M&M WINS BID FOR ACQUISITION OF SOUTH KOREAN SUV GIANT - SSANGYONG MOTOR C

Mumbai - Mahindra & Mahindra Ltd. (M&M), India's leading manufacturer of utility vehicles, emerged as the preferred bidder for the acquisition of a majority stake in South Korean SUV maker, Ssangyong Motor Company (SYMC). The preferred bidder status would require it to enter into a Memorandum of Understanding with SYMC, followed by a detailed due diligence process.

SYMC is a Korean manufacturer of auto and aggregates, with 7 models under 5 brands. The 7 models include 2 large sized sedans, 4 SUVs and 1 MPV. It also has a manufacturing plant for gasoline and diesel engines as well as axles. SYMC is a significant player in the SUV segment in Korea, having recorded 1.3 million SUV sales from 1990 to 2009. It has a strong brand and presence in Europe, Russia, South America, the Middle East, Africa and Asia. Established in 1962, SYMC has more than 1,200 dealers globally. It has R&D manpower strength of around 600 people and modern R&D infrastructure for design, testing and validation.

This strategic acquisition, when concluded, would make Mahindra and SYMC together a force to reckon with in the global SUV space. It is intended that SYMC will continue to function as an independent entity with Korean management.

"Korea is one of the world's leading centres of automotive excellence and Ssangyong brings with it a rich legacy of R&D and innovation. Mahindra and Ssangyong will create synergy, which will make us significant global players," said Mr. Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group.

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Mahindra plans to launch new auto models in Sri Lanka

The $7.1 bn Mahindra Group, one of India's leading business houses revealed its plans to launch new models to augment its presence in the automobile market in Sri Lanka.

"In keeping with our long term plans for this region, we are soon going to enhance our current product portfolio in the market with the launch of several new products, including the Maxximo, a technologically modern sub 1 tonne pick up and HCVs (Heavy Commercial Vehicles)", Group's Vice Chairman and Managing Director Anand Mahindra said.

Mahindra added the company was also studying the possibility of introducing an electric car, the Mahindra Reva, in Sri Lanka in future.

Mahindra has already established a base in Sri Lanka where it has been selling its range of tractors and utility vehicles for over a decade.

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ZERO RACE BEGINS - ELECTRIC VEHICLES RACE AROUND THE WORLD IN 80 DAYS

Although it may sound like a Hollywood movie, it isn’t. The first race for electric vehicles is finally underway. Touted as the “longest and greenest” race around the world, teams from four nations are travelling the world for 80 days in the first ever Zero Race.

On August 16th, three two-person teams departed from the United Nations Palais des Nations in Geneva, Switzerland. South Korea encountered technical problems over the weekend and was unable to start in Geneva but joined the others later.

The teams are required to produce their own electricity using renewable resources. According to the website, the electricity must be “fed into the grid system in the home country of each team, so that during the Zero Race, the equivalent can be harnessed to power the vehicles on their worldwide journey.”

Zero Race Teams:

1. Power Plaza Team from Seoul, South Korea – Power Plaza EV
2. Orlikon Solar Racing Team from Winterthur, Switzerland – Zerotracer
3. Team Trev from Adelaide, Australia – TREV
4. Vectrix Team from Berlin, German – Vectrix
    

Zero Race Eligibility Requirements:

• Must be able to carry at least two passengers
• Reach a maximum distance of 500 km each day with a recharge stop of 4 hours during lunch
• Must be propelled by an electric motor
• Drive at least 250 km at an average speed equal or above 80 km/h.

Vehicles will be judged on reliability, power and speed, energy efficiency, safety, design and popularity from the general public.



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Duke shows off sexy electric vehicle

Duke Energy is introducing its customers to electric vehicles with a $120,000 pocket rocket that shoots from zero to 60 mph in 3.7 seconds.

Duke leased its Tesla Roadster Sport about a month ago and will show it off to the public at community events, conferences and so on. The sleek sports car is at the luxe end of EV production that will include the Chevy Volt, to be released in October, followed by the Nissan Leaf rollout early next year.

Mike Rowand, Duke’s technology strategy director, guided the silver Tesla onto Interstate 240 this afternoon – then, ever so briefly, floored it. The car instantly leapt to full torque with a not-quite-silent whine, pressing a passenger’s back into the black leather seat.

“You come away with a Tesla smile” with that kind of acceleration, Rowand said. Regenerative braking quickly slowed the car, capturing the energy normally lost in braking and storing it in the lithium-ion batteries.

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Top energy firms form electric vehicle industrial union with automaker

Top energy firms in China, including CNPC, Sinopec, CNOOC, State Grid, China South Power Grid and other 11 big names in industries of auto-making, equipment manufacturing and information technology, are uniting themselves to form an industrial association for the development of electric vehicles (EVs) businesses.

Other big names include China FAW Group Corporation, Dongfeng Motor Corporation, China Changan Automobile Group Corporation Limited, Dongfang Electric Corporation Limited, China South Locomotive & Rolling Stock Corporation Limited, Beijing General Research Institute for Nonferrous Metals, Aviation Industry Corporation of China, China Aerospace Science and Technology Corporation, China Aerospace Science and Industry Corporation, China Potevio Corporation Limited and China Poly Group Corporation.

The EV related businesses cover electric vehicle manufacture, battery for EVs, and electric power recharging service stations.

China National Petroleum Corporation (CNPC), China's largest oil and gas producer, for the first time becomes involved in the EV business.

CNPC has adopted a programmatic strategy when it faces temptation over the brilliant prospect of new energy sector.

The company has adhered to operations such as coal-bed methane (CBM), fuel ethanol, shale gas and oil sands, which are regarded as more relevant to its major operation as an integrated oil and gas company.

Prior to the release of such list, it has never shown much interest in electric vehicle operation.

However, as the second largest oil service station holder, CNPC runs some 18,233 oil service stations across China, while Sinopec, the largest oil refiner, owns 28,812 such stations, compared with the country's total 95,740 stations.

For oil companies like CNPC and Sinopec, they have very extensive service networks based on the existing oil service stations. It could be easier for them to spend less on equipping the current oil service stations with electric power recharging devices.

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China To Best U.S. in EVs But Not Hybrids

The Chinese government announced it will spend $14.7 billion through 2020 on alternative drivetrain vehicles, with the bulk of the money going towards all-electric vehicles, according to news reports quoted by Edmunds.com's Green Car Advisor.

That's a greater outlay in consumer subsidies, industry incentives and spending on charging infrastructure than in the U.S. which (for now) boasts a much larger economy. The Chinese government would like 5 million alternative-fuel vehicles to be on the roads by 2020.

The U.S. government has committed more than $2.5 billion in incentives for battery makers, consumer purchases, and for charging infrastructure, but won't come close to the Chinese commitment in future years. Not all of that money is bearing fruit. The DOE gave A123 Systems a $249 million grant last year to manufacture lithium ion batteries in Michigan, ostensibly for electric vehicles under contract to Chrysler. Last week A123 Systems ended its work with Chrysler and is now focusing more on batteries that provide energy storage for the grid.

Pike Research projects that between 2010 and 2015 China will have 1.85 million hybrids and EVs sold , with slightly more EVs (1 million) on the road. In the U.S. more than 2.3 million hybrids will be sold during that time, and 840,000 plug-in and all- electric vehicles.

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Tata Motors to Debut Two Electric Vehicles in Europe by Next Year

Tata Motors is a lot of things--India's largest car manufacturer, producer of the $2,000 car (the Nano), and designer of the world's cheapest high-rise apartments. Now it appears that Tata can add another title to its ever-growing list: mainstream manufacturer of electric vehicles. Edmunds reports that Tata is planning to launch two electric vehicles in Europe by March of 2011.

The vehicles, set to launch first in the U.K. and Scandinavia, will reportedly include a variation of the Indica Electric as well as the Ace commercial mini-truck. The lithium-ion battery-equipped vehicles boast ranges of 120 miles and 110 miles per charge, respectively. 

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Around the World in 80 Days in Electric Vehicles

A group of environmentalists set off from Geneva, Switzerland, traveling in electric vehicles for an "Around the World in 80 Days" trip Monday, CRI reports.

The global tour, named "Zero Race," aims to promote emissions-free transportation and November's world climate conference.

It was organized by Swiss schoolteacher Louis Palmer and won support from the United Nations Environment Program.

Four teams from Switzerland, Germany, Australia and South Korea will join the 30,000-meter excursion, which will take them to 16 countries and 150 cities in the world.

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Mahindra FirstChoice inaugurates 2 new SuperStores in Hyderabad; launches first 2S showroom in India

Mahindra First Choice Wheels, India’s leading multi-brand pre-owned car company, today expanded its Southern footprint with the launch of two new SuperStores in Hyderabad. The company also inaugurated the very first 2S showroom in India. All three outlets were inaugurated by Mr. Rajeev Dubey, President (HR, After-Market & Corporate Services) and Member of the Group Executive Board, Mahindra & Mahindra Ltd.

“We are delighted to add two new SuperStores to our existing network in Hyderabad. SR Wheels and Mint Motors are noted names in the automobile industry in Andhra Pradesh and will help expand our business in the region.

As the leaders in the pre-owned car business in India, we are constantly endeavouring to provide our customers with new services which will provide them with greater value and convenience. Naidu Motors is a 2S showroom which implies that it will function as a one stop shop for all those who not only wish to buy or sell a car but also want to get their vehicles serviced / repaired. This is part of our strategy to leverage synergies between our three divisions - Sales, Service and Spares - which will create a robust eco-system for the pre-owned car market,” said Mr. Rajeev Dubey, President (HR, After-Market & Corporate Services) and Member of the Group Executive Board, Mahindra & Mahindra Ltd.

“Our SuperStore, including the parking area, is spread over 18000 sq foot and will display a wide variety of cars, catering to a range of budgets. Services offered at SR Wheels will include purchase and sale of pre-owned cars, car finance and insurance, a commitment card which will cover both 24X7 roadside assistance across the country, as well as a conditional warranty on pre-owned cars, accessories and RTO transfer.” said Mr. Rajkumar T., SR Wheels.

“We are delighted to partner with Mahindra FirstChoice and provide customers in and around Hyderabad with a wide variety of options through our superstore. The SuperStore format has found favour with consumers in several cities across India, including Mumbai and Pune and we aim to replicate this success in Hyderabad,” said Mr. Veera Reddy, Mint Motors.


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Is It Time for a Vehicle Diet?

When thinking about electric vehicles, the first barrier that comes to mind is driving range. Unfortunately, when addressing this problem, we focus on improving and expanding battery technology at all cost, without questioning the underlying cause of the problem.

In a recent article, Michael Potts, CEO of the Rocky Mountain Institute (RMI), highlighted that very problem:

"Between 75 and 90 percent of the energy we consume is wasted due to bad design and poor choices. We live in a world where energy has been so cheap for so long that very few people have paid attention to it, and most of our energy services are delivered in a sloppy, inefficient manner."

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16 Chinese central companies form Electric Vehicle Industry Alliance

The Electric Vehicle Industry Alliance, which consists of 16 Chinese central companies and is led by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), was founded in Beijing on August 18.

The alliance's short-term goal is to promote the unification of electric car-related technologies, and its medium and long-term goal is to master the core technology for electric vehicles and build internationally competitive Chinese electric car brands, according to the Shanghai Securities News.

Analysts believe that compared to the Union of Electric Vehicle Manufacturers, which is made up of the top 10 Chinese automakers and led by the China Association of Automobile Manufacturers, the Electric Vehicle Industry Alliance, an official organization launched by the SASAC, will play a greater role in promoting collaboration among different companies and integrating the resources of the electric car industry.

The alliance members include automakers China FAW Group, Dongfeng Motor Corporation and Chang'an Automobile Group and 13 central companies, such as Dongfang Electric Corporation, China South Locomotive and Rolling Stock Corporation, China National Offshore Oil Corporation, China Aerospace Science and Industry Corporation, State Grid Corporation of China, China Petrochemical Corporation and China Southern Power Grid Company.

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Spain fails to take on electric charge

Spanish motorists have bought just 15 electric cars this year, but Irish electric car firms say they are not worried, writes PADDY COMYN 

PROMOTERS OF electric cars in Ireland say they don’t believe they’ll face a tough sell to Irish consumers, despite news that there has been a very poor reaction to electric cars in Spain.

Just 15 plug-in electric cars have been sold this year in Spain, a long way short of the target of 2,000 set by the industry ministry for the year. In April, Spanish prime minister José Luis Rodríguez Zapatero announced that his government would invest €590 million promoting and developing electric cars over the next two years.

It was hoped that 20,000 electric and hybrid vehicles would be sold by 2011 – including the 2,000 all-electric cars – with a long-term objective of having 250,000 electric and hybrid vehicles in circulation by 2014.

A subsidy scheme of €80 million is already in place to encourage sales, with the government funding 20 per cent of purchases, up to €6,000 per electric car.

In May 2009 it had been announced that 550 of the Norwegian-built Think electric vehicles were to be delivered to Spain in early 2010 as part of a memorandum of understanding it had signed with its Spanish partner Going Green.

Over a year later, just 15 have been sold, delivered for a car-sharing program in Atuan, Spain. The government-backed REVE electric car and wind power project said on its website that it expects the situation to improve quickly: “The figures are similar to what happened in the beginning with personal computers or mobile phones. The first models are expensive and with few options and initial sales were low.”

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