BMW to stop customisation following EV transition costs November 16, 2021 BMW is said to stop car customisation following the transition to electric vehicles (EV) that is forcing the automotive giant to cut costs where possible. Once priding itself for the wide range of choices given to customers, BMW has now said it will not be able to provide such a large number of options when [...]
Ride-hailing firm Gett agrees $1bn SPAC merger with Rosecliff November 10, 2021 Ride-hailing firm Gett enters into a business combination agreement with SPAC Rosecliff Acquisition, valued at $1.1bn.
All new cars will be net zero by 2040, says COP26 declaration November 10, 2021 Representatives from several governments, businesses and other automotive stakeholders have committed for all new car sales to globally be net zero by 2040. By signing the COP26 “declaration on zero emission cars and vans”, stakeholders have agreed that in leading markets the transition to environmentally conscious vehicles will need to happen no later than 2035, [...]
EV set to remain a luxury for the rich without incentives, warns Auto Trader November 10, 2021 British automotive marketplace Auto Trader has argued that without targeted incentives for the mass adoption of electric vehicles (EV), net-zero cars will remain an exclusive prerogative of the rich. Data from Auto Trader has revealed that interest in EV is coming mainly from wealthier postcodes, as six of the top 10 EV hotspots are in [...]
Majority of public charging points take eight hours to charge, say Lib Dems November 10, 2021 Data from an analysis by the Liberal Democrats have revealed that 80 per cent of public charging points for electric vehicles would take up to eight hours to charge a small car. According to the party despite the UK Government’s promises to increase the numbers, in the last three months out of 1,553 chargers installed [...]
EV company Pod Point announces admission to trading on LSE November 9, 2021 Electric vehicle (EV) charging provider Pod Point announced yesterday its admission to trading on the London Stock Exchange (LSE). The company revealed that its 153.4m ordinary share capital was accepted to the Financial Conduct Authority’s (FCA) official list, under the ticker PODP. The news came a few days after the company confirmed its offer price [...]
Rising costs of lithium batteries to cause a hike in EV prices November 8, 2021 The rising cost of lithium batteries could lead to a surge in the price of electric cars, the Telegraph reported. According to price reporting agency Benchmark Mineral Intelligence, lithium ion battery makers have contacted customers to renegotiate contracts, placing the responsibility on the rise in cathode and anode raw material prices as well as rising [...]
London energy fund backs pay-per-mile EV taxi funding November 8, 2021 The Mayor of London’s energy efficiency fund (MEEF) has contracted FinTech company Zeti to deliver pay-per-mile funding of net-zero taxis across the capital. MEEF – a £500m investment fund – will make finance payments on a per-mile basis to boost the cash flow of fleet operators. The funding will have as its first beneficiary Colt [...]
BMW beats expectations with rising third quarter profits as electric vehicle sales soar November 3, 2021 German manufacturing giant BMW has reported third quarter net quarter profits of EUR 2.58 billion, surpassing analysts’ expectations with a 42.4 per cent year on year increase during the three-month window. The outperformance in profits is powered by rocketing sales of electric vehicles and higher car prices. BMW has now reported an operating profit (EBIT) [...]
Cazoo announces revenue boom as second-hand car demand soars October 26, 2021 Cazoo announces third-quarter success, as their offering resonates with second-hand buyers and a growing delivery culture. The used-car retailer report a growth in revenue up 267 per cent YoY, to £174.4m in Q3. Within this, retails revenues were up 207 per cent YoY, with a gross profit of £11.8m, up by £12.5m compared to Q3 [...]