On August 5, the Society of Motor Manufacturers and Traders (SMMT) lowered its forecast for new car sales in the UK for 2024, citing weak demand in the private retail market for electric vehicles as a primary concern, Reuters reported. According to the SMMT’s latest forecast, new car sales in the UK are expected to come in at 1.97 million this year, down from a previous forecast of 1.98 million, and it has cut its annual market share forecast for purely electric vehicles to 18.5 percent from 19.8 percent previously. The latest registration figures from the SMMT show that last […]
According to foreign media reports, the U.S. National Highway Traffic Safety Administration (NHTSA) has said that the agency still believes that the 49 million U.S. vehicles produced by 13 automakers equipped with airbag inflators have serious safety risks, and is considering a recall. The problem has caused one death and seven injuries in the U.S. after an eight-year-long investigation by the U.S. government. If the recall goes forward, it will be the second largest in U.S. history. The NHTSA suggested at a hearing last October that the inflators made by two airbag makers could rupture, […]
August 7, 2024 – Lynk & Co has announced that the highly anticipated 2025 Lynk & Co 08 EM-P will officially launch in August 2024. The new model promises significant configuration upgrades, enhancing its competitiveness in the luxury SUV market. The 2025 Lynk & Co 08 EM-P continues to showcase the brand’s distinctive design language with a more dynamic and streamlined body shape. The front features new LED headlights and a wide air intake grille, giving the vehicle a more striking visual presence. Additionally, the new model offers a range of luxurious body colors and exterior trim options, further elevating its overall aesthetic. In terms of configuration, the […]
August 6, 2024 – Newark, CA – Lucid Motors, the electric vehicle manufacturer, announced today a net loss of $790 million for the second quarter of 2024. This figure represents a significant increase compared to the $635 million loss reported in the same period last year. The company’s financial results were disclosed in its quarterly earnings report, revealing that revenue for Q2 2024 was $320 million, up from $280 million in Q2 2023. Despite the increase in revenue, the substantial net loss highlights ongoing challenges for Lucid Motors as it continues to scale production and expand its market presence. Lucid Motors’ CEO, Peter Rawlinson, addressed the results in […]
August 6, 2024, Ankara – According to the Turkish Ministry of Economy, Turkey’s foreign direct investment (FDI) is projected to increase by at least 20% this year. This growth is attributed to a series of policies and reforms implemented by the Turkish government to encourage foreign investment, including tax incentives and streamlined administrative procedures. Turkish Economy Minister Mehmet Albayrak stated at a press conference today, “We are optimistic about the growth of foreign direct investment and believe this trend will continue. We are committed to providing a more investor-friendly environment to promote investment and economic development.” It has been reported that Turkey is currently in talks with two […]
Bridgewater Interiors, a seat supplier to Stellantis, has announced plans to lay off 63 employees at its Detroit (USA) plant after the company discontinued production of its Ram 1500 Classic model, according to a report in the media. A WARN notice filed with the state of Michigan by the seat supplier shows that the company expects to make this round of permanent layoffs by the end of September this year. Affected employees represented by UAW Local 600 will be paid their due wages and fringe benefits once they are laid off, the filing shows.Bridgewater declined to comment on the […]