Listen to “AD #3435 – Lotus Reveals 1st Electric Model; Nissan Ariya Driving Impressions; Mercedes Quits Russian Market” on Spreaker.
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Runtime: 10:59
0:08 Mercedes Posts Strong Q3 Results
1:00 Mercedes Quits Russian Market
1:30 Hyundai Breaks Ground on U.S. EV Plant
2:18 U.S. & EU Form Task Force to Discuss EV Incentives
3:31 Opel Unveils Performance Version of Grandland SUV
4:33 Lotus Reveals 1st All-Electric Model
6:10 Honda Teases New Accord
7:06 Audi Partners with Sauber To Race in Formula 1
8:03 Nissan Ariya EV Driving Impressions
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This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry.
MERCEDES POSTS STRONG Q3 RESULTS
Mercedes released its third quarter earnings and like General Motors’ results we reported yesterday, they were substantially better than a year ago. The company sold more than 630,000 vehicles, including commercial vans, a gain of nearly 35%. And its EVs outperformed that increase. Its passenger BEV sales were up 183% and electric van sales were up a third but it did not provide specific numbers. That helped its revenue jump 19% to more than 37 billion euros. And its EBIT or earnings before interest and taxes were up 83% and its net profit soared 104% in the third quarter. And because of the strong results Mercedes raised its full-year profit forecast.
| Mercedes Q3 2022 Results | ||
|---|---|---|
| Sales | 634,392 | +34.6% |
| Revenue | €37.7 B | +19% |
| EBIT | €5.2 B | +83% |
| Net Profit | €3.9 B | +104% |
| Source: Mercedes-Benz | ||
MERCEDES QUITS RUSSIAN MARKET
And speaking of Mercedes, it’s the latest automaker to quit the Russian market. It will sell its shares in its industrial and financial services subsidiaries to a local dealer chain. Mercedes says the selloff won’t affect its future financial results beyond what it already has reported. Through the first nine months of the year, the automaker has sold less than 10,000 vehicles, which is down nearly three-quarters compared to last year.
HYUNDAI BREAKS GROUND ON U.S. EV PLANT
The Hyundai Group broke ground on its first dedicated EV and battery plant in the U.S. The automaker and its suppliers are investing $5.5 billion in the new facilities which will be located in Georgia. The site will produce EVs for Hyundai, Kia and Genesis with an annual capacity of 300,000 units. Production is expected to kick off in the first half of 2025. The new plant is part of the Hyundai Group’s goal to sell over 3.2 million electric vehicles a year globally by 2030. And perhaps more importantly for the company, once the Georgia plant is up and running, the automaker will qualify for EV tax incentives under the new Inflation Reduction Act.
U.S. & EU FORM TASK FORCE TO DISCUSS EV INCENTIVES
And speaking of that bill, Reuters reports that U.S. and European Union government officials are forming a task force next week to discuss the EU’s concerns that the IRA discriminates against foreign brands. In order to receive EV incentives, the law requires electric vehicles be produced in North America and that a certain percentage of battery minerals be sourced from the U.S. or other free-trade partners. But with the EU, along with South Korea, lobbying hard against those provisions, it looks like the requirements could be relaxed.
OPEL UNVEILS PERFORMANCE VERSION OF GRANDLAND SUV
We recently reported that Opel is reviving its old performance sub-brand GSe, but this time only for electrified models. And we’re starting to see the first examples. It already showed off the Astra GSe and now it’s showing a version of the Grandland SUV. Like the Astra, the Grandland GSe doesn’t have any power upgrades. Right now it’s all about handling and cosmetics. It comes with stiffer springs and dampers, sporty front seats, unique 19-inch wheels, a rear diffuser and GSe badging. Under the hood is the same powertrain as the plug-in hybrid Grandland; a turbocharged 1.6L engine mated to two electric motors that combine for 221 kW or 300 horsepower of AWD fun. While there’s a little less ‘sport’ in these models that you might like to see, we suspect that will come with future versions.
LOTUS REVEALS 1ST ALL-ELECTRIC MODEL
But there’s no doubting the ‘sport’ of this next model. Lotus revealed its first-ever all-electric vehicle, the Eletre. The performance SUV comes in two power outputs. The first delivers 450 kW or 603 horsepower, while the more powerful dual-motor setup offers 675 kW or 905 horsepower. Performance from 0-100 km/h comes in at either 4.5 or just under 3.0 seconds. All models also feature air suspension, torque vectoring and a 112-kWh battery pack. With the standard setup, it provides 600 kilometers or 373 miles of range, while the performance model has up to 490 kilometers or 304 miles of range. The interior of the Eletre is minimalist, but features a modern design and a large display screen in the center of the dash, which runs off a new operating system that allows for over-the-air updates. The electric SUV also comes standard with deployable lidar, which Lotus says supports end-to-end autonomous driving. Look for the Eletre to go on sale in the first half of next year with a starting price range between 96,000 to 151,000 euros. Despite the higher price tag, Lotus says it already has thousands of deposits.
HONDA TEASES NEW ACCORD
Speaking of new vehicles, Honda is going to show off the new Accord next month. It’s teasing the sedan with a set of pictures that don’t show much, but it did reveal it will have a more responsive hybrid powertrain, Honda’s largest-ever touchscreen at 12.3 inches and its first integration of Google into the car.
AUDI PARTNERS WITH SAUBER TO COMPETE IN FORMULA 1
Audi finally made it official. It’s getting into Formula One with the Sauber Group, which is currently racing under the Alfa Romeo banner. Audi already has 120 people working on a new powertrain even though it will not make its racing debut until 2026. That powertrain includes an electric motor, battery, control systems and a 1.6-liter piston engine that will run on carbon-neutral synthetic fuel and develop 544 horsepower. The electric motor will produce nearly as much power, bringing total output to over 1,000 horsepower. In a way, this represents Audi’s return to Grand Prix racing. Auto Union, which was Audi’s predecessor, ran its famous supercharged V16 cars in Grand Prix racing from 1933 to 1939.
NISSAN ARIYA DRIVING IMPRESSIONS
Nissan was once an EV leader when it came out with the Leaf in 2010. But it failed to expand its EV lineup and squandered its first mover advantage. Now the company hopes to make up for lost time with the Ariya (aria). We got to test drive one yesterday and here are our initial impressions. This is a good looking EV that will appeal to people who find Tesla’s a bit too minimalistic. The interior is much richer looking than any Tesla and it has a high-tech vibe with a long horizontal instrument panel dominated by dual 12.3 inch monitors that are butted together in one large, curved display. Push the start button and the instrument cluster comes alive with an animation and sound track that shows off its graphic capabilities. Some other slick features include an electrically operated, sliding center console that you can move back and out of the way, or move it forward as a working surface when not driving. There’s also an electrically operated glove box in the center of the IP that glides in and out of place. This is a roomy vehicle with plenty of luggage space behind the rear seats even if they’re not folded down. We drove the front wheel drive version which comes with a single 238 horsepower electric motor, which sounds pretty good, except this vehicle is a bit slow off the line compared to other EVs. An all-wheel drive model with dual motors and a combined 389 horsepower should prove to be a lot peppier when it comes out. In about an hour of driving on both highway and surface streets we averaged 3 miles per kilowatt hour with an outside temperature around 60 degrees Fahrenheit–decent, but nothing to write home about. However, Nissan’s self-parking feature, called ProPilot Park, which handles both parallel and back-in parking was impressive and worked flawlessly. So did ProPilot 2.0, which allows for hands free driving on highways that have been mapped. Nissan says over 200,000 miles of highways have been mapped in the US. That’s some of our initial impressions and we look forward to spending more time in the Ariya and learning more about it.
But that brings us to the end of today’s show. Thanks for joining us and we’ll be right back here again tomorrow.
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Seamus and Sean McElroy cover the latest news in the automotive industry for Autoline Daily.
