Nearly £40m raised by London and Cambridge autotech companies November 28, 2023 Two British autotech companies, Physicsx and Secondmind, have secured close to £40m in combined investment.
British manufacturing sector gets £4.5bn shot in the arm from Jeremy Hunt November 17, 2023 Funding was announced by chancellor Jeremy Hunt this evening, ahead of the much-vaunted Autumn statement next Wednesday, which is likely to focus on productivity in the workforce.
Ferrari profits speed ahead as wealthy buyers splash out to personalise supercars November 2, 2023 Ferrari raised its earnings forecast on Thursday after profits surged on wealthy consumers paying out to personalise their supercars.
Can’t beat them? Join them. European automakers rev up stakes in Chinese EV makers October 30, 2023 European automakers are revving up their stakes in Chinese electric vehicle makers in a bid to crack the market amid cut-throat competition.
Volkswagen ‘not satsified’ with profits as hedging losses bite October 26, 2023 Arno Antlitz, Volkswagen's chief financial officer, said the company was on a "robust course and had again increased sales volumes and revenues in the third quarter".
Porsche defies economic gravity as luxury cars outpace recession fears October 25, 2023 Porsche reported a jump in sales and profits thanks to strong performances from its bestselling Cayenne series and all-electric Taycan.
Car industry plan could create 80,000 jobs, Labour says October 10, 2023 Labour have unveiled their plans for the car industry which they say could create 80,000 jobs, Jonathan Reynolds has said.
Why so secretive? Sunak blasted for ‘surreptitious’ industrial strategy May 18, 2023 A set of cross-party former business secretaries have launched a stinging attack on Rishi Sunak over his apparent lack of a cohesive industrial strategy. Ex-ministers Greg Clark, Peter Mandelson and Vince Cable told the Financial Times the Prime Minister was being so “surreptitious” that his strategy for industry was a “guilty secret”. Clark, Conservative business [...]
Ford receives £600m government loan to ramp up UK EV production December 1, 2022 Ford is set to ramp up production of electric vehicles in the UK following a £600m government loan. Through the UK Export Finance funding, the marque will increase its electric vehicle (EV) range from the current two models to nine within the next four years. The loan will boost a £125m investment into Ford’s EV [...]
Automotive sector calls on government to secure industry’s long-term future November 29, 2022 The UK automotive industry has called on the government to “take rapid action” and secure its long-term future, as the sector could contribute an additional £14bn to the economy. According to analysis published today by the Society of Motor Manufacturers and Traders (SMMT), the sector’s recovery is expected to gain momentum next year after two [...]