The sports carmaker Lotus has unveiled plans to increase its output more than tenfold, in a boost to the UK’s post-Brexit automotive sector that will lead to new electric models being built in Norfolk. Lotus, majority-owned by China’s Geely since 2017, said it would ramp up production at sites including its Hethel plant, near Norwich,… Continue reading Sports carmaker Lotus to ramp up production more than tenfold
Author: The Guardian Online News
Serious Fraud Office conducts raids over scheme by Buy2Let Cars owner
The Serious Fraud Office has made an arrest and raided two residential premises as part of an investigation into a company that operated a hire car investment scheme. The SFO is investigating the activities of Raedex Consortium, which runs a string of companies including Buy2Let Cars, PayGo Cars, Wheels4Sure and Rent2Own Cars. The SFO, which… Continue reading Serious Fraud Office conducts raids over scheme by Buy2Let Cars owner
UK electric car sales surge despite Covid lockdown
UK electric and hybrid car sales hit record levels in March, traditionally the biggest month of the year for motor dealers, as demand for greener vehicles surged despite overall trade remaining lower than before the pandemic. Sales of battery electric cars and plug-in hybrids accounted for a combined 13.9% of the market, up from 7.3%… Continue reading UK electric car sales surge despite Covid lockdown
Meet the Briton leading a Tesla rival who wants to save the planet
The Lucid Motors boss Peter Rawlinson is fluent in the language of the new breed of electric carmaker: he wants to save the planet and he wants to do it fast. The California carmaker is only starting production of its hotly anticipated first model in the second half of this year but it has quickly… Continue reading Meet the Briton leading a Tesla rival who wants to save the planet
VW China venture buys green credits from Tesla to meet local rules
A Volkswagen joint venture in China is buying green car credits from Tesla to help stay within local environmental rules, according to a Reuters report. The deal, the first of its kind to be reported between the two companies in China, highlights the scale of the task VW faces to transform its huge petrol carmaking… Continue reading VW China venture buys green credits from Tesla to meet local rules
Volkswagen admits ‘Voltswagen’ name change was a joke amid confusion
Volkswagen of America issued false statements this week saying it would change its brand name to “Voltswagen” as a way to stress its commitment to electric vehicles, only to reverse course on Tuesday and admit that the supposed name change was just a joke. Mark Gillies, a company spokesman, confirmed on Tuesday that the statement… Continue reading Volkswagen admits ‘Voltswagen’ name change was a joke amid confusion
UK online car seller Cazoo to float for $7bn on NYSE
British online car retailer Cazoo will make its stock market debut in New York though a special-purpose acquisition company (Spac), after agreeing to a merger deal that values the company at $7bn (£5bn). Cazoo is set to merge with Ajax I, led by the billionaire US investor Dan Och, making it the latest company to… Continue reading UK online car seller Cazoo to float for $7bn on NYSE
Ineos founder’s Land Rover rival faces launch delay due to Covid lockdowns
The Land Rover-rival being built by the billionaire Sir Jim Ratcliffe may be delayed by up to six months amid difficulties caused by the coronavirus pandemic. Ineos, the chemicals company founded by Ratcliffe, had planned to deliver the first of the new Grenadier vehicles in early 2022, but is now considering a new launch date… Continue reading Ineos founder’s Land Rover rival faces launch delay due to Covid lockdowns
General Motors was ‘un-Australian’ and treated dealers with disrespect when Holden closed
A Senate committee has called on Australia’s competition watchdog to fast-track its investigation into General Motors’ decision to kill off the iconic Holden brand and its “disappointing” treatment of local car dealers. The committee report, released on Thursday evening, follows a year-long inquiry into the circumstances surrounding the February 2020 decision to end the Holden… Continue reading General Motors was ‘un-Australian’ and treated dealers with disrespect when Holden closed
Why Japan’s carmaking heavyweights could be facing an electric shock
Japan’s traditional carmaking giants need to raise their game in the race to develop pure, battery-driven electric vehicles or risk being left behind by Chinese, American and European producers, analysts have warned. Despite dominating car production in Asia for decades, Japan’s big players have been slow to fully develop the battery-only technology that is now… Continue reading Why Japan’s carmaking heavyweights could be facing an electric shock