Australia may make buy now pay later (BNPL) providers follow responsible lending laws, including mandatory background checks of borrowers, a government paper published on Monday said, pushing the sector closer to full regulation. Consumer advocates fear lenders have outgrown borrowing laws and “the rapid growth of the BNPL industry may be contributing to poor consumer… Continue reading Australia mulls credit card laws to regulate BNPL lenders
Category: Automotive
Stonepeak cuts first Australian deal with $732m port purchase
US investment group Stonepeak said on Monday it would make its first Australian purchase by agreeing to buy GeelongPort, which sources said was worth A$1.1 billion ($732 million). Stonepeak will partner with Australian industry superannuation Spirit Super for the deal which is expected to be approved by regulators in the first quarter of 2023. The… Continue reading Stonepeak cuts first Australian deal with $732m port purchase
Xiaomi-backed Chinese EV battery maker SVOLT files for $2.1b STAR Market IPO
SVOLT Energy Technology Co Ltd, a Chinese electric vehicle (EV) battery maker that counts Xiaomi Corp and IDG Capital among its investors, has filed for an initial public offering (IPO) to raise as much as 15 billion yuan ($2.1 billion) on Shanghai’s Nasdaq-style STAR Market. SVOLT, a spinoff from Chinese automaker Great Wall Motors, filed… Continue reading Xiaomi-backed Chinese EV battery maker SVOLT files for $2.1b STAR Market IPO
Stellantis boss calls for tariffs on Chinese EVs as he warns of consequences of unfair advantage – Car Dealer Magazine – Car Dealer Magazine
Carlos Tavares wants tariffs imposed on Chinese EV makers to protect European manufacturing. The Stellantis boss warned that the West’s ‘naive and dogmatic’ rules aimed at encouraging people to make the switch from petrol and diesel to electric vehicles were handing Chinese manufacturers a competitive advantage. That’s because there are no restrictions on the Chinese selling… Continue reading Stellantis boss calls for tariffs on Chinese EVs as he warns of consequences of unfair advantage – Car Dealer Magazine – Car Dealer Magazine
EU’s Breton pushes continued need for combustion engines – Automotive News Europe
Europe’s push for its auto industry to go all-electric poses risks to employment and vehicle affordability, EU Internal Market Commissioner Thierry Breton said, urging automakers to keep making combustion cars. “I respect the fact that some are deciding to accelerate toward a 100 percent electric offer, but I also encourage manufacturers to continue to produce… Continue reading EU’s Breton pushes continued need for combustion engines – Automotive News Europe
Tavares says Europe’s EV drive comes with risks – Automotive News Europe
PARIS –The European Commission’s strategy to phase out combustion engines in favor of electric vehicles is a political choice that carries environmental and social risks, Stellantis CEO Carlos Tavares said in an interview with European newspapers. Since merging Fiat Chrysler and Peugeot-maker PSA Group, Tavares has mapped out a 30 billion euro ($34 billion) electrification… Continue reading Tavares says Europe’s EV drive comes with risks – Automotive News Europe
Share slump hits EV juniors – GoAutoNews Premium
SIX of the world’s electric vehicle players have lost a combined $US1 trillion ($A1.48t) in market capitalisation in the past 12 months in a trend that could mark the beginning of realistic company valuations and changing shareholder perceptions of EV manufacturers. The six companies – Tesla, Nio, Xpeng, Lucid, BYD and Rivian – are pure… Continue reading Share slump hits EV juniors – GoAutoNews Premium
Saera Electric to launch electric 2-wheeler in next FY
Saera Electric, which currently manufactures the Mayuri brand of e-rickshaws, also wants to launch electric four-wheelers for commercial operations at a later date. Saera Electric, which manufactures e-rickshaws out of American bike maker Harley-Davidson’s former assembly facility in India, is readying an electric two-wheeler for launch in the next financial year. The company had acquired… Continue reading Saera Electric to launch electric 2-wheeler in next FY
Greater Chennai Corporation studies possibility of setting up common e-vehicle charging stations
CHENNAI: The Greater Chennai Corporation will soon facilitate e-vehicle manufacturers to set up universal charging stations across the city. An expert team, with Tangedco as the nodal agency, has been formed by the state government to study feasibility to bring universal charging stations for e-vehicles, all at one spot. Presently, each of the car companies… Continue reading Greater Chennai Corporation studies possibility of setting up common e-vehicle charging stations
NKDA to operate 12 fast EV charging stns in New Town
The NKDA will also reserve space for electric car parking and charging units at the multi-level parking lots, which the authorities are building in New Town. Kolkata: The New Town Kolkata Development Authority (NKDA) will install and operate 12 fast electric vehicle charging stations across the township. Charging at these stations will be cheaper than… Continue reading NKDA to operate 12 fast EV charging stns in New Town