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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.

BMW i3 wins 2015 Green Car of the Year award

The popular little BMW i3 (popular in the US, at least) was named the 2015 Green Car of the Year at the Los Angeles Auto Show today. The award doesn't just take into account a car's green credentials but also its "availability to the mass market." While the i3 is a bit expensive, starting at $41,350, it is becoming available at BMW dealers across the country, which cannot be said about a lot of other new plug-in vehicles released these past few years. The other finalists this year were the CNG-powered Chevy Impala Bi-Fuel, the Audi A3 TDI, the Honda Fit and the VW Golf. The BMW i3 with range extender gets a fuel economy rating of 117 MPGe and 39 miles per gallon (in gas mode) with a 72-mile EV range. The EV-only version gets 124 MPGe combined (137 in the city and 111 on the highway) and has an EV range of 81 miles. Green Car Journal has handed out the award every year for ten years now, naming the Honda Accord Hybrid/Plug-In Hybrid the winner last year, the Ford Fusion models (plug-in hybrid and hybrid) in 2013, the Honda Civic Natural Gas in 2012 and the Chevrolet Volt in 2011. BMW i3 NAMED GREEN CAR JOURNAL'S 2015 GREEN CAR OF THE YEAR" Milestone Carbon Fiber Electric Car Wins the Auto Industry's Most Important Environmental Award at Los Angeles Auto Show LOS ANGELES, CA (November 20, 2014) – BMW's i3, an innovative electric car built with a lightweight carbon fiber passenger cell and an aluminum drive module, has been named Green Car Journal's 2015 Green Car of the Year®, which was announced at the LA Auto Show. Green Car of the Year® finalists also included the Audi A3 TDI, Chevrolet Impala Bi-Fuel, Honda Fit, and VW Golf. The Green Car of the Year® award is an honor widely recognized as the auto industry's most important environmental accolade. Green Car Journal, the leading voice in the intersection of automobiles, energy, and the environment since the publication's launch in 1992, celebrates the high-profile award's 10th anniversary at the L.A. Auto Show this year. "BMW's i3 is a milestone vehicle in many respects and illustrates the automaker's expansive vision of future motoring," said Ron Cogan, editor and publisher of Green Car Journal and CarsOfChange.com.

Karma Automotive partners with BMW for powertrains

Now in the process of rising from the ashes of Fisker, the newly renamed Karma Automotive has announced a powertrain supply deal with BMW. Only instead of Karma providing BMW with technologies (as Tesla has for Daimler and Toyota), this deal goes the other way around. It is BMW that will be providing Karma with its powertrain components moving forward. Little in the way of specifics was disclosed regarding precisely what the supply deal will entail. However according to the statement below, it will include "high voltage battery charging systems and a wide range of hybrid and EV systems." BMW has demonstrated its competence in developing and manufacturing such components with vehicles like the i3 and i8, and ActiveHybrid versions of the 3 Series, 5 Series, and 7 Series sedans. Karma Automotive is what Chinese component manufacturer Wanxiang renamed the company formerly known as Fisker Automotive once it acquired the rights to the company and the Fisker Karma which it previously produced. The brand name, however, remained the property of Henrik Fisker's coachbuilding operation. The original Fisker Karma was powered by a 2.0-liter turbo four supplied by General Motors, with a lithium-ion battery pack from A123 systems. Karma Automotive Signs Supply Agreement With BMW COSTA MESA, Calif., Nov. 12, 2015 /PRNewswire/ -- Karma Automotive announced today that BMW has agreed to be a supplier in ensuring their vehicles are built with the highest quality automotive parts. BMW will supply Karma Automotive with their latest powertrain components, including high voltage battery charging systems and a wide range of hybrid and EV systems. Throughout automotive history, BMW has been globally recognized for engineering and manufacturing world-class products. They are a proven technology leader and renowned for conceiving and delivering groundbreaking innovations. Karma Automotive will integrate the first BMW components into its plug-in hybrid flagship vehicle, which will re-launch in 2016. The next generation of vehicles already in development will utilize more of BMW's powertrain technology. "The Wanxiang Group is giving Karma Automotive the opportunity to bring a stunning car back to the market, and the partnership with BMW and their outstanding track record is a great fit for the future," said Karma's CEO Tom Corcoran.