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Daimler wants to cut EV research spending as it preps EQ

Daimler AG is hoping that the legwork it's done preparing its EQ electric-vehicle sub-brand will allow it to slightly reduce annual spending on plug-in vehicle technology. The Mercedes-Benz parent is looking to cut electric-vehicle research-and-development spending to $13.2 billion in 2017 from about $15.4 billion this year, Bloomberg News says, citing comments Daimler CEO Dieter Zetsche made to journalists in Hamburg, Germany, this week. Daimler's annual R&D spending is up from about $11.5 billion in both 2013 and 2014. Like its competitors – for example Audi and BMW and its i sub-brand – Daimler is aiming to have as much as 25 percent of its annual vehicle sales be battery-electric within the next 10 years as part of an effort to meet stricter greenhouse-gas emissions mandates in both Europe and North America. In fact, Mercedes-Benz and Daimler's Smart division collectively have at least 10 electric-vehicle models on their slates during the next few years, though Zetsche said the German automaker will continue to find ways to make its gas- and diesel-powered vehicles more fuel-efficient as well. Daimler introduced a concept version of the Generation EQ electric SUV at the Paris Motor Show late last month. It comes powered by two electric motors and is made up of a combination of steel, aluminum, and carbon fiber, and boasts a 311-mile single-charge range (on the relatively lenient European testing standards). The SUV also has 402 horsepower, and the ability to go from 0 to 60 miles per hour in less than five seconds. Zetsche said at the time that Daimler was prepping powertrains and platforms for electric sedans, wagons, coupes, and roadsters, in addition to SUVs. Additionally, Daimler's Deutsche Accumotive unit is producing the lithium-ion battery packs for the EQs. Featured Gallery Mercedes-Benz Generation EQ Concept: Paris 2016 View 19 Photos News Source: Bloomberg News via Automotive News-sub.req. Green Mercedes-Benz smart Electric eq mercedes eq

Mercedes-AMG to phase out 5.5-liter V8 after next year [UPDATE]

UPDATE: A previous version of this story indicated that AMG's 6.0-liter twin-turbo V12 was still mated to a five-speed automatic transmission, however the latest models (including the S65 AMG sedan and coupe, SL65 roadster and G65 sport-ute are equipped with the newer seven-speed unit. Mercedes also reached out to point out that the 5.5-liter engine will be phased out gradually, not overnight. There's a lot to love about AMG's 5.5-liter twin-turbo V8. It produces as much as 577 horsepower and 590 pound-feet of torque, and delivers blistering performance to even the heaviest of vehicles. But try not to get too attached, because like its 6.2-liter, naturally aspirated predecessor, it's not long for this world. The latest word comes from Autocar, which reports that Mercedes will release the last applications for the 5.5 biturbo within these next two calendar years in the new GLE63 AMG and upcoming S63 AMG convertible. After that, even though it was only introduced in 2011, it will be phased out. Fortunately Affalterbach has a worthwhile successor already in place in the 4.0-liter twin-turbo V8 from the Mercedes-AMG GT. The smaller powerplant, already in store for the new C63, is already producing 503 hp and 479 lb-ft in S spec. That's still shy of the larger unit's output, but where the 5.5 is nearing the end of its production cycle, the 4.0 is just starting out. Of course the 4.0-liter biturbo isn't the only engine AMG is making these days. Smaller models (based on the front-drive platform) employ the 45-designation, high-output 2.0-liter turbo four. Models at the very top of the lineup, however, use a 6.0-liter twin-turbo V12 that may be a dinosaur, but with 621 hp and 738 lb-ft of torque on tap, still can't be beat.

Race Recap: 2015 Hungarian Grand Prix is Magyar for 'What a race!'

Every driver on the Formula 1 grid dreams of taking home the silverware, but only one driver each year can do it. Barring disaster in 2015 it looks like it's going to be Lewis Hamilton. The Brit has been so dominating at the front of the grid on Saturday, we can't see how he'll miss out on winning the second annual FIA Pole Position Trophy. That's the accolade introduced last season in another manufactured attempt to give drivers something to work for on Saturday, since the FIA felt leading into the first corner didn't have the pull it used to. Hamilton took his ninth pole of the season in Hungary for Mercedes-AMG Petronas with a crushing lap that put him almost six tenths ahead of his teammate Nico Rosberg in second. All Hamilton needs is one more spot at the top of the grid this season, and he's the Pole Position trophy winner. Thrilling stuff. Behind Rosberg the gaps stayed smaller, Sebastian Vettel in the Ferrari a little more than a tenth behind Rosberg, Daniel Ricciardo in the Infiniti Red Bull Racing less than four one-hundredths behind Vettel. We feel almost as vexed watching Kimi Raikkonen as he feels driving – he's finally got a good Ferrari, now he can't get a good weekend. The front wing broke on his car in Free Practice 1, then a water leak in Free Practice 3 robbed him of setup time on the soft tire. He lines up in fifth about two tenths behind Ricciardo. The slow, tight Hungaroring didn't agree with the Williams chassis, Valtteri Bottas the first of the Grove team drivers in sixth, his teammate Felipe Massa two places back. Between them is Daniil Kvyat in the second Red Bull in seventh. Teenager Max Verstappen put in a good showing in the Toro Rosso to grab ninth, while Romain Grosjean in a wriggling, squishy, sliding Lotus classified his appearance in Q3 at all as "a miracle." As for the race that followed, we don't expect to see another like it for a long time – it was the real thrilling stuff, one shock after another. The drama began after the first parade lap, when Felipe Massa lined up out of position and the start was aborted. The drivers did another parade lap, then lined up with everyone in place. Mercedes got swamped as soon as the lights went out. Vettel ran around both of them and led the race into the first turn, Raikkonen had come from fifth to third by Turn 1, then got the inside line on Rosberg through Turn 2 to take second place.