Powervault: London Mayor-backed Tesla battery rival collapses December 3, 2025 Battery storage firm Powervault, which had been tipped to become the UK rival to Tesla, has collapsed into administration, City AM can reveal. The London-based company, which had been backed by the Mayor of London’s Greater London Investment Fund as well as the British Business Bank, has appointed administrators Menzies to oversee its wind-down, according [...]
Autumn Budget: Pay-per-mile tax ‘completely wrong move’ November 26, 2025 Chancellor Rachel Reeves has hit electric vehicles with a pay-per-mile tax which will cost the average driver £255 per year and raise £1.1bn for the Treasury. Reeves delivered the expected 3p pay-per-mile tax for electric vehicles (EVs) at today’s Budget, which she framed as a fairness measure to balance the costs facing drivers. The OBR, the independent fiscal [...]
Santander: UK businesses shift away from China as tensions flare November 18, 2025 UK businesses are moving away from China as risks mount amid flaring geopolitical tensions. Over half of firms are taking steps to bring their supply chains closer to home, with one in five having already relocated their network closer to the UK. The moves come amid questions over China’s dominance in the supply chain, with [...]
AI bubble fears: Which of the Magnificent Seven will pop? November 17, 2025 The spectacle of the so-called Magnificent Seven – Alphabet, Amazon, Apple, Tesla, Meta, Microsoft, and Nvidia – has been the defining market story of this generation. Synonymous with the AI boom, their collective valuation, now commanding a fifth of global markets, is underpinned by the fervent belief that they alone will win the AI arms [...]
What can Britain learn from Elon Musk? How to fail… November 17, 2025 British engineering needs to be a little more Musk; pragmatic, ambitious and unafraid to learn in public, says Robert Rayner Elon Musk’s rise to trillionaire status is more than a story of wealth, it is a display of how technological vision and financial resilience can merge into a new model of progress. His trillion-dollar payout [...]
Waymo founder: ‘I never envisioned a London rollout’ October 22, 2025 As Waymo prepares for its UK launch, founder Sebastian Thrun admitted he “never envisioned” London being home to autonomous cars. The driverless taxis have taken the US by storm, and the company will soon enter Europe, hitting the streets of the capital before the end of the year. The company, owned by Google parent Alphabet, [...]
Musk’s ‘affordable’ Tesla model still packs a punchy price October 8, 2025 Tesla has unveiled cheaper versions of its Model 3 and Model Y electric vehicles, but with starting prices still hovering near $40,000 (£29,820) investors and analysts say the cars fall short of chief executive Elon Musk’s promise of a truly mass-market EV. The new Model 3 Standard starts at $36,990, while the Model Y Standard [...]
Tesla to unveil lower-cost Model Y to revive sales momentum October 6, 2025 Tesla is expected to unveil a long-awaited, lower-cost version of its Model Y SUV this week, as the American electric car giant looks to reignite demand amid slowing global sales and rising competition from Chinese rivals. The new variant, widely referred to as the Model Y Standard, has been spotted testing near Tesla’s gigafactory in Texas and [...]
Tesla breaks sales record but European slump persists October 2, 2025 Tesla delivered nearly half a million vehicles in the third quarter, a record for the electric carmaker, even as it continued to lose ground in Europe to Chinese and European rivals. Elon Musk’s car giant exported 497,099 vehicles between July and September 2025, up 29 per cent on the previous quarter and seven per cent [...]
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 [...]