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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.

2016 Mercedes-Maybach S600 Review [w/video]

"Hindsight is 20/20" is a handy yet disingenuous cliche. The flaw is that hindsight is only instructive up to the moment you would have made a different, perhaps better, decision. At the moment of that deviation the past goes in another direction, one that you can't peer back into because you didn't experience it. So when we say we wish Karl Benz's eponymous firm had produced the Mercedes-Maybach S600 in 2002 instead of the gilded blunder of the separate Maybach brand and its 57 and 62 sedans, we just can't know if the formula would have worked 13 years ago. But we do know the formula adds up superbly right now. A little history: Wilhelm Maybach helped Gottlieb Daimler build a high-speed, four-stroke internal combustion engine in 1885. Eventually Maybach went to work for Daimler's new car company and designed the first Mercedes, the 1901 35-hp model considered the world's first modern car. Maybach left the company after Daimler's death, started a company building zeppelins, then joined his son to start the Maybach car company. Together they developed super luxury cars including the DS8 Zeppelin models that competed with Rolls-Royce. A reviewer in 1933 wrote, "The Maybach Zeppelin models rank among the few cars in the international top class. They are highly luxurious, extremely lavish in their engineering and attainable only for a chosen few." It's a whopping 28 inches shorter than the departed Maybach 62, but 8.2 inches longer than a standard S-Class. As is this Maybach S600. It's a whopping 28 inches shorter than the departed Maybach 62, but since it's 8.2 inches longer than a standard S-Class, there's a very different driving experience. Two-thirds of a foot isn't much, but the Maybach is 639 pounds heavier than an S550, or 231 pounds heavier than a standard S600. From the driver's seat we could feel every additional pound and inch over those other models. It is as if Mercedes threw out the aluminum and steel and chiseled this sedan from basalt. We've driven scanty few cars where we've been genuinely glad for blind-spot detection and 360-degree cameras – this is one of them. The Maybach's wheelbase is four inches longer than that of a Bentley Mulsanne, even though the overall car is almost five inches shorter than the Big B. That long wheelbase translates into tranquil steering response – the S550, S600, and Maybach S600 all have the same 2.3 turns-to-lock, but this sedan feels like it takes more effort. It even looks heavy.

Automakers want to stop the EPA's fuel economy rules change, and why that's a shortsighted move

With a Trump Administration looming, the EPA moved quickly after the election to propose finalizing future fuel economy rules last week. The auto industry doesn't like that (surprise), and has started making moves to stop the EPA. Ford CEO Mark Fields said he wanted to lobby Trump to lower the standards, and now the Auto Alliance, a manufacturer group, is saying it will join the fight against cleaner cars. The Alliance represents 12 automakers: BMW, Fiat Chrysler, Ford, GM, Jaguar Land Rover, Mazda, Mercedes-Benz, Mitsubishi, Porsche, Toyota, VW, and Volvo. Gloria Bergquist, a spokesperson for the Alliance, told Automotive News that the "EPA's sudden and controversial move to propose auto regulations eight months early - even after Congress warned agencies about taking such steps while political appointees were packing their bags - calls out for congressional action to pause this rulemaking until a thoughtful policy review can occur." The EPA was going to consider public comments through April 2017, but then said it would move the deadline to the end of December. That means that it can finalize the rules before President Obama leaves office. The director of public affairs for the Consumer Federation of America, Jack Gillis, said on a conference call with reporters last week when the EPA originally announced its decision that it is unlikely that President Trump will be able to roll back these changes. Gillis also said on the same call that any attempt by the automakers to prevent these changes would be history repeating itself. "These are the same companies that fought airbags, and now promoting the fact that every car has multiple airbags," he said. "These are the same companies that fought the crash-test program, and now are promoting the crash-test ratings published by the government. So, it's clear that they're misperceiving the needs of the American consumer." There are more reasons the Allliance's pushback is flawed. Carol Lee Rawn, the transportation program director for Ceres, said on that call that the automotive industry is a global one, and many automakers are moving to global platforms to help them meet strict fuel economy rules around the world.