Hyundai Motor Company introduced its fuel cell electric vehicle, which is the signature vehicle for eco-friendly vehicles, called ‘NEXO’ in South Korea for the first time. It can drive up to 609km with single charge and it can go 107km more than Toyota’s ‘Mirai (total range: 502km)’, which is currently number one in global sales.Hyundai… Continue reading Hyundai Motor Company Introduces Its Fuel Cell Electric Vehicle ‘NEXO’ for the First Time.
Tag: Manufacturing
Porsche doubles e-mobility investment to over six billion euros by 2022
ATLANTA, Feb. 5, 2018 /PRNewswire/ — Porsche has been putting together an unprecedented future development plan: By 2022, the sports car manufacturer will invest more than six billion euros in e-mobility, focusing on both plug-in hybrids and purely electric vehicles. The decision was made by the Porsche AG Supervisory Board at its most recent meeting. “We… Continue reading Porsche doubles e-mobility investment to over six billion euros by 2022
GM races to build a formula for profitable electric cars
By Paul Lienert and Joseph White DETROIT (Reuters) – General Motors Co Chief Executive Mary Barra has made a bold promise to investors that the Detroit automaker will make money selling electric cars by 2021. What Barra has not explained in detail is how GM intends to do what, so far, no major automaker has… Continue reading GM races to build a formula for profitable electric cars
Toyota’s Way Changed the World’s Factories. Now the Retool
Over decades, Toyota Motor Corp. built a corporate culture that was the envy of the manufacturing world. Now the auto industry’s most-emulated company is overhauling the way it brings its vaunted production system to every corner of the business. The automaker last month created a single group, staffed with 200 employees, to manage the Toyota Production System,… Continue reading Toyota’s Way Changed the World’s Factories. Now the Retool
Continental and NVIDIA Partner to Enable Worldwide Production of Artificial Intelligence for Self-Driving Cars
Continental CEO Dr. Degenhart: “Together with NVIDIA, we will deliver the complete AI self-driving solution from the cloud to the car.” The partnership will create a sensing, planning and acting supercomputer on wheels 2021 introduction for Continental self-driving vehicle systems based on NVIDIA DRIVE AI Car computer and Continental sensors Auburn Hills, Mich., February 5,… Continue reading Continental and NVIDIA Partner to Enable Worldwide Production of Artificial Intelligence for Self-Driving Cars
Fiat Chrysler to cut Mirafiori plant production by 60 pct until July – union
Fiat Chrysler to cut Mirafiori plant production by 60 pct until July – union Ward’s AutoFull coverage
Nissan will invest 7.65 billion euros in China
BEIJING (Reuters) – Nissan Motor plans to invest 60 billion yuan (7.65 billion euros) in China over the next five years with its local partner, with the goal of moving to the top three main players in the world’s largest car market. For a long time confined to the background in China, Nissan and Dongfeng… Continue reading Nissan will invest 7.65 billion euros in China
UK new car registrations decline in January
UK new car market declines in January – down -6.3%, as 163,615 cars leave showrooms. Demand for petrol and alternatively fuelled vehicles rises, but fails to offset fall in new diesel registrations. SUVs only vehicle segment to show growth, with 6.6% uplift leading to record market share. The UK new car market declined in the… Continue reading UK new car registrations decline in January
Tesla Model 3 Slammed By Engineering Firm For Manufacturing Flaws– “Like A Kia In The 90s”
Tesla’s Model 3 received some extremely harsh criticism from a Detroit engineering firm that takes automobiles apart and reviews them. CEO of the company, Sandy Munro, says that the new mass-market electric vehicle has so many production flaws that it’s “like a Kia in the 90s.” “I don’t understand how it got to this point.… Continue reading Tesla Model 3 Slammed By Engineering Firm For Manufacturing Flaws– “Like A Kia In The 90s”
Asset finance market records seventh consecutive year of growth
9 February 2018
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in 2017 – the seventh consecutive year of growth. New business in December 2017 increased by 4% compared with the same month in 2016.
The plant and machinery finance and commercial vehicle finance sectors reported new business up in 2017 by 12% and 1% respectively, compared with 2016, while new finance for business equipment was up by 7% over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The asset finance industry reported a record level of new business of almost £32 billion in 2017, despite challenging economic conditions and subdued business investment growth.
“The latest figures also reveal that asset finance is a vital source of funding for SMEs when investing in business equipment and machinery. Of the total asset finance new business in 2017, £18.6 billion went to SMEs – 12% higher than in 2016.”
Dec 2017
% change on prev. year
3 months to Dec
2017
% change on prev. year
12 months to Dec
2017
% change on prev. year
Total FLA asset finance (£m)
2,632
+4
7,861
+5
31,769
+5
Total excluding high value (£m)
2,483
-1
7,695
+5
30,752
+6
Data Extracts:
By asset:
Plant and machinery finance (£m)
512
+1
1,515
+5
6,617
+12
Commercial vehicle finance (£m)
572
-14
1,934
-1
7,480
+1
IT equipment finance (£m)
293
+19
726
+14
2,285
+2
Business equipment finance (£m)
227
+6
624
+6
2,581
+7
Car finance (£m)
629
-2
2,243
+4
9,531
+5
Aircraft, ships and rolling stock finance (£m)
36
-41
60
-50
549
+20
By channel:
Direct finance (£m)
1,153
-7
3,746
0
15,477
+4
Broker-introduced finance (£m)
579
+24
1,620
+21
5,839
+14
Sales finance (£m)
752
-8
2,329
+4
9,436
+7
By product:
Finance leasing (£m)
403
+1
1,022
+5
3,809
+6
Operating leasing (£m)
511
-12
1,624
-4
6,755
0
Lease/Hire purchase (£m)
1,225
+1
4,162
+5
16,924
+8
Other finance (£m)
493
+45
1,053
+19
4,281
+5
Note to editors:
In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £32 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.