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Automakers face reality of EVs' cost — to jobs, and their bottom line

Related: We obsessively covered the Frankfurt Motor Show — here's our complete coverage FRANKFURT, Germany — European car bosses gathering for the Frankfurt auto show are beginning to address the realities of mass vehicle electrification, and its consequences for jobs and profit, their minds focused by government pledges to outlaw the combustion engine. As the latest such announcement by China added momentum to a push for zero-emissions motoring, Daimler, Volkswagen and PSA Group gave details about their electric programs that could give policymakers some pause. Planned electric Mercedes models will initially be just half as profitable as conventional alternatives, Daimler warned — forcing the group to find savings by outsourcing more component manufacturing, which may in turn threaten German jobs. "In-house production is almost irrelevant to the consumer," Daimler boss Dieter Zetsche told reporters on the eve of the Frankfurt Motor Show, in the midst of a German election campaign in which automotive jobs have loomed large. The company set a target of saving 4 billion euros ($4.8 billion) by 2025 to help fund the cost of its electric cars. "Daimler is the first company to state explicitly how much electric vehicles are going to hurt margins," said Bernstein analyst Max Warburton. "It was brave to go first — but of course it won't be the last." Volkswagen, for its part, said it was seeking new global supplier contracts to source 50 billion euros ($60 billion) of electric car content including batteries, which are not yet manufactured competitively in Europe. "A company like Volkswagen must lead, not follow," Chief Executive Matthias Mueller told reporters. VW diesel emissions-cheating exposed by U.S. regulators in 2015 triggered global public outrage, dozens more investigations into test-rigging by the wider industry and a push by some lawmakers to ban diesel and eventually all engines. TIGHTENING NOOSE Tesla shares jumped nearly 6 percent on Monday after a Chinese minister said it was a question of when, not if, Beijing bans fossil-fuel cars, tightening the noose around the combustion engine. France and Britain have promised its outright abolition by 2040. But PSA, the maker of Peugeots and Citroens, said it was concerned about the risks if consumers were left behind in the rush, and a new generation of battery cars does not sell.

Formula One speeds towards radical thousand-horsepower shakeup

The teams, the drivers, the fans, the circuits... few, if any, were satisfied with how Formula One has shaped up since the current regulations took hold last year. But that doesn't mean they aren't working on it. At a recent meeting of the F1 Strategy Group, the leading parties in the sport outlined a new framework that would radically shake up the cars themselves while keeping costs in check. And the biggest change could see the engines producing around 1,000 horsepower. Although a proposal put forth by Ferrari to ditch the current V6 hybrid engines in favor of new twin-turbocharged units was rejected by Honda and Mercedes, the members of the group approved in principal to increase the fuel flow in the existing engines to dramatically boost output. As it stands, the current 1.6-liter turbocharged V6 engines develop around 600 horsepower, with an additional 160 or so kicked in by the electric Energy Recovery System, for a combined output of about 760 hp. What's not clear at the moment is whether the increased fuel flow would necessitate either the return of mid-race refueling (currently banned) or the installation of larger fuel tanks. Red Bull and McLaren also submitted proposals to radically redesign the shape of the cars as well, however a more evolutionary approach was adopted instead. Though far from finalized, the new design would keep the same basic form of the current chassis, but with adjustments to make them more aesthetically pleasing while producing more downforce. Wider tires are also said to be part of the mix. With more power and more grip from the tires and aero, the resulting cars would most certainly end up going much faster than the current ones, which are already starting to nudge the lap records at some of the circuits, many of which were set during the V10 era. The F1 Strategy Group is made up of representatives of the FIA, Formula One Management and six leading teams. The next step will be for the teams' technical directors to iron out how to implement what their bosses have agreed to. If they settle the details fast enough, the revised regulations could be pushed through in time for next season. News Source: AutosportImage Credit: Mark Thompson/Getty Motorsports Ferrari Honda Infiniti McLaren Mercedes-Benz F1

Rosberg survives the Mexican mess | 2016 Mexican Grand Prix recap

Roughly ten messy laps defined the Mexican Grand Prix – five laps at the start and five at the end. Those laps included a couple of actual wrecks and a few more near wrecks that turned the entire day into chaos. To have any chance of winning the 2016 Driver's Championship, Lewis Hamilton needed to get his Mercedes-AMG Petronas across the finish line ahead of teammate Nico Rosberg. Once again we got a weekend full of vintage Hamilton, the Brit dominating the from Friday to Sunday, except for the first corner of the first lap. Pole-sitter Hamilton reached Turn 1 clearly in front of the field. But he couldn't make the corner and stay on track, so he zipped into the runoff area and over the grass, rejoining at Turn 3 still ahead of the field. The stewards didn't penalize Hamilton, one commentator's explanation being that Hamilton "was not battling another car." The non-action left car #44 to enjoy a lights-to-flag win. At that very same corner, Rosberg also availed himself of the runoff area. His infraction seemed destined to incur a penalty until replays showed that Max Verstappen in the Red Bull slid wide and bumped Rosberg, causing the German to go off track. No penalties were handed out there, either. Verstappen would return to hound Rosberg later in the race when angling for second place. Verstappen took a stab through Turn 4 on Lap 50 of the 71-lap race, but ran off the track and lost touch with the Mercedes by Lap 55. Ferrari got half of its strategy right in Mexico, putting Sebastian Vettel hard on the charge in the final stint. The German got within DRS range of Verstappen on Lap 67, with Red Bull's Daniel Ricciardo a little more than a second behind Vettel. On Lap 68, Verstappen pulled the same move as Hamilton at the beginning of the race: the Dutchman ran wide through Turn 1, zoomed over the grass and rejoined the track at Turn 3, staying ahead of Vettel the whole time. With three laps remaining, the stewards chose to investigate after the race. In spite of Verstappen's own team telling he probably needed to cede position to Vettel, Verstappen stayed in front and slowed just enough to put Vettel under threat from Ricciardo. On Lap 70 Ricciardo had closed up to Vettel's gearbox. Headed for Turn 4, Vettel swung outside to take the corner. When Ricciardo moved inside to pass, Vettel moved inside to block the Aussie while both cars were in the braking zone. The Ferrari made light contact with the Red Bull, but Vettel held his position through Turn 5.