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
Author: The Guardian Online News
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
Elon Musk’s Tesla lobbied UK to raise tax on petrol and diesel
Elon Musk’s Tesla lobbied the UK government to raise taxes on petrol and diesel cars in order to fund bigger subsidies for electric vehicles, alongside a ban on hybrids. The US electric car pioneer called for a rise in fuel duty and a charge on petrol and diesel car purchases to pay for grants and… Continue reading Elon Musk’s Tesla lobbied UK to raise tax on petrol and diesel
Car industry lobbied UK government to delay ban on petrol and diesel cars
Britain’s biggest car manufacturers lobbied the government to delay a ban on petrol and diesel cars by warning that sales would plunge and jobs would be at risk from accelerating the transition to electric vehicles, the Guardian can reveal. The government announced in November that it would move forward a ban on the sale of… Continue reading Car industry lobbied UK government to delay ban on petrol and diesel cars
UK car industry reports worst February sales since 1959
The car industry has had its worst February for sales since 1959 as dealerships across the UK remained closed through national lockdowns. British consumers bought only 51,300 cars in the month, a 35.5% year-on-year decline, according to the Society of Motor Manufacturers and Traders (SMMT). The lobby group also cut its new car sales forecast… Continue reading UK car industry reports worst February sales since 1959
Worst UK February car sales since 1959; Deliveroo picks London for float – business live
Rolling coverage of the latest economic and financial news Latest: UK car sales slump again in lockdown Introduction: Bond yield worries are back Deliveroo picks London for IPO LIVE Updated The City of London this week. Photograph: Hollie Adams/Getty Images Key events Show 6.23am EST 06:23 UK competition regulators investigates Apple over App Store complaints… Continue reading Worst UK February car sales since 1959; Deliveroo picks London for float – business live