Why are we friends - 13 August 2024

FOLLOW UP: CHINA SAYS EU TARIFFS ON EVS BREAK WTO RULESChina has said the tariffs imposed by the EU on Chinese made electric cars break the World Trade Organisation’s rules. On top of which the claim is the findings from the initial report and ruling are factually incorrect too. There is no confirmation that they have lodged legal proceedings with the WTO yet, but they state they reserve the right to do so. Click this Reuters article link to read more. JLR INCREASES SPENDING DUE TO EV TRANSITION ISSUESJLR has stated that it is increasing its five year investment plan spending by another £3 billion, as the transition to an EV market is not happening as quickly as many would like. They feel they are having to develop ICE and hybrid platforms alongside the electric only, as a result. If you wish to learn more, click this Autocar article link here. On top of that news, Jaguar announced it will reveal its EV concept in December with no cars being delivered before 2026. To read more on that, click this Autocar link here. LAMBORGHINI POSTS BEST HALF-YEAR RESULTSLamborghini delivered 5558 vehicles, resulting in a 14.1% increase in profits of £387 million. This is helped by an increase of 28.2% of car prices. At this current rate they will deliver more cars than they did in their record breaking year, 2023. You can read more about this, by clicking here for an Autocar link. VW TO CONCENTRATE ON COST CUTTINGVolkswagen Group has announced that it will be pushing their cost cutting program in the second half of the year as it looks to increase margins. CARIAD is one focus, according to CEO Blume. Constraining production would also be further enacted. Click this Reuters article link to read more. PROPOSED EU BATTERY REGULATION CHANGES CAUSE ANGERThe German car industry is up in arms about proposed changes to the EV battery regulations, for 2027. The idea is to grade a battery on a country’s energy production mix, which will impact Germany that are more carbon intensive after shutting all their nuclear plants. France, is in favour of the rule change, unsurprisingly when one looks at their energy production mix. To find out more, click this electrive article link here. CHINESE EV MAKER HIPHI FILES FOR BANKRUPTCYTo manage to go bankrupt, as a Chinese EV maker with plans to export across the globe, considering the amount of assistance the Government will give its home grown companies, takes quite the effort, but HiPhi have managed it. If you wish to learn more, click this Autocar article link here. FORD WORKERS TO GO ON STRIKE OVER CHANGES...