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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.

Recharge Wrap-up: Fisker EMotion rear end, Faraday Future drag race teaser

Fisker has unveiled the rear end of its EMotion EV. This latest image in a series of slow reveals shows us the strip of lighting across the back, the lines of the trunk opening, and a good look at the rear diffuser. The car appears significantly wider at the fenders than at the roofline, which gives it a planted and muscular look. It's a shape that fits the car's stated performance; Fisker says the EMotion will have a top speed of 161 miles per hour. And, of course, there are no tailpipes. Read more from TechCrunch. Check out the off-road prowess of the Tesla Model X in an icy ditch. Thanks to a sophisticated traction control and torque distribution system, the electric SUV is able to keep its composure even when a wheel leaves the ground over the uneven terrain. Of course, the grippy winter tires help too. The video could also help ease concerns about the vehicles torsional rigidity, though there was a slight creak when opening one of the falcon wing doors while the Model X was suspended over the ditch. See the video and read more at Teslarati. Faraday Future is teasing a video of drag races against the Tesla Model X, Bentley Bentayga, and Ferrari 488 GTB. It shows the camouflaged FF prototype lining up next to the competitors individually, and taking off down the drag strip before cutting the video short. The video then instructs viewers to "stay connected" for the results. Presumably, the prototype will perform impressively. Outrunning a Model X P100D with Ludicrous mode means doing 0-60 in less than 2.9 seconds. Faraday Future is slated to unveil its production electric vehicle at CES 2017 in early January. Check out the video and read more at Teslarati.

Ohio senator with deep dealer ties proposes anti-Tesla bill

The fight against customer-direct car sales by Tesla Motors continues around the US, and the California-based company can now count dealership groups in Georgia and Ohio among its adversaries. In Ohio, Tesla has opened company-owned stores in Cincinnati and Columbus and is now fighting a state dealership association that's pushing for legislation that explicitly outlaws direct dealer-to-public sales after a lawsuit against Tesla was dismissed last week, Automotive News says. The proposed law (Senate Bill 260) would prevent any entity from selling vehicles if it "is a manufacturer, or a parent company, subsidiary, or affiliated entity of a manufacturer, applying for a license to sell or lease new or used motor vehicles at retail." Under Ohio's current laws, Tesla says its stores are perfectly legal, but clearly that would would drastically change if SB260 becomes law without some sort of provision to 'grandfather' dealers opened before the legislation passes. Ohio's dealers say Tesla threatens their network since it sets a precedent for other automakers to use the same practice. The politician behind the bill received at least $42,825 from dealership owners, employees and PACs. The politician behind the anti-Tesla bill in Ohio is Senator Tom Patton (R-Strongsville), who "received at least $42,825 from state and national auto dealership owners, employees, and political action committees (PACs) between 2002 and 2013," according to Media Trackers. His Facebook page is filling up with negative comments about his "crony capitalism" actions. Meanwhile, a Georgia exemption from that state's prohibition of automaker-to-public sales states that a company can directly sell as many as 150 zero-emissions vehicles a year, the Atlanta Business Chronicle says. Tesla sold about 500 of its Model S sedans there last year, with the rest of the cars being registered in California. The automaker is looking to expand that exemption tenfold to 1,500 vehicles. Georgia and Ohio join states such as Massachusetts, New York and Texas that have done battle with Tesla and its business model, with Texas thus far being the most formidable opponent. CEO Elon Musk said last year that he may go to the federal government to get such laws changed on a national level. That's not surprising since Tesla's preparing to start selling its Model X crossover and could unveil its cheaper EV (possibly called Model E) at the Detroit Auto Show next year.