Bayerische Motoren Werke AG – Michmutters
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Business

Nurburgring lap record for Porsche Taycan Turbo

The German manufacturer says the Porsche Taycan Turbo S completed a lap of the 20.8 kilometer track in 7min 33.3sec, making it the fastest electric car in production.

That effort, recorded by development driver Lars Kern, undercuts the 7min 35.sec mark of Tesla’s Model S Plaid by more than two seconds.

The 2023 model year Taycan Turbo S benefited from a new performance kit including lightweight 21-inch wheels, high-performance Pirelli P-Zero Corsa tyres, and a software update allowing its electronically controlled suspension to make the most of the new rubber.

The 560kW sedan reached 268km/h during the lap, benefiting from a two-speed transmission that gives it a performance advantage over most electric cars.

But it fell short of the fastest times set by petrol-powered V8 sedans, including the 7min 29.8sec mark of Porsche’s V8-powered Panamera, the 7min 29.5sec of BMW’s latest M5, or the 7min 27.8s of Mercedes-AMG’s GT 63 S .

While the Porsche runs out of puff just shy of 270km/h, the nine-speed transmission in Mercedes’ heavy hitter allows it to reach 298km/h on the Nurburgring, or 315km/h if you can find a longer straight.

Expect the electric car performance battle to heat up in the near future, powered by fresh metal such as the Tesla Roadster, Lotus Evija, Pininfarina Battista and Porsche’s electric successor to the Cayman GT4.

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Business

MG7 luxury sedan will take on Audi A7, BMW Gran Coupe

MG plans to take its brand up-market with a prestige sedan to accompany its upcoming sports car.

Not content with taking on the likes of Mazda’s MX-5 and the Porsche Boxster with its new convertible based on the MG Cyberster concept, the brand has its eye on high-end European machines.

A new “Black Label” sub-brand will offer more luxurious models than MG’s usual fare.

While it won’t be a brand in its own right, like Toyota’s Lexus or Hyundai’s Genesis, MG’s Black Label will represent a step beyond its current range of affordable hatchbacks and SUVs.

Chinese customers will get first dibs on the new range, starting with the MG7 sedan revealed this week.

Wearing a four-door coupe body similar to Audi’s A7 or BMW’s Gran Coupes, the MG7’s sophisticated shape takes the brand into new territory.

We haven’t seen the interior but you can bet it will build on the high-tech features found in MG’s regular line-up – delivering crisp digital displays, impressive driver aids, multi-coloured ambient lighting and much more.

A duck-tail bootlid transforms into a pop-up rear spoiler similar to Porsche’s Panamera and enormous quad exhaust tips suggest power could come from a muscular petrol engine.

Technical details surrounding the car are slim.

Car News China suggests the model will have a four-cylinder turbo engine with 189kW and 405Nm, positioning the MG7 closer to Volkswagen’s Arteon than Audi’s RS7.

MG’s Australian arm intends to ramp up its premium appeal with the new sports car, but the first Black Label machine is unlikely to make a local debut.

A spokesman for the brand said “we are constantly listening to the needs and wants of our customers, but at this stage, we will not be bringing the MG7 into the Australian or NZ market”.

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US

Port of New York and New Jersey battles a shipping container pile-up

The Port of New York and New Jersey announced new tariffs on Tuesday related to empty containers and export volume in its battle to decrease container congestion. Both loaded and empty containers that are considered long-dwelling will be subject to a quarterly “container imbalance fee.” The tariff will be effective as of September 1, pending the mandatory federal 30-day notice.

The Port of New York and New Jersey is the largest port on the East Coast and the third-largest in the nation. Products that were recently processed through customs in July range from BMW motorcycles and dresses for David’s Bridal out of China, parts for Plug Power, a gas cooker for Tractor Supply, and a “12 Days of Beauty Box” for Target.

But just like other ports, the Port of New York and New Jersey has processed record volumes of import containers during the pandemic and has seen these import containers wait longer at the terminals. These containers have clogged land capacity and slowed down port productivity. As a result, more vessels wait at anchor.

Under the new tariff, ocean carriers who do not move empty containers out of the port will be charged $100 per container. The port’s new container export levels mandate that export volumes must equal or exceed 110% of an ocean carrier’s incoming container volume during the same period. If that benchmark is not met, the ocean carrier will be assessed a fee of $100 per container for failing to hit this benchmark. Both loaded and empty containers are included in the import container count. Rail volume is excluded.

Record cargo volume, excess containers

Surrounding land is also being used by the port to make room for the excess containers. The port created temporary storage for both empty containers and long-dwelling import containers in a 12-acre lot within the Port Newark and the Elizabeth-Port Authority Marine Terminal. The port is also in negotiations and researching additional areas that could be used for storage space.

“As we continue to manage record cargo volume and work with our tenants and port stakeholders for the removal of empty containers in a timely manner, we call on all industry stakeholders to find sustainable, long-term solutions to an industrywide problem affecting many US ports ,” said Port Authority Chairman Kevin O’Toole.

The decrease in productivity can be seen in the increased travel time of vessels. The increased anchorage times can be tracked in the vessel transit time from China to the Port of New York and New Jersey.

“The Port of New York and New Jersey is facing record import volumes, leading to empty containers accumulating in and around the port complex that are now affecting the regional supply chain that is already under stress from various sources across the country,” said Bethann Rooney , director of the Port Department at the Port Authority of New York and New Jersey. “We emphatically encourage ocean carriers to step up their efforts to evacuate empty containers quicker and at higher volumes to free up much needed capacity for arriving imports in order to keep commerce moving through the port and the region.”

European goods and German port stresses

East Coast ports like New York receive a lot of goods from Europe, where trade has been severely impacted by ongoing labor strife at both ports and rails. Exports bound for the United States are at least two months late.

Among the thousands of containers that were imported into the Port of New York and New Jersey in the month of July, according to a review of customs data using ImportGenius, there was wine from Spain, pasta, Prosecco and Giorgio Armani suits from Italy, and furniture from France.

Planet, a new contributor to the CNBC Supply Chain Heat Map, captured photos to show the impact of the rail strikes that have left a crush of containers at the rail terminals in Hamburg. Because of extensive cloud cover in July, the comparisons are between May 15, 2022 and June 11, 2022. The buildup of containers can clearly be seen. With the labor strife continuing, the number of containers has grown, according to logistics experts, and that is slowing down trade.

Hamburg rail terminal comparisons

Planet

“The rail situation in the Ports of Germany, especially in Hamburg, remains stressed and the congestion is increasing,” said Andreas Braun, Europe, Middle East, and Africa ocean product director of Crane Worldwide Logistics.

Rail operators constantly miss their normal delivery and pick up windows, and can still not deliver laden containers to the terminal earlier than seven days prior to loading. Due to the summer passenger schedule, container train operators have to give right of way to the increased amount of passenger trains, which additionally contributes to the delays.

“At least one week of delays is normal by now however, that can go up to two weeks and the constant threat that you miss the vessel,” Braun said.

The CNBC Supply Chain Heat Map data providers are artificial intelligence and predictive analytics company Everstream Analytics; global freight booking platform Freightos, creator of the Freightos Baltic Dry Index; logistics provider OL USA; supply chain intelligence platform FreightWaves; supply chain platform Blume Global; third-party logistics provider Orient Star Group; marine analytics firm MarineTraffic; maritime visibility data company Project44; maritime transport data company MDS Transmodal UK; ocean and air freight rate benchmarking and market analytics platform Xeneta; leading provider of research and analysis Sea-Intelligence ApS; Crane Worldwide Logistics; and air, DHL Global Forwarding; freight logistics provider Seko Logistics; and Planet, provider of global, daily satellite imagery and geospatial solutions.

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Categories
Sports

Greg Norman’s LIV Tour forces PGA Tour’s $590m prizemoney first

Faced with a growing challenge from the Saudi-backed LIV Golf Series, the US PGA Tour announced a 2022-23 season schedule on Monday offering a record $AUD590 million in prize money.

The PGA increased the prize money at eight invitational tournaments, with The Players Championship set to pay out $35m, and will offer $206m in bonus money, including $107m for the FedEx Cup playoffs, which will be trimmed to 70 players from the current 125.

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The move comes as the LIV Golf Series — spearheaded by Aussie legend Greg Norman — has offered the highest purses in history to lure big-name talent from the PGA to its upstart tour, which is set to rise from eight events in 2022 to 14 in 2023.

LIV Golf has drawn protests and claims of “sportwashing” from critics citing Saudi human rights issues but such stars as Dustin Johnson, Phil Mickelson, Henrik Stenson, Bryson DeChambeau, Paul Casey and Patrick Reed have jumped to the rebel series that debuted in June.

The US PGA, which will return to a season that coincides with the calendar year starting in 2024, tightened its playoffs and boosted select purses after comments from fans, PGA commissioner Jay Monahan said.

“The overwhelming sentiment was they wanted more consequences for both the regular season and the playoffs and to further strengthen events that traditionally feature top players competing head-to-head,” Monahan said. “We feel strongly we’ve accomplished all of these objectives.”

The 2022-23 PGA season will have 47 tournaments, including three playoff events next August with a field of 70 at the St. Jude Championship in Memphis, 50 at the BMW Championship in Chicago and the top 30 in points advancing to the season-ending Tour Championship at East Lake in Atlanta.

After the season ends, late 2023 will feature events for those outside the top 70 to earn status for the 2024 PGA campaign plus a series of “international events” featuring the PGA top 50 in a limited field, no-cut format. No other details were revealed about those events.

The St. Jude and BMW will see a jump in prize money from $21 million to $28 million.

The January Tournament of Champions will see its purse rise from $12 million to $21 million next year. It will become the lead-off event of the PGA season when the schedule changes in 2024.

Four events will see prize money jump from $17 million to $28 million — the Genesis Invitational in February hosted by Tiger Woods, the Arnold Palmer Invitational at Bay Hill in March, the Jack Nicklaus-hosted Memorial in June and the WGC Match Play in March.

Prize money will jump from $28 million to $35 million for The Players Championship in March.

The Scottish Open, Barbasol Championship and Barracuda Championship will remain co-sanctioned with the DP World Tour.

The 2022-23 campaign will begin on September 15-18 with the Fortinet Championship at Napa, California, with the Presidents Cup the following week at Quail Hollow.

The CJ Cup has been moved from South Korea to South Carolina and will be played in October with the Bermuda Championship the following week.

The Rocket Mortgage Classic, won Sunday by Tony Finau, will start June 29 next year while the 3M Open moves to the end of July.

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Categories
Business

Cadillac Lyriq: review, pricing, specifications

This is the car that will spearhead a new assault on world markets for the famed Cadillac brand.

The Lyriq electric SUV will form the foundation for a Cadillac return to Europe and other markets – potentially including Australia.

A mid-sized SUV similar in size to BMW’s X3 and Audi’s Q5, the Lyriq’s a handsome looking thing in the metal. It has a long bonnet, muscular haunches and daring detail work on the headlamps, grill and tail lamps.

The door handles fold flush with the door panels – much like Tesla’s Model Y – and the cabin is dominated by a huge curved digital screen that houses a driver display and center touchscreen.

Bright chrome highlights lift the cabin and there’s an abundance of storage space, thanks to the fact that there’s no transmission tunnel running through the center of the vehicle.

Second-row passengers will find more leg and knee room than they would in a mid-size German luxury SUV, while the read load area is a decent size.

It’s on the road that the Lyriq impresses, though.

A 250kW rear-mounted electric motor moves things along swiftly and silently, although there’s not the brutal launch off the line that you’d feel in a Tesla Model Y.

Once you’re on the move, though, there’s an impressive surge at most speeds when you floor the throttle.

The venue for our brief test drive was GM’s huge Milford Proving Ground outside of Detroit and we put the Lyriq through its paces on a variety of surfaces designed to replicate public roads. That included large bumps and dips, a simulated rail crossing and some sweeping, high-speed corners.

The Cadillac impressed with its composure, setting well after larger bumps and sitting flat through corners, even when confronted with broken, corrugated bitumen.

Precise steering and reassuring grip add to the driving enjoyment, although you can feel its considerable weight shift when it is asked to change direction in a hurry.

Cadillac claims the Lyriq is good for a range of 500km, although that may come down once the more realistic WLTP standard for range is applied.

In the US, the Lyriq starts from $62,990 in rear-drive form. A dual-motor version will launch early next year with roughly 370kW of power for just $2000 extra.

GM won’t confirm whether the Lyriq will be available in right-hand-drive but it would appear likely, as it seems the most logical fit for a Cadillac rebirth in European and international markets.

The president of GM International, Shilpin Amin, says designing vehicles for either left or right-hand drive is “much more simple” on an electric vehicle platform.

“Because of how efficient it is to build it upfront with left and right-hand-drive markets in mind no longer do you need the volumes to justify it. You can actually do it pretty efficiently at all volumes for markets around the world,” he says.

That is encouraging news for Aussie Cadillac fans.

Christian Soemmer, managing director of GM strategic markets, alliances and distributors, says the brand has “ambitious goals” in overseas markets, including Australia.

“We want to grow our international scale. Australia and New Zealand is an absolute key pillar of that region. We are always looking into more opportunities,” he says.

Cadillac will lead GM’s transformation to a leading EV maker, taking the fight to Tesla.

It will not launch any new petrol vehicles after 2026 and will become EV-only by 2030.

Cadillac interior design manager Tristan Murphy said the shift in focus to electric cars gave the design department an opportunity to reimagine the once-storied brand.

“I think it was a good opportunity for us to take a step back and say OK as we move forward into the future what do we want Cadillac to be? It was a chance to reinvent it,” he says

The design team was also mindful of its duty to honor the heritage of the badge.

“I don’t want to say it’s retro by any means but there are some retro cues because there are some things in our history that we want to hold on to. There are these little winks and nods at our history because that is something that an EV Start-up company doesn’t have,” he says.

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