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VW orders external probe into diesel emission scandal

There are well over 480,000 Volkswagen-made, diesel-powered vehicles currently traveling roads in the United States that do not meet the Environmental Protection Agency's emissions requirements. This, as you can probably imagine, is a very big deal, and has led VW CEO Professor Doctor Martin Winterkorn to release an official statement on the matter. "I personally am deeply sorry that we have broken the trust of our customers and the public," he said. It's important to note that these vehicles run software with a so-called "defeat device" that kicks in when the on-board computer senses that it is being tested for emissions. When the car is operating normally – in other words, when its exhaust isn't being sniffed – the cars do not meet US emissions standards. According to the EPA and the California Air Resources Board, affected cars emit as much as 40 times the allowable level of certain pollutants. "We will cooperate fully with the responsible agencies, with transparency and urgency, to clearly, openly, and completely establish all of the facts of this case," according to Winterkorn, who added, "Volkswagen has ordered an external investigation of this matter." It's not yet known who will carry out this investigation. At present, there are still a number of 2015 Volkswagen models on dealer lots that do not meet emissions requirements. VW has issued a stop sale on vehicles equipped with the 2.0-liter TDI diesel engine. What's more, the German automaker has been barred from selling 2016 model-year vehicles that use this engine, according to The Detroit News. Last year, diesel vehicles made up about 22 percent of all VW sales, which means these restrictions will have a big impact on the brand's sales performance until a remedy is found and the vehicles are approved for sale. Interestingly, the EPA has started a campaign of sorts to test vehicles from other automakers that sell diesel-powered vehicles in the United States to make sure they comply with emissions requirements under all operating circumstances. The EPA says it "will be reviewing [its] compliance protocols and introducing ways in which [it] can effectively test not only for emissions performance but also for the potential presence of defeat devices," according to a statement provided to The Detroit News. Check out the full statement from VW CEO Martin Winterkorn below. Related Video: STATEMENT OF PROF. DR.

Recharge Wrap-up: Air Liquide buys Airgas, Audi automated parking in Boston

Air Liquide will buy US competitor Airgas for $13.4 billion. The Paris-based industrial gases company — also a major producer of hydrogen gas — will pay $143 per share in the acquisition of Airgas. The deal could help Air Liquide surpass German rival Linde as the world's top industrial gases company. "The US is a very attractive gas market, it's the largest industrial gas market worldwide," says Air Liquide CEO Benoit Potier. "It's the fastest growing market among advanced economies." Read more from Bloomberg. The US Department of Energy (DOE) will announce a new funding opportunity for hydrogen and fuel cell technology. Expected to be worth up to $35 million, the funding will focus particularly on the research, development and demonstration of technology for light duty passenger vehicles with the goal of reducing greenhouse gas emissions and petroleum consumption. This includes hydrogen production, delivery and storage, as well as fuel cell technologies, manufacturing and analysis. The DOE expects to issue the Funding Opportunity Announcement around December 10. Read more at Green Car Congress. Audi will bring network infrastructure and automated parking to the Boston area. In an agreement with the city of Somerville, Massachusetts, Audi will work to improve traffic flow and increase the efficiency of space used for parking. As the city continues to develop, Audi's automated parking project will help decrease the amount of land needed to park cars, and the extra space can be used for more important real estate. Also, an intelligent traffic management project connecting cars to traffic lights can help reduce congestion. Read more in the press release below. Audi brings automated parking to the Boston area November 17, 2015 | INGOLSTADT/BARCELONA • Memorandum of Understanding between Audi and the US city of Somerville • Urban innovations – networking with traffic lights and automated parking • Real-estate developers save space and money thanks to self-parking cars Audi and the city of Somerville, Massachusetts, are planning joint innovations for the city of the future on the east coast of the USA. Audi CEO Rupert Stadler and Mayor Joseph A. Curtatone signed a Memorandum of Understanding in the context of the Smart City Expo World Congress in Barcelona. They agreed to develop an urban strategy for Somerville, applying technologies for swarm intelligence or automated parking, and networking cars with traffic lights.

Volkswagen may 'carve out' Lamborghini to list on the stock exchange

FRANKFURT — Volkswagen is drawing up plans to set up Lamborghini as a more independent unit, and is discussing long-term supply deals that could make it easier to list it on the stock exchange, two sources familiar with the matter told Reuters. "Volkswagen is in the process of carving out Lamborghini, and to organize future supply and technology transfer deals," one of the sources familiar with the matter told Reuters. The Italian sportscar brand, which is currently a division of Audi, could be partially listed, with Volkswagen retaining a controlling stake, the first person familiar with the talks said. There is no formal decision to divest Lamborghini, a second source said, adding that the timetable of any deal remained unclear. "This is a first step which gives VW the option to list the unit further down the line," the second source told Reuters. A third source familiar with the discussions said the future of Bugatti, Lamborghini and Ducati was discussed during a supervisory board meeting last Friday. The possibilities for how to electrify the Lamborghini and Bugatti brands through partnerships and investors was discussed, the third source said. Bankers and potential cornerstone investors in an IPO have been approached by the carmaker, the sources said. Volkswagen declined to comment. Volkswagen Group's Chief Executive Herbert Diess on Wednesday said the carmaker will announce "important steps" about the company's future before the close of the year. Volkswagen is reviewing what role its high-performance brands Lamborghini, Bugatti and Ducati will play within the multi-brand carmaker as part of broader quest for more economies of scale, senior executives told Reuters. A global clampdown on combustion-engined vehicles has forced carmakers to accelerate development of low-emission technology for mainstream models, leaving Volkswagen managers struggling to find resources to electrify low volume sportscar models. Related Video: