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BMW will invest $750 million to build Mini EVs in the UK

LONDON — BMW said on Monday it will invest 600 million pounds ($750 million) in its UK plants to take its Mini brand all-electric by 2030, giving a fresh boost to Britain's car industry after years of Brexit-related uncertainty. From 2026, the German premium carmaker will make two electric models at its Mini plant in Oxford — the Mini Cooper 3-door and the compact crossover Mini Aceman. The plant will make only electric models as of 2030 and many of those cars will be exported to markets around the world, BMW production chief Milan Nedeljkovic said. Speaking to journalists in Oxford, Nedeljkovic said the company wants to use batteries made in Europe in the new models made in Oxford, but did not specify whether they would come from the UK, saying it depending on the attractiveness of the market for its suppliers. The same two models will also be made in China and exports of those cars will begin in 2024. Also speaking in Oxford, British business minister Kemi Badenoch said: "We want auto manufacturing not just to stay in the UK, but to be the best in the world, and this is part of that story". Badenoch declined to comment on the level of subsidy to be received by BMW for Mini production, reported by British media to be 75 million pounds. BMW will also invest in its plant in Swindon which makes parts for Mini models. It was too soon to say what would happen to the engine plant in Hams Hall, near Birmingham, Nedeljkovic said. The small, fast and affordable original Mini went on sale in 1959 and has remained popular under BMW since it revived the brand in 2001, but its future in Britain has been uncertain for years, exacerbated by fears that Brexit would prompt the company to relocate production to Germany, China or elsewhere. Still, the industry remains on edge with both Britain and Europe's carmakers calling for a delay in the implementation of post-Brexit "rules of origin", under which 45% of the value of an EV being sold in the European Union must come from Britain or the EU from 2024 to avoid tariffs. "The [auto] industry is screaming at the EU," Badenoch said in Oxford, arguing that tariffs on EU and UK-made cars would only help Chinese manufacturers and that more time was needed to build local capacity. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Mini previews an electric crossover to be revealed soon

In a dense press release about its upcoming design language (called "Charismatic Simplicity"), Mini provided an odd-looking but somewhat useful teaser of a new electric crossover SUV. It didn't name it, and all it said specifically about it was that it's "the concept study of a – fully electrically powered – crossover model for the premium small-car segment." That fits the description of one of two new crossovers that will be sold alongside the next-generation Countryman. The photo provides a silhouette of the crossover from the front three-quarter perspective, as well as the uncovered front fender of the same vehicle in the corner. It does have the familiar boxy Mini shape, and it seems to have some sort of roof platform fitted. The mirrors look like little rounded rectangles, which matches what we've seen in spy photos of the Countryman. That exposed fender seems to reveal the most about the crossover. The flares have a sort of trapezoidal shape, which is continued into the sheetmetal. The actual wheel openings are a little more rounded. The crisper angles also show up in the way the headlight fits to the fender. While the press release that accompanied this teaser is full of fluffy language, there are some more specific and helpful details about what we will see in this model and other new Minis. On the outside, the Union Jack taillights will remain a key feature. Inside, Mini is focusing on more sustainable materials, so it's dropping real leather and aiming to eliminate as much chrome as possible. It will also feature a circular display in the middle for infotainment, though some physical switch gear will remain. This crossover will be revealed next month. It will also showcase the new platform that Mini designed with electric powertrains in mind, unlike the current Mini Cooper SE Hardtop, which adapts a battery and motor to fit an older internal combustion car. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

BMW profit of $2.7B is down as automaker invests to keep luxury lead

Despite selling 6.6-percent more vehicles - a record by volume - and posting higher revenues in the second quarter of 2013, BMW Group's profit of 2.07 million euros ($2.75 billion) is down 8.8 percent from last year. Investments in new technology (e.g. the new i3) and personnel, in addition to a competitive market, are to blame, BMW states. But the automaker remains committed to its fiscal targets for 2013, which, Chairman of the Board of Management of BMW AG, Norbert Reithofer, says will be "on a similar scale to 2012."
The BMW brand's sales performance in the first half of the year, which increased by 7.7 percent to 804,258 vehicles delivered, was good enough for it to maintain its lead in the luxury market, narrowly beating Audi, which delivered 780,510 vehicles, Automotive News reports. Mercedes-Benz delivered 694,433 vehicles to cement third place.