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☆ BMW's 'Neue Klasse' at least as profitable as current EVs - CEO Zipse
▼ + stars: | 2023-09-02 | by ( Christina Amann | ) www.reuters.com time to read: +2 min

Chairman of the Board of Management of BMW AG Oliver Zipse attends an event at the Auto Shanghai show, in Shanghai, China April 18, 2023. The Neue Klasse, to be launched in 2025, is at the heart of the carmaker's efforts to replicate past successes and catch up with EV pioneer Tesla (TSLA.O), which is also staging a return to the IAA this year. "We are very profitable with electric cars ... already today," Zipse told reporters, adding that the Neue Klasse - or New Class - would be "very profitable. Production of the new platform will start at the group's factory in Debrecen, Hungary, where BMW is investing 2 billion euros ($2.2 billion) in new battery-making and assembly operations for the Neue Klasse. Development of the Neue Klasse is targeting to reduce battery pack costs by half and achieve 25% more range per kilowatt-hour, a key measure of efficiency, executives have said.

Persons: BMW AG Oliver Zipse, Aly, Oliver Zipse, Zipse, Christina Amann, Christoph Steitz, Helen Popper, David Holmes Organizations: Management, BMW AG, Auto, REUTERS, BMW, IAA, Neue, Tesla, Thomson Locations: Auto Shanghai, Shanghai, China, MUNICH, Munich, Debrecen, Hungary, Mexico

☆ BMW expects higher margin and deliveries in 2023 amid electric rollout
▼ + stars: | 2023-03-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

German automaker BMW on Wednesday set out targets to slightly increase margins for its automotive segment and raise deliveries this year, as it pushes ahead with the rollout of its electric fleet. The company said it expects an EBIT (earnings before interest and taxes) margin of between 8-10% for its automotive range in 2023, with deliveries set to rise slightly from 2022 and "selling prices remaining at a stable level." It forecasts the used car market will normalize this year "due to the increased availability of new cars." Like rivals, BMW has been contending with global semiconductor shortages and supply chain disruptions, challenging it to fulfil its book order. The company confirmed the full-year 2022 results reported last week, including an EBIT of 10.6 billion euros ($11.4 billion) for its automotive segment, which had an.

☆ Factbox: As Tesla prepares a Mexico plant, a look at auto plants in Mexico
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +3 min

[1/2] A general view shows the General Motors assembly plant in Ramos Arizpe, in Coahuila state, Mexico February 11, 2021. REUTERS/Daniel BecerrilFeb 28 (Reuters) - Mexico has long been a manufacturing hub in North America for multiple automakers, and the country is trying to position itself for the wave of electric vehicles (EVs) to come. The auto sector is a driver of Mexico's major manufacturing industry, which is heavily integrated into U.S. and Canadian supply chains. Mexican officials on Tuesday said Tesla Inc (TSLA.O) is the latest automaker with plans to build a plant in Mexico. Here are major automakers with plants in Mexico -General Motors Co (GM.N)Silao Plant in the central city in Guanajuato state, produces Chevrolet and GMC full-size pickup trucksRamos Arizpe Plant in the northern city in Coahuila state, builds the Chevrolet Equinox and Blazer SUVs now and will build the 2024 Blazer EV and Equinox EVSan Luis Potosi Plant in the state capital of the central state of San Luis Potosi, produces the Chevrolet Equinox and GMC TerrainFord Motor Co (F.N)Cuautitlan Assembly plant in the central city of Cuautitlan Izcalli, produces Ford Mustang Mach-EHermosillo Assembly Plant in the state capital of the northern state of Sonora, produces Ford Bronco Sport and Ford MaverickToyota Motor Corp (7203.T)Toyota Motor Manufacturing de Baja California in the northern border city of Tijuana, Baja California, produces the Toyota Tacoma pickupToyota Motor Manufacturing de Guanajuato in Apaseo el Grande, Guanajuato, produces the Toyota TacomaStellantis (STLAM.MI)Saltillo Truck Assembly Plant in the state capital of Coahuila, produces Ram light and heavy-duty pickupsSaltillo Van Assembly Plant, makes the Ram ProMaster vanToluca Assembly Plant, produces the Jeep CompassNissan Motor Co (7201.T)Nissan Mexicana (Cuernavaca) in the central city of Jiutepec, produces NP300 pickup truckNissan Mexicana (Aguascalientes 1 Plant) in the central city of Aguascalientes, produces March, Versa, KicksNissan Mexicana (Aguascalientes 2 Plant), produces SentraNissan also has a joint venture plant with Mercedes (MBGn.DE) in Aguascalientes, making the Infinti QX 50 and 55 SUVs, and Mercedes GLB SUVHonda Motor Co (7267.T)Honda de Mexico (HDM) in Celaya, Guanajuato, produces HR-VVolkswagen (VOWG_p.DE)Volkswagen de México in Sanctorum, Puebla, produces Jetta, Tiguan, TaosVW's Audi unit in San José Chiapa, Puebla, produces Audi Q5 premium SUV and plans to start manufacturing EVs by 2027Mazda Motor Corp (7261.T)Mazda de Mexico Vehicle Operation (MMVO) in Salamanca, Guanajuato, produces Mazda2, Mazda3, Mazda CX-30Kia AmericaHyundai Motor Co's (005380.KS) Kia has a plant in Pesqueria, Nuevo Leon, produces Kia Forte, RioBMW AGBMW Plant in San Luis Potosi, produces BMW 3 Series, 2 Series and will produce fully electric "Neue Klasse" modelsSOURCES: Carmakers and Auto Forecast SolutionsCompiled by Kannaki Deka in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Rio Tinto enters agreement with BMW to provide hydro-produced aluminum
▼ + stars: | 2023-02-21 | by ( Stephen Culp | ) www.reuters.com time to read: +1 min

[1/2] A BMW car logo is displayed during a media tour at the plant of German automaker BMW in San Luis Potosi, Mexico, February 3, 2023. REUTERS/Toya Sarno Jordan/File PhotoNEW YORK, Feb 21 (Reuters) - Rio Tinto on Tuesday said it would supply BMW with aluminum it produces in Canada using hydroelectric power, lowering the auto manufacturer's carbon footprint with respect to its procurement of the automotive metal. The UK-based mining company and the German automaker announced in separate statements that they had signed a memorandum of understanding (MOU) for Rio Tinto's hydro-powered operations in Canada to provide a BMW production plant in Spartanburg, South Carolina, with an unspecified amount of aluminum starting in 2024 -- a move that "could generate a reduction of up to 70 percent in CO2 emissions compared to the BMW Group's benchmark for aluminum," according to Rio Tinto. "The agreement to supply low-carbon aluminium" is also aimed at "ramping up our use of aluminium with no direct CO2 emissions from the smelting process," wrote Joachim Post, member of the Board of Management of BMW AG, which is responsible for its purchasing and supplier network. Reporting by Stephen Culp; Additional reporting by Ernest Scheyder; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

PREVIEWDave Edwards, the chief executive at Greenville-Spartanburg, said just over a decade ago his airport had no international air cargo operations. BMW today accounts for about a quarter of Greenville-Spartanburg’s roughly 15 international cargo flights a week. Air cargo volumes fell through most of last year as manufacturers and retailers pulled back on orders because of slowing consumer spending. Rockford, about 70 miles from Chicago O’Hare International Airport, has become one of the most successful regional airports for cargo. It is a hub for United Parcel Service Inc. and has attracted air operations for companies including Amazon.com Inc., DSV and A.P.

☆ BMW brand delivers 2.1 million vehicles in 2022
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Jan 10 (Reuters) - The BMW (BMWG.DE) brand delivered 2.1 million vehicles in 2022, down 5.1% from the previous year, but still maintained its number one position in the global premium segment, the company said on Tuesday. The BMW Group delivered 2.4 million vehicles, a 4.8% decrease from last year. The Group was able to more than double the sales of fully-electric vehicles to 215,755 units. "We are confident we can build on this success in 2023, as we continue to see particularly high order intake for our fully-electric models," said Pieter Nota, member of the board of management of BMW AG responsible for customer, brands and sales. Writing by Miranda Murray, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Companies are increasingly working together to cut greenhouse-gas emissions but such collaboration faces the threat of antitrust action demanded by politicians who say it violates competition rules. There are now more than 150 business climate collaborations, according to research by Harvard Business Review. “There are a lot of ways to stay on the right side of antitrust laws,” says Justin Stewart-Teitelbaum, antitrust partner at Freshfields. Traditionally, in most jurisdictions, antitrust officials weigh whether the benefits of cooperation outweigh any economic harm caused by it. The anti-ESG movement in the U.S. bases its antitrust threats partly on an assertion that climate action provides little societal benefit to outweigh any economic harm of cooperation.

☆ BMW teases a talking car that shifts colors like a chameleon
▼ + stars: | 2023-01-05 | by ( Joseph White | ) www.reuters.com time to read: +2 min

BMW plans to launch a new lineup of electric vehicles, which it is calling the Neue Klasse, or new class. The BMW concept was very much a show car, with elements that could be challenging to put into mass production at competitive prices. But Zipse told a packed theater at the Palms Casino that BMW "will bring this technology into our Neue Klasse ... in serious production." Playing on its long-time slogan "the ultimate driving machine," BMW said the "Dee" technology could make future cars the "ultimate companion." The i Vision Dee car has 240 separate color cells that can change individually.

☆ Analysis-Bumper green aluminium output is good news for carmakers, and climate
▼ + stars: | 2022-12-17 | by ( Eric Onstad | ) www.reuters.com time to read: +6 min

Next year’s forecast increase in “green aluminium” output would reduce that by 13 million tonnes, or about 1.2%. Polestar said it pays slightly more for green aluminium, partly due to the administrative costs of changing suppliers, but did not say how much more. Producers, however, are still managing to sell some of their low-carbon output at higher prices under quarterly and annual contracts. Rising output of both will keep green premiums relatively low in the coming years, said Marcelo Azevedo at the McKinsey consultancy. GRAPHIC: Abundant Supplies of Green Aluminium - here

☆ BMW fined by UK watchdog over information request
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] BMW logo is seen on a vehicle at the BMW manufacturing plant in Greer, South Carolina, U.S., October 19, 2022. REUTERS/Bob Strong/File PhotoDec 8 (Reuters) - The UK's anti-trust regulator fined German luxury carmaker BMW (BMWG.DE) 30,000 pounds ($36,519) plus a further daily penalty of 15,000 pounds on Thursday over a disputed information request related to an ongoing auto industry probe. BMW said in March it would respond to regulators' information requests but the CMA said that while the company's British unit had provided information, "the wider BMW Group has failed to comply fully with the CMA's legal request, and has claimed the CMA does not have jurisdiction." BMW said in an emailed statement that the "CMA does not have the legal power to compel foreign companies to produce documents held entirely outside the UK jurisdiction". The CMA said the daily penalty will continue to accumulate until BMW provides the requested information, or the watchdog issues an infringement decision, or closes the case.

☆ BMW invests $1.7 bln to build electric vehicles in U.S.
▼ + stars: | 2022-10-19 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

An employee works at the BMW manufacturing plant in Greer, South Carolina, U.S., October 19, 2022. The luxury automaker plans to build at least six fully electric BMW models in the United States by 2030. BMW Group had already announced that four additional battery cell factories will be built in Europe and China to meet its needs. BMW's 30-year-old South Carolina plant has built more than 6 million vehicles, employs more than 11,000 people, and has an annual production capacity of up to 450,000 vehicles. South Carolina awarded a $65 million grant to Spartanburg County to assist with costs related to the project.

☆ BMW investing $1.7 bln to build electric vehicles in U.S.
▼ + stars: | 2022-10-19 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

SPARTANBURG, South Carolina Oct 19 (Reuters) - BMW AG (BMWG.DE) said on Wednesday it will invest $1.7 billion to build electric vehicles in the United States, the latest announcement from major automaker about plans to ramp up U.S. EV production. "It's the biggest single investment we've done so far," BMW Group Chairman Oliver Zipse told Reuters in an interview. The luxury automaker plans that at least six fully electric BMW models will be built in the United States by 2030. BMW Group has already announced four additional battery cell factories will be built in Europe and China to meet its needs. BMW's 30-year-old South Carolina plant has built more than 6 million vehicles, employs more than 11,000 people, and has an annual production capacity of up to 450,000 vehicles.

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