The first fully electric Mercedes car EQC is seen at a presentation in Stockholm, Sweden September 4, 2018. REUTERS/Esha Vaish
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BMW AG dodged a takeover attempt by Mercedes-Benz parent Daimler AG 60 years ago, and ever since the two luxury-car icons have been bitter rivals -- until recently.The Stoxx Europe 600 Automobiles & Parts Index has declined 26 percent this year, and both BMW and Daimler lowered 2018 profit targets, blaming trade tensions as well as rising expenses to develop vehicles that consumers may not even want.Daimler is adding a suite of 10 electric vehicles over the next four years, while BMW said it will offer 12 battery-only models by 2025 .BMW is jointly making the Z4 and Supra sports cars with Toyota Motor Corp. and working with Intel Corp. and others on driverless-car technology.Ironically, Fiat Chrysler lacks significant partnerships with other carmakers.Jaguar Land Rover and Volvo Cars are also exposed.
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