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U.S. tariff threat hits European automakers' stocks

FRANKFURT, Germany — A U.S. warning that it may introduce tariffs on foreign auto imports hit shares in German carmakers BMW, Daimler and Volkswagen on Thursday, which together have a more than 90 percent share of North America's premium car market. Washington said on Wednesday it had launched an investigation into whether car and truck imports are a national security issue due to signs they had damaged the U.S. auto industry. That could lead to new U.S. tariffs — up to 25 percent — similar to those imposed on imported steel and aluminum in March. BMW and Daimler shares fell as much as 3.1 percent in early Thursday trading, while Volkswagen's dropped as much as 2.5 percent. "(U.S. President) Donald Trump is obviously not thinking about how to prevent a trade war. Import duties on cars would be a nightmare for the German auto industry and would lead to a massive sales impact," said Thomas Altmann at Frankfurt-based asset manager QC Partners. BMW on Thursday condemned the move to consider tariffs. "The BMW Group is committed to free trade worldwide. Barrier-free access to markets is therefore a key factor not only for our business model, but also for growth welfare and employment throughout the global economy," it said. Daimler, which makes Mercedes-Benz cars, and Volkswagen, which makes upmarket Audis and Porsches, were not immediately available for comment. German carmakers produced 804,000 cars at local factories in the United States and exported 657,000 German-made cars into North America last year, according to German auto industry association VDA. China took pains on Thursday to welcome German firms and investments, with Premier Li Keqiang talking up relations after a meeting with German Chancellor Angela Merkel. BMW and Mercedes have expanded production capacity in the United States, but BMW, Audi, Volkswagen and Daimler have also invested billions to build new factories in Mexico in the hope of selling locally produced cars into the United States. German carmakers hiked vehicle production in Mexico by 46 percent to 620,000 cars last year, while production levels inside the United States fell by 6 percent to 804,000 cars because of a shift to Mexico, according to the VDA. BMW has its biggest factory worldwide in Spartanburg, South Carolina, and is the largest vehicle exporter among all the carmakers in the United States measured by value of goods exported. More than 70 percent of BMW's U.S.-made cars are exported.

Geely plans to launch hundreds of satellites to guide autonomous cars

BEIJING — China's Zhejiang Geely Holding Group said on Tuesday it was investing 2.27 billion yuan ($326 million) in a new satellite manufacturing plant, where it plans to build low-orbit satellites to provide more accurate data for self-driving cars. Geely, one of China's most internationally-known companies due to its investments in Daimler, Volvo and Proton, is building the facilities in Taizhou, where it has car plants. It aims to produce 500 satellites a year by around 2025, with around 300 highly-skilled staff, it said in a statement. Geely's technology development arm, Geely Technology Group, launched Geespace to research, launch, and operate low-orbit satellites in 2018. Geespace will begin the launch of its commercial low-orbit satellite network by the end of this year, Geely said. Geely said low-orbit satellites would offer high speed internet connectivity, precise navigation, and cloud computing capabilities to cars with autonomous driving technology. Geely, which sold 2.18 million cars last year, is among global automakers from Tesla to Toyota to pursue autonomous driving technologies. It is building low-orbit satellites to meet demand for high-speed connectivity capabilities that can deliver fast software updates. From around 2025, Geely's cars will have more functions to connect to the satellites. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.     Green Plants/Manufacturing Mercedes-Benz Volvo Emerging Technologies Autonomous Vehicles

2016 Mercedes-AMG GLE63 S Coupe 4Matic brings big power to go with massive name

Mercedes-Benz hopped into the luxury crossover coupe market with both feet with the recently debuted GLE-Class Coupe. While the existence of beauty in this segment is still up for debate, the Merc really gives the BMW X6 a direct competitor. With the newly unveiled 2016 Mercedes-AMG GLE63 S Coupe 4Matic, the engineers from Affalterbach are now also turning their sights on their rivals from BMW's M division. Don't let the name fool you. The GLE63 AMG Coupe eschews the twin-turbo 4.0-liter V8 from the C63 AMG in favor of an even bigger power source. This crossover uses the company's thundering 5.5-liter twin-turbocharged V8 with stop/start that pumps out 577 horsepower and 561 pound-feet of torque – 10 hp and 8 lb-ft more than the X6 M. The deep well of muscle means the sprint to 62 miles per hour takes just 4.2 seconds; faster than you can say the coupe's mile-long official name. The AMG Speedshift Plus 7G-Tronic seven-speed automatic gearbox routes all of that grunt to all four wheels with a 40:60 front/rear split. The styling of this beast gets a special nod from AMG by being the first CUV from the company to get its A-wing grille. Even if the rest of the design can be polarizing, this portion looks fantastic. The airfoil in the bumper is supposed to look like a stylized A, and from some angles, the wing almost appears like its just floating there. Each side of the GLE63 features black wheel arch flares, and around back there's a small lip spoiler on the tailgate. It's complimented by a new rear apron that has air outlets at each corner, integrated tailpipes and a diffuser in the center. Being a Mercedes-AMG, buyers sit in the lap of luxury inside. The seats are covered in Nappa leather with AMG crests on the headrests. The performance brand's moniker can also be found on the three-spoke steering wheel, and the instrument panel even gets covered in black Nappa. Obviously, if this isn't enough for potential buyers, Mercedes has a ton of options on hand. They include performance-oriented items like a sport exhaust system, 22-inch wheels and carbon fiber engine cover, but there're also more opulent choices like the fragrance mister and a high-end Bang & Olufson sound system. Scroll down for all the details on the much more powerful GLE Coupe. The new Mercedes-AMG GLE63 S Coupe 4MATIC Driving performance reinterpreted Affalterbach/Detroit.