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China sticking to its guns on EVs for the future

Automakers are obviously free to develop whatever next-gen, zero-emissions tech that they want. However, if a company wants to get on the good side of the Chinese government, that strategy better include some plug-in vehicles. The authorities there are lending major support to plug-ins at the moment, and its forcing the auto industry to play along. According to Bloomberg, Toyota, Volkswagen, Hyundai, and BMW are all launching dedicated EV brands with their joint venture partners, and as many as 40 electric models could hit the Chinese market this year alone. However, analysts don't think the vehicles are going to sell well. Instead, the launches are essentially a way for companies to play nice with the government and help get the approval to build factories in the country. Take Toyota as an example. The company is pushing the future of hydrogen hard with promotional films for the Mirai and engineers talking down fast-charging EVs. Still, the Japanese automaker is getting ready to launch two EV brands in China with its joint venture partners, according to Bloomberg. China's push for alternative fuels has been happening for a while, but it really kicked into high gear last year. The government has set a goal to improve fleet-wide economy by 40 percent by the end of the decade in order to spend less importing oil and for the population's health. The plan has shown some success so far with hybrid and EV sales growing early in 2015. Related Video: News Source: BloombergImage Credit: Kin Cheung / AP Photo Government/Legal Green BMW Hyundai Toyota Volkswagen Green Culture Technology Electric tax incentives chinese government

Full-size trucks are the best and worst vehicles in America

You don’t need me to tell you that Americans love pickup trucks. And the bigger the truck, the more likely it seems to be seen as an object of desire. Monthly and yearly sales charts are something of a broken record; track one is the Ford F-Series, followed by the Chevy Silverado, RamÂ’s line of haulers, and somewhere not far down the line, the GMC Sierra. The big Japanese players fall in place a bit further below — not that thereÂ’s anything wrong with a hundred thousand Toyota Tundra sales — and one-size-smaller trucks like the Toyota Tacoma, Ford Ranger and Chevy Colorado have proven awfully popular, too. Along with their sales numbers, the average cost of new trucks has similarly been on the rise. Now, I donÂ’t pretend to have the right to tell people what they should or shouldnÂ’t buy with their own money. But I just canÂ’t wrap my head around why a growing number of Americans are choosing to spend huge sums of money on super luxurious pickup trucks. Let me first say I do understand the appeal. People like nice things, after all. I know I do. I myself am willing to spend way more than the average American on all sorts of discretionary things, from wine and liquor to cameras and lenses. IÂ’ve even spent my own money on vehicles that I donÂ’t need but want anyway. A certain vintage VW camper van certainly qualifies. I also currently own a big, inefficient SUV with a 454-cubic-inch big block V8. So if your answer to the question IÂ’m posing here is that youÂ’re willing to pay the better part of a hundred grand on a chromed-out and leather-lined pickup simply because you want to, then by all means — not that you need my permission — go buy one. The part I donÂ’t understand is this: Why wouldn't you, as a rational person, rather split your garage in half? On one side would sit a nice car that is quiet, rides and handles equally well and gets above average fuel mileage. Maybe it has a few hundred gasoline-fueled horsepower, or heck, maybe itÂ’s electric. On the other side (or even outside) is parked a decent pickup truck. One that can tow 10,000 pounds, haul something near a ton in the bed, and has all the goodies most Americans want in their cars, like cruise control, power windows and locks, keyless entry, and a decent infotainment screen.

Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.