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Macron hosts BMW and Volvo execs as they consider moving operations to the U.S.

PARIS — French President Emmanuel Macron on Monday will host a dinner with a number of European chief executives to convince them not to move production to the United States, where lower energy prices and the Inflation Reduction Act is proving a lure. European leaders have been alarmed by massive anti-inflation measures passed by Joe Biden's administration, which make tax breaks conditional on U.S-manufactured content and which EU industries say make investment in Europe less competitive. "We're having difficulties with companies which are starting to consider offshoring their production or making future investment outside Europe," a French official said, listing high energy costs and the U.S. legislation as reasons. At the Elysee palace, Macron will seek to convince executives from companies including chemical groups Solvay and Air Liquide, carmakers Volvo and BMW, pharmaceutical giant AstraZeneca and telecom groups Ericsson and Orange to stay in Europe and choose France for their future investments. Macron, who has called on the European Union to launch its own 'European Buy Act' to subsidise European production, has encountered resistance from the more anti-protectionist members of the bloc. It was unclear what Macron would tell the executives to convince them not to move to the U.S. But France has unveiled a number of measures over the weekend to cushion the impact of high energy bills for French companies. European companies have been increasingly strident about the impact of soaring energy prices since Russia's invasion of Ukraine, which has pushed up gas and electricity prices. Eric Trappier, CEO of Dassault Aviation, who heads the French federation of metals industries, warned in the Les Echos newspaper over the weekend that Europe should protect its own industry more aggressively or see it move to other shores. Related video: Government/Legal Green Plants/Manufacturing BMW Volvo

BMW negotiates Daimler alliance, buys out car-service partner Sixt

Sixt sells its stake in DriveNow car-sharing to BMW BMW in talks with Daimler to combine car-sharing Combining car-sharing business to aid robotaxi plans FRANKFURT — Germany's BMW has bought out partner Sixt from their joint venture DriveNow, paving the way for a broader car-sharing and driverless taxi alliance with Daimler to compete against Uber and Lyft. Car rental company Sixt said on Monday it would generate an extraordinary pre-tax profit of about 200 million euros ($248 million) in 2018 from the sale of the DriveNow stake to BMW for 209 million euros. "With DriveNow as a wholly-owned subsidiary, we have all options for continued strategic development of our services," said Peter Schwarzenbauer, BMW's board member for Digital Business Innovation. "Our experience with mobility services supports our development of future autonomous, electrified and connected fleets," he said, adding that BMW aims to have 100 million customers for "premium mobility services" by 2025. The Sixt deal comes as BMW moves closer to a deal to combine its car-sharing services with Daimler's Car2Go, a person familiar with the discussions told Reuters last week. The German carmakers want to build a joint business that includes car sharing, ride-hailing, electric vehicle charging, and digital parking services, a senior executive at one of the companies said on Monday. Mercedes-Benz parent Daimler and BMW declined comment on the status of potential talks on their car-sharing business. "This is speculation, we do not comment," BMW said. The senior executive, who declined to be named because the plan is not public, said: "This will create an ecosystem which can also be used for managing robotaxi (driverless taxi) fleets." BMW would contribute its ParkNow and ChargeNow businesses to the common company, the executive said, adding that there were still differences of opinion over the valuation of Car2Go. The market for ride-hailing services currently makes up around 33 percent of the global taxi market, and could grow eightfold to $285 billion by 2030, once autonomous robotaxis are in operation, Goldman Sachs said in a recent research note. BMW and Daimler are now working on developing autonomous cars, vehicles which could enable them to up-end the market for taxi and ride-hailing services.

BMW celebrates 30 years of M5 with 600-hp super sedan

It's been 30 years since BMW rolled out the first M5, and while displacement and cylinder count may have fluctuated over those past three decades, output has only increased. The first-generation E28 M5 packed a 3.5-liter inline-six with 252 horsepower and 243 lb-ft of torque. The second-gen E34 model that followed added an extra 100 cc (and later 200 more) to produce 310 hp and 266 lb-ft. The E39 followed with a 4.9-liter V8 churning out 394 hp and 369 lb-ft, replaced by the award-winning 5.0-liter V10 in the E60 with its 500 hp and 380 lb-ft before BMW rolled out the latest model with a 4.4-liter V8, its twin turbos making up for the two dropped cylinders and 600 cc of displacement to produce 560 hp and 502 lb-ft of torque. But even that's being left in the dust by the new special edition you see here.
The 30th Anniversary Edition BMW M5 packs that same 4.4-liter twin-turbo V8, but cranks the output up to a nice, round 600 horsepower and a solid 516 lb-ft of torque to go with it. That makes it more powerful, not only than any M5 that's come before it, but also any of its rivals. The Jaguar XFR-S and Audi RS6 Avant (the latter only available as a wagon and not in North America) both lag behind this ultimate of Ultimate Driving Machines; only the Mercedes-Benz E63 AMG trumps it on torque (but not on power), with 531 lb-ft in stock form and 590 in the S-Model.
As a result, the 0-60 time drops from a quoted 4.2 seconds in the stock M5 to a scant 3.7 in the 30th Anniversary edition (just one tick behind that twistier E63 S). The special M5 also comes with the Competition Package as standard, as well as a dedicated control module for the Active M Differential, a special Frozen Dark Silver matte finish, 20-inch alloys and black chrome badges. Special badges abound inside as well, where you'll also find black leather and Alcantara upholstery and aluminum trim. There'll even be a dedicated one-day course offered to owners at The Thermal Club in Palm Springs, CA, to further sweeten the deal.