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Daimler CEO says nobody is making money on EVs right now

What do you charge for a vehicle you're going to lose money on? If you're Mercedes-Benz and the vehicle in question is the B-Class Electric Drive, you offer it for lease for just 399 euros ($498) a month with a down payment of 8,473 euros ($10,582). If Daimler was going to price it honestly, it seems, the number would have to be a lot higher. "Nobody today is making a battery-powered vehicle that's economically viable." – Daimler CEO Dieter Zetsche That's according to Daimler CEO Dieter Zetsche, who spoke to reporters in Spain recently and said that, "You can reasonably say that nobody today is making a battery-powered vehicle that's economically viable in its own right. Manufacturers will not see a return within a reasonable time on the billions they're investing now." There are ways to make money in EVs, of course. Just ask Daimler, which recently sold its stake in Tesla for a cool $780 million. Zetsche has some EV-critical company in executives like Fiat Chrysler CEO Sergio Marchionne, who has said his company loses over $10,000 on each Fiat 500E it sells. Other automakers – e.g., Tesla, Nissan – are much more positive about their financial bet on EVs, but no one is opening all their books to the public to prove this. Tesla, which worked with Mercedes on the B-Class ED, will have an earnings call with investors later today, so perhaps we'll learn something new in a few hours. The B-Class ED lease deal is for 36 months, based on an MSRP of 39,151 euros ($48,895) in Europe, including the 19 percent VAT. You can read more in the press release below. Commercial release of Mercedes-Benz B-Class Electric Drive: Local emission-free driving from ˆ399/month Stuttgart, Nov 03, 2014 With its high-torque electric motor, the B-Class Electric Drive delivers lively and superior driving pleasure – with zero local emissions. The B-Class Electric Drive is now available to order, with deliveries set to start before the end of 2014. Prices start at ˆ39,151[1]. The B-Class Electric Drive can be leased through the Mercedes-Benz Bank from ˆ399 a month[2]. Further information on the full range of tailor-made leasing and financing offers as well as specific pricing examples are available at http://www.mercedes-benz-bank.de. Quiet and local emission-free driving is ensured by a 132 kW electric motor, which, as is typical of an electric drive, delivers its maximum torque of 340 Nm right from the start. The result is noticeably powerful acceleration from rest.

Aston Martin tipped for F1 return with Red Bull, Mercedes

Aston Martin could be plotting a return to Formula One for the first time in over half a century. And not as a backmarker, either. That is, at least, if the latest rumors materialize. While most automakers that participate in F1 do so as either a team owner (like Ferrari and Mercedes) or as an engine supplier (think Renault or Honda), the rumored Aston Martin deal would take a different approach. According to Autosport, the proposal would have the Red Bull Racing team run Aston Martin branding – but not its engines. Those would be provided by Mercedes, just like the engines in the British marque's upcoming slate of road cars. In that regard, the deal would not be unlike the one which Red Bull currently has with the Renault-Nissan Alliance, which sees the team running Renault engines and Infiniti branding. Andy Palmer was a pivotal figure in brokering that unusual arrangement when he was working for Carlos Ghosn, and is now tipped to be brokering a similar deal in his new capacity as Aston Martin's CEO. Though Aston has found glory in sports car racing (including Le Mans and its various associated series), it was never much of a contender in grand prix racing. It competed in a handful of races in 1959 and 1960, but never achieved results worth bragging about. Aston was rumored to be plotting a return when David Richards sat as chairman of the company, having run Aston's racing program as well as Honda's F1 team previously. Those rumors, however, never materialized. Whether this time 'round gains any traction remains to be seen - Aston Martin declined to either confirm or deny the reports when reached for comment by Autoblog. Red Bull has been growing increasingly dissatisfied (and increasingly vocal about its dissatisfaction) with Renault engines over the past couple of seasons. Though the two parties won four back-to-back world titles together, things took a noticeable step backward after the new turbo engine regulations took hold for the 2014 season. Nissan/Infiniti and Red Bull are contracted to continue collaborating until the end of next season. After that is when the new Aston deal could take hold, and Mercedes is reportedly keen on the idea so that it could add another customer to its F1 engine supply business and offset the costs of development. That could effectively prove the end of Renault in F1 (at least for the time being). Aside from Red Bull, the French automaker currently supplies only that outfit's sister team Toro Rosso.

Daimler wants to cut EV research spending as it preps EQ

Daimler AG is hoping that the legwork it's done preparing its EQ electric-vehicle sub-brand will allow it to slightly reduce annual spending on plug-in vehicle technology. The Mercedes-Benz parent is looking to cut electric-vehicle research-and-development spending to $13.2 billion in 2017 from about $15.4 billion this year, Bloomberg News says, citing comments Daimler CEO Dieter Zetsche made to journalists in Hamburg, Germany, this week. Daimler's annual R&D spending is up from about $11.5 billion in both 2013 and 2014. Like its competitors – for example Audi and BMW and its i sub-brand – Daimler is aiming to have as much as 25 percent of its annual vehicle sales be battery-electric within the next 10 years as part of an effort to meet stricter greenhouse-gas emissions mandates in both Europe and North America. In fact, Mercedes-Benz and Daimler's Smart division collectively have at least 10 electric-vehicle models on their slates during the next few years, though Zetsche said the German automaker will continue to find ways to make its gas- and diesel-powered vehicles more fuel-efficient as well. Daimler introduced a concept version of the Generation EQ electric SUV at the Paris Motor Show late last month. It comes powered by two electric motors and is made up of a combination of steel, aluminum, and carbon fiber, and boasts a 311-mile single-charge range (on the relatively lenient European testing standards). The SUV also has 402 horsepower, and the ability to go from 0 to 60 miles per hour in less than five seconds. Zetsche said at the time that Daimler was prepping powertrains and platforms for electric sedans, wagons, coupes, and roadsters, in addition to SUVs. Additionally, Daimler's Deutsche Accumotive unit is producing the lithium-ion battery packs for the EQs. Featured Gallery Mercedes-Benz Generation EQ Concept: Paris 2016 View 19 Photos News Source: Bloomberg News via Automotive News-sub.req. Green Mercedes-Benz smart Electric eq mercedes eq