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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.

An assortment of emblematic supercars is headed to auction

Auction house RM Sotheby's is giving enthusiasts the chance to bid on the supercars that they had posters of when they were kids. It's organizing a live sale in Miami, Florida, in December 2022 that's limited to 60 high-end models built between the 1970s and the 2010s. The oldest car in the catalog is a V12-powered 1974 Jaguar E-Type, though keep in mind that only 20 of the 60 available slots have been filled so far. At the other end of the spectrum, the newest model is currently a 2014 BMW M5. If your automotive tastes are firmly anchored in the 1980s, there's a wide selection of cars to choose from such as a 1989 Lamborghini Countach 25th Anniversary Edition and a 1987 Porsche 911 Turbo with a flat-nose conversion. If your heart belongs in the 1990s, RM's sale includes a 1990 Lamborghini LM 002, a 1995 Ferrari 512 M, and a 1996 Porsche 911 Turbo. Bentley models and a 2008 Mercedes-Benz SLR are among the newer classics. Carmakers weren't alone in pursuing speed, style, and extravagance in the 1980s; tuners fought hard for a piece of the pie as well, and RM's sale reflects that. Collectors will get the rare opportunity to bid on a number of pre-merger AMG models like a 1982 Mercedes-Benz 500SL 5.0 (R107), a 1987 Mercedes-Benz 560SEC 6.0 (C126) with a wide-body kit, and a 1989 Mercedes-Benz 560SEL 6.0 (W126). BMW-based Alpina models are well represented, too: RM accepted a pair of 6 Series-based 1987 B7 coupes and a 3 Series-based B6 2.8.  There are several slots left so it's not too late to submit your car. If you're a buyer, plan on being in Miami on December 9 and 10, 2022. We suggest clearing up space in your garage first: every car is offered with no reserve, so the selling price will be the highest bid. Related Video This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery RM Sotheby's supercar sale in Miami View 44 Photos Ferrari Jaguar Mercedes-Benz Porsche Auctions Luxury Supercars Classics

Aston Martin signs Letter of Intent for technical partnership with AMG

A little over two months ago came reports that Daimler and Aston Martin were in talks, again, about "supply and technical-cooperation agreements." The next step has been taken with Aston Martin announcing that it has signed a Letter of Intent that looks "towards a technical partnership" with Mercedes-AMG GmbH, and the two companies aiming to have definitive agreements done by year's end.
While it will get to use certain electric and electronic components from AMG, the true golden egg for the maker of the Vanquish will be the ability to develop a new line of "bespoke V8 powertrains" that will be fitted to "a new generation of models." In return for opening up the larder, Daimler will get a non-voting stake of up to five percent of Aston Martin.
Nothing else is being said about the tie-up for the moment, but there's a press release below with a few more details.