LEVC: London electric taxi company loses £180m October 7, 2025 LEVC, the London electric taxi company, lost almost £180m during its latest financial year as its sales were slashed. The Coventry-headquartered electric taxi maker, which is also known as London EV Company, has reported a pre-tax loss of £179.4m, according to new accounts filed with Companies House. The business, which is owned by Chinese automotive [...]
Tesla: UK sales slump by £500m as profit slashed September 26, 2025 Sales at the UK arm of Elon Musk’s Tesla slumped by more than £500m as its profit was also slashed during its latest financial year. The division, which is headquartered in Manchester, has reported a revenue of £1.94bn for 2024, new accounts filed with Companies House show. The new figure comes after Tesla posted a [...]
Auto Trader: Brits turn to older cars amid ‘economic uncertainty’ July 29, 2025 Brits are turning their backs on new cars choosing to buy more older models amid “ongoing economic uncertainty”, according to FTSE 100 giant Auto Trader. The Manchester-headquartered company said a “standout trend” of 2025 so far is the “growing appetite for affordable used cars”, particularly those aged between five and 10 years old. Auto Trader has [...]
Sir Richard Branson-backed Gridserve cuts jobs as it loses over £80m July 21, 2025 Gridserve, the electric vehicle (EV) charging network whose investors include a fund backed by Sir Richard Branson, cut jobs as it lost more than £80m in 2024, it has been revealed. The Swindon-headquartered business has reported a pre-tax loss of £82.7m for its latest financial year, according to new accounts filed with Companies House. Gridserve [...]
‘Code red’ for Tesla as Musk’s firm stalls ahead of key earnings April 22, 2025 Tesla shares sank nearly six per cent on Easter Monday, leaving investors braced for what analysts have called a “code red” moment for Elon Musk’s firm ahead of its first quarter earnings announcement. The electric vehicle (EV) giant is facing mounting concerns over failing sales, geopolitical headwinds and evolving criticism of Musk’s political involvement, which [...]
Polestar takes advantage of Tesla sales slump April 10, 2025 Polestar is benefitting from Tesla’s well-publicised slump as it revealed a huge growth in global sales for the first three months of 2025. The Swedish company, which is listed on the US Nasdaq, has sold an estimated 12,304 cars since the turn of the year, 76 per cent up compared to the same period in [...]
Why boss of FTSE 100 giant Auto Trader might ditch his Tesla March 25, 2025 The boss of FTSE 100 Auto Trader may ditch his Tesla in the future as rivals to Elon Musk's giant become more competitive on price.
Jaguar Land Rover hires 150 EV roles ahead of electric Range Rover launch March 20, 2025 Jaguar Land Rover will recruit 150 specialist EV technicians in the West Midlands ahead of the launch of its all-electric Range Rover in 2025. The luxury carmaker said the new roles would be “central” to its plans to offer pure electric versions of all of its brands by 2030. It is also aiming to become [...]
Nissan supplier to create almost 200 jobs with new £50m EV factory January 16, 2025 A major supplier of Nissan has invested nearly £50m to open a new factory in Sunderland, creating 183 high-skilled jobs for the local region. Jatco, a Japanese firm which makes gearboxes for global automakers, will build electrified powertrains for Nissan’s nearby gigafactory. Situated in Sunderland’s International Advanced Manufacturing Park, the 138,840 sq ft plant is [...]
New car market in UK up 2.6 per cent in 2024, figures reveal January 4, 2025 The UK’s new car market recorded its second successive year of growth with a 2.6 per cent rise in registrations in 2024, new figures show. Industry body the Society of Motor Manufacturers and Traders (SMMT) said around 1,953,000 new cars were registered last year, compared with 1,903,000 in 2023. Growth was delivered entirely by purchases [...]