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BMW's Quandt family in hot water over Merkel campaign contributions

The mysterious and elusive Quandt family is in hot water again, nearly two years after its Nazi connections during World War II were exposed. The German family's patriarch, Herbert Quandt, nearly single-handedly saved BMW from being bought out by Daimler-Benz in 1959. Now, three living family members own nearly half of the German brand, and stand accused of buying votes with donations to the party of German Chancellor Angela Merkel, mere days ahead of a European Union vote that would cap vehicle emissions.
Merkel's conservative Christian Democratic Union accepted three donations, one from each shareholding member of the Quandt family.
Merkel's conservative Christian Democratic Union accepted three donations, one from each shareholding member of the Quandt family, totaling 690,000 euros ($935,000), on October 9. The CDU, for what it's worth, claim the donations weren't related to any political decisions and that the family have been donors for years. A Quandt family spokesperson, meanwhile, said that the family had been waiting for Germany's September 22 elections to pass before making a large contribution to the CDU.

Refreshed 2016 BMW 3 Series adds two new models to the range

The BMW 3 Series had years standing at the forefront of the luxury sedan segment, but competitors have continued to get better at challenging its long reign. To make sure the stalwart model can keep up, BMW is bringing some new powertrains and other upgrades to the range with a refresh for the 2016 model year. Plus, the exterior sees a very slight styling update. There are two big additions in the 3 Series range for 2016. First, there's the new 340i with the B58 turbocharged, inline-six engine to replace the 335i. Displacement is still 3.0-liters, but the latest mill makes 320 horsepower and 330 pound-feet of torque – gains of 20 hp and 30 lb-ft over the outgoing model. BMW estimates the 340i can reach 60 in 4.8 seconds with the standard eight-speed automatic or in 4.6 seconds with xDrive. A six-speed manual is also available as a no-cost option. The other new member of the family is the 330e plug-in hybrid, and it joins the lineup later in the year. BMW isn't specifically talking about the PHEV's powertrain, but the company estimates total output of 250 hp and 310 lb-ft. The sprint to 60 is forecasted at 6.1 seconds, and the range on electric power is predicted at 22 miles. Fuel economy isn't disclosed yet. Beyond these two models, there are a host of other upgrades under the skin for the 3 Series. The eight-speed automatic should be slightly more efficient thanks to wider gear ratio, and the handling is reworked with new front struts, rear dampers, and retuned electric power steering. There's also a Track Handling Package for gas-fueled models that combines Variable Sport Steering, Adaptive M Suspension and M Sport Brakes with high-temperature pads. The nav system accepts over-the-air map updates now, as well. You certainly can't see all of the changes on the outside, though. For the 2016 3 Series, BMW's designers tweak the front fascia slightly and update the headlights. LED units are optional on the 320i, 328i, and 328d, and they're standard on the 340i. The rear features reshaped LED taillights, and inside there's additional ambient lighting and chrome trim. In one other small adjustment, the look of the Sport Line package with black trim on the grille, B-pillars and rear bumper is now included on the 328i, 328d and 340i. Related Video: The New BMW 3 Series Sedan and Sports Wagon: Lifecycle freshening for all 3 Series Sedans and Sports Wagons. New 340i Sedan features new 320 hp TwinPower Turbo Inline 6-cylinder.

VW, Rivian, Nissan, BMW, Genesis, Audi and Volvo lose EV tax credits starting tomorrow

The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. The Treasury said the new requirements effective Tuesday will also cut by half credits for the Tesla Model 3 Standard Range Rear Wheel Drive to $3,750 but other Tesla models will retain the full $7,500 credit. Vehicles losing credits Tuesday are the BMW 330e, BMW X5 xDrive45e, Genesis Electrified GV70, Nissan Leaf , Rivian R1S and R1T, Volkswagen ID.4 as well as the plug-in hybrid electric Audi Q5 TFSI e Quattro and plug-in hybrid (PHEV) electric Volvo S60. The Swedish carmaker is 82%-owned by China’s Zhejiang Geely Holding Group. The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and are part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs or PHEVs. Hyundai said in a statement it was committed to its long-range EV plans and that it "will utilize key provisions in the Inflation Reduction Act to accelerate the transition to electrification." Rivian declined to comment and the other automakers could not immediately be reached for comment. Treasury also disclosed General Motors electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury said all GM EVs will qualify. Earlier, Ford Motor and Chrysler-parent Stellantis said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury confirmed the automakers' calculations. The rules were announced last month and mandated by Congress in August as part of the $430 billion Inflation Reduction Act (IRA). The IRA requires 50% of the value of battery components be produced or assembled in North America to qualify for $3,750, and 40% of the value of critical minerals sourced from the United States or a free trade partner for a $3,750 credit. The law required vehicles to be assembled in North America to qualify for any tax credits, which in August eliminated nearly 70% of eligible models and on Jan. 1 new price caps and limits on buyers income took effect.