2013 Mercedes-benz Gl-class on 2040-cars

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Automakers face reality of EVs' cost — to jobs, and their bottom line

Related: We obsessively covered the Frankfurt Motor Show — here's our complete coverage FRANKFURT, Germany — European car bosses gathering for the Frankfurt auto show are beginning to address the realities of mass vehicle electrification, and its consequences for jobs and profit, their minds focused by government pledges to outlaw the combustion engine. As the latest such announcement by China added momentum to a push for zero-emissions motoring, Daimler, Volkswagen and PSA Group gave details about their electric programs that could give policymakers some pause. Planned electric Mercedes models will initially be just half as profitable as conventional alternatives, Daimler warned — forcing the group to find savings by outsourcing more component manufacturing, which may in turn threaten German jobs. "In-house production is almost irrelevant to the consumer," Daimler boss Dieter Zetsche told reporters on the eve of the Frankfurt Motor Show, in the midst of a German election campaign in which automotive jobs have loomed large. The company set a target of saving 4 billion euros ($4.8 billion) by 2025 to help fund the cost of its electric cars. "Daimler is the first company to state explicitly how much electric vehicles are going to hurt margins," said Bernstein analyst Max Warburton. "It was brave to go first — but of course it won't be the last." Volkswagen, for its part, said it was seeking new global supplier contracts to source 50 billion euros ($60 billion) of electric car content including batteries, which are not yet manufactured competitively in Europe. "A company like Volkswagen must lead, not follow," Chief Executive Matthias Mueller told reporters. VW diesel emissions-cheating exposed by U.S. regulators in 2015 triggered global public outrage, dozens more investigations into test-rigging by the wider industry and a push by some lawmakers to ban diesel and eventually all engines. TIGHTENING NOOSE Tesla shares jumped nearly 6 percent on Monday after a Chinese minister said it was a question of when, not if, Beijing bans fossil-fuel cars, tightening the noose around the combustion engine. France and Britain have promised its outright abolition by 2040. But PSA, the maker of Peugeots and Citroens, said it was concerned about the risks if consumers were left behind in the rush, and a new generation of battery cars does not sell.

Clark Gable's 1955 Mercedes-Benz 300SL Gullwing doesn't sell, then does sell for $1.85 million [UPDATE: w/video]

How much extra value does previous celebrity ownership add to of a car? Really, there's no way to know until the car in question hits the auction block and bidders start raising their hands. In the case of the 1955 Mercedes-Benz 300SL Gullwing you see above, the celebrity owner is none other than Clark Gable, who purchased it new. After Gable's death in 1960, the car changed hands a few times before settling with Charles Wood in 1975.
A high-dollar restoration was performed in 1989, and period accessories added by Gable himself were kept in place, including the Rudge knock-off wheels and Nardi steering wheel. Any Mercedes-Benz 300SL is worth a big chunk of money. In the case of Clark Gable's old Gullwing, the bidding stalled at $1.9 million here at the 2013 Barrett-Jackson auction in Scottsdale. As one of the 5000-series cars, this 300SL carried a reserve, and a bit of after-the-fact dealmaking saw the car change hands for $1.85 million.
You can see our high-res image gallery above, and the car's official auction description below.

Recharge Wrap-up: Honda Grace hybrid goes on sale in Japan, Daimler spends 100M euros on batteries

The Mercedes-Benz S-500 Plug-In Hybrid has earned an Environmental Certificate from the TUV Sud technical inspection authority. The award is based on a lifecycle assessment of the vehicle. This includes the ability to reduce CO2 emissions by 43 percent through charging, and by 56 percent if charged using hydroelectricity. Read more in the press release below. Daimler is expanding its production capacity for lithium-ion batteries. The company is investing around 100 million euros in its subsidiary Deutsche ACCUmotive, who will provide batteries for the electric Smart Fortwo and Forfour, as well as various Mercedes-Benz models. By the end of the construction, Deutsche ACCUmotive will have quadrupled production and logistics space since 2011. Read more in the press release below. Honda has begun sales of its Grace hybrid sedan in Japan. The Grace is based on the Honda Fit and uses the automaker's Sport Hybrid i-DCD system. It comes in front- and four-wheel-drive versions and uses a seven-speed DCT with built-in motor. The Honda Grace starts at the equivalent of about $16,500. Read more in the press release below. Honda has begun operation of its wind farm in Brazil. The farm consists of nine wind turbines, expected to produce about 95,000 MWh of electricity per year, which is on par with Honda's consumption for automobile production in the country. Honda is aiming to cut its CO2 production by 30 percent by 2020 compared to 2000 levels. Read more in the press release below. Toyota has won the 2014 World Endurance Championship's Driver and Manufacturer categories with hybrid technology. Toyota celebrated the win after the final race in Sao Paolo, Brazil. Toyota uses the same hybrid technology in its racing cars as it does in its production vehicles. Read more in the press release below. Controlled Power Technologies and other groups are calling for an international 48-volt electrical standard for vehicles. The groups called for the standard at the International Conference Automotive 48 V Power Supply Systems, saying that the 48V standard for mild hybrids would help make the systems more affordable. This will make it easier for automakers to meet the more stringent CO2 standards anticipated in coming years along with the introduction of the World Light vehicles Test Procedures. Read more at Green Car Congress. The world's first certified three-litre luxury saloon: S 500 PLUG-IN HYBRID receives Environmental Certificate Stuttgart.