Friday May 01, 2009

Honda may develop plug-in hybrid cars as Obama alters US policy

bloomberg.com :

Honda, which sells the FCX Clarity hydrogen car, may also develop plug-in electric models as US policy shifts to favor battery-powered autos. US President Barack Obama has announced no new federal effort to promote hydrogen. Honda still sees hydrogen as the best long-term alternative that can cut carbon exhaust tied to global warming, Honda President Takeo Fukui said. Still, the company will respond to a push by the Obama administration for carmakers to sell plug-in hybrids. "Oil prices are going to go up. When that time comes, fuel cells, solar panels, hydrogen, those will be the key words," Fukui said. "We will have packages that will be very competitive at that time."

General Motors, Toyota and Nissan, and startups Tesla and Fisker are rushing out plug-in hybrid cars as the US moves to tighten fuel-economy and greenhouse gas rules. Honda has yet to announce plans to sell one, citing high costs for the lithium-ion batteries needed to power them and poor range. Honda last week began building a lithium-ion battery factory with joint-venture partner GS Yuasa to make packs for gasoline-electric hybrid cars. Honda plans to produce the vehicles in late 2010.

- And I was wondering where was Honda's PHEV policy. Now with Honda officially in the plug-in hybrid game, being one of the last major car-makers to announce their PHEV plans, the race for market share is on. Now all we need to change the entire global vehicle fleet and transport infrastructure to run on electric power is around 30 years, $45 trillion, and a lot of luck.

See also :

1. Peakoiler buys 2008 Honda Civic Hybrid FD3
2. 2010 Honda Insight specifications released : 41 mpg, 1.3L, 98hp, i-VTEC, CVT
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid

(2009-05-01 12:43:54 SGT) [Energy] Permalink

Chrysler files for bankruptcy, enters Fiat deal

This article belongs to the GM, Ford and Chrysler bankruptcy watch story arc.

news.yahoo.com :

Chrysler filed for bankruptcy, a first by a major US automaker, on Thursday [30 Apr 2009] and announced a deal with Fiat, after being pummeled by sliding auto sales and unable to reach agreement on restructuring its debt. Chrysler has struggled in recent years to compete, hurt by its near total reliance on the US market, poor quality and a truck and SUV-dominated vehicle line-up with the lowest combined fuel economy of any major automaker.

Chrysler entered an alliance with Fiat, which was given an initial stake of 20%. Over time, Fiat could eventually own 51% after Chrysler has repaid its US Treasury loans. Chrysler will also be 55% owned by the United Auto Workers' healthcare trust fund while the US and Canadian governments hold a combined stake of 10%.

- Here we go. The contrarians and peakoilers have been tracking this one for years, and a conclusion of sorts has been reached. But then it did not turn out quite like the community had earlier expected, however. When the news back then was of a "struggling Fiat", it would have taken quite a twist in the plot to turn Fiat into some kind of "white knight" to rescue the ailing Chrysler. And look how fast Daimler of Mercedes fame got rid of its remaining Chrysler stake on 27 Apr, with Chrysler going bankrupt 3 days later. This bankruptcy has been a long time coming, but things certainly move fast, once they really get started moving.

Up next, GM. And possibly Ford. So who are they going to reach deals with, Citroën and Volkswagen?

See also :

1. GM, Ford, Chrysler face bankruptcy risk on crisis : S&P
2. GM risks bankruptcy as it runs out of cash, losing $73 billion since 2004, suspends Chrysler merger
3. GM, Chrysler may go bankrupt after Senate rejects auto bailout plan as talks collapse
4. GM said to speed bankruptcy plans
5. Chrysler to proceed with bankruptcy

(2009-05-01 08:41:53 SGT) [Biz] Permalink

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