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Recharge Wrap-up: Volkswagen Sustainability Council meets, Zee.Aero flying car spotted?

The Volkswagen Sustainability Council held its inaugural meeting in Berlin. Made up of nine international experts, the council will advise VW and take action on its own as it sees fit. In the meeting, the council decided that in 2017 it will focus on tackling CO2 emissions, planning for post-2025 regulations, and assisting the automaker's "transformation from car manufacturer to mobility services provider," as VW Chairman Matthias Muller puts it. Volkswagen has approved 20 million euros (about $21.75 million) in funding for Sustainability Council projects for its first two years. "We are fully aware of the large transformation that lays ahead Volkswagen Group," says George Kell, Sustainability Council Chair and Founding Director of UN Global Compact. "We were invited to be part of this journey and are very much looking forward on being actively involved in the development of this journey." Read more at Green Car Congress, or from Volkswagen. Honda plans to ramp up its share of hybrids sold in the US. In response to increasingly strict emissions standards, the company wants electrified vehicles (including hybrid, plug-in hybrid, battery electric, and fuel cell vehicles) to make up two-thirds of Honda and Acura sales in US by 2030. Some analysts are skeptical, though. Christopher Richter of CLSA Asia-Pacific Markets says that dealers are telling Honda they don't want hybrids. "Unless there's a change in what dealers want, I don't think they are going to get there that fast," Richter says. Read more at Automotive News. Witnesses report spotting what could possibly be the Zee.Aero electric aircraft at Hollister Airport in California. Zee.Aero, a startup funded by Google cofounder Larry Page, has a hangar at that airport, where a photo was taken of the aircraft in question. The craft is said to be capable of vertical takeoff and landing and can fit in a one-car garage, earning it the "flying car" moniker. Eyewitness Saul Gomez described the aircraft as "quiet" and "hovering 20, 25 feet off the ground." Read more at Electrek, and watch the interview at Mercury News. Related Gallery 2017 Honda Accord Hybrid: First Drive View 26 Photos News Source: Green Car Congress, Volkswagen, Automotive News, Electrek, Mercury NewsImage Credit: Copyright 2016 Sebastian Blanco / AOL Auto News Green Acura Honda Volkswagen Green Automakers Electric Hybrid recharge wrapup

Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

Carmakers say they 'can't meet' Euro 6 emissions targets

UPDATE: A previous version of this story listed Euro 6 requirements in kilograms per kilometer. This was incorrect. The correct unit is grams of NOx per kilometer, or g/km. The story has been edited accordingly. Well, the timing of this is not good. In the midst of Volkswagen's emissions cheating scandal, the European Automobile Manufacturers Association (ACEA) is claiming it won't be able to hit the stringent Euro 6 nitrogen oxide standards currently slated for the end of the decade. Currently, European legislators are set to begin requiring tougher emissions standards by 2017. Standards would be ramped up until 2020, when all new cars sold across the pond would be required to emit just 0.080 kilograms of nitrogen oxide per kilometer. That's too tough for automakers, though. Citing an "EU insider," AutoExpress reports that automakers are asking for conformity factors, which is a fancy way of saying they want easier standards. The automakers are requesting a conformity factor of 2.75 from 2017 to 2020, and a factor of 1.7 in 2020. What that means is that by 2020, new diesels would be allowed to emit 1.7 times the 0.080 g/km standard, or 0.136 g/km. While that might not be all that bad, if automakers were granted the 2.75 conformity factor, new diesels from 2017 wouldn't even be eligible for today's Euro 5 classification, AE claims. Far and away the most astonishing thing here though, is the way the ACEA is viewing the VW diesel scandal. According to AE, the EU insider said automakers across the pond think there's "a US conspiracy against European diesels." Yep. Volkswagen installed software on millions of vehicles to cheat emissions tests and it's somehow an American conspiracy. That makes loads of sense. To put it simply, automakers don't think their diesels will be able to hit European standards, so they're asking for a break. Whether European legislators go along with it remains to be seen. Related Video: