Tag Archives: Europe

Rare Rides: The 2000 Mercedes-Benz CL 500, a Finale Called Final Edition

October 27, 2021 admin

Large, luxurious, and very serious, the first generation CL was also an SEC and S during its life. While Mercedes-Benz played the Nineties naming games with its lineup, the W140 soldiered on in two-door format as a last-of for a top-tier Mercedes coupe.

The W140 500 SEC and 600 SEC were introduced in 1992 globally as successor to the C126 (that’s coupe) variant of the legendary W126 S-Class. We’ve covered C126 previously in both standard and cocaine-inspired AMG variants, but never a W126. Look for it in a future Rare Rides Icons.

Both versions of the W140 were penned by Bruno Sacco late in 1987, during the middle of his career at Mercedes. Sacco was lead designer at Benz between 1975 and 1999. With the W140, he brilliantly continued the pillarless hardtop styling of the C126. Two models of SEC were initially available: The 500 used a 5.0-liter V8 that produced 320 horsepower, while the top-drawer 600 SEC had a V12. The most expensive car Mercedes produced at the time, it used a 6.0-liter engine that produced 394 horsepower and rocketed the coupe to 60 in 6.1 seconds. The 600 SEC was incredibly exclusive, and fittingly asked $132,000 in 1992. Adjusted for inflation that figure comes to an eye-watering $262,000. V12 models were identifiable almost solely via their V12 badges on the C-pillar and the 600 on the back.

The range expanded into other models over the years, as a less expensive 4.2-liter V8 was an option in some markets. On the other end of the spectrum, AMG models used larger and more powerful V12 engines of 6.0, 6.9, and even 7.3 liters. That largest engine allowed the CL 73 AMG a top speed of 199 miles per hour and was the engine Pagani chose to power the Zonda of the 2000s. Standard Mercedes-issued coupes were all limited by German tradition to 155 mph. A considerable number of horses were required to motivate the CL, since in any trim it weighed at least 4,500 pounds, and weighed about 4,900 pounds with a 12-cylinder lump upfront. All cars used a four- or five-speed automatic dependent on model year.

In 1994 the SEC moniker that Mercedes used for decades was replaced by an S, as the S 500 Coupe and S 600 Coupe more closely identified with their sedan sibling. It was a temporary measure though, as for the model year 1997 in Europe and 1998 in North America the S was swapped for CL, and the CL-Class was born. Models were then CL 500, CL 600, and so on. The car underneath changed little over the years, as Mercedes used their best build quality, materials, and technology in their halo coupe.

The W140 coupe was offered through 1999 in Europe and 2000 in North America, at which point it was replaced by the W215 CL-Class. The second CL was based upon the new W220 S-Class sedan. The W215 was noteworthy, as it was Bruno Sacco’s final design for Mercedes. Both the W215 and its 2007 successor (C216) were more modern, full of even more technology, much more complicated, and as a consequence has aged more poorly over the years. Both second and third-gen CLs can be found commonly on high-quality internet content like “You Can Get All This $200,000 Mercedes Coupe For $15,000 You Guys Like and Subscribe,” but the W140 SEC and CL have escaped such an undignified fate. Their quality, non-bling appearance, and limited production (26,022 total) have kept them under the radar.

Shortly before the end of its production, Mercedes offered a final run trim on the W140 CL which they creatively called Final Edition. Said special edition seems to be an “all options as standard” version of the CL 500, and in this instance pairs a nice navy metallic paint to a black interior, with sporty AMG-adjacent monoblock wheels. A testament to its build quality, today’s CL has traveled over 164,000 miles and looks brand new. Located in Spain, the future classic asks $15,235.

[Images: Mercedes-Benz]

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2022 BMW 2 Series Coupes Coming Soon

May 28, 2021 admin

The 2022 BMW 2 Series coupes are on their way. Dynamic testing, drivetrain, and suspension tuning on the two-door compact are nearing conclusion. Production begins in the late summer of 2021.

The new BMW 2 Series is being described as more nimble, agile, and powerful than previous models.

Tuning and testing at Nurburgring’s Nordschleife and on public roads around Munich, the new 2’s drivability is key.

The 230i and M240i AWD will be the first out of the gate, with the 230i xDrive and M240i to follow.

The M240i xDrive has a 3.0 liter, inline 6-cylinder TwinPower turbo under hood, producing 382 horsepower. Backed up by a standard 8-speed sport Steptronic automatic, alas there’s no mention of a manual transmission option.

xDrive AWD systems have an M sport rear differential to add traction and stability while accelerating, according to BMW.

There’s a front lip spoiler, splitter, air curtains, deflectors, and underfloor covers for the fuel tank and rear differential. BMW attributes a 50-percent reduction in front-end lift to the aerodynamic package.

Twelve percent more torsionally rigid than its predecessor, BMW has also increased front and rear tracks to add rigidity.

New shocks enhance ride comfort, while better responding to road conditions. The optional Adaptive M suspension adds electronically-controlled shocks with settings that are more dynamic or comfort-oriented.

Improved road feel comes from new, stiffer front axle support bearings. Another option, variable sports steering, reduces steering effort while improving driving feel.

Meanwhile, the 2 Series is out there killing cones in pursuit of fine-tuning the suspension. We’ve not yet reached the point of cone conservation.

[Images: BMW]

Q&A: Green Car Pioneer Ron Cogan Offers Sage Insights

May 3, 2021 admin

Green Car Journal Publisher Ron Cogan at the 2020 Green Car Awards. He’s been covering the shift to environmentally friendly vehicles for three decades.

The automobile has transformed we live, work and play. Unfortunately, it’s also had a seriously detrimental impact on Planet Earth. And now, as it becomes more crucial to address issues like climate change, the automobile is in the crosshairs.

That’s a message many have come to just lately. Not Ron Cogan. The veteran automotive journalist was among the first to recognize the need to clean up the car, in 1992 launching Green Car Journal. Where some have focused exclusively on electrified vehicles, pure battery-electric models, in particular, Cogan and his magazine have looked at all the various green car technologies that have come — and, in many cases, gone — during the past three decades.

The latest issue of Green Car Journal focuses specifically on battery-electric vehicles. But, as is Cogan’s style, it takes a pragmatic, even somewhat skeptical, look at this potentially game-changing technology, recognizing there are still many challenges to be overcome before BEVs can clearly replace the time-tested internal combustion engine.

Cogan spoke to TheDetroitBureau.com about his years covering the green car world and what he sees coming in the years ahead.

Cogan’s enjoyed a front-row seat, watching and writing about the shift from ICE-powered vehicles to electrified models in the U.S.

TheDetroitBureau: These days, everyone is writing about electric vehicles but you’ve been at this for a long time, haven’t you? And don’t you take something of a broader look when it comes to environmentally friendly vehicles?

Ron Cogan: Green Car Journal, which launched in 1992, has been all about options, everything that’s happening in the green space, whether it’s methanol, ethanol and natural gas, even high fuel-efficiency gasoline. Now, there’s a huge push towards electrification. It wasn’t our call to tell people what to drive. With our 30^th birthday coming up we wanted to let people read different opinions from industry leaders.

TDB: We now have General Motors CEO Mary Barra setting a transition to all-electric vehicles and announcing a second battery plant. Is this the year of the tipping point for battery-electric vehicles?

Cogan: I would agree there’s a tipping point going on in the sense that there’s a major commitment by a lot of automakers. It’s gone beyond lip service. For the industry, the tipping point is here. The question is whether it is a consumer tipping point yet. Only so many people are willing to step up to pure electric vehicles. More see a hybrid as the way to go because it’s so seamless, and some to plug-in hybrids. But have we reached a tipping point for consumers? I’m not so sure.

Cogan notes that hybrids provide a level of convenience that pure EVs cannot.

TDB: Yet BEVs do seem to be gaining a lot of momentum.

Cogan: Well, the range issues is being overcome to a large degree, But even with 250 miles, on a long trip you have to plan ahead (to find places to charge), which is why I think plug-in hybrids are going to be pretty huge. When you can’t plug in you’re not limited, so I think that category is really going to expand. With a plug-in you can do everyday driving in electric but switch to internal combustion when you have to go farther. I think it’s a win-win. And it will get more people into buying electric vehicles.

TDB: I find that the best way to promote electric vehicles is to get people into electric vehicles. They’re often surprised by the performance, for one thing.

Cogan: Yeah, today’s electric vehicles are pretty amazing given what they offer — everything a combustion vehicle can offer and more. The launch in an electric vehicle can be pretty exciting and some companies, like Tesla, are keying in on that, talking about how they can beat a Ferrari on track and all that. I think that’s surprising a lot of people.

Cogan is quick to note that EVs are not the only way to improve the efficiency of vehicles. His publication’s honored several diesels.

TDB: I have more and more people asking if this is the right time to buy an electric vehicle. Many worry that, like with an iPhone, if they buy today something better will soon come out and they’ll regret it. What would you tell them?

Cogan: The technology, the range, all of that will improve over time, as will the cost which will continue to go down incrementally. So, it’s a tough question. If you find the right vehicle that appeals to you, it makes sense, go ahead and buy the vehicle. There are some great choices out there now and there are going to be more coming up. The jump to 250 miles (which most new BEVs are offering) is huge and there are going to be more and more charging stations coming online. True, the nature of it is that there’s always going to be something better. But do you never buy an electric vehicle because of that?

TDB: Doesn’t that make an argument for leasing, rather than buying? You can move to something newer and better in a few years — and not worry about trade-in values.

Cogan: I think leasing is the ideal way to go with electric vehicles. It means you don’t have to take as much of a risk. You know what your payments are. You know when you’re going to turn it in. And then, you can move on to the next generation of electric vehicles. Leasing takes the risk out.

Green Car Publisher Ron Cogan, Chevy Marketing Director Steve Mojoras and the 2016 Volt, which was honored by the Green Car Awards.

TDB: Let’s talk about batteries — in particular, next-generation batteries. Honda, Ford and others are all talking about solid-state batteries (which supposedly will be lighter, deliver longer range and shorter charging times and even reduce the risk of fire). Are they real? And will they live up to expectations?

Cogan: It seems that if solid-state comes close to all the promises it would put BEVs over the top, making all the difference in the world. Solid-state, from what we hear, is the ideal technology.

TDB: What would you estimate will be the BEV share of the market by 2030? And could it be even bigger than people are forecasting now?

Cogan: It’s tough to make a prediction, and I try to avoid that. But automakers and other interests are pushing for them and there’s a lot of interest in setting up a nationwide rapid charging network. All of that takes us in the direction where we know there’s going to be significantly more electric vehicles sold by then. But many things could influence the fate of gasoline vehicles. How’s the price of gas? If gas prices stay low there’ll be less incentive for electric vehicles. Technology will influence things. A recession could, as well. Legislation clearly will have an influence, especially if it’s a disincentive to drive on gasoline.

Honda has been at the forefront of fuel-cell vehicles with the Clarity.

TDB: On the subject of politics, the Biden administration wants to have 500,000 charging stations in place by 2030. Could that mean a faster growth rate for electric?

Cogan: If we get the range to drive on battery like you would on gasoline and you have a network of rapid chargers, suddenly, your functionality is increased exponentially. But there’s no way yet to know if the government is going to create (that public charging network). Administrations change. Agendas change. So, I don’t put stock into what you can count on as far as legislation matters.

TDB: But the Biden administration is clearly making a lot of proposals to promote electric vehicles. Do you like what you’re seeing?

Cogan: Yeah, as far as I can tell. I mean, we’re going to see how this all unfolds. This administration has a more proactive agenda for environmental issues in general and clean cars, specifically, than the previous administration. But I have to say you can’t always count on that. Back under the Obama administration, he wanted a million electric vehicles by 2015. It was never going to happen because there weren’t enough vehicles to make it happen. (But) I look at all of these things (Biden is proposing) as positive … a direction that seems to make sense for electrified vehicles.

Cogan drove a GM EV1 for a full year.

TDB: You started publishing Green Car Journal in 1992. Looking back on the last three decades, what were biggest surprises, the things you didn’t count on early on?

Cogan: One of the milestones was the debut of the GM Impact prototype and then the actual production of the GM EV1, I drove one of those for a year. It was an amazing car to be in on the evolution of electric vehicles. It was also interesting to note how hydrogen was big and then (see automakers) backpedaling, Now they’re interested in hydrogen again. It’s gaining momentum again.

One of the (other) things that surprises me is that we’re seeing such a push for electrification, at the extreme high end of both luxury vehicles and sports cars and exotics.

TDB: To wrap up, is the age of the internal combustion engine coming to an end?

Cogan: I don’t think you can discount internal combustion because it keeps getting better and better. And I don’t think you can discount hybrids and plug-in hybrids and focus just on battery-electric vehicles. Those are all a big part of the solution. It may have narrowed from when we started publishing. It’s no longer really about ethanol and natural gas and propane. It’s really about electrification and significantly more efficient internal combustion engines — and a combination of the two. It’s going to be even more exciting in the years ahead seeing how it will play out.

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SEC Investigating VW Due to the “Voltswagen” Stunt

April 30, 2021 admin

The “Voltswagen” April Fool’s Day prank has led to an investigation by the SEC.

What started out as a “humorous” advertising and marketing ploy could land German automaker Volkswagen in serious trouble with the federal government.

The Securities and Exchange Commission (SEC) is apparently looking into VW’s “Voltswagen” marketing stunt to determine if it hurt company stock prices and may have broken any U.S. securities laws, according to German news outlet Der Spiegel.

The incident in question dates back to March 29. As a sort of early April Fool’s Day prank (and marketing ploy), VW “accidentally” released a rough draft of a press release declaring the company was going to change its name to “Voltswagen” as part of a larger effort to promote its ever-growing line-up of electric vehicles (EVs).

This action was picked up by the worldwide automotive press and on March 30 VW issued an official press release to several news outlets, including the Associated Press, confirming the leaked statement from the day before.

This action resulted in VW’s stock price going up. At one point it was 12.5% above its price before the whole incident.

SEC looking at jump in stock price

VW of America President Scott Keogh took responsibility for the poorly received April Fools’ prank that wasn’t on April 1.

This is what caught the attention of the SEC, taking what many considered a fairly unfunny publicity ruse to a possible federal offense.

After the April Fool’s stunt failed in the eyes of the media and the public, VW issued a press statement saying the releases were actually part of a larger tradition in which companies often issue prank statements.

This one just meant to also focus the world’s attention on VW’s growing EV portfolio.

But public statements that affect stock prices usually don’t get an “April Fools” immunity. An SEC investigation could result in charges against the company.

Several news organizations, including The New York Times and Reuters, have asked for a comment from VW. So far, the company has declined to issue one.

Just one of many VW legal scandals

This is not the first time VW has gotten into trouble for the way it conducts its business.

Oh those wacky Germans!! As quickly as it got here, VW took it away: Voltswagen is the company that never was.

In October 2015, as Volkswagen struggled to deal with its diesel emissions scandal, new data raised questions about whether the automaker properly reported death and injury claims to U.S. regulators during the past decade.

A study by the financial advisory firm Stout Risius Ross Inc., found that Volkswagen of America reported nine times fewer deaths and injuries than the average of the 11 largest automakers operating in the U.S. market. Significantly, VW reported less than half as many incidents as either Fiat Chrysler or Honda, both of which have been fined for underreporting their own death and injury data.

Back in September 2015, the EPA accused the German maker of using a so-called “defeat devices,” software designed to fool government emissions tests, on a variety of luxury models from the Audi and Porsche brands. The feds charged VW took steps to cover up excess emissions on 482,000 vehicles sold in the U.S. during a 7-year period.

The end result was VW paying billions of dollars in fines to various governments around the world. The company also faced numerous consumer lawsuits that further cost the company money.

Volts, er, Volkswagen’s April Fool’s Day Prank a Jolt to the System

March 31, 2021 admin

Oh those wacky Germans!! As quickly as it got here, VW took it away: Voltswagen is the company that never was.

A lesson for wannabe pranksters: if you’re planning an April Fool’s Day joke, stick to April 1st.

That lesson apparently got lost in translation over at Voltswagen, er, Volkswagen headquarters when the company intentionally leaked an “internal document” on March 29 indicating it was planning to change its name as a way to highlight a dramatic, mega-billion-dollar shift to battery-electric vehicles.

Like so many others, automotive PR departments have often found ways to tweak the media on April 1 and the closer a supposed story hews to reality the better the joke — though news veterans have learned to tread cautiously with everything they see that day. VW’s gag, it seems, gained credibility because of the timing, even though it would have generated major skepticism had it come out two days later.

But “There will be no renaming of Volkswagen of America,” the company now says after receiving numerous angry calls from those fooled by the supposed name change — including, we will admit, TheDetroitBureau.com.

Good one, guys … good one

Volkswagen of America chief Scott Keogh, left, and VW AG CEO Herbert Diess share a laugh, knowing what was going to be unleashed on the U.S. media.

As readers will note, we did question whether this was part of a short-term marketing campaign, rather than a real, permanent name change. After all, other companies have taken similar steps. IHOP in 2018 announced it was becoming IHOB, a short-lived switch, it turned out, to promote the fact it offered more than just pancakes for breakfast.

Indeed, the stunt was intended to highlight the launch of the Voltswagen, er, Volkswagen ID.4, the carmaker’s first long-range battery-electric vehicle targeting the U.S. market. It began rolling into American showrooms this month.

“The alleged renaming was designed to be an announcement in the spirit of April Fool’s Day, highlighting the launch of the all-electric ID.4 SUV and signaling our commitment to bringing electric mobility to all,” said a statement from VW released the day after the rouse, 36 hours before April Fool’s Day.

The right amount of credibility for a fake release

The thread of credibility was, in fact, there for at least a short-term use of the name Voltswagen. The German company is going all-in on electrification, committing to spend more than $80 billion to bring at least 50 all-electric models to market by mid-decade. Its high-line Bentley brand will only sell battery-electric vehicles by 2030 and while the flagship VW brand hasn’t committed to going completely BEV, global CEO Herbert Diess has strongly hinted that is in the works.

Volkswagen has designated $86 billion to bring more than 50 EVs to market in the next few years, including the ID.4.

“We have said, from the beginning of our shift to an electric future, that we will build EVs for the millions, not just millionaires. This name change signifies a nod to our past as the peoples’ car and our firm belief that our future is in being the peoples’ electric car,” said the fake VW release, purportedly quoting Scott Keogh, president and CEO of Volkswagen of America.

VW already did adopt a new name for its electric vehicles. They are being grouped together under the ID banner. An all-electric hatchback, the ID.3, went on sale in Europe last year. Other models are coming, including the ID.Buzz, a modern, battery-powered take on the legendary VW Microbus.

Volkswagen isn’t alone, one rival German automaker marketing its BEVs through the new Mercedes-EQ marque, another opting to call its electric models BMW i. And Hyundai just launched a new battery-car sub-brand called Ioniq.

VW’s reaching out to promote its electrification efforts shouldn’t be surprising. The automaker’s global CEO Herbert Diess declared a goal of becoming the world’s leading EV manufacturer, his goal to “overtake” today’s top seller, Tesla.

Whether the Voltswagen stunt will short-circuit the launch of the ID.4 isn’t certain. But wary journalists are likely to be far less willing to get charged up the next time a VW press release arrives.

Bow. Wow! One-Bow Design Takes Mercedes EQS in an Entirely New Direction

March 27, 2021 admin

The new Mercedes-Benz EQS battery-electric sedan makes its formal debut April 15.

One thing’s for sure: there’ll be no mistaking the new Mercedes EQS sedan when it rolls down the street.

Think of the EQS as the all-electric alternative to the German automaker’s familiar S-Class flagship. But you clearly won’t confuse the two when it reaches showrooms in autumn. Some new battery-electric vehicles share the same design language as conventional, gas-powered products. With EQS, Mercedes goes off in an entirely new direction, one it’s been hinting at with concept vehicles like the 2019 Vision EQS.

The production model adopts what the automaker calls a “one-bow” design. It takes the look of the coupe-like Mercedes CLS to extremes. The result could have rolled off the set of a sci-fi film. But there are practical benefits in terms of range and interior roominess, as well.

“We said we have to go further” than just packing batteries into a conventional looking product,” Steffen Kohl, Mercedes’ director of advanced exterior style, said during a media webinar. The EQS “carries the future of Mercedes-Benz,” he added, noting the “one-bow” language of the EQS will strongly influence other products to come from the new, all-electric Mercedes-EQ sub-brand.

Plenty of power and range

Robert Lesnik led the exterior design effort for Mercedes new EQS battery-electric sedan.

EQS rides on a skateboard-like platform, mimicking virtually all new battery-electric vehicles. Its batteries, motors and other key electrical components sit below the floorboards.

The automaker will reveal full powertrain details during a formal unveiling April 15. But EQS uses twin motors, one on each axle, drawing power from a 108 kilowatt-hour battery pack. That provides about 435 miles of range using the European WLTP test cycle. The EPA rating should come in somewhere about 350 miles, according to industry observers.

The layout moves the sedan’s wheels close to the vehicle’s corners. It also frees up space where a traditional gas or diesel engine would be mounted, providing significant flexibility to the Mercedes design team.

Shorter wheelbase, longer cabin

The cab-forward design features a short nose, the angled, one-piece aluminum clamshell hood rising aggressively to flow into a steeply raked windshield. Instead of a traditional, two- or three-box layout, the look is like that of a single bow line, explained Robert Lesnik, who led the exterior design effort.

The Mercedes-Benz Vision EQS concept provided a framework for the company’s new electric luxury sedan.

“EQS will be the world’s best production car ever in terms of aerodynamics,” with a drag coefficient of 0.20 significantly better than even the sleekest of today’s supercars, he explained.

The effect “looks optically lower than it is,” Lesnik added.

The front end features a new grille with “abstracted, three-dimensional star pattern(s),” according to Mercedes. It’s framed by slit-like headlamps flowing into the front quarter panels.

“When people ask why we need a grille anymore,” Lesnik explains that it is “not an air intake. It’s a face.”

“Coming from the future”

The side panels lack the normal creases found on conventional Mercedes models, though the greenhouse does pinch in towards the trunk, giving the EQS a sense of muscularity.

The new EQS features Mercedes’ newly introduced Hyperscreen technology.

Around back, the most distinctive feature is a light band connecting what Mercedes calls “curved, 3D helix” taillamps.

From nose to tail, the new EQS measures 5.2 meters, or 204.7 inches. That’s about 3.5 inches shorter than the U.S. version of the latest Mercedes S-Class. But the electric sedan has more room for four passengers, its cabin pushed forward into what would normally be the engine compartment.

As distinctive as the exterior might be, the interior takes things even further, said Peter Balko, who oversaw development of the cabin. “We wanted our interior to be modern,” he explained, “as if coming from the future.”

Buyers will have numerous options

Buyers have several key options to choose from. The showpiece layout uses the new hyperscreen concept first shown on the latest S-Class. It features a seamless digital cluster running the entire width of the instrument panel. The organically shaped glass blends three different displays, starting with the digital gauge cluster, the touchscreen infotainment screen and a separate display for the front passenger.

The gauge cluster on the new EQS is configurable based on the wants of the driver.

EQS offers a digital gauge cluster and a large, free-floating, Tesla-like infotainment screen for those seeking a more conventional look. The space in front of the passenger can be outfitted with an assortment of different woods and fabrics and even a version of the Star Pattern grille.

The EQS will “touch almost all of your senses,” said Kohl. Among other things, the product development team has come up with three distinctive, user-programmable “soundscapes.”

Sounding off

While battery cars aren’t entirely silent, they are significantly quieter than vehicles with conventional internal combustion engines. Motorists can enjoy the lack of noise or they can opt for one of the soundscapes, “depending upon the emotions of the moment,” said lead sound engineer Thomas Kuppers.

Silver Waves is meant to be soft and soothing;
Vivid Flux is “shimming and explosive,” a bit “techie but (with) warmth,” said Kuppers; and
Roaring Pulse is “pretty raw, with “the growl of thunder,” especially under aggressive driving.

“We haven’t finished yet,” Kuppers added, noting that, “There will be new soundscapes over the life of the vehicle that we will download through over-the-air updates.”

The new EQS will borrow from the conventional S-Class by also appealing to the sense of smell, Mercedes officials noted. The new BEV will have the ability to inject scents into the cabin, including some designed specifically for the new model.

Volkswagen Ponders Porsche Offering to Fund EVs

February 18, 2021 admin

Volkswagen reportedly is considering an offering of Porsche stock to help fund its $86 billion EV plan.

Bringing EVs to market costs big money, forcing some automakers to go public to raise cash – Volkswagen possibly being next.

Reports suggest that VW is pondering a listing of Porsche AG. The money raised designed to help with the roll out more than $86 billion in electric vehicles set to come mid-decade. German business publication Manager Magzin reported the plan is only in the discussion stage.

The listing, which reportedly could net as much $30 billion, would only be for part of the sports car maker and wouldn’t occur until next year, the publication reported. Some analysts believe if Porsche AG were to be spun off entirely it could be worth more than $120 billion.

Volkswagen’s not alone

VW says it will roll out 50 electrified vehicles across all its brands by 2025.

The rumor comes on the heels of Daimler AG’s move to separate its truck unit into its own separate company in the third quarter of this year. The idea is to “unlock the full potential” of the businesses, which some analysts believe means some sort of offering to raise cash.

Once the split occurs, the car unit will need to fund its ongoing expansion of its electrification effort and that could conceivably come in the form of issuing new shares. The new business will be named Mercedes-Benz AG.

Plenty of other automakers have benefitted from IPOs, notably Ferrari and Aston Martin. However, with the influx of new EV makers moving closer to production around the world, the final push to the finish line requires a massive amount of cash.

EV makers raising money

Nascent electric vehicle companies have been scurrying around looking to add more money to their coffers, the latest company added to the list is Rivian. The company raised more than $8 billion from private investors since the start of 2019, including a recent round netting the company $2.65 billion in fresh money.

Volkswagen has designated $86 billion to bring more than 50 EVs to market in the next few years, including the ID.4.

However, as the company is closing in on building pre-production and early run production electric trucks and SUVs at its plant in Normal, Illinois, the idea of having enough liquidity to get through the process must weigh heavy on the top minds there.

With all of the other EV makers raising money through reverse mergers with blank-check companies and getting listed and a fat check, Rivian appears to be on board. Reports suggest the company is preparing for a conventional IPO this fall that could net it as much as $50 billion.

Other EV companies that have secured additional funding through offerings include Fisker, Lordstown Motors, Faraday Future, Lucid Motors and Nikola Motors. Also, the king of EV mountain repeatedly offered new shares to raise funds.

Stellantis Enjoys Warm Welcome from European Investors

January 18, 2021 admin

Stellantis Chairman John Elkann is meeting with the media tomorrow to talk about the company’s future.

Not every merger involving an automaker these days involves a blank-check company. The newly minted tie-up between Fiat Chrysler Automobiles N.V. and Peugeot S.A. was finalized over the weekend and the resulting company, Stellantis N.V., is enjoying a warm welcome.

At least on the stock market.

The new company’s stock trades on three exchanges and it finished the day on the Paris exchange up nearly 7%, closing at €13.14. It also jumped up 7.7% on the Milan exchange.

The New York Stock Exchange, the third exchange it’s traded on, was not open today due to the Martin Luther King Jr. holiday.

(Chrysler is no more as Stellantis comes to life.)

CEO Carlos Tavares has a lot on his corporate plate now that the merger is complete.

The $52 billion merger of near equals creates a massive enterprise with operations on six continents, employs about 400,000 people, sells – at least for the time being – 14 vehicle brands and sells 8.1 million vehicles annually, making it the fourth-largest automaker in the world behind Volkswagen, Toyota and the Renault-Nissan-Mitsubishi Alliance.

With all of those possibilities, it’s going to take a press conference Tuesday to start revealing what Stellantis will look like now that’s it’s a living, breathing entity. What brands will stay? How many workers will keep their jobs?

People are nervous because the CEO of the new enterprise, Carlos Tavares, has a history of being fearless when it comes to eliminating unprofitable operations and processes in the pursuit of corporate profit. One need only look at how what he did with former General Motors’ subsidiary Opel. A money-loser for a decade, he had it in the black in one year.

(FCA CEO Manley gets new assignment following Stellantis merger.)

“Stellantis faces a mixed outlook as U.S. stimulus plans may buoy Chrysler vs. a more uncertain outlook for Peugeot in Europe,” Michael Dean, BI automotive analyst told Bloomberg. “Former PSA CEO Carlos Tavares takes the helm and, similar to his handling of PSA’s takeover of Opel in 2017, we anticipate a new strategy in the first 100 days of his stewardship. All regions face a difficult 1H amid continued lockdowns.”

Quirky name aside, investors gave Stellantis a warm welcome when it began trading Monday.

The two companies have worked to allay fears of major cutbacks in France and Italy. While top managers have outlined plans to trim costs by $6 billion following the merger, they insist they will be able to do that without closing any plants. They have outlined 40% of those cost savings coming from purchasing, 40% from combining product development efforts, and 20% from marketing and other operations.

However, it’s unclear how Tavares plans to tackle other issues such as improving the company’s performance in China, the world’s largest automotive market, and bolstering its electrification efforts, especially in the aforementioned China as well as in the U.S. Just addressing those two issues are likely to require billions of dollars and euros. Some of plans for these things and more may get touched on Tuesday, Marco Santino, a partner at consulting firm Oliver Wyman, told Reuters.

(Fiat Chrysler and PSA not exactly a “merger of equals.”)

“He has proven to be the kind of person who prefers action to words, so I don’t think he will make loud statements or try to over-sell targets,” he said.

FCA-PSA Set to Kick Off New Year With Completion of Merger

January 4, 2021 admin

Fiat Chrysler and PSA shareholders are expected to approve the merger of the two companies forming Stellantis, the world’s fourth-largest automaker.

This story has been updated to reflect the merger’s approval in separate votes by Fiat Chrysler and PSA investors.

The deal is done; shareholders at both PSA Group and Fiat Chrysler Automobiles now have voted to approve a merger creating the world’s fourth-largest automaker by sales volume, Stellantis.

Shareholders overwhelming approved the deal that was first announced in late 2019 — but only received final regulatory approval late last year. The $58 billion deal won an “Aye” vote from 99.15% of FCA shareholders, while 99.85% of PSA investors approved of the deal during an online meeting. Following the vote, the two companies said the merger process is expected to be completed by January 16.

Officials with the two companies have promised that the merger will yield a significantly stronger automaker, helping drive down manufacturing costs while also making it easier to prepare for the many changes set to sweep through the auto industry in the coming decade, notably the shift to electrified and autonomous vehicles. But the merger also raises numerous questions, starting with the broad range of brands each of the new partners bring to Stellantis. There has been widespread speculation that the new company could eliminate some of the weaker marques, including FCA’s namesakes, Fiat and Chrysler.

(FCA CEO Manley won’t be on the board after merger with PSA is completed.)

Carlos Tavares, PSA (left) and Mike Manley, FCA, shake hands following the signing of the merger agreement between the two companies in 2019.

“Stellantis will be a sort of conglomerate of brands, some great and some not so good and most very regional,” wrote Jefferies analyst Philippe Houchois. “The merger will be a good opportunity for a reset.”

The auto industry has been facing enormous pressures in recent years and FCA’s former CEO, the late Sergio Marchionne, began looking for an additional alliance partner even before completing the merger that formed Fiat Chrysler Automobiles a decade ago. During his tenure the plan was rebuffed by some of the industry’s giants, including Volkswagen and General Motors. It was Marchionne’s successor, Mike Manley, who took things a step further.

Manley came within hours of completing a merger with the largest French automaker, Renault, but the deal unraveled just before it was set to be announced. Months later, FCA made the surprise announcement that it was talking with PSA, parent of brands including Peugeot, Citroen, Opel and Vauxhall.

A formal plan was announced in December 2019 but it faced a variety of challenges, including issues raised by the coronavirus pandemic. Nonetheless, the process moved forward, the proposed partners clearing the last regulatory hurdles as 2020 drew to a close.

Under the agreement, FCA’s Chairman John Elkann – heir to Fiat’s founding Agnelli family – will retain that title at Stellantis. So too will Carlos Tavares, the highly regarded CEO who has been credited with turning around the French company since joining it six years ago, keep his role. Significantly, PSA was able to put the Opel/Vauxhall unit into the black

FCA CEO Mike Manley will not retain a seat on the board of directors after the merger.

within a year after acquiring the German-based operation from General Motors. Under GM, Opel had been in the red for nearly two decades.

(FCA, PSA pick name for post-merger company: Stellantis.)

Nonetheless, PSA has plenty of challenges of its own. Among other things, it is trying to find the formula for returning to the critical U.S. market it left nearly three decades ago.

As Stellantis, the new enterprise will need to move quickly to catch up with key competitors racing to bring electric vehicles to market. These include not only established manufacturers such as VW and GM but new entrants like Tesla and Lucid.

The partners set some tough goals going into the final phase of the merger. Early on, officials estimated they could squeeze out savings of 3.7 billion euros, or $4.5 billion, through various efficiencies. They later upped that to 5 billion euros, or about $6.1 billion. But the pandemic has made the business of forecasting, whether unit sales, revenues or earnings, exceedingly difficult. And the expectation of analysts, such as IHS Markit, is that it will take to nearly mid-decade before global sales come close to pre-pandemic levels.

The industry has been seeing an acceleration of mergers, acquisitions and less overarching joint ventures and alliances in recent years. But FCA provides a textbook example of how they don’t always pan out. The U.S. side, Chrysler entered into a supposed “merger of equals” in 1998 but, a decade later, found itself discarded by the German side of DaimlerChrysler AG. It would have been allowed to go bankrupt by the Obama administration in 2009 were it not for Fiat pulling together a rescue plan.

Fiat Chairman John Elkann will retain the same role in a merged company.

Then, under CEO Marchionne, FCA spent years chasing an even bigger alliance.

Curiously, the company that originally defined the concept of “bigger-is-better” reversed course following its own brush with Chapter 11. GM not only sold off the endlessly struggling Opel unit but also pulled out of an assortment of once important markets, including Australia, Russia and South Africa. After the formation of Stellantis, GM will slide back one spot and become only the world’s fifth-largest automotive manufacturer.

(FCA, PSA formally lock merger into place.)

“The auto industry has been chasing size and consolidation for years, but it’s been slower in coming than many would like to see,” Jefferies analyst Philippe Houchois told investors. “The question is whether GM, Toyota and Renault-Nissan have provided evidence that there may be limits to this strategy.”

First Drive: 2021 Volkswagen ID.4 First Edition

December 18, 2020 admin

Volkswagen offered an early look at the 2021 ID.4. The prototype more than hinted at the impressive crossover coming. (Photo credit: Larry Printz)

The forthcoming appearance of the 2021 Volkswagen ID.4 is far from a surprise if you pay attention to auto shows. It’s here that VW clearly proclaimed what it had up its corporate sleeve with a series of ID electric concept vehicles.

And given the consumer proclivity for crossovers, particularly compact crossovers, it’s little surprise that the first in a series of Volkswagen EVs under the ID sub-brand will appear in March 2021 in the form of the ID.4 compact crossover.

Overview: Offered in base, Pro and First Edition trims, Volkswagen allowed TheDetroitBureau.com to briefly drive a First Edition pre-production prototype, although Volkswagen is still finalizing the vehicle’s software before it enters production.

Initially, the two-row crossovers will be built in Germany, but that will change come 2022. In November 2018, Volkswagen began an $800 million expansion at its Chattanooga, Tennessee plant for a new body shop and battery manufacturing site for the ID.4.

The 2021 VW ID.4 prototype provided an early look at what’s to come next year. (Photo credit: Larry Printz)

Exterior: Given the solid, structural boxiness of VW’s crossovers, the ID.4 is a refreshing change of pace, with flowing, sensual lines offset by a gray accent to the vehicle’s side profile that visually lowers the car. The ID.4’s front-end recalls the new Golf despite the lack of a grille, and the overall presence is cutting-edge contemporary without being excessive. Uniquely, the ID.4’s charging port is not up front like many EVs; it’s in the rear where you would expect to find the fuel filler door. VW includes ports for its charger as well as a DC fast charger.

All models come with a body color roof, black roof rails, 19-inch aluminum alloy wheels, heated side mirrors and washer nozzles, and, on all-wheel-drive models, a heated windshield. The $4,500 Statement package adds a panoramic fixed-glass roof, premium LED projector headlights with adaptive front-lighting, power-folding side mirrors with puddle lamps, a 12-inch touchscreen, SiriusXM satellite radio with a three-month trial, an adjustable trunk floor, and a power tailgate. The $1,500 Gradient package upgrades the Statement package with 20-inch wheels, and a black roof with silver roof rails.

(VW begins battle with Tesla for EV sales in China with two new ID.4 models.)

Interior: Like other EVs, the ID.4’s driveline components are mostly beneath the vehicle, allowing for a flat floor and generous interior space given the vehicle’s overall length, which nearly five inches shorter than a Tiguan. Yet it has 99.9 cubic feet of passenger volume, and 30.3 cubic feet of cargo space, expanding to 64.2 cubic feet with the seats folded.

“… Given the solid, structural boxiness of VW’s crossovers, the ID.4 is a refreshing change of pace …”

The First Edition’s fixed Panoramic glass roof made the cabin feel even larger. There’s ample legroom front and rear for even the tallest of passengers. The ID.4’s two-tone ambience is starkly modern, but less barren than comparable Teslas. Material quality is impressive.

The switchgear on the 2021 Volkswagen ID.4 prototype is almost entirely capacitive, (Photo credit: Larry Printz)

Thoughtfully, designers have filled the ID.4 with little conveniences. The center console has a sloped compartment for wireless charging, as well as wireless Apple CarPlay and Android Auto. The console bin has removable dividers that form a cupholder.

The back of the front seatbacks has small secondary pockets to hold smartphones. And the base of the B-pillars has tie-down points, in case you fold down the rear seats and need to secure cargo. The rear cargo deck’s floor opens to reveal a shallow secondary compartment and another compartment that holds the charger and tire patch kit. There is no spare tire, but there a number of grocery bag hooks and USB-C ports.

The instrument panel contains capacitive switches, but there’s no haptic feedback to alert you of activation. Nonetheless, their spare design was refreshing, as there’s none of the visual clutter that so many designers seem to insist upon. Once deciphered, they’re easy enough to use. The instrument cluster is mounted on the steering column, and telescopes along with the steering column. The transmission switch is mounted next to the cluster, and actuates by twisting it forward for drive, and rearward for reverse. A button on its side engages park.

Standard features include a 10-inch touchscreen, rain-sensing wipers, auto-dimming rearview mirror, dual-zone automatic climate control, keyless entry, and a heated steering wheel and a 4G LTE-enabled hotspot for up to four devices.

(VW ID.4 charges into American market takes aim at Tesla.)

The roomy front seat of the the ID.4 prototype sports a very modern, but not edgy look that supports the exterior look. (Photo credit: Larry Printz)

Powertrain: Uniquely for a modern Volkswagen, the ID.4 is rear-wheel drive, the first since the original VW Beetle and its offspring. An 82 kW AC Permanent-Magnet Synchronous Motor and 1-speed automatic transmission is mounted to the rear axle, and generates 201 horsepower, and 208 pound-feet of torque. A second motor will be added to the front axle later in the model year to provide 302 hp and all-wheel drive.

Volkswagen decided to use rear-wheel drive because it allows for a more powerful motor, negating any chance of torque steer, a common problem with front-wheel-drive EVs, according to Gunnar Wynarski, an engineer with Volkswagen in Chattanooga, Tennessee. In addition, engineers moved a lot of components out of the instrument panel and under the hood to add a margin of extra safety and provide more interior space.

The EPA rates the ID.4 at 104 MPGe city/89 MPGe mpg highway/97 MPGe combined, with a 250-mile range. Charging time from five to 80% takes about 38 minutes on a fast charger, according to Wynarski. Volkswagen also includes three years of fast charging with Electrify America at no additional cost.

Technology and Safety: Standard driver assistance technology includes anti-lock braking system, electronic stability control, forward collision warning, autonomous emergency braking with pedestrian monitoring, blind-spot monitor, rear-traffic alert; adaptive cruise control, lane-keeping assist, travel assist; and emergency assist, dynamic road sign display, park distance control, and automatic high-beam control.

Driving impressions: Our initial drive was brief and confined to the sort of mundane interstates and clogged thoroughfares that constitute daily driving. Clearly, the ID.4 has this sort of driving licked, as its instant torque lends the ID.4 a lively feel. The new MEB platform packs the batteries down low between the axles, which provides for a solid, weighty feel that ably balances compliance and control, while the absence of an internal combustion engine and any semblance of road noise made for a blessedly quiet driving experience. And the accelerator and brake pedals are whimsically embossed with play and pause symbols.

There was no chance to push the ID.4 through more abrupt maneuvers or measure long-term seat comfort or control logic. That will have to wait for a full road test.

(Volkswagen offers early look at ID.4 interior.)

Wrap Up: With the ID.4, Volkswagen has fielded an extremely competitive new entry in burgeoning compact crossover EV segment, one that could quickly grow to outsell its conventional VW siblings.

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