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Daimler CEO says nobody is making money on EVs right now

What do you charge for a vehicle you're going to lose money on? If you're Mercedes-Benz and the vehicle in question is the B-Class Electric Drive, you offer it for lease for just 399 euros ($498) a month with a down payment of 8,473 euros ($10,582). If Daimler was going to price it honestly, it seems, the number would have to be a lot higher. "Nobody today is making a battery-powered vehicle that's economically viable." – Daimler CEO Dieter Zetsche That's according to Daimler CEO Dieter Zetsche, who spoke to reporters in Spain recently and said that, "You can reasonably say that nobody today is making a battery-powered vehicle that's economically viable in its own right. Manufacturers will not see a return within a reasonable time on the billions they're investing now." There are ways to make money in EVs, of course. Just ask Daimler, which recently sold its stake in Tesla for a cool $780 million. Zetsche has some EV-critical company in executives like Fiat Chrysler CEO Sergio Marchionne, who has said his company loses over $10,000 on each Fiat 500E it sells. Other automakers – e.g., Tesla, Nissan – are much more positive about their financial bet on EVs, but no one is opening all their books to the public to prove this. Tesla, which worked with Mercedes on the B-Class ED, will have an earnings call with investors later today, so perhaps we'll learn something new in a few hours. The B-Class ED lease deal is for 36 months, based on an MSRP of 39,151 euros ($48,895) in Europe, including the 19 percent VAT. You can read more in the press release below. Commercial release of Mercedes-Benz B-Class Electric Drive: Local emission-free driving from ˆ399/month Stuttgart, Nov 03, 2014 With its high-torque electric motor, the B-Class Electric Drive delivers lively and superior driving pleasure – with zero local emissions. The B-Class Electric Drive is now available to order, with deliveries set to start before the end of 2014. Prices start at ˆ39,151[1]. The B-Class Electric Drive can be leased through the Mercedes-Benz Bank from ˆ399 a month[2]. Further information on the full range of tailor-made leasing and financing offers as well as specific pricing examples are available at http://www.mercedes-benz-bank.de. Quiet and local emission-free driving is ensured by a 132 kW electric motor, which, as is typical of an electric drive, delivers its maximum torque of 340 Nm right from the start. The result is noticeably powerful acceleration from rest.

Mercedes recalls 2,600 S-Class models in two campaigns

If you're the owner of a 2015 S-Class, you may get a notice soon from your local Mercedes dealership to bring in your pride and joy. But only if you own one of the specific models being recalled in two separate campaigns. The larger of the two affects the Mercedes-Benz S550 4Matic, Mercedes-AMG S63 4Matic, and Mercedes-AMG S65 coupes – all from the 2015 model year and manufactured between January 27, 2014, and April 2, 2015. Those models could have had their front seat belts installed on the wrong side, so the driver's side belt may have been fitted to the front passenger seat, and vice versa. Since the seat belt mechanisms are designed for specific sides of the vehicle, they may not lock as required, and the child seat restraint on the passenger side might not work, either. As a result, Mercedes is recalling 2,580 such units in the United States to have those belts inspected and replaced as necessary. In parallel, the Silver Star automaker is also calling in four – that's right, just four – examples of the 2015 S550 Hybrid. In those few units, the fuel pump may not be able to restart the internal combustion engine when needed, and the vehicle could stall. You can read both of the recall notices from the NHTSA below. RECALL Subject : Incorrect Seat Belt Position/FMVSS 208, 209 Report Receipt Date: OCT 14, 2015 NHTSA Campaign Number: 15V657000 Component(s): SEAT BELTS Potential Number of Units Affected: 2,580 Manufacturer: Mercedes-Benz USA, LLC. SUMMARY: Mercedes-Benz USA, LLC. (MBUSA) is recalling certain model year 2015 S550 4Matic Coupe, AMG S63 4Matic Coupe, and AMG S65 vehicles manufactured January 27, 2014, to April 2, 2015. In the affected vehicles, left-side front seat belts may have been installed on the right-side and vice versa. As a result, the installation angle may be incorrect, affecting the seat belt locking behavior. Additionally, the child seat restraint function for the passenger seat would not be available. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 208, "Occupant Crash Protection," and FMVSS number 209, "Seat Belt Assemblies." CONSEQUENCE: If the seat belt is installed improperly, it may not properly restrain the seat occupant in the event of a crash, increasing the risk of injury. REMEDY: MBUSA will notify owners, and dealers will inspect the installation of the seat belts, correcting them as necessary, free of charge.

More German automakers may be afoul of US emission standards

Volkswagen has plenty of smoke to share, and that may mean fire for other German automakers that make diesel vehicles, says Automotive News. Earlier this month, European Federation for Transport and Environment said that BMW, Daimler's Mercedes-Benz and General Motor's Opel division are among other automakers that may have equipped their vehicles' diesel engines with similar software as VW's. That software was found to reduce emissions while a car is being tested for emissions and shuts down emissions-control systems during normal use. The European environmental group used data from the International Council on Clean Transportation. Automotive News notes that the European environmental group put out its own report earlier this month, before the VW scandal broke loose, but the report was pretty much overlooked. Now, VW is under fire after it was discovered that 2.0-liter diesel engines in the VW Jetta and Golf, and Audi A3, may be programmed to game the emissions system. VW sold almost a half-million diesel vehicles in the US during the past six years. Both BMW and Mercedes-Benz told Automotive News that the issue that befell VW doesn't apply to their diesel vehicles. Earlier this week, Volkswagen admitted its car ran the sneaky software, while the US Environmental Protection Agency (EPA) has started a probe on the company. VW is setting aside more than $7 billion to pay for the alleged violations. Meanwhile, US taxpayers may have spent as much as $51 million a year to pay for subsidies related to VW's diesel vehicle sales in 2009 alone, according to the Los Angeles Times.