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Found 12 results

  1. Lawsuits are fun as they bring forth documents that reveal the internal workings of a company. Case in point is a securities case against Fiat Chrysler Automobiles. Earlier this week, lawyers filed excerpts of an email from CEO Sergio Marchionne to Gualberto Ranieri, the company’s U.S. spokesman sent in 2015. According to Reuters, the email reprimanded Ranieri for making comments about how the company doesn't use defeat devices in their vehicles. “Are you out of your goddam mind?” wrote Marchionne in the email. Marchionne also wrote that Renieri's actions were “utterly stupid and unconscionable” and that he should be fired. In a statement provided to Reuters, FCA said it was “understandable that our CEO would have a forceful response to any employee who would opine on such a significant and complex matter, without the matter having been fully reviewed through its appropriate channels.” The statement goes onto say the Ranieri's comments come only a few days after it was revealed Volkswagen used defeat devices in their diesel vehicles “and before a comprehensive internal review and discussions with component suppliers was possible.” The lawsuit against FCA was filled back in 2015 over allegations of defrauding investors by overstating its ability to comply with vehicle safety laws. The company downplayed various safety problems that helped inflate their stock price from October 2014 to October 2015. However, FCA would be fined by the National Highway Traffic Safety Administration over lapses in various vehicle recalls. An amended version of the lawsuit that claims the company did not fully comply with emission laws was filed last year. Source: Reuters
  2. Lawsuits are fun as they bring forth documents that reveal the internal workings of a company. Case in point is a securities case against Fiat Chrysler Automobiles. Earlier this week, lawyers filed excerpts of an email from CEO Sergio Marchionne to Gualberto Ranieri, the company’s U.S. spokesman sent in 2015. According to Reuters, the email reprimanded Ranieri for making comments about how the company doesn't use defeat devices in their vehicles. “Are you out of your goddam mind?” wrote Marchionne in the email. Marchionne also wrote that Renieri's actions were “utterly stupid and unconscionable” and that he should be fired. In a statement provided to Reuters, FCA said it was “understandable that our CEO would have a forceful response to any employee who would opine on such a significant and complex matter, without the matter having been fully reviewed through its appropriate channels.” The statement goes onto say the Ranieri's comments come only a few days after it was revealed Volkswagen used defeat devices in their diesel vehicles “and before a comprehensive internal review and discussions with component suppliers was possible.” The lawsuit against FCA was filled back in 2015 over allegations of defrauding investors by overstating its ability to comply with vehicle safety laws. The company downplayed various safety problems that helped inflate their stock price from October 2014 to October 2015. However, FCA would be fined by the National Highway Traffic Safety Administration over lapses in various vehicle recalls. An amended version of the lawsuit that claims the company did not fully comply with emission laws was filed last year. Source: Reuters View full article
  3. When Tesla finally revealed the Model 3 a couple weeks, we learned about a number of items such as max range (220 or 310 if you opt for the larger battery), how fast they hit 60 mph, and what will come standard. What wasn't talked about was how big the battery was and power figures. Thanks to some EPA documents, we have some idea on both. InsideEVs found some preliminary documents dealing with the long-range Model 3 and figured out that has an 80.5-kilowatt-hour battery pack - the document says it is a 230 Ah battery pack with 350 V nominal voltage. We should note that CEO Elon Musk has said previously that the Model 3 could not take anything larger than a 75-kWh battery. But, InsideEVs says Musk could have been referring to useable, not the max capacity of the pack. We also have learned that the long-range Model 3 produces 258 horsepower. Sadly, no torque figure was given in the documents. Source: InsideEVs
  4. When Tesla finally revealed the Model 3 a couple weeks, we learned about a number of items such as max range (220 or 310 if you opt for the larger battery), how fast they hit 60 mph, and what will come standard. What wasn't talked about was how big the battery was and power figures. Thanks to some EPA documents, we have some idea on both. InsideEVs found some preliminary documents dealing with the long-range Model 3 and figured out that has an 80.5-kilowatt-hour battery pack - the document says it is a 230 Ah battery pack with 350 V nominal voltage. We should note that CEO Elon Musk has said previously that the Model 3 could not take anything larger than a 75-kWh battery. But, InsideEVs says Musk could have been referring to useable, not the max capacity of the pack. We also have learned that the long-range Model 3 produces 258 horsepower. Sadly, no torque figure was given in the documents. Source: InsideEVs View full article
  5. Weeks before the Volkswagen diesel emission scandal came to light, several executives were reportedly warned about the possible costs during a meeting. German tabloid Bild am Sonntag reports that Oliver Schmidt, a Volkswagen executive that was arrested earlier this year in U.S., said the costs of diesel emission cheating could cost the company up to $18.5 billion during a presentation held on August 25, 2015. Those that attended the presentation included former Volkswagen CEO Martin Winterkorn, VW's development chief at the time Heinz-Jakob Neusser, and Volkswagen brand chief Herbert Diess. This information comes from U.S. investigation documents obtained by the paper. The issue at hand is that German law requires a company publish any news dealing with the stock in a timely fashion. Volkswagen notified investors about the cheating on September 18, almost a month after this reported meeting. A number of Volkswagen investors have filed suit against the company due to the losses from the diesel emission scandal. German prosecutors are also investigating Volkswagen into possible market manipulation. Source: Bild am Sonntag via Reuters
  6. Weeks before the Volkswagen diesel emission scandal came to light, several executives were reportedly warned about the possible costs during a meeting. German tabloid Bild am Sonntag reports that Oliver Schmidt, a Volkswagen executive that was arrested earlier this year in U.S., said the costs of diesel emission cheating could cost the company up to $18.5 billion during a presentation held on August 25, 2015. Those that attended the presentation included former Volkswagen CEO Martin Winterkorn, VW's development chief at the time Heinz-Jakob Neusser, and Volkswagen brand chief Herbert Diess. This information comes from U.S. investigation documents obtained by the paper. The issue at hand is that German law requires a company publish any news dealing with the stock in a timely fashion. Volkswagen notified investors about the cheating on September 18, almost a month after this reported meeting. A number of Volkswagen investors have filed suit against the company due to the losses from the diesel emission scandal. German prosecutors are also investigating Volkswagen into possible market manipulation. Source: Bild am Sonntag via Reuters View full article
  7. Over a week ago, we brought you news that the upcoming Buick Regal GS would be powered by a V6 engine. We now have confirmation about this thanks to a document from the California Air Resources Board (CARB). The Truth About Cars obtained a CARB Emissions document for the 3.6L V6. On the last page, the document lists all of the models that will be equipped with this engine for the 2018 model year. One of them listed was a Buick Regal and it is believed to be the GS. The document also reveals the GS will only come with an automatic (a nine-speed). We still don't know how much horsepower the Regal GS will be packing. The 3.6L V6 offers between 305 to 335 horsepower depending on the model. We also learned what the Regal GS could look like. China Car News got their hands on photos showing off the Chinese-spec Regal GS that will be debuting this week at the Shanghai Auto Show. It looks to be featuring a more aggressive body kit, uniquely styled five-spoke wheels, and GS badging. It should be noted the Regal in the pictures is the sedan variant and that it will come powered by a turbocharged 2.0L four-cylinder. Source: The Truth About Cars, Car News China View full article
  8. Over a week ago, we brought you news that the upcoming Buick Regal GS would be powered by a V6 engine. We now have confirmation about this thanks to a document from the California Air Resources Board (CARB). The Truth About Cars obtained a CARB Emissions document for the 3.6L V6. On the last page, the document lists all of the models that will be equipped with this engine for the 2018 model year. One of them listed was a Buick Regal and it is believed to be the GS. The document also reveals the GS will only come with an automatic (a nine-speed). We still don't know how much horsepower the Regal GS will be packing. The 3.6L V6 offers between 305 to 335 horsepower depending on the model. We also learned what the Regal GS could look like. China Car News got their hands on photos showing off the Chinese-spec Regal GS that will be debuting this week at the Shanghai Auto Show. It looks to be featuring a more aggressive body kit, uniquely styled five-spoke wheels, and GS badging. It should be noted the Regal in the pictures is the sedan variant and that it will come powered by a turbocharged 2.0L four-cylinder. Source: The Truth About Cars, Car News China
  9. New documents released by congressional investigators last week are putting some doubt onto GM's own internal investigation and legal proceedings. The Wall Street Journal reports that new documents show Doug Parks, vice president of product programs was aware of the ignition switch problems on the Chevrolet Cobalt as early as 2005. At the time, Parks was the chief engineer on the Cobalt and Saturn Ion. On May 2, 2005, he was involved in a email chain with a dealer over a customer wanting the dealer to buy back his vehicle because the ignition switch moves out of the "run" position too easily. Parks responded by suggesting "coming up with a plug" to place on the key to reduce the weight and stop the switch from turning. "This appears to me to be the only real, quick solution," Parks said in the email. “As Ms. Barra has said repeatedly we have taken all of the personnel actions that we feel are appropriate at this time,” GM Spokesman Greg Martin told Bloomberg. These documents could cause big problems for GM's legal battles. The Consumerist explains that lawyers could argue that the lack of a recall, particularly when a former chief engineer and current vice president knew of this issue, could give some credence that the company was trying to cover up this problem. Source: The Wall Street Journal (Subscription Required), Bloomberg, Consumerist William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.
  10. New documents released by congressional investigators last week are putting some doubt onto GM's own internal investigation and legal proceedings. The Wall Street Journal reports that new documents show Doug Parks, vice president of product programs was aware of the ignition switch problems on the Chevrolet Cobalt as early as 2005. At the time, Parks was the chief engineer on the Cobalt and Saturn Ion. On May 2, 2005, he was involved in a email chain with a dealer over a customer wanting the dealer to buy back his vehicle because the ignition switch moves out of the "run" position too easily. Parks responded by suggesting "coming up with a plug" to place on the key to reduce the weight and stop the switch from turning. "This appears to me to be the only real, quick solution," Parks said in the email. “As Ms. Barra has said repeatedly we have taken all of the personnel actions that we feel are appropriate at this time,” GM Spokesman Greg Martin told Bloomberg. These documents could cause big problems for GM's legal battles. The Consumerist explains that lawyers could argue that the lack of a recall, particularly when a former chief engineer and current vice president knew of this issue, could give some credence that the company was trying to cover up this problem. Source: The Wall Street Journal (Subscription Required), Bloomberg, Consumerist William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. View full article
  11. The Detroit News is reporting that the National Highway Traffic Safety Administration has ended the daily fine of $7,000 to General Motors after the company turned over the docements and answered the 107 detailed questions about its recall. A Transportation Department spokeswoman said the daily fine ended on June 5th when GM handed over the 315-page internal report from Anton Valukas. “We have what we asked for. The (GM) report is consistent with what we said a few weeks ago, which is there are some culture issues,” said Anthony Foxx, U.S. Transport Secretary. The total amount GM has pay to NHTSA? Around $420,000 which is due on July 4th. Source: The Detroit News William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.
  12. The Detroit News is reporting that the National Highway Traffic Safety Administration has ended the daily fine of $7,000 to General Motors after the company turned over the docements and answered the 107 detailed questions about its recall. A Transportation Department spokeswoman said the daily fine ended on June 5th when GM handed over the 315-page internal report from Anton Valukas. “We have what we asked for. The (GM) report is consistent with what we said a few weeks ago, which is there are some culture issues,” said Anthony Foxx, U.S. Transport Secretary. The total amount GM has pay to NHTSA? Around $420,000 which is due on July 4th. Source: The Detroit News William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. View full article

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