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E.U. executive conditionally approves Daimler, BMW car-sharing deal

BRUSSELS — The European Union's competition authority said on Wednesday it had approved the plan of German luxury carmakers Daimler and BMW to combine their car-sharing businesses, subject to conditions. Under the deal, which includes car-sharing units Car2Go and DriveNow as well as ride-hailing, parking and charging services, Daimler and BMW will each hold 50 percent stakes in a joint venture. They have offered concessions to address E.U. antitrust concerns over the deal they hope would let them better compete with U.S. rival Uber and China's Didi Chuxing. The European Commission has found the deal would raise competition concerns for free-floating car sharing services in Berlin, Cologne, Duesseldorf, Hamburg, Munich and Vienna. It said Daimler and BMW agreed to a remedy package in the six cities. "The commitments thus fully address the Commission's concerns as they will reduce the barriers to entry for competing free-floating car sharing providers," the Commission said in a statement. "Therefore the Commission concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns. The Commission's decision is conditional upon full compliance with the commitments." Reporting by Gabriela Baczynska and Philip Blenkinsop. Related Video:

Which car companies are creating new jobs in America?

Since January, automakers have announced investments totaling $9.5 billion in U.S. plants, creating or retaining more than 12,000 jobs. Some of those companies have yet to announce just how many jobs will be created given their investments, with the location of many of those jobs still to be determined. Specifically, the 4,000-job Toyota-Mazda joint venture plant still hasn't announced its location, with numerous states jockeying for it. Hyundai has plans to invest $1 billion but has not announced a jobs number yet. And likewise Ford is investing $1.2 billion in Michigan without specifying a number of jobs. Volvo this week announced plans to add a second line to its factory under construction in South Carolina, spending another $500 million and adding 2,500 jobs to the 2,000 it was already trying to fill. Then Thursday, Daimler announced a $1 billion expansion to its facility in Tuscaloosa, Ala., to produce EV batteries and electric SUVs, a move that will add 600 jobs to its hiring this year. Above, we've created a handy pie chart showing you which companies have announced new jobs and how many there will be. Reporting by Paul Lienert in Detroit News Source: Reuters Plants/Manufacturing BMW Chrysler Ford GM Honda Hyundai Mazda Mercedes-Benz Toyota Volvo jobs

BMW planning six-cylinder i9 hybrid to celebrate centenary?

On the prospect of a new BMW M1 based on the company's new i8 hybrid, the jury has been in and out so much that we can't even tell which way it's likely to go. However, the latest reports coming in from Germany suggest that BMW may have something else up its sleeves. Rather than make a conventional gas-powered version of the i8, Germany's Auto Motor und Sport says BMW will make a more powerful one.
Tentatively dubbed i9, the hybrid sports car is rumored to pack a six-cylinder internal-combustion engine instead of the i8's turbo three. Coupled to more potent electric motors, it would figure to produce even more than the 357 horsepower and 420 pound-feet of torque already on tap in the i8, with further weight reductions to offset the bulkier engine.
Auto Motor und Sport says the mooted model will be produced to celebrate the Bavarian automaker's 100th anniversary and eclipse the i8's performance, with a projected 0-60 run in under four seconds en-route to taking the gloves off to crunch the Autobahn in electric bliss. The new i flagship would be another member of the company's growing electrified family, joining the existing i3 hatchback, upcoming i5 minivan and possible i8 Spyder down the line.