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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.

Fastest cars in the world by top speed, 0-60 and quarter mile

A claim for the title of “Fastest Car in the World” might seem easy to settle. ItÂ’s actually anything but: Are we talking production cars, race cars or customized monsters? And what does “fastest” even mean? For years, car publications have tended to define “fastest” in terms of an unbeatable top speed. ThatÂ’s distinct from the “quickest” car in a Usain Bolt-style dash from the starting blocks, as with the familiar 0-60 mph metric. Professionals often focus on track lap times or elapsed time-to-distance, as with a drag racer thatÂ’s first to trip the beam of light at the end of a quarter-mile; or the 1,000-foot trip of nitromethane-powered NHRA Top Fuel and Funny Car dragsters. Something tells us, however, that you're not seeking out an answer of "Brittany Force rewriting the NHRA record books with a 3.659-second pass at a boggling 338.17 mph." For most barroom speed arguments, the focus is firmly on cars you can buy in showrooms, even if many are beyond the financial means of all but the wealthiest buyers and collectors. Here are some of the enduring sources of speed claims, counter-claims, tall tales and taunting dismissals that are the lifeblood of car enthusiasts – now with EVs adding an unexpected twist to these passionate pursuits.   Fastest from the blocks: 0-60 mph Thirty years ago, any car that could clock 60 mph in five seconds or less was considered extremely quick. Today, high-performance, gasoline-powered sedans and SUVs are routinely breaking below 4 seconds. As of today, the 2023 Dodge Challenger SRT Demon 170 crushes all with a 0-60 mph time of just 1.66 seconds. That's simply absurd, but keep in mind the Demon was engineered with the single-minded purpose of going fast in a straight line. It's also important to realize that direct comparisons are difficult, because not all of these times were accomplished with similar conditions (prepped surfaces, adjustments for elevation and so on). The moral here is to take these times with a tiny grain of salt. After the Dodge, the Rimac Nevera comes in with an officially recorded 0-60 mph time of just 1.74 seconds. EVs crowd the quickest list, with the Pininfarina Battista coming in a few hundredths slower (1.79 seconds) than the Nevera and the Lucid Air sapphire (1.89 seconds) right after that. Eventually, you arrive to the Tesla Model S Plaid, which has a claimed 1.99-second 0-60 mph time, though instrumented testing by Car and Driver shows it accomplishes the deed in 2.1 seconds.

Here's today's round of auto plant closures in response to coronavirus

More automakers have shuttered factories, as businesses everywhere work to slow the spread of the Covid-19 coronavirus — and as the pandemic slows sales and disrupts parts supply chains. On Friday, the following closures were announced: • Volvo will close its factories in Sweden and the United States from March 26 to April 14. Volvo's U.S. facility, in Charleston, South Carolina, makes the S60 sedan. Its assembly plant in Torslanda, Sweden, turns out the XC90, SC60, and V90. Other Swedish facilities make engines and component parts. A Volvo factory in Ghent, Belgium, that builds the XC40 and V60 closed earlier this week and is expected to remain offline until April 6. Volvo's four factories in China have been reopened after a shutdown earlier this year. • Jaguar Land Rover announced that it will suspend production at its assembly plants in the UK over the coming week. The shutdown is expected to last until April 20. Elsewhere, production continues at the company's factories in India and Brazil, and JLR's joint-venture plant in China reopened at the end of February. • Bentley is closing its factory in Crewe, England, for four weeks, effective today. • Bugatti has put its atelier in Molsheim, France, on hiatus. No date was given for when assembly of its supercars might resume. • Mercedes-Benz on Monday will shut down its SUV factory in Alabama and its van assembly plant in South Carolina. Both will remain closed for a minimum of two weeks. Tesla yesterday revealed that it will suspend operations at its Fremont, California, vehicle assembly plant next week, on order from local officials there. Yesterday's factory closure announcements also included the U.S. assembly plants for Toyota (until April 6), Volkswagen (through March 29), Subaru (through March 29), and Hyundai (no time period specified). They join GM, Ford, Chrysler, Honda, Nissan, and Harley-Davidson, which earlier this week announced the suspension of production at their facilities. Plants/Manufacturing Bentley Bugatti Jaguar Land Rover Mercedes-Benz Volvo coronavirus