One of the world’s major cycling events will sweep through much of South Wales on Sunday and lead to staggered road closures.
Pro and amateur routes in the Velathon Wales event will start and finish in Cardiff but take in Newport and South East Wales Valleys with thousands of riders participating, so expect extensive diversions to be in place and allow extra time for journeys.
The SMMT welcomed government’s commitment to accelerate the development of connected and autonomous vehicles in the UK and covered in the Queen’s Speech to Parliament.
“This is a huge opportunity for Britain, with the potential to deliver significant road safety improvements, create hundreds of thousands of new jobs and generate £51 billion for the economy by 2030,”said Mike Hawes, SMMT Chief Executive, who added, that the announcement will help the UK position itself as a global leader in innovation and building the cars of the future.
Milan-listed shares in Fiat Chrysler Automobiles rose more than 3 percent after a media report suggested that China’s Guangzhou Automobile Group was considering making an offer for a majority stake in the automaker.
Il Giornale daily said in an unsourced report that Guangzhou Auto, which already has a joint venture with FCA in China, may be interested in buying a stake.
Suzuki Motor said it had used fuel efficiency and emission testing methods that were different from Japanese regulations on 16 models now sold in the country, but that proper testing showed no need to amend the data.
Japan’s fourth-largest automaker said the improper testing method dated back to 2010 and that around 2.1 million vehicles were affected adding there was no intention to deceive buyers and it does not affect any Suzuki-badged vehicles overseas.
A row is intensifying in France over the €7.2M salary of Renault chief Carlos Ghosn.
His 2015 pay package was rejected by shareholders but the Renault board has chosen to ignore their objection, and now the French Government is likely to block the pay deal which is a complicated mix of fixed salary, variable pay related to performance and includes deferred bonuses and stock.