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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 Japanese Grand Prix | Hamilton faces the beginning of the end

We're told the Japanese mamushi viper haunts the undergrowth around Suzuka. If the pit viper attended the weekend's Japanese Grand Prix, it avoided human visitors but it put a nasty bite on Lewis Hamilton's championship hopes. The Briton, lined up second on the grid next to Mercedes-AMG Petronas teammate Nico Rosberg, flubbed his start. By the end of Turn 1 Hamilton was in eighth. Hamilton didn't suffer alone. The beginning of the race was a melee; many of the leaders got caught out either by the damp track or by having to swerve around slow starters. Only Mercedes' Nico Rosberg and Red Bull's Max Verstappen took off clean. The German rolled up another lights-to-flag victory despite the pass-happy race happening behind him. Rosberg was as unbothered by the Dutchman in second place as he was by the official Formula 1 camera feed. Verstappen didn't have much work to do until the final ten laps of the race. Thanks to the Mercedes team's strategy – or Ferrari waiting too long to pit – Hamilton got up to third on Lap 36 of 53. Unable to make a DRS-enabled pass on Verstappen down the front straight toward the end of the race, the Mercedes driver took a creative line through Spoon corner. Closing in down the back straight, Hamilton jinked inside to try a pass through the final chicane. Verstappen moved over in the braking zone while Hamilton was still behind him, closing the door on the move. Hamilton protested over his team radio, but seemed resigned to a third place finish after the incident – he didn't try any more passes in the final laps. The Ferrari duo of Sebastian Vettel and Kimi Raikkonen crossed the line fourth and fifth, respectively, in recovery drives after penalties. The scuderia tried an aggressive final stint after Hamilton successfully undercut Vettel in the pits. Ferrari put Vettel on the soft-compound Pirellis so he could hunt the Mercedes, but after a few laps of close pursuit the tires gave up and Vettel fell back. Daniel Ricciardo couldn't get comfortable in his Red Bull the entire weekend. The Aussie finished where he started, in sixth place. Sergio Perez and Nico Hulkenberg followed the Red Bull home in two-up formation for Force India, Williams doing the same in the final two points-paying positions with Felipe Massa and Valtteri Bottas. Rosberg's 23rd career victory – his ninth of the season and first ever in Japan – puts him 33 points ahead of Hamilton in the Driver's Championship with four races left.

Rosberg survives the Mexican mess | 2016 Mexican Grand Prix recap

Roughly ten messy laps defined the Mexican Grand Prix – five laps at the start and five at the end. Those laps included a couple of actual wrecks and a few more near wrecks that turned the entire day into chaos. To have any chance of winning the 2016 Driver's Championship, Lewis Hamilton needed to get his Mercedes-AMG Petronas across the finish line ahead of teammate Nico Rosberg. Once again we got a weekend full of vintage Hamilton, the Brit dominating the from Friday to Sunday, except for the first corner of the first lap. Pole-sitter Hamilton reached Turn 1 clearly in front of the field. But he couldn't make the corner and stay on track, so he zipped into the runoff area and over the grass, rejoining at Turn 3 still ahead of the field. The stewards didn't penalize Hamilton, one commentator's explanation being that Hamilton "was not battling another car." The non-action left car #44 to enjoy a lights-to-flag win. At that very same corner, Rosberg also availed himself of the runoff area. His infraction seemed destined to incur a penalty until replays showed that Max Verstappen in the Red Bull slid wide and bumped Rosberg, causing the German to go off track. No penalties were handed out there, either. Verstappen would return to hound Rosberg later in the race when angling for second place. Verstappen took a stab through Turn 4 on Lap 50 of the 71-lap race, but ran off the track and lost touch with the Mercedes by Lap 55. Ferrari got half of its strategy right in Mexico, putting Sebastian Vettel hard on the charge in the final stint. The German got within DRS range of Verstappen on Lap 67, with Red Bull's Daniel Ricciardo a little more than a second behind Vettel. On Lap 68, Verstappen pulled the same move as Hamilton at the beginning of the race: the Dutchman ran wide through Turn 1, zoomed over the grass and rejoined the track at Turn 3, staying ahead of Vettel the whole time. With three laps remaining, the stewards chose to investigate after the race. In spite of Verstappen's own team telling he probably needed to cede position to Vettel, Verstappen stayed in front and slowed just enough to put Vettel under threat from Ricciardo. On Lap 70 Ricciardo had closed up to Vettel's gearbox. Headed for Turn 4, Vettel swung outside to take the corner. When Ricciardo moved inside to pass, Vettel moved inside to block the Aussie while both cars were in the braking zone. The Ferrari made light contact with the Red Bull, but Vettel held his position through Turn 5.