Mercedes Hands U.S. Plant an Ultra-Luxury Mission

First Up 03/18/19

Mercedes Hands U.S. Plant an Ultra-Luxury Mission 
In a stunning new chapter of Mercedes-Benz's expansion in North America, the automaker plans to build an ultraluxe Maybach model exclusively at its plant in Alabama, where the rarefied sedan nameplate will be applied to an SUV. According to Automotive News, the new Maybach, based on the all-new third-generation GLS platform, would be the most expensive passenger vehicle made in America. The model is expected to be priced at about $200,000, sources said. The unibody Mercedes-Maybach GLS would be powered by a 560-plus hp V-8 engine and likely debut in China this year and go on sale early next year. Mercedes hopes to introduce the Maybach brand across different models, just as it has done with its AMG performance brand. "We'll logically extend it where it makes sense," Exler said. "I cannot imagine you will have a Maybach A class. But on the top luxury cars, to have the luxury edition makes a whole lot of sense for us." Read more here. 

Toyota Works to Stay Non-Threatening
Is Toyota a threat to national security as one of the largest U.S. vehicle importers, or a valued creator of U.S. manufacturing jobs at a time when General Motors is potentially closing plants? According to Automotive News, as the Trump administration weighs the security question and approaches trade negotiations with Japan, Toyota wants to make sure its unwavering commitment to U.S. manufacturing doesn't go overlooked. The automaker is upping its planned investment by 2022 by 30 percent, to $13 billion, and last week revealed plans to add about 600 jobs across the South — to the delight of President Donald Trump, who praised the expansion. "We've been part of the cultural fabric in the U.S. for over 60 years," Chris Reynolds, Toyota Motor North America's chief administrative officer for manufacturing and corporate resources, told reporters on a call Thursday, March 14. "In a time when others are scaling back, we believe in the strength of America." Read more here. 

Tlaib Bill Would Prohibit Use of Credit Scores to Set Car Insurance Rates
New legislation introduced in Congress by freshman Rep. Rashida Tlaib (D-Mich.) would block insurers from factoring in a consumer's credit history when setting auto rates. Tlaib, a Democrat, says credit history or scores have nothing to do with how people drive, and results in discrimination against low-income consumers.  "It's a new form of red-lining. If you have a low credit score, you're low-income, if you're financially burdened, does that make you less of a safe driver? No," Tlaib said. According to The Detroit News, she represents parts of Detroit, which has the highest auto insurance rates in the nation. "This bill would make underwriting less accurate and could lead to an increase in premiums for auto insurance policyholders,” said Jimi Grande, senior vice president of government affairs for the National Association of Mutual Insurance Companies. The trade association also argued that Congress should respect state's role in regulating the insurance industry, "rather than imposing a needlessly broad and counterproductive ban on this useful underwriting metric." Read more here. 

Trump Attacks GM, UAW Over Plans to Close Lordstown Plant
President Donald Trump targeted General Motors and a UAW leader in weekend tweets urging the carmaker to reopen its manufacturing plant in Lordstown, Ohio. The Detroit Free Press reports that at 1:38 p.m. Sunday, Trump tweeted: "Democrat UAW Local 1112 President David Green ought to get his act together and produce. G.M. let our Country down, but other much better car companies are coming into the U.S. in droves. I want action on Lordstown fast. Stop complaining and get the job done! 3.8% Unemployment!" The tweet at Green came a day after Trump urged GM, also on Twitter, to reopen the Ohio plant, which just made its last Chevrolet Cruze:  "Because the economy is so good, General Motors must get their Lordstown, Ohio, plant open, maybe in a different form or with a new owner, FAST! Toyota is investing 13.5 $Billion in U.S., others likewise. G.M. MUST ACT QUICKLY. Time is of the essence!" The UAW has sued GM over the plant closure, contending it violates terms of the 2015 contract. GM says market conditions have changed, permitting the move. Read more here. 

Battery Start-Ups Are Raising Millions in the Battle to Crush Tesla
For powering your smartphone or your Tesla Model 3, there's currently nothing better than the lithium-ion battery. Since its introduction in 1991, the rechargeable lithium battery has been the standard for everyday tech devices and electric-vehicle power. But as the world races toward an electric future, it needs something better than the lithium-ion battery in order to keep pace. Fortunately, reports CNBC, there are battery start-ups trying to build better batteries, ones with lower costs, improved energy densities and better performance for supercharged industrial products and consumer technology, as well as electric vehicles, which would charge more quickly and travel longer distances. Starting this year, several start-ups with batteries they believe are big improvements over current lithium-ion technology will introduce their cells to the commercial market. Read more here. 

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