Ford admits it’s losing billions as heavy investment in electric puts brakes on profit March 23, 2023 Ford’s electric vehicle business has lost three billion US dollars (£2.44 billion) before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released on Thursday as Ford rolled out a new way of reporting financial results. The new [...]
Black cabs: London’s electric taxis overtake diesel for first time with 6,000 now on capital’s roads March 7, 2023 London now has more electric black cabs than diesel powered ones for the first time, following widespread uptake of taxis in line with London’s net zero push. There are now more than 6,000 fully-electric black cabs in London’s taxi fleet, meaning electric taxis are now the most common type of Hackney carriage on the capital’s [...]
UK drivers could miss out on £9bn in savings without Government backing for electric vehicles, report warns February 27, 2023 UK motorists could miss out on £9 billion of savings unless the Government does more to encourage the uptake of electric vehicles (EVs), a new report warns. A slower roll-out of new EVs would reduce the size of the second-hand market, leaving drivers on lower incomes paying more to continue running petrol cars, the Energy [...]
Motor boss warns against ‘protectionism’ as electric vehicle production accelerates 50 per cent February 24, 2023 Car production in Britain fell slightly in January as thousands continued the shift towards electric vehicles which experienced a near 50 per cent increase. Despite global economic instability, car production fell just 0.3 per cent last month, which was welcomed by the industry as a sign of market stability. The Society of Motor Manufacturers and [...]
Bentley to end production of 12-cylinder petrol engine as luxury car maker is latest in shift to EV February 22, 2023 Bentley will end production of its famed 12-cylinder petrol engine in April next year, the luxury car maker has announced. More than 100,000 examples of the W12 engine have been built at the company’s factory in Crewe, Cheshire over the past 20 years. The decision to halt production is part of the business’s move to [...]
EV charging prices down but varying peak-rates threaten to drive up cost, AA warns February 15, 2023 The cost of charging electric vehicles (EV) fell in January but drivers should be aware that providers are now offering different rates depending on the time of day, a report by the AA warned. The insurance company found that slow charging costs dropped eight per cent last month to match home charging, but the average [...]
How decoupling cost of electricity from gas can benefit EV uptake, according to motoring groups February 9, 2023 Motoring groups have called on the government to decouple the wholesale price of electricity from gas in a bid to bring down the costs associated with running an electric vehicle (EV). The RAC and EV campaign group Faircharge today urged ministers to publish the results of their Review of Electricity Market Arrangements, which closed in [...]
Nissan’s Sunderland plant could make Renault and Mitsubishi cars if factory is competitive, top exec says February 6, 2023 Nissan’s Sunderland plant could start producing Renault and Mitsubishi cars under the rebooted alliance between the Japanese and French car makers, but only if the factory is competitive, Nissan’s chief operating officer Ashwani Gupta said today. Gupta told journalists this afternoon that the move could happen depending on the factory’s competitiveness. “If Sunderland is competitive, [...]
Tesla: Musk’s EV giant ready to enter UK insurance market with launch of London firm February 6, 2023 Electric vehicle (EV) maker Tesla appears to be readying itself to begin insuring British drivers through the launch of its own London-based insurer. Elon Musk’s automotive company is seeking to open a UK branch of its Malta-based insurance business, filings to Companies House show. Tesla is also hiring a lawyer to work in its “full-stack [...]
Car makers call for EV tax cuts in March Budget to help drive green transition February 6, 2023 Car makers have called on the UK government to implement a raft of tax cuts in the March Budget to help support the transition to electric vehicles. The Society of Motor Manufacturers and Traders (SMMT) said today that the upcoming budget – which will be announced on 15 March – is a good opportunity to [...]