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Defying Trump, major automakers finalize California emissions deal

WASHINGTON — The California Air Resources Board (CARB) and major automakers on Monday confirmed they had finalized binding agreements to cut vehicle emissions in the state, defying the Trump administration's push for weaker curbs on tailpipe pollution. The agreements with carmakers Ford Motor Co, Volkswagen AG, Honda Motor Co and BMW AG were first announced in July 2019 as voluntary measures prompting anger from U.S. President Donald Trump. A month later, the Justice Department opened an antitrust probe into the agreements. The government ended the investigation without action. The Trump administration in March finalized a rollback of U.S. vehicle emissions standards to require 1.5% annual increases in efficiency through 2026. That is far weaker than the 5% annual increases in the discarded rules adopted under President Barack Obama. The 50-page California agreements, which extend through 2026, are less onerous than the standards finalized by the Obama administration but tougher than the Trump administration standards. The automakers have also agreed to electric vehicle commitments. Volvo Cars, owned by China's Geely Holdings, said in March it planned to join the automakers agreeing to the California requirements. It has also finalized its agreement. The settlement agreements say California and automakers agreed to resolve "potential legal disputes concerning the authority of CARB" and other states that have adopted California's standards. In May, a group of 23 U.S. states led by California and some major cities, challenged the Trump vehicle emissions rule. Other major automakers like General Motors Co, Fiat Chrysler Automobiles NV and Toyota Motor Corp did not join the California agreement. Those companies also sided with the Trump administration in a separate lawsuit over whether the federal government can strip California of the right to set zero emission vehicle requirements. Ford said the "final agreement will reduce emissions in our vehicles at a more stringent rate, support and incentivize the production of electrified products, and create regulatory certainty." BMW said "by setting these long-term, predictable, and achievable standards, we have the regulatory certainty that is necessary for long-term planning that will not only reduce greenhouse gas emissions but ultimately benefit consumers as well." 

Recharge Wrap Up: VW's Last Mile Surfer, Apple's BMW i3

Volkswagen has unveiled its Last Mile Surfer. This little electric scooter – it folds up small enough to fit in the trunk and weighs just 24 pounds – will go on sale next year for around 1,000 euros ($1,100 US), according to VW chairman Martin Winterkorn, as reported by Autocar. Of course, we're wondering why you'd need to pay that much money to avoid walking a mile, but maybe we just haven't walked that far in an interested buyer's shoes. See more at Autocar. Did Apple want to use the BMW i3 as the basis for its own electric car? That's the word from the German magazine Manager, which says that Apple and BMW were talking about using the i3 shell for the plug-in iCar (or whatever) started last fall but are no longer actively taking place, but the two organizations have not totally closed off communication. Read more at Manager or at Green Car Reports. BMW is continuing its efforts to connect your car to your phone in interesting ways with the new EnLighten app. The idea here is to let your phone act as a bridge between alerts about traffic signals and the car, so that notifications can be displayed in the dash instead of on your phone. That should keep more eyes on the road and let drivers minimize those races to the next red light, which will save fuel. At least, it will do so in cities that broadcast that sort of signal information. Read more in the press release below. Traffic City Info Makes Driving in Cities Easier than Ever Woodcliff Lake, N.J. – July 27, 2015... The BMW Group announced today that it is the first manufacturer to bring the EnLighten App, by Connected Signals, into the car. Drivers of BMW Vehicles with iOS Devices will be able to see traffic signal data on the vehicle's display in real time. The EnLighten app makes driving in cities easier by helping the driver anticipate traffic signal changes, which can increase safety and help save fuel by avoiding unnecessary acceleration. The EnLighten app shows the current status of the traffic light in front of the car in real time as well as a countdown to when the signal will change. Based on the current vehicle position, as well as its speed, the EnLighten app offers a recommendation about whether or not to stop for the traffic light or proceed through. An audio alert notifies the driver about a pending change in the signal they are approaching.

Lamborghini has been developing an IPO strategy 'for a long time'

Porsche AG isn’t the only Volkswagen AG brand that has been quietly preparing for a potential initial public offering. Italian luxury-car maker Lamborghini has been developing a strategy how to present itself to stock-market investors since well before Volkswagen asked each of its brands to come up with virtual equity stories, according to the unitÂ’s Chief Executive Officer Stephan Winkelmann. “WeÂ’ve been working on this with other agencies in order to create clarity,” Winkelmann said. “As a brand, weÂ’ve done so for a long time, to show what worth, what value we have. Up until a little while ago, it wasnÂ’t so well known.” Porsche became EuropeÂ’s most valuable automaker last month, when its market capitalization overtook that of VW a week after its IPO in Frankfurt. The debut of the 911 maker was a bold move into public markets, which have been largely shut for most of the year. VW CEO Oliver Blume has said he sees the listing as a blueprint to unlock more value from the groupÂ’s brands that also include Audi and Bentley. “An IPO drill is exactly what you do to show the public how solid you are and what is in progress for the future,” Winkelmann said. “We have a clear story and strategy for that.” Audi, which oversees VWÂ’s premium brands, said last month there are no concrete plans for an IPO of Lamborghini. A previous push to potentially spin off the carmaker and motorcycle brand Ducati ran into opposition from labor leaders. Still, LamborghiniÂ’s recent profit gains -- including a 31.9% operating margin in the first half of this year -- make a solid case for a stock-market listing, said Michael Dean, an analyst at Bloomberg Intelligence. “An IPO is something that could potentially happen in the next 18 months, depending on market conditions,” Dean said. “A ˆ15 billion valuation is entirely justifiable and could be even higher, given the margin metrics.” LamborghiniÂ’s deliveries rose 8% to 7,430 vehicles in the first nine months of the year. Operating profit climbed 69% to ˆ570 million ($567 million). Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Lamborghini teases Huracan Sterrato tackling terrain