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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.

2020 Mini Convertible Sidewalk Edition hits the pavement again

In 2007, the Mini Convertible Sidewalk dropped its top in bitter winter during the Detroit Auto Show to show off its exclusive appearance package. The cosmetic suite makes a return for 2020, again as the Mini Convertible Sidewalk, with more color and design choices courtesy of Mini Yours. The primo choice comes in Deep Laguna metallic, a hue unavailable on other models, set off by patterned hood strips with contrasting edges. Buyers can spec five metallic colors from the traditional palette, too: White Silver, Moonwalk Grey, Thunder Grey, Enigmatic Black, and Midnight Black. For markets that make such perks optional, the Sidewalk Chili equipment package installs LED headlights and fog lights, automatic air conditioning, the interior lighting package, a height-adjustable front passenger seat, the storage package, and driving modes. Sidewalk logos on the side indicator bezels ease identification from afar, so too the 17 inch Scissor Spoke two-tone wheels. Upon closer inspection, the arrow graphics woven into the fabric soft top are another giveaway, as are the brushed aluminum sill plates bearing the word "Sidewalk." The interior's been wrapped in MINI Yours anthracite leather upholstery, stitched with Petrol and Energetic Yellow thread. Braided Petrol piping outlines the seat forms, dark Petrol contours the floor mats, while doors get Petrol and silver accents. A Sidewalk logo sits at the base of the leather-wrapped sports steering wheel. Three engine lineup comes in three gasoline flavors, a 1.5-liter three-cylinder with 102-horsepower in the Mini One, the same engine with 134 hp in the Mini Cooper, and a 192-hp, 2.0-liter four-cylinder for the Mini Cooper S. Mini says the standard transmission will be a six-speed manual; the row-your-own took a break for a spell but is due back in the U.S. next month. The seven-speed Steptronic dual-clutch is optional on the Mini Cooper and Cooper S, the DCT with paddle shifters an option on the Cooper S only. We aren't privy to price yet – that comes closer to launch in March. The Mini Convertible Sidewalk will be sold worldwide, but numbers might be limited; the UK, for instance, only gets 150 examples.

BMW, Sixt carsharing making money most places

The DriveNow carsharing service, which is a partnership between BMW and Sixt, is growing quite rapidly. "We've been surprised about the explosion of new subscriptions, which has helped boost revenue," says Sixt CEO Erich Sixt. The number of DriveNow users has increased from 215,000 at the end of last year to 300,000 today. Sixt says that DriveNow has been profitable in cities in which it has been established for over a year. Perhaps encouraged by its unexpected success, DriveNow is set to expand even further. The service is currently available in five German cities, as well as in San Francisco, California, and the involved parties are considering a five-year plan to expand to 25 more cities in Europe and the US. Still, Sixt expects DriveNow to report a "small-to-medium, single-digit" loss for this year, according to Sixt CFO Julian zu Putlitz. It's no big deal, just the result of startup costs in new areas. Sixt, which is Germany's largest car rental company, also reported that its own second-quarter income rose 12 percent to $37.7 million, while sales rose 7.6 percent to $585.78 million. DriveNow uses a membership and pay-per-minute model that allows customers to rent BMW and Mini vehicles as they need them. The service also acts as a way to let potential customers try out the vehicles and familiarize themselves with the brands before they buy cars of their own at some point. Depending on the location, DriveNow's fleet includes the BMW 1 Series, ActiveE and X1, as well as several Mini vehicles like the Cooper, Clubman and Countryman. Featured Gallery 2012 BMW ActiveE: First Drive View 31 Photos News Source: BloombergImage Credit: Copyright 2014 AOL Green BMW MINI car sharing profit revenue drivenow sixt