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The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.

Recharge Wrap-up: Mini Superleggera decision delayed, Denza begins production

A decision on whether or not to build the Mini Superleggera has been pushed back. Earlier this year, Mini's Peter Schwarzenbauer hinted that the electric roadster concept could eventually make its way to production. Now, Schwarzenbauer is saying that a possible call is still at least six months away. "To really investigate seriously," Schwarzenbauer says, "you look into several different options, you come to the question: do we produce it ourselves, do we give it to somebody else?" Mini is considering whether or not to expand its seven-car lineup to 10 models, or scale it back to five "superheroes," which still wouldn't rule out more models. Read more at Reuters. The first EV from Daimler and BYD's joint venture, Denza, is set to go on sale this month, with production already starting. The 50/50 partnership said earlier that it was "well on track" to begin sales in September 2014. Now, Daimler has announced that the first Denza has rolled off the production line. According to Daimler, the cars will be sold through an independent dealer network. The Denza, which has a range of about 186 miles, will start at about $60,000. China's generous subsidies could help bring that cost down quite a bit (by nearly $20,000) for customers. Read more at Want China Times, or in the press release from Daimler, below. Local Motion wants to help organizations pool their transportation resources through fleet-sharing, with a focus on EVs. The company uses software to manage and track vehicle use, diagnostics, energy consumption, vehicle reservations and the like. The keyless technology allows employees to reserve and use the right vehicle for the job, and allows companies to save on vehicle ownership and maintenance. Local Motion is working with companies like Nissan to encourage the adoption of emissions-free driving, as well. Read more in the press release below, or at the Local Motion's website. DENZA rolls off production lines in China marking another key milestone for Daimler - Daimler's joint venture with Chinese partner BYD is the first Sino-German joint venture dedicated to electric vehicles in China. - Hubertus Troska: "DENZA is by far the most serious local electric vehicle effort in China, and a key pillar of our electric vehicle strategy in the country." - DENZA is manufactured at a modern production line that follows Daimler's proven production management system.

NHTSA, IIHS, and 20 automakers to make auto braking standard by 2022

The National Highway Traffic Safety Administration, the Insurance Institute for Highway Safety and virtually every automaker in the US domestic market have announced a pact to make automatic emergency braking standard by 2022. Here's the full rundown of companies involved: BMW, Fiat Chrysler Automobiles, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volkswagen, and Volvo (not to mention the brands that fall under each automaker's respective umbrella). Like we reported yesterday, AEB will be as ubiquitous in the future as traction and stability control are today. But the thing to note here is that this is not a governmental mandate. It's truly an agreement between automakers and the government, a fact that NHTSA claims will lead to widespread adoption three years sooner than a formal rule. That fact in itself should prevent up to 28,000 crashes and 12,000 injuries. The agreement will come into effect in two waves. For the majority of vehicles on the road – those with gross vehicle weights below 8,500 pounds – AEB will need to be standard equipment by September 1, 2022. Vehicles between 8,501 and 10,000 pounds will have an extra three years to offer AEB. "It's an exciting time for vehicle safety. By proactively making emergency braking systems standard equipment on their vehicles, these 20 automakers will help prevent thousands of crashes and save lives," said Secretary of Transportation Anthony Foxx said in an official statement. "It's a win for safety and a win for consumers." Read on for the official press release from NHTSA. Related Video: U.S. DOT and IIHS announce historic commitment of 20 automakers to make automatic emergency braking standard on new vehicles McLEAN, Va. – The U.S. Department of Transportation's National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety announced today a historic commitment by 20 automakers representing more than 99 percent of the U.S. auto market to make automatic emergency braking a standard feature on virtually all new cars no later than NHTSA's 2022 reporting year, which begins Sept 1, 2022. Automakers making the commitment are Audi, BMW, FCA US LLC, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Maserati, Mazda, Mercedes-Benz, Mitsubishi Motors, Nissan, Porsche, Subaru, Tesla Motors Inc., Toyota, Volkswagen and Volvo Car USA.