UK car and battery producers set to miss out on benefits from new UK-US partnership June 11, 2023 UK carmakers and battery producers will miss out on benefits from the much-anticipated US-UK economic partnership announced on Thursday, according to analysis from trade experts reported by the Financial Times. Britain’s automotive and electric vehicle (EV) industry had been hoping that “Atlantic Declaration” deals would help address concerns in the sector surrounding the impact of [...]
Saudi Arabia could replicate Dubai as a ‘playground for everyone’, says Riyadh Air boss June 11, 2023 The British chief executive of Saudi Arabia’s major new airline said on Sunday that the country could become a “playground for everybody” and replicate Dubai’s social and economic liberation, despite ongoing criticism over human rights abuses and corruption. In an interview with the Telegraph, Riyadh Air’s CEO Tony Douglas, a former boss of Etihad Group [...]
Car makers could face £730m in fines for missing UK’s zero-emission targets June 11, 2023 Car manufacturers could face up to £730m in fines if they don’t increase their sales of electric cars by 2024, according to new analysis from green consultancy New AutoMotive. The UK’s Zero Emissions Vehicle Mandate (ZEV) forces car manufacturers to make 22 per cent of their total UK car sales electric in 2024, and 100 [...]
Slow down! MPs and industry call for insurance and number plates for e-bikes June 11, 2023 E-bikes should be insured and have number plates due to the safety risks for pedestrians posed by speedy riders, warned MPs and industry members on Sunday. As more and more e-bikes take to the streets of the UK and counts of widely reported incidents grow, calls are growing for measures to help bring the electric [...]
Train derailment on line to London Bridge causes travel chaos on Thameslink June 9, 2023 A derailment within a depot between Dartford and London Bridge has forced all lines to be closed this morning. Major disruption was caused by the incident, with Network rail reporting just before 9am that the train was now clear of the track at Plumstead. However it was being inspected for damage caused so disruption would [...]
Expensive repairs and second-hand car costs push motor claims to record £2.4bn in first quarter June 9, 2023 A record £2.4 billion was paid out in motor claims in the first quarter of this year as firms find surging costs increasingly challenging to absorb, according to the Association of British Insurers (ABI). More expensive vehicle repairs, rising second-hand car costs and longer repair times are among the challenges faced by insurers, although there [...]
Wrightbus secures £50m government-backed loan to boost hydrogen bus exports June 9, 2023 Sustainable bus maker Wrightbus has today secured a £50m government-backed loan to turbocharge exports of electric and hydrogen-powered buses. The agreement will see the UK’s Export Finance (UKEF) agency guarantee 80 per cent of the loan, from Barclays bank. The firm said the backing will allow it to deliver orders to new markets including Germany [...]
Uber boss: ‘London a leader in electrification’ as new net zero measures unfurled June 8, 2023 Uber has today announced a host of new goals and features to hit net zero, including a target for all Uber Eats drivers to use zero emission vehicles by 2040. Under the new features, passengers will be able to track the emissions they have avoided when choosing zero-carbon drives, as the firm looks to expand [...]
FirstGroup beats profit forecasts on the back of strong demand June 8, 2023 FirstGroup saw group adjusted profit more than double this morning to £82.1m in its full year results, ahead of expectations, as increased passenger demand helped the train operator resist the impacts of industrial action. FirstGroup, who ran Transpennine Express, said its adjusted operating profit for the year ending in March came in at £161m, up [...]
Jet fuel costs keep Wizz Air loss making – but optimism for the year ahead June 8, 2023 Wizz Air saw its operating losses remain flat at €466.8m (£401.6m) in its full year results this morning, as last year’s soaring jet fuel costs pummelled the budget carrier. Total net losses were at €535.1m (£460.4m). Despite this, Wizz Air was confident about swinging to a profit later in the year, and saw a record [...]