The UK government announced plans to invest £500 million (US$841 million) between 2015 and 2020 to boost the ultra low emission vehicle (ULEV) industry and help drivers both afford and feel confident using electric cars.The automotive industry is worth £11.2 billion (US$18.8 billion) to the UK economy, the government said.
VW Q1 profit jumps 22%, boosted by Audi, Porsche
Volkswagen Group’s first-quarter operating profit rose 22 percent from a year earlier, as earnings from Porsche and Audi helped to offset falling profitability at the automaker’s core VW brand.
VW to launch 10 green cars in China by 2018
Volkswagen Group plans to introduce 10 electric and plug-in hybrid models in China by 2018 to strengthen its presence in the market.
PSA begins Rights Offering stock sale
PSA/Peugeot-Citroen is offering stock to investors at 6.77 euros a share after selling stakes to Chinese partner Dongfeng Motor and the French state at a higher price.
BMW and Mercedes defying Brazil auto-market decline
Brazil’s anemic auto market is getting a boost from affluent motorists snapping up Mercedes and BMW models as tax incentives put more luxurious rides within reach.
The premium segment, which grew 32 percent in the first quarter, is a bright spot amid total vehicle sales that fell 5 percent, according to two local auto associations.
