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BMW will invest $750 million to build Mini EVs in the UK

LONDON — BMW said on Monday it will invest 600 million pounds ($750 million) in its UK plants to take its Mini brand all-electric by 2030, giving a fresh boost to Britain's car industry after years of Brexit-related uncertainty. From 2026, the German premium carmaker will make two electric models at its Mini plant in Oxford — the Mini Cooper 3-door and the compact crossover Mini Aceman. The plant will make only electric models as of 2030 and many of those cars will be exported to markets around the world, BMW production chief Milan Nedeljkovic said. Speaking to journalists in Oxford, Nedeljkovic said the company wants to use batteries made in Europe in the new models made in Oxford, but did not specify whether they would come from the UK, saying it depending on the attractiveness of the market for its suppliers. The same two models will also be made in China and exports of those cars will begin in 2024. Also speaking in Oxford, British business minister Kemi Badenoch said: "We want auto manufacturing not just to stay in the UK, but to be the best in the world, and this is part of that story". Badenoch declined to comment on the level of subsidy to be received by BMW for Mini production, reported by British media to be 75 million pounds. BMW will also invest in its plant in Swindon which makes parts for Mini models. It was too soon to say what would happen to the engine plant in Hams Hall, near Birmingham, Nedeljkovic said. The small, fast and affordable original Mini went on sale in 1959 and has remained popular under BMW since it revived the brand in 2001, but its future in Britain has been uncertain for years, exacerbated by fears that Brexit would prompt the company to relocate production to Germany, China or elsewhere. Still, the industry remains on edge with both Britain and Europe's carmakers calling for a delay in the implementation of post-Brexit "rules of origin", under which 45% of the value of an EV being sold in the European Union must come from Britain or the EU from 2024 to avoid tariffs. "The [auto] industry is screaming at the EU," Badenoch said in Oxford, arguing that tariffs on EU and UK-made cars would only help Chinese manufacturers and that more time was needed to build local capacity. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

U.S. issues new tariff threat, this time against British-built cars

WASHINGTON — Britain is the United States' closest ally but their long friendship may be sorely tested as the two countries try to forge a new trade agreement after Britain's exit from the European Union. U.S. Treasury Secretary Steven Mnuchin said on Saturday in London that he was optimistic that a bilateral deal with Britain could be reached as soon as this year. But Mnuchin gave up no ground after a second meeting with his UK counterpart, Sajid Javid. Javid has insisted that Britain will proceed with a unilateral digital services tax, despite a U.S. threat to levy retaliatory tariffs on British-made autos. Mnuchin told reporters after Saturday's meeting that such taxes would discriminate against big U.S. tech companies like Alphabet Inc's Google, Apple, Facebook and Amazon. The UK Treasury declined to comment on the private meeting. The divide highlights the challenges ahead as the Trump administration seeks a new bilateral agreement with Britain, part of a broader push to rebalance relations with nearly all its major trading partners. The stakes are high — British Prime Minister Boris Johnson has pegged the trade deal with United States as a way to ease the pain of breaking with Europe, Britain's largest trade partner. U.S. President Donald Trump, has promised a "massive" trade deal to support Brexit, the product of a populist movement similar to his "America First" agenda. The goodwill and special relationship the two countries have enjoyed for decades may not count for much, experts say. "Trump is not going to be doing Johnson any favors," said Amanda Sloat, a senior fellow with the Brookings Institution in Washington. "He's not going to give him a trade deal without major concessions." Even before the digital tax issue arose, the Trump administration threatened to tax foreign car imports, which could hit British-made Jaguar, Land Rover, Mini, and Honda Civic hatchback cars. Stiff U.S. trade demands include increased access for U.S. farm goods, concessions that will be difficult for Britain's entrenched natural food culture to swallow. The United States also wants Britain to change the way its National Health Service prices drugs and allow in more U.S. pharmaceuticals, which could prove politically unpopular for Johnson's government. Washington's demand that London block Chinese telecoms equipment maker Huawei Technologies Co Ltd for national security reasons could also cloud talks.

David Brown's newest Mini Remastered is a tribute to James Bond's Lotus Esprit

England-based David Brown Automotive introduced a one-off version of its restomodded Mini Remastered built as a tribute to the Lotus Esprit Turbo driven by James Bond. It's a unique, unabashedly British creation that shares very few parts with the city car it started life as, and nothing but looks with the sports car that inspired it. Think of David Brown Automotive as the Singer of the classic Mini world. Its cars aren't cheap, especially when customers commission a one-of-a-kind build, but collectors get what they pay for. Its latest project resembles the Esprit Turbo that starred in the 1981 movie For Your Eyes Only thanks to a orange paint job with copper stripes above the rocker panels and gold-painted 13-inch alloy wheels shaped like the BBS units worn by the Lotus. The front end receives Cibie driving lights, while black paint on the wheel arches and the roof completes the look. The retro-flavored Hollywood inspiration is only skin-deep. Inside, the Mini gained white leather upholstery, walnut inserts on the dashboard, plus a 7.0-inch touchscreen compatible with Android Auto and Apple CarPlay. Thicker carpet, more sound-proofing material and a push-button ignition integrated into a redesigned center console also appear on the build sheet. The extra equipment inevitably adds a little bit of weight. The average Mini Remastered tips the scale at approximately 1,630 pounds, which represents a 200-pound increase over a stock 1275 GT model, but it's nonetheless about 700 pounds lighter than a fourth-generation Mazda MX-5 Miata. Don't pay much attention to the turbo stickers on both sides; they were added to create an additional visual link between the Mini and the Esprit that inspired it. Lifting the tiny hood reveals a 1,330cc evolution of the Mini's naturally-aspirated four-cylinder tuned to 83 horsepower. It spins the front wheels via a five-speed manual transmission. It's bigger than the engine that powered the standard Mini, whose displacement never exceeded 1,275cc, and it receives a generous 20-horsepower bump that accentuates the go kart-like feeling. David Brown Automotive published a photo of television personality Simon Cowell behind the wheel of the Lotus-inspired Mini, which seemingly confirms he's the lucky enthusiast who commissioned it.