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VW CFO Hans Dieter Potsch nominated as new board chairman

The search for a successor to Ferdinand Piech has come to an end as the Volkswagen Group has nominated a new chairman. The Executive and Nomination committees of VW's Supervisory Board have put their weight behind one Hans Dieter Potsch, who currently serves on the company's management board as its chief financial officer. He's expected to continue in his current role until November when an extraordinary general meeting of the supervisory board can be called to confirm his nomination and a replacement CFO can be found to take his place. As you may recall, the chairmanship of the Volkswagen board fell until recently to Ferdinand Piech, grandson of Ferdinand Porsche and one of the principals of the Porsche family that holds over 50 percent ownership in Volkswagen through Porsche Automobil Holding SE. Piech went head to head with VW CEO Martin Winterkorn and ultimately lost. Piech resigned and Winterkorn is about to have his term as chief executive extended through the end of 2018. In Piech's place, former union head Berthold Huber was named as interim chairman, but is now referred to in the statement below once again as deputy chairman instead. An Austrian native, Potsch is an industrial engineer by training. He started his career at BMW where he ultimately served as group controller, and subsequently served as CFO and as chairman at a number of German corporations. Potsch joined the VW management board in 2003, initially without portfolio, and soon assumed the financial portfolio – a role he has held until now. In 2009 he took on the additional role of chief financial officer at the Porsche holding company, whose supervisory board representatives are the parties proposing Potsch's nomination as the group's new chairman – even though he is not, strictly speaking, one of their own. In a related development, it appears that Julia Kuhn-Piech will be leaving her board seat sooner than expected. The departing chairman Ferdinand Piech opposed his niece's nomination to the board in his place, and now she'll apparently be stepping down to make way for the family's new choice of chairman.

Recharge Wrap-up: Toyota Prius airbag recall, Peugeot launches eU01s e-bike

Toyota is recalling 7,600 Prius vehicles for an airbag issue. Certain examples of the 2016 Prius could have malfunctioning inflators that could cause the passenger side airbags to deploy accidentally. There are no known injuries from the faulty airbags, but Toyota says, "This has been observed when the vehicle is parked and unoccupied for a period of time." Toyota also says this issue is unrelated to the massive recall of airbags supplied by Takata. The automaker will contact affected owners to arrange free repairs. Read more at Automotive News. Peugeot is adding another e-bike to its portfolio with the eU01s. What sets this electrically assisted bicycle apart from both regular bikes and other pedelecs is its ability to propel the bike to 28 mph under electric power. It comes with either a 400- or 500-Wh lithium-ion battery, providing 47 or 59 miles of range, respectively. It also offers an optional on-board computer with its 4.3-inch screen, through which riders can customize the electric assistance, get directions, receive sports coaching, and connect their smartphone. Earlier this year, Peugeot also launched its e-Kick scooter and folding eF01 e-bike. Read more at Green Car Congress. BYD is expanding its manufacturing facility in the US. In the second of three phases for the plant, BYD is adding onto its factory in Lancaster, California, where it currently builds electric buses. The Chinese company plans to triple the number of employees, up from the current 400, as it expands the facility by 40,000 square feet. BYD plans to build medium- and heavy-duty trucks at the plant, but declined to comment on whether it has plans to build light-duty vehicles there. Read more at Automotive News. The German states of Hesse and Baden-Wuerttemberg are suing Volkswagen over the Dieselgate scandal. The states are joining other investors seeking damages over losses incurred because of the automaker's emissions cheat device. Hesse Finance Minister Thomas Schaefer said the scandal cost the state about $4.4 million in stock losses, while Baden-Wuerttemberg likely lost closer to $450,000. Bavaria said earlier that it would sue Volkswagen on behalf of its pension fund for civil servants, which lost around $780,000. Read more from Automotive News Europe.

Audi's CEO might not have known of VW emissions scheme

There's been no shortage of finger-pointing when it comes to finding people to blame for the Volkswagen diesel-emissions scandal that broke last September. One rather powerful executive, however, appears to have escaped blame. That would be Audi CEO Rupert Stadler, whose company sold about 85,000 diesel vehicles with emissions-cheating software, Reuters says, citing people familiar with the process. US law firm Jones Day questioned executives at both VW and its Audi unit and has found no evidence that Stadler was complicit with the plan, which involved programming Volkswagen-made diesel engines to produce artificially low emissions when the vehicle was being smog-tested. In Audi's case, the engine type in question was the 3.0-liter V6 diesel. Officials with both VW and its Audi unit declined to comment, according to Reuters. That engine was used for the Audi A6, A7, A8, Q5, and Q7 since the 2009 model year, in addition to the VW Touareg and Porsche Cayenne. Audi also sold the VW Group 2.0-liter four-cylinder in the A3 from 2010 to 2013 and 2015. VW has reached an agreement with US regulators concerning that engine, which is also not connected to Stadler. Last month, German newspaper Bild am Sonntag published specifics on how the 3.0-liter diesel cheated the emissions-testing process, including records that the motor was programmed to shut of its emissions-control equipment after 22 minutes of running, or about two minutes longer than typical emissions-compliance testing. Audi said last November that it would work on a software update for the V6's emissions-control system that would be submitted to both the California Air Resources Board (CARB) and the Environmental Protection Agency (EPA), but the VW unit hasn't reached any settlement with US regulators implying that a solution was agreed upon. Volkswagen's settlement with the EPA will cost Europe's largest automaker as much as $15 billion in the form of buybacks, lease buyouts, vehicle repairs, and investments in zero-emissions technology. VW sold about a half-million vehicles in the US that contained the so-called "cheat" software. Related Video: News Source: Reuters Government/Legal Green Audi Volkswagen Diesel Vehicles vw diesel scandal scandal Rupert Stadler