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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.

2016 Singapore Grand Prix Race Recap | Setting the stage for the final rounds

The Singapore Grand Prix always features a safety car. This year the nation-state got caution out of the way early: seconds after the lights went out, Toro Rosso's Carlos Sainz collided with Force India's Nico Hulkenberg, sending Hulk into the wall minus a wheel and some bodywork. The safety car led the field for three laps, then ducked into the pits so abruptly that a track marshal was still retrieving debris as race leader Nico Rosberg hit the throttle down the front straight. Rosberg avoided the pedestrian on his way to a two-second lead over Daniel Ricciardo in the Red Bull, Lewis Hamilton in the second Mercedes-AMG Petronas, and Ferrari driver Kimi Raikkonen. On Lap 8 of the 61-lap race Mercedes engineers warned Rosberg and Hamilton about brake management. Rosberg had no trouble until the waning laps of the race, his teammate inadvertently the cause. Raikkonen got ahead of Hamilton on Lap 33 while Hamilton nursed his car. Trying to get Hamilton back in front of the Ferrari, Mercedes pitted Hamilton on Lap 46 and also ordered him to turn his engine up. Ferrari debated for a lap about whether to bring Raikkonen in, finally issuing a last-second order to pit. The Finn emerged behind Hamilton, but executing the trick to get Hamilton back into third gave Ricciardo breathing room in second place. Red Bull brought Ricciardo in on Lap 48 for a set of super soft Pirellis. Returning to the track 25 seconds behind Rosberg, Ricciardo cut from one to four seconds out of that gap on every lap. By Lap 59 the Aussie was little more than a second behind the German. Had the race gone three more laps, Ricciardo might have pulled off the upset. This time Rosberg stayed in front to win his third race in a row and his first victory in Singapore, all in his 200th grand prix. Ricciardo and Hamilton completed the podium; Raikkonen claimed fourth. Sebastian Vettel wrangled an incredible fifth place after starting last; the German set the worst time on the grid when his suspension broke in Q1. Max Verstappen, having lost places at the start due to wheelspin again, recovered for sixth. Fernando Alonso made the most of his McLaren with seventh, ahead of Sergio Perez in the lone remaining Force India, a resurgent Daniil Kvyat in the Toro Rosso, and Kevin Magnussen scoring Renault's second points finish of the season. Hamilton has not had a good time of it since the end of the summer break – engine troubles in Belgium, a botched start in Italy, and zero rhythm in Singapore.

2016 Mercedes-Benz C350e Plug-In Hybrid casts a green light in Geneva

Mercedes revealed another plug-in hybrid model, the C350e, at the Geneva Motor Show. Based on the company's scalable hybrid platform, the C350e offers 19 miles of electric range, and the total system makes 279 horsepower and 443 pound-feet of torque. It's part of the company's goal to bring 10 new plug-in models to the market by 2017 around the world. The hybrid system teams an electric motor with a turbocharged four-cylinder engine with a seven-speed gearbox. The C350e also has regenerative braking and can be driven in four modes ranging from Eco to Sport Plus. The lithium-ion battery pack can be charged in 1 hour, 45 seconds, and it has a total capacity of 6.2 kilowatt-hours. The C350e has an Airmatic suspension, an interior climate control system that can be controlled via the internet and offers Mercedes' suite of driver-assist technologies. Mercedes will sell the model as a sedan and a wagon in some markets. The new Mercedes-Benz C 350 e: Efficiency, dynamism and comfort – the best of three worlds The new Mercedes-Benz C 350 e: Efficiency, dynamism and comfort – the best of three worlds Following its premiere in the S-Class, Mercedes-Benz is now offering its most advanced hybrid technology yet in the C-Class and, for the first time, also in an Estate model. The dynamism and efficiency of the C 350 e make it a convincing proposition in both its Saloon and its Estate guise. With a range of 31 kilometres in purely electric mode, local emission-free driving is now a reality. Its four-cylinder petrol engine, in conjunction with a powerful electric motor, gives it a total system output of 205 kW (279 hp) and torque of 600 Nm. The new C 350 e thus delivers the performance of a sports car and yet offers certified consumption figures of just 2.1 litres of fuel per 100 kilometres both as a Saloon and as an Estate. This corresponds to CO2 emissions of 48 grams (49 grams for the Estate) per kilometre. Both models are also equipped as standard with AIRMATIC air suspension plus a Pre-Entry Climate Control system that can be controlled via the internet, adding up to a truly exceptional level of driving and climate comfort. Prof Dr Thomas Weber, Member of the Board of Management of Daimler AG and responsible for Group Research and Mercedes-Benz Cars Development: "The PLUG-IN HYBRID is an investment in the future of Mercedes-Benz and we believe it will become established as the successful technology for maximum efficiency coupled with powerful dynamic performance.