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Recharge Wrap-up: Long Beach ePrix, London's new electric buses

London will put 51 new electric buses into service. With the addition of these buses, two more routes (in addition to one already in operation) will be all-electric. Transport for London plans to have all of central London's 300 single-decker buses running on electricity or hydrogen by 2020. "The expansion of London's electric bus fleet demonstrates our commitment to reducing emissions from public transport in London," says Deputy Mayor of London for Environment and Energy, Matthew Pencharz. "The Ultra Low Emission Zone that will be introduced in 2020 is the most ambitious measure of its kind taken to tackle air pollution anywhere in the world, and it will transform our bus fleet into a cleaner, greener and more pleasant way of travelling for Londoners." Read more from Transport for London, and from Green Car Congress. The Chevrolet Volt is subject to a tie-rod recall. Along with 10 Cruze vehicles, one 2015 Volt has been recalled because of a tie rod that might not have been tightened to the steering gear correctly, which could lead to a loss of steering control. Chevrolet will replace the steering gear assembly, supplied by Robert Bosch Automotive Steering, for free. There have been no reported injuries from this issue. Read more at Detroit News. The Formula E Long Beach ePrix will take place on April 2, 2016. For the second season of the electric racing series, Long Beach is the only confirmed US host, as the spot on the calendar previously held by Miami still remains to be determined. More than 20,000 fans attended the inaugural Long Beach ePrix earlier this year, where Nelson Piquet, Jr. took first place before going on to win the Drivers' Championship. "It's extremely exciting to welcome the ePrix back to Long Beach for a second year," says Long Beach Mayor Robert Garcia, "and we are hopeful that this demonstration of innovation, sustainability, and cutting edge technology will return to our city year after year." Read more in the press release below. Related Video: LONG BEACH ePRIX TO RETURN APRIL 2, 2016 (July 14, 2015) – The Long Beach ePrix will return to the city streets on Saturday, April 2, 2016. The FIA (Federation Internationale de l'Automobile) World Motor Sport Council recently approved the calendar for the second season of the FIA Formula E Championship, with Long Beach scheduled as the sixth of 11 rounds in the series. Overall, 10 venues will host Formula E events, with the 2015-16 season beginning once again in Beijing on Oct. 17.

Chevy previews 2016 Malibu ahead of New York debut

With everything going on in Geneva this week, it would be all-too easy to forget that there's still stuff going on back home in America. And the upcoming new Chevy Malibu is a prime example. Chevrolet has announced that it is bringing an all-new Malibu to the New York Auto Show next month, teasing us with this preview image and a few enticing details. For starters, when we say it's all new, this time we mean it's all new. The next-generation Malibu has been built on a new platform that uses more high-strength steel to cut 300 pounds off the curb weight compared to the outgoing model. It's also got a wheelbase that's almost four inches longer, with shorter overhangs front and rear and a roofline that tapers stylishly and more gradually towards the tail. We'll have to wait a little longer – but not too much longer – to find out more, but in the meantime you can read what Chevy's telling us so far in the press release below. Born Again: Next-Gen Chevrolet Malibu Announced Larger, lighter and more efficient Malibu to be unveiled at New York Auto Show 2015-03-04 DETROIT – Designed to deliver more efficiency, connectivity and advanced safety features than ever, the next-generation 2016 Chevrolet Malibu will make its public debut at the New York International Auto Show this April. Using a blank slate approach, Chevrolet designers benefited from an entirely new architecture, which for Malibu includes a wheelbase nearly four inches longer than the outgoing model. That, in turn, provides increased rear legroom and interior space. Due to a higher-strength steel structure, the new Malibu is also expected to be 300 pounds lighter than the current model, which benefits the sedan's fuel economy and handling. "Malibu's gorgeous styling is the result of a masterful understanding of proportions," said Ed Welburn, General Motors' vice president of Global Design. "The roofline has been stretched rearward giving a more sleek profile, while the front wheels have moved forward and front and rear overhangs have been reduced. Along with the sculpted body side, these cues help Malibu appear more dynamic and sophisticated." More details about the 2016 Chevrolet Malibu will be shared each week leading up to the vehicle's global debut. The 2016 Malibu is expected to go on sale by the end of 2015. Founded in 1911 in Detroit, Chevrolet is now one of the world's largest car brands, doing business in more than 115 countries and selling around 4.8 million cars and trucks a year.

Frustrated GM investors ask what more Mary Barra can do

DETROIT — General Motors Co Chief Executive Mary Barra has transformed the No. 1 U.S. automaker in her almost five years in charge, but that is still not enough to satisfy investors. Ahead of third-quarter results due on Oct. 31, GM shares are trading about 6 percent below the $33 per share price at which they launched in 2010 in a post-bankruptcy initial public offering. The Detroit carmaker's stock is down 22 percent since Barra took over in January 2014. After hitting an all-time high of $46.48 on Oct. 24, 2017, the shares have declined 33 percent. In the same period, the Standard & Poor's 500 index has climbed 7.8 percent. Several shareholders contacted by Reuters said GM could face a third major action by activist shareholders in less than four years if the share price does not improve. "I've been expecting it," said John Levin, chairman of Levin Capital Strategies. "It just seems a tempting morsel to somebody." Levin's firm owns more than seven million GM shares. Barra has guided the company through the settlement of a federal criminal probe of a mishandled safety recall, sold off money-losing European operations, and returned $25 billion to shareholders through dividends and stock buybacks from 2012 through 2017. GM declined to comment for this story, but the company's executives privately express frustration with the market's reluctance to see it as anything more than a manufacturer tied mainly to auto market sales cycles. GM's profitable North American truck and SUV business and its money-making China operations are valued at just $14 billion, excluding the value of GM's stake in its $14.6 billion Cruise automated vehicle business and its cash reserves from its $44 billion market capitalization. The recent slump in the Chinese market, GM's largest, and plateauing U.S. demand are ratcheting up the pressure. GM is one of the few global automakers without a founding family or a government to serve as a bulwark against corporate raiders. In 2015, a group led by investor Harry Wilson pressed GM to launch a $5 billion share buyback, and commit to what is now an $18 billion ceiling on the level of cash the company would hold. In 2017, GM fended off a call by hedge fund manager David Einhorn to split its common stock shares into two classes. Einhorn, whose firm still owned more than 21 million shares at the end of June, declined to comment about GM's stock price. Other investors said there were no clear alternatives to Barra's approach.