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Macron hosts BMW and Volvo execs as they consider moving operations to the U.S.

PARIS — French President Emmanuel Macron on Monday will host a dinner with a number of European chief executives to convince them not to move production to the United States, where lower energy prices and the Inflation Reduction Act is proving a lure. European leaders have been alarmed by massive anti-inflation measures passed by Joe Biden's administration, which make tax breaks conditional on U.S-manufactured content and which EU industries say make investment in Europe less competitive. "We're having difficulties with companies which are starting to consider offshoring their production or making future investment outside Europe," a French official said, listing high energy costs and the U.S. legislation as reasons. At the Elysee palace, Macron will seek to convince executives from companies including chemical groups Solvay and Air Liquide, carmakers Volvo and BMW, pharmaceutical giant AstraZeneca and telecom groups Ericsson and Orange to stay in Europe and choose France for their future investments. Macron, who has called on the European Union to launch its own 'European Buy Act' to subsidise European production, has encountered resistance from the more anti-protectionist members of the bloc. It was unclear what Macron would tell the executives to convince them not to move to the U.S. But France has unveiled a number of measures over the weekend to cushion the impact of high energy bills for French companies. European companies have been increasingly strident about the impact of soaring energy prices since Russia's invasion of Ukraine, which has pushed up gas and electricity prices. Eric Trappier, CEO of Dassault Aviation, who heads the French federation of metals industries, warned in the Les Echos newspaper over the weekend that Europe should protect its own industry more aggressively or see it move to other shores. Related video: Government/Legal Green Plants/Manufacturing BMW Volvo

BMW working on X2 crossover

Like the rest of the auto industry, BMW is going wild for crossovers, and the company's North American boss is wishing for supply to sell even more vehicles in the segment. It looks like the Bavarian brand is ready to feed all of this demand because the X2 reportedly has the green light for production, according to unnamed insiders speaking to Autocar. As its name suggests in BMW parlance, the X2 would be a five-door, high-style, coupe-like CUV that would be a smaller take on the X4 and X6. While these models aren't necessarily paragons of aesthetic beauty in the brand's lineup, their development is partially subsidized by other vehicles. The X2 reportedly shares drivetrains, electrical systems, and a platform with the next-gen, front-wheel drive X1 (pictured above). Sales in the UK at least could begin as soon as the second half of 2017, according to Autocar, and an M Performance version boasting up to 300 horsepower might even join the lineup in 2018. "We're finalizing the first prototypes now," a source said to Autocar, and a concept should preview the design before release, possibly at next year's Geneva Motor Show. BMW trademarked the X2 name in 2012, and rumors have continued to arise about it since then, including a possible design sketch. Related Video:

This is the final BMW M3 Coupe

Pour some out for the BMW M3 Coupe, folks. Production of the two-door, fixed-roof M3 has officially ended, and the orange car you see here is the very last one.
But we don't just meant the last M3 Coupe of this generation - this is the last M3 Coupe ever, since the next-gen car will launch under the name M4, staying true to BMW's revised nomenclature where coupes and convertibles will use even numbers. (Don't forget, the new 3 Series coupe becomes the 4 Series for the 2014 model year.) There will, of course, be a new M3, but that badge will only be found on the four-door version.
BMW first launched the M3 Coupe in 1986, and since then, more than 40,000 examples have been built. Sedan and convertible versions were added later in the car's life, and BMW says that the current 2013 model year convertible will remain in production until September of this year.