Hyundai and Kia have announced an £85m investment in UK-based electric van maker - and LowCVP member - Arrival. The money will be used by Arrival to scale up production of its electric van targeted at the commercial vehicle market. It comes days after Arrival announced a huge ev van order from UPS in the United States. The cash injection - which … [Read more...]
Finance News
Newslines 3 February
Automobili Lamborghini and The LEGO Group announce the new partnership introducing the first ever Lamborghini super sports car by LEGO Technic, the building system that allows older kids and adults to create more advanced, complex models. The new series will launch this summer. Production of the three-year-old Mercedes-Benz X-class pickup is ending in … [Read more...]
Rethink on EV models for Aston Martin Lagonda St Athan
The brakes have been applied to electric vehicle plans at the Aston Martin Lagonda St Athan plant, it has been reported. The main investor behind a total £500M boost to the company’s balance sheet last week, fashion and motor sport entrepreneur Lawrence Stroll, wants plans and development rebalanced. Aston Martin president and chief operating officer Andy … [Read more...]
£500M “good” for Aston Martin & St Athan, Welsh Minister
Aston Martin’s St Athan project is rolling ahead and another 300 people are being interviewed for jobs as a further £500M investment is raised for the company today, writes Robin Roberts. A business consortium led by motor sport billionaire and Racing Point F1 team’s Canadian owner Lawrence Stroll has bought 45.6m new ordinary shares to make him executive … [Read more...]
Rugby fans should convert to private parking for games
Rugby fans could pay four times as much for parking at Six Nations matches by parking at traditional car parks rather than on cheaper rented driveways. The latest research has been conducted by online parking portal YourParkingSpace.co.uk and looks at various tournament parking options for visitors to Twickenham, London, the Principality Stadium, Cardiff … [Read more...]
Car makers’ mounting concerns over challenges
Forecasting the first downturn in EU car sales in seven years this year, the European Automobile Manufacturers’ Association today outlined the major challenges as it embarks on the transition to carbon-neutral transport. “One of the biggest drivers of change for our sector is the need to address environmental concerns,” stated Michael Manley, ACEA President … [Read more...]
Auctions expected to rise in trade
Over half of respondents in a recent survey expect an increase in auction volumes, said Louise Wallis, Head of the National Association of Motor Auctions, commenting on the latest figures from NAMA’s market attitude survey. Auction volumes are expected to increase by 53% of respondents, with only 20% predicting a fall. Conversion rates are strongly … [Read more...]
AA rely on WMS Group warranties
AA Cars has appointed the award-winning WMS Group as their new warranty provider in a move targeted to shake up the used car warranty market. An initial five-year deal will begin on 1 April 2020, where WMS will be responsible for the administration and claims handling of all add-on products under and affiliated to the AA Warranty brand including the Dealer … [Read more...]
EVs will spark boom in UK power and transport
Electric vehicles will be good for the UK's power systems and transport network, say experts. A Government-backed taskforce bringing together key players in the energy, infrastructure and transport sectors has demonstrated that an effectively managed integration of electric vehicles with the energy system can significantly improve electricity network … [Read more...]
Car insurance at a two-year high in Wales
The cost of car insurance in Wales is at a two-year high, according to new data today. Drivers in the region can now expect to pay £712 for their car insurance, on average, following increases over the past year. That’s according to Confused.com’s latest car insurance price index, powered by Willis Towers Watson. Based on more than six million quotes … [Read more...]
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