Inster-gram - 2 July 2024

FOLLOW UP: ARAMCO FINALLY AGREE TO HORSE STAKEThe joint-venture between Geely and Renault, for engine technology, called Horse, has finally managed to get Aramco on board as the third partner. They are expected to take a 10% share in the company. To read more, click this link to a Reuters article here. VW THROWS $1B LIFELINE TO RIVIANVolkswagen and Rivian announced a partnership, with VW investing $1 billion initially into the US EV start up. The German company has stated it wants access to the battery technology and full software stack Rivian has developed. A further $4 billion could come from Volkswagen if certain criteria are met. This helps Rivian survive a little longer, but raises big questions about CARIAD. Click this Tech Crunch article link for more. Click this Christiaan Hetzner Twitter thread for more about CARIAD and why the deal brings it’s existence into question. If you would like to read more about Rivian’s ambitions, click this autoevolution article link here. STELLANTIS THREATEN TO CLOSE UK MANUFACTURINGStellantis’s UK managing director has stated that they will make a decision in “less than a year”. They want help from the UK Government, including incentives for private buyers to encourage more EVs to be bought. On top of that, more is demanded for businesses to encourage them to buy more EV vans. To read more, click this article link from The Guardian. RENAULT UK GET A NEW MDRenault UK has announced that Guillame Sicard will take up a new post in Renault France, with Adam Wood becoming the managing director on 1 October 2024, as well as the country manager for Renault Group. Click this AMOnline article link to read more. PEUGEOT UK GET A NEW BOSSAs Adam Wood has resigned from his position as managing director of Peugeot UK and moved to Renault UK, Eurig Druce who was vice president of Stellantis Sales. To read more, click this AMOnline article link here. NEW CAR PARK INDUSTRY CODE OF PRACTICEThe car parking industry, in an attempt to avoid direct intervention by the UK Government, has announced a number of new standards they will work to from the autumn. However, the whole industry does not need to be compliant until December 2026. Motoring groups have stated how little this does to change the situation. You can read more by clicking this BBC News article link here. SUGGESTION ON DEALING WITH CAR WEIGHT INCREASEA group of academics have...