Tag Archives: Automobiles

Angry Shareholders Sue Lordstown Motors

March 22, 2021 admin

Lordstown Motors CEO Steve Burns is named in the recently filed lawsuit against the EV startup.

Angry shareholders filed at least three lawsuits against Lordstown Motors for fraud in U.S. District Court, demanding compensation from the cash reserves the company says it is planning to use to launch its battery-electric pickup truck this fall.

The startup company, housed in an old General Motors plant to produce its truck, has yet to file a response to any of the lawsuits. The first suit against Lordstown was filed March 18.

The lawsuits, which was filed in the U.S. District Court for the Northern District of Ohio’s Youngstown Division, comes on the heels of disastrous week for the fledgling electric vehicle company. It began with the devastating research report by Hindenburg Research that sent the company’s stock tumbling.

The company followed that with an unsatisfactory earnings call during which the executives failed to answer the issues raised in the report.

Plaintiffs hit EV startup hard

Burns said during the company’s earnings call he believed his company was the only one to begin automated assembly this early in the pre-production process.

The lawsuit, filed on behalf of Matthew Rico, who identifies himself as Lordstown shareholder, “Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s purported pre-orders were non-binding; (ii) many of the would-be customers who made these purported pre-orders lacked the means to make such purchases and/or would not have credible demand for Lordstown’s Endurance; (iii) Lordstown is not and has not been ‘on track’ to commence production of the Endurance in September 2021; (iv) the first test run of the Endurance led to the vehicle bursting into flames within 10 minutes; and (v) as a result.”

Rico also is asking that his lawsuit be certified as a “class action” that would cover all of Lordstown shareholders damaged by the company’s misconduct.

Hindenburg Research, a short-seller group, claimed the EV truckmaker either faked or overstated claims that it has advance orders for 100,000 of the electric pickups it plans to launch later this year. Further, the group described Lordstown CEO Steve Burns as a “con man.”

The tenor of the Hindenburg report echoes a study it put out last year on Nikola Corp., which also used a SPAC deal to go public, initially generating a big run up in its share price while also lining up a proposed alliance with General Motors.

Lawsuit targets Lordstown executives

CEO Burns expressed enough confidence in his team that he upped the expected production levels to 60,000 units.

The lawsuit names several Lordstown executives, starting with CEO William Burns, as defendants. The suit is built around the statements, including documents the company filed with the Securities and Exchange Commission and various press releases by the company that “were materially false and misleading at all relevant times.”

“The Individual Defendants, because of their positions at the Company, possessed the power and authority to control the content and form of the Company’s annual reports, quarterly reports, press releases, investor presentations, and other materials provided to the SEC, securities analysts, money and portfolio managers and investors,” contend in the filing.

Instead, the lawsuit said Lordstown executive “authorized the publication of the documents, presentations, and materials alleged herein to be misleading prior to its issuance and had the ability and opportunity to prevent the issuance of these false statements or to cause them to be corrected,” going back to when the company went public via a SPAC in August 2020.

The SPAC generated $675 million in cash, money it is using to finish development of its new Endurance model. Lordstown officials claimed they received more than 100,000 non-binding production reservations from commercial fleet users, which the aforementioned Hindenburg report contends is untrue.

The lawsuit added the defendants from Lordstown “knew that the adverse facts” had not been disclosed and were being concealed from the public and that the positive representations being made were false and misleading, making them liable for damages suffered by shareholders.

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Jeep Brings Back the Legendary Wagoneer and Grand Wagoneer

March 11, 2021 admin

The legend is back for 2022. The Grand Wagoneer returns to the Jeep line-up after more than three decades away.

The Jeep Wagoneer and Grand Wagoneer are back – and luxurious.

The long-awaited debut of what will now be the brand’s flagship model is scheduled to take place in Los Angeles Thursday morning and what awaits those who turn is a full sized, 8-passenger luxury vehicle ready to challenge names like Navigator and Escalade, among others, for the big dollars spent in the segment.

“We announced we were going to bring an American icon back and expand it into the premium world,” said Christian Meunier, Jeep brand CEO, during an earlier background webinar about the vehicles. The new models, aside from the names, share very little in common with their predecessors. The original Wagoneer was a go-anywhere and haul a lot of stuff while doing it vehicle.

The new Wagoneer and Grand Wagoneer are supposed to deliver a unique customer experience, separate from their more rugged, off-roading siblings. Thee models are not “simply another Jeep,” Meunier explained. They’re definitely not as these are the first Jeeps that are not trail-rated, although officials attribute that to the size of the vehicle more so than their capability.

It’s a new day for Jeep

The new 8-passenger full-size SUV sets a new benchmarked for the Jeep brand.

The new models are “born from Jeep, but their character is different from the rest of the brand,” he said, noting their development stems from the four C’s: culture, consumer, category and character. The culture comes from the brand’s history of innovation and craftsmanship Jeep looks to replicate with the new models. The company targeted a specific type of buyer — the consumer — for the new luxury utes.

“These people live life to the fullest. They enjoy every bit of it. They don’t let friends, status symbols or someone else’s expectation define them, or limit them,” Meunier noted. “No, they are in charge, and they are free. They are free to follow their own path and change it as many times as they want. They don’t seek the perfect life.

“Perfection to them is cold, because it is something unremarkable rational and repeatable. Their life is beautiful because it’s unique, it’s emotional and it’s intense. In a collection of imperfect moments that become memorable experiences. When you leave such a fulfilling life you choose a vehicle with a personality.”

Jeep achieved “category,” the second C, a long time ago as the Wagoneer was a founding father of the large, sport-utility segment. The name carries with it a certain connotation or expectation. The company is confident the new versions of the vehicle will carry forward a unique and notable reputation like its ancestors, but different.

First Look: Karma GS-6 Plug-In Hybrid

February 22, 2021 admin

Karma follows up on the all-electric GSe-6 with a plug-in alternative, the GS-6.

California EV company Karma is returning to its roots with the launch of the GS-6, its newest plug-in hybrid.

The sleek PHEV, the successor to Karma’s original Revero model, will offer an alternative to those who want the ability to run errands or commute in all-electric mode while not worrying about range when it’s time to take a longer trips.

The Karma GS-6 joins the all-electric GSe-6 later this year. It will follow with its first SUV, said global sales chief Joost de Vries, during a background media briefing.

“We’re not just selling Powerpoint (presentations) any more,” de Vries said. “We’re selling real cars. It’s starting to feel more like a complete auto manufacturer.”

Deja vu all over again

he Karma GS-6 will be powered by two electric motors on the rear axle, with a small gas engine acting as a range-extending generator.

If the company’s name triggers a sense of déjà vu that’s because it traces its roots back to Fisker Automotive. That’s the California-based start-up that introduced the Karma plug-in hybrid a decade ago. But the start-up ran into a series of technical and financial setbacks and was forced to file for Chapter 7 bankruptcy. Key assets, including the design of the Karma PHEV, were won by China’s Wanxiang Group for $149.2 million.

The company renamed itself Karma and has been selling an updated version of the sports sedan as the Revero.

The GSe-6, introduced last October, will be the first new product for the company which remains based in California. The all-electric model will offer a choice of 85 or 105 kilowatt-hour battery packs and a range of up to around 300 miles. It will start at $79,900, $10,000 more than the base version of its primary competitor, a Tesla Model S.

The GS-6 launches at $83,900. That might seem counterintuitive considering it only has a 28 kWh battery pack but the higher figure is justified by the complexity of the drivetrain, said de Vries.

Enough battery power to cover the typical commute and more

While the GSe-6 will offer up to a 105 kWh battery pack, the Karma GS-6 pack will be 28 kWh.

The plug-in uses twin electric motors to drive the rear wheels, like the GSe-6, producing a peak 536 horsepower and 550 pound-feet of torque. It also features a 1.5-liter turbocharged three-cylinder gas engine making 170 kilowatts, or 228 hp. The internal combustion engine provides no torque to the wheels, unlike most PHEVs. It serves solely as a generator, providing current for the electric motors if the battery pack runs down. In technical terms, it’s known as an E-REV, or extended-range electric vehicle.

Three versions of the GS-6 will be available. The base will launch from 0 to 60 in 4.5 seconds, according to de Vries, the Sport in around 3.8 to 3.9 seconds.

Another figure that should matter to potential buyers: the plug-in will get up to 61 miles per charge. That’s nearly as much as some first-generation battery-electric vehicles and more than covers the typical American’s daily driving, according to industry data. The pack can fully recharge using a Level II 240-volt home charger in about 4.5 hours. It cannot use the newer 400-volt public fast chargers.

Styling could be a key selling point

The Karma GS-6 will use a minimum of conventional buttons and switches.

The Chinese-owned automaker has put a high premium on styling, and both the GS-6 and GSe-6 retain the basic, coupe-like sports sedan design language of the original Karma Revero.

Lending to the sporty look and feel, the company noted in a release, “The GS-6 and GS-6L will come standard with 21-inch Cascade Silver wheels and slate-colored Brembo disc brake calipers, while the top-of-the line GS-6S will come standard with 22-inch Dune Twist Midnight Chrome wheels with red Brembo calipers mated to vented discs.

Much like the Tesla Model S, Karma has largely eliminated switches and knobs in favor of touchscreen controls – though the GS GS series adopts a more conventional shape for the digital gauge cluster and a less radical size for the touchscreen atop the center console. There’s Bluetooth, of course, and both Android Auto and Apple Carplay. The GS-6 can use smartphone-style over-the-air updates to revise onboard software.

Safety features include a 360-degree surround view monitoring system, automatic emergency braking, active cruise control and blind-spot monitoring. There also will be a limited autonomous Level 2 system. Karma has not yet revealed whether it will allow any hands-free operation.

Making luxury EVs “more accessible”

Right now, Karma produces various versions of the Revero, a plug-in hybrid originally known as the Fisker Karma.

While the two new Karma models might push into luxury territory, they both come in under the price of the brand’s current plug-in model, the Karma Revero.

The goal, said, Lance Zhou, Karma’s CEO, is to “mak(e) luxury electric vehicles more accessible.”

Even as it begins expanding its line-up, Karma is increasing its global presence. It initially focused on the U.S., adding Chile in 2019 and nine European countries in 2020. Iceland followed two months ago, with the Middle East, Argentina and China to follow.

Karma’s initial aspirations are modest, the company’s plant in the San Moreno Valley capable of ramping up to around 15,000 vehicles annually. But it has significantly bigger aspirations.

SUV and a second plant in the works

“Our second plant is being built as we speak,” de Vries said during a web briefing. It is “Not in the U.S.,” he said, adding that the location won’t be disclosed until closer to when it is ready for production.

That should come in 2023, he hinted, with the launch of Karma’s first SUV. The sales target for that, he added, is “in the six figures.”

The SUV could see Karma once again offer a solar roof to help extend range. But the company is looking at new technology that would allow it to embed the solar cells directly into a transparent moonroof, said de Vries. It is also looking at ways to mount cells on the body itself, in the paint.

Beyond the SUV, other products are in the works and Karma’s “ambition,” said de Vries, “is to live on the top end of premium into the middle of luxury. You’re not going see us bring out a $35,000 vehicle. That’s not going to happen.”

Volkswagen Ponders Porsche Offering to Fund EVs

February 18, 2021 admin

Volkswagen reportedly is considering an offering of Porsche stock to help fund its $86 billion EV plan.

Bringing EVs to market costs big money, forcing some automakers to go public to raise cash – Volkswagen possibly being next.

Reports suggest that VW is pondering a listing of Porsche AG. The money raised designed to help with the roll out more than $86 billion in electric vehicles set to come mid-decade. German business publication Manager Magzin reported the plan is only in the discussion stage.

The listing, which reportedly could net as much $30 billion, would only be for part of the sports car maker and wouldn’t occur until next year, the publication reported. Some analysts believe if Porsche AG were to be spun off entirely it could be worth more than $120 billion.

Volkswagen’s not alone

VW says it will roll out 50 electrified vehicles across all its brands by 2025.

The rumor comes on the heels of Daimler AG’s move to separate its truck unit into its own separate company in the third quarter of this year. The idea is to “unlock the full potential” of the businesses, which some analysts believe means some sort of offering to raise cash.

Once the split occurs, the car unit will need to fund its ongoing expansion of its electrification effort and that could conceivably come in the form of issuing new shares. The new business will be named Mercedes-Benz AG.

Plenty of other automakers have benefitted from IPOs, notably Ferrari and Aston Martin. However, with the influx of new EV makers moving closer to production around the world, the final push to the finish line requires a massive amount of cash.

EV makers raising money

Nascent electric vehicle companies have been scurrying around looking to add more money to their coffers, the latest company added to the list is Rivian. The company raised more than $8 billion from private investors since the start of 2019, including a recent round netting the company $2.65 billion in fresh money.

Volkswagen has designated $86 billion to bring more than 50 EVs to market in the next few years, including the ID.4.

However, as the company is closing in on building pre-production and early run production electric trucks and SUVs at its plant in Normal, Illinois, the idea of having enough liquidity to get through the process must weigh heavy on the top minds there.

With all of the other EV makers raising money through reverse mergers with blank-check companies and getting listed and a fat check, Rivian appears to be on board. Reports suggest the company is preparing for a conventional IPO this fall that could net it as much as $50 billion.

Other EV companies that have secured additional funding through offerings include Fisker, Lordstown Motors, Faraday Future, Lucid Motors and Nikola Motors. Also, the king of EV mountain repeatedly offered new shares to raise funds.

New Vehicle Sales Slowed in January Despite Improved Retail Results

January 27, 2021 admin

Depressed fleet sales are putting a drag on January’s results, offsetting improved retail results.

Depressed fleet demand continues to hobble the overall demand for new vehicles, leaving the seasonally adjusted annual rate of sales in January 5.5% behind year ago levels, according to new estimates by analysts.

Conversely January retail sales are expected to increase slightly, according to TrueCar. U.S. retail deliveries of new cars and light trucks are forecast to see an increase of 0.4% from a year ago when adjusted for the same number of selling days. However, that increase isn’t going to be enough to offset the impact of the depressed fleet market.

TrueCar, the car-buying help service, expects the total SAAR to drop to an annual rate of 15.9 million units from 16.8 million units in January 2020 just before the COVID-19 pandemic sent the car business into a tailspin.

(New year brings new deals on new cars, trucks and utes.)

“Consumer activity has kept the vehicle market on a strong recovery path in recent months. Retail sales, which generally account for four-out-of-five vehicles sold in the U.S. market, are expected to remain strong in January,” noted a report from Cox Automotive.

The Cox report said positive economic news, coupled with improving consumer confidence, is helping rebuild both interest and ability to buy.

“Entering 2021 with retail sales in line with last year is a big win for the automotive industry,” said Nick Woolard, lead industry analyst at TrueCar.

“However, while retail sales have rebounded, rental fleets remained depressed and continue to interrupt fleet sales. As a result, fleet sales are struggling to come back to pre-pandemic levels and are driving total unit sales down,” Woolard said.

In addition, the average transaction prices for new vehicles are projected to be up 4.2%, or $1,509, from a year ago but down 4.5%, or $1,759, from December 2020. TrueCar projects that U.S. revenue from new vehicle sales will reach approximately $39 billion for January 2021, down 4.4% from a year ago.

(Despite production cuts due to chip shortages vehicle inventory remains stable.)

“The automotive industry continues to reap the benefits of continued strength in retail demand with lower incentive spend.

Improved consumer confidence and other factors continue point to continued retail sales strength.

“A handful of brands such as Ford, Genesis, GMC, Ram and Toyota, appear to be in the coveted quadrant of both retail growth as well as incentive decline. This is mostly driven by new product and being in the right segments or a combination of the two,” added Woolard.

Woolard said average transaction prices have finally come down from the record-setting highs we saw last month but are still higher than this time last year. Of the top carmakers, only Kia has an average transaction price below $30,000, TrueCar reported.

Alain Nana-Sinkam, vice president of Industry Insights at TrueCar, said the trend is most likely to continue so buyers are going to adjust their buying process in response.

“As new vehicle prices rise, we may see more price-conscious shoppers gravitate back towards smaller segments or the used car market due to growing concerns around affordability.”

(Auto sales gain traction as Americans avoid mass transit.)

Fleet sales for January 2021 are expected to be down 23.7% from a year ago but used vehicle sales for January 2021, which are critical for setting the price of leases on new vehicles, are expected to reach 3.2 million, up 1% from a year ago and up 10% from December 2020.

Stellantis Enjoys Warm Welcome from European Investors

January 18, 2021 admin

Stellantis Chairman John Elkann is meeting with the media tomorrow to talk about the company’s future.

Not every merger involving an automaker these days involves a blank-check company. The newly minted tie-up between Fiat Chrysler Automobiles N.V. and Peugeot S.A. was finalized over the weekend and the resulting company, Stellantis N.V., is enjoying a warm welcome.

At least on the stock market.

The new company’s stock trades on three exchanges and it finished the day on the Paris exchange up nearly 7%, closing at €13.14. It also jumped up 7.7% on the Milan exchange.

The New York Stock Exchange, the third exchange it’s traded on, was not open today due to the Martin Luther King Jr. holiday.

(Chrysler is no more as Stellantis comes to life.)

CEO Carlos Tavares has a lot on his corporate plate now that the merger is complete.

The $52 billion merger of near equals creates a massive enterprise with operations on six continents, employs about 400,000 people, sells – at least for the time being – 14 vehicle brands and sells 8.1 million vehicles annually, making it the fourth-largest automaker in the world behind Volkswagen, Toyota and the Renault-Nissan-Mitsubishi Alliance.

With all of those possibilities, it’s going to take a press conference Tuesday to start revealing what Stellantis will look like now that’s it’s a living, breathing entity. What brands will stay? How many workers will keep their jobs?

People are nervous because the CEO of the new enterprise, Carlos Tavares, has a history of being fearless when it comes to eliminating unprofitable operations and processes in the pursuit of corporate profit. One need only look at how what he did with former General Motors’ subsidiary Opel. A money-loser for a decade, he had it in the black in one year.

(FCA CEO Manley gets new assignment following Stellantis merger.)

“Stellantis faces a mixed outlook as U.S. stimulus plans may buoy Chrysler vs. a more uncertain outlook for Peugeot in Europe,” Michael Dean, BI automotive analyst told Bloomberg. “Former PSA CEO Carlos Tavares takes the helm and, similar to his handling of PSA’s takeover of Opel in 2017, we anticipate a new strategy in the first 100 days of his stewardship. All regions face a difficult 1H amid continued lockdowns.”

Quirky name aside, investors gave Stellantis a warm welcome when it began trading Monday.

The two companies have worked to allay fears of major cutbacks in France and Italy. While top managers have outlined plans to trim costs by $6 billion following the merger, they insist they will be able to do that without closing any plants. They have outlined 40% of those cost savings coming from purchasing, 40% from combining product development efforts, and 20% from marketing and other operations.

However, it’s unclear how Tavares plans to tackle other issues such as improving the company’s performance in China, the world’s largest automotive market, and bolstering its electrification efforts, especially in the aforementioned China as well as in the U.S. Just addressing those two issues are likely to require billions of dollars and euros. Some of plans for these things and more may get touched on Tuesday, Marco Santino, a partner at consulting firm Oliver Wyman, told Reuters.

(Fiat Chrysler and PSA not exactly a “merger of equals.”)

“He has proven to be the kind of person who prefers action to words, so I don’t think he will make loud statements or try to over-sell targets,” he said.

FCA-PSA Set to Kick Off New Year With Completion of Merger

January 4, 2021 admin

Fiat Chrysler and PSA shareholders are expected to approve the merger of the two companies forming Stellantis, the world’s fourth-largest automaker.

This story has been updated to reflect the merger’s approval in separate votes by Fiat Chrysler and PSA investors.

The deal is done; shareholders at both PSA Group and Fiat Chrysler Automobiles now have voted to approve a merger creating the world’s fourth-largest automaker by sales volume, Stellantis.

Shareholders overwhelming approved the deal that was first announced in late 2019 — but only received final regulatory approval late last year. The $58 billion deal won an “Aye” vote from 99.15% of FCA shareholders, while 99.85% of PSA investors approved of the deal during an online meeting. Following the vote, the two companies said the merger process is expected to be completed by January 16.

Officials with the two companies have promised that the merger will yield a significantly stronger automaker, helping drive down manufacturing costs while also making it easier to prepare for the many changes set to sweep through the auto industry in the coming decade, notably the shift to electrified and autonomous vehicles. But the merger also raises numerous questions, starting with the broad range of brands each of the new partners bring to Stellantis. There has been widespread speculation that the new company could eliminate some of the weaker marques, including FCA’s namesakes, Fiat and Chrysler.

(FCA CEO Manley won’t be on the board after merger with PSA is completed.)

Carlos Tavares, PSA (left) and Mike Manley, FCA, shake hands following the signing of the merger agreement between the two companies in 2019.

“Stellantis will be a sort of conglomerate of brands, some great and some not so good and most very regional,” wrote Jefferies analyst Philippe Houchois. “The merger will be a good opportunity for a reset.”

The auto industry has been facing enormous pressures in recent years and FCA’s former CEO, the late Sergio Marchionne, began looking for an additional alliance partner even before completing the merger that formed Fiat Chrysler Automobiles a decade ago. During his tenure the plan was rebuffed by some of the industry’s giants, including Volkswagen and General Motors. It was Marchionne’s successor, Mike Manley, who took things a step further.

Manley came within hours of completing a merger with the largest French automaker, Renault, but the deal unraveled just before it was set to be announced. Months later, FCA made the surprise announcement that it was talking with PSA, parent of brands including Peugeot, Citroen, Opel and Vauxhall.

A formal plan was announced in December 2019 but it faced a variety of challenges, including issues raised by the coronavirus pandemic. Nonetheless, the process moved forward, the proposed partners clearing the last regulatory hurdles as 2020 drew to a close.

Under the agreement, FCA’s Chairman John Elkann – heir to Fiat’s founding Agnelli family – will retain that title at Stellantis. So too will Carlos Tavares, the highly regarded CEO who has been credited with turning around the French company since joining it six years ago, keep his role. Significantly, PSA was able to put the Opel/Vauxhall unit into the black

FCA CEO Mike Manley will not retain a seat on the board of directors after the merger.

within a year after acquiring the German-based operation from General Motors. Under GM, Opel had been in the red for nearly two decades.

(FCA, PSA pick name for post-merger company: Stellantis.)

Nonetheless, PSA has plenty of challenges of its own. Among other things, it is trying to find the formula for returning to the critical U.S. market it left nearly three decades ago.

As Stellantis, the new enterprise will need to move quickly to catch up with key competitors racing to bring electric vehicles to market. These include not only established manufacturers such as VW and GM but new entrants like Tesla and Lucid.

The partners set some tough goals going into the final phase of the merger. Early on, officials estimated they could squeeze out savings of 3.7 billion euros, or $4.5 billion, through various efficiencies. They later upped that to 5 billion euros, or about $6.1 billion. But the pandemic has made the business of forecasting, whether unit sales, revenues or earnings, exceedingly difficult. And the expectation of analysts, such as IHS Markit, is that it will take to nearly mid-decade before global sales come close to pre-pandemic levels.

The industry has been seeing an acceleration of mergers, acquisitions and less overarching joint ventures and alliances in recent years. But FCA provides a textbook example of how they don’t always pan out. The U.S. side, Chrysler entered into a supposed “merger of equals” in 1998 but, a decade later, found itself discarded by the German side of DaimlerChrysler AG. It would have been allowed to go bankrupt by the Obama administration in 2009 were it not for Fiat pulling together a rescue plan.

Fiat Chairman John Elkann will retain the same role in a merged company.

Then, under CEO Marchionne, FCA spent years chasing an even bigger alliance.

Curiously, the company that originally defined the concept of “bigger-is-better” reversed course following its own brush with Chapter 11. GM not only sold off the endlessly struggling Opel unit but also pulled out of an assortment of once important markets, including Australia, Russia and South Africa. After the formation of Stellantis, GM will slide back one spot and become only the world’s fifth-largest automotive manufacturer.

(FCA, PSA formally lock merger into place.)

“The auto industry has been chasing size and consolidation for years, but it’s been slower in coming than many would like to see,” Jefferies analyst Philippe Houchois told investors. “The question is whether GM, Toyota and Renault-Nissan have provided evidence that there may be limits to this strategy.”

First Drive: 2021 Volkswagen ID.4 First Edition

December 18, 2020 admin

Volkswagen offered an early look at the 2021 ID.4. The prototype more than hinted at the impressive crossover coming. (Photo credit: Larry Printz)

The forthcoming appearance of the 2021 Volkswagen ID.4 is far from a surprise if you pay attention to auto shows. It’s here that VW clearly proclaimed what it had up its corporate sleeve with a series of ID electric concept vehicles.

And given the consumer proclivity for crossovers, particularly compact crossovers, it’s little surprise that the first in a series of Volkswagen EVs under the ID sub-brand will appear in March 2021 in the form of the ID.4 compact crossover.

Overview: Offered in base, Pro and First Edition trims, Volkswagen allowed TheDetroitBureau.com to briefly drive a First Edition pre-production prototype, although Volkswagen is still finalizing the vehicle’s software before it enters production.

Initially, the two-row crossovers will be built in Germany, but that will change come 2022. In November 2018, Volkswagen began an $800 million expansion at its Chattanooga, Tennessee plant for a new body shop and battery manufacturing site for the ID.4.

The 2021 VW ID.4 prototype provided an early look at what’s to come next year. (Photo credit: Larry Printz)

Exterior: Given the solid, structural boxiness of VW’s crossovers, the ID.4 is a refreshing change of pace, with flowing, sensual lines offset by a gray accent to the vehicle’s side profile that visually lowers the car. The ID.4’s front-end recalls the new Golf despite the lack of a grille, and the overall presence is cutting-edge contemporary without being excessive. Uniquely, the ID.4’s charging port is not up front like many EVs; it’s in the rear where you would expect to find the fuel filler door. VW includes ports for its charger as well as a DC fast charger.

All models come with a body color roof, black roof rails, 19-inch aluminum alloy wheels, heated side mirrors and washer nozzles, and, on all-wheel-drive models, a heated windshield. The $4,500 Statement package adds a panoramic fixed-glass roof, premium LED projector headlights with adaptive front-lighting, power-folding side mirrors with puddle lamps, a 12-inch touchscreen, SiriusXM satellite radio with a three-month trial, an adjustable trunk floor, and a power tailgate. The $1,500 Gradient package upgrades the Statement package with 20-inch wheels, and a black roof with silver roof rails.

(VW begins battle with Tesla for EV sales in China with two new ID.4 models.)

Interior: Like other EVs, the ID.4’s driveline components are mostly beneath the vehicle, allowing for a flat floor and generous interior space given the vehicle’s overall length, which nearly five inches shorter than a Tiguan. Yet it has 99.9 cubic feet of passenger volume, and 30.3 cubic feet of cargo space, expanding to 64.2 cubic feet with the seats folded.

“… Given the solid, structural boxiness of VW’s crossovers, the ID.4 is a refreshing change of pace …”

The First Edition’s fixed Panoramic glass roof made the cabin feel even larger. There’s ample legroom front and rear for even the tallest of passengers. The ID.4’s two-tone ambience is starkly modern, but less barren than comparable Teslas. Material quality is impressive.

The switchgear on the 2021 Volkswagen ID.4 prototype is almost entirely capacitive, (Photo credit: Larry Printz)

Thoughtfully, designers have filled the ID.4 with little conveniences. The center console has a sloped compartment for wireless charging, as well as wireless Apple CarPlay and Android Auto. The console bin has removable dividers that form a cupholder.

The back of the front seatbacks has small secondary pockets to hold smartphones. And the base of the B-pillars has tie-down points, in case you fold down the rear seats and need to secure cargo. The rear cargo deck’s floor opens to reveal a shallow secondary compartment and another compartment that holds the charger and tire patch kit. There is no spare tire, but there a number of grocery bag hooks and USB-C ports.

The instrument panel contains capacitive switches, but there’s no haptic feedback to alert you of activation. Nonetheless, their spare design was refreshing, as there’s none of the visual clutter that so many designers seem to insist upon. Once deciphered, they’re easy enough to use. The instrument cluster is mounted on the steering column, and telescopes along with the steering column. The transmission switch is mounted next to the cluster, and actuates by twisting it forward for drive, and rearward for reverse. A button on its side engages park.

Standard features include a 10-inch touchscreen, rain-sensing wipers, auto-dimming rearview mirror, dual-zone automatic climate control, keyless entry, and a heated steering wheel and a 4G LTE-enabled hotspot for up to four devices.

(VW ID.4 charges into American market takes aim at Tesla.)

The roomy front seat of the the ID.4 prototype sports a very modern, but not edgy look that supports the exterior look. (Photo credit: Larry Printz)

Powertrain: Uniquely for a modern Volkswagen, the ID.4 is rear-wheel drive, the first since the original VW Beetle and its offspring. An 82 kW AC Permanent-Magnet Synchronous Motor and 1-speed automatic transmission is mounted to the rear axle, and generates 201 horsepower, and 208 pound-feet of torque. A second motor will be added to the front axle later in the model year to provide 302 hp and all-wheel drive.

Volkswagen decided to use rear-wheel drive because it allows for a more powerful motor, negating any chance of torque steer, a common problem with front-wheel-drive EVs, according to Gunnar Wynarski, an engineer with Volkswagen in Chattanooga, Tennessee. In addition, engineers moved a lot of components out of the instrument panel and under the hood to add a margin of extra safety and provide more interior space.

The EPA rates the ID.4 at 104 MPGe city/89 MPGe mpg highway/97 MPGe combined, with a 250-mile range. Charging time from five to 80% takes about 38 minutes on a fast charger, according to Wynarski. Volkswagen also includes three years of fast charging with Electrify America at no additional cost.

Technology and Safety: Standard driver assistance technology includes anti-lock braking system, electronic stability control, forward collision warning, autonomous emergency braking with pedestrian monitoring, blind-spot monitor, rear-traffic alert; adaptive cruise control, lane-keeping assist, travel assist; and emergency assist, dynamic road sign display, park distance control, and automatic high-beam control.

Driving impressions: Our initial drive was brief and confined to the sort of mundane interstates and clogged thoroughfares that constitute daily driving. Clearly, the ID.4 has this sort of driving licked, as its instant torque lends the ID.4 a lively feel. The new MEB platform packs the batteries down low between the axles, which provides for a solid, weighty feel that ably balances compliance and control, while the absence of an internal combustion engine and any semblance of road noise made for a blessedly quiet driving experience. And the accelerator and brake pedals are whimsically embossed with play and pause symbols.

There was no chance to push the ID.4 through more abrupt maneuvers or measure long-term seat comfort or control logic. That will have to wait for a full road test.

(Volkswagen offers early look at ID.4 interior.)

Wrap Up: With the ID.4, Volkswagen has fielded an extremely competitive new entry in burgeoning compact crossover EV segment, one that could quickly grow to outsell its conventional VW siblings.

Hennessey Looks to Make Run at Speed Record in New Venom F5

December 18, 2020 admin

The new Hennessey Venom F5 is powered by a 6.6-liter V-8 putting out 1,817 horsepower.

Records are made to be broken and speed merchant Hennessey Special Vehicles is looking to do just that with its newly, ahem, launched Venom F5.

This is Texas-based Hennessey’s second iteration of the vehicle, which competes with other supercars like the Bugatti Chiron SuperSport, and the company plans to produce just 24 of them at a cost of $2.1 million each.

“Our customers love speed, so we’re fired-up to push the boundaries of what’s possible to attempt the world’s fastest production car record, but the Venom F5 is about more than just speed and power,” the company noted in a release. “This car will handle superbly, quality is exceptional, there are more than 3,000 bespoke parts, materials are exquisite, everything is a fitting tribute to 30 years of the Hennessey brand.”

(Hennessey offers 805-hp Venom package for 2021 F-150.)

Hennessey is building 24 of the new Venom’s — at $2.1 million each.

The Hennessey folks are looking to exceed a 311 mph average after two runs on the landing strip at NASA’s Kennedy Space Center in Florida early next year. The new Venom clearly has the look of a vehicle capable of that kind of speed, and the powerplant only supports the notion.

The Venom F5 is powered by a twin-turbocharged 6.6-liter V-8 engine, which the company developed and built in-house. Hennessey designed and built completely in-house. It produces 1,817 horsepower funneled through a 7-speed transmission.

That results in a 0 to 60 mph time of a smidge under 2.6 seconds. It puts power to the ground as a rear-wheel-drive model rather than all-wheel drive, which is a more typical configuration for hypercars, especially those looking to set new records.

This power, 277 hp/liter, in a car that weighs just 2,998 pounds generates a power-to-weight ratio of 1,298 hp/ton – the highest of any road car, the company noted. The weight is achievable due to its carbon-fiber monocoque and other lightweighting methods, i.e. carbon fiber everywhere.

(Jurassic Drive: Hennessey unleashes new beast — VelociRaptor 6×6.)

While it’s built with speed as its selling point, Hennessey plans to sell 24 of these vehicles so come creature comforts will be built into the two-seater, such as air conditioning, a 9-inch Alpine touchscreen with Apple CarPlay and Android Auto available and Bluetooth capability.

The new Venom is certainly fast, but it’s not just a chassis with a huge motor bolted to it.

However, the new Venom isn’t just the legendary automotive custom builder’s latest offering with a big price tag. The company plans on regaining the title of world’s fastest production car. That title is currently held by SSC’s Tuatara hypercar, which posted an average speed of 316.11 mph in October. Or maybe it’s not. There is some controversy surrounding the verification of the new leader’s record run, but for now it’s still the official record holder.

Since there is some issue surrounding the current benchmark, Hennessey officials laid out their plans to make sure there is no uncertainty surrounding their efforts.

The record attempt will be independently verified by the world-renowned experts from Racelogic using VBOX GPS data acquisition systems. Racelogic / VBOX engineers will be on site to install, test and calibrate the speed testing equipment in the F5 to ensure absolute accuracy and transparency.

(Ready! Set! Record! Hennessey wants speed title for Venom F5.)

In addition, VBOX engineers will verify all test data and final speed numbers. The speed test will be attended by independent witnesses, media guests and F5 customers. GPS data and uninterrupted video footage will also be made publicly available following the speed test.

Auto-Themed Book an Ideal a Last-Minute Gift for the Car Fan on Your List

December 15, 2020 admin

If you need a last-minute gift for the automotive fan on your list, one of these books may fit the bill.

Editor’s Note: Finding that perfect item for the car nut on your shopping list gets tougher and tougher every year. TheDetroitBureau will be offering up some suggestions during the next few days in hopes spreading some holiday cheer — or easing the headache associated sometimes associated with gift giving.

Books are a favored choice for gifts during the holiday season, particularly the last-minute variety. The list of books aimed at gearheads is exceptionally long with plenty of amazing options for the automotive maven on your shopping list.

However, in recent months, several new titles have appeared, paying homage to storied brands, taking an in-depth look at motorsports and even examining junkyards.

With the number of days left the calendar to get gifts dwindling, here’s a list of some of the best of new automotive-focus books that could move you from Grinch to the Greatest with the simple swipe of a credit card.

(Zoox’s new “toaster” may be the EV of the future.)

Hemi Muscle Cars 70 Years: Chrysler, Dodge and Plymouth High Performance. Darwin Holstrom. 190 pages. Quarto Publishing Group.

One of the best elements of this book is that it places the muscle cars from Chrysler, Dodge and Plymouth in a historical context and ties those vehicles back to wider design and automotive traditions. I especially liked the fact that the author, who has written other collection-style books on Gibson Guitars and Indian Motorcycles, makes the writing is straightforward and accessible.

In addition, the book includes a broad selection of photographs of many vehicles built over the past seven decades from a variety of sources. An interesting book for both fans and for anyone interested in muscle cars.

Junkyard: Behind the Gates at California’s Secretive European-Car Salvage Yard. By Dieter Rebmann/Roland Lowisch. 176 Pages. HEEL Verlag gmbh.

Southern California has rich tradition of serving as the is setting for mystery stories and the German-based team delve into one that is set amid region’s rich and varied automotive culture. The text tells the story a German-born immigrant who settled in Los Angeles and built a business out scrap by buying up the wrecks of the European-made cars he found around LA.

The pictures by Dieter Rebmann, a long-time photographer, whose list of commercial clients includes, VW, Bose Bugatti and Daimler, turn the landscape of the space that Klein created in South Central L.A. into a work of art that could grace the coffee table of anyone interested in automotive culture or impressive photography.

(First Drive; 2021 Ford Mustang Mach-E.)

Volkswagen Beetles and Buses: Smaller and Smarter. Russell Hayes. 176 pages. Quarto Publishing Group.

Even if you are not Volkswagen fan, the books are bound to bring a smile to your face simply because the quirky, off-beat design of the Beetle and the legendary VW Bus seemed to be such a departure from traditional automotive design.

The text by Russell Hayes, a veteran London-based automotive journalist, delves into the history of both vehicles going all the way back to the 1930s. But it also builds out into a history of the design push-pull that led to the re-emergence of Beetle in the years after World War II and its continuous evolution that turned it into a global icon.

The VW Bus initially came from Volkswagen effort to meet the demand for an economical vehicle that could be used for inexpensive travel and camping, which became popular with a cash-strapped population in the post-war years. One of the book’s shortcomings is that while there are a lot of historical snapshots in the book, overall, the photography is rather bland.

Shadow: The Magnificent Machines of a Man of Mystery: By Peter Lyons. 463 Pages. Evro Publishing.

Fans of auto racing invariably get hooked on the drivers or the machines or even the team owners if the develop if the cars develop a reputation for invincibility. But this book, by a writer with a long career chronicling motorsports, tells the story of an underdog whose teams and cars took on the giants of auto racing in the 1970s. Donald Robert Nichols’ small, under-resourced teams succeeded in literally making a race of it any number of series, including Formula One where money is often a decisive factor in determining who wins and who loses. It is a compelling story, but the author, who enjoyed unique access to Nichols and his colleagues as the photographs demonstrate, is underserved by his editors.

100 Years of Bentley. By Andrew Noakes. 240 Pages. Quatro Publishing.

Bentley is one of the most celebrated marques in the automotive world and throughout the past century it has retained its aristocratic bearing despite the vicissitudes of the global automotive industry. The book tells the story from the beginning, starting with the company’s founder, W.O. Bentley, a railroad engineer by trade.

The story told in the book is artfully illustrated with photographs, drawings and other types of material that helps brings the story to life. The photographs, many of them drawn from Bentley’s archives, have the feel of fashion photography found in glossy magazines such as Vogue or Harper’s Bazaar. The book also comes with a slip cover suitable for a coffee table.

(FCA begins new era with production of first Jeep Wrangler 4xe.)

The Complete Book of Classic MG Cars. By Ross Alkureishi. 238 Pages. Quatro Publishing Group.

The first MG was built in 1924, according to this chronicle of the fabled MG marque. The book celebrates the company’s history of producing a long line of sports cars that have come to define the automobile for generations of motorists.

The book lays out MG’s history model by model and includes descriptions of the technology and specifications of virtually every model. The chronicle could have been rather plodding but the author, a British automotive journalist, manages to artfully keep the story moving forward to the early days of the 20^th century when the Rover Group – than the owner of MG – ran aground and ownership was transferred to Chinese hands. While the MG name has been eclipsed, it has never died, which makes the book so interesting.

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