New hybrid Volvo: The Swedish brand presents its Volvo S60L T6 Twin Engine at the Auto Shanghai. The plug-in hybrid delivers 306 hp and is destined for the Chinese market, where it will go on sale already next week. Volvo plans to introduce two new plug-in hybrids every year.
Saab exits bankruptcy protection: Saab owner NEVS has secured a write-down of debts of 300 million kronor (34 million dollars) and has thus exited bankruptcy protection. A debt of about 400 million kronor remains, but the consortium is now in a better position to talk with potential partners.
GM price cut I: Chevrolet gives its Spark EV a price drop to 25,995 dollars, 1,500 less than before. Someone eligible for all incentives, including a cash bonus by GM can thus get the Spark EV for 14,995 dollars. Leasing now starts at 139 dollars a month.
GM price cut II: Cadillac has issued information on its 2016 ELR. The range extended luxury EV is to come with 25 percent more power while the price will fall by 9,000 dollars to 65,995 USD for the 2016 Cadillac ELR, excl. incentives.
Toyota uses the Earth Day 2015 celebrations to showcase its fuel cell Mirai in the States. 15 years ago, the same promotion marked the start of the Prius. The Mirai will make appearances in Washington DC, New York and Los Angeles. Sales are to start in California later this year.
Self-balancing market: Segway has been bought by Beijing start-up Ninebot, the very same company the US makers of the gyroscopic two-wheelers had accused of patent infringement just a few months ago. Both brands will continue to operate under their existing names.
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