Hyundai and Kia inject €100m in London electric vehicle scaleup January 16, 2020 Car making giants Hyundai and Kia will today reveal a €100m (£85.6m) in London-headquartered electric vehicle firm Arrival. The move will mark the beginning of a strategic partnership between the trio which will see Hyundai and Kia use the scaleup’s technology to develop mobility solutions and electrify their vehicles. Arrival, which has more than 800 [...]
Chinese car sales tumble again in 2019 January 13, 2020 The Chinese car market was in reverse for the second consecutive year in 2019, as the cooling economy and the nation’s trade disputes with the US hit consumers. Sales slumped 8.2 per cent to 25.8m vehicles last year, after a 2.8 per cent fall to 28.1m in 2018, according to the China Association of Automobile [...]
Nissan executives and Japanese officials hit back at Carlos Ghosn January 9, 2020 Former chief executive of Nissan and successor to Carlos Ghosn, Hiroto Saikawa, has slammed his former mentor’s daring escape from the authorities in Tokyo to his childhood home of Lebanon. Ghosn fled the country late last month while awaiting trial for four charges of financial misconduct. Read more: Carlos Ghosn lambasts Japanese government and Nissan [...]
Carlos Ghosn lambasts Japanese government and Nissan for ‘collusion’ January 8, 2020 Carlos Ghosn has accused the Japanese state and Nissan executives of instigating a co-ordinated plot against him, in an explosive first appearance since his sensational escape from Japan last month. In a defiant but rambling press conference in Beirut, the former Nissan-Renault chairman said the charges of financial misconduct for which he had been arrested [...]
Millennials drive record Rolls-Royce sales as luxury car firm targets youth January 7, 2020 Rolls-Royce’s high-end, luxury cars may not immediately come to mind as the playthings of the younger generation. But thanks to a concerted push to appeal to younger buyers, the 111-year-old company has managed to bring the average age of its clientele down by 13 years over the last decade to just 43. Read more: Aston [...]
CES 2020: Amazon, Sony and Toyota put mobility centre stage at tech conference January 7, 2020 Amazon signalled a concerted push into the car industry at CES 2020, as it announced a partnership with Lamborghini and other firms working on driverless car tech. It signals the latest move into the mobility sector for one of Silicon Valley’s tech giants, as the internet retailer said it would add its voice assistant Alexa [...]
Boeing ‘mulls raising more debt’ as aerospace giant feels the pinch January 6, 2020 Boeing is said to be considering whether to raise more debt to boost its finances, which have come under intense strain from the grounding of its 737 Max jet. The firm has already taken a nearly $10bn (£7.6bn) hit on the 737 Max since the second of two crashes involving the jet happened in March [...]
SMMT: UK car sales plunge to six-year low despite electric growth January 6, 2020 British car sales slumped to a six-year low in 2019, as widespread economic uncertainty put the brakes on an industry whose only glimmer of hope came in the form of record electric vehicle sales. New car registrations fell two per cent to 2.31m last year, according to the Society of Motor Manufacturers and Traders (SMMT), [...]
Going, going, Ghosn: Nissan saga rumbles on as fugitive former boss gears up for blockbuster press conference January 5, 2020 How did he do it? A week after Carlos Ghosn’s sensational getaway from Tokyo turned him into one of the most sought-after international fugitives on the planet, this will still be the question on Japanese officials’ lips. Did the former Nissan boss really jump bail in a double bass case? Read more: Carlos Ghosn met [...]
Tata chairman throws doubt over future of Port Talbot steelworks January 5, 2020 Port Talbot steelworks is facing fresh questions over its future as it heads into 2020, after the chairman of Tata Steel called for the plant to become “self-sustaining”. The biggest steel manufacturing base in the UK made losses of more than £370m last year, leading Natarajan Chandrasekaran to question whether his parent firm could keep [...]