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Trump reportedly says he wants to wipe German cars off the U.S. map

BERLIN/FRANKFURT — A report that U.S. President Donald Trump has threatened to pursue German carmakers until there are no Mercedes-Benz rolling down New York's Fifth Avenue dented shares in the luxury car manufacturers on Thursday. An excerpt from German magazine Wirtschaftswoche's article, which cited several unnamed European and U.S. diplomats but did not include any direct quotes, could not be independently verified, while a U.S. Embassy spokesman in Berlin referred questions to Washington. The news and current affairs magazine said Trump had told French President Emmanuel Macron in April that he aimed to push German carmakers out of the United States altogether. Macron's administration in Paris declined to comment on the report. The Trump administration last week opened a so-called Section 232 trade investigation into vehicle imports, which could result in a 25 percent tariff on cars on the same "national security" grounds Washington used to impose metals duties in March. This could destroy exports by German carmakers, which control 90 percent of the U.S. premium market and are the biggest European Union exporters of cars to the United States. BMW owns Rolls-Royce, while Daimler has Mercedes-Benz, and Volkswagen controls Bentley, Bugatti, Porsche and Audi. Daimler, BMW and Audi declined comment. Porsche was not immediately available for comment. BMW shares were trading 0.5 percent lower at 0939 GMT, while Daimler and VW's shares were down 1 percent and 1.6 percent respectively, underperforming Germany's blue-chip DAX. Trump has railed against German carmakers before. And in early 2017, in an interview with German newspaper Bild, he said he would impose 35 percent tariffs on imported cars. At the time, the president called Germany a great car producer but said that the business relationship with the United States was an unfair one-way street. Germany's auto industry association VDA says its members exported 657,000 vehicles to North America last year, with total exports of vehicle components, cars, engines, as well as second-hand vehicles totaling 31.2 billion euros in 2016. Imports from the United States to Germany amounted to 7.4 billion euros, meaning a trade deficit of 23.8 billion euros the VDA's latest available figures show. However, German brands also have huge factories in the United States, where they built 804,000 cars last year, VDA said, providing jobs for U.S. workers. Berlin has reacted angrily to the U.S.

Daimler buying 12% stake in Beijing Auto

Daimler and Beijing Automotive are officially going steady, with the German company set to take a 12-percent stake in the Chinese brand tomorrow. The two are already tied up in a Mercedes engine plant in Beijing, of which BAIC will increase its stake in, from 50 to 51 percent. Daimler will also get two seats on the Chinese company's board. BAIC may also gain the ability to produce cars on Mercedes-Benz platforms, according to Automotive News Europe.
The investment in BAIC comes ahead of that company's initial public offering, according to a report form Bloomberg, which indicates the deal will be inked tomorrow in the Chinese capital. According to the report, if the circumstances are right, BAIC may turn around and invest in the Germany company "soon."
It's not entirely clear just how much the 12-percent cut is costing Daimler, although it seems reasonable to assume that, as it's ahead of the IPO, the parent company of Mercedes is getting a bit of a bargain.

Recharge Wrap-up: Mercedes B-Class Electric Drive is a rock star, FedEx tests electric trucks

The Mercedes-Benz B-Class Electric Drive is in a new music video for I Lived by OneRepublic. The band's singer, Ryan Tedder, has also been brought on as a brand ambassador for the German automaker. OneRepublic will also be performing the song at the Mercedes-Benz Media Night on the eve of the Paris Motor Show. No word if Mercedes plans to offer hordes of screaming teenage fans as an option package with the B-Class Electric Drive. See the video (the car shows up around the four-minute mark) or read more in the press release below. FedEx is testing converted electric delivery trucks with diesel range extenders. Looking to shrink its carbon footprint, the company has converted a handful of trucks as part of a pilot program. In addition to battery packs, each truck is equipped with diesel turbine generators (supplied by Ian Wright's company, Wrightspeed) to provide electricity when the battery is depleted. Because the diesel motors aren't powering the vehicle directly, they can continuously run at their most efficient speed, making the trucks about twice as efficient as those powered by traditional means. Read more at Wired. Ford's new aluminum-bodied F-150 will be 5 to 20 percent more efficient, the company says. The fuel economy gains depend on the particular version of the truck, but the biggest improvement will likely come from the 3.5-liter V6 and the 2.7-liter EcoBoost V-6. Automotive News predicts the F-150 SFE to be rated at 21 mpg city/28 highway/23 combined, which are identical figures to the Ram 1500 EcoDiesel. The result could be a noteworthy fuel economy battle between Ford and Ram trucks. Learn more at Automotive News. The US Department of Energy is providing $25 million in funding toward reducing the price of algal biofuels. The goal is to get the price of these renewable fuels below $5 per gasoline gallon equivalent (gge) by 2019, and less than $3 per gge by 2030. The money will fund projects to develop better algal cultures that produce biofuel and other useful bioproducts, and projects to boost biomass productivity. The DOE says it wants to help develop a "bioeconomy" that provides jobs, helps the environment and ensures energy security. Read more at Energy.gov. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.