Autos Review

Hyundai Mobis Won Combined $233 Million Order

2011-06-08T12:32:00.000-04:00

Hyundai Mobis, An affiliate of the Hyundai Motor Group, said today that it won a combined $233 million order from Japan’s Mitsubishi Motors and Subaru to supply automotive lamps in what will be its first parts supply to Japanese automaker.

The deal comes as Japanese and other car makers are increasingly looking at South Korean parts makers which offer cheaper, quality products as opposed to their Japanese rivals struggling with the strong yen and the March 11 earthquake.

Hyundai Mobis, South Korea’s largest auto supplier said it will supply $200 million worth of headlamps to Mitsubishi Motors and $33 million of rear lamps to Subaru, an automobile manufacturing unit of Fuji Heavy Industries, from the second half of this year.

Hyundai Mobis previously agreed to provide its lamps to Europe’s BMW and Volkswagen as well as U.S. Chrysler Group LLC.

“Japanese and other car makers are turning to South Korean parts makers to save costs and diversify sourcing following the March 11 earthquake,” said Lee Sang-hyun, an analyst at NH Investment & Securities.

Hyundai Mobis, which heavily relies on its sister companies Hyundai Motor and Kia Motors for sales, aims to generate 30 percent of its revenue form overseas exports by 2015, from the current 10 percent.

Skoda Fabia RS 2000 Concept debuts at Worthersee 2011

2011-06-02T18:36:00.000-04:00

While the annual Worthersee event is focused around Volkswagen brand cars, mainly the GTI, Volkswagen Group AG’s Skoda brand decided to steal some spotlight with the debut of the new Fabia RS 2000 design concept.

“These days, the GTI-Treffen is rightly hailed by fans of powerful engines and sporty customization as the Mecca of car tuning,” says Skoda boss Winfried Vahland. “Anyone who comes to the event once never wants to miss another year of this fascinating get-together. The jubilee year of 2011 is a welcome opportunity for us to show off our sports models and make sure that everyone knows that Skoda really has something to offer here.”

The Skoda Fabia RS 2000 Concept was produced specifically for the GTI-Treffen event. The concept features seats for four with racing harnesses and carbon-fiber trim. Power comes from a 200-hp 2.0 liter twin-turbo 4-cylinder unit.

{via: egmcartech}

Ford adds 1.0L 3-cylinder EcoBoost to U.S. market, 8-speed transmission

2011-06-02T18:11:00.000-04:00

Automaker Ford has just confirm that it is expanding it range of the EcoBoost engines in North America with the new 1.0 liter, 3 cylinder EcoBoost and a new 8-speed automatic transmission. The engine is the smallest engine the Ford has ever built and the 8-speed transmission is Dearborn automaker’s first.

“Consumers are telling us they want to buy affordable vehicles that get many more miles per gallon,” said Derrick Kuzak, Ford group vice president of Global Product Development. “Our new 1.0-liter EcoBoost engine will give consumers looking for hybrid-like fuel economy a new, more affordable choice.”

Ford says that the new engine will deliver performance of that of a 4 cylinder unit with even higher fuel economy. We asked the famous question, How mush power and also what the MPG? Well Kuzak said that final calibrations of the new EcoBoost 1.0 liter are under way but the new engine will deliver horsepower and torque outputs equivalent to or better than Ford Fiesta’s normally aspirated 1.6 liter gasoline engine, which makes 120 hp, 112 lb-ft and a combined MPG of 33 (Info taken from fueleconomy.gov.) So if what Kuzak said is true, it will be better then the numbers given. This is pretty good for a 3 banger.

The new 1.0L 3-cylinder EcoBoost will be offered on the Fiesta and may even make its way to the Focus.

Ford said that it is on track to offer EcoBoost on 90 percent of its North American lineup by 2013 and to be producing 1.5 million EcoBoost engines globally.

Consumer Paid More For The Month Of May

2011-06-02T16:47:00.000-04:00

Last month, consumers paid more when shopping in the U.S. auto market. This is according to auto information company Edmunds.com. They paid more and have fewer choices, Edmunds said.

For the month of May, customer that bought a vehicle, paid about $180 more then in April, $310 more for then the month of February, and $410 more then May 2010. Overall incentives were at the lowest last month since October 2005, and incentives fell for compact -23% and subcompact -14% cars more than the average incentives for any other segment between April and May, according to Edmunds.

South Korean automakers turn out to be the biggest winners in Edmunds’ analysis of the monthly sales data released by the industry this week.

Edmunds said that the joint sales for sister companies Hyundai and Kia topped Honda and placed them fifth on the U.S. sales list behind fourth place Toyota. Hyundai has broken its monthly sales record five months straight. Kia has posted a 44.8% sales increase year to date.

Government expects to recover more then foretold from the auto bailout

2011-06-01T23:37:00.000-04:00

Government expects to recover more then foretold from the auto bailout as it pulls back financially from the sector, but taxpayers still face billions in potential losses, the White House said.

"We'll get back what we get back," Ron Bloom, the Obama administration's point man on manufacturing and restructuring of General Motors Co and Chrysler, said on Wednesday. "It will be what it is."

While a long time ago, the administration granted it would write off a portion of the $80 billion bailout, loss estimates have fallen from more then 60% to less then 20%, according the White House economic advisers.

Bloom said GM and Chrysler have made remarkable turnarounds and are positioned for success. But he said their futures are not assured and would not try to predict their fate. The surging U.S. auto industry hit a bump in May as the sluggish economy slowed sales.

Government intervention in the form of working capital for struggling GM and Chrysler was begun under the Bush administration and expanded by the Obama White House, which pushed the automakers into bankruptcy and financed their emergence.

Treasury has so far recouped about half of what was extended in grants and loans to GM and Chrysler, related retail financing arms, and suppliers in 2009. Some of the money was repaid in cash while the remaining interest was tied up in equity shares held by the government.

Chrysler has repaid $10.6 billion, but remains about $2 billion short of the total owed. Bloom said the Treasury would probably sell its 6 percent Chrysler stake to Fiat SpA, which runs the U.S. manufacturer.

Bloom declined to discuss timing or the value of that interest.

Sergio Marchionne, the chief executive of both Fiat and Chrysler, said on Tuesday talks with Treasury on a sale are progressing well.

Washington has recovered about half of the $50 billion extended to GM and has reduced its ownership stake from 60 percent to less than 30 percent.

Treasury plans to sell its remaining GM stake but Bloom said there is no target price or time frame for doing so. The government was eligible to act in May.

"We're going to look for opportunities to see when the market will be interested in purchasing additional shares," Bloom said. "The people at Treasury will analyze the markets and see what investor sentiment is and make the judgment."

GM stock closed 5 percent lower at $30.23 on Wednesday, far below an average share price of $54 necessary for the government to break even on the remainder of that investment, a government analysis concluded last month.

The administration is touting the auto bailout as a success because it preserved thousands of manufacturing and supplier jobs, maintained exports and a commercial tax base, and prevented expensive business wind-down programs.

Political overtones ahead of the 2012 election are unmistakable as Bloom's appearance in the White House briefing room set the stage for President Barack Obama to visit a Chrysler plant in the potential swing state of Ohio on Friday.

Democrats have begun criticizing Republicans who have questioned the bailout as a waste of money. House Speaker John Boehner, an auto industry bailout critic, is an Ohio Republican who met with Ford Motor Co CEO Alan Mulally on Tuesday.

Ford did not seek a bailout but Mulally stood by his company's decision to back the rescue of GM and Chrysler, saying their collapse could have wiped out the industry supply base and damaged the economy more broadly.

Peter Morici of the University of Maryland's Robert Smith School of Business said GM and Chrysler still have higher costs -- mainly for labor -- than rivals, which will blunt their progress.

He also said continued reliance on trucks, especially at GM, will hurt further as gas prices rise and consumers demand more efficiency.

"They like to advertise the Volt, but their business model is still based on the Escalade," Morici said of the newly introduced electric sedan and the gas guzzlng Cadillac SUV.

NASCAR driver Kyle Busch was cited for going 128 mph

2011-05-25T20:22:00.001-04:00

NASCAR driver Kyle Busch was cited for going 128 mph on a 45 mph speed zone. The car he was driving was a Lexus LFA.

Busch, “aka – bad boy,” 26, has two other traffic citations on his record and is currently on probation by NASCAR because of a “little rough housing” with competitor Kevin Harvick at Southern 500 at Darlington (South Carolina) Raceway in May 7^th of this year.

Busch issued an apology in a statement, saying, "I was test driving a new sports car and I got carried away. I went beyond the speed I should have been going on a public road."

The statement included Busch's pledge that "something like this will never happen again."

As far NASCAR, NASCAR does not require a highway driver’s license for its competitors and also does not involve itself in their highway driving affairs.

"This is a matter that Kyle will have to handle with the authorities in Iredell County," spokesman Kerry Tharp said. "Based on what we know right now, this would not impact his status as a NASCAR driver."

Busch was cited for another speeding violation — a much slower one, at 44 mph in a 35-mph zone — in Iredell County in 2008. Two years before that, he was fined $150 on a reckless driving charge in Richmond, Virginia.

Busch has won two races in the Sprint Cup Series this year and ranks 3rd in driver points. He has won nine other races in the Nationwide and Camping World series. He drives Toyotas for Joe Gibbs Racing in the Cup Series and also owns his own race team.

The NASCAR circuit is on home territory this week, with the Coca-Cola 600 scheduled Sunday at Charlotte Motor Speedway.

Chrysler has paid back loans.

2011-05-24T23:06:00.000-04:00

Chrysler has paid back the money that the U.S. and the Canadian governments, Said the automaker on Tuesday.

It all included; $5.9 billion owed to the U.S. taxpayers and $1.9 billion owed to the Canadians, Chrysler said. "The original loans were repaid in full, more than six years ahead of schedule, along with the payment of accrued interest and additional consideration," said Chrysler, in a statement.

This doesn’t mean that Chrysler is debt free no, no, no. In fact, Chrysler took an additional loans last week to help pay off older debt. Isn’t that the same like paying a credit card bill with another credit card? Will it be a near ending cycle to pay one loan with another one? Well the company said that “it could save $300 million in annual interest payments through refinancing”.

There is a saying in Puerto Rico that says: it’s like drying a puddle of water with a wet towel. Well I’m glad that Chrysler that pay off the loans to the U.S. and the Canadians. But now how they are going to do with the rest of the loans.

New Eagles Speedster will debut next month at Salon Prive.

2011-05-24T13:05:00.000-04:00

Eagles have created a lighter, faster of the E-Type two sitter version. The
Eagles Speedster will debut next month at Salon Prive.

Eagles had been restoring and selling vintage Jaguar E-type for nearly 30 years. It also created it own 50-year-old Malcolm Sayer classic, also called E-Type, and in 2009 unveiled its first E-Type Speedster, which was conceived initially as a one-off model for a well-heeled American customer.

The latest version of the E-Type weight was over 2,200 lbs. The E-Type is powered by a fuel-injected 4.7-liter inline-6 that makes 310 horsepower and 340 pound-feet of torque, and is mated to a five-speed gearbox driving the rear wheels through a limited-slip differential.

Eagles clam that from 0-60 MPH it takes only less then 5 second, with the top speed only 160 MPH.

The E-Type Lightweight Speedster sports 16-inch tires on aluminum rims with stainless-steel spokes, drilled and vented brake discs with aluminum 4-pot calipers, double wishbones, adjustable shocks and stabilizer bars.

More details is going to be announced at Salon Prive, which run in June 22-24.

2012 Honda Civic recalled for gas leak that could cause fire.

2011-05-23T19:00:00.000-04:00

2012 Honda Civic recalled for gas leak that could cause fire.

Honda is recalling 1,156 2012 Civic coupes and sedans in the U.S. because a fuel leak could result in a fire, according to the National Highway Traffic Safety Administration.Honda said in a statement that no injuries or fires have been reported related to this defect and that most of the affected vehicles have not yet been sold.The recall will begin on May 27.

"There is a possibility that an O-ring, which seals a connection in the fuel feed line, is misaligned," said NHTSA in its recalls summary of the problem. "If the O-ring is misaligned, a small fuel leak may occur. Fuel leakage, in the presence of an ignition source, could result in a fire."
Honda said in a statement posted on its Web site that no injuries or fires have been reported related to this defect and that most of the affected vehicles have not yet been sold.
It explained that during manufacture of the fuel-line assembly, an O-ring may have been displaced, which could potentially lead to a fuel leak at a joint where two segments of pipe attach to each other.
In other documentation filed with the federal government, Honda said that a worker at Honda Canada Manufacturing first noticed a fuel smell on a 2012 Civic on April 29. The company initiated a production hold on suspect units on that day.
Honda dealers will replace the fuel feed line assembly in the affected Civics. The recall is expected to begin on May 27. Owners can contact Honda at 1-800-999-1009.

By Anita Lienert via Insideline

Auto’s Rev been updated.

2011-05-23T16:46:00.000-04:00

Auto’s Rev been updated.

Welcome to the new Auto’s Rev (v2.0). We added a new layout making it easier to move around. Hope you like it – Xion - admin

Good Morning! 5/23/11

2011-05-23T11:39:00.000-04:00

Good morning! To start off today, Auto’s Rev is brought you by Blue Coral High Foam Car Wash Concentrate & Black Magic Titanium Wheel Polish Car Care Combo Pack.

Price: $11.99 & eligible for FREE Super Saver Shipping on orders over $25.

This is the ultimate combination pack when it comes to caring for your car. Blue coral high foam carwash is highly concentrated for extra strength and greater economy. Specially formulated for all car finishes it will not strip or dull waxed surfaces. Rich lather effectively floats away dirt and grime helping to eliminate spots and streaks. It leaves a mirror like finish on paint, metal, chrome and glass. This car soap is approved for use with all Mr. Clean cleaning products! Keep your tires looking showroom new by maintaining their lustrous shine with Black Magic Titanium Wheel Polish. Black Magic rejuvenates wheels to a brilliant shine and is safe for use on all wheels & metals, so you can use it on other parts of the car in addition to the wheels - bumpers, valve covers, header plates and more! Black Magic comes in a handy 5 oz. squeeze bottle so it will even fit in your glove or tool box!

Features

Car care combo pack
High foam car wash concentrate
Leaves a mirror like finish on paint, metal, chrome and glass
Black Magic Titanium wheel polish
Rejuvenates wheels to a brilliant shine

To order yours now you can find it in auto’s rev store or by clicking here.

Performance chip? What is it?

2011-05-16T17:26:00.000-04:00

As some people know, your vehicle is controlled by a computer, called engine control module (ECU). What it does it regulates the engine's timing, fuel distribution and emissions. By adding an after market performance chip (or also know as Superchip), one can set the Horsepower and/or it’s fuel distribution.

The reason for a performance chip is to improve a certain functions on a vehicle. Such as fuel efficiency and turbo boost, by replacing an existing chip with a modified, compatible chip.

When the performance chip is connected to your vehicle, it immediately detects the ECU settings and uses them regulate whatever functions it was programmed for. For instance, if it is supposed to improve fuel efficiency, it will receive signals from the fuel system, and the chip will adjust its settings to regulate all fuel issues.

Although performance chips are beneficial for enhancing certain vehicle functions, they also void any manufacturer warranties you have for your vehicle. This is mainly because the engine control unit (where the chip is installed) is a sensitive, computerized area, and any disruptions within it can cause engine failure.

Is it a station wagon or a sport car?

2011-05-14T21:33:00.000-04:00

Look out! There is a new hatchback in town and eager to take down its competition.

Image by Dave Yoder

Ferrari (that right Ferrari) just whips out its new $370,000, v8, and 660 horsepower hatchback 800 FF. This is not a station wagon but a sport car, capable to reach 150 MPH. So far all 800 FF is scheduled for production this year sold out within weeks. So order yours now before the one year waiting list.

New Sponsor

2011-05-14T18:04:00.000-04:00

A new sponsor just join Auto’s Rev! Shepherd Auto Parts have the latest in parts for all kind of vehicles. From now to December 31, you can get $10 Off on Auto Parts Order of $50 or more. With this coupon code AFCPN236.

Shepherd Auto Parts warrants all of their products sold on the web site, under normal usage, for specific time period from the date of purchase to the original purchaser. This warranty time period varies by Part and it is specified on the part description. All parts are constructed to original dimensions and will fit without modification. This warranty does not include labor or materials of any sort not sold on Shepherd Auto Part’s web site.

All make and models parts includes : Acura, Alfa Romeo, American Motors, Asuna, Audi, Bmw, Buick, Cadillac, Checker, Chevrolet, Chrysler, Daewoo, Daihatsu, Dodge, Eagle, Ferrari, Ford, Geo, Gmc, Grumann, Honda, Hummer, Hyundai, Ihc, Infiniti, International, Isuzu, Jaguar, Jeep, Kia, Land Rover, Lexus, Lincoln, Mazda, Mercedes Benz, Mercury, Merkur, Mg, Mini, Mitsubishi, Nissan, Oldmobile, Oldsmobile, Peugeot, Plymouth, Pontiac, Porsche, Renault, Saab, Saturn, Scion, Sterling, Subaru, Suzuki, Toyota, Volkswagen, Volvo, Yugo

Ford and Google merging!

2011-05-13T17:50:00.000-04:00

Ford and Google merging!

2012 Ford Focus BEV

Ford and Google team up to predict where drivers are going.

Ford and Google is merging together to make a new technology for the Ford future automotives. This well make more drivers drive more efficient. Making the way we drive better by 100%.

Ford going to improve its new 2012 Ford Focus BEV (or Battery Electric vehicles). Which it is coming out later this year. Ford is going to team up with the all popular Google Inc. Ford will be using the Google’s Prediction API to help you with your common routes, in order to improve your performance.

Jóhannes Kristinsson, the systems architect of Ford's Vehicle Controls Architecture and Algorithm Design team said the new project differs from Ford's ongoing collaborations with university research teams to study traffic patterns.

The Predictive API will be exclusively focused on the driver, logging and analyzing their driving history. In that regard, it is oblivious to traffic. By studying a user's driving patterns, the system tries to "predict where the driver is going and then optimize the upcoming trip with respect to electric driving zones."

Data is only going to be collection for now, and transferred to dedicated server hardware as the history logging and route analysis is quite intensive, in terms of storage and processing power. Data sent to the cloud would be made anonymous to protect users' privacy.

At a later time, information from multiple users in an area could possibly be compiled to form better route-specific programs, allowing a user to get semi-optimized performance for routes they haven't personally driven before.

Describes Mr. Kristinsson, "The focus of this research is how we can make the vehicle perform better for the driver’s personal driving habits. In a plug-in hybrid electric vehicle, there are both a traditional engine, and an electrical motor connected to a large battery which can be charged from the grid. The vehicle needs, at all times, to determine which of these to use at any time in order to meet the drivers demands and deliver great drivability."

"If we can predict where the vehicle is going, and confirm this with the driver we can save electrical energy for upcoming occasions, or "electrical zones" in this case, in order to give the driver a great driving experience for all portions of the route."

For more info visit: http://www.dailytech.com

Mercedes-Benz Updates the E-class for 2012

2011-05-13T12:54:00.000-04:00

Mercedes-Benz Updates the E-class for 2012!

Mercedes-Benz will change its 2012 line-up to a more powerful V6 and V8 direct injection engine. So far the C-class will benefit with this, but with in the next few months the E-class and also the S-class will get a new boost from these engines.

All the E350 will receive the Mercedes’ 3.5-liter, direct-injection V-6, which produces 302 hp and 273 lb-ft – the same engine that is in the 2012 C350. Other then the E350, the E550’s well get a turbo boost, well make it a twin turbo boost V8 engine!

The new E-class will be release some where in June, also some on October.

Gm recalls over 4,500 Chevrolet Colorado and GMC Canyon

2011-05-12T00:07:00.000-04:00

Gm recalls over 4,500 Chevrolet Colorado and GMC Canyon pickup trucks because nuts in the windshield wipers may not have been sufficiently tightened.

Image: gorancho

GM said the trucks, which are for the model year 2011, were built from late September to early November of last year. If this is your Truck please return it back, to your dealer. The mechanics will tighten it for you.

How to improve your vehicle’s horsepower’s and fuel?

2011-05-11T02:24:00.000-04:00

How to improve your vehicle’s horsepower’s and fuel?

Face it! Gas prices are high and getting higher. Gasbuddy.com stated that from 5/10/10 to now (5/11/11), gas prices went from $2.90 to $3.90 and that just the average in all the US. That doesn’t mean that $3.90 is the highest, NO! The average in California and New York are $4.60. (I hate to live there)

So with the price of gas rising. How can one improve the MPG without killing the horsepower?

Air Filter:

The best and simplest way is to take the stock air filter, toss it out, and then add a high flow air filter. Now before you start saying you have an old beat up Toyota, Hummer, or a Geo. A high performance air filter is not only for a sport car. Yeah that right, you can add it to any vehicle. The reason why to add a high flow filter is to increase the MPG by 10 to 15% and boost the performance by up to 15 to 20 horsepower. Some companies say that it can go past the 50 horsepower but I doubt that on most vehicles.

Cold air Intake:

If you going to change the air filter, then why not change the intake while you at it. It is easy to install and most cases when you going to buy a high flow air filter you can buy an intake pre installed. What a cold intake does is it cool down the air that leads to the combustion chamber. In theory that mean more oomph and some time less gas.

Find your air filter and intake here!

Performance Exhaust:

Like the air filter, this is not just for the sport cars. Any car can put an after market part on their vehicles. The reason you want to replace your stock exhaust system is that an exhaust reduces sound by clogging the air ways. This mean the engine is force to work a little harder to push that air out. In lamest form that mean the car uses more gas. I recommend changing the exhaust to a high performance one. That includes adding a

free flowing catalytic converter. These will not only improve your gas mileages but give you a smoother ride and a faster throttle respond.

Fuel Injection:

When a fuel Injection is updated, it can increase the MPG. Try find one that create a fine mist, which it can use small amount of fuel. If you going to change the fuel injection to an after market one, please take in note that replacing it CAN VOID your warranting if your car have one. Just check with your mechanics or dealer on what can you do about it.

Performance Cams:

This is what I Recommend the most. It will boost your car a lot without using out your gas. It also makes your other mods on your vehicles work better too, which it can mean more MPG for your car forms the other mods.

Other Small Tips:

Do a complete tune-up once a year and always change your oil every 3000 mile. Doing so your oil pump won’t have to force itself to pump the oil up to the top of the engine. That can increase you gas mileage too but not by much. But hey, something is something!

Check your tires air pressure every morning. The reason why in the morning it because the tire are cold, so the air particle is less dense and it will read the right PSI. Why check the PSI of tires? It because when you put the right PSI the tire have less fiction on the ground so a vehicle can easily go down the road without forcing it. But be warn, Too much air pressure can over wear the tire shortening it’s wear life and sometime it warranting. Talk to the dealer for more info about your vehicle tire PSI or you can check on the side of the driver door or something on the back trunk.

The last tip is to do resource on the gas. Find one that you think is the best.

By doing all the change that I stated above it can improve you MPG with out killing your Horsepower, and remember you don’t have to have a sport car to improve your horsepower.

Jaguar C-X75

2011-05-10T01:08:00.000-04:00

Jaguar C-X75

There is a battle going on with the new Jaguar C-X75 and Porsche 918. It not just on the road but in the tracks too. Jaguar is only going to make about 250 examples at a price of 700,000 £ or more. So what that in American money? Oh just $1,147,090.00 or more, pocket change right! Orders will be taken this fall, with deliveries beginning in late 2013.

A 1.6-liter, highly boosted gasoline internal combustion engine four with "not just one simple blower," according to Jaguar-Land Rover engineering director Bob Joyce, combines with two powerful electric motors and four-wheel drive to bring on a sub-3-second 0-60-mph time and sub-6-second 0-100 mph time, plus a top speed of more than 200 mph. All-electric range is up to 31 miles and Jaguar's estimated CO2 emissions of less than 99 grams per kilometer suggests combined fuel economy of 55.2 mpg

Williams F1 will help develop the high-profile, low-volume supercar, and will contribute aerodynamic, carbon fiber, and hybrid technology know-how. The cars will be built in the United Kingdom, though the project is part of Tata Motors' $1.7-billion-per-year, five-year investment in new technology and product.

"Fundamentally, I wanted to deliver the concept car. But in the timeframe, we can't do that with the (2010 Paris concept's) gas turbine," said Joyce. "The piston power train fits the design envelope. It will be just like the transformation from Range Rover LRX to Evoque."

It will not use an existing engine or an F1-based power plant, Joyce said, though it will use Williams F1 principles

Mitsubishi gone green – Electric I

2011-05-10T00:34:00.000-04:00

Mitsubishi gone green – Electric I

2012 Mitsubishi i MiEV

After the Evo’s, Mitsubishi is in the process to build pure EV’s and plug-in hybrid electric vehicles. Yoichi Yokozawa , new president on the North American Mitsubishi stated, that no less then 8 EV’s and/or plug-in hybrid electric vehicles will be on sale by 2015. Mr. Yokozawa said that Mitsubishi will, "Become the kind of car company that society expects us to be, that the planet needs us to be."

What we do know is that the I – or I MiEV – will be going on sale. That if you consider a sale to be an arm and a leg then it is cheap, $27,990 to be exact. The cool part about it is that you get a $7500 on the federal income credit for being an electric vehicle. So that it about $20,000 and change, being the cheapest electric vehicle on the market. That not all! Living in California, you can be qualified to get yet another CRVP $5000 tax credit, making it a round $15,000. Now that cheap!

The best part about the whole thing that you don’t have to wait in till it comes out to get it. Simply go to i.mitsubishicars.com and give them a $299 PayPal deposit plus $99 for a mandatory home electric inspection. But if you're one of the first 2000 people to put down a deposit, Mitsubishi will wave the $99 fee. Demo cars will show up at dealerships in November, and actual cars will be charging away in customers garages come January of 2012.