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Daimler, Toyota, BMW to lead $10-billion hydrogen investment

Daimler, BMW, and Toyota are leading a group of 13 companies pledging to invest more than $10 billion during the next five years to spur enough infrastructure-building and technology advancements to get more of the general public to buy hydrogen fuel-cell vehicles. The automakers, which also include Honda and Hyundai, as well as companies such as Shell, AirLiquide, Linde Group, and Total SA, are part of what they're calling the Hydrogen Council. The group made its announcement in Davos, Switzerland, on Tuesday. The Hydrogen Council will pledge to accelerate its rate of hydrogen-related investments, which currently stand at about $1.5 billion annually. The coalition says its work represents a continuation of the 2015 Paris Agreement, in which many of the companies agreed to address the issue of climate change. The group says that hydrogen, which emits water vapor when used in fuel-cell vehicles, "can play an important role in the transition to a clean, low-carbon, energy system." The Hydrogen Council also vowed to push global governments to accelerate public investment in hydrogen-related infrastructure. Relative to other drivetrain technologies, hydrogen fuel-cell vehicles are in their relative infancy in terms of adoption because of the high cost of both building fuel cell vehicles and setting up a hydrogen-refueling infrastructure. Toyota is the only automaker that sells a production fuel-cell vehicle in the US. The Japanese company, which introduced its Mirai domestically in late 2015, sold 1,034 of them in the US last year. Daimler subsidiary, Mercedes-Benz, used Tuesday's announcement to remind people that it would start selling its GLC plug-in hydrogen fuel-cell crossover this year. There are only 33 publicly accessible hydrogen refueling stations in the US, including 30 in California, and one each in Connecticut, Massachusetts, and South Carolina, according to the US Department of Energy. By comparison, there are more than 15,000 electric-vehicle charging stations with almost 40,000 outlets in the US. Related Video: Featured Gallery 2017 Mercedes-AMG GLC43 News Source: Daimler/Hydrogen Council via Bloomberg, Automotive News-sub.req. Green BMW Honda Hyundai Mercedes-Benz Toyota Hydrogen Cars infrastructure mercedes f-cell

Cars with the worst resale value in 2022

Car values are all over the map right now. Used vehicles that were worth a small fortune earlier this year are now coming back to Earth, but the new vehicle supply remains tight. Prices are still elevated overall, but some models have seen more severe price drops. Depreciation strikes almost every model, supply constraint or not, though a few vehicles are leading the way. New research from analytics iSeeCars found that a handful of cars depreciated more than 50 percent over five years, with the BMW 7 Series dropping 56.9 percent and an average price cut of $61,923 over that time. The vehicles with the highest depreciation — or worst resale value — over five years: BMW 7 Series: -56.9% Maserati Ghibli: -56.3% Jaguar XF: -54% Infiniti QX80: -52.6% Cadillac Escalade ESV: 52.3% Mercedes-Benz S-Class: 51.9% Lincoln Navigator: -51.9% Audi A6: -51.5% Volvo S90: -51.4% Ford Expedition: -50.7% iSeeCarsÂ’ research showed that midsize trucks, sports cars, and fuel-efficient vehicles were slowest to depreciate over five years, while itÂ’s clear that luxury brands tend to lose value much faster. As iSeeCarsÂ’ Executive Analyst Karl Brauer explained, used buyers donÂ’t value high-end vehiclesÂ’ features as much as the first owners, so resale values tend to be softer. The tech and options that made the cars so expensive and appealing new donÂ’t add the same value on the used market. Read more: Cars with the best resale value Interestingly, electric vehicles also depreciated quite heavily, though they were just short of the abysmal numbers in luxury segments. The Nissan Leaf depreciated most among EVs, dropping by 49.1 percent. The average EV depreciation is 44.2 percent, with the Tesla Model S and Model X sliding in right under the bar at 43.7 and 38.8 percent, respectively. As iSeeCars notes, itÂ’s important to be vigilant when car shopping and not let your emotions win over reason. Shiny new luxury cars look great in the showroom, but you could end up taking a bath when you try selling them a few years later on. Related video: Audi BMW Cadillac Ford Infiniti Jaguar Lincoln Maserati Mercedes-Benz Volvo Car Buying Used Car Buying Ownership Resale Value depreciation

Valtteri Bottas on pole for Formula One's 1,000th race

Valtteri Bottas will start Formula One's 1,000th world championship race from pole position after leading Mercedes team mate Lewis Hamilton in a front row lockout at the Chinese Grand Prix on Saturday. Ferrari's Sebastian Vettel qualified third, ahead of 21-year-old Monegasque team mate Charles Leclerc who was unable to repeat his Bahrain Grand Prix pole of two weeks ago. Bottas, who won the season opener in Australia and leads defending champion Hamilton by one point in the standings, was the third different driver to take pole this season in three races. "The lap was OK, not completely how I wanted. Luckily it was good enough for pole," smiled the Finn, who pipped Hamilton by 0.023 seconds after setting a best time of one minute 31.547. "Lewis also managed to improve a lot during the qualifying and it was super-close." The pole was a first for Bottas since Russia last September and the seventh of his career. It was also his first in China where Mercedes have won five of the last seven races. Hamilton sounded happy just to be on the front row, despite six previous poles in Shanghai, after looking out of sorts in practice. "I didn't give up, I kept pushing right to the end. Big congratulations to Valtteri, he's been stellar all weekend and I've been struggling and fighting the car," said the Briton. "To be as close as we are at the end is fantastic. An incredible result for the team. There was a little bit more time left on the table there but that's cool, I'll try and get it tomorrow," added Hamilton. UNHAPPY VERSTAPPEN Ferrari had arrived in China as favorites after showing their speed in Bahrain, particularly on the straights, with Leclerc on pole and leading until a loss of engine power in the closing laps. While unable to match the quick-cornering Mercedes cars for overall pace in Shanghai, Vettel hoped to be closer on Sunday thanks to the track's main straight being more than a kilometer long. "I think there was maybe a little bit more but overall not enough to beat these guys today," said the 31-year-old German, a four times world champion. "If we get close we could have an advantage in a straight line." The top 10 positions went two-by-two in team order, with Red Bull's Max Verstappen and Pierre Gasly fifth and sixth and ahead of the Renault pair of Daniel Ricciardo and Nico Hulkenberg – the Australian just 0.004 ahead of the German.