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Recharge Wrap-up: EV charging at IKEA, Tesla Model M just rendering

Despite rumors, Tesla will not be producing a "Model M" electric motorcycle. After a rendering of a Tesla motorcycle concept by a designer named Jans Slapins began circulating online, some folks mistakenly thought it was something Tesla intends to build. Slapins, though, has no relationship with Tesla, nor has he claimed to. As cool as it could be, Tesla hasn't stated an interest in producing an electric two-wheeler, and, as Green Car Reports explains, Tesla's batteries don't lend themselves to the size and shape of a motorcycle the way, say, Zero's do. Read more at Green Car Reports. Piaggio and KTM are partnering to develop an affordable electric commuter vehicle. The EU is funding the project in the hopes that commuters would choose such a vehicle over polluting, traditionally powered vehicles for their daily drives. The initial plan is to create two four-wheeled tilting vehicles for demonstration purposes. The two manufacturers will also receive support from Bosch and several universities. Read more at Visor Down. Total has opened a hydrogen filling station in Munich, Germany with both standard compressed and BMW cryo-compressed hydrogen (CCH2) technology. CCH2 involves storing the fuel on board at low temperatures and just 350 bar pressure. It allows for up to 50 percent more storage than standard 700 bar systems (and, subsequently, a greater driving range). Having CCH2 hydrogen available at a public station allows BMW to further its fuel cell research and development with real-world testing. Read more at Green Car Congress. IKEA will install free EV charging stations at all of its Canadian stores. Each of the 12 stores will offer, initially, two 60-amp chargers available on a first-come-first-served basis. Sun Country Highway will install the chargers by the end of this summer (that's right, you don't have to assemble them yourself). IKEA sees itself as a prime location for EV charging as most of its stores are located near major highways. All of Canada's IKEA stores get their energy from renewable sources. "Electric vehicle charging stations are an important step on IKEA Canada's continuing journey towards sustainability," says IKEA's sustainability manager, Brendan Seale. Read more from Sun Country Highway. Related Gallery News Source: Green Car Reports, Visor Down, Green Car Congress, Sun Country Highway Green BMW Automakers Tesla Alternative Fuels Motorcycle Electric Hydrogen Cars recharge wrapup

BMW looking to save billions with cost cuts

BMW is planning a fairly extensive overhaul in a bid to recoup some its annual costs, with CEO Norbert Reithofer (pictured above) aiming to save three to four billion euro ($4 to $5.4 billion) per year to help keep the company's profit margins between eight and 10 percent, while also maintaining investments in production expansion and new tech. BMW's profit margins sat at 9.4 percent in 2013.
According to Automotive News Europe, Reithofer is none too pleased about costs at Mini and on the 1 Series, although neither AN nor its source story, from Germany's Manager Magazin, elaborate on what steps could be taken to improve losses on either project. That makes it hard to figure out just where the fat will be trimmed from.
What may happen, though, is that BMW attempts to trim 100 million euros ($135 million) from its German labor costs each year; a solution hinted at a few weeks ago by Germany newspaper Muenchner Merkur. While a dramatic cost reduction, 100 million euros still doesn't begin to even approach the savings envisioned by Reithofer.

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.