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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.

Autoblog Minute: New Civic, FCA UAW Agreement, Frankfurt

FCA reaches a tentative agreement with the UAW, Honda reveals the all-new 2016 Civic, and the Frankfurt Motor Show dazzles us again. Autoblog senior editor Greg Migliore reports on the Weekly Recap edition of Autoblog Minute. Show full video transcript text [00:00:00] FCA reaches a tentative agreement with the UAW, Honda reveals the all-new 2016 Civic, and the Frankfurt Motor Show dazzles us again. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. FCA reached a tentative labor agreement with UAW leadership. The major focus of the new deal reportedly includes: the eventual elimination of the two-tier pay scale [00:00:30] and pooling worker health care. Now that a leadership agreement is in place, the deal will be sent to FCA's rank-and-file. FCA has about 36,000 hourly employees. We got a first look at the interior and exterior of the 10th-generation Civic. Honda expects the new sedan to dominate the C-segment when it hits dealerships later this fall. Civic coupe, five-door hatchback, Si and Type R will all come later. The 2015 Frankfurt Motor Show is in the books and there was a lot of news to get excited about. [00:01:00] Porsche introduced a fully electric concept car in the Mission E. If they make this car, Porsche could give Tesla nightmares. We also saw SUVs from Jaguar and Bentley. There were two beautiful Italian convertibles from Ferrari and Lamborghini. Meanwhile, Mercedes introduced a concept of their own in the IAA - a vehicle that experiments with adaptable aerodynamics. Those are the highlights from the week that was. Be sure to check out my full recap this Saturday. Plus we'll have some added insight on General Motors' deal to [00:01:30] avoid federal prosecution. For Autoblog, I'm Greg Migliore. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. UAW/Unions Frankfurt Motor Show Bentley Chrysler Ferrari Honda Jaguar Lamborghini Mercedes-Benz Porsche Rolls-Royce Tesla Convertible SUV Concept Cars Electric Supercars Autoblog Minute Videos Original Video porsche mission e concept

Daimler employees can set email to auto-delete during vacation

The Internet has shrunk the world in terms of the way people communicate by making it possible to send an email from Oslo and have it show up in Cleveland almost immediately. But that instant contact has wrecked the work/life balance for many. They get home from a long day at the office, yet they can never fully put their feet up and relax because another hour or more of checking and replying to emails awaits. However, German automotive giant Daimler is putting an end to that churn, at least while its employees are on vacation.
About 100,000 Daimler employees in Germany are eligible to opt-in to a new program called Mail on Holiday, according to The Atlantic. When the workers go on vacation, they can switch it on, and the service auto-deletes all of their incoming email. "Our employees should relax on holiday and not read work-related emails," said Wilfried Porth, board member for human resources, to The Financial Times as cited by The Atlantic.
Mail on Holiday puts a thumb on the scale of work/life balance in favor of a little more free time. The system means that Daimler employees shouldn't even be tempted to check their email on vacation because there's nothing there - and it also avoids them coming back from a relaxing holiday only to find a mailbox packed full of hundreds of unread messages. These days, people are absolutely obsessed with their work, often to the detriment of their health, not to mention spending time with their families and friends. On one hand, Mail on Holiday sounds like the sort of vacation breakthrough we'd need to truly unplug and unwind, but on the other hand, it makes our skin crawl just thinking about the lack of communication. What's your perspective? Have your say in Comments.