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Mercedes CEO says he ‘must be drunk’ when he approved AMG One hypercar

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Mercedes CEO says he 'must be drunk' when he approved AMG One hypercar

problem hypercar The AMG One gave Mercedes a lot of headaches. Originally scheduled for a 2019 launch, the model has yet to hit dealerships until today. a problem perhaps underestimated by the German automaker: the adaptation of a powertrain designed for single-seat cars – in this case Formula 1 – to a street model. The brand’s CEO Ola Kallenius himself joked about the launch delay last Thursday (19) while talking to investors, saying he must have been “drunk” when he agreed to the project.

“About four years ago, the AMG team and its Formula 1 powertrain division approached us and said, “We have a great idea: let’s put a Formula 1 engine in a road car.” I’ll have to go back to check the minutes of the meeting, but I’m sure we were drunk when we said yes,” Kallenius joked when asked about the hypercar’s launch date.

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The Mercedes AMG One uses a 1.6 V6 hybrid engine borrowed from the Constructors’ Championship-winning car in Formula 1 in 2017. With all-wheel drive, it was originally slated for early 2019. At the moment, it still doesn’t have a set release date, although the company says it will announce news about the model “in a few weeks.” With 1,000 horsepower, the car has a top speed of 350 km/h and accelerates from 0 to 200 km/h in just 6 seconds.

Ola Callenius (centre) with Lewis Hamilton: The executive wants the automaker to be more involved in F1 (Cristiano Barmi/Shutterstock)

The documentary will show the history of the project

Mercedes is also promising to release a “very honest” documentary on the development of the hypercar, marketing director Bettina Fetzer announced at the same investor event in Monaco.

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The German automaker should draw inspiration from the successful Drive to Survive series. about reality show Formula 1 on Netflixto close the function. Executives are betting on an approach that shows the daunting task of adapting a single-seat engine to a street car, likely to soften the tight launch delay skirt and brand image.

Mercedes said last year that production of 275 AMG One units would begin in 2022 and that each was sold for €2.27 million (about R$11.6 million). According to Kallenius, this will connect the company’s activities in Formula 1 with its road cars. “This demonstrates that our participation in Formula 1 has a direct impact on the AMG brand,” he said.

Main image credit: Mercedes-Benz/Disclosure. (AMG One design in detail)

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Economy

Oil is moving forward. Hunt for leftovers in the stock market raises interest rates in Europe

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European markets are in the red.  Interest on Portugal's debt hits 2.5% - Markets in a minute

Europe with the best day in three months

The underlying Old Continent Stoxx 600 index, after posting lows since February 2021 yesterday, rose 2.62% this Friday to 412.93 points. This is the biggest daily increase since mid-March. All sectors ended the day in the green, with technology up the most with 3.74%, followed by the media and food sectors.

Major markets in Western Europe also closed strong on a day marked by bargain hunters who took advantage of stocks becoming cheaper to invest in.

“We have seen signs that institutional investors believe that the European market has some value,” Joachim Klement, an analyst at Liberum Capital, told Bloomberg.

“We must remember that even in today’s rebound, not only cyclical sectors are leading the market, which indicates that this is a bear market rebound, but not the end of the bear market,” he further explains.

The Amsterdam stock market led the gains, with the AEX up 3.84%, the Paris CAC40 up 3.23% and the London Footsie 100 up 2.68%.

In an upward trend, Italian Footsie Mib jumped 2.33%, Spain’s IBEX35 added 2.62% and Germany’s DAX30 rose 1.59%.

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The fall in prices in a double dose “lightens” the Portuguese wallets. Know how much you will pay to complete the deposit

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Between rising fuel prices and falling CPI for gasoline.  Find out how much you will pay for replenishing your deposit this week

For the first time in the past five weeks, diesel fuel will follow a downward trend. And the good news is that next week, gasoline will follow the same path: according to a sector source contacted by Multinews, the main national oil companies are “focusing on reducing the price of diesel to three cents.” per litre. In the same sense, gasoline should be cheaper to 1 cent.”

Private label gas stations, which usually operate near hypermarkets, are following the trend and are reporting “a €0.0077 price decrease for petrol and €0.0273 for diesel,” another source said.

Taking into account these movements, the Government has determined an additional ISP reduction of 1.2 cents for gasoline and 0.4 cents for diesel from this Monday, which will be reflected in tax relief, the Ministry of Finance said.

It was the sixth decline in gasoline prices since the start of the year, despite having already registered 19 weeks of growth. As for diesel fuel, this is the seventh drop since January, which, however, is “contradicted” by 17 increases in 2022. During this period, the price of diesel increased by 47 cents per liter, while the price of gasoline rose by 51 cents.

This means that filling a 60-liter tank of diesel fuel costs 28.2 euros more than in January. It takes 30.6 euros more to fill up the gas tank than in the first week of the year. Remember the fuel prices at the beginning of the year: 1,501 euros for diesel and 1,665 euros for gasoline.

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This Monday, taking into account the announced break, the invoice confirming the deposit of 60 liters of diesel fuel will decrease by 1.8 euros. If you fill up the gas tank, you save 60 cents.

Data from the Directorate General of Energy and Geology (DGEG) shows that the average price of a liter of diesel fuel in Portugal is currently 2080 euros per liter, while the price of 95 gasoline is 2121 euros. The latest fuel bulletin from the European Commission states that Portugal ranks 9th in terms of the cost of gasoline 95 of the 27 countries of the European Union. Diesel takes the 10th position in the European ranking.

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Stoxx 600 at 16-month low. Portuguese debt interest below 2.5% – markets per minute

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Stoxx 600 at 16-month low.  Portuguese debt interest below 2.5% - markets per minute

The Stoxx 600 hit 16-month lows and is about to record the worst half since the 2008 crash.

European stocks started the session colored red, refreshing their February 2021 “benchmark” lows, fueled by fears of a possible recession, fueled by statements by US Federal Reserve Chairman Jerome Powell in the US Senate.

The Stoxx 600 lost 1.25% to 400.68 points. Of the 20 sectors included in the index, energy and mining companies are suffering losses due to falling prices for oil and other raw materials. The European benchmark par excellence has already lost 19% since its peak in January, so it is one step away from a bear market.

The benchmark is even set to record the worst half since the 2008 financial crisis triggered by the war in Ukraine and hawkish central bank monetary policy to curb inflation, the world’s biggest monetary crisis, according to a Bloomberg report. tightening of the movement since the 2000s.

However, some strategists believe that part of the losses can be won back. The Stoxx 600 should end the year at 467 points, up 14% from Tuesday, according to Bloomberg’s mid-month forecast of 15.

“Now there are interesting opportunities in the medium term. The situation remains the same, but it seems that the market is starting to learn to live with it as it looks for a fund,” defended Diego Fernandez, investment director of A&G Banca Privada. in Madrid, according to Bloomberg.

In other European markets, the focus is on London, which lost 1.02% on the day of celebrations of the sixth anniversary of the Brexit referendum in 2016. After this event, the British FTSE index has already fallen by 8.7%, but now everything can change. that the London benchmark is doing better than some of its peers this year.

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Madrid loses 1.29%, Frankfurt 1.40%, Paris 1.29% and Amsterdam 1.25%. Milan fell 1.43%, while Portugal posted the most timid drop in the block (0.76%).

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