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4 automakers agree to $553M settlement of Takata airbag claims

WASHINGTON (Reuters) - Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million vehicles with potentially defective Takata airbag inflators, according to court documents filed on Thursday. Toyota's share of the settlement costs is $278.5 million, followed by BMW at $131 million, Mazda at $76 million and Subaru at $68 million. According to a press release from Plaintiffs' Committee for Takata Airbag Product Liability Litigation, the funds for the settlement are aimed at getting more cars with faulty airbags fixed. At the time of writing, Toyota had the greatest recall completion percentage of 31.89 percent followed by Subaru with 31.37 percent. Mazda has completed repairs on 18.16 percent of affected cars, and BMW brings up the rear with 16.48 percent completion. Some settlement funds will go to an outreach campaign to increase awareness, while other funds will be used to reimburse people for any costs accrued to get their cars fixed. These costs can include rental cars, child care, lost wages, or any other reasonable costs associated with bringing in a vehicle for repairs. Furthermore, a customer support program will be funded with settlement money to handle any additional repairs or adjustments that could become necessary in the 75,000 miles following the airbag replacement. Lawsuits against Honda, Ford and Nissan have not been settled, lawyers said. Takata inflators, which can explode with excessive force and unleash metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide. The safety defect has prompted recalls worldwide of about 100 million inflators by more than a dozen major automakers. Reporting by David Shepardson, additional details by Autoblog's Joel StocksdaleRelated Video: Government/Legal BMW Mazda Subaru Toyota

BMW i introduces home energy storage using i3 batteries

What happens when you take the battery out of a BMW i3 and put it into a grid-connected box? According to BMW, you get a home energy system that, "integrates seamlessly with charging stations and solar panels." It should also give i3 owners a bit more value out of their used cars, if BMW ever explains how they can sell their cars or the batteries back to the company for use in a system like this. Announced at the EVS29 event in Montreal today, BMW's stationary energy storage system solution uses i3 batteries to store excess electricity when available for use in power outages or when demand is high. While the system uses new 22- or 33-kWh i3 packs now, it "can be expanded to incorporate 2nd Life Batteries as they become available in the market." BMW says that the average US household used 15-30 kWh of electricity a day in 2014, so the BMW's packs would hold enough juice for a day or two, depending on the situation. Currently, BMW is testing out repurposing used Mini E batteries in a solar electric grid system at the BMW Group Technology Office in Mountain View, California. Related Video: Battery storage system electrified by BMW i announced at EVS29 in Montreal. The BMW i3 battery system – from the power source of the Ultimate Driving Machine – is integrated into an intelligent storage solution for residential and commercial applications. Montreal, Quebec June 21, 2016. ... BMW i, a leader in innovative electromobility since 2011, announced a stationary energy storage system solution integrating its BMW i3 vehicle battery at the Electric Vehicle Symposium & Exhibition 29, making it the first automotive manufacturer to utilize a complete automotive high-voltage battery for energy storage. The battery storage system electrified by BMW i, enables customers to more fully realize their commitment to sustainability – and to take the next step towards energy independence. With this system, which integrates seamlessly with charging stations and solar panels, customers can offset peak energy costs and also enjoy the added security of an available backup energy supply during power outages. The system utilizes BMW i3 high-voltage batteries and can be expanded to incorporate 2nd Life Batteries as they become available in the market. This strategy will extend the useful life of the battery for the owner, even beyond in-vehicle use.

BMW negotiates Daimler alliance, buys out car-service partner Sixt

Sixt sells its stake in DriveNow car-sharing to BMW BMW in talks with Daimler to combine car-sharing Combining car-sharing business to aid robotaxi plans FRANKFURT — Germany's BMW has bought out partner Sixt from their joint venture DriveNow, paving the way for a broader car-sharing and driverless taxi alliance with Daimler to compete against Uber and Lyft. Car rental company Sixt said on Monday it would generate an extraordinary pre-tax profit of about 200 million euros ($248 million) in 2018 from the sale of the DriveNow stake to BMW for 209 million euros. "With DriveNow as a wholly-owned subsidiary, we have all options for continued strategic development of our services," said Peter Schwarzenbauer, BMW's board member for Digital Business Innovation. "Our experience with mobility services supports our development of future autonomous, electrified and connected fleets," he said, adding that BMW aims to have 100 million customers for "premium mobility services" by 2025. The Sixt deal comes as BMW moves closer to a deal to combine its car-sharing services with Daimler's Car2Go, a person familiar with the discussions told Reuters last week. The German carmakers want to build a joint business that includes car sharing, ride-hailing, electric vehicle charging, and digital parking services, a senior executive at one of the companies said on Monday. Mercedes-Benz parent Daimler and BMW declined comment on the status of potential talks on their car-sharing business. "This is speculation, we do not comment," BMW said. The senior executive, who declined to be named because the plan is not public, said: "This will create an ecosystem which can also be used for managing robotaxi (driverless taxi) fleets." BMW would contribute its ParkNow and ChargeNow businesses to the common company, the executive said, adding that there were still differences of opinion over the valuation of Car2Go. The market for ride-hailing services currently makes up around 33 percent of the global taxi market, and could grow eightfold to $285 billion by 2030, once autonomous robotaxis are in operation, Goldman Sachs said in a recent research note. BMW and Daimler are now working on developing autonomous cars, vehicles which could enable them to up-end the market for taxi and ride-hailing services.