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Automakers face reality of EVs' cost — to jobs, and their bottom line

Related: We obsessively covered the Frankfurt Motor Show — here's our complete coverage FRANKFURT, Germany — European car bosses gathering for the Frankfurt auto show are beginning to address the realities of mass vehicle electrification, and its consequences for jobs and profit, their minds focused by government pledges to outlaw the combustion engine. As the latest such announcement by China added momentum to a push for zero-emissions motoring, Daimler, Volkswagen and PSA Group gave details about their electric programs that could give policymakers some pause. Planned electric Mercedes models will initially be just half as profitable as conventional alternatives, Daimler warned — forcing the group to find savings by outsourcing more component manufacturing, which may in turn threaten German jobs. "In-house production is almost irrelevant to the consumer," Daimler boss Dieter Zetsche told reporters on the eve of the Frankfurt Motor Show, in the midst of a German election campaign in which automotive jobs have loomed large. The company set a target of saving 4 billion euros ($4.8 billion) by 2025 to help fund the cost of its electric cars. "Daimler is the first company to state explicitly how much electric vehicles are going to hurt margins," said Bernstein analyst Max Warburton. "It was brave to go first — but of course it won't be the last." Volkswagen, for its part, said it was seeking new global supplier contracts to source 50 billion euros ($60 billion) of electric car content including batteries, which are not yet manufactured competitively in Europe. "A company like Volkswagen must lead, not follow," Chief Executive Matthias Mueller told reporters. VW diesel emissions-cheating exposed by U.S. regulators in 2015 triggered global public outrage, dozens more investigations into test-rigging by the wider industry and a push by some lawmakers to ban diesel and eventually all engines. TIGHTENING NOOSE Tesla shares jumped nearly 6 percent on Monday after a Chinese minister said it was a question of when, not if, Beijing bans fossil-fuel cars, tightening the noose around the combustion engine. France and Britain have promised its outright abolition by 2040. But PSA, the maker of Peugeots and Citroens, said it was concerned about the risks if consumers were left behind in the rush, and a new generation of battery cars does not sell.

Mercedes-Benz C-Class named 2015 World Car of the Year

It's been a good morning for Mercedes-Benz, with three of the company's wares taking home awards today at the New York Auto Show. The 2015 World Car of the Year awards have just been announced, and the charming new C-Class sedan has taken top honors, beating both the new Volkswagen Passat and Ford Mustang. But Car of the Year isn't the only award Mercedes received this morning. Here are the other World Car announcements, where M-B was honored two more times. World Performance Car of the Year: Mercedes-AMG GT World Luxury Car of the Year: Mercedes-Benz S-Class Coupe World Green Car of the Year: BMW i8 World Car Design of the Year: Citroen C4 Cactus Congratulations, all around, to this fantastic group of cars.

Erebus Motorsport Mercedes E-Class V8 Supercar completes the field [w/videos]

Ford, Holden and Nissan introduced their V8 Supercar challengers a while back. Erebus Motorport, whose racing program got the green light not even 120 days ago, has finally shown off the Mercedes-Benz E-Class racer that will complete this year's field of entries. The first AMG race car ever to be built outside of Germany, it's an Australian-built tube-frame chassis specced to the series' Car of Tomorrow rules, fitted with body panels that channel the E63 AMG.
Supported by AMG Customer Motorsport, the 5.0-liter engine is provided by HWA in Germany, the racing arm of AMG. Regulations dictate that it have roughly 650 horsepower, a redline between 7,000 and 7,500 rpm and a torque curve that matches the parity baseline set for all cars.
Lee Holdsworth, Tim Slade and Maro Engel will drive the three team cars, each with different sponsors. Their first showing will be at the Clipsal 500 on March 3 in Adelaide, here in the US we'll get to see them in May at the Circuit of the Americas. Check out the videos below of the Erebus car starting up at its launch, and footage of all of this year's cars doing pre-season testing on track together.