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German automakers' stocks fall as EU investigates collusion

BERLIN/FRANKFURT - Volkswagen will hold a special supervisory board meeting on Wednesday to discuss allegations that German carmakers operated a wide-ranging cartel, a source familiar with the matter said on Monday. The European Commission said on Saturday antitrust regulators were investigating a possible German auto industry cartel following a tipoff. At stake is whether carmakers VW, Audi, Porsche, Mercedes and BMW used German auto industry committees to discuss pricing of components and technologies, and whether such talks constituted anti-competitive behavior. A VW spokesman confirmed an extraordinary supervisory board meeting would be held on Wednesday but declined to give details. German auto stocks took a hit in early trading on Monday, weighed down by uncertainty over possible antitrust fines after European regulators said they were probing cartel allegations. VW shares were down 2.8 percent, with Daimler and BMW down 3.4 percent and 2.5 percent respectively, lagging the blue-chip DAX index, which was 0.7 percent lower. Exane BNP Paribas automotive analyst Stuart Pearson said little was known about the allegations, but no signs had emerged about fixing prices charged to consumers. "More ugly details could yet emerge, leaving German manufacturers - and the EU auto sector - still firmly in the sin bin for now," he added. The car industry has been hit with billion-euro fines on both sides of the Atlantic in recent years for cartels related to various parts such as lighting systems, engine coolers and bearings. The industry's record on exhaust emissions is also under close scrutiny after VW admitted in September 2015 to cheating U.S. diesel emissions tests and investigations have shown many vehicles exceeding pollution limits outside of testing labs. On Friday, German magazine Der Spiegel said VW, its Audi and Porsche brands, Mercedes-owner Daimler and BMW may have colluded to fix prices on components, including of diesel emissions treatment systems, using industry committees. Spiegel said the talks also led to the use of smaller tanks containing AdBlue, a urea-based liquid needed to help filter nitrogen oxides (NOx) from diesel emissions. Larger tanks would have been more expensive, the magazine said. Auto industry experts, however, have said the effectiveness of exhaust filtering systems does not depend on the size of an AdBlue Tank. BMW, for example, has equipped its cars with urea injection as well as a NOx-storage catalytic converter.

BMW i8 to go full-electric after facelift

According to Autocar, BMW has plans to turn the i8 sports car from a hybrid to a fully electric vehicle. The carbon fiber structure would be modified with a wider center tunnel to house a sizable battery. Despite this, there would be no weight gain to the i8; the current version weighs in at 3,274 lbs. The electric prototype would have three BMW-developed brushless electric motors, two of them powering the rear wheels and one of them taking care of the front wheels. As the 1.5-liter gasoline engine would be shelved, there would be ample space for the two rear-mounted motors. Currently, the i8 produces 357 horsepower all told, but the electric motors in the prototype are said to produce up to 268 horsepower – each. The electric prototype is to be based on the architecture of a hydrogen prototype, which manages 242 horsepower in total. The information relayed on to Autocar comes from a source close to BMW's development boss, Klaus Frohlich. The facelifted version of the i8 should arrive next year, with awaited improvements like a new 26Ah lithium ion battery – 6Ah up from the current version. There is also talk of a Qualcomm inductive charging system, and its 7.2kWh operating power is doubled from the current 3.6kWh plug-in setup. If the rumormill is to be believed, engine output in the facelifted version would be up ten percent, resulting in 390 horsepower. Related Video: News Source: Autocar Green Rumormill BMW Electric Hybrid Hydrogen Cars

BMW i wants to build the ultimate self-driving machine

Just a few years into its short life, BMW's i sub-brand is changing its mission from the pursuit of the electric cars to building the ultimate self-driving machine. That's according to Klaus Froehlich, shown above, a BMW board member and the head of research and design. "[BMW i] is now in ramp-up stage," Froehlich told Reuters. "We call it Project i Next." Project i Next won't abandon the electric car model – but instead, its next EV will feature the next-generation of self-driving technology. This is not the first time we've heard of BMW's autonomous aspirations, but it's the first time we've heard of a new name or designation for the brand. According to Reuters, BMW won't sell its next i-badged EV until 2021 – whether that's the oft-rumored i5 or another vehicle all together remains to be seen. Whatever BMW calls it, driverless tech will be a priority. Froelich added that such a vehicle could allow the company to fire up its own ride-hailing service to challenge Uber and Lyft, and their automotive allies, Toyota and General Motors. BMW is still working on its partnership strategy in that realm, Froelich told Reuters, but the company isn't sitting still – it made a small investment in ride-sharing app Scoop late last month. A raft of electric car competitors – Tesla, obviously, but also Porsche and Audi – and the struggling i3 are forcing BMW i's hand. It only sold 11,000 i3s here in the US last year, and with just 2,272 sold over five months, it's on pace to do less than half that volume in 2016. A Chinese electric startup has also plundered the brand's leadership ranks, Reuters said. Bloomberg claims this startup is Future Mobility Co., which is backed by Foxconn (among others). Just five months into 2016, i has lost the head of its powertrain group, Dirk Abendroth, its VP of product management, Henrik Wenders, and the head of the i8 program, Carsten Breitfeld. Considering these woes, changing gears might be i's best option for long-term viability. Related Video: News Source: ReutersImage Credit: John Locher / AP Green BMW Technology Emerging Technologies Autonomous Vehicles Electric bmw i driverless car klaus froehlich