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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.

Recharge Wrap-up: Shift to offer Teslas for Hire, Model S P85D beats Ferrari in drag race

A company called Shift plans to provide bikes and EVs for hire. Based in Las Vegas, NV, Shift will provide chauffeured ride services like Uber, but will also include a car- and bike-sharing service that delivers the desired wheels to the customer. Shift's fleet will include EVs like the Smart Fortwo Electric Drive and the Tesla Model S. Shift also promises that you will, "Be on your way within five minutes," which is a pretty tall order. Shift is scheduled to be available to members beginning this fall. Read more at The Car Connection. Nissan UK has confirmed the price of replacement batteries for the Leaf. UK drivers will be able to buy new batteries for 4,920 pounds (or about $7,738). That's considerably more than the price of $5,499 for US customers. Customers get 1,000 pounds back when they exchange their old battery. The original battery is covered under a five-year, 60,000-mile warranty, and most owners will never need to replace it. According to Nissan, only three replacement batteries have been sold out of 30,000 Leafs sold in Europe. Read more at Autocar. The Tesla Model S P85D walloped a Ferrari in an impromptu drag race video. The Ferrari driver pulls up alongside the Tesla and asks, "What you got in there?" before challenging him to a race. The Ferrari gets a head start, but the Tesla pulls out ahead quickly. The video also gets the reactions of some passengers to the car's mighty acceleration. See the video below and read the account of a drag race against a Lamborghini Aventador at Car Throttle. Australian website Drive has chosen their Cars of the Year in various categories. The Tesla Model S was a carryover winner for Luxury Car Over $80,000, but the Mercedes-Benz C200 narrowly overtook it to be crowned the overall winner. Regarding the Model S, one judge says, "This makes every other EV look at least a generation behind." The main thing that held the Tesla back from winning outright was the near-term lack of charging infrastructure. The judges did note Tesla's plans to build a network of Superchargers in Australia, but also pointed out that those plans exclude much of the country so far. See the video below and read more at Drive. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Geely plans to launch hundreds of satellites to guide autonomous cars

BEIJING — China's Zhejiang Geely Holding Group said on Tuesday it was investing 2.27 billion yuan ($326 million) in a new satellite manufacturing plant, where it plans to build low-orbit satellites to provide more accurate data for self-driving cars. Geely, one of China's most internationally-known companies due to its investments in Daimler, Volvo and Proton, is building the facilities in Taizhou, where it has car plants. It aims to produce 500 satellites a year by around 2025, with around 300 highly-skilled staff, it said in a statement. Geely's technology development arm, Geely Technology Group, launched Geespace to research, launch, and operate low-orbit satellites in 2018. Geespace will begin the launch of its commercial low-orbit satellite network by the end of this year, Geely said. Geely said low-orbit satellites would offer high speed internet connectivity, precise navigation, and cloud computing capabilities to cars with autonomous driving technology. Geely, which sold 2.18 million cars last year, is among global automakers from Tesla to Toyota to pursue autonomous driving technologies. It is building low-orbit satellites to meet demand for high-speed connectivity capabilities that can deliver fast software updates. From around 2025, Geely's cars will have more functions to connect to the satellites. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.     Green Plants/Manufacturing Mercedes-Benz Volvo Emerging Technologies Autonomous Vehicles