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U.S. tariff threat hits European automakers' stocks

FRANKFURT, Germany — A U.S. warning that it may introduce tariffs on foreign auto imports hit shares in German carmakers BMW, Daimler and Volkswagen on Thursday, which together have a more than 90 percent share of North America's premium car market. Washington said on Wednesday it had launched an investigation into whether car and truck imports are a national security issue due to signs they had damaged the U.S. auto industry. That could lead to new U.S. tariffs — up to 25 percent — similar to those imposed on imported steel and aluminum in March. BMW and Daimler shares fell as much as 3.1 percent in early Thursday trading, while Volkswagen's dropped as much as 2.5 percent. "(U.S. President) Donald Trump is obviously not thinking about how to prevent a trade war. Import duties on cars would be a nightmare for the German auto industry and would lead to a massive sales impact," said Thomas Altmann at Frankfurt-based asset manager QC Partners. BMW on Thursday condemned the move to consider tariffs. "The BMW Group is committed to free trade worldwide. Barrier-free access to markets is therefore a key factor not only for our business model, but also for growth welfare and employment throughout the global economy," it said. Daimler, which makes Mercedes-Benz cars, and Volkswagen, which makes upmarket Audis and Porsches, were not immediately available for comment. German carmakers produced 804,000 cars at local factories in the United States and exported 657,000 German-made cars into North America last year, according to German auto industry association VDA. China took pains on Thursday to welcome German firms and investments, with Premier Li Keqiang talking up relations after a meeting with German Chancellor Angela Merkel. BMW and Mercedes have expanded production capacity in the United States, but BMW, Audi, Volkswagen and Daimler have also invested billions to build new factories in Mexico in the hope of selling locally produced cars into the United States. German carmakers hiked vehicle production in Mexico by 46 percent to 620,000 cars last year, while production levels inside the United States fell by 6 percent to 804,000 cars because of a shift to Mexico, according to the VDA. BMW has its biggest factory worldwide in Spartanburg, South Carolina, and is the largest vehicle exporter among all the carmakers in the United States measured by value of goods exported. More than 70 percent of BMW's U.S.-made cars are exported.

Recharge Wrap-up: Venturi seeks funding for speed record, Kia partners on V2G

Venturi Automobiles has started a crowdfunding campaign to help break an EV speed record. Venturi's goal, with the help of The Ohio State University, is to set a new FIA World Speed Record for Battery Powered Electric Vehicles of over 7000 pounds with its VBB-3. Venturi set the current record at 307 miles per hour, but wants to exceed that this September at the Bonneville Salt Flats. Funders can score merchandise like T-shirts, miniature models, and even their name on the side of the car. Learn more at Venturi Automobiles' Kickstarter page. Kia is providing six Soul EVs to UC Irvine's Advanced Power and Energy Program (APEP). APEP is using the electric vehicles for the development of vehicle-to-grid technology and smart charging systems. Kia says the collaboration is helpful in its goals of expanding EVs over the next five years. "Grid-connected electric vehicles offer tremendous potential in terms of energy storage and dispersion during high-demand periods," says Kia VP of Product Planning Orth Hedrick, "and Kia is excited to collaborate with APEP in the study and development of advanced smart grid technologies." Read more from Kia, or at Green Car Congress. Daimler is launching its Mercedes-Benz Energy brand for stationary energy storage. Taking on the likes of Tesla with its Powerwall, Daimler began shipping battery packs for residential energy storage in Germany in April, with an eye toward solar systems. Now, with its new brand, the company looks to expand to the global market. "By founding Mercedes-Benz Energy GmbH, we are underscoring our ambition to be a technological and market leader in the field of highly efficient storage systems," says Daimler's Harald Kroger. "With our unique combination of high standards of quality and safety and positive economies of scale, we are supporting the success of the new energy era while helping to make electromobility affordable." Read more in the press release below. Daimler Establishes Mercedes-Benz Energy GmbH for Stationary Energy Storage Daimler AG is continuing to expand its network of expertise in the field of lithium-ion battery applications. Within this innovative line of business, the newly established Mercedes-Benz Energy GmbH is assuming the development and global sale of Mercedes-Benz brand stationary energy storage with immediate effect. Thus, Daimler is focusing even more on the growing market for stationary batteries.

Aston wants to build DBX on its new platform, not Mercedes'

Aston Martin is proceeding with plans to launch the DBX as its first production crossover. It just can't say at this point what it will be based on. Speaking with Automotive News Europe, Aston's new CEO Andy Palmer indicated that basing the DBX on a Mercedes SUV platform would not be its first choice because they "clearly sit in a very different space to the one we want to go" with the DBX. Instead, the company's first choice would be to build the crossover atop the new platform it's developing for its sports cars. "It just depends how high off the ground it could go," said Palmer. "I don't exclude the possibility of using some [Mercedes] parts, but I would say very much the primary route is our platform." The prospect of building an Aston SUV on Mercedes architecture – namely that of the GL-Class – has been on the table for some time now. The Lagonda SUV concept it showcased at the Geneva show in 2009 was based on the GL, and the two automakers have been forging a tightening alliance in the years since. The British automaker's next-generation engine is to be built by Mercedes-AMG, and it is expected to source other components from the German automaker as well. For its part, Mercedes has been taking a sportier approach with its latest crossovers, as demonstrated by the GLE Coupe that debuted before the more conventional version and the Concept GLC Coupe that previewed the GLK's replacement in Shanghai last month. Aston Martin, on the other hand, is building a new sports car platform that will underpin its next generation of luxury GTs, replacing the long-serving VH architecture that has served for decades as the basis for its entire model line. Perhaps the most surprising of ANE's report, though, is that Aston seems to be proceeding with plans to build the DBX apparently without even knowing what platform it will use.