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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.

2015 Mercedes-Benz Sprinter 4x4 First Drive [w/videos]

On the flight out to Kelowna, British Columbia, Canada, I thought I had a pretty good idea of what to expect on the Mercedes-Benz Sprinter 4x4 launch. I figured I'd drive down gravel and dirt roads, and then I'd take a Sprinter on a brief, pre-planned, crawling off-road course with Mercedes guides helping me along, Perrier water and fresh pastries at every third checkpoint. I've done off-road drives before, and while they do a perfectly nice job of showing the capability of a vehicle and its four-wheel-drive system, they're usually somewhat predictable and, I guess, safe. I also knew I'd be going to the middle of nowhere, but I assumed that'd just be a small town nestled in the Canadian Rocky Mountains. You know, a city anchored by its ski resort, but with all the amenities of a fully functional community. Something like Revelstoke, BC, where I spent my first night on the trip – kind of out in the wilderness, but a place where my iPhone could still pick up a solid 4G signal. But 24 hours later I found myself in a truly remote, off-the-grid part of the world, faced with a route that was anything but pre-arranged. And I wasn't in a G-Wagen, or some other off-roader – I was going to do all of this in a Sprinter van. Of course, this wouldn't be the first time Autoblog has taken a Sprinter far, far off the beaten path, and isn't the first time we've driven this generation of Mercedes' van. Home base was the CMH Monashee Lodge in Mica Creek, BC – a location so out-there that, according to Wikipedia, it "is no longer incorporated as a village." I had lost cell signal some 50 miles back, and the lodge was the only thing around, with its small staff, my fellow journalists and the Mercedes handlers the only human beings inhabiting the area. (Wait, haven't I heard this one before?) The drive from Revelstoke to Mica Creek was easy – 56 miles, all on Canada Highway 23 that runs alongside the Columbia River. It was breathtaking, with mountain forests still covered in snow from the winter, and the (mostly) thawed river flowing peacefully to my left as I drove north. There were no telephone poles, no stoplights and no traffic save the occasional logging truck. The road signs didn't point to exits toward other towns, but instead warned of possible run-ins with moose or bears, and let me know not to stop on specific parts of the highway unless I wanted to experience an avalanche up close.

Hamilton wins in Singapore as Vettel crashes out from pole

SINGAPORE (Reuters) - Lewis Hamilton took a huge stride toward his fourth Formula One title on Sunday by winning an incident-packed Singapore Grand Prix after Ferrari title rival Sebastian Vettel crashed out at the start. The Mercedes driver now has a 28-point cushion over the German with six of the 20 races remaining. Red Bull's Daniel Ricciardo, who also emerged from the opening lap carnage unscathed, was second for the third year in a row with Finland's Valtteri Bottas completing the podium for Mercedes. "God blessed me today for sure," said Hamilton, who set a lap record on his way to a third win in a row, as he spoke from the podium on a night where everything fell into his lap. "I came here today really thinking it was about damage limitation, and we've come out ahead. So I'm very grateful," he said later. "To come to a track that was potentially our weakest circuit, and come away with a win like this and those points, it's really such a fortunate scenario... so I definitely have a skip in my step." The Briton cashed in after Vettel, Ferrari team mate Kimi Raikkonen and Red Bull's front row contender Max Verstappen smashed into each other as they raced off the wet starting grid and into the first corner. Raikkonen had made a storming start from fourth, Vettel a less impressive one from pole position while Verstappen went for the middle ground and was caught in a Ferrari sandwich as they converged. The stewards summoned all three and decided no driver was predominantly to blame. BITTER BLOW The first race to be hit by rain in the decade that Singapore has hosted Formula One had started in treacherous conditions, puddles gleaming in the floodlights, after a formation lap behind the safety car. With Hamilton starting fifth, everything looked set for Vettel to retake the overall lead that he had surrendered only two weeks earlier at Monza in Italy. And then it all went wrong, the collision with Raikkonen punching a hole in the side of Vettel's car before he spun into the wall at turn three. "It's bitter but it's done," said the German, a four times Singapore GP winner, whose retirement ended a run of 18 successive points finishes and left him with a mountain to climb. "Championship-wise it's a big step forward," recognized Mercedes team boss Toto Wolff. "The quickest car and the quickest driver were out within a minute into the race and that can happen all the time.