Data from BudgIT has shown that for every ₦100 shared to the Osun State government as revenue allocation from the federation account, ₦91 is deducted to service debt. The development, according to analysts, indicates how the state’s fiscal crisis has moved from bad to worse.
BudgIT said that of the ₦6.44 billion Osun received as revenue from FAAC in January through March, ₦5.87 billion of the amount went to servicing its debt. The development is coming to fore even as the state has been grappling with years of backlogs of unpaid salaries owing to the failure of the government to judiciously harness the revenue potential of huge human and capital resources.
The state may even be on the brink of seeking life support, analysts have said. Osun also has the highest deduction done ever on any of the 36 states as a percentage of federal allocations, showing how terrible the fiscal situation of the state is at present.
A 91% federal allocation deducted in servicing the states debt profile would leave the state with only about 9% of the revenue to be used as expenditure on health, education and other financial obligations for its over 4.6 million people, according to BusinessDay’s estimate.
Osun is an extreme expression of the fact that most states of the country are technically insolvent and cannot meet their obligations. This burden on the state’s purse could have been a bit lighter but for the government’s inability to look inward and grow its stream of internally generated revenues.
As at March 2020, Osun had an outstanding domestic debt of ₦137.3 billion. Asides Lagos and some oil-producing states (Akwa Ibom, Bayelsa, Delta, Imo and Rivers), only a handful of other states (such as Ogun) have as much outstanding debt. A look at 2019 full-year internally generated revenues shows that it only generated ₦17.9 billion (1.34% of total and 19th highest nationally).
It means that Osun State’s IGR only covers 7% of the domestic debt owed (one of the worst ratios in the country). In light of the recent economic crisis resulting from the coronavirus induced lockdown, we can expect that all states will experience a significant decline in IGR, an indication that 2020 will be a difficult year for states like Osun to fund social programmes.
Unfortunately, the Federal Government is also in dire straits and is unable to help them with bailouts this time. This explains the current desperate drive for extortionary revenue generation from many states and the Federal Government. Of course, such measures will be counterproductive as they will cause businesses to shrink back. Governments need to ruthlessly cut their costs and take a view to enable businesses as opposed to extorting them.
It’s been about a week since you could have noticed a new feature on Instagram called Reels. Those short videos feature a little video camera icon in the lower-left corner. If you want to give the new Instagram format a try and test it out for yourself, here is how to use Reels on your Instagram.
1. What Are Instagram Reels
In many ways, the functionality of Instagram Reels closely resembles that of TikTok videos. Typically, Reels are 15-second entertaining videos that can be set to music. Like on TikTok, you can combine several 15-second clips into a longer video. Like on TikTok, you can set your Reel to original music, pick a track from a catalogue, or use the music from someone else’s Reel you are currently watching.
Courtesy of Instagram
The Instagram Reel feature is currently available in a little over 50 countries and is already being used by numerous Instagram influencers who are always eager to try a new format. With all the uncertainties surrounding TikTok and its potential ban in some countries, Reels is viewed as Instagram’s attempt to lure in the audience from TikTok.
2. How to make an Instagram Reel
1. Download the latest version of the Instagram app on iOS or Android, and open the app.
2. Swipe right to open the Instagram camera, or tap the camera icon in the top left corner.
3. At the bottom of the screen, tap Reels.
4. Tap the record button to film your Reel (the clip must last between 3 and 15 seconds).
5. On the left of the screen, you can explore Reel’s suite of editing tools, including adding audio, text or other effects. Augmented reality effects are an option, too.
6. Post your Reel to your Instagram page or story, or save the Reel to your drafts and keep working on it later.
If a Reel is saved in your drafts, you can find it in the Reels tab on your profile. You can also post your Reel to the Explore page, so any Instagram user can see it. Other Instagram users can like, comment on or save your Reel.
3. Add videos you’ve already filmed to Instagram Reels
If you have a video on your phone that you want to turn into a Reel, here’s how to do it:
1. Open the Instagram app.
2. Swipe right to open the Instagram camera.
3. Choose Reels at the bottom of the screen.
4. Swipe up to pull down your camera roll.
5. Select the video you want and use the trim option if needed.
6. Edit your video by adding audio, text or other effects.
7. Publish the video on your Instagram feed or story, or save it as a draft.
The Reels feature was first tested in India after TikTok was banned there. It was also tested in Brazil, France and Germany.
The whole world, including Nigeria, is trying to go cashless. As a result, POS machines are now appearing in every Nigerian area to make payments easy and safe. You can also expand your business with a POS machine, and here is how to do it.
1. What Is A POS Business?
POS, or Point of Sale machines, are now being used by more and more businesses. Their primary use is to accept payments for goods and services the customer purchases at a store, hence the name.
However, POS machines are also widely used for bank transfers, bill payments, recharging airtime, paying rent or taxes, and other financial needs that can be difficult to access in other ways in rural areas where banking is not yet developed enough. As a POS machine owner, you become a banking agent and you make money through service charges and commission from the bank you are cooperating with.
2. Who Can Start A POS Business?
The important thing to know about a POS business that you already need to be a business owner to qualify as a POS banking agent. The Central Bank of Nigeria has strict requirements for the applicants and you need to run a successful business for more than 12 months prior to the application. Typical businesses where you can open a POS service include stores, gas stations, food joints, offices, and pharmacies.
The location of your business means a lot for the success of your POS operation. The ideal place to start a POS business is an area that is underserviced by banks, does not have a lot of ATMs in close proximity, but does have a lot of foot traffic. That way, your POS spot can become the go-to place for people to make all kinds of payments, and the more people use your POS machine, the more money you will eventually make.
3. Choose Your Bank
Right now, every major Nigerian bank is prepared to work with individual businessmen as banking agents, but each bank has a list of requirements for the applicants. Plus, the Central Bank of Nigeria also regulates the work of banking agents and may have its own requirements for prospective agents. Ideally, you need to choose a bank that is relatively easy to get to, offers generous commissions for its agents, and doesn’t make it too hard for the applicants to join the POS business.
4. Complete Your Application
After you have asked your bank of choice for the requirements, it’s time to prepare for your application. Depending on the bank you are working with, the list of documents required for the application may differ, but the most commonly requested documents include:
National ID card, driver’s license, or another official means of identification
Evidence of business registration, e.g. a CAC certificate
Two current account references
At least ₦50,000 of working capital
Two passport photographs
Bank Verification Number
Tax Identification Number
5. Gather The Equipment
If the bank reviews your application and accepts you as a new banking agent, the bank will then supply you with all the necessary equipment and assist with its installation in the store. The POS equipment you will need includes:
POS machine
PIN keypad
Barcode scanner
Card reader
You may also need a separate mobile phone for POS operations, and if so, you will likely need to purchase it yourself.
6. Deliver The Services
When everything is ready and you are all set for rendering POS services, make sure to inform your customers, either with a personal announcement when they visit your store or by using ads outside of your shop or online. People will always patronize a POS business if it delivers services fast, is safe to work with, and does not charge exorbitant service charges. By keeping your charges affordable, you will attract a greater number of customers, who, at the end of the day, will give you a bigger profit.
The Nigerian equity market today (Friday) ended the trading week on a negative note, shedding 0.15% to reverse the previous day positive momentum. The downtrend was supported by profit-taking on some bellwether stocks like MTNN, ACCESS, WAPCO and 20 others.
However, the market breadth closed on a negative note, recording 23 losers as against 11 gainers.
In summary, the All-Share Index (ASI) decreased by 37.13 absolute points, representing a dip of 0.15% to close at 25,199.84 points. Similarly, the overall Market Capitalization size gained N19.37 billion, representing a contraction of 0.15% to close at N13.15 trillion
CILEASING emerged as the top gainer while NNFM emerged as the top loser.
The downturn was impacted by loses recorded in large and medium capitalized stocks, amongst which are; JAPAULOIL (-4.76%), FIDELITYBK (-4.76%), WAPIC (-2.94%), ACCESS (-1.54%), FBNH (-0.99%), WAPCO (-0.84%), FLOURMILL (-0.76%), MTNN (-0.42%) and ZENITHBANK (-0.30%).
MARKET STATISTICS
CAP
N13,145,789,551,693.03
One Day (ASI CHG)
-0.15%
Index
25,199.84
One Week (ASI CHG)
+0.63%
Volume
482,518,333
One Month (ASI CHG)
+4.43%
Value
N4,524,421,447.27
Six Months (ASI CHG)
-9.56%
Deals
3,897
52 Weeks (ASI CHG)
-6.95%
Gainers
11
Losers
23
Unchanged
60
Total
95
YTD
-6.12%
Source: NSE, GTI Research
FOREIGN EXCHANGE
The Naira at the official window today (Friday) closed at 381.00/$1, unchanged against the previous day’s position.
The Investors and Exporters (I&E) FX window opened at N386.33, traded high at N387.00, and eventually closed at N385.83, representing a 0.04% depreciation against the previous day’s closing position. A total of $41.48 million was transacted through the I&E window today.
MONEY MARKET
Overnight(O/N) rate today (Friday) closed at 19.80%, representing a 16.01% depreciation against the previous day’s closing position, while Open Buy-Back (OBB) rate closed at 17.60%, representing a 14.60% depreciation against the previous day’s position.
FIXED INCOME
Securities
Close
P. Close
Change
Bond
344.83
345.72
-0.89 bps
T.Bills
150.39
156.38
-5.99 bps
Note: BPS=> Basis Points
Source: FMDQ, GTI Research
NASD OTC MARKET
The NASD OTC market today (Friday) closed as the Unlisted Securities Index (USI) closed at 713.46, representing a 0.01% appreciation against the previous day’s closing position. Similarly, Market Capitalization gained N40 million, to closed at N524.08 billion, representing a 0.01% appreciation against the previous day’s closing position. However, the aggregate volume and value decreased by 97.96% and 92.83% respectively, as investors traded a total of 10,500 shares, worth N1.33 million in 2 deal.
Akwa Ibom State Governor Udom Emmanuel has restated his administration’s total commitment to decimating coronavirus in the State even as school resumes for exit classes. Governor Emmanuel stated this while taking delivery of five ambulance buses and One Hundred Thousand facemasks donated to the State by BUA Foundation at Government House, Uyo.
He said already, the effort of the State Government in fighting the pandemic has paid off hence there will not be any complacency on the part of the Government.
The Governor promised to deploy the ambulance buses to the different local government areas of the State in line with his administration’s policy of ensuring that every part of the State is well equipped for an eventual medical emergency.
The State Governor, @MrUdomEmmanuel receives 5 new emergency response ambulance and 100,000 pieces of facemasks from @BUAgroup in support of #COVID-19 fight. Dr. Aliyu Idi Hong handed over the items to the Governor at the Hilltop Mansion, Uyo, today.#COVID19Nigeriapic.twitter.com/nHQtBoZgrU
He also hinted that the facemasks will be sent to schools for students in exit classes who have resumed for examinations.
The Chairman, BUA Foundation, Abdul Rabiu represented by the Director of the Organization, Dr Aliyu Idi Hong commended Governor Udom Emmanuel for his passion and creativity in the fight against Covid-19, expressing shock at the revolution witnessed in the health sector as if the Governor had a premonition of the pandemic.
The former minister of health hinted that it was in appreciation of the governor’s effort that the organization decided to support him to completely win the fight against Covid-19. He said such a successful approach should be emulated by other governors so that Nigeria can totally be free of the disease.
Earlier on arrival, the BUA Foundation delegation was received by the Secretary to State Government, Dr Emmanuel Ekuwem, Commissioner for Health, Professor Augustine Umoh and his Information and Strategy counterpart, Comrade Ini Ememobong as well as the Honorary Special Adviser to the Governor on Health, Dr Dominic Ukpong.
Receiving the guests, the SSG hinted that Governor Udom Emmanuel is committed to sustaining a healthy population in the State which informs the massive investments in healthcare infrastructure in the State.
He noted that it was a great feat for the governor to accomplish all that in the sector even during interstate total lockdown induced by Covid-19, and that Governor Udom Emmanuel does not only lead the fight from the front but lived ahead of Covid-19.
The Commissioner for Economic Development and Ibom Deep Seaport, Mr. Akan Okon reechoed this when members of Nigeria Dredgers Association paid him a courtesy visit in his office today, Thursday.
Commissioner for Economic Development and Ibom Deep Seaport, Mr. Akan Okon | www.brandspurng.com
Mr. Okon who asserted that Akwa Ibom State has a lot in relation to local content assured that opportunities would be given to willing Nigerians to contribute to the realization of the Ibom Deep Seaport project.
He reminded citizens of Akwa Ibom of the need to upgrade themselves in various skills that will be relevant during the construction process of the port in order to stand the chance of being incorporated into the various available opportunities.
The Economic Development Commissioner noted that upon completion, the seaport will not only add value to the maritime sector but will also be of immense benefit to the entire country.
Mr Okon expressed optimism that the final approval for the kick-off of the project will be gotten soon, saying that the project is at the last stage of approval.
Mr. Akan Okon lauded the State Governor, Mr. Udom Emmanuel for creating an enabling environment for industries to thrive and ensuring that the seaport project is actualised.
He assured the dredgers of full inclusion in the construction process of the port.
Speaking on behalf of the Dredgers Association, the Chairman, Engr. Fortune Baridoma, explained that the Association is made up of season engineers from various fields of engineering who have come together to contribute their wealth of experiences towards the actualisation of the Ibom Deep Seaport project.
Engr. Baridoma commended the Akwa Ibom State Government for initiating the port project which will create employment opportunities for both indigenes and residents of the State as well as increase revenue of the country.
He pledged members support to the Ibom Deep Seaport project.
The total assets of the Nigeria banking sector rose to N47.82tn in the first six months of the year ended June 30, 2020.
This was disclosed during the last MPC meeting in his presentation by a member of the Monetary Policy Committee of the Central Bank of Nigeria, Dr Rafindadi Sanusi.
Report on the Banking System Stability Review, Sanusi said,“shows that despite the challenges posed by the COVID-19 lockdown, the banking system remained sound and resilient.”
The statement reads further:
“The industry capital adequacy ratio had increased to 15% in June 2020, which meets the industry prudential benchmark. The Non-performing loans ratio (NPL) has declined to 6.4% in June 2020 from 6.6% in April 2020 and 9.36% in the corresponding period of 2019.
Total Assets of the industry has continued to rise, standing at N47.82 trillion as at end-June 2020. Total banking industry credit to the economy has continued to increase even during the months of the lockdown, standing at N18.9 trillion as at end-June 2020.
Following the introduction of the LDR policy, total gross credit increased by N3.33 trillion between May 2019 and June 2020. Most of this increase in credit was extended to manufacturing, consumer credit, general commerce, ICT and Agriculture.”
Reports of the implementation of the CBN’s COVID-19 intervention shows significant progress in disbursements. Over 152.9 billion (or 15.2%) of the N1 trillion targeted support for the Manufacturing sector has been disbursed.
Out of the N100 billion Healthcare funds, N26.278 billion (or 26.3%) have been disbursed to fund 20 projects in the healthcare sector. Additional 16 applications totalling N67.413 billion were under processing.
Out of the N50 billion Targeted Credit Facility for Households and MSMEs, N49.195 billion have been disbursed to 91,736 beneficiaries, and N1.5 billion was disbursed to 169 beneficiaries under the Creative Industry Financing Initiative. Under AGSMEIS, N41.41billion has been disbursed to 11,613 beneficiaries.
Following the introduction of the Loan to Deposit Ratio policy, he said, total gross credit increased by N3.33tn between May 2019 and June 2020.
He said most of the increase in credit was extended to manufacturing, consumer credit, general commerce, ICT and agriculture.
On Tuesday, August 11, 2020, the Federal Competition and Consumer Protection Commission (FCCPC) became aware of representations appearing to show that a consumer, (and presumably others) purchased Laziz vegetable oil in sachets produced by Apple & Pears Ltd from their retail/storage location in Abuja. The representation suggested that the food products purchased were expired, even at the time of purchase.
Upon further investigation and reconnaissance, FCCPC discovered the company’s primary facility on the Lagos-Ibadan Express Way. Although locked, innocuous and without signage, the Commission also identified the specific location in Abuja where the company had stored its products.
Having sufficient initial evidence to proceed on enforcement, the Commission conducted investigations at both the Lagos-Ibadan Expressway, and Abuja locations. The Commission discovered unreasonably large and inexplicable inventories of Laziz salad cream, Laziz mayonnaise, Laziz vegetable oil in sachets, and Laziz Thousand Island salad cream. In addition, the Commission uncovered what appears to be unapproved and unsafe production, decanting, or repackaging of vegetable oil at the Abuja location.
The location in Abuja is currently under seal by the Commission and will remain so until the Commission and NAFDAC have confiscated the expired or unwholesome products, and are otherwise satisfied that Apples and Pears can, and will operate safely and legally.
The Commission commends the patriotism of those who bring these pieces of information to the Commission’s attention and encourages consumers to exercise their prerogatives and discretion to notify the Commission of conduct that is considered unsafe, illegal, or unsatisfactory.
Top model in the range of plug-in hybrids for the new BMW 5 Series featuring a straight six-cylinder petrol engine and four-wheel drive for a combination of maximum energy efficiency and dynamic performance. Extension of the BMW 5 Series to include five plug-in hybrid models.
With a ten-year plan for sustainability, the BMW Group is underscoring its commitment to the goals of the Paris climate agreement, the main focus being on the expansion of electric mobility. More than 500,000 electrified vehicles were sold by the end of 2019 and this figure will most likely rise to over 1 million by the end of 2021.
The new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/kmThe new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/km
he BMW 5 Series makes a substantial contribution towards achieving both past and future goals. With almost 50,000 units, BMW 5 Series plug-in hybrid models were the most successful electrified models in the BMW Group’s portfolio worldwide in 2019.
Extension of the BMW 5 Series to include five plug-in hybrid models. With an increase from two to five models featuring innovative plug-in hybrid drive by November 2020, the new BMW 5 Series offers the largest range of PHEVs within one BMW Group model series.
The new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/kmThe new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/km
The latest generation of BMW eDrive technology in conjunction with a four-cylinder petrol engine powers the BMW 530e plug-in hybrid models.
July 2020 saw the launch of the new BMW 530e Sedan (combined fuel consumption: 1.8 – 1.7 l/100 km; combined power consumption: 14.8 – 13.7 kWh/100 km; combined CO2 emissions: 42 – 39 g/km)* and the new BMW 530e xDrive Sedan (combined fuel consumption: 2.1 – 2.0 l/100 km; combined power consumption: 16.4 – 15.9 kWh/100 km; combined CO2 emissions: 49 – 46 g/km)*.
The new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/kmThe new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/km
In November 2020, the new BMW 530e Touring (combined fuel consumption: 2.1 – 1.9 l/100 km; combined power consumption: 15.9 – 14.9 kWh/100 km; combined CO2 emissions: 47 – 43 g/km)* and the new BMW 530e xDrive Touring (combined fuel consumption: 2.3 – 2.1 l/100 km; combined power consumption: 16.9 – 15.9 kWh/100 km; combined CO2 emissions: 52 – 49 g/km)* will be launched.
Top of the range model: The new BMW 545e xDrive Sedan.
The new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/kmThe new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/km
The new BMW 545e xDrive Sedan (combined fuel consumption: 2.4 – 2.1 l/100 km; combined power consumption: 16.3 – 15.3 kWh/100 km; combined CO2 emissions: 54 – 49 g/km)* features a synchronous electric motor delivering a maximum power output of 80 kW/109 hp, which is combined with an efficient straight six-cylinder petrol engine with BMW TwinPower Turbo Technology and 210 kW/286 hp, together with generating an overall system output of 290 kW/394 hp.
The new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/km
Power is distributed as required to all four wheels via 8-speed Steptronic transmission and intelligent BMW xDrive four-wheel drive. Maximum system torque is 600 Nm and top speed is reached at 250 km/h, whilst a speed of 140 km/h is possible in purely electric operation. From a standstill, the new BMW 545e xDrive accelerates to a speed of 100 km/h in just 4.7 seconds*. Thus, the BMW 545e xDrive clearly excels as the most dynamic of all BMW six-cylinder plug-in hybrids.
The new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/km
Thanks to intelligently controlled interaction between both drive systems, the new BMW 545e xDrive combines the best of two worlds. It facilitates not only purely electric driving in urban traffic and efficient commuting between home and the workplace, but also excels through dynamic performance and comfortable long-distance travel.
With a purely electric range of 54–57 kilometres* and average fuel consumption of 2.4–2.1 litres/100 km*, the new BMW 545e xDrive combines brand-typical driving dynamics and a high level of long-distance ride comfort with extremely efficient use of resources.
The new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/kmThe new BMW 545e xDrive Sedan (08/2020). fuel consumption combined: 2.4 – 2.1 l/100 km; power consumption combined: 15.3 – 16.3 kWh/100 km, CO2 emissions combined: 54 – 49 g/km
The latest plug-in hybrid model of the BMW 5 Series is fitted with a 400V lithium-ion battery which is positioned under the rear seat in order to save space. With a luggage volume of 410 litres, the transport capacity of the BMW 545e xDrive is only slightly smaller than of those model variants which are fitted with a conventional engine.
Different driving modes for maximum efficiency in accordance with the relevant driving style and situation.
In order to make optimum use of the combination of the straight six-cylinder engine featuring ultra-smooth running characteristics and eDrive technology in all driving situations, the BMW 545e xDrive supports the driver in numerous ways in terms of energy management. Various driving modes, some of which can be individualised in their operation, are simply selected by pressing the corresponding button on the centre console.
The HYBRID mode is the default setting, which ensures a balanced set-up and an intelligent interaction between the combustion engine and electric motor. It is also possible to select ELECTRIC mode as the standard-setting via the iDrive menu. In HYBRID mode, the electric motor is predominantly used.
The combustion engine only kicks in at higher speeds or under intensive load conditions. Since the system is linked to the navigation system, the interaction between the combustion engine and electric motor can be adapted more precisely to the route profile, topography and other driving situations in an anticipatory manner.
The electric range is increased by recuperation in overrun and braking phases. The energy supply saved in this way can then be used specifically for locally emission-free driving through urban areas and the arrival at the defined destination.
By pressing the HYBRID button twice, an efficiency-optimised version of this operating mode (HYBRID ECO PRO) is activated.
The coasting function on the overrun, among other things, contributes to a further reduction in consumption. The navigation and sensor data-supported control system also optimise the effectiveness of braking energy recovery.
When approaching a junction or a vehicle driving ahead, for example, infinitely adaptive recuperation can be put to particularly intensive use for the purpose of deceleration.
In SPORT mode, the electric motor supports the straight six-cylinder petrol engine when the overall system output of 290 kW/394 hp is fully needed. The set-up is designed for dynamic performance, and the gearshift program is sporty.
The ELECTRIC mode, on the other hand, enables locally purely emission-free driving up to 57 kilometres* and up to 140 km/h.
Special sounds for a special driving experience.
The new “ready to drive sound” produced by the BMW 545e xDrive is the result of the collaboration with composer Hans Zimmer and is designed to trigger joyful anticipation of the electric drive when the driver enters the vehicle and presses the Start/Stop button.
A distinctive sound created especially for electrified BMW models is used for the purpose of acoustic pedestrian protection, emitted via a speaker system. The sound design in the low-speed range of up to 30 km/h radiates a vibrant acoustic presence, though without impairing the acoustic comfort of vehicle occupants.
Likewise, via the vehicle audio system, “Active Sound Design” provides for an authentic and, in the SPORT mode of the Driving Experience Control Switch, for a particularly intense and pronounced sound.
Electric mobility meets digitalisation: Digital services for the plug-in hybrid models of the BMW 5 Series.
The BMW Group also offers innovative digital services that actively contribute to increasing the attractiveness of electric driving even further.
The BMW eDrive Zone service facilitates the automatic switching over of the drive system to purely electric mode when entering an urban low-emission zone and similar inner-city areas. In addition, locally emission-free driving with a BMW plug-in hybrid model is rewarded through the globally unique loyalty programme BMW Points.
Apart from filling stations, the navigation system also displays public charging points. When selecting a charging station, the driver is also provided with a forecast on its occupation status as well as recommendations for nearby restaurants or cafés. Moreover, BMW enables BMW Charging customers to reserve an enabled charging station for a limited period of time.
Furthermore, other products from BMW Charging also offer the possibility of comfortable charging at home and when out and about. These also comprise various versions of the Wallbox, including installation service, individual offers for the purchase of electricity and access to the world’s largest network of public charging stations comprising more than 155,000 charging points in Europe alone.
Preconditioning of the interior by means of auxiliary heating and air conditioning ensures optimised comfort during any season. If the preconditioning system is activated during the charging process after defining a specific departure time, the system also guarantees the full electric range in drive mode. The system is controlled either from inside the vehicle or conveniently via the My BMW app.
Amazon, Google and Baidu Retained First Three Places
Defying the impact of the pandemic, global sales of smart speakers in Q2 2020 rose to 30.0 million units, an increase of 6% compared to Q1, according to preliminary results from Strategy Analytics. Amazon retained first place with a share of 21.6%, followed by Google (17.1%) and Baidu (16.7%). Chinese vendors recovered from a slow Q1, which was affected by pandemic-related issues in the Chinese market.
Most US players, however, suffered from slower consumer demand in Q2 and saw sales declines. Strategy Analytics is predicting a stronger Q3 as more economies begin to recover, and global sales are on track to reach 161 million units for the full year.
David Watkins, Director at Strategy Analytics, commented: “The pandemic continues to affect sales patterns around the world. Q2 demand in Asia-Pacific recovered from the drama of lockdown in Q1, but North American and European sales fell slightly quarter on quarter as those economies went into reverse. We are optimistic that recovery in these regions will mirror what we have seen in China and that the underlying popularity of smart speakers will propel the market to a positive outcome for the rest of the year.”
David Mercer, VP, Media and Interactive Home, added: “Smart speakers have not suffered as badly as major segments like smartphones, and Q1 supply issues are now largely resolved. Vendors should nevertheless take particular care with brand messaging as our research points to clear evidence that consumers are switching brands based on how companies respond to the pandemic.”
Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions.
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