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The White House has invited the CEOs of German car makers BMW (BMWYY), Daimler (DDAIF), and Volkswagen (VLKAY) for discussions in Washington as European and U.S. government officials attempt to negotiate a new trade pact, Bloomberg reports, citing people familiar with the matter. U.S. president Donald Trump tentatively plans to meet with the executives after the November 22 Thanksgiving holiday, the report says. The CEOs are consulting with Berlin prior to their meeting with Trump officials, the report notes. Reference Link

BMW (BMWYY), Vodafone (VOD), and Ericsson (ERIC) once more attempted to persuade the European Commission to clear the path for the use of 5G technology in cars, concerned over the EU executive's preference for a wifi-based technology being pursued by their competitors, Reuters reports. The companies said that it was essential for the industry to have the freedom to use a range of technologies for internet-connected cars, the report notes. "It's concerning that just two years later the principle of technological neutrality appears to be no longer adhered to by the European Commission," they said in a joint statement, according to Reuters. Reference Link

Investors in European automakers like Volkswagen (VLKAY), Daimler (DDAIF) and BMW (BMWYY) are facing months of volatility after the U.S. circulate a draft report on tariffs, which is a part of the U.S. Commerce Department's probe into whether to implement levies on automobiles, vans and light trucks, Bloomberg reports. European carmakers, despite exemptions from U.S. and Mexican factories, will be impacted the most, alongside imports from Japan and South Korea and the European Commission said in June the planned U.S. tariffs would affect autos and parts worth EUR58B, or $65B, adding roughly EUR10,000 to the price of a European-built vehicle.Reference Link

BMW is held talks with banks as it weighs a sale of its credit-card portfolio, Bloomberg reports, citing people familiar with the matter. The car maker is aiming to take advantage of aggressive bidding among banks for co-brand card deals in recent years, the report notes. Reference Link