Elon Musk says move means electric vehicle manufacturer can sell Model 3 for $35,000
Tesla is closing all of its stores in a cost-cutting measure, so it can lower the starting price of its Model 3 to $35,000 (£26,400).
Elon Musk, the billionaire chief executive of the electric car and technology company, said that a shift to selling online only was essential to make it financially viable to lower the current starting price of $42,900.
Continue reading...There is a sense that while the Swindon plant’s days were numbered, Brexit tipped the balance
Honda claims Brexit had nothing to do with the decision to shutter its Swindon plant, but almost nobody seems to be buying it.
The consensus among industry pundits is that it suits Honda to avoid dipping its toe into the toxic pool of Brexit.
Continue reading...Company says move is a precaution in case WTO tariffs apply to EU-UK trade
Porsche is asking British customers to sign a contract committing them to pay a surcharge of up to 10% of their vehicles’ purchase price if there is a no-deal Brexit.
Cars made in Europe could attract tariffs of 10% if imported to the UK under the terms of the World Trade Organization, the default trading relationship if the UK and the EU are unable to agree a transition period before 29 March.
Continue reading...Firm plans to move production claims Sky News, raising concerns about Brexit impact
Nissan has refused to comment on reports that it is abandoning plans to build a new model of one of its flagship vehicles at its Sunderland plant.
The Japanese car manufacturer said in 2016 it would be building the new version of the X-Trail SUV at the factory along with its next-generation Qashqai, prompting claims that Nissan and the government had struck a “sweetheart deal” to protect the company from any post-Brexit EU tariff wall.
Continue reading...Elon Musk says he has no choice but to reduce electric car manufacturer’s headcount
Tesla is cutting more than 3,000 jobs, or 7% of its workforce, after experiencing a year its founder, Elon Musk, said was both its most challenging and most successful.
The chief executive of the electric car manufacturer told staff on Friday that “the road ahead is very difficult” because its products were not yet affordable for most people and it was up against a big incumbent industry.
Continue reading...Former Nissan head says he is innocent, meaning he could remain in detention until trial begins
Carlos Ghosn could remain in detention for several months after prosecutors indicted him on two new charges of financial misconduct, days after the former Nissan chairman insisted he had been wrongly accused.
Ghosn was charged with aggravated breach of trust and for understating his pay by 4.3 billion yen for three years through March 2018, the Tokyo district court said.
Continue reading...Investigation will now examine payments made to former Nissan chairman before 2017
Renault has said it has so far found no evidence of illegal or fraudulent payments to Carlos Ghosn, despite the chief executive of the French carmaker remaining under arrest in Japan.
Ghosn was arrested in November by Japanese authorities over allegations he under-reported income from Nissan, the carmaker he formerly led alongside Renault. He remains in the custody of Japanese authorities in Tokyo.
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