Government to invest £35 million to help thriving £70 billion automotive sector and create highly-skilled automotive and advanced manufacturing jobs. Investment will also improve industrial transport links on the A45, including a new bridge to connect Whitley South to the existing Jaguar Land Rover engineering centre and global HQ. An expanded automotive business zone in Whitley, near Coventry, is set to become home to nearly 3,000 highly-skilled engineering and advanced manufacturing jobs, following £35 million in government investment, Business and Energy Secretary Greg ...Read more
Mitsubishi Motors has been told to stop selling eight more models after it was found they overstated fuel efficiency. The latest models affected by the fuel efficiency scandal include variants of the Pajero, Outlander and RVR SUV cars. “Our investigation confirmed that the fuel economy on eight models were as much as 8.8% and on average 4.2% lower than advertised,” the Japanese transport ministry said in a statement. The ministry ordered the carmaker to stop selling those eight models on the domestic ...Read more
The ReshoringUK Automotive Networking Event was a great success. Over 100 attendees on the day and presentations for the countries leading OEM and Tier 1 suppliers as well as Interviews with Jaguar Land Rover, Autodesk and Lloyds bank https://youtu.be/Zw1y4xiWD50 Read more
Volkswagen plans to launch 30 all-electric models to reposition itself as a leader in “green” transport. Matthias Mueller, chief executive of Europe’s biggest carmaker, said huge investments would be needed as the firm moves beyond the diesel scandal. He hopes that by 2025, all-electric cars would account for about 20-25% of the German carmaker’s annual sales.
Outlining what he described as the “key building blocks in the new group strategy”, Mr Mueller said VW aimed to “transform its core automotive business or, ...Read more
Mitsubishi Motors has forecast a net loss of 145bn yen ($1.4bn, £900m) for the current business year in the wake of its fuel efficiency scandal. The expected loss marks the first fall in profit for the car firm since the 2008 financial crisis. Mitsubishi had already reported a 39% drop in net profit in the year to the end of March due to the fuel scandal.
In the wake of the scandal, some $3bn was wiped off its market value and in ...Read more