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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.

Recharge Wrap-up: Tesla firmware update videos, Mercedes S500 Plug-In Hybrid

See the Tesla Model S with Firmware 6.0 in action in new videos from Teslarati. The large software update includes improved traffic-based navigation, a calendar function, updated power management, "Location-Based Smart Air Suspension" as well as other improvements. Drivers get more route options to save energy, and more control over how the car saves energy. The car can also remember ride height settings when driving in those same locations again. Additionally, you can start and drive the car without a key, just using the smartphone app. See how it all works in the videos below, the second of which focuses on pairing with the updated phone app. The California Public Utilities Commission (CPUC) has deemed ride-hailing app Uber's carpooling service illegal. The way the UberPool service is categorized by the CPUC, charging multiple riders separate fares for a single ride runs afoul of the law. The technical details are a bit convoluted, and what supporters could deem arbitrary, but Forbes delves into the details a bit further to try to make sense of California's intentions (even considering the possibility of other ride services, such as airport shuttle companies, fueling the fire). Lyft - which operates a similar service called LyftLine - and Sidecar have also received notices from the CPUC. Read more at Forbes. China's recent enthusiasm for electric vehicles could be largely attributed to a single person, Ma Kai. After the Politburo member was named vice premier, he encouraged maintaining and increasing EV subsidies when China sought to decrease them. He also seems ready to fight for more EV deregulation to encourage more clean vehicles. Read more about Ma Kai and what he's done for China's EV legislation at Automotive News. Mercedes-Benz begins deliveries of the S500 Plug-In Hybrid this month. The high-tech luxury PHEV features energy saving modes based on driver, route and traffic, and features a haptic accelerator that can signal when the driver should ease off to save power. It's powered by a biturbocharged V6 and 85-kW electric motor. Its 8.7-kWh battery offers about 20 miles of electric driving. The S500 plug-in starts at about $146,000. Read more in the press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Next Aston Vantage will be the only way to get an AMG V8 with a stick

With only a few exceptions, most of them factory customs, AMG hasn't built cars with manual transmissions. It just isn't the way things are done in Affalterbach. But now that Mercedes's in-house speed shop will be supplying engines to Aston Martin, the world will be treated to cars with three pedals and overengineered German V8s wrapped in a pretty British package. We're into it. The news comes from Car and Driver, which spoke to Aston Martin CEO Andy Palmer about the new Vantage among other things. Palmer confirms to C/D that the Vantage will continue to offer manual and automatic transmissions when the next-gen car arrives featuring the AMG 4.0-liter twin-turbo V8. In its most potent form, the eight-cylinder makes 503 horsepower and 479 lb-ft of torque in the AMG GT S. Figure on a little more from the Aston-ized version, just for fun. The current V8 Vantage GT makes 430 hp and 361 lb-ft from its naturally aspirated 4.7-liter. While some may lament the new engine's forced induction, that added power and the thoroughly modern behavior of the AMG engine should be welcome. While the AMG V8 is currently only planned to go into Aston's entry-level car, C/D does mention a possibility of it (and perhaps its three-pedal transmission) making its way into other cars as an economy option for certain markets. If a V8 DB11 were to be offered, don't expect it to show up here, though. There's also no word on who will supply the manual for the AMG-Aston mashup, but it likely will be a transaxle like the current Vantage. Ex-factory manual AMGs aren't totally unprecedented. Pagani has built some three-pedal cars with its massaged AMG V12s. Compared to those, however, these manual Vantages can be considered mass-production cars. And really, any increase in the number of sticks mated to AMG engines can only be a good thing. Related Video: News Source: Car and Driver Aston Martin Mercedes-Benz Coupe Performance mercedes-amg confirmed aston martin v8 vantage aston martin vantage