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Automakers face reality of EVs' cost — to jobs, and their bottom line

Related: We obsessively covered the Frankfurt Motor Show — here's our complete coverage FRANKFURT, Germany — European car bosses gathering for the Frankfurt auto show are beginning to address the realities of mass vehicle electrification, and its consequences for jobs and profit, their minds focused by government pledges to outlaw the combustion engine. As the latest such announcement by China added momentum to a push for zero-emissions motoring, Daimler, Volkswagen and PSA Group gave details about their electric programs that could give policymakers some pause. Planned electric Mercedes models will initially be just half as profitable as conventional alternatives, Daimler warned — forcing the group to find savings by outsourcing more component manufacturing, which may in turn threaten German jobs. "In-house production is almost irrelevant to the consumer," Daimler boss Dieter Zetsche told reporters on the eve of the Frankfurt Motor Show, in the midst of a German election campaign in which automotive jobs have loomed large. The company set a target of saving 4 billion euros ($4.8 billion) by 2025 to help fund the cost of its electric cars. "Daimler is the first company to state explicitly how much electric vehicles are going to hurt margins," said Bernstein analyst Max Warburton. "It was brave to go first — but of course it won't be the last." Volkswagen, for its part, said it was seeking new global supplier contracts to source 50 billion euros ($60 billion) of electric car content including batteries, which are not yet manufactured competitively in Europe. "A company like Volkswagen must lead, not follow," Chief Executive Matthias Mueller told reporters. VW diesel emissions-cheating exposed by U.S. regulators in 2015 triggered global public outrage, dozens more investigations into test-rigging by the wider industry and a push by some lawmakers to ban diesel and eventually all engines. TIGHTENING NOOSE Tesla shares jumped nearly 6 percent on Monday after a Chinese minister said it was a question of when, not if, Beijing bans fossil-fuel cars, tightening the noose around the combustion engine. France and Britain have promised its outright abolition by 2040. But PSA, the maker of Peugeots and Citroens, said it was concerned about the risks if consumers were left behind in the rush, and a new generation of battery cars does not sell.

Daimler cutting Mercedes and Smart prices by 18% in Switzerland

Automakers including Daimler and PSA are now offering substantial discounts in Switzerland to make it more affordable for Swiss customers to buy their cars, according to the latest from Bloomberg. The move, instituted by two of Europe's largest automakers, comes in response to the surprise decision last week by the Swiss National Bank to suddenly abandon its longstanding policy of capping trading of the Swiss Franc to 1.20 francs per euro. The policy has sent the value of the franc soaring, making imports into Switzerland less expensive while increasing the value of its exports. The discounts being offered by the automakers could therefore be viewed more as price adjustments to better match the changing currency value rather than an actual incentive. But whichever way you look at it, a new Mercedes or Smart will now cost Swiss buyers 18 percent less than the list price, while Peugeot and Citroen dealers in the Confoederatio Helvetica are chopping 1,000 francs ($1,144) off the price of a new passenger car or 1,500 francs ($1,716) for a new commercial vehicle. Conversely, high-end Swiss watchmakers like Rolex and Patek Philippe are looking at increasing their prices to keep up with the currency fluctuation, particularly in Japan, where the yen has dropped 17 percent against the franc in the past few days. News Source: BloombergImage Credit: Sandro Campardo/Keystone/AP Mercedes-Benz smart Car Buying Citroen Peugeot switzerland

Recharge Wrap-Up: No new Smart Roadster, Africa to UK on one tank, Duke's efficient axial engine [w/videos]

Smart will not make another generation of the Roadster, but a Smart SUV might be in the cards. According to Smart's CEO, Annette Winkler, "The Roadster isn't a profitable business case. Everybody is keen on the car, but nobody wants to pay the bill." What Car? states that Smart is likely planning a baby SUV to take on the Nissan Juke and its ilk. But for the immediate future, Winkler says Smart "must focus on how we can maximize potential of the Fortwo and Forfour. That is strategy number one." Read more over at What Car?. A Mercedes-Benz E300 Bluetec Hybrid made the 1,223-mile trek from Africa to the UK on just one tank of fuel. Driven by Andrew Frankel of Autocar, the diesel hybrid left Tangier, Morocco with a full tank of gas (using the optional 80-liter fuel tank), and arrived in Goodwood with the car indicating 100 miles of range left. Frankel and his co-driver averaged 61.2 miles per gallon (73.6 mpg UK) on the intercontinental journey through four countries, despite elevation changes and a traffic jam. See the first video below for more information, or check out the article at Carscoops. Duke Engines promises simplicity and efficiency from the axial engine it's developing. Rather than lining up the cylinders, this engine arranges them in a circle, which allows Duke to avoid unnecessary weight. The five-cylinder, four-stroke motor manages the same amount of powerstrokes per revolution as a standard six-cylinder mill, but weighs 30 percent less. It also has much fewer parts, says Duke. Its high compression ratios mean more power with less fuel, which adds up to more efficiency and fewer emissions. The second of the two videos below, which we first found over at Sploid, explains Duke's axial engine. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Gallery Smart Roadster Patents Related Gallery Mercedes-Benz E400 Hybrid and E300 BlueTec Hybrid: Detroit 2012 Photos View 13 Photos News Source: Carscoops, What Car?, Sploid via World Car Fans Green Mercedes-Benz smart Fuel Efficiency Technology Emerging Technologies Diesel Vehicles Hybrid Videos recharge wrapup diesel hybrid smart roadster