Car production will improve this fiscal year, says battery maker Panasonic June 1, 2022 Car production is expected to improve this fiscal year, according to battery maker Panasonic. The Osaka-based giant – who makes batteries for marquees such as Tesla – said its total revenue derived from the automotive market will increase from 14 to 19 per cent, with operating profit growing by 16.6m yen (£101.9m). “We will be [...]
SoftBank and Goldman Sachs back EV supercar maker Rimac in €500m funding round June 1, 2022 Giants SoftBank, Goldman Sachs and Porsche have backed electric vehicle (EV) supercar maker Rimac in a €500m funding round. The Croatian company’s valuation soared to €2bn following the backing. According to chief executive Mate Rimac, the investment will be used to scale up its driving robotaxi venture, which has been in the works for the [...]
Here are the bus routes set for change and cancellation amid TfL cuts June 1, 2022 Transport for London (TfL) announced today it will have to withdraw or change 78 of the current 620 bus routes to comply with government pressures. Launching a six-week consultation, the public body said the routes were chosen because they transit through zones which have a higher provision of buses. “We know that these plans will [...]
Lamborghini to have e-fuel powered supercars beyond 2030, says boss June 1, 2022 Lamborghini will have at least two supercars powered by e-fuels in its range beyond 2030, according to chief executive Stephan Winkelmann. The German executive told Italian newspaper ‘Il Corriere della Sera’ the entire fleet will transition to hybrid between 2023 and 2024 without losing its renowned high performance. “We want to carry on creating emotions, [...]
Harland & Wolff buys military ship from MOD June 1, 2022 Harland & Wolff has bought a military ship from the Ministry of Defence (MOD). The offshore construction company said it has acquired the HMS Atherstone – a mine hunting vessel no longer in service – to refurbish it for non-military uses. The HMS Atherstone was bought as part of Harland & Wolff’s attempt to regenerate [...]
Union yet to set date for railway strike as talks continue May 31, 2022 The RMT union has yet to set a date for the announced railway strike as discussions are still ongoing. “Since the ballot results on 24th May, discussions have been taking place at industry-wide level under the auspices of the Rail Industry Recovery Group (RIRG) to create a framework and structure for negotiations on all issues [...]
Unacceptable: Airlines slammed for pandemic job cuts as travel crisis rages May 31, 2022 Airports and airlines have been blamed for severely slashing staff roles amid the pandemic, as holidaymakers face lengthy queues and disruption. A government source has told The Times that delays and flight cancellations are “completely unacceptable” as Brits have been warned to expect more chaos ahead of the Platinum Jubilee bank holiday. “The simple fact is [...]
UK worst affected by travel mayhem, experts warn May 31, 2022 As queues, delays and cancellations continue to leave a sour taste in the mouth of thousands of travellers, experts have warned the issue is affecting the UK predominantly. According to aviation analyst Sally Gethin, while Britain is not the only country struggling, the UK’s aviation sector was more beaten down by the pandemic compared with [...]
Bain & Co snaps up London procurement specialist Proxima May 31, 2022 US consulting giant Bain & Co revealed it has snapped up London procurement specialist Proxima today, as demand for supply chain consultancy surges amid a wave of inflationary and geopolitical shocks.
Car ownership numbers fall for second consecutive year in more than a century May 31, 2022 Car ownership levels have fallen for the second consecutive year in more than a century. According to data from the Society of Motor Manufacturers and Traders (SMMT), in 2021 levels fell by 0.2 per cent to 35 million units despite the number of UK vehicles growing by 0.4 per cent to 40.5 million. Covid-related market [...]
