Jaguar Land Rover plans £500m ‘factory of the future’ in UK electric vehicle drive September 26, 2024 Jaguar Land Rover (JLR) has announced plans to invest £500m to transform one its historic factories as part of its drive to build more electric vehicles. The Whitley-headquartered automotive giant has already spent £250m on upgrading the Halewood plant, near Liverpool, which was originally constructed in 1963 to make the Ford Anglia. The work will [...]
Toyota: Revenue surges despite drop in UK market share September 16, 2024 Sales at the UK arm of car making giant Toyota jumped by almost £600m to pass £3.5bn during its latest financial year despite a drop in market share. The Surrey-headquartered company’s revenue for the year to 31 March, 2024, increased from £2.9bn to £3.5bn, according to newly-filed accounts with Companies House. The UK market share [...]
Chinese EV makers should be barred from UK public contracts over data privacy fears, campaigners warn September 16, 2024 Suppliers suspected of having ties to the Chinese military pose a risk due to the potential for built components to be "weaponised" from overseas.
‘Heavy discounting’ sparks new electric car sales surge September 5, 2024 New electric vehicle (EV) registrations jumped in August as “heavy discounting” by manufacturers and a raft of new models tempted consumers to make the switch. The latest figures from the Society of Motor Manufacturers and Traders (SMMT) reveal a 10.8 per cent increase in battery electric vehicle (BEV) registrations in the last month. BEVs now [...]
Volvo insists ‘future is electric’ despite ditching 2030 EV-only target September 4, 2024 Volvo said it would now look for 90 to 100 per cent of its total sales to be either fully electric or plug-in hybrid by the end of the decade.
Caterham Cars bosses voice ‘disappointment’ at fourth loss in a row September 4, 2024 Bosses at car maker Caterham have voiced their ‘disappointment’ in falling to a loss for the fourth year in a row. The Kent-headquartered manufacturer of lightweight sports cars has reported a pre-tax loss of £2.3m for the year to 31 March, 2024, having also made a loss of £2.7m in the prior 12 months. The [...]
Profit slumps by over £400m at Lloyds-owned car leasing firm August 27, 2024 Profit at the car leasing company owned by Lloyds Bank slumped by more than £400m during 2023, it has been revealed. Lex Autolease, which is headquartered in London, has posted a pre-tax profit of £124.4m for its latest financial year, according to newly-filed accounts with Companies House. The new total comes after the business posted [...]
Subaru sales accelerate as UK demand outstrips supply August 22, 2024 Sales at the UK company that imports Subaru cars surged by more than 40 per cent during its latest financial year despite demand outstripping supply. Subaru UK has reported a turnover of £75.9m for 2023, according to newly-filed accounts with Companies House. The total comes after the business posted a turnover of £48m for the [...]
Jaguar Land Rover and Porsche supplier almost triples sales August 21, 2024 Andersen EV, an electric charging start-up which supplies the likes of Jaguar Land Rover and Porsche, almost tripled its sales during its latest financial year. The Bedfordshire-headquartered company, which was formerly known as Evios, has reported a turnover of £3.7m for the year to 31 March, 2024, up from the £1.3m it reported in the [...]
Falling number of London taxi drivers leads to LEVC losing more than £100m August 21, 2024 LEVC is attempting to boost its net worth by £100m to combat the falling number of taxi drivers in central London and the expected further decline in its sales this year. The Coventry-headquartered electric taxi maker, which is also known as London EV Company, is in the process of increasing the value of everything a [...]