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Mini confirms first plug-in hybrid and it looks like it's based on the Countryman

Mini confirmed Sunday it's developing its first plug-in hybrid model, apparently based on the Countryman. The hybrid will utilize an electric motor that works with a combustion engine, expected to be a 1.5-liter turbocharged three-cylinder unit. Though the actual name wasn't specified, Mini said the vehicle will have two driving modes. With Auto eDrive, it can reach speeds of up to 50 miles per hour. Switching into Max eDrive increases top speed to approximately 77 miles per hour. The electric motor sends all of its power to the rear wheels, while the combustion engine powers the front wheels. The engine only kicks on in certain situations. Mashing the throttle brings the engine to life, as does switching the car into "Save Battery" mode, which allows the engine to charge the hybrid's battery through a generator while powering the vehicle. The engine also comes on if the vehicle's all-wheel-drive-system senses a loss in traction. Inside, the changes include a yellow start/stop button (instead of red) and a power display in place of the traditional tachometer. Mini's previous electrification efforts included the Mini E, which had a range under 100 miles and was available for leasing in 2009. Expect the plug-in hybrid to debut in 2019. Related Video: Featured Gallery Mini Plug-In Hybrid Related Gallery Mini Countryman Plug-in Hybrid Spy Shots View 13 Photos Green MINI Crossover Hybrid PHEV confirmed

BMW warns profits will fall, plans $13.6 billion in cost-cutting

FRANKFURT, Germany — BMW said Wednesday that profits in 2019 will be "well below" last year's, and it will cut 12 billion euros ($13.6 billion) in costs by the end of 2022 to offset spending on new technology. The company said profits would be eroded by higher raw materials prices, the costs of compliance with tougher emissions requirements and unfavorable shifts in currency exchange rates. The Munich-based automaker also faces increased uncertainty due to international trade conflicts that could lead to higher tariffs. "Depending on how conditions develop, our guidance may be subject to additional risks; in particular, the risk of a no-deal Brexit and ongoing developments in international trade policy," said Chief Financial Officer Nicolas Peter. The company forecast a profit margin of 6 to 8 percent for its automotive business, short of the long-term strategic target of 8 to 10 percent, which it said still "remains the ambition" for the company if given "a stable business environment." BMW said it had no plans for layoffs even as it outlined cost saving measures that include dropping half of its engine variants as it seeks to reduce product complexity. The BMW, Mini and Rolls-Royce brands are to get a single sales division. Peter said that given the headwinds to earnings, "we began to introduce countermeasures at an early stage and have taken a number of far-reaching decisions." The company said the measures were needed "to offset the ongoing high level of upfront expenditure required to embrace the mobility of the future." Automakers around the world have faced heavy up-front costs for technology expected to change how people get from one place to another in the next decade. Those include electric cars and renting cars through smartphone apps. Yet the returns from such investments remain uncertain and auto companies face competition from tech firms such as Uber and Waymo. BMW made 7.2 billion euros ($8.2 billion) in net profit last year, down 17 percent from 2017, when it booked a gain of $1 billion from U.S. tax changes. The company faced headwinds from increased tariffs on vehicles exported to China from the United States. It also suffered from turmoil on the German auto market when companies faced bottlenecks getting cars certified for new emissions rules. BMW faces uncertainty from U.S.-China trade tensions that could result in new tariffs if talks do not result in an agreement. U.S.

Mini Cooper Royal Wedding Edition: For the couple that literally has everything

As far as wedding presents go, it sure beats a hand mixer. Mini has created a one-off car to commemorate the wedding of Prince Harry and Meghan Markle. The car won't be brought in and parked next to the gift table, however. Instead, it'll be given to a charity chosen by the royal couple, which will then auction it. Mini's design team has personalized a Mini Cooper 2-Door with a hand-made roof graphic and a special interior, which features 3D-printed parts and special embroidery. The idea behind the hand-applied multi-layer roof graphic is that it's a combination of the Union Jack and the Stars & Stripes, representing the couple's nationalities. As an extra touch, the opened doors will project a "Just Married" sign onto the ground. Small detailing around the car is also bespoke, from the chrome finish to the side scuttles. Inside the Crystal White car is a Satellite Grey leather interior, with a trim strip announcing the first names of the bride and groom, as well as the wedding date. There are also accents in the door cards that match the roof graphic's colors. And just in case you're digging the stylistic vibe of the Royal Wedding Edition (not really the official name, but let's go with it), some of the custom work on the car can be replicated with the Mini Yours personalization program. That includes the option of 3D-printed parts. After the wedding on May 19 , the car will go to The Children's HIV Association, or CHIVA, who will auction it. Here's hoping it commands a good price. Related Video: Featured Gallery Mini Royal Wedding View 13 Photos Image Credit: MINI MINI royal wedding meghan markle