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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.

Geely wants to be a tech-sharing 'friend' of Daimler in $9B bet

Chinese carmaker Geely has built up an almost 10-percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely's founder and main owner, means China's largest privately-owned automaker is now the biggest shareholder in Germany's Daimler. Geely said on Saturday there were no plans "for the time being" to raise the stake further. Instead, it will seek to forge an alliance with Daimler, which is developing electric and self-driving vehicles, to respond to the challenge from new competitors such as Tesla, Google and Uber. "No current car industry player is likely to win this battle against the invaders from outside without friends. To achieve and assert technological leadership, one has to adapt a new way of thinking in terms of sharing and combining strength. My investment in Daimler reflects this vision," Li said. "Daimler is pleased to announce that with Li Shufu it could win another long-term orientated shareholder, which is convinced by Daimler's innovation strength, strategy and future potential," the German company said in a statement. Geely officials plan to travel to Stuttgart to meet Daimler executives early next week and also hope to meet top German government officials in Berlin, two sources familiar with the matter told Reuters. The Chinese firm plans to use the meetings to underline that it intends to be a supportive long-term investor, they said. Daimler had no immediate comment on any meetings. Geely and the German economy ministry declined to comment. Chinese investors in German technology companies have tended to take a consensual approach, buying incremental stakes in companies such as robotics firms Kuka and Kion, typically after long consultation with management and other stakeholders. In November, Geely asked Daimler to issue new shares so it could buy a stake, as a way to access Mercedes-Benz technology for electric cars and trucks, including battery technology, to help Geely comply with a Chinese crackdown on pollution. But the German company turned down the offer saying it did not want to dilute existing shareholders, sources at the time told Reuters. Li changed tactics, and quietly amassed a stake of 9.69 percent worth $9 billion at Daimler's current share price.

Infiniti went out of its way to make the QX30 not a Mercedes

You can complain all you want about perceived badge engineering when a company (like Mercedes-Benz) sells a platform to another brand (such as Infiniti). The reality is that most buyers won't know the difference, and they won't even realize their Infiniti is really a Mercedes underneath or that their neighbor's GLA has the same basic parts as the QX30 they just bought. What's weird to me isn't that sameness, but the places where the two cute little utes differ. These two vehicles, which are more like tall hatchbacks, use the same Mercedes 2.0-liter turbo four and seven-speed dual-clutch transmission. Infiniti adds its own throttle and transmission calibrations. The suspension design is the same, although there are tuning differences. Both come standard with front-wheel drive, with all-wheel drive an option. Fuel economy matches for the FWD models, while the AWD Infiniti lags behind the Mercedes for some reason. So they're very similar despite their different looks. And design makes sense as a point of differentiation. Frankly, they go further than a lot of vehicles on shared platforms do – further, in fact, than the upcoming Nissan Navara-based Mercedes X-Class pickup does. The QX30 has its own sheetmetal and glass to separate it from the GLA-class. You probably think one looks better than the other. If you know where to look, the signs of sameness are obvious. Most major systems and pieces are shared, like the steering wheels (with different center covers), most switchgear, and things like interior and exterior door handles. Shared parts are fine as long as the parts are good ones. On that note, how many Tesla buyers realize their steering column and stalks, plus the window switches, come from Mercedes? And does that actually matter? We'd argue no. About those differences. Many are functional, like the fact the Infiniti does not carry over the Benz's Brake Hold feature – when you roll to a stop in the GLA (or any other Benz), pressing the brake pedal firmly applies the electric parking brake until you hit the gas to move again. The QX30 has an electric parking brake, but no Brake Hold feature. Someone used to driving Mercedes models will look a bit silly standing on the brake pedal to no effect. Ask us how we know. The Mercedes gauge package is carried over, but with the Infiniti font. Makes sense, although it's off-putting at first if you've seen the original, prompting a weird deja vu. Circular dash vents are replaced by rhomboid ones.