Automotive industry WTO tariffs could add 10% to car prices if deal is not agreed before 2021 New cars in a compound near Sheerness in Kent. Firms including Volkswagen and Honda are stockpiling cars and parts. Photograph: Gareth Fuller/PA Carmakers are bracing for the final Brexit deadline by moving cars and parts both ways across… Continue reading UK carmakers plead for clarity as they stockpile parts and cars for Brexit
Author: The Guardian Online News
UK electric vehicle maker Arrival to list on Nasdaq amid surging demand
Arrival, the UK-based electric van and bus startup, is to list on the Nasdaq stock exchange in New York, in a deal that is expected to value the company at more than £4bn. The manufacturer, based in Banbury, Oxfordshire, will raise $660m (£498m) in cash as it prepares for mass production of its first electric… Continue reading UK electric vehicle maker Arrival to list on Nasdaq amid surging demand
Boris Johnson announces 10-point green plan with 250,000 jobs
Boris Johnson has announced plans for the government’s self-styled green industrial revolution, bringing praise from environmental groups but also questions about the scale of new funding, and the planned expansion of nuclear and hydrogen power. In a move aimed at retaking the initiative after a politically turbulent few weeks, the prime minister said the 10-point… Continue reading Boris Johnson announces 10-point green plan with 250,000 jobs
UK regions compete to be site of ‘gigafactory’ for electric vehicles
UK news Government expected to unveil funding and plans for battery-making factory in near future Jaguar Land Rover is lobbying for a gigafactory to be sited in the West Midlands, near to its Castle Bromwich plant. Photograph: Tony Watson/Alamy The West Midlands, south Wales and the north-east of England are among the regions vying to… Continue reading UK regions compete to be site of ‘gigafactory’ for electric vehicles
Aston Martin hopes £1.3bn investment will revive its fortunes
Aston Martin Luxury carmaker to expand partnership with Mercedes and could mean fully electric models by 2026 Aston Martin’s chairman said the new deal would not result in the ‘James Bond’ car being built overseas. Photograph: Rebecca Naden/Reuters Aston Martin Lagonda has announced a “game-changing” £1.3bn refinancing package that will hand up to 20% of… Continue reading Aston Martin hopes £1.3bn investment will revive its fortunes
Car buyers face £1,900 additional cost in case of no-deal Brexit
Automotive industry Tariff hit for electric vehicles likely to be £2,800 per car, with risks to UK’s net zero plans The industry fears another damaging hit at a time when the pandemic has cost 600,000 sales compared with 2019. Photograph: Carl Court/Getty The car industry has said a no-deal Brexit will add thousands of pounds… Continue reading Car buyers face £1,900 additional cost in case of no-deal Brexit
UK new car sales slide to lowest September level this century
Automotive industry Demand for electric vehicles rises but sales of traditional cars fall despite new number plate Honda for sale on the forecourt of a car dealer in Bristol Photograph: Matt Cardy/Getty Images Demand for new cars in the UK slumped to the lowest level in 21 years for the month of September, traditionally a… Continue reading UK new car sales slide to lowest September level this century
State subsidies for company cars top €32bn in UK and EU
Automotive industry UK alone spends €5.7bn and Germany €12bn but analysis finds subsidies often go towards most polluting fleet vehicles Hundreds of Honda cars and SUVs await export at Southampton docks. Photograph: PBWPIX/Alamy Stock Photo UK and European governments give companies subsidies worth €32bn (£29bn) a year towards buying cars, the vast majority of which… Continue reading State subsidies for company cars top €32bn in UK and EU
UK carmakers face higher tariffs as EU rejects component plea
British car manufacturers could face higher export tariffs with or without a Brexit deal after the EU rejected an argument that components from Japan used on UK assembly lines should be considered British. The car industry has maintained that parts for cars, vans and trucks that have been sourced in non-EU countries should be deemed… Continue reading UK carmakers face higher tariffs as EU rejects component plea
California governor orders ban on sale of gas-only cars within 15 years
California Gavin Newsom says ‘we can’t continue down this path’ as state grapples with historic fires and record temperatures An order by California’s governor would ban the sale of gas-only cars within 15 years. Photograph: David McNew/Getty Images California’s governor signed an executive order on Wednesday that would ban the sale of gas-only cars within… Continue reading California governor orders ban on sale of gas-only cars within 15 years