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Toyota's $1.6B unintended acceleration settlement approved

Toyota is now one step closer to putting its unintended acceleration woes behind it as it has received approval from the US District Court for the Central District of California to settle loss-of-value claims to vehicles associated with the 2009-2010 recalls.
As we reported back in May, the Toyota settlement is worth $1.63 billion, which, according to Bloomberg, includes a payout of $757 million to affected owners, $227 million to attorneys and an additional $875 million for vehicle upgrades. (We did the math, too, and that totals $1.859 billion, but there is no justification for the discrepancy. Fuzzy math, eh?)
Based on the estimated 22.6 million vehicles said to be included in this suit, that would make the average payment about $33.49 per vehicle, but the article says that owners, lessees and even renters will receive varying amounts ranging from $9.74 up to as much as $10,000. This settlement does not affect suits filed for personal injury or wrongful death.

Award-winning Lexus Sport Yacht to get a production successor

Imagine driving along a coastal road in the evening sun, listening to Christopher Cross, Michael McDonald or some other very smooth singer usually associated with the tag "Yacht Rock". Perhaps a Lexus coupe could very well suit that soft rock mental imagery, with "Sailing" playing from its Mark Levinson audio as you cruise down the road in a laid-back fashion. But you could in fact be sailing in a Lexus-branded boat, too. Revealed a year ago, the Lexus Sport Yacht isn't just a badge-engineering job: it was created by Lexus Design, engineered by Toyota's Marine Division and built by the Wisconsin-based boat manufacturer Marquis-Larson Boat Group. The one existing example has just now been honored at the Yokohama International Boat Show, by Japan's Boat of the Year committee. As Toyota's Executive Vice President Shigeki Tomoyama accepted the award, he also announced production plans for a globally sold Lexus Yacht. "Based on our amazing experiences in engineering, building, testing and showing the Lexus Sport Yacht concept last year, we've decided to take the next bold step of producing an all-new larger yacht that builds on the advanced nature of the concept while adding more comfort and living space," Tomoyama said. "We plan to start sales in the U.S. in the latter half of 2019, with sales in Japan following in the spring of 2020." The new, 65-foot yacht will be built in partnership with Marquis-Larson, and more details of it will be revealed later. Related Video:

Recharge Wrap-up: Senators want stronger RFS, Toyota working to improve mobility in Bangkok

A new E15 bill has been introduced to the US House of Representatives. Sponsored by one Democrat and three Republican congressmen, the bill is a companion to the Fuel Choice and Deregulation Act of 2015 recently introduced to the Senate by Rand Paul and Chuck Grassley. The House bill's goal is similar: to remove certain restrictions to help get E15 to the marketplace. This bill also targets the EPA and its rules regarding the Reid Vapor Pressure of the ethanol blend. Read more in from Domestic Fuel. A bipartisan group of 37 senators is urging the EPA to strengthen the Renewable Fuel Standard. Stated reasons tend to focus on economics and energy security, but also on the future of other alternative fuels. The RFS "has strengthened agriculture markets and created hundreds of thousands of jobs in the new energy economy, many of which are in rural areas," the senators say in a letter to the EPA. "A stable RFS will also provide the certainty needed to unlock future investments in renewable fuels and necessary infrastructure, reduce our nation's dependence on foreign sources of energy, and drive innovation and progress toward cellulosic, biodiesel, recycled-waste, algal, and other advanced biofuels." See the full letter at Senator Chuck Grassley's website, and read more at Domestic Fuel. The Toyota Mobility Foundation has launched a pilot program in Bangkok, Thailand. In partnership with Chulalongkorn University, Toyota's program aims to help "people move, grow and explore in a world that is comfortable, safe and clean," says Toyota President Akio Toyoda (traditional rickshaws are pictured above). The program will focus on reducing congestion by creating sustainable shuttle and park and ride services, encouraging people to use multiple modes of transportation, use traffic simulation models to pinpoint particular problem areas and work with police to optimize traffic signals. The Bangkok project is expected to last a year and a half, ending in December 2016. Read more in the press release below. Realizing the Future of Mobility: Toyota Mobility Foundation Launches First Pilot Program in Thailand Program Supports Foundation's Global Mission to Advance Solutions for a More Mobile Society Tokyo, Japan (April 22, 2015) - More people everywhere are about to get moving. Toyota Mobility Foundation (TMF) today announced that it is launching its first pilot program.