As GM readies its IPO pitch

According to The Wall Street Journal, members of the U.S. Treasury are worried about General Motors' upcoming IPO. They aren't concerned for the automaker's stock price, or how even how many investors may decide to buy into the company – they're concerned about what country the money is coming from.

The Journal suggests that government officials are considering whether to limit or select which non-U.S. investors would be invited to be so-called "cornerstone" investors in GM's IPO. Cornerstone investors are sought out to purchase and hold sizable stakes in a given company at a set share price. Said price is often lower than what the general investing public can secure, the theory being that the cornerstone investors' presence (and the stability it implies) serves to drive confidence in the company. The fear is that there could be considerable political fallout if, say, some of those cornerstone investors turned out to be from nations like China. Either way, GM will need to firm up its investment plan fairly quickly if it is to allow enough time to court the 'right' cornerstone buyers.

As GM readies its IPO pitch, another key element in the company's talking points will be its long-term stability – including a chief executive officer who plans to stick around a while. New GM CEO Dan Akerson has reportedly told the board that he'll stay at the helm for two to five years - or perhaps even longer. The manner in which his compensation agreement is structured will likely include incentives timed to take effect over a period of years as a way to show investors that he's serious about making a longer-term commitment to the automaker's recovery

Toyota and Severinsky settle hybrid patent dispute ahead of ITC hearing

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7-21-2010 07:47

2010 Toyota Prius – Click above for high-res image gallery
Following on the heels of our earlier report about yesterday's scheduled hearing between Toyota and Alex Severinsky at the International Trade Commission came word that the parties have settled. Neither side has released any details about the agreement – and they probably won't. Toyota had previously been found guilty of infringing upon Severinsky's patent, which centers around getting power to a vehicle's wheels with a gasoline-electric vehicle using both high- and low current.

In all likelihood, Toyota agreed to pay royalties to PAICE (Severinsky's company) for all of the hybrids it has sold and will sell in the United States until the patent expires in 2012. This means that the threat of a ban on imports of Toyota hybrids has been lifted – at least until the next case.

In related news, Ford has also settled with PAICE over hybrid patent issues. The details are confidential, but there's a bit more information after the jump.

[Sources: Bloomberg, PAICE]

PRESS RELEASE

Paice and Ford Reach Settlement in Hybrid Vehicle Patent Infringement Disputes

BONITA SPRINGS, Fla., July 16 /PRNewswire/ -- On July 8, 2010, Paice LLC and Ford Motor Company entered into an agreement for the license of Paice's U.S. Patent No. 5,343,970. Each company had filed a lawsuit against the other relating to that patent relating to certain Ford hybrid vehicles.

Based on this agreement, the lawsuits will be promptly dismissed, bringing an end to all patent infringement litigation between the two companies.

In a joint statement, executives from both companies jointly announced, "We are pleased to have reached an amicable resolution." The terms of the license remain confidential.

About Paice

Paice LLC is a U.S. technology company formed in 1992 to develop hybrid vehicle technology that promotes lower emissions, superior driving performance and fuel efficient operation of internal combustion engines. Through its inventive endeavors, Paice has obtained 11 U.S. patents related tohybrid vehicle technology, including a breakthrough patent (the '970 patent) that describes the use of high voltage in a hybrid automobile. Paice has demonstrated that using voltage as high as 500 volts or more is essential to achieving real efficiency in hybrid automobiles. A 2009 study ranked Paice's hybrid patents as the most dominant in the world. Paice has been involved in ongoing litigation with Toyota and federal courts have ruled that theToyota Prius and other hybrids are infringing on Paice's patented technology .

Nissan GT-R goes up in flames while parked in locked showroom

A Gainesville, Florida Nissan dealership received a most unpleasant surprise Monday morning as the dealer's showroom floor became engulfed in smoke, with some flames centered in one very unfortunate area. Now we're guessing here, but we would think that if the dealer could save any one vehicle from the fire, they'd pick the nearly $90,000 silver GT-R. Too bad they apparently didn't have time to make the decision.

The Gainesville Sun reports that the GT-R was engulfed in flames when police and fire arrived at the dealership a little while after it closed, burning up much of the vehicle's exterior. The last person to exit the building was the security guard, who did a quick check of the showroom and locked up. When firefighters arrived on the scene, they had to bust down a door to enter the building, and when they got inside, the GT-R was being served flambé-style.

Firefighters don't know exactly how or why the GT-R burst into flames. Reports suggest that there was a light that dropped to the ground, and that light could have started the fire, or it could have dropped as a result of the fire. We don't have any idea what happened to the GT-R, or whether or not it was even driven that day, but you can head over to Gainesville.com for more details and to see a picture of the carnage. Thanks for the tip, Justin!

Chevrolet's Sales Across the Pond Fall Flat

Russian connection: the sales of Chevrolet on the case Pond Flat


Chevrolet sales in Europe of 425,000 units in 2010 hopefully, away from evil, but not by nearly one million units, GM is looking for the next ten years. Reference, Chevrolet Europe, sales declined from a high of 500,000 in 2008.

A major problem in the design of GM Russia, which had been expected to overcome Germany as Europe's largest market in the near future. Automotive sales in the Russian market by 50% last year to 1.45 million in 2009.

Car Facts, a division of PriceWatwerhouseCoopers, explains: "The financial crisis has highlighted a number of structural deficiencies that the likely impact of future labor market."

Here's what the analysts say

Walt Madeira (CSM Worldwide):
Saying "I think that the 425,000 will be difficult this year. Anything over 375,000, I would say that it is very good, but are difficult to do. Long term, I would like, with 600,000 in 2015 or 2016 is likely.

"The [Russian] program of destruction is given to the constructor Russian Lada. Chevrolet sales forecast for a recovery to help in Russia. When a market with three million, which can then sell 300,000 and 350,000, but not seems his case. Russia is not restored as soon as China, Brazil or India. "

Professor Ferdinand Dudenhoeffer (Center for Automotive Research at the University of Duisburg-Essen):
"If they have better models?" No, because VW, Renault-Nissan, Kia, Hyundai, Fiat and many others are selling much better. They have a particular advantage in technology? "It's just GM. They have a better cost structure? No way ... in a few years are Chinese brands such as Geely and BYD in Europe. Will increase the sales of hunting Chevy driver. The brand is very weak."

Jonathon Poskitt (JD Power and Associates):
"If Russia moves forward, Chevrolet is evident from its strong presence there is no advantage. There is no room for the Chevrolet brand in Europe and the increase will help with the creation of a good portfolio of models and the introduction of new segments. .. I see with people coming from Chevrolet Hyundai / Kia, Fiat, Suzuki, Mitsubishi, Opel, etc. then compete. "

Chevrolet Europe's product range is the new city car Spark, Aveo small car, the Lacetti compact car, Epica sedan that, the Captiva SUV and the new Cruze.

Within the next two years, GM, the company to improve the line-up with the next generation Aveo, which Orlando MPV and the Chevy Camaro, which will be the show car.

Anyone with ideas to promote, as Chevrolet in Europe, leave your ideas in comments below.

Citroen's DS High Rider Study in the Flesh

While the Survolt sports car concept is definitely the most impressive vehicle at Citroen's Geneva Show booth, the big news for the French firm is the DS High Rider study, a thinly veiled version of the forthcoming DS4 crossover expected to be launched in early 2011.

Part hatchback, part crossover, the DS High Rider combines styling elements from its smaller DS3 sibling and the 2005 C-SportLounge concept with more muscular details, a gently sloping roof line and a higher ride height.

The four-seater, three-door hatchback model uses the new C4's platform, itself due to be launched at the Paris Show this fall. At 4.26m long, 1.82m wide and 1.48m tall, the DS High Rider slightly shorter but wider and taller than the current C4 Coupe.

The concept study uses the PSA Peugeot-Citroen group's full diesel hybrid system combining an HDi engine up front with an electric motor located on the rear axle.

This arrangement allows for any combination of front- (diesel engine only), rear- (electric motor alone) or all-wheel drive (using both the diesel and electric motor).

The production version of the car will be available with conventional gasoline and diesel engines, and quite possibly, with the diesel-hybrid system as Citroen has made it clear that this drivetrain will be available in a series of models starting from 2011.

2010 Detroit Auto Show Photo Gallery

Contrary to what I may have said about the 2010 Detroit Auto Show being somewhat dismal, that does not mean 2010 will be a sub-par year.
There are still plenty of great cars coming outthis year! For instance, after touring Cobo Hall, there are two particular autos that I am very interested in and I am eager to get behind the wheel. As a matter in fact, these may be the two out of four cars I sat in at the show.

Nothing else got my blood pumping.

And after driving just about everything you can imagine, I must admit, it takes a lot to muster up some excitement these days.


2010 Detroit Auto Show Photo Gallery



The first vehicle is the 2011 Mercedes-Benz SLS AMG "Gullwing." Yes, I am a sucker for the Gullwing doors. Although I have never attempted, something tells me I could never fit into the classic 1950s Gullwing -- being 6'8 -- so, this is as close as I will ever get.

Additionally, the SLS is the first Benz to be produced at AMG from the ground up; this means it will be jam packed with the most up to date technology and advancements from the AMG division. Featuring a 6.3 liter V8 churning out 563-horsepower and 479 lb-ft of torque it is the most powerful naturally aspirated engine in production. Uh, awesome?! Why wouldn't you want to drive this?

Although getting in it is a bit goofy -- duck under the door, step over the HUGE door sill and twist into the seat -- once you are in, it is like a glove. The seats wrap around you and once you close the door, the essentials are surrounding you like a cockpit should.

And, the best part, I fit!

Moving along...


2010 Detroit Auto Show Photo Gallery



My second pick, without a doubt, has to be the Lotus Evora. By far one of the coolest designs to emerge in 2009, the Evora channels some cues from the Lancia Stratos and has one of the most gorgeous interiors known to man. It's exterior is akin to pornography and the interior is a hip-looking, posh lounge.

Aside from looking damn good, it has a mid-engine layout that will be equipped with a V6 pushing out 276-horsepower and 252 lb-ft of torque. Not to mention it is a Lotus, so that means two things will be prominent. 1) It is lightweight, coming in just under 3,000 pounds. 2) If it is a proper Lotus, it will handle like it is on rails.

After the Elise/Exige made its way stateside and revived the brand, after the cult classic Esprit, this car is theoretically the daily driver with a bit more room and sophistication. But, after getting a look at it in the flesh, it appears to be more of a two plus none.

Regardless, I am optimistic about giving this car a thorough work out.

What are some NEW cars that YOU want to drive in 2010? Voice your opinion here on AutoSpies...

2010 Detroit Auto Show Photo Gallery

the now more modern BMW line-up

With every new model launched or redesigned, comes another photos comparison. the week revolves around the 2011 BMW 3 Series Coupe and Convertible LCI that was unveiled yesterday and which will go on sales this Spring.

Judging by the photos and information released, the general consensus is that BMW is looking to align some of its models to the current design language, and features like “angel eyes” are starting to become standard across the line-up. LED taillights are also becoming the norm at BMW and the new 3 Series LCI comes to emphasize that.

Exterior:

Regarding the exterior of the car – BMW, like they did with the pre-LCI E92, have managed to make the E92 continue to look much more expensive than it actually is. The facelifted E92 continues to give a strong balance between prestige and performance purely in appearance alone.

Additionally, at front and rear, while the revisions appear minimal, the proof is in the details. At the business end of the 3 Series Coupe, the head lamps have grown slightly with added contours to the bottom line of the head lamp assembly. A thin “eyebrow” can now be found running along the top of each assembly which is lit by LEDs – a design cue taken straight from the E90 LCI, F01 7 Series and F10 5 Series.

Dropping just below the head lamps, the lower bumper is the most heavily modified part of the E92 LCI, losing the struts that flowed with the cut lines of the nose of the car. In its place, BMW have added a slim cut straight across the center of the lower grill, only being broken up by the area just below the larger, wider double kidney grill. Overall, the appearance of the E92 LCI now looks more succinct with the rest of the now more modern BMW line-up.

Moving to the rear of the car, the lower portion of the bumper receives a larger, purposeful crease along the valence just above the exhaust. The L-shaped tail lamps also receive a mild facelift with a more opaque cover to the LEDs when compared to the pre-LCI E92.

Additionally, the pattern of the rear lamp LEDs has two stacked sets of LEDs to provide better visibility at night while also providing a distinctly BMW look. By comparison, the LCI E92 now looks much brighter and contoured over its predecessor.

The side design goes through some changes as well, the E92 LCI features longer overhangs and subtle changes to the side skirts, giving the facelift an overall more aggressive, masculine look.



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