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Major automakers urge Trump not to freeze fuel economy targets

WASHINGTON — Major automakers are telling the Trump administration they want to reach an agreement with California to avoid a legal battle over fuel efficiency standards, and they support continued increases in mileage standards through 2025. "We support standards that increase year over year that also are consistent with marketplace realities," Mitch Bainwol, chief executive of the Alliance of Automobile Manufacturers, a trade group representing major automakers, will tell a U.S. House of Representatives panel on Tuesday, according to written testimony released on Monday. The Trump administration is weighing how to revise fuel economy standards through at least the 2025 model year, and one option is to propose freezing the standards through 2026, effectively allowing automakers to delay investments in technology to cut greenhouse gas emissions from burning petroleum. The National Highway Traffic Safety Administration has not formally submitted its joint proposal with the Environmental Protection Agency to the White House Office of Management and Budget for review. Even so, last week, California and 16 other states sued to challenge the Trump administration's decision to revise U.S. vehicle rules. Auto industry executives have held meetings with the Trump administration for months and have urged the administration to try to reach a deal with California even as they support slowing the pace of reduction in carbon dioxide emissions that the Obama administration rules outlined. One automaker official said part of the message to President Donald Trump at a meeting on Friday will be to consider California like a foreign trade deal that needs to be renegotiated. Automakers want to urge him to get automakers a "better deal" — as opposed to potentially years of litigation between major states and federal regulators. On Friday, Trump is set to meet with the chief executives of General Motors, Ford, Fiat Chrysler and the top U.S. executives of at least five other major automakers, including Toyota, Volkswagen AG and Daimler AG, to talk about revisions to the vehicle rules. Senior EPA and Transportation Department officials will also attend. Environmental groups are eager to keep the rules in place, saying they will save consumers billions in fuel costs. A coalition of groups plans to stage a protest outside Ford's headquarters in Michigan.

Mercedes spent ˆ250 million to win Formula One titles last year

Success in Formula One requires skill, diligence, commitment and ingenuity. It also takes truckloads of money. In the case of Mercedes in last year's world championship, in which it took both the drivers' and constructors' titles in dominant style, those truckloads came to ˆ250 million last season alone – equivalent to over $285m in dead presidents. A report from Germany's own Auto Motor und Sport details the staggering investment that Mercedes made in order to get to the winner's circle last season. After 15 seasons with McLaren netting one constructors' and three drivers' titles, Mercedes motorsport chief Norbert Haug convinced the Daimler board late in 2009 to take over the Brawn GP team that had just won the championship. Because the team would be getting a large payout from Bernie Ecclestone as the returning champions the following year, and with sponsors lined up, Daimler only had to pony up a small portion of a smaller budget: in 2010 (its first season under the Mercedes banner), the team ran on a budget of "only" ˆ153 million ($175m). Over the course of the following seasons, though, the team's share of the TV revenues from Formula One Management went down as Mercedes struggled to climb back up the standings, but successive advocates (including Haug, Ross Brawn and Niki Lauda) successfully convinced the bean-counters in Stuttgart to ratchet up the payments. By 2012, the budget was expanded to ˆ200 million, and further climbed to ˆ250 million in 2013 and 2014. Fortunately for Daimler, the investment was starting to pay off by then as the team finished second in the constructors' standings in 2013, bringing ˆ74 million in from Ecclestone's coffers to cover roughly a third of the budget. With Malaysian oil giant Petronas alone kicking in upwards of another ˆ30 million per season as title sponsor (as of 2009 when it signed on), and untold millions more coming in from other partners, it looks like the actual cost to Daimler for securing both world titles and a winning reputation was actually more like hundred million or so.

McLaren Racing will return to Mercedes F1 engines from 2021

SOCHI, Russia — McLaren will be reunited with Mercedes engines from the 2021 season as the former champions go back to using the German manufacturer's power units in their bid to return to the top. The Woking-based team are currently supplied by Renault, having joined forces with the French company last year. They will see out that deal, which runs until the end of 2020, before making the switch back to Mercedes as part of a long-term agreement until at least 2024. "We are delighted to welcome McLaren back to the Mercedes-Benz racing family with this new power unit supply agreement," said Mercedes' motorsports head Toto Wolff in a joint statement with McLaren issued at the Russian Grand Prix on Saturday. "We hope that this new long-term agreement marks another milestone for McLaren as they aim to take the fight to the sport's top teams, including our Mercedes works team." The McLaren-Mercedes partnership initially ran from 1995 to the end of 2014. It turned McLaren, enduring a slump after their heady days of dominance during the late 1980s and early 90s with Honda, into a force to be reckoned with once again. The combination won 78 races, a constructors' title and three drivers' titles with Mika Hakkinen (1998, 1999) and Lewis Hamilton who raced to his first Formula One title with the team in 2008. McLaren find themselves in a similar phase now, rebuilding after three dismal years with Honda, the Japanese manufacturer they rejoined forces with at the end of 2014 in a bid to recreate their dominance from 30 years ago. Fielding a fresh driver line up of British rookie Lando Norris and Spaniard Carlos Sainz, they have made big strides this year and are currently locked in a battle for fourth in the overall standings with Renault's works team. But they haven't won a race since the season-ending 2012 Brazilian Grand Prix, when they were still powered by Mercedes. "Renault has been instrumental to our Formula One recovery plan and a fantastic partner to McLaren Racing," said Zak Brown, chief executive of McLaren Racing. "This agreement is an important step in our long-term plan to return to success in Formula One." McLaren's new deal with the German manufacturer, whose power units have set the benchmark in Formula One's turbo-hybrid era, coincides with a planned rules overhaul aimed at leveling the playing field and creating better racing. The shake-up could be just what a team like McLaren need to make that final jump up to the top.