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...The boss of Lucid Motors said the US electric car start-up must not rely on the “bottomless wealth” of its Saudi Arabian backer as it looks to raise funds over the coming year....
...Vauxhall owner Stellantis started production of electric vans at Ellesmere Port, while JLR announced eight new electric models and its owner Tata Motors has committed £4bn to a UK battery factory....
...To my surprise his account didn’t mention the example of Norway, where electric vehicles are taking over the market, due to a range of incentives like driving in bus lanes....
...I don’t know half a year or a year later what could happen to the industry.”...
...After a few failures — including a bike sharing idea that the couple abandoned within four months after realising it wouldn’t scale — they built a fleet of electric scooters and gig riders, in response to...
...Heavily used communal vehicles, such as buses and taxis, should go electric, too. But an electric car doesn’t make sense for individual urbanites. Few of them drive enough....
...The result is that leasing became as expensive as buying, so “it didn’t really make sense to lease at that time”, said Edmunds executive director of insights Jessica Caldwell....
...China remained a strong market for EVs, due to local rules and incentives, Butterworth said, but the US had been “very underwhelming, and we don’t see much momentum”....
...“It’s more of a confession that growth isn’t going to come roaring back than anything,” he added....
...“You don’t need to have a Nobel Prize in maths to understand EVs need to be a big part of it,” he said....
...“We don’t have 22 screens, we don’t have electric seats, and [this approach] resonates more and more, because some people are saying: don’t spend your money on useless things....
...“Investors are unlikely to see this as having major implications to the stock price as it wasn’t modelled into our (and most) long-term expectations.”...
...Ford’s F-150 Lightning electric truck starts from $42,000, while General Motors has launched an electric Hummer, which starts from $80,000 and weighs almost five tons....
...US carmakers including Ford, General Motors and Tesla have all recently paused plans to expand EV manufacturing capacity....
...The UK transport secretary said the country had “robust measures” in place to ensure that China couldn’t use domestic subsidies to undercut local manufacturers when importing electric vehicles into the UK...
...“It’s something you don’t see in that plant, ever,” he said. “You don’t see people come together like that.” Hourly pay at the plant tops out at $31 after the latest rises, or $64,000 a year....
...Electric cars accounted for 16.5 per cent of new vehicles sold in the UK last year — marginally down from the 16.6 per cent seen during 2022, according to figures released by the Society of Motor Manufacturers...
...It is the second-largest domestic producer of industrial robots and an important maker of motors and other components for electric vehicles....
...A number of EV makers have recently scaled back expansion plans, including Ford and General Motors, while rental group Hertz is selling one-third of its electric fleet to buy more petrol vehicles....
...“Given the stock price and the moves made operationally, things weren’t going well,” said one person involved....
...motor maker Inovance....
...“We were making good progress but this definitely won’t help, this indecision,” said Steve Nash, chief executive of the Institute of the Motor Industry, a lobby group....
...And you’re right, for a long, long time, everybody had basically asked when Toyota was going to get with the programme on battery electric vehicles, right? Cars that don’t have an engine at all....
...Ford, General Motors and Tesla have all pumped the brakes on expanding EV production capacity in recent weeks....
...“They don’t have a strong strategy internationally or in China, they have too many overlapping brands that just don’t make sense,” he said....
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