Motor Authority - blog Tag: Germany

Last year a spate of bankruptcy threats and possible acquisitions or closures hit the coachbuilding industry, and then earlier this year Karmann, perhaps most famous for the Karmann Ghia conversion, shut its doors before heading into bankruptcy.

While there was some initial hope from reports claiming Karmann may live on due to a $14 million deal with Volkswagen to help with the development and supply electric vehicles, neither firm confirmed the news.

Today, however, a spokesman for Karmann has revealed that Volkswagen wants to buy the bankrupt independent vehicle manufacturer.

"There have been talks for some time," Roland Leithaeuser told...

Last year a spate of bankruptcy threats and possible acquisitions or closures hit the coachbuilding industry, and then earlier this year Karmann, perhaps most famous for the Karmann Ghia conversion, shut its doors before heading into bankruptcy. While there was some initial hope from reports claiming Karmann may live on due to a $14 million deal with Volkswagen to help with the development and supply electric vehicles, neither firm confirmed the news. Today, however, a spokesman for Karmann has revealed that Volkswagen wants to buy the bankrupt independent vehicle manufacturer. "There have been talks for some time," Roland Leithaeuser told The Associated Press on Sunday, confirming a report by weekly Der Spiegel. According to the new reports, Volkswagen and Karmann have been negotiating the deal terms for several weeks but are yet to come to an agreement. [Drive] Read More

It seems these days that a new electric sports car concept is announced almost every month but it's not often that we get to see the actual concept in the metal, so to speak, or in the case of the new e-1, in the carbon-fiber composite. The e-1 electric roadster is the latest creation of German firm E-Wolf and it is just one of two new electric vehicles from the company, with the latter vehicle set to compete with the likes of Ferrari in the performance arena.

Working in partnership with the Saxony Lightweight Center and the Institute for Lightweight Structures and Polymer Technology at the Technical University of Dresden, E-Wolf unveiled...

It seems these days that a new electric sports car concept is announced almost every month but it's not often that we get to see the actual concept in the metal, so to speak, or in the case of the new e-1, in the carbon-fiber composite. The e-1 electric roadster is the latest creation of German firm E-Wolf and it is just one of two new electric vehicles from the company, with the latter vehicle set to compete with the likes of Ferrari in the performance arena. Working in partnership with the Saxony Lightweight Center and the Institute for Lightweight Structures and Polymer Technology at the Technical University of Dresden, E-Wolf unveiled its street-legal e-1 roadster at the recent 2009 Frankfurt Auto Show and plans to add the e-2 supercar to its lineup in about two years. The key to the cars’ performance is a light weight structure. In the case of the e-1, the entire chassis weighs in at just 1,102-pounds but this comes at a cost as the vehicle can only accommodate drivers weighing up to 150-pounds. Power comes from a 150-horsepower AC induction motor with 185-pound-feet of torque. This is enough to propel the e-1 from 0-62 mph in less than five seconds and see it reach a top speed of 143 mph. An array of lithium-ion batteries will see the e-1 drive up to 200-miles on a single charge. While the e-1 can be bought today at a price of €150,000 (approximately $218,818), E-Wolf is also working on an e-2 supercar due in 2011. The e-2 will feature four electric motors, one in each wheel, delivering a combined output of 544-horsepower and 737-pound-feet of torque--all this in a chassis that is expected to weigh around 2,000-pounds. So far the e-2 only exists in computer-generated rendering form but its designers promise the car will be able to reach a top speed of 155 mph. Hopefully the production version will stay true to the concept’s lines. [AutoBild] Read More

General Motors today announced that its Board of Directors supports a bid from the consortium of automotive parts supplier Magna International and Russian bank Sberbank to buy a majority stake in its European Opel (Vauxhall) operations.

Several key issues will be finalized over the next few weeks to secure the binding agreements, including the written support of the labor unions to support the deal, as well as the finalization of a definitive financing package from the German government.

The final agreements should be ready to sign within a few weeks, with closing to follow within the next few months. Under the deal, Magna and Sberbank will...

General Motors today announced that its Board of Directors supports a bid from the consortium of automotive parts supplier Magna International and Russian bank Sberbank to buy a majority stake in its European Opel (Vauxhall) operations. Several key issues will be finalized over the next few weeks to secure the binding agreements, including the written support of the labor unions to support the deal, as well as the finalization of a definitive financing package from the German government. The final agreements should be ready to sign within a few weeks, with closing to follow within the next few months. Under the deal, Magna and Sberbank will purchase a 55% stake in New Opel (the restructured company), while GM will retain a 35% stake and the last 10% stake reserved for Opel’s employees. The agreement will keep Opel a fully integrated part of GM’s global product development organization, allowing all parties to benefit from the exchange of technology and engineering resources. Read More

General Motors CEO Fritz Henderson has previously stated that a new buyer for Opel would be picked this year and that at least three different companies were still in the bidding. Those three companies included auto parts supplier Magna International, private equity group Ripplewood Holdings and Chinese automaker Beijing Automobile Co. (BAIC), however, late last month reports emerged claiming the German government and GM had failed to agree on a buyer though Magna is said to be the leading contender.

Now it appears that GM has a backup plan to keep Opel all for itself. Latest reports indicate that GM is considering a plan to raise funding to...

General Motors CEO Fritz Henderson has previously stated that a new buyer for Opel would be picked this year and that at least three different companies were still in the bidding. Those three companies included auto parts supplier Magna International, private equity group Ripplewood Holdings and Chinese automaker Beijing Automobile Co. (BAIC), however, late last month reports emerged claiming the German government and GM had failed to agree on a buyer though Magna is said to be the leading contender. Now it appears that GM has a backup plan to keep Opel all for itself. Latest reports indicate that GM is considering a plan to raise funding to keep Opel as an alternative to selling the unit. At a board meeting last Friday, GM directors declined to endorse a sale of Opel to Magna, sending the automaker back into negotiations this week with the German government. A person familiar with Magna’s plans previously revealed that the parts supplier had increased its bid for Opel, from the original 20% stake it envisioned, to 27.5%. Under the new plan, Magna and Sberbank, Magna's Russian partner, would own 55% of Opel--27.5% each--while the remaining 35% would go to GM and 10% would go to Opel employees. However, while GM remains focused now on trying to clear remaining issues with the Magna deal, executives also are considering other options, including raising more than $4 billion in a bid to keep Opel, sources said. To raise the necessary funds, GM could potentially sell or mortgage its assets in China. In the meantime, the German government is providing Opel with bridge loans to stay afloat while the bids continue to be studied. GM has also asked Germany for financial assistance for the brand. [Reuters] Read More

That was quick. Just a month after President Obama signed in the $1 billion ‘cash for clunkers’ bill, and less than a week of it running, the program has already run out of money once and received approval from both the House and Senate for another $2 billion. With Obama's signature today, the money is official, and available to buyers that haven't yet cashed in their clunker.

The additional funds come less than a week after confusing and conflicting messages about the program's possible termination from the White House and the Department of Transportation. The latest action by the Senate makes it clear that the government wants... That was quick. Just a month after President Obama signed in the $1 billion ‘cash for clunkers’ bill, and less than a week of it running, the program has already run out of money once and received approval from both the House and Senate for another $2 billion. With Obama's signature today, the money is official, and available to buyers that haven't yet cashed in their clunker. The additional funds come less than a week after confusing and conflicting messages about the program's possible termination from the White House and the Department of Transportation. The latest action by the Senate makes it clear that the government wants to see the highly popular program continue. The money will be taken from part of the $787 billion stimulus package approved earlier this year. Originally expected to last through the next several months at least, Ray La Hood, U.S. Transportation Secretary told Automotive News that the additional funding will extend the temporary program through Labor Day and spur about 500,000 new auto sales on top of the 250,000 already completed. Under the original program, owners of old cars that cannot achieve above 18mpg in their combined cycles were eligible for a $3,500 voucher from the government towards the purchase of a new car that is at least 4mpg more efficient. Up to $4,500 is available to those who improve their gas mileage figures by 10mpg or more. Trucks use a different system, where the new truck being purchased has to achieve at least 18mpg and also be 2mpg more efficient than the traded in vehicle. This gets owners the $3,500 voucher, while those improving their mileage by 5mpg get the full $4,500. Read More

German gearbox specialist ZF unveiled an 8-speed automatic gearbox at the Vienna Motor Symposium back in 2007 but this was just the first of a raft of advanced technologies the company is planning for the coming years. The addition of these new features are claimed to be able to improve fuel-economy by 18% on gasoline-powered vehicles and 30% on hybrids, and we should be seeing the first of these technologies as early as the 2010 model year.

The information comes from ZF vice president of corporate research Harald Naunheimer, who spoke recently with Automotive News. He said pushing the improvements are lighter materials, more efficient... German gearbox specialist ZF unveiled an 8-speed automatic gearbox at the Vienna Motor Symposium back in 2007 but this was just the first of a raft of advanced technologies the company is planning for the coming years. The addition of these new features are claimed to be able to improve fuel-economy by 18% on gasoline-powered vehicles and 30% on hybrids, and we should be seeing the first of these technologies as early as the 2010 model year. The information comes from ZF vice president of corporate research Harald Naunheimer, who spoke recently with Automotive News. He said pushing the improvements are lighter materials, more efficient electrical systems that replace heavier mechanical ones and transmissions with more gears. Naunheimer revealed that the new 8-speed automatic alone can improve overall vehicle fuel economy by 6% compared to current six-speeds. Additionally, an electrical power steering can boost fuel economy by 2 to 3% over current hydraulic systems, while an electric active roll stabilizer saves another 1 to 2%, he said. The savings don’t end there as ZF has also developed an engine stop-start system for its automatic gearboxes that improves fuel economy by up to 5%, while a light-weight AWD transfer case and fuel-efficient axles that use new bearings and technology to reduce friction can boost fuel savings 1 to 1.5% each. "You'll see these all these technologies on 2010 models," he said. As with any new technology in the auto industry, the first cars packed with the new features are usually flagship luxury models and it will be no different with the latest ZF gear. BMW will be one of the first automakers to launch a vehicle with ZF’s new 8-speed auto, but given the desperation of most automakers for improved fuel-economy we could be seeing most of these technologies filter to mainstream makes very soon. Read More