Some good news, for a change, as Ricaro, the seat manufacturer, being saved by an Italian parts maker called Proma Group. Unfortunately, many will lose their jobs as production will move to Italy. However, some technical and sales people will remain. You can learn more by clicking this Auotcar link here.
Aramco has finally bought the 10% stake in Horse which Geely and Renault were hoping for, after signing a letter of intent earlier in the year. Click this Yahoo Finance link for more.
The appeal by Musk, to be awarded a ridiculous $56 billion pay package, has failed. The judge cited that the many arguments Musk’s legal team used to change the ruling were full of flaws, anyone of which could have led to dismissing the appeal, let alone all of them together. Tesla will appeal. Again. To learn more, do click this link to a TechCrunch article here.
The November new car registration figures were released by the Society of Motor Manufacturers and Traders (SMMT), and they’re not great. A 1.9% decline in registrations overall, but BEVs increased again, with over 14,000 extra registrations than for the same month in 2023, amounting to a 25.1% market share for the month. Petrol and diesel fell, as did PHEVs. What will be concerning is that Fleet numbers fell, on top of Private continuing to decline. The SMMT called on the Government to help the industry out as the levels of price cutting and incentives was not sustainable.
To read the SMMT post and information, click this link here.
AMOnline have an article discussing EV depreciation, which we have discussed many times on this show, that you can read by clicking this link here.
For context on why registrations are not increasing at a rate many hoped and expected, click this link to a post about research into the financial well being of UK adults in 2023.
Last week Tesla paused Cybertruck production, which is on top of reducing hours earlier in the year. They are, for now, back to normal. You can read more, by clicking this Yahoo Finance article link here.
OX Delivers, which is an electric truck mobility service company, has created a new franchise partner that signed a $163 million agreement to expand their services in Rwanda and some neighbouring countries. Customers can either contract an electric truck including the servicing costs or book space on one of the OX trucks to collect and deliver their products, increasing the reach for businesses. If you want to learn more,
