BMW´s new electric Concept iX3 -range 400 km

 

P90301493_highRes_bmw-concept-ix3-04-2BMW´s new electric concept iX3.

BMW Group  (BMW:GR) is working hard with electric cars. The company has  published a new electric concept car,  iX3  at the Auto China 2018 show in Beijing.

This is the first model from the BMW brand to be driven purely by electric power as fully-fledged Sports Activity Vehicle (SAV).

– The expansion of locally emission-free mobility vehicles is one of the key areas of centralized action, alongside with automated driving, high-end connectivity and new digital services, which are driving the company’s transformation of the mobility industry as part of the NUMBER ONE> NEXT strategy.

According to BMW, the launch of the fifth-generation electric drive system technology  makes integration into different vehicle architectures significantly easier. The individual components of this new BMW eDrive technology stand out with their lower weight, scalability and compact construction.

– The electric motor, transmission and power electronics are now grouped into a single component, making it much easier to integrate them into different vehicle architectures. Plus, their modular construction enables them to be adapted to the performance levels required and the available space. Another notable element is that the electric motor does not need any rare earths, which means the BMW Group is not dependent on their availability, the company says.

The version of the fifth-generation electric motor developed for the SAV generates maximum output of over 200 kW/270 hp. The likewise model-specific high-voltage battery has a net capacity of over 70 kWh, which is enough to give the electric SAV a range of more than 400 kilometres (249 miles) in the WLTP cycle.

Another major feature of the high-voltage battery  is its optimised charging capability. The energy storage system has a newly developed Charging Control Unit and is designed to be hooked up to fast-charging stations generating up to 150 kW. The highvoltage battery can be charged in just 30 minutes from one of these stations.

BMW i is also associated with  DriveNow (car sharing), ReachNow (car sharing 2.0), ChargeNow (easy access to the world’s largest network of charging points), ParkNow (straightforward location, reservation and payment of parking spaces).

 

Business Tech

BMW´s new autonomous driving campus in Munich

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The BMW Group  (BMW:GR) has opened its new autonomous driving campus in Germany,  Munich this week. This new centre reflects the company´s target to innovate and develop new standards for the future and to increase the sustainability leadership.

– 15 months ago, the BMW Group took the decision to pool together its development expertise in the fields of vehicle connectivity and highly / fully automated driving at a single location. The campus, which offers 23,000 square metres of office space with room for 1,800 employees, was completed in record time. The site’s optimum infrastructure, its proximity to the Research and Innovation Centre, and the nearby link to the motorway network helped to swing the decision in its favour, the company says in the press release.

The autonomous driving campus is using modern office interior design and technology in order to integrate the working as smooth as possible, from development to testing.

– This means, for example, that a software developer working at the new campus can immediately test out freshly written code in a vehicle that is just a short walk away, the company says.

Business Tech

Basel2018 – LVMH pleased with the selling

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This year Baselworld 2018, the leading  global luxury watch and jewellery trade show,  was special for many reasons. First this was a show case for many companies after the lagging sales after a couple of years. Secondly, this was also a year with many new product launches and industry integrations.

The world´s leading luxury company, LVMH and its Watch Division are very pleased with the trade show. – This Baselworld has been the best ever – we were sold out after three days, says the President of the Watch Division and CEO of Tag Heuer Jean-Claude Biver.

This division of the LVMH Group consists of 6 different houses and its sales were 3,8 billion euros last year. They have also 405 own stores globally. Brands like Tag Heuer, Hublot, Bulgari and Dior are part of this division. The organic growth was 12 % last year and the profit in this division was 458 million euros, + 12 %.

This is also in line with other luxury company announcements lately.  For example Tiffany & Co, released its last year figures. The group´s sales was up 4 % to 4,2 billion dollars. The growth accelerated during the last quarter and global sales rose by 9 % to 1,3 billion dollars.

Some of the new highligths was also the Swarovski Atelier. In the below picture  the company is revealing its new elements with fine jewellery.

The two models are wearing moon stones and rose gold from the company collection called Pasqualebruni. It is an Italian family owned company.

And the last picture is about Porsche Design and its history of car integration. Acording to the company, Porsche Design follows a clear design philosophy: to optimize function. The company has launched a new Monobloc Actuator 24H – this titanium watch has got a new form and for example has the two-time-zone mechanism.

 

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Business Lifestyle

Spotify to start trading April 3 in NYSE

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Music streaming company Spotify will start trading in the New York Stock Exchange on the 3rd of April. According to the company and Wall Street Journal the trading code  in this direct listing will be “SPOT”.

Spotify is having about 159 million active users monthly and majority of the revenues comes from the premiun packages. The average revenue per premium user (ARPU) has declined to 5,32 euros last year from 6,20 euros in 2016.

Spotify´s revenue was 4,1 billion euros last year, up 39 % from year earlier. The loss was 1,24 billion euros, up from 539 million euros in 2016.

According to the company, Spotify is planning to increase its R&D team in London and make it a global R&D hub for the group. Spotify spokespersons comment that the car will be an important part of the company growth in the future, while 30 % of music listening will happen in the car. Spotify has also a venture with Tesla Europe.

Business Tech

FT: Luxury online Farfetch planning an US IPO

The British luxury online-retailer Farfetch is planning an US IPO. According to the Financial Times, the company has hired investment bankers from JPMorgan and Goldman Sachs to lead the offering. The company is selling brands like Gucci, Fendi and Valentino. The company nor the bankers did not comment the FT news.

This London based company is one of the few tech companies at the row valued more than billion dollars, the newspaper says. The luxury online markets have been growing steadily and for example last year the growth figures were double digit.

The companies in the markets are active and for example the Swiss luxury giant Richemont (CFR:SW)  announced in the late January a tender offet to buy Net-a-Porter (YNAP:MI), the word largest online luxury retailer. The Swiss company is planning to have the majority of the Milan based online-luxury retailer, while it owns 49 % of the platform at the moment.

Business

Berkshire Hathaway: 3 billion losses from hurricanes

 

One of the largest holding companies in the US, Berkshire Hathaway (BERK)  has commented the environmental losses in their insurance operations. According to their CEO Warren Buffet, the company estimates that the three hurricanes in the US (Harvey, Irma and Maria) caused the company 3 billion dollars losses.  The company also estimates that the company´s share of the big environmental damages  in the US would be around 3 % in the future.

The company commented these on Saturday, when Mr Buffet also published his letter to shareholders. Hurricanes Harvey, Irma and Maria and the wildfires in California have been in the headlines when climate change and rapid urbanization are increasing the insurance companies environmental losses. In Berkshire, the insurance businesses are in Geico insurance company and in General Re reinsurer.

Last year was very good for the company, showing 23 % increase in net worth  totalling 65,3 billion dollars.  Nearly half of it, about 29 billion dollars, were from the new taxation gains from the president Trump administration.

Berkshire Hathaway is also showing 116 million dollars cash and according to Buffet they are searching for new purchases. – The key qualities we seak are – durable competitive strenghts, he wrote in the letter.

He did not comment the company´s  big positions like Apple (about 3 %) or WellsFargo. The company made smaller acquisitions during last year and for example a company called HomeServices, a real estate brokerage company, is now the second largest in the US – and focusing on this 3 % real estate brokerage  business.

Business

New Volvo plug-in-hybrid – V60

 

 

The Volvo Cars Group  (VOLVB) has presented their new hybrid car – V60.  It is designed to meet the quality, design and safety needs of everyday life in the city and countryside.

According to the company  “the car was launched in its natural habitat – the driveway of a family home in Stockholm – highlighting Volvo Cars’ pedigree in family estates and pinpointing how the V60’s versatile design caters to the diverse needs and realities of modern family life.”

This five-door, mid-size premium estate & plug-in hybrid can have combined power from 340 hp to 390 hp (petrol & electricity).  Volvo says it will also produce a diesel version of this model. The driving range with electricity is estimated to be about 45 kilometers. The lithium batteries are in the center of the car, so this enables more space for sporting goods.

The price of the Volvo V60 T6 Twin Engine Inscription level is 518 900 SEK  and the V60 T8 is 548 900 SEK.

– They will go on sale during summer time in Sweden and the start of the production is during the autumn time. First cars should be ready during the first quarter of 2019, the Volvo-company spokesperson confirmes.

The company also announced that they are offering a lease version instead of owning a Volvo.

– Our premium subscription service Care by Volvo offers car access via a monthly flat-fee subscription rather than ownership. Care by Volvo makes having a car as transparent, easy and hassle free as having a mobile phone, the company says.

This service is available for example in Germany, Norway, Sweden, Poland, Spain, UK and USA.

 

 

Business