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Recharge Wrap-Up: Tesla, CarCharging and the EPA

Credit Suisse analysts are bullish on Tesla. The group gives the electric car company's stock an "outperform" rating with a target price of $325. For its continued success, Credit Suisse cites the vehicles' superior technology, in turn offering more torque, roominess and reliability. Says analyst Dan Galves said of Tesla's competition with ICEs, "If Tesla can get to cost-parity with Internal Combustion vehicles and still offer $1,400 to $2,500 per year fuel savings to the consumer, it won't be a fair fight." Read more at Yahoo Finance or at Business Insider. In other Tesla news, Tesla Model S owners will be able to unlock and start their car using an iPhone. The Tesla app is adding this functionality soon, perhaps with the update to iOS 8. It's not yet clear how this function will work, but it's one more innovative convenience feature that Model S owners can enjoy. That means drivers will have less to carry in their pockets or purses when they go for a drive. Read more at 9 to 5 Mac. CarCharging Group has remotely lowered the amperage on some of its residential users' Blink charging stations to 24 amps. This will slow down the charging time for affected customers with 6.6-kilowatt charging by about 15 percent. The company cited safety reasons for the move, with concerns about overheating. The amperage reduction is temporary, until CarCharging is able to provide replacement parts for the chargers. Some are concerned about the delayed action, as well as the fact that the reduction was handled without owner permission. Read more at Plugin Cars. Ford is halting test drives and sales of certain C-Max hybrid and Focus models due to a safety concern. Cars made during a single week this month at a Michigan factory may not have enough ball bearings in the steering gear assembly, which could lead to loss of control. None of the affected cars have been sold, Ford says, and about 50 units are currently at dealerships. Just over 600 will need to be recalled. Dealerships have been notified of the problem. Read more at Reuters and the The Detroit News. A new EPA report shows that urban air in the US is becoming less toxic since the Clean Air Act Amendments of 1990. The report shows a 66-percent reduction in benzene, almost 60 percent reduction in mercury from man-made sources, 84 percent less lead and more.

VW of America boss Horn was aware of diesel cheat 18 months ago

We're just going to make a prediction: Volkswagen of America boss Michael Horn's congressional testimony, slated to begin today, is not going to go well. Based on a written testimony submitted by Horn, the exec is expected to tell Congress he knew his company was violating emissions regulations at least 18 months before it actually came clean. "In the spring of 2014... I was told that there was a possible emissions non-compliance that could be remedied," Horn wrote, in testimony published on the US House of Representatives' website (PDF warning). "I was informed that EPA regulations included various penalties for non-compliance with the emissions standards and that the agencies can conduct engineering tests which could include 'defeat device' testing or analysis. I was also informed that the company engineers would work with the agencies to resolve the issue." Horn's written testimony went on to outline how the company will "develop a remedy for our customers." It includes five points, ranging from the "world-wide investigation" being conducted by the company to reassurances that VW's engineers are "working tirelessly" on fixes to the four-cylinder diesel problems. Horn went on to confirm that each generation of the affected diesel – there are three – will require its own distinct fix. Finally, Horn went on to say that the company will "examine our compliance, processes, and standards" to prevent a repeat of the diesel catastrophe, while promising "open communication with our customers, dealers, employees, and the public as we move forward." We've included Horn's complete, three-page written testimony below. Have a look. Testimony of Michael Horn, President and CEO of Volkswagen Group of America, Inc. Before the House Committee on Energy and Commerce Subcommittee on Oversight and Investigations October 8, 2015 Chairman Upton, Chairman Murphy, Ranking Member Pallone, Ranking Member DeGette, other Members of the Committee, thank you for inviting me to testify before the Committee today. My name is Michael Horn, and I am the President and CEO of Volkswagen Group of America, a subsidiary of Volkswagen AG, headquartered in Wolfsburg, Germany. I have volunteered to come before this Committee at the very outset of these inquiries in an effort to show our commitment to cooperation. We have not had the opportunity to review all aspects of this matter, indeed the investigation is just beginning.

Volkswagen reveals Beetle GSR, R-Line convertible and two special GTIs

Volkswagen has chosen to really expand its performance-tuned portfolio at this year's Chicago Auto Show, bringing along a couple of new Beetles destined for model year 2014, as well as a pair of freshened GTI packages that you'll be able to buy almost right away.
The first, and splashiest of the Chicago goodies on the VW stand has got to be the 2014 Volkswagen Beetle GSR. Don't lose your temper, Acura Integra geeks; in this case, GSR stands for "Gelb Schwarzer Renner" or "Yellow Black Racer," and harkens back to a sport-tuned classic Beetle from the 1970s. For the 2014 iteration, the GSR gets a 210-horsepower version of VW's 2.0-liter turbo four-cylinder. That engine is enough to push the Beetle to 60 miles per hour in 6.6 seconds, and up to a top speed of 130 mph.
Of course, you'll have long-since noticed the shockingly yellow-and-black livery before you stumble across the Turbo badge on the rear deck. The GSR gets 19-inch alloy wheels, 235-section tires and a tea-tray rear spoiler, but it's the paint and graphics package that will decide if this is your (lemony) cup of tea. Things don't get any subtler inside the car, either, as VW has carried the colorway through to the interior, as well. Only 3,500 Beetle GSRs will be produced, with just more than half of those going to the US - call your dealer today, Wiz Khalifa.