BMW will build electric cars in Leipzig

BMW plans to assemble their electric cars at a manufacturing facility in Leipzig, Germany. Amongst these vehicles is a subcompact, referred to internally as the "Megacity," which the automaker plans to release midway through 2013 with a different name.


“The BMW Group will build the car of the future in Leipzig with high-tech innovations from Bavaria,” BMW CEO Norbert Reithofer said in a statement. “The main reasons behind this decision are the qualities that Germany has to offer: we have a tried-and-tested production network here and high levels of education and outstanding competencies at our disposal.”


BMW plans to launch an entire family of electric vehicles from the Megacity subcompact, which is designed for major metropolitan areas. BMW hasn't decided on a production name for the car.


A heavy use of carbon fiber will help keep the Megacity lightweight. A joint venture with BMW and SGL Group will produce a carbon fiber fabric that will later become carbon fiber reinforced plastic. The automaker has not said what parts will be made from the material.


At the Detroit auto show in January, BMW presented its ActiveE concept, an electric-drive vehicle based on the 1-series coupe. Next year, BMW development chief Klaus Draeger plans to launch another test fleet of electric cars based on the ActiveE.
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Geneva Motor Show: Valmet Eva

The new electric concept vehicle of Valmet Automotive gets its world premiere at the Geneva Motor Show on March 2-14th. "Eva" represents the company's latest know-how in new ecological vehicle technologies.

The concept vehicle is a 2+2 seat electric city car with a range of up to 160 km per one charge. In engineering the vehicle, lightweight and safe body structures have been combined with innovative electric and recharging systems.

Fortum, a leading energy company focusing on the Nordic countries, Russia and the Baltic Rim area, brought to the project its extensive know-how in recharging systems. Thanks to the cooperation with Nokia, the car is equipped with a pioneering Human Machine Interface through mobile handset connectivity. The booth will also showcase a demo based on NAVTEQ's high-quality map data and content which enables green routing and driving functionality use cases.


Valmet Automotive is a forerunner in engineering and manufacturing electric vehicles. Already last year the company started the series production of one of the world's first urban electric vehicle, the THINK City, as well as the luxury Golf Car Garia. Valmet Automotive is also an engineering and manufacturing partner of the world's first premium plug-in hybrid electric vehicle Fisker Karma. The production of the Karma will start later this year.

The manufacturing of Porsche Boxster and Porsche Cayman represents Valmet Automotive's experience and recognized know-how in the production of premium vehicles.

In line with its new strategy, Valmet Automotive today offers to its automotive customers a large portfolio of services from product and process engineering up to series manufacturing and business services.
Photos:zercustoms

VW intends to topple Toyota

10 million sales by 2018 is new goal

BY ANDREAS CREMER
BLOOMBERG NEWS

Volkswagen, Europe's largest carmaker, said it plans to increase sales to more than 10 million vehicles by 2018 as it seeks to dethrone Japan's Toyota.

VW's management board approved business targets, including profit margins, measured by earnings before interest and taxes, of at least 5% for the automotive business in the "medium term," Wolfsburg, Germany-based Volkswagen said in a statement Wednesday. The target doesn't include Porsche, which will be integrated by 2011, it said.

Volkswagen CEO Martin Winterkorn has a target of beating Toyota, the world's biggest carmaker, in global deliveries and profit margins. VW sold 6.29 million cars and SUVsworldwide last year, an increase of 1.1% from 2008. Toyota said last month that 2009 vehicle sales, including those of affiliates, fell 13% to 7.81 million vehicles.

"It shows plenty of ambition in the whole Volkswagen Group," said Stephen Pope, chief global equity strategist at Cantor Fitzgerald in London. "By being able to learn from Porsche's discipline, it gives them that extra springboard."

By 2018, Volkswagen, which includes the Audi luxury division and Czech unit Skoda, should have a pretax profit that exceeds 8% of sales, the company said.

Volkswagen shares fell 18 cents, or 0.3%, to 65.72 euros after rising as much as 1% on the Frankfurt exchange before the announcement. The automaker has a market value of 25.7 billion euros ($36 billion).

"With the implementation of 'Strategy 2018,' the Volkswagen group is seeking global economic and environmental leadership in the automotive industry by 2018," VW said in its statement. The plan would include "significant cost cutting, in part through the more prominent use of the modular design principle."

VW foresees steps to promote research and development of hybrid and electric cars, according to the statement. VW will also maintain "strict discipline" on spending and aim to keep the expenditure on fixed assets in automaking at about 6% of sales in the medium and long term.