Cowey wowey - 2 April 2024

FOLLOW UP: LUCID RAISES $1B FROM SAUDI ARABIA

THe luxury EV maker, Lucid, has received a further $1 billion in investment, from the Saudi Arabian sovereign fund, Public Investment Fund. They also increased the number of vehicles they expect to produce in 2024 compared to 2023, still only 9,000 cars though. If you wish to learn more, click this link to a Reuters article.

FOLLOW UP: CANOO BUYS UP ARRIVAL EQUIPMENT

The bones of Arrival are being picked over as the administration team try to recoup as much money as possible by selling the assets off. Canoo has swooped in and bought a lot of equipment at bargain prices. Click this electrive article link to read more.

JLR NAME THREE BRAND DIRECTORS

JLR has named three new directors to head up the brands in the UK. Alan Nicholson takes the helm of Range Rover. Leonie Raistrick will be in charge of Defender and Discovery. Whilst Santino Pietrosanti will be brand director of Jaguar. Don’t forget to click this link, from AMOnline, to see even the directors are having to follow the dress code.

FCA QUESTIONS INSURANCE WRITE-OFF VALUATIONS

The Financial Conduct Authority (FCA) has expressed its concern that insurers are not correctly valuing vehicles that have been written off or stolen. Taking from customers both top and bottom, nice. They has stated they will take steps and do have powers to do so if the industry doesn’t sort itself out. Click this AMOnline article link to read more.

For the article explaining the issue with Gap Insurance, click this AMOnline link here.

CAMPAIGN TO REGULATE THE CAR RETAIL INDUSTRY

Due to a “volume” of complaints, mainly around second hand car dealers and repair operations, the calls on the Government to regulate the car retail industry are getting louder. Recommendation includes a certification process, with minimum industry standards met. To read more, click this AMOnline article link here.

RESEARCH INTO BARRIERS TO EV TAKE UP

Research, on behalf of Transport for the North, has been published with a list of factors that are putting people off making the switch to electric vehicles. This is not a hit piece or anti-EV, but a list of real concerns from real people. A very interesting read. If you wish to learn more, click this TransportXtra article link here.

CONSULTATION OVER HYDROGEN FARM AND PLANT MACHINERY

The Department for Transport has opened a consultation on permitting hydrogen farm and plant machinery on the roads. To learn more, including the link to the consultation, click this Fleet News article link...


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