Chinese backers have moved to take a share of the quintessentially British Aston Martin Lagonda brand. Geely, who are behind Volvo, Polestar and Lotus, have taken a 17% stake of £234M in the Gaydon and St Athan luxury car makers and may raise it to 22%. The move makes the Chinese giant the third-largest shareholder in Aston Martin, behind the Saudi Arabian … [Read more...]
Newslines 27 January: Ford to make big job cuts
A massive jobs cull in Germany and other European countries is expected by the union representing Ford workers. Some positions are expected to be axed in the UK as well while the US car maker transitions towards a fully electric range from 2025, initially slashing over 3,200 jobs in Ford of Europe, and realigning with R&D in America. Bentley Motors … [Read more...]
Newslines 28 March
Almost half of electric vehicle (EV) drivers could be missing out on cheaper off-peak electricity costs at home while inflation reaches a new 30 year-high, a survey by Smart Home Charge, the UK’s leading home charging retailer and installer has revealed. The results show that 88 per cent of those polled own an EV, with 46 per cent of all respondents … [Read more...]
Tradelines 27 January
Bucking the UK trend in falling sales, the UK’s fastest-growing car brand shows no signs of slowing down as MG Motor gears up to increase its network to at least 130 dealers by the end of 2021. With a range now encompassing six models and a rapidly growing reputation for offering affordable EVs for everyone, the brand has seen 28 new sites join its … [Read more...]
Volvo’s new horizons
Volvo Cars has its eyes firmly set on the future as it celebrated the 10-year anniversary of its acquisition by Zhejiang Geely Holding on 28 March. The company has seen a complete transformation of its business under Geely ownership, changing from a purely European firm to a truly global and strong player in the premium car market, racking up record sales, … [Read more...]
Tradelines 13 November
Nissan profits have collapsed by 70% in three months. It made $278M to the end of September with retail sales down 7.5% globally, European registrations slid 23% but sales showed a steadying picture in America. JLR is looking for partners to share new technology and other costs, say media reports. BMW and Zhejiang Geely are mentioned but others may be … [Read more...]
Volvo and Geely to merge combustion engine operations
Volvo Cars and Geely intend to merge their existing combustion engine operations into a stand-alone business in order to establish a new global supplier that will seek to develop next-generation combustion engines and hybrid powertrains. The proposed new business would clear the way for Volvo Cars to focus on the development of its all-electric range of … [Read more...]
Newslines 11 September
Jaguar Land Rover could be hit by £80 Billion of costs if Britain does not secure a good Brexit deal, said CEO Ralf Speth. Extra costs and parts delays threaten to cut profits by £1.2 Billion annually but slowing sales due to diesel and business fuel taxes are also weighing on the business which reported a £210 Million loss in Q2. Jaguar Land Rover … [Read more...]
Newslines 17 August
Jaguar Land Rover will add three new models over the next five years and gradually switch most of its vehicles to a new modular platform. The first model will be a new-generation Land Rover Defender, arriving in the 2020-21 financial year, JLR said in a June 22 presentation to investors and two more vehicles will be launched between 2021 and 2024, with … [Read more...]
Newslines 21 April
The A40 will remain shut between Llandovery and Llanwrda over the weekend at least. It’s emergency closure follows the opening of a sink-hole in the carriageway on Wednesday evening and the diversions have caused chaos in surrounding villages struggling with HGVs on narrow sections. Plans to scrap the proposed electric rail line between Cardiff and … [Read more...]
