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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.

Lewis Hamilton wins Russian Grand Prix in 1-2 victory for Mercedes

SOCHI, Russia — Lewis Hamilton coasted to a comfortable victory and led a Mercedes one-two finish at the Russian Grand Prix on Sunday to tighten his grip on a sixth World Championship. In a calamitous few laps for Ferrari, the Italian team threw away a possible one-two finish of its own after Sebastian Vettel broke down and Charles Leclerc dropped from first to third. Valtteri Bottas followed teammate Hamilton home at the Sochi Autodrome as Mercedes secured the full quota of points. Hamilton now leads Bottas in the championship by 73 points. Leclerc is 107 points behind the British driver. Max Verstappen finished fourth ahead of Red Bull teammate Alex Albon, who started last after he crashed out during qualifying. "What an effort, guys," said a jubilant Hamilton on the radio after the race. "What an incredible job. That is exactly what we needed. We never give up." Ferrari had already got themselves into a needless mess before Vettel retired with an engine failure on lap 28. Vettel got the jump on pole-sitter Leclerc on the long drag down to the second corner but a curious pre-race arrangement had Leclerc calling for the roles to be reversed. It appears that the team had agreed that if Vettel benefited from Leclerc's slipstream and moved ahead of the Frenchman off the start line, he would have to concede the position. Ferrari were on the radio to tell Vettel to let Leclerc by, but the four-time world champion resisted the order. Leclerc protested over the radio. "You put me behind and I respected everything," he said. "We will talk later." The Ferrari pit wall were on to Vettel again, but again the German refused to let his teammate pass, fearing that he would be exposed to Hamilton in third place if he slowed down. Leclerc was the first to stop on lap 22, but instead of calling in Vettel the next time around Vettel was left on old tires as his teammate put in several fast laps on his fresh tires. Four laps after Leclerc pitted, Vettel was eventually called in and by the time he emerged he had fallen behind his teammate and into second place. Just moments later disaster struck as Vettel broke down with an engine failure. It was then to get worse for the Scuderia. With Vettel's broken down machine in a precarious position, the virtual safety car was deployed to slow down the field, allowing Hamilton, who had yet to pit, a free stop for tires and the lead of the race. George Russell then crashed out in his Williams and the full safety car was deployed.

Some intriguing showstoppers from Auto China 2024

“Electric” may be the most appropriate word to describe the atmosphere at the recent Beijing motor show, now considered to be one of the worldÂ’s largest automobile exhibitions. ChinaÂ’s vision of the electric mobility future is on full display during the ten-day event, which ends this weekend. Organizers estimated that 117 new global and China-domestic models would debut in Beijing. In fact, about 30 foreign brands had stands, a turnout that hasnÂ’t been seen at auto shows since before the pandemic. The South Koreans and the Japanese came, and from Germany, representatives making the case for their brands included CEO Oliver Blume of Volkswagen Group, Oliver Zipse of BMW Group and Ola Kallenius of Mercedes-Benz Group. A few of the models would be powered by gasoline—by ICE, or internal combustion engines—but the vibe was clear: electrics are it. According to to show officials, Beijing hosted a total of 278 electric and plug-in hybrid models on display. After digesting most of the reveals unveiled during the show, weÂ’ve parsed a list to a select few of the more interesting models. Here it is, in no particular order: BYD Ocean-M concept BYD has launched off-roaders, SUVs and sedans in its global assault on the car market — and added a hot hatch concept at Auto China. The Ocean-M (above) is a Volkswagen Golf-sized five-door hatchback, meaning itÂ’s likely that BYD will pitch it as a rival for the Volkswagen ID.3 GTX. The show car has sporty design, rises sharply towards the rear window, and sharp surfacing at the front and along the flanks. The show car has a huge rear wing, aero diffuser and side blades.   Denza Z9GT BYDÂ’s luxury brand, Denza, a joint venture between BYD and Mercedes-Benz, showed the Z9 GT, a massive wagon carrying three electric motors putting out a stunning 952 horsepower. The EV weighs an extraordinary 6,338 pounds, almost 440 pounds more than a Rolls-Royce Cullinan. BYD's design boss is a German -- Wolfgang Egger, who previously worked for Alfa Romeo and Audi. Lamborghini Urus SE The Volkswagen subsidiary brought a bit of Italian sex appeal to Beijing in the form of “super” luxury SUV that received its first public premiere in China. The plug-in hybrid Uris SE SUV gets nearly 800 horsepower as well as a series of visual and technology updates inside and out.