Sign Brexit deal to ‘give us our future’, pleads car industry November 24, 2020 The car industry has pleaded with the government to sign a post-Brexit free trade agreement by Christmas, saying that the failure to do so could cost the sector £55bn by 2025. Speaking at a Society for Motor Manufacturers and Traders (SMMT) summit, chief executive Mike Hawes said that a new partnership with the EU “could [...]
Plug-in hybrid cars emit far more carbon dioxide than advertised November 23, 2020 Plug-in hybrid cars emit far more carbon dioxide than advertised, new research published today shows, just days after the government decided to allow sales of such vehicles to continue to 2035. According to a study done by European body Transport & Environment, three of the most popular hybrids all emitted more carbon dioxide than advertised [...]
Ineos inks deal with Hyundai for hydrogen-powered Grenadier 4×4 November 23, 2020 Sir Jim Ratcliffe’s Ineos will work with South Korean auto giant Hyundai to assess whether its new Grenadier car can be powered by hydrogen fuel cell. The assessment is part of a new deal between the two firms to explore new hydrogen power technologies across a number of sectors. The Grenadier, which is set for [...]
Growth rate of UK R&D funding slips to the lowest in nearly a decade November 20, 2020 UK businesses spent a total of £25.9bn on research and development (R&D) in 2019, an increase of just 3.3 per cent on the previous year’s spending.
UK manufacturing orders drop as near-term outlook darkens November 19, 2020 Britain’s manufacturers suffered a fall in orders in November as governments tightened coronavirus restrictions in a bid to halt the rapid spread of coronavirus, a survey has shown. The CBI’s monthly measure of manufacturing order books fell to a score of minus 40 in November. It had picked up sharply to minus 34 in October, [...]
European car sales fall in October as new restrictions kick in November 18, 2020 The European car market fell again in October having only recorded its first increase this year the month before, new figures today showed. Last month sales of new cars declined 7.8 per cent to 953,615 units as governments across the continent began to impose new lockdown restrictions. The figures, from trade body the European Automobile [...]
Nissan warns UK business hard to sustain without Brexit deal November 18, 2020 A top executive at Japanese car giant Nissan has warned that it would be hard to sustain its operations in the UK should the country leave the EU without a trade deal. Speaking to Reuters, chief operating officer Ashwani Gupta said: “If [the exit] happens without any sustainable business case obviously it is not a [...]
Tesla shares pop again on confirmation that firm will join S&P 500 November 17, 2020 Tesla shares jumped 14 per cent yesterday after it was announced that the electric car maker would join the S&P 500 index in December. The admission comes on the back of five consecutive quarters of profit at the California-based firm, which has thrived amid the coronavirus pandemic. Shares in Elon Musk’s company have risen around [...]
Nissan reportedly planning to sell stake in Mitsubishi Motors November 16, 2020 Nissan is reportedly mulling plans to sell all or part of its stake in fellow Japanese car giant Mitsubishi, in a move that would shake up the global car market. Two years on from the scandalous arrest of former chief exec Carlos Ghosn, the move would radically alter the global alliance between the two and [...]
Ban on new petrol and diesel car sales to be brought forward to 2030 November 14, 2020 Boris Johnson is set to announce that the ban on petrol and diesel vehicles will be brought forward to 2030. The announcement is expected as part of a landmark speech laying out the government’s 10 point plan for climate change. Back in February the ban on the sale of such vehicles was brought forward to [...]