TheCarConnection
YouTube: HighGearMediaVideos
Twitter: @CarConnection, @TheRealMA, @GreenCarReports, @HighGearMedia
--------------------------------
Write your own car blog at High Gear Media! Sign up to write and tell car enthusiasts and shoppers what you think about your vehicle or today's car news and get published to High Gear Media sites like AllSmallCars, LexusReports, FamilyCarGuide and more!
This story originally appeared at The Car Connection
Cash for Clunkers Ends Under Budget, Sort Of
Car dealers are happy, the White House may be happy--and taxpayers might be happy, depending on their point of view, that the Cash for Clunkers program ("CARS") ended this past weekend under its final $3 billion budget.
The Associated Press estimates the sales stemming from the $3500 to $4500 rebates for old gas-guzzling cars produced about 700,000 new-vehicle sales, after two years of sales declines in the U.S. auto market.
The final tally for sales of 690,114 clunker trade-ins translates into $2.88 billion spent on the clunker rebates, the AP adds. That's under the final allocated amount, but significantly more than the $1 billion initially set aside for the program.
Dealers may have generated many new sales, but plenty were frustrated by the program--and remain so, since not all the rebate checks from the government to dealers have been issued.
They may have more reason to sour on the program. Some analysts feel the program only pulled ahead sales from the months ahead; while annualized sales in July rose to 11.2 million units, the highest in 2009, the removal of the stimulus is expected to return sales to around 10 million units on an annual basis.
Among the other winners in the Cash for Clunkers program: Toyota, Nissan and Honda, which claimed 41 percent of the new-vehicle sales the CARS program generated. The Detroit automakers accounted for 39 percent of all sales.
The most popular vehicles bought in exchange for clunkers? The Toyota Corolla and Camry, Honda Civic and Ford Focus, all made in America. The most often traded clunkers were also American-made--among them, the Ford Explorer, the Ford F-150 pickup truck, and the Jeep Grand Cherokee SUV.
This story originally appeared at The Car Connection
Renault Helps Mercedes On New Smart, Plans Return To U.S.
No one can deny that French automaker Renault is on the move these days. In addition to its work with Nissan on electric vehicles, the company is in talks with Mercedes-Benz to develop a new model for Mercedes' Smart brand. And here in the U.S., the company is chatting with Roger Penske about selling Renault-badged vehicles on American lots alongside Saturn automobiles -- automobiles that Renault's Samsung subsidiary may begin producing after General Motors pulls the plug in 2011.
Obviously, no one should underestimate the power of good, French coffee.
On the Smart front, Mercedes is hoping to expand Smart's seriously limited (read: one model) line-up by partnering with Renault to develop a new four-seater, based on the popular Renault Twingo. This would be one of several new vehicles that Mercedes plans to add to the Smart brand, including a curious three-seater, the patent for which has recently appeared online. You might recall that Smart once produced a four-seat model -- called, of course, the Smart ForFour -- but it tanked in the marketplace and was promptly pulled.
There are no official details about the new Smart model, but sources speculate the alliance between Mercedes and Renault will be more substantial than the one recently announced between Aston Martin and Toyota, in which the British automaker will provide luxury detailing to the Toyota iQ, but no powertrain upgrades. Rumors about the Smart four-seater include diesel options, as well as plug-in electric technology, stemming from Renault's knowledge of EVs via the aforementioned Nissan partnership. Additional info about the Mercedes/Renault arrangement may be discussed in limited detail by Mercedes' Dieter Zetsche at the upcoming Frankfurt Auto Show.
In other news, Renault is also in talks with American auto dealer Roger Penske, who's currently in the process of purchasing the Saturn brand from General Motors. Not only is Penske interested in having Renault's Korean arm, Samsung, manufacture Saturns in the future (after they stop rolling off the GM line in 2011), but his dealerships may also sell Renault-badged vehicles alongside them. These discussions are very, very preliminary, but we wouldn't be surprised if they firmed up in the near future.
[AutoNews, sub req'd; Autocar]
This story originally appeared at The Car Connection
Audi A7 Four-Door Coupe Coming In Late 2010
Four-door coupes are still a relatively new segment, especially in the mainstream large luxury arena, which the Mercedes-Benz CLS essentially has to itself for now. But Audi has a rival in the works, a sleek yet spacious four-door cruiser called the A7, and it's due in late 2010.
Recent heavy investments in the Neckarsulm plant tip Audi's intent to take the car to production. Cars are expected to start rolling off the assembly line late in 2010, according to a report by Auto Motor und Sport. U.S. buyers can expect to see it on showroom floors early in 2011.
A wide range of powertrains will be offered in the A7, but things will get really interesting for the sporty and hardcore (respectively) S7 and RS7 variants. The S7 is expected to arrive in 2011, while the RS7 will have a two-year lead time before it debuts in 2013.
Everything from diesel-electric hybrids to 600-horsepower V-10s will be found under the hood of the A7 range. The hybrid powertrain used in the A7 is expected to show up first in the Q5 crossover.
A pair of V-6s form the meat and potatoes portion of the lineup, including a 204-horsepower 2.8-liter engine as the base model, with a 3.0-liter supercharged engine rated at 300-horsepower as the first upgrade.
Stepping up to S7 trim will likely bring with it a 4.0-liter, 394-horsepowr V-8, and finally the RS7 will get a 600-horsepower 5.0-liter twin-turbo V-10.
Both six-speed manual and eight-speed automatic gearboxes will be available in the lower-spec models, while a seven-speed dual-clutch unit is also planned for the performance variants.
This story originally appeared at The Car Connection
Clean Tech Investors Open Their Wallets A Little Wider–Especially For The Auto Industry
Hot on the heels of yesterday's news that the auto sales slump may be slowing comes news that venture capitalists are growing more adventuresome--at least in the field of clean technology. And for now, the big winner is the auto industry.
According to the Cleantech Group--a research firm based in San Francisco--94 clean technology outfits in North America, Europe, China, and India garnered nearly $1.2 billion in funds from venture capitalists during the second quarter of 2009. That figure is up about 12% from the first quarter of the year, although it's still 44% lower than the second quarter of 2008. The average funding round was $12.9 million.
Broken out by sector, vehicle concerns topped the charts, earning around $236 million. Included in that group of recipients are T. Boone Pickens and his Monroe, Louisiana-based V-Vehicle Company, as well as Fisker Automotive. Biofuel innovators scored big, too, with $206 million in investments, and advanced battery developers garnered $165 million.
Interestingly, the majority of companies funded--66%--were based in North America. Together, Europe and Israel generated 21%. India received 11% of the pot, and China 1%. Maybe we're biased--especially in light of the coming holiday weekend--but we think that says great things about the environment of innovation that the U.S. (and presumably Canada) foster.
If you've got the time, we've posted the majority of Cleantech's press release below. And if you don't...well, enjoy the holiday.
[Cleantech via BusinessInsider]
* * * * *
Clean technology venture investment rebounds in 2Q09 after two consecutive quarterly declines
$1.2 billion in venture capital invested in clean technology companies, led by electric vehicles and biofuels, while solar investment hits new low
SAN FRANCISCO July 1, 2009 The Cleantech Group, founders of the cleantech sector and providers of leading global market research, events and advisory services for the cleantech ecosystem, along with Deloitte, which provides audit, tax, consulting and financial advisory services to cleantech companies, today released preliminary 2Q09 results for clean technology venture investments in North America, Europe, China and India, totaling $1.2 billion across 94 companies.
Cleantech venture investment rebounded in the second quarter, after having declined significantly in 4Q08 and 1Q09, paralleling declines in other investment sectors amid the global economic downturn. The 2Q09 total is up 12 percent from the previous quarter, although down 44 percent from the same period a year ago. The average round size in 2Q09 was $12.9 million, up from $12.3 million 1Q09.
"Cleantech venture investment has rebounded moderately after free-falling for two consecutive quarters," said Brian Fan, senior director of research, Cleantech Group. "We are seeing initial signs of recovery in other cleantech asset classes, including recent activity in solar tax equity, increased M&A levels, as well as billions in government stimulus that are being allocated globally to the cleantech sector over the next several quarters. Additionally, new climate and energy legislation from governments worldwide and the upcoming Copenhagen climate negotiations continue to be strong drivers of investment and innovation."
"While venture investment in solar is down dramatically, utility investment in cleantech is up. Solar thermal was the leading energy source procured through power purchase agreements in the first half of 2009," said Scott Smith, U.S. leader of Deloitte's Cleantech practice. "New investment tax credits are playing a major role in making new solar thermal, solar PV, and wind projects more economically viable for utilities, which are bringing their access to capital to the sector."
BY TECHNOLOGY SECTOR
The leading sector in the quarter was transportation—specifically, vehicles, biofuels and advanced batteries—reflecting attention on the automotive sector and significant government stimulus. Meanwhile, solar saw its lowest level of investment in over three years, with only $114 million invested, down from a high of $1.2 billion invested in 3Q08, as most investors, whose portfolios contain significant solar holdings, did not increase their exposure. The largest transactions in each technology sector were:
- VEHICLES - $236 million
Deals included San Diego startup V-Vehicle's raise of $100 million to date from Kleiner Perkins Caufield & Byers and T. Boone Pickens to build a fuel-efficient car in Louisiana, EV manufacturer Fisker Automotive, which raised $85 million from Eco-Drive Partners and Kleiner Perkins to fund development and manufacturing of its Karma plug-in hybrid, Norwegian EV startup Think Global which raised $39 million, and Israel's ETV Motors which raised $12 million from Quercus Trust to develop an electric powertrain.- BIOFUELS - $206 million
Deals included agri.capital, a European developer of biogas plants, which raised $82 million from TCW Group and others and renewable oil producer Solazyme, which raised $57 million from Braemar Energy Ventures, Lightspeed Venture Partners and new investor VantagePoint Venture Partners.- ADVANCED BATTERIES - $165 million
Deals included lithium-ion startup A123, which raised a $100 million round led by GE and others, and Deeya Energy, which raised $30 million from Technology Partners and others to develop its redox flow batteries.- SOLAR - $114 million
Deals included Indian solar developer Cobol Technologies, which raised $30 million from Pangea Capital, as well as CSP technology provider Ausra, which raised $25.5 million from Khosla Ventures and Kleiner Perkins, among others. Another CSP company, Stirling-engine dish vendor Infinia, raised $14.1 million in convertible debt, as part of a $50 million planned raise.M&As AND IPOs
Clean technology M&A totaled an estimated 138 transactions in 2Q09, of which totals were disclosed for 40 transactions totaling $12.2 billion. This is up 291 percent from 1Q09, which saw 123 M&A transactions, of which 28 were disclosed for a total of $3.1 billion.Cleantech Group noted two cleantech IPOs in 2Q09: China Metal Recycling began trading on the Hong Kong Futures Exchange, raising $186 million, and Duoyuan Global Water Inc. listed on the NYSE raising $88 million. Another notable transaction was Broadwind Energy's transfer of shares from OTC-BB to the NASDAQ on April 9th.
BY GEOGRAPHY
North America accounted for 66 percent of the total, while Europe and Israel accounted for 21 percent, India for 11 percent, and China for one percent.
- EUROPE: European and Israeli companies raised USD $259 million in 30 disclosed rounds, down 13 percent from 1Q09 and down 17 percent from 2Q08. Energy Generation ($130.5 million, 11 deals) companies received the most investment, followed by Transportation ($51.0 million, 2 deals). The largest deal was German biogas plant developer agri.capital which raised $81.7 million and helped Germany ($95.4 million, two deals) gain the top position in the country rankings in Europe. The UK was second ($55.4 million, 13 deals), and Norway ($39.0 million, one deal) was third, thanks to Think Global's $39 million round, the second largest deal of the quarter.
- CHINA: There were six cleantech VC deals totaling USD $18 million in China. Advanced battery technologies raised USD $10 million to develop lithium-ion batteries. Hunan Joyfly New Material attracted USD $4.3 million to develop environmental friendly materials.
- INDIA: Indian cleantech companies raised USD $131 million in seven investment rounds (of which one deal amount was not disclosed), an increase of 167 percent from the previous quarter and up 161 percent from the same period last year. The largest deal was a USD $42 million round for Hyderabad-based Ramky Enviro Engineers which specializes in recycling and waste. The most active investor was IL&FS (Infrastructure Leasing and Financial Services Limited) which invested in two deals. Other investors in the quarter included Blue Run Ventures, DFJ, Mumbai Angels, New Enterprise Associates (NEA) and Axis Private Equity.
This story originally appeared at The Car Connection
2009 New York Auto Show: Hyundai Nuvis Concept
Hyundai has a new concept for the world--one plugged into the future of gas-electric hybrids.
The Nuvis concept makes its North American debut at the 2009 New York auto show today, though it's leaked all over the Web like an excited puppy. These are the first official photos, along with the surprise shot we got earlier today as Hyundai did a dry run through their press conference.
The Nuvis is a "next-generation crossover" and an expression of a design idea of a "living machine," according to the press release we were sent prior to the concept's unveiling. The large glass areas lend a "floating" feel to the roof, they say, and the details and lighting give the shape a unique flow. Then there are the gullwing doors--impractical for production, but one of those cues design studios use to call out FUTURISTIC without actually using all caps. Inside reside four "business-class seats" and matching Harveys seatbelt-sourced handbags, along with a mobile-techno linkup between the passengers. Hyundai says it's eliminated all mechanical switches in favor of the user interface on the panel. Hyundai design manager John Krsteski spoke breathlessly about it being "taller than a sedan but with rounded lines ... a layered esthetic" and much, much more design-speak that we can barely digest, much less reproduce here.
The drivetrain's the most interesting part of the package, since Hyundai says it wants to best all car manufacturers in fuel economy by 2015. The power for the Nuvis comes from a parallel hybrid system (think Prius, not Volt) coupled to a 2.4-liter four-cylinder and a six-speed automatic. The engine (think 2010 Kia Forte Koup, which we covered earlier today) teams up with the batteries and can be removed from the equation entirely on the road as the Nuvis has an EV all-electric driving mode, like the 2010 Toyota Prius. Regenerative braking helps recharge the batteries, and fuel-saving measures abound, like electric-driven air conditioning.
Could the Nuvis be a forerunner to the next-generation Hyundai Santa Fe, or something smaller? Or is it just future-think? We'll have more on the Nuvis when the press conference concludes. Stay tuned.
This story originally appeared at The Car Connection
Karma S Concept and 2010 Fisker Karma
Last year Fisker Automotive landed a stand right in the thick of things on the main floor of the Detroit show, and created quite a buzz not only with its so-called "sexy green car," the Karma, but with the company's wealth of information about the product and an announced intent to bring it to production in fourth-quarter 2009. What's more, it seemed like genuinely well-funded operation, with venture capital that included Palo Alto Investors and Kleiner Perking Caufield & Byers, a firm that included Al Gore as a partner.
That said, because of the soap-opera-like timeline and sometimes conflicting information that electric-car maker Tesla Motors has subjected us to over the past several years, we were still skeptical.
But here we are, a year later, and it looks like Fisker has its game together. The production version of the Karma, shown here today, sticks with the formula outlined last year but is also joined by a hardtop convertible Karma S, also to be produced after Karma sedan production ramps up, in 2011.
In a press conference at Fisker's stand at the North American International Auto Show, Fisker Automotive CEO Henrik Fisker, the Danish-born former BMW designer, had little to say about the new Karma S convertible, letting the design speak for itself. It's a four-seat convertible (or more like a 2+2), riding on a shortened-wheelbase version of the same platform, and has a power retractable hardtop that stows quickly into a section of the trunk. The color, a pearly lustrous dark red hue called Inferno, helped give the Karma S a sultry appearance.
The sedan gains just a few changes on the outside on the way to production. For instance, the creases on the hood have been brought out a little bit more, and front and rear fascias are different than those on the show car, to expedite cooling and airflow. But nearly all the truly standout design cues of the concept car—including the door handles and solar-panel roof—made it through to the production version.
While the exterior carries through virtually unchanged, the interior is completely new for the production-bound 2010 Fisker Karma. Gone is last year's more glitzy, almost sci-fi-themed look (including the memorably blocky steering wheel design) and in its place is a very distinguished, elegant interior that looks in the vein of Jaguar's dreamy cabins.
What makes the production Karma seda's interior so important is that it stands by its ethics. Accountability and sensuality were the two governing philosohies in designing the Karma—and specifically its interior—and the company went to great lengths to procure materials the went along with the environmental sensibilities of prospective buyers. Three models are available: Eco Standard, Eco Sport, and Eco Chic, with the latter being the most expensive and offering a completely animal-free interior. We'll bring you more on the Karma's detail in an upcoming post.
Unlike Tesla Motors, which has tried to establish its own assembly facilities and control much of the production and sourcing of its components, Fisker is outsourcing to well-established companies—even when it comes to final assembly. The 2010 Fisker Karma is set to be produced by Valmet Automotive, in Finland, and the all-aluminum spaceframe is being made in cooperation with Norsk Hydro. Production begins later this year, with the first U.S. deliveries expected this November.
Granted, a few things have changed about the Karma on the way to production, the range of up to 620 miles of continuous driving that was promised last year in the concept stage has now become about 300 miles from gasoline and electric, starting with a full charge and a full tank. But the production Karma will still use a state-of-the-art, 200 kW lithium-ion battery pack and be able to go up to 60 miles on a single charge, the company says, eliminating the need for many to ever use a drop of gas on the daily commute.
The Karma has announced that it will use GM's 260-horsepower, 2.0-liter turbocharged, direct-injection Ecotec four-cylinder engine—the same one that's used in the Pontiac Solstice and Saturn Sky Red Line and one of our favorite engines in GM's stable. But its responsiveness doesn't really matter. That's because the Fisker is propelled only by an electric motor system, with the gasoline engine set to kick on when the battery's juice is spent. At that time the Ecotec will fire itself up and run at whatever speed is more efficient to provide power directly to the electrics. In another element that's changed since last year, the gas engine won't directly recharge the battery, we're told; the only way the battery actively recoups energy, other than being plugged in, is through regenerative braking.
As before, the Karma promises to handle like a proper sport sedan, with a low, wide stance, the heavy battery pack mounted low and at the center of the vehicle, the Ecotec engine in front, and the electric motor system in back. The twin electric motor system makes 403 horsepower and (959 lb-ft of torque!) altogether and can propel the Karma to 60 mph in 5.8 seconds and to a continuous top speed of 125 mph.
Fisker is standing by its expected yearly volume of 15,000 vehicles, although the first year it may ramp up with about half that. The Karma is set to sell for $87,900, but after a $7,500 federal tax credit it will qualify for, the price will only be $80,400—also delivering on last year's promise of the cost being about $80,000. That's for the Eco Standard. The Eco Sport will list at $94,000 and the Eco Chic at $106,000.
The company has 22 dealers signed up so far and hopes to have 40 nationally by the end of the year when deliveries begin. Fisker says that the Karma is already sold out through mid-2010.
This story originally appeared at The Car Connection
Coming in February: The Auto Moto
Are you an easy-ridin' motorcycle hound stuck in a square-peg, square-hole rut? Want the convenience and fuel-efficiency of a scooter, but concerned about practicalities of living the Vespa lifestyle (including having to hang with other Vespa owners)? Well, perhaps you should consider the new Auto Moto.
At first glance, the Auto Moto looks like a golf cart for supermodels: slim and chic, with a stylin' overhead to keep the rain off the coif. The three wheels give it a bit more heft than your average scooter, but more stability, too--which isn't a bad thing to have when you've got a squirmy rider clutching your ribcage. It even has a little trunk that might hold two helmets and a bottle of Perrier. Picnic time!
On the tech front, the maker claims 83 mpg, which means about 170 miles between fill-ups, given its 2.1 gallon tank. The transmission is automatic, which is especially convenient for first-timers. And despite the Shania Twain-backed demo video, it looks fun to drive. Personally, I wish it could tote more than 350 pounds of people, but then, I'm kinda chunky. And with a package price just under $4,000, I wouldn't mind compromising. Stay tuned for the February 1 launch.--Richard Read
---
Make sure you check out our partner sites dedicated to focused news, reviews and more for Ford, Chevrolet, Toyota, Honda, and the Toyota Prius.
This story originally appeared at The Car Connection
Audi Continues Focus on Worldwide Markets with A4L Launch
Continuing to invest in the worldwide markets that are ensuring its continued growth, Audi debuted its new A4L yesterday in Beijing, China. The vehicle is a 2009 Audi A4 with a wheelbase extended 2.36 inches. Audi says the vehicle is a smart mix of sports sedan and luxury vehicle, and may be "enjoyed as both a driver's car and a chauffeured luxury sedan." The majority of the added wheelbase benefits rear seat comfort.
Powering the A4L will be Audi's 2.0-liter TFSI engine in 180 hp tune, or the firm's 3.2-liter FSI V-6 making 265 hp. The long-wheelbase vehicle will be produced exclusively for the Chinese market, reflecting the unique automotive needs of that market as well as Audi's aggressive push to continue its worldwide sales climb.
Notably, the A4L will be produced in China at an Audi manufacturing facility in Changchun. The new A4, which has sold 200,000 units since its worldwide launch last year, was recently voted "Most Beautiful Car of the Year" by the readers of German automotive magazine Auto Bild.
The A4L will be unveiled publicly tomorrow at the Guangzhou Motor Show, and will be available in Chinese dealerships beginning January 2009.--Colin Mathews
---
Make sure you check out our partner sites dedicated to focused news, reviews and more for Ford, Chevrolet, Toyota, Honda, and the Toyota Prius.
This story originally appeared at The Car Connection
