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Tesla Motors Goes Public

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The hype around Tesla Motors has certainly paid off. As Tesla went public, their stock prices have done better than originally planned. Under the ticker symbol TSLA, the Silicon Valley company’s stock opened at $17 (going up as high as $19), above the anticipated range of $14 to $16.

The company hoped to raise up to $178 million by selling 11.1 million shares, but has done better than anticipated by raising over $220 million in funding by selling 13.3 million shares. Including investments from Daimler and Toyota, and receiving a $465 million loan guarantee from the U.S. Department of Energy to build a factory, Tesla is on its way to becoming a leader in electric cars.

Tesla is best known for their first and only electric car, the $109,000 Roadster, which was introduced in 2008. Selling only about 1,100 of the cars worldwide to the rich and famous. With the IPO proceeds, the company will fund production of the company’s new vehicle, the Model S sedan, which is expected to sell for about $57,000. A federal tax credit of $7,500 for electric cars would cut the price to just under $50,000. The commercial launch is planned for 2012.

Recall For Lexus HS 250h Hybird

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Toyota Motor Corp. has stopped the sales of and will be recalling its 2010 Lexus HS 250h hybrid. The National Highway Traffic Safety Administration ordered the recall after finding that the vehicle would leak more than the allowable fuel in a rear end collision of about 50 to 80 km.

Toyota conducted tests to verify that the Lexus hybrid was in compliance with federal safety standards before releasing the vehicle, and no problems with the fuel tank were found. Because more than 142 grams of fuel spilled in the tests conducted for the NHTSA, Toyota will attempt to replicate the test to determine why the tank leaked, which will allow it to develop a remedy.

Toyota is not aware of any incidents or accidents resulting from the defect in the HS, but once a fix is found, Toyota will notify HS drivers to bring their vehicles in for repair.

Hydrogen Cars – Still An Option?

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It seems that lately there has been much talk about the electric car. The automobile companies have been investing large amounts of money into electric cars with the hopes of becoming the leaders in the industry. The installation of more charging stations has not only made it more convenient to charge an electric car, but the installation of solar charging stations has made the drain on the power infrastructure less of a problem.

Still, the hydrogen car lurks in the background. Tucked away on the Torrance campus behind a security guard and a locked gate, a system designed to power Honda’s limited-production FCX Clarity sedan and other hydrogen fuel-cell vehicles uses solar panels to power a machine the size of a mini-refrigerator. This system converts water into hydrogen and oxygen gases and then pumpes the hydrogen directly into the car. No fossil fuels, no pollution, no additional strain on the power grid — and all done at home. It’s called a residential hydrogen refueler, and only one currently exists. According to statements from automakers like Honda, General Motors, Toyota, and Mercedes they hope to begin selling hydrogen-powered production cars to consumers as early as 2015.

Other hydrogen fuel-cell cars, only available by lease, exist. Made by GM, Toyota and Mercedes, most of the lessees are in “station clusters,” specific geographic areas that have hydrogen fueling stations. It’s the scarcity of these hydrogen stations that’s seen as one of the biggest barriers to mass adoption of fuel-cell cars.

The installation of these residential hydrogen refulers would solve this problem, but at what cost? Honda won’t say, but it’s a promising technology that advances the trend toward consumers detaching from a fossil-fuel economy and becoming more self-sufficient. It’s a future in which American homes are less reliant on a large-scale infrastructure — power grids, and water districts — and provide at least some of the solutions themselves via solar panels, gray-water systems, rainwater harvesting and home-based car-refueling technology.

Volkswagen Recalls 2009 Routan

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Volkswagen is recalling some 2009 Routan vehicles manufactured from June 2008 to July 2009. These vehicles could have an improperly routed wire harness that could rub on the sliding door creating a short which could lead to a fire within the door.

Volkswagen will inspect the wire assembly for damage and replace and re-route it as necessary free of charge. The recall is expected to begin June 2010. Owners may contact Volkswagen at 1-800-822-8987.

Chrysler Recalls 2010 Dodge Callibers

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Chrysler has announced a recall for some 2010 Dodge Caliber vehicles due to an incorrect lock rod installed in the front door. The door could unlatch when the window is rolled down resulting in an accident. Dealers will inspect and replace the front right door lock rod as required free of charge. Owners may contact Chrysler at 1-800-853-1403.

GreenRoad Technologies Saves Companies Money

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Launched in 2003, The California-based GreenRoad Technologies Inc.®, provides a cost-effective service that helps reduce emissions, vehicle wear-and-tear and helps save lives. While billions have been invested in building safer and more fuel efficient vehicles and roads, virtually nothing was being done to address what contributes to wasted fuel and 90% of all crashes… driver behavior.

After four years of extensive testing in more than one million driver trips, GreenRoad’s comprehensive service is proven to be effective, especially in the commercial fleet industry. GreenRoad responds to unsafe and inefficient driving by enabling commercial fleets, insurers and consumers to measure, improve and sustain safe and fuel-efficient driving behavior. GreenRoad continuously measures and analyzes maneuvers which most impact safe driving, fuel efficiency and emissions and positively motivates drivers to change their behavior behind the wheel. Constant reinforcement in the form of a simple red-yellow-green display encourages them to maintain improvements. Fleet management and risk and safety professionals gain complete visibility into driving behavior and have easy-to-use tools they need to help drivers achieve safety and fuel-efficiency goals. Customizable, Web-based and e-mail reports provide individual trip detail, risk analysis and coaching to help drivers maintain improvements.

More than 70 industry-leading fleets in trucking, public transit, telecommunications, service delivery and public safety, have implemented the GreenRoad service and are realizing sustained improvements in the safety and fuel efficiency of their fleets.

Regulations For Auto Dealers Financing

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Consumer advocates say more government supervision is needed when it comes to auto dealers financing automobiles for consumers. Next week, a joint congressional committee will be discussing exactly that, as they head into the final stages in overhauling financial regulations.

Dealers that offer financing say they are helping buyers secure the best loans, and that abuses are rare and covered by anti-fraud regulations enforced by state officials and the Federal Trade Commission. But, Tom Domonoske, a Virginia attorney who works on auto financing issues says that while dealers are shopping for the best rates, they often don’t pass the savings on to the consumer. Dealerships have been giving good deals on purchase prices, but have been trying to boost their incomes through service contracts and auto financing. Some say, resorting to questionable tactics.

Auto dealers are fighting back saying it is unnecessary and will add to their costs, ultimately driving up prices for consumers. Last year they successfully persuaded the House to exempt them from oversight by the proposed consumer protection agency, but with strong opposition from the Obama administration, who said members of the military often complain about getting ripped off in buying cars.

After settlements in a series of auto financing discrimination lawsuits in the 1990s, dealers say they agreed to cap their cut at 2% of the amount financed. California is one of the few states with a legal cap on that difference — 2.5% for loans up to 60 months and 2% for longer loans.

Consumer advocates argued that auto dealers are similar to mortgage brokers — making deals with consumers, pocketing a profit and then selling the loans to banks. Mortgage brokers would be covered by the new agency and so should auto dealers.

Summertime Driving Safety

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The summer holidays are just about here and everyone is looking forward to vacations and summertime activities. Unfortunately this also means an increase in accidents and injuries. Inexperienced teen drivers will be spending more time on the roads, children out of school will be spending more time outdoors, there will be an increase in RV’s, bikes, and motorcycles on the roads, and in general, a greater hub of activity everywhere.

  • Safe driving practices are the best way to deal with increased traffic. Try to stay calm, drive at a safe speed and be courteous to other drivers. Speeding, tailgating, weaving in and out of traffic and not yielding the right-of-way can lead to collisions.
  • Make sure everyone in your vehicle is buckled up, and babies and young children are in car seats or booster seats. Proper use of seat belts and child car seats is the best way to reduce vehicle-related injuries and fatalities.
  • Summer also brings increased construction on roads and highways. Keep road workers safe by being prepared to stop and slow down in construction zones. Keep your gas tank full, in case you need to change your route or are caught in traffic along the way.
  • People driving RV’s and trailers are usually inexperienced with such a large load. Take extra precaution while driving these vehicles, and give them the room they need to maneuver. Don’t let items block your view of the road, make sure loads are securely tied down, and slow down.
  • Make sure your vehicle is in good running condition before your go. Always keep a roadside emergency kit and a first aid kit for emergencies.
  • Plan your route before you go. If you don’t have someone to read the map or GPS for you, pull over if you need to review your route. Distractions behind the wheel greatly increased your chance of an accident.
  • Give yourself plenty of time to get where you’re going and if you become tired, stop to rest and stretch your legs. It’s better to arrive late than not arriving at all.
  • Finally, Don’t Drink And Drive!