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BMW i gets in on ridesharing with Scoop investment

The ridesharing investments are starting to roll in quickly now, and BMW i Ventures is the latest to drop some cash to get in on the trend. The automaker's venture-capital arm put an undisclosed amount of money into Scoop, a ridesharing platform based in California and operating in the Bay Area. BMW i's investment in Scoop Technologies is part of a $5.1 million seed round that included several other firms. It follows news that VW put $300 million into a service called GETT and that Toyota has partnered with Uber for ridesharing and leasing. There's also GM's $500 million investment in Lyft and its own car-sharing service, Maven. Automakers may soon run out of startups to pump money into. Oh, and don't forget about Apple's billion-dollar investment in Didi Chuxing, the Chinese Uber. Scoop's app is designed to let commuters find each other and drive together to reduce traffic, something the Bay Area and California in general can benefit from; then there's the added bonus that packing more people into a car unlocks access to the carpool lane. Scoop also partners with employers, like Cisco, to help people that are all going to the same place get to and from work. Employers can subsidize the cost of the rides as a perk and to encourage the app's use. And because plans can change, there's a ride-home guarantee that will reimburse you for costs getting home if you find yourself stranded. The service launched in 2015 in Pleasanton, CA, and is still in a limited rollout that includes San Francisco, Palo Alto, Sunnyvale, and North San Jose. It's not clear how or if BMW i will integrate the tech into its vehicles. This could just be an investment to get a foothold into a young ridesharing company, or it could be a sign that BMW wants to build the app's functionality into i cars. Related Video:

BMW i8 with 500+ horsepower in the cards?

While BMW makes plenty of machinery to keep enthusiasts interested, its most enticing models are often based on more ordinary ones. That's what made the arrival of the i8 so captivating, emerging as the first stand-alone BMW sports coupe since the M1. But if its dual purpose - trying its best to both embrace the earth and traverse it rapidly - somehow left you disappointed, the next development could prove to fix that.
According to Automobile, BMW is working on a more potent i8S model. The hardcore version of the hybrid sports car would offer more power and a stiffened chassis to make it that much more aggressive. The Bavarian automaker is reportedly still evaluating two potential powertrain options: The first would pair a 2.0-liter twin-turbo four-cylinder good for 320 horsepower to an electric motor with another 204 hp. The second would use a 3.0-liter straight six with 480 hp and an electric motor with 109 hp. Both would be mated to a nine-speed dual-clutch transmission and an integrated starter motor packing an extra 27 hp.
Either way, we'd be looking at a combined output well in excess of 500 horsepower - far more than the existing i8's 228-hp turbo three and 129-hp electric motor - dropping the 0-62 time down from 4.1 seconds to an estimated 3.5. Couple that to a more advanced carbon chassis, wider tires and other goodies, and the i8 would be transformed into a far more capable performance machine than it already is.

Why BMWs are cheaper than Hyundais in Korea

Bloomberg reports shifting tariff regulations have upended the traditional automotive pecking order in Korea. Thanks to cheaper import taxes, foreign brands have seen market share jump from 28 percent to 41 percent over the last two years. BMW, Mercedes-Benz and Audi have all capitalized on the shift, with domestics like Hyundai and Kia suffering at the hands of their German rivals.
Taxes on European imports have fallen from 8 percent in 2011 to just 3.2 percent today. Over the next few years, tariffs will all but be eliminated for most imports, and taxes on US-made vehicles are expected to fall to just 4 percent in 2014. By 2016, that number will be zero. Needless to say, Hyundai and Kia are concerned about the shift.
Hyundai has seen profit fall by 15 percent last quarter, and the company says it is on pace to see the slowest sales growth since 2007. The company's shares have fallen by 12 percent. In order to stem the losses, Hyundai has discounted its midsize sedans and started working on diesel engine options.